Common use of Surrender; Holdover Clause in Contracts

Surrender; Holdover. Tenant shall vacate and surrender the Leased Premises to Landlord at the expiration or sooner termination of the Lease Term and the same shall be in the same condition as Tenant is required to maintain the same during the Lease Term, free of all of Tenant’s personal property except as may otherwise be provided herein, “broom clean,” and otherwise in accordance with the provisions of the Lease. Tenant shall have no right to holdover beyond the expiration of the Lease Term. If Tenant continues to occupy the Leased Premises after the end of the Lease Term, such continued occupancy shall be deemed a tenancy-at-sufferance even if Landlord accepts any payment from Tenant, but in the event that a court of competent jurisdiction deems such acceptance of a payment to constitute acceptance of “rent”, such acceptance shall create no rights in Tenant beyond a tenancy-at-will under the terms and conditions stated herein but at a Base Rent rate equal to one hundred fifty percent (150%) of the Base Rent applicable immediately preceding the end of the Lease Term, plus all additional Rent, until (i) Tenant shall vacate the Leased Premises; (ii) the termination of the tenancy-at-will; or (iii) Landlord shall give notice of a different rental amount. Nothing contained in this Section shall be deemed to (a) constitute consent by Landlord to such occupancy or holdover by Tenant; (b) confer any rights on Tenant as more than a tenant-at-sufferance or, if Landlord accepts any rental payments applicable to such period of holding over, a tenant-at-will; or (c) relieve Tenant from liability for damages suffered by Landlord as a result of such holding over.

Appears in 6 contracts

Samples: Lease Agreement (ATRM Holdings, Inc.), Lease Agreement (ATRM Holdings, Inc.), Lease Agreement (ATRM Holdings, Inc.)

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Surrender; Holdover. (a) By no later than the Expiration Date or earlier termination of Tenant’s right to possession of the Premises (such earlier date, the “Surrender Date”), Tenant shall vacate and surrender the Leased Premises to Landlord at the expiration or sooner termination of the Lease Term in good order and the same shall be in the same condition as Tenant is required to maintain the same during the Lease Termcondition, free of all of Tenant’s personal property except as may otherwise be provided hereinTransferees, vacant, broom clean,” , and otherwise in accordance conformity with the applicable provisions of the this Lease, including without limitation Sections 9 and 11. Tenant shall have no right to holdover hold over beyond the expiration of the Lease Term. If Surrender Date, and if Tenant continues to occupy the Leased Premises after the end of the Lease Term, does not vacate as required such continued occupancy failure shall be deemed an Event of Default and Tenant’s occupancy shall not be construed to effect or constitute anything other than a tenancy-at-sufferance even if tenancy at sufferance. During any period of occupancy beyond the Surrender Date, the amount of Rent owed by Tenant to Landlord accepts will be the Holdover Percentage of the Rent for the month immediately prior to the Expiration Date, without prorating for any partial month of holdover in excess of five (5) days, and except that any provisions in this Lease that limit the amount or defer the payment from Tenant, but in of Additional Rent are null and void. The “Holdover Percentage” equals: (i) 150% for the event that a court first two (2) months of competent jurisdiction deems such holdover; and (ii) 200% for any period of holdover beyond two (2) months. The acceptance of a payment to constitute acceptance Rent by Landlord or the failure or delay of “rent”, such acceptance Landlord in notifying or evicting Tenant following the Surrender Date shall not create no any tenancy rights in Tenant beyond a tenancy-at-will under the terms and conditions stated herein but at a Base Rent rate equal to one hundred fifty percent (150%) of the Base Rent applicable immediately preceding the end of the Lease Term, plus all additional Rent, until (i) any such payments by Tenant shall vacate the Leased Premises; (ii) the termination of the tenancy-at-will; or (iii) Landlord shall give notice of a different rental amount. Nothing contained in this Section shall may be deemed to (a) constitute consent applied by Landlord to such occupancy or holdover by Tenant; (b) confer any rights on Tenant as more than a tenant-at-sufferance oragainst its costs and expenses, if Landlord accepts any rental payments applicable to such period of holding overincluding reasonable attorneys’ fees, a tenant-at-will; or (c) relieve Tenant from liability for damages suffered incurred by Landlord as a result of such holding holdover. The provisions of this Section shall not constitute a waiver by Landlord of any right of reentry as set forth in this Lease; nor shall receipt of any Rent or any other act in apparent affirmance of the tenancy operate as a waiver of Landlord’s right to terminate this Lease for a breach of any of the terms, covenants, or obligations herein on Tenant’s part to be performed. No option to extend this Lease shall have been deemed to have occurred by Tenant’s holdover, and any and all options to extend this Lease or expand the Premises shall be deemed terminated and of no further effect as of the first date that Tenant holds over. In addition, if Tenant fails to vacate and surrender the Premises as herein required by the Surrender Date, Tenant shall indemnify, defend, and hold harmless Landlord from and against any and all costs, losses, expenses, or liabilities incurred as a result of or related to such failure, including without limitation, claims made by any succeeding tenant and real estate brokers’ claims and reasonable attorneys’ fees. Tenant’s obligation to pay Rent and to perform all other Lease obligations for the period up to and including the Surrender Date, and the provisions of this Section, shall survive the Expiration Date. In no way shall the remedies to Landlord set forth above be construed to constitute liquidated damages for Landlord’s losses resulting from Tenant’s holdover.

