Surrender; Holdover Clause Samples

Surrender; Holdover. 60 ARTICLE 25

Surrender; Holdover. Prior to expiration of this Sublease, Sublessee shall remove all of its personal property and shall surrender the Subleased Premises to Sublessor broom clean, in the same condition as exists on the Commencement Date, reasonable wear and tear, alterations that may be surrendered hereunder, casualty, condemnation, and Hazardous Materials (except those for which Sublessee is responsible under Section 9 of this Sublease or any applicable provision of the Master Lease), excepted. If the Subleased Premises are not so surrendered, then Sublessee shall be liable to Sublessor for all reasonable costs actually incurred by Sublessor as a result of such failure by Sublessee. In the event that Sublessee does not surrender the Subleased Premises upon the expiration or earlier termination of this Sublease as to the Subleased Premises as required above, Sublessee shall pay Sublessor holdover Base Rent in an amount equal to the holdover rent specified in the Master Lease.

Surrender; Holdover. If Tenants continue to hold possession with the consent of the Landlord after expiration of the term of this Lease, then such holding over shall not be deemed a renewal of the Lease for the whole term, but Tenants shall be deemed to be Tenants from month-to-month only, at a rate of $ monthly rent as herein provided and upon the same terms and conditions as herein specified; EXCEPT that Landlord may at its option increase the rent for such holdover period upon TEN days written notice to Tenants.

Surrender; Holdover. (a) Lessee shall quit and surrender peaceably and quietly, to Lessor, its agent or attorney, possession of the Premises at the expiration or other termination of this Lease, vacant (free of all occupants), broom clean and in good condition, except for ordinary wear and tear and free of violations, and shall surrender all keys for the Premises to Lessor at the place then fixed for the payment of Rent and shall provide Lessor all combinations for locks, safes and vaults, passwords and codes for computers or computer-operated equipment if any, in the Premises. Lessee’s failure to so vacate shall subject Lessee to liability and Lessee agrees to pay Lessor’s damages, costs and counsel fees resulting therefrom. If upon termination of this Lease or abandonment of the Premises by Lessee, Lessee abandons or leaves any personal property or equipment at the Premises, such equipment or property shall be conclusively deemed abandoned and Lessor shall have the right, without notice to Lessee, to store or otherwise dispose of the property or equipment at Lessee's sole cost, expense and risk, without being liable in any respect to Lessee. Lessee agrees that any such disposition by Lessor shall be conclusively deemed to be commercially reasonable. (b) If Lessee holds over or remains in possession of the Premises after the expiration of the Term of the Lease, or after any prior termination thereof, without any written agreement being made or entered into between Lessor and Lessee, such holding over or continued possession shall be deemed to be a tenancy from month to month at a monthly rental equal to one hundred fifty percent (150%) of the then last monthly installments of Fixed Annual Rent and additional rent payable during the Term for the first thirty (30) days of such holdover period and thereafter, the greater of two (2) times (x) the then last monthly installments of Fixed Annual Rent and additional rent payable during the Term, and (y) fair market Rent, and otherwise shall be upon the terms and conditions of this Lease, and such tenancy shall be terminable at the end of any month by either party upon written notice delivered to the other party at least thirty (30) days prior to the end of such month. (c) No act or thing done by Lessor or any agent or employee of Lessor during the Term of this Lease shall be deemed to constitute an acceptance by Lessor or a surrender of the Premises unless such acceptance of surrender is specifically acknowledged by Lessor in a writi...

Surrender; Holdover. Prior to expiration of this Sublease, Sublessee shall remove all of its personal property and shall surrender the Subleased Premises to Sublessor broom clean, in the same condition as exists on the Commencement Date, reasonable wear and tear, casualty and condemnation excepted. Sublessee shall be responsible for terminating and closing all Environmental Permits held by Sublessee (and not required to have been previously assigned to Sublessor) in accordance with Environmental Laws and shall provide Sublessor and Master Lessor with a Business Closure Report issued by the San Mateo County Environmental Health Department and a Radioactive Material License Termination issued by the relevant Governmental Authority pursuant to Section 12.01 of the Master Lease, as applicable. If Sublessee does not surrender the Premises upon the expiration or earlier termination of this Sublease as required above, Sublessee shall indemnify, defend, protect and hold harmless Sublessor from and against all loss, cost, claim, damage and liability (including attorneys’ fees and consultants’ fees) resulting from Sublessee’s delay in surrendering such Premises, including holdover rent payable by Sublessor.

