Recover Possession Clause Samples

The 'Recover Possession' clause grants a party, typically a landlord or property owner, the right to reclaim physical control of a property under certain conditions, such as breach of lease or expiration of the rental term. In practice, this clause outlines the procedures and circumstances under which the owner can demand the return of the premises, which may include providing notice to the occupant or initiating legal proceedings if voluntary surrender does not occur. Its core function is to ensure that property owners have a clear and enforceable mechanism to regain possession of their property, thereby protecting their interests and providing a remedy in cases of unauthorized occupancy or non-compliance with contractual terms.
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Recover Possession. Landlord can terminate Tenant's right to possession of the Premises at any time. No act by Landlord other than giving notice to Tenant will terminate this Lease. Acts of maintenance, efforts to relet the Premises, or the appointment of a receiver on Landlord's initiative to protect Landlord's interest under this Lease will not constitute a termination of Tenant's right to possession. On termination, Landlord has the right to recover from Tenant:
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Recover Possession. (a) In the event the Licensor determines at its sole and absolute discretion that (i) due to the Licensor’s trade mix policy (as determined by the Licensor and/or the Operator from time to time); or (ii) the Building or any part thereof is to be renovated, retrofitted, refurbished and/or altered; or (iii) there be a change of use of the Licenced Area or that part of the Building in which the Licenced Area is situated, the Licensor shall be entitled to issue to the Licensee a written notice of the Licensor’s intention to recover possession of the Licenced Area (“Notice to Recover Possession”) pursuant to this Clause 3.5(a). (b) Upon issue of the Notice to Recover Possession, the Licensor shall use its best endeavours to find alternative premises in the Building (“Substitute Premises”) as the Licensor deems suitable for the Licensee, to re-locate the Licensee. If the Licensor finds a suitable Substitute Premises, the Licensor shall issue a letter of offer to the Licensee for the Substitute Premises. (c) In the event the Licensee shall accept the Licensor’s offer, the Licensee shall surrender its licence of the Licenced Area and shall at the same time enter into and execute an agreement with the Licensor for the licence of the Substitute Premises and the provision of maintenance and other services to the Substitute Premises upon such terms and conditions as may be mutually agreed. (d) In the event (i) the Licensor is unable to offer to the Licensee a suitable Substitute Premises, or (ii) the Licensee shall refuse or fail to accept the Licensor’s offer for the Substitute Premises within the period stipulated in the offer, or (iii) the Parties shall fail to agree on the terms in respect of the licence of the Substitute Premises, within three (3) months of the date of the Notice to Recover Possession, the Licensor shall be entitled to terminate the licence of the Licenced Area by giving to the Licensee not less than one (1) month’s written notice (“Termination Notice”) to such effect and upon the expiry of the period specified in the Termination Notice, the licence of the Licenced Area shall cease and determine but without prejudice to any right of action or other remedies which the Licensor has or otherwise could have for arrears or in respect of any antecedent breach of any of the provisions hereof.
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Recover Possession. Landlord can terminate Tenant's right to ------------------ possession of the Premises at any time as provided in unlawful detainer statutes. No act by Landlord other than giving notice to Tenant will terminate this Lease. Acts of maintenance, efforts to relet the Premises, or the appointment of a receiver on Landlord's initiative to protect Landlord's interest under this Lease will not constitute a termination of Tenant's right to possession. On termination, Landlord has the right to recover from Tenant: (i) The worth, at the time of the award, of the unpaid rent that had been earned at the time of termination of this Lease. (ii) The worth, at the time of the award, of the amount by which the unpaid rent that would have been earned after the date of termination of this Lease until the time of award exceeds the amount of the loss of rent that Tenant proves could have been reasonably avoided. (iii) The worth, at the time of the award, of the amount by which unpaid rent for the balance of the term after the time of award exceeds the amount of the loss of rent that Tenant proves could have been reasonably avoided. (iv) Any other amount, including court costs, necessary to compensate Landlord for all detriment proximately caused by Tenant's default. The phrase WORTH AT THE TIME OF THE AWARD as used in (i) and (ii) above is to be computed by allowing interest at the prime commercial rate plus 2% per annum, but not to exceed the then legal rate of interest. The same phrase used in (iii) above is to be computed by discounting the amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%.
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Related to Recover Possession

  • Peaceful Possession The Authority hereby warrants that: a) The Project Site has been acquired through the due process of law and belongs to and is vested with the Authority and that the Authority has full powers to hold, dispose of and deal with the same consistent, inter alia, with the provisions of this Agreement. b) In the event the Developer is obstructed by any Person claiming any right, title or interest in or over the Project Site or any part thereof, or in the event of any enforcement action including any attachment, distrait, appointment of receiver or liquidator being initiated by any Person claiming to have any interest in/charge or the Project Site or any part thereof, the Authority shall, if called upon by the Developer, defend such claims and proceedings and also keep the Developer indemnified against any consequential loss or damages which the Developer may suffer, on account of any such right, title, interest or charge.

