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. 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. (b) Prior to the Expiration Date or sooner termination of Tenant’s right to possession of the Premises, Tenant, at Tenant’s expense, shall remove from the Premises Tenant’s Property and all telephone, security, and communication equipment system wiring and cabling, and restore in a good and workmanlike 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 restored as aforesaid as reasonably determined by Landlord. The foregoing notwithstanding, Tenant shall not be required to remove a Specialty Alteration if at the time Tenant requests Landlord’s consent to such Specialty Alteration, Tenant provides Landlord with written notification that Tenant desires to not be required to remove such Specialty Alteration and Landlord consents in writing to Tenant’s non-removal request. A “Specialty Alteration” means an Alteration that: (i) Landlord required to be removed in connection with Landlord’s consent to making such Alteration; or (ii) are not normal and customary leasehold improvements typically found in comparable office space at comparable class A office buildings in the market in which the Project is located, such as kitchens (other than a pantry installed for the use of Tenant’s employees only), executive restrooms, computer room installations, supplemental HVAC equipment and components, safes, vaults, libraries or file rooms requiring reinforcement of floors, internal staircases, slab penetrations, non-Building standard life safety systems, security systems, specialty door locksets (such as cipher locks) or lighting, and any demising improvements done by or on behalf of Tenant after the Commencement Date. If Tenant fails to remove any of Tenant’s Property, wiring, or cabling as required herein, the same shall be deemed abandoned and Landlord, at Tenant’s expense, may remove and dispose of same and repair and restore any damage caused thereby, or, at Landlord’s election, such Tenant’s Property, wiring, and cabling shall become Landlord’s property. Tenant shall not remove any Alteration (other than Specialty Alterations) from the Premises without the prior written consent of Landlord.

Appears in 2 contracts

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

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. (b) Prior to the Surrender Date, Tenant, at Tenant’s expense, shall remove from the Premises Tenant’s Property and all telephone, security (but excluding communication equipment system) wiring and cabling, and restore in a good and workmanlike 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 restored as aforesaid as reasonably determined by Landlord. Notwithstanding the foregoing, Tenant shall not be required to remove a Specialty Alteration if at the time Tenant requests Landlord’s consent to such Specialty Alteration, Tenant provides Landlord with written notification that Tenant desires to not be required to remove such Specialty Alteration and Landlord consents in writing to Tenant’s non-removal request. A “Specialty Alteration” means an Alteration that: (i) Landlord required to be removed in connection with Landlord’s consent to making such Alteration; or (ii) is not Building standard, including without limitation kitchens (other than a pantry installed for the use of Tenant’s employees only), executive restrooms, computer room installations, supplemental HVAC equipment and components, safes, vaults, libraries or file rooms requiring reinforcement of floors, internal staircases, slab penetrations, non-Building standard life safety systems, security systems, specialty door locksets (such as cipher locks) or lighting, and any demising improvements done by or on behalf of Tenant after the Commencement Date. If Tenant fails to remove any of Tenant’s Property, wiring, or cabling as required herein, the same shall be deemed abandoned and Landlord, at Tenant’s expense, may remove and dispose of same and repair and restore any damage caused thereby, or, at Landlord’s election, such Tenant’s Property, wiring, and cabling shall become Landlord’s property. Tenant shall not remove any Alteration (other than Specialty Alterations) from the Premises without the prior written consent of Landlord.

Appears in 2 contracts

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

Surrender; Holdover. a. On or prior to expiration or earlier termination of this Lease, Tenant shall vacate remove all of its personal property and trade fixtures 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 date Landlord delivers possession of the Premises to Tenant, reasonable wear and tear, alterations that Landlord agrees in writing may be surrendered, casualty and condemnation, excepted, and with all closures and requirements by any governmental agencies with respect to the use of Hazardous Materials at the Premises completed. If the Premises are not so surrendered, then Tenant is shall be liable to Landlord for all costs incurred by Landlord in returning the Premises to the required condition. At least two (2) months prior to maintain the same during surrender of the Lease TermPremises, Tenant shall deliver to Landlord a description of the actions proposed (or required by any governmental authority) to be taken to surrender the Premises free from any residual impact from the use of Hazardous Materials and otherwise released for unrestricted use and occupancy (the “Surrender Plan”). Such Surrender Plan shall be accompanied by a listing of (i) all Hazardous Materials licenses and permits held by or on behalf of any Tenant Party with respect to the Premises, and (ii) all Hazardous Materials used, stored, handled, treated, generated, released, or disposed of from the Premises and any other information reasonably requested by Landlord and shall be subject to the review and approval of Landlord. On or before such surrender, Tenant shall deliver to Landlord evidence that the approved Surrender Plan has been satisfactorily completed. On or prior to expiration or earlier termination of this Lease, Tenant shall return to Landlord all keys and/or access cards with respect to the Project. Any of Tenant’s personal property except not removed by Tenant 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 permitted or required herein shall be deemed abandoned and may be stored, removed, and disposed of by Landlord at Tenant’s expense. All obligations of Tenant hereunder not fully performed as of the termination of the Term shall survive the expiration or earlier termination of this Lease. b. If Tenant does not surrender the Premises upon the expiration or earlier termination of this Lease as required above, Tenant shall become a tenancy-at-tenant at sufferance even if Landlord accepts any payment from Tenant, but in the event that a court upon all 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 of this Lease, except that Base Rent rate shall be equal to one hundred fifty percent (150%) of the Base Rent applicable immediately preceding payable under this Lease during the end last month of the Lease Term, plus all additional Rent, until (i) and Tenant shall vacate indemnify, defend, protect and hold harmless Landlord from and against all losses, costs, claims, damages and liabilities resulting from Tenant’s delay in surrendering the Leased Premises; (ii) . Acceptance by Landlord of Rent after the expiration or earlier termination of the tenancy-at-will; this Lease shall not result in a renewal or (iii) Landlord shall give notice reinstatement 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 overLease.