Surrender; Holdover. On expiration or early termination of this Lease (“surrender”), Tenant shall deliver all keys to Landlord and surrender the Property free of debris and the interior hallways and rooms of the Building vacuumed and/or swept. With respect to any damage to the Property that is the repair responsibility of Tenant under this Lease and that occurs during the last three months prior to expiration or early termination of this Lease or results from removal of any Tenant Alterations, Tenant’s repair responsibility shall, notwithstanding any other provision of this Lease, be limited to patching such damage (i.e., patching holes and cracks) and Tenant shall not be required to do any finish work as part of such repairs. Upon surrender ,Tenant shall not be required to return the Property to “good condition,” and shall not be required to mend any carpet tears or replace any carpet, provided that Tenant shall replace any broken glass. Tenant may, in its sole discretion but subject to any right of Landlord under this lease to demand removal of property by ▇▇▇▇▇▇, remove or leave any personal property located on the Property as of the date of expiration or early termination of the Lease, provided that Tenant shall remove any unattached personal property that is not normally used in the hotel industry unless the Parties mutually agree in writing to leave the same at the Property; Tenant shall have fifteen (15) days after expiration or early termination of this Lease within which to complete any removal of property authorized or required under this Lease. The Parties acknowledge that in lieu of any obligation on Tenant’s part to surrender the Property in good condition less wear and tear (including in lieu of any obligation on Tenant’s part to do any finish work during or after the last three months prior to expiration or early termination of this Lease), and in lieu of any obligation on Tenant’s part to surrender all or any part of the Property “furnished” for hotel use or otherwise, and in lieu of any obligation on Tenant’s part to restore all or any part of the Property to any pre-Lease, Commencement Date, or other condition or to reconfigure the Property back to any pre-Lease, Commencement Date, or other reconfiguration, Tenant shall, on expiration or early termination of this Lease, pay to Landlord a restoration fee in the amount of $156,000.00 (“Restoration Fee”) to be applied: (a) towards any finish work needed to return the Property to good condition, (b) towards the r...

Surrender; Holdover. At the end of the Term or upon termination of this Lease, whichever first occurs, Tenant shall quit and surrender possession of the Premises to Landlord vacant and broom clean. If Tenant remains in possession of the Premises after the end of the Term, then Tenant shall be deemed to be a tenant from month to month only, under all of the same terms and conditions of this Lease then in effect, except as to the duration of the Term.

Surrender; Holdover. On expiration or early termination of this Lease, Tenant shall deliver all keys to Landlord and surrender the Premises vacuumed, swept, and free of debris and in the same condition as at the commencement of the term subject only to reasonable wear from ordinary use. Tenant shall remove all of its furnishings and trade fixtures that remain its property and any alterations, cables, or conduits if required by Section 5.1.3, and shall repair all damage resulting from such removal. Failure to remove shall be an abandonment of the property, and, following ten (10) days' written notice, Landlord may remove or dispose of it in any manner without liability, and recover the cost of removal and other damages from Tenant. If Tenant fails to vacate the Premises when required, including failure to remove all its personal property, Landlord may elect either: (i) to treat Tenant as a tenant from month to month, subject to the provisions of this Lease except that rent shall be one-and-one-half times the total rent being charged when the Lease term expired, and any option or other rights regarding extension of the term or expansion of the Premises shall no longer apply; and/or (ii) to eject Tenant from the Premises (using self-help or otherwise) and recover damages caused by wrongful holdover.

Surrender; Holdover. Upon the expiration or sooner termination of the Term of this Lease, Tenant shall promptly surrender the Premises to Landlord in accordance with the provisions of Section 15(b) and Section 11 and deliver all keys to the Premises to Landlord. If Tenant shall default in so surrendering the Premises, Tenant's occupancy subsequent to the end of the Term shall be a tenancy at will (and not a tenancy from month to month or from year to year) cancelable by Landlord or Tenant immediately upon oral or written notice and such tenancy shall be subject to all of the provisions of this Lease, except that Base Rent shall be equal to one hundred fifty percent (150%) of the Base Rent payable immediately prior to the end of the Term, unless Landlord agrees in writing to other terms for the holdover tenancy.