Appears in 3 contracts

Samples: Lease (Passage BIO, Inc.), Lease (Passage BIO, Inc.), Passage BIO, Inc.

Surrender; Holdover. Prior to expiration or earlier termination of this Lease, Tenant shall vacate remove all of its personal property and equipment and shall surrender the Leased Premises to Landlord at the expiration or sooner termination of the Lease Term and the same shall be broom clean, in the same condition as exists on the Commencement Date, reasonable wear and tear, alterations or other improvements in the Premises that Tenant is required permitted to maintain surrender at the same during the Lease Termexpiration or earlier termination of this Lease, free of and damaged caused by casualty or condemnation excepted. Additionally, Tenant shall be obligated to remove any and all of its Building and exterior identification signage that was installed on or about the Premises or Project pursuant to Section 27 below and repair any damage caused by such removal. If the Premises are not so surrendered or Tenant’s personal property except as may otherwise be provided hereinidentification signage is not so removed, “broom clean,” and otherwise in accordance with the provisions of the Lease. then Tenant shall have no right be liable to holdover beyond Landlord for all costs incurred by Landlord in returning the expiration of Premises and Project to the Lease Termrequired condition. If Tenant continues to occupy gives Landlord written notice at least ninety (90) days before the Leased Premises after the end expiration date of the Lease Term, Tenant may extend the expiration date of the Term for a period not to exceed ninety (90) days, on the same terms and conditions as applicable during the last month of the Term, including without limitation, the Base Rent amount payable for such continued occupancy shall be deemed a tenancy-at-sufferance even if Landlord accepts any payment from Tenant, but in month. In the event that a court Tenant does not surrender the Premises upon the expiration (as it may be extended pursuant to the preceding sentence) or earlier termination of competent jurisdiction deems such acceptance of a payment to constitute acceptance of “rent”this Lease as required above, such acceptance Tenant shall create no rights indemnify, defend, protect and hold harmless Landlord from and against all loss, cost, claim, damage and liability resulting from Tenant’s delay in Tenant beyond a tenancy-at-will under surrendering the terms Premises and conditions stated herein but at a Base Rent rate pay Landlord holdover rent in an amount equal to one hundred fifty percent (150%) of the Base Rent applicable immediately preceding Occupancy Cost payable under this Lease during the end last month of the Lease Term, plus all additional Rent, until (i) Tenant shall vacate the Leased Premises; (ii) the termination of the tenancy-at-will; or (iii) Landlord shall give notice of a different rental amount. Nothing contained in this Section shall be deemed to (a) constitute consent by Landlord to such occupancy or holdover by Tenant; (b) confer any rights on Tenant as more than a tenant-at-sufferance or, if Landlord accepts any rental payments applicable to such period of holding over, a tenant-at-will; or (c) relieve Tenant from liability for damages suffered by Landlord as a result of such holding over.

Appears in 3 contracts

Samples: Real Estate Matters Agreement, Real Estate Matters Agreement (Keysight Technologies, Inc.), Real Estate Matters Agreement (Agilent Technologies Inc)

