Common use of Surrender; Contraction Premises Demising Work Clause in Contracts

Surrender; Contraction Premises Demising Work. Tenant shall remove all of Tenant’s personal property from the Contraction Premises on or before the Contraction Premises Surrender Date. In the event Tenant fails to remove its personal property from the Contraction Premises by such date, Landlord shall have the right to remove and dispose of the same at Tenant’s expense. Tenant shall deliver the Contraction Premises to Landlord in the condition as it was required to be maintained by Tenant under this Lease, reasonable wear and tear and Demising Work, if any, excepted, and subject to the provisions of Section 5.3 and Article VI. Any failure by Tenant to vacate and surrender possession of the Contraction Premises in conformity with the requirements of this Article XI prior to expiration of the Contraction Premises Surrender Date shall entitle Landlord to exercise the rights and remedies expressed in Section 7.6. As expeditiously as possible following the Contraction Premises Surrender Date, Tenant shall perform, at Tenant’s sole cost and expense, any Demising Work required at the Property in which the Contraction Premises are located as provided in Section 5.7. If Tenant fails to expeditiously commence and complete any Demising Work or if Landlord needs to accelerate completion of all or a portion of the Demising Work at a Property to accommodate Landlord’s leasing of space to third party tenants, Landlord shall have the right, but not the obligation, to complete, at Tenant’s sole cost and expense, all or a portion of the unfinished Demising Work.

Appears in 4 contracts

Samples: Master Lease Agreement (KBS Real Estate Investment Trust, Inc.), Master Lease Agreement (American Financial Realty Trust), Master Lease Agreement (Gramercy Capital Corp)

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Surrender; Contraction Premises Demising Work. Tenant shall remove all of Tenant’s personal property from the Contraction Premises on or before the Contraction Premises Surrender Date. In the event Tenant fails to remove its personal property from the Contraction Premises by such date, Landlord shall have the right to remove and dispose of the same at Tenant’s expense. Tenant shall deliver the Contraction Premises to Landlord in the condition as it was required to be maintained by Tenant under this Lease, reasonable wear and tear and Demising Work, if any, excepted, and subject to the provisions of Section 5.3 and Article VI. Any failure by Tenant to vacate and surrender possession of the Contraction Premises in conformity with the requirements of this Article XI prior to expiration of the Contraction Premises Surrender Date shall entitle Landlord to exercise the rights and remedies expressed in Section 7.6. As expeditiously as possible following the Contraction Premises Surrender Date, Tenant shall perform, at Tenant’s 's sole cost and expense, any Demising Work required at the Property in which the Contraction Premises are located as provided in Section 5.7. If Tenant fails to expeditiously commence and complete any Demising Work or if Landlord needs to accelerate completion of all or a portion of the Demising Work at a Property to accommodate Landlord’s leasing of space to third party tenants, Landlord shall have the right, but not the obligation, to complete, at Tenant’s sole cost and expense, all or a portion of the unfinished Demising Work.

Appears in 3 contracts

Samples: Master Lease Agreement (KBS Real Estate Investment Trust, Inc.), Master Lease Agreement (Gramercy Capital Corp), Master Lease Agreement (Gramercy Capital Corp)

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