  • TERM; POSSESSION The Term shall commence on the Commencement Date and ---------------- shall expire, if not sooner terminated pursuant to the provisions of this Lease, on the Expiration Date. On the Commencement Date, the Premises and Equipment Space are accepted by Tenant in "as is" condition and configuration (subject to the completion of the Landlord Work). By taking possession of the Premises and Equipment Space, Tenant agrees that the Premises and Equipment Space are in good order and satisfactory condition, and that there are no representations or warranties by Landlord regarding the condition of the Premises, Equipment Space or the Building except as may be expressly set forth herein. If Landlord is delayed in delivering possession of the Premises and Equipment Space or any other space, Landlord shall use reasonable efforts to obtain possession of the space, but no such delay shall nullify this Lease or give rise to any claim for damages on the part of Tenant. If Tenant takes possession of the Premises or Equipment Space before the Commencement Date, such possession shall be subject to the terms and conditions of this Lease except that, prior to the Rent Commencement Date, Tenant will not be required to pay Rent hereunder. Notwithstanding the foregoing, if the Commencement Date does not occur by the date that is one hundred fifty (150) days following the mutual execution and delivery of this Lease (the "Outside Delivery Date"), Tenant, as its sole remedy, may terminate this Lease by giving Landlord written notice of termination after the Outside Delivery Date. In such event, and subject to the provisions set forth below in this Article 3, this Lease shall be deemed null and void and of no further force and effect and Landlord shall promptly refund any prepaid Rent and Security Deposit previously advanced by Tenant under this Lease and the parties hereto shall have no further responsibilities or obligations to each other with respect to this Lease. Landlord and Tenant acknowledge and agree that the Outside Delivery Date shall be postponed by the number of days the Commencement Date is delayed due to events of Force Majeure (as defined herein). Notwithstanding the foregoing to the contrary, if Tenant exercises its right to terminate this Lease as set forth above but Landlord delivers the Premises to Tenant in the condition required by this Lease within thirty (30) days after the date of Tenant's delivery of Tenant's termination notice, this Lease shall continue in full force and effect the same as if Tenant had not delivered its termination notice, and Tenant's termination notice will be null and void. Tenant's right to terminate as described herein shall be null and void as of the Commencement Date.

  • Quiet Possession Upon Tenant paying the rent reserved hereunder and observing and performing all of the covenants, conditions and provisions on Tenant's part to be observed and performed hereunder, Tenant shall have quiet possession of the Premises for the entire term hereof, subject to all the provisions of this Lease.

  • VACANT POSSESSION The Purchaser after the payment of the TPP shall at his own costs and expenses take possession of the Property without any obligation on the part of the Assignee/Bank to give vacant possession and the Purchaser is PROHIBITED from entering upon the Property or take possession of the Property prior to the settlement of the balance purchase price and/or late payment interest (if any).

  • DEFAULT AND POSSESSION In the event that the Lessee shall fail to pay said rent, and expenses as set forth herein, or any part thereof, when the same are due and payable, or shall otherwise be in default of any other terms of said Lease for a period of more than 15 days, after receiving notice of said default, then the parties hereto expressly agree and covenant that the Lessor may declare the Lease terminated and may immediately re-enter said Premises and take possession of the same together with any of Lessee’s personal property, equipment or fixtures left on the Premises which items may be held by the Lessor as security for the Lessee’s eventual payment and/or satisfaction of rental defaults or other defaults of Lessee under the Lease. It is further agreed, that if the Lessee is in default, that the Lessor shall be entitled to take any and all action to protect its interest in the personal property and equipment, to prevent the unauthorized removal of said property or equipment which threatened action would be deemed to constitute irreparable harm and injury to the Lessor in violation of its security interest in said items of personal property. Furthermore, in the event of default, the Lessor may expressly undertake all reasonable preparations and efforts to release the Premises including, but not limited to, the removal of all inventory, equipment or leasehold improvements of the Lessee’s, at the Lessee’s expense, without the need to first procure an order of any court to do so, although obligated in the interim to undertake reasonable steps and procedures to safeguard the value of Lessee’s property, including the storage of the same, under reasonable terms and conditions at Lessee’s expense, and, in addition, it is understood that the Lessor may ▇▇▇ the Lessee for any damages or past rents due and owing and may undertake all and additional legal remedies then available. In the event any legal action has to be instituted to enforce any terms or provisions under this Lease, then the prevailing party in said action shall be entitled to recover a reasonable attorney's fee in addition to all costs of said action. Rent which is in default for more than days after due date shall accrue a payment penalty of one of the following: ☐ - Interest at a rate of percent ( %) per annum on a daily basis until the amount is paid in full. ☐ - Late fee of dollars ($ ) per day until the amount is paid in full. In this regard, all delinquent rental payments made shall be applied first toward interest due and the remaining toward delinquent rental payments.