Surrender; Holdover. (a) No later than upon the Expiration Date or earlier termination of Tenant’s right to possession of the Premises (such earlier date, the “Surrender Date”), Tenant shall vacate and surrender the Leased Premises to Landlord at the expiration or sooner termination of the Lease Term in good order and the same shall be in the same condition as Tenant is required to maintain the same during the Lease Termcondition, free of all of Tenant’s personal property except as may otherwise be provided hereinvacant, broom clean,” , and otherwise in accordance conformity with the applicable provisions of the this Lease, including without limitation Sections 9 and 11. Tenant shall have no right to holdover hold over beyond the expiration of the Lease Term. If Surrender Date, and if Tenant continues to occupy the Leased Premises after the end of the Lease Term, does not vacate as required such continued occupancy failure shall be deemed an Event of Default and Tenant’s occupancy shall not be construed to effect or constitute anything other than a tenancy-at-sufferance even if tenancy at sufferance. During any period of occupancy beyond the Surrender Date, the amount of Rent owed by Tenant to Landlord accepts shall be 150% for the first month and 200% thereafter of the Rent that would otherwise be due under this Lease, without prorating for any partial month of holdover, and except that any provisions in this Lease that limit the amount or defer the payment from Tenant, but in the event that a court of competent jurisdiction deems such Additional Rent shall be null and void. The acceptance of a payment to constitute acceptance Rent by Landlord or the failure or delay of “rent”, such acceptance Landlord in notifying or evicting Tenant following the Surrender Date shall not create no any tenancy rights in Tenant beyond a tenancy-at-will under the terms and conditions stated herein but at a Base Rent rate equal to one hundred fifty percent (150%) of the Base Rent applicable immediately preceding the end of the Lease Term, plus all additional Rent, until (i) any such payments by Tenant shall vacate the Leased Premises; (ii) the termination of the tenancy-at-will; or (iii) Landlord shall give notice of a different rental amount. Nothing contained in this Section shall may be deemed to (a) constitute consent applied by Landlord to such occupancy or holdover by Tenant; (b) confer any rights on Tenant as more than a tenant-at-sufferance oragainst its costs and expenses, if Landlord accepts any rental payments applicable to such period of holding overincluding reasonable attorneys’ fees, a tenant-at-will; or (c) relieve Tenant from liability for damages suffered incurred by Landlord as a result of such holding holdover. The provisions of this Section shall not constitute a waiver by Landlord of any right of reentry as set forth in this Lease; nor shall receipt of any Rent or any other act in apparent affirmance of the tenancy operate as a waiver of Landlord’s right to terminate this Lease for a breach of any of the terms, covenants, or obligations herein on Tenant’s part to be performed. No option to extend this Lease shall have been deemed to have occurred by Tenant’s holdover, and any and all options to extend this Lease or expand the Premises shall be deemed terminated and of no further effect as of the first date that Tenant holds over. In addition, if Tenant fails to vacate and surrender the Premises as herein required within the thirty (30) day period following the expiration or termination of this Lease, Tenant shall thereafter be obligated to indemnify, defend and hold harmless Landlord from all costs, losses, expenses or liabilities incurred as a result of such failure, including without limitation, claims made by any succeeding tenant and real estate brokers’ claims and reasonable attorneys’ fees. Tenant’s obligation to pay Rent and to perform all other Lease obligations for the period up to and including the Surrender Date, and the provisions of this Section, shall survive the Expiration Date. In no way shall the remedies to Landlord set forth above be construed to constitute liquidated damages for Landlord’s losses resulting from Tenant’s holdover.

Appears in 2 contracts

Samples: Lease (Paratek Pharmaceuticals, Inc.), Lease (Paratek Pharmaceuticals, Inc.)

Surrender; Holdover. (a) No later than upon the Expiration Date or earlier termination of Tenant’s right to possession of the Premises (such earlier date, the “Surrender Date”), Tenant shall vacate and surrender the Leased Premises to Landlord at the expiration or sooner termination of the Lease Term in good order and the same shall be in the same condition as Tenant is required to maintain the same during the Lease Termcondition, free of all of Tenant’s personal property except as may otherwise be provided hereinvacant, broom clean,” , and otherwise in accordance conformity with the applicable provisions of the this Lease, including without limitation Sections 9 and 11. Tenant shall have no right to holdover hold over beyond the expiration of the Lease Term. If Surrender Date, and if Tenant continues to occupy the Leased Premises after the end of the Lease Term, does not vacate as required such continued occupancy failure shall be deemed an Event of Default and Tenant’s occupancy shall not be construed to effect or constitute anything other than a tenancy-at-sufferance even if tenancy at sufferance. During any period of occupancy beyond the Surrender Date, the amount of Rent owed by Tenant to Landlord accepts will be the Holdover Percentage of the Rent that would otherwise be due under this Lease, and except that any provisions in this Lease that limit the amount or defer the payment from Tenant, but in of Additional Rent are null and void. The “Holdover Percentage” equals: (i) 150% for the event that a court first 2 months of competent jurisdiction deems such holdover; and (ii) 200% for any period of holdover beyond 2 months. The acceptance of a payment to constitute acceptance Rent by Landlord or the failure or delay of “rent”, such acceptance Landlord in notifying or evicting Tenant following the Surrender Date shall not create no any tenancy rights in Tenant beyond a tenancy-at-will under the terms and conditions stated herein but at a Base Rent rate equal to one hundred fifty percent (150%) of the Base Rent applicable immediately preceding the end of the Lease Term, plus all additional Rent, until (i) any such payments by Tenant shall vacate the Leased Premises; (ii) the termination of the tenancy-at-will; or (iii) Landlord shall give notice of a different rental amount. Nothing contained in this Section shall may be deemed to (a) constitute consent applied by Landlord to such occupancy or holdover by Tenant; (b) confer any rights on Tenant as more than a tenant-at-sufferance oragainst its costs and expenses, if Landlord accepts any rental payments applicable to such period of holding overincluding reasonable attorneys’ fees, a tenant-at-will; or (c) relieve Tenant from liability for damages suffered incurred by Landlord as a result of such holding holdover. The provisions of this Section shall not constitute a waiver by Landlord of any right of reentry as set forth in this Lease; nor shall receipt of any Rent or any other act in apparent affirmance of the tenancy operate as a waiver of Landlord’s right to terminate this Lease for a breach of any of the terms, covenants, or obligations herein on Tenant’s part to be performed. No option to extend this Lease shall have been deemed to have occurred by Tenant’s holdover, and any and all options to extend this Lease or expand the Premises shall be deemed terminated and of no further effect as of the first date that Tenant holds over. In addition, if Tenant fails to vacate and surrender the Premises as herein required for a period that continues longer than 15 days, Tenant shall indemnify, defend, and hold harmless Landlord from and against any and all costs, losses, expenses, or liabilities incurred as a result of or related to such failure, including without limitation, claims made by any succeeding tenant and real estate brokers’ claims and reasonable attorneys’ fees. Tenant’s obligation to pay Rent and to perform all other Lease obligations for the period up to and including the Surrender Date, and the provisions of this Section, shall survive the Expiration Date. In no way shall the remedies to Landlord set forth above be construed to constitute liquidated damages for Landlord’s losses resulting from Tenant’s holdover.