Appears in 2 contracts

Samples: Lease (Protagonist Therapeutics, Inc), Lease (Protagonist Therapeutics, 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. (b) No later than 11:59 pm on the Surrender Date, Tenant, at Tenant’s expense, shall remove from the Premises Tenant’s Property and all telephone, security, and communication equipment system wiring and cabling, and restore in a good and workmanlike manner any damage to the Premises and/or the Building caused by such removal. Notwithstanding the foregoing, Tenant shall not be required to remove a Specialty Alteration if at the time Tenant requests Landlord’s consent to such Specialty Alteration, Tenant provides Landlord with written notification that Tenant desires to not be required to remove such Specialty Alteration and Landlord consents in writing to Tenant’s non-removal request. A “Specialty Alteration” means an Alteration that: (i) Landlord required to be removed in connection with Landlord’s consent to making such Alteration; or (ii) is not typically found in other tenant spaces in Class A Projects, including without limitation executive restrooms and kitchens that require separate ventilation located in the Premises, safes, vaults, libraries or file rooms requiring reinforcement of floors, internal staircases, slab penetrations larger than 6 inches circumference, security systems, and specialty door locksets (such as cipher locks). If Tenant fails to remove any of Tenant’s Property, wiring, or cabling as required herein, the same shall be deemed abandoned and Landlord, at Tenant’s expense, may remove and dispose of same and repair and restore any damage caused thereby, or, at Landlord’s election, such Tenant’s Property, wiring, and cabling shall become Landlord’s property. Tenant shall not remove any Alteration (other than Specialty Alterations) from the Premises without the prior written consent of Landlord. Notwithstanding the foregoing, Tenant shall have no obligation to remove any of the Leasehold Improvements that are not a Specialty Alteration. Notwithstanding anything to the contrary in this Lease, if at any time during the Term after the 18-month anniversary of the Commencement Date the Premises do not comprise all of the Rentable Floor Area of the Building, then as soon as commercially reasonable after such occurrence, and in any event by no later than the Surrender Date, Tenant shall restore the first floor lobby to its original design as shown on the preliminary renderings attached hereto as Exhibit J at Tenant’s sole cost and expense. In such event, Landlord’s and Tenant’s architects shall use good faith efforts to work cooperatively to develop the most practical plan for such restoration.

Appears in 1 contract

Samples: Lease (Sailpoint Technologies Holdings, Inc.)

Surrender; Holdover. Tenant shall vacate and surrender the Leased Premises to Landlord at 20.1. At the expiration or sooner termination of this Lease, the Lease Term Tenant will peaceably surrender the Leased Premises in good order, condition and repair, excepting reasonable wear and tear and excepting damage by fire or other casualty which has been insured against. Tenant, at Landlord’s option prior to the same shall be expiration or termination of this Lease, will remove all cable and communications lines installed by Tenant or at Tenant’s request and restore and repair any damage caused in the same condition as Tenant is required to maintain the same during the Lease Term, free removal of all of Tenant’s personal property except as may otherwise be provided herein, “broom clean,” such cable and otherwise in accordance with the provisions of the Lease. Tenant shall have no right to holdover beyond the expiration of the Lease Termcommunications lines. 20.2. If the Tenant continues to occupy remains in possession of the Leased Premises after the end expiration of the term of this Lease Termand continues to pay rent without any express agreement as to holding over, such continued occupancy shall the Landlord’s acceptance of rent will be deemed an acknowledgment of the Tenant’s holding over upon a month-to-month tenancy-at-sufferance even if Landlord accepts any payment from Tenant; subject, but in the event that a court however, to all 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 this Lease Term, plus all additional Rent, until except as to: (i) Tenant shall vacate the Leased Premises; term hereof and (ii) the termination rent which will be based on the fair market value of the tenancyLeased Premises as determined from time to time by the Landlord. 20.3. If the Tenant remains in possession of the Leased Premises after the expiration of the term of this Lease, whether as a month-atto-will; month tenant pursuant to Paragraph 20.2 or (iii) otherwise, and the Landlord at any time declines to accept the rent at the rate specified herein and demands that the Tenant vacate the Leased Premises and the Tenant fails to do so, the Tenant shall give notice of a different rental amount. Nothing contained in this Section shall thereafter be deemed to (a) constitute consent by be wrongfully holding over and occupying the Leased Premises as a tenant at sufferance. The Tenant will nevertheless be subject to all of the terms and conditions of this Lease except as to the term hereof and except that the Tenant will pay, in view of the difficulty or impracticability of determining the actual amount of the damages that the Landlord would incur, as liquidated damages for the Tenant’s wrongful use of the Leased Premises and the Landlord’s inability to such occupancy lease the Leased Premises to others or holdover by Tenant; (b) confer to use the same for any rights on Tenant other purpose and not as more than a tenant-at-sufferance or, if Landlord accepts any rental payments applicable to such period of holding overpenalty, a tenant-at-will; monthly rent equal to 150 % of the fair market value as determined pursuant to Paragraph 20.2, together with all actual costs or damages (cincluding reasonable attorneys’ fees) relieve Tenant from liability for damages suffered sustained by the Landlord as a result on account of such holding over.

Appears in 1 contract

Samples: Lease Agreement (Dynamic Health Products Inc)

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 -7- after the end of