Appears in 1 contract

Samples: Spark Therapeutics, Inc.

Surrender; Holdover. (a) No later than upon the Expiration Date or earlier termination of Tenaxx’x xight to possession of the Premises (such earlier date, the “Surrender Date”), Tenant shall vacate and surrender the Leased Premises to Landlord at the expiration or sooner termination of the Lease Term in good order and the same shall be in the same condition as Tenant is required to maintain the same during the Lease Termcondition, free of all of Tenant’s personal property except as may otherwise be provided hereinvacant, broom clean,” , and otherwise in accordance conformity with the applicable provisions of the this Lease, including without limitation Sections 9 and 11. Tenant shall have no right to holdover hold over beyond the expiration of the Lease Term. If Surrender Date, and if Tenant continues to occupy the Leased Premises after the end of the Lease Term, does not vacate as required such continued occupancy failure shall be deemed an Event of Default and Tenant’s occupancy shall not be construed to effect or constitute anything other than a tenancy-at-sufferance even if tenancy at sufferance. During any period of occupancy beyond the Surrender Date, the amount of Rent owed by Tenant to Landlord accepts shall be 150% for the first month and 200% thereafter of the Rent that would otherwise be due under this Lease, without prorating for any partial month of holdover, and except that any provisions in this Lease that limit the amount or defer the payment from Tenant, but in the event that a court of competent jurisdiction deems such Additional Rent shall be null and void. The acceptance of a payment to constitute acceptance Rent by Landlord or the failure or delay of “rent”, such acceptance Landlord in notifying or evicting Tenant following the Surrender Date shall not create no any tenancy rights in Tenant beyond a tenancy-at-will under the terms and conditions stated herein but at a Base Rent rate equal to one hundred fifty percent (150%) of the Base Rent applicable immediately preceding the end of the Lease Term, plus all additional Rent, until (i) any such payments by Tenant shall vacate the Leased Premises; (ii) the termination of the tenancy-at-will; or (iii) Landlord shall give notice of a different rental amount. Nothing contained in this Section shall may be deemed to (a) constitute consent applied by Landlord to such occupancy or holdover by Tenant; (b) confer any rights on Tenant as more than a tenant-at-sufferance oragainst its costs and expenses, if Landlord accepts any rental payments applicable to such period of holding overincluding reasonable attorneys’ fees, a tenant-at-will; or (c) relieve Tenant from liability for damages suffered incurred by Landlord as a result of such holding holdover. The provisions of this Section shall not constitute a waiver by Landlord of any right of reentry as set forth in this Lease; nor shall receipt of any Rent or any other act in apparent affirmance of the tenancy operate as a waiver of Landlord’s right to terminate this Lease for a breach of any of the terms, covenants, or obligations herein on Tenant’s part to be performed. No option to extend this Lease shall have been deemed to have occurred by Tenaxx’x xoldover, and any and all options to extend this Lease or expand the Premises shall be deemed terminated and of no further effect as of the first date that Tenant holds over. In addition, if Tenaxx xxxls to vacate and surrender the Premises as herein required within the thirty (30) day period following the expiration or termination of this Lease, Tenant shall thereafter be obligated to indemnify, defend and hold harmless Landlord from all costs, losses, expenses or liabilities incurred as a result of such failure, including without limitation, claims made by any succeeding tenant and real estate brokers’ claims and reasonable attorneys’ fees. Tenant’s obligation to pay Rent and to perform all other Lease obligations for the period up to and including the Surrender Date, and the provisions of this Section, shall survive the Expiration Date. In no way shall the remedies to Landlord set forth above be construed to constitute liquidated damages for Landlord’s losses resulting from Tenaxx’x xoldover.

Appears in 1 contract

Samples: Confirmation of Lease (Paratek Pharmaceuticals, Inc.)

Surrender; Holdover. (a) No later than upon the Expiration Date or earlier termination of Tenant’s right to possession of the Premises (such earlier date, the “Surrender Date”), Tenant shall vacate and surrender the Leased Premises to Landlord at the expiration or sooner termination of the Lease Term in good order and the same shall be in the same condition as Tenant is required to maintain the same during the Lease Termcondition, free of all of Tenant’s personal property except as may otherwise be provided hereinvacant, broom clean,” , and otherwise in accordance conformity with the applicable provisions of the this Lease, including without limitation Sections 9 and 11. Tenant shall have no right to holdover hold over beyond the expiration of the Lease Term. If Surrender Date, and if Tenant continues to occupy the Leased Premises after the end of the Lease Term, does not vacate as required such continued occupancy failure shall be deemed an Event of Default and Tenant’s occupancy shall not be construed to effect or constitute anything other than a tenancy-at-sufferance even if tenancy at sufferance. During any period of occupancy beyond the Surrender Date, the amount of Rent owed by Tenant to Landlord accepts will be the Holdover Percentage of the Rent that would otherwise be due under this Lease, without prorating for any partial month of holdover, and except that any provisions in this Lease that limit the amount or defer the payment from Tenant, but in of Additional Rent are null and void. The “Holdover Percentage” equals: (i) 150% for the event that a court first 6 months of competent jurisdiction deems such holdover; and (ii) 200% for any period of holdover beyond 6 months. The acceptance of a payment to constitute acceptance Rent by Landlord or the failure or delay of “rent”, such acceptance Landlord in notifying or evicting Tenant following the Surrender Date shall not create no any tenancy rights in Tenant beyond a tenancy-at-will under the terms and conditions stated herein but at a Base Rent rate equal to one hundred fifty percent (150%) of the Base Rent applicable immediately preceding the end of the Lease Term, plus all additional Rent, until (i) any such payments by Tenant shall vacate the Leased Premises; (ii) the termination of the tenancy-at-will; or (iii) Landlord shall give notice of a different rental amount. Nothing contained in this Section shall may be deemed to (a) constitute consent applied by Landlord to such occupancy or holdover by Tenant; (b) confer any rights on Tenant as more than a tenant-at-sufferance oragainst its costs and expenses, if Landlord accepts any rental payments applicable to such period of holding overincluding reasonable attorneys’ fees, a tenant-at-will; or (c) relieve Tenant from liability for damages suffered incurred by Landlord as a result of such holding holdover. The provisions of this Section shall not constitute a waiver by Landlord of any right of reentry as set forth in this Lease; nor shall receipt of any Rent or any other act in apparent affirmance of the tenancy operate as a waiver of Landlord’s right to terminate this Lease for a breach of any of the terms, covenants, or obligations herein on Tenant’s part to be performed. No option to extend this Lease shall have been deemed to have occurred by Tenant’s holdover, and any and all options to extend this Lease or expand the Premises shall be deemed terminated and of no further effect as of the first date that Tenant holds over. In addition, if Tenant fails to vacate and surrender the Premises as herein required, Tenant shall indemnify, defend and hold harmless Landlord from all actual costs, losses, expenses or liabilities incurred as a result of such failure, including without limitation, claims made by any succeeding tenant and real estate brokers’ claims and reasonable attorneys’ fees. Tenant’s obligation to pay Rent and to perform all other Lease obligations for the period up to and including the Surrender Date, and the provisions of this Section, shall survive the Expiration Date. In no way shall the remedies to Landlord set forth above be construed to constitute liquidated damages for Landlord’s losses resulting from Tenant’s holdover.

Appears in 1 contract

Samples: Disturbance and Attornment Agreement (Mirna Therapeutics, Inc.)

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Surrender; Holdover. (a) By no later than the Expiration Date or earlier termination of Tenant’s right to possession of the Premises (such earlier date, the “Surrender Date”), Tenant shall vacate and surrender the Leased Premises to Landlord at the expiration or sooner termination of the Lease Term in good order and the same shall be in the same condition as Tenant is required to maintain the same during the Lease Termcondition, free of all of Tenant’s personal property except as may otherwise be provided hereinTransferees, vacant, broom clean,” , and otherwise in accordance conformity with the applicable provisions of the this Lease, including without limitation Sections 9 and 11. Tenant shall have no right to holdover hold over beyond the expiration of the Lease Term. If Surrender Date, and if Tenant continues to occupy the Leased Premises after the end of the Lease Term, does not vacate as required such continued occupancy failure shall be deemed an Event of Default and Tenant’s occupancy shall not be construed to effect or constitute anything other than a tenancy-at-sufferance even if tenancy at sufferance. During any period of occupancy beyond the Surrender Date, the amount of Rent owed by Tenant to Landlord accepts shall be the Holdover Percentage of the Rent for the month immediately prior to the Expiration Date, without prorating for any partial month of holdover, and except that any provisions in this Lease that limit the amount or defer the payment from Tenant, but in of Additional Rent shall be null and void. “Holdover Percentage” equals: (i) 150% for the event that a court first 2 months of competent jurisdiction deems such holdover; and (ii) 200% for any period of holdover beyond 2 months. The acceptance of a payment to constitute acceptance Rent by Landlord or the failure or delay of “rent”, such acceptance Landlord in notifying or evicting Tenant following the Surrender Date shall not create no any tenancy rights in Tenant beyond a tenancy-at-will under the terms and conditions stated herein but at a Base Rent rate equal to one hundred fifty percent (150%) of the Base Rent applicable immediately preceding the end of the Lease Term, plus all additional Rent, until (i) any such payments by Tenant shall vacate the Leased Premises; (ii) the termination of the tenancy-at-will; or (iii) Landlord shall give notice of a different rental amount. Nothing contained in this Section shall may be deemed to (a) constitute consent applied by Landlord to such occupancy or holdover by Tenant; (b) confer any rights on Tenant as more than a tenant-at-sufferance oragainst its costs and expenses, if Landlord accepts any rental payments applicable to such period of holding overincluding reasonable attorneys’ fees, a tenant-at-will; or (c) relieve Tenant from liability for damages suffered incurred by Landlord as a result of such holding holdover. The provisions of this Section shall not constitute a waiver by Landlord of any right of reentry as set forth in this Lease; nor shall receipt of any Rent or any other act in apparent affirmance of the tenancy operate as a waiver of Landlord’s right to terminate this Lease for a breach of any of the terms, covenants, or obligations herein on Tenant’s part to be performed. No option to extend this Lease shall have been deemed to have occurred by Xxxxxx’s holdover, and any and all options to extend this Lease or expand the Premises shall be deemed terminated and of no further effect as of the first date that Tenant holds over.. In addition, if Xxxxxx fails to vacate and surrender the Premises as herein required, Tenant shall indemnify, defend, and hold harmless Landlord from and against any and all claims, actions, damages, liabilities, and expenses (including all reasonable costs and expenses (including reasonable attorneys’ fees)) to the extent arising out of or from or related to such failure, including without limitation, claims made by any succeeding tenant and real estate brokers’ claims and reasonable attorneys’ fees; provided, however, Xxxxxx’s indemnification obligation shall not include consequential damages unless and until Tenant holds over for 30 days after the Surrender Date. Tenant’s obligation to pay Rent and to perform all other Lease obligations for the period up to and including the Surrender Date, and the provisions of this Section, shall survive the Expiration Date. In no way shall the remedies of Landlord set forth above be construed to constitute liquidated damages for Landlord’s losses resulting from Xxxxxx’s holdover. (b) Prior to the Surrender Date, Tenant, at Tenant’s expense, shall remove from the Premises Tenant’s Property (exclusive of any telephone, security, and communications equipment system wiring and cabling, which Tenant shall have no obligation to remove so long as the same are bundled, labeled, and stored within the flooring, ceiling, or walls of the Premises, as applicable), and restore in a good and workpersonlike manner any damage to the Premises and/or the Building caused by such removal or replace the damaged component of the Premises and/or the Building if such component cannot be

Appears in 1 contract

Samples: BlackSky Technology Inc.

Surrender; Holdover. (a) On (i) the Expiration Date or (ii) such other date on which Tenant’s right to possess the Premises terminates in accordance with this Lease (the earlier of such two dates being defined in this Lease as the “Surrender Date”), Tenant shall vacate and surrender the Leased Premises to Landlord at the expiration or sooner termination of the Lease Term in good order and the same shall be in the same condition as Tenant is required to maintain the same during the Lease Termcondition, free of all of Tenant’s personal property except as may otherwise be provided hereinvacant, broom clean,” , and otherwise in accordance conformity with the applicable provisions of the this Lease, including without limitation Sections 9 and 11. Tenant shall have no right to holdover hold over beyond the expiration of the Lease Term. If Surrender Date, and if Tenant continues to occupy the Leased Premises after the end of the Lease Term, does not vacate as required such continued occupancy failure shall be deemed an Event of Default and Tenant’s occupancy shall not be construed to effect or constitute anything other than a tenancy-at-sufferance even if tenancy at sufferance. During any period of occupancy beyond the Surrender Date, Tenant shall continue to be liable for Additional Rent and the amount of Fixed Rent owed by Tenant to Landlord accepts shall, for the first month of such holdover, be 150% of the Fixed Rent that would otherwise be due under this Lease and thereafter, shall be 200% of the Fixed Rent that would otherwise be due under this Lease, without prorating for any partial month of holdover, and except that any provisions in this Lease that limit the amount or defer the payment from Tenant, but in the event that a court of competent jurisdiction deems such Additional Rent shall be null and void. The acceptance of a payment to constitute acceptance Rent by Landlord or the failure or delay of “rent”, such acceptance Landlord in notifying or evicting Tenant following the Surrender Date shall not create no any tenancy rights in Tenant beyond a tenancy-at-will under the terms and conditions stated herein but at a Base Rent rate equal to one hundred fifty percent (150%) of the Base Rent applicable immediately preceding the end of the Lease Term, plus all additional Rent, until (i) any such payments by Tenant shall vacate the Leased Premises; (ii) the termination of the tenancy-at-will; or (iii) Landlord shall give notice of a different rental amount. Nothing contained in this Section shall may be deemed to (a) constitute consent applied by Landlord to such occupancy or holdover by Tenant; (b) confer any rights on Tenant as more than a tenant-at-sufferance or, if Landlord accepts any rental payments applicable to such period of holding over, a tenant-at-will; or (c) relieve Tenant from liability for damages suffered against the Enforcement Costs incurred by Landlord as a result of such holding overholdover following the Surrender Date. The provisions of this Section shall not constitute a waiver by Landlord of any right of reentry as set forth in this Lease; nor shall receipt of any Rent or any other act in apparent affirmance of the tenancy operate as a waiver of Landlord’s right to terminate this Lease for a breach of any of the terms, covenants, or obligations herein on Tenant’s part to be performed. No option to extend this Lease shall have been deemed to have occurred by Tenant’s holdover following the Surrender Date, and any and all options to extend this Lease or expand the Premises shall be deemed terminated and of no further effect as of the first date that Tenant holds over following the Surrender Date. In addition, if Tenant fails to vacate and surrender the Premises as of the Surrender Date as herein required, Tenant shall indemnify, defend and hold harmless Landlord from all costs, losses, expenses or liabilities incurred as a result of such failure to vacate and surrender the Premises to Landlord as of the Surrender Date, including without limitation, claims made by the next succeeding tenant of the Premises and/or its real estate brokers and reasonable attorneys’ fees. Tenant’s obligation to pay Rent and to perform all other Lease obligations for the period up to and including the Surrender Date, and this Section 18(a), shall survive the Surrender Date. In no way shall the remedies to Landlord set forth above in this Section 18(a) be construed to constitute liquidated damages for Landlord’s losses resulting from Tenant’s holdover.

Appears in 1 contract

Samples: Lease (Safeguard Scientifics Inc)

Surrender; Holdover. (a) No later than upon the Expiration Date or earlier termination of Tenant’s right to possession of the Premises (such earlier date, the “Surrender Date”), Tenant shall vacate and surrender the Leased Premises to Landlord at the expiration or sooner termination of the Lease Term in good order and the same shall be in the same condition as Tenant is required to maintain the same during the Lease Termcondition, free of all of Tenant’s personal property except as may otherwise be provided hereinvacant, broom clean,” , wear and otherwise tear excepted, and in accordance conformity with the applicable provisions of the this Lease, including without limitation Sections 9 and 11 and subject to Sections 14 and 15. Tenant shall have no right to holdover hold over beyond the expiration of the Lease Term. If Surrender Date, and if Tenant continues to occupy the Leased Premises after the end of the Lease Term, does not vacate as required such continued occupancy failure shall be deemed an Event of Default and Tenant’s occupancy shall not be construed to effect or constitute anything other than a tenancy-at-sufferance even if tenancy at sufferance. During any period of occupancy beyond the Surrender Date, the amount of Rent owed by Tenant to Landlord accepts will be the Holdover Percentage of the Rent that would otherwise be due under this Lease, without prorating for any partial month of holdover, and except that any provisions in this Lease that limit the amount or defer the payment from Tenant, but in of Additional Rent are null and void. The “Holdover Percentage” equals: (i) 150% for the event that a court first 3 months of competent jurisdiction deems such holdover; and (ii) 200% for any period of holdover beyond 3 months. The acceptance of a payment to constitute acceptance Rent by Landlord or the failure or delay of “rent”, such acceptance Landlord in notifying or evicting Tenant following the Surrender Date shall not create no any tenancy rights in Tenant beyond a tenancy-at-will under the terms and conditions stated herein but at a Base Rent rate equal to one hundred fifty percent (150%) of the Base Rent applicable immediately preceding the end of the Lease Term, plus all additional Rent, until (i) any such payments by Tenant shall vacate the Leased Premises; (ii) the termination of the tenancy-at-will; or (iii) Landlord shall give notice of a different rental amount. Nothing contained in this Section shall may be deemed to (a) constitute consent applied by Landlord to such occupancy or holdover by Tenant; (b) confer any rights on Tenant as more than a tenant-at-sufferance oragainst its costs and expenses, if Landlord accepts any rental payments applicable to such period of holding overincluding reasonable attorneys’ fees, a tenant-at-will; or (c) relieve Tenant from liability for damages suffered incurred by Landlord as a result of such holding holdover. The provisions of this Section shall not constitute a waiver by Landlord of any right of reentry as set forth in this Lease; nor shall receipt of any Rent or any other act in apparent affirmance of the tenancy operate as a waiver of Landlord’s right to terminate this Lease for a breach of any of the terms, covenants, or obligations herein on Tenant’s part to be performed. No option to extend this Lease shall have been deemed to have occurred by Tenant’s holdover, and any and all options to extend this Lease or expand the Premises shall be deemed terminated and of no further effect as of the first date that Tenant holds over. In addition, if Tenant fails to vacate and surrender the Premises as herein required, Tenant shall indemnify, defend, and hold harmless Landlord from and against any and all costs, losses, expenses, or liabilities incurred as a result of or related to such failure, including without limitation, claims made by any succeeding tenant and real estate brokers’ claims and reasonable attorneys’ fees. Tenant’s obligation to pay Rent and to perform all other Lease obligations for the period up to and including the Surrender Date, and the provisions of this Section, shall survive the Expiration Date. In no way shall the remedies to Landlord set forth above be construed to constitute liquidated damages for Landlord’s losses resulting from Tenant’s holdover.

Appears in 1 contract

Samples: Lease (Sailpoint Technologies Holdings, Inc.)

Surrender; Holdover. Tenant Sublessee shall vacate and surrender the Leased Subleased Premises to Landlord Sublessor at the expiration or sooner termination of the Lease Sublease Term and the same shall be in the same condition as Tenant Sublessee is required to maintain the same during the Lease Sublease Term, free of all of TenantSublessee’s personal property except as may otherwise be provided herein, “broom clean,” and otherwise in accordance with the provisions of the LeaseSublease. Tenant Sublessee shall have no right to holdover beyond the expiration of the Lease Sublease Term. If Tenant Sublessee continues to occupy the Leased Subleased Premises after the end of the Lease Sublease Term, such continued occupancy shall be deemed a tenancy-at-sufferance even if Landlord Sublessor accepts any payment from TenantSublessee, but in the event that a court of competent jurisdiction deems such acceptance of a payment to constitute acceptance of “rent”, such acceptance shall create no rights in Tenant Sublessee beyond a tenancy-at-at- will under the terms and conditions stated herein but at a Base Rent rate equal to one hundred fifty percent (150%) of the Base Rent applicable immediately preceding the end of the Lease Sublease Term, plus all additional Rent, until (i) Tenant Sublessee shall vacate the Leased Subleased Premises; (ii) the termination of the tenancy-at-will; or (iii) Landlord Sublessor shall give notice of a different rental amount. Nothing contained in this Section shall be deemed to (a) constitute consent by Landlord Sublessor to such occupancy or holdover by TenantSublessee; (b) confer any rights on Tenant Sublessee as more than a tenantSublessee-at-sufferance or, if Landlord Sublessor accepts any rental payments applicable to such period of holding over, a tenantSublessee-at-will; or (c) relieve Tenant Sublessee from liability for damages suffered by Landlord Sublessor as a result of such holding over.

Appears in 1 contract

Samples: Escrow Agreement (Star Equity Holdings, Inc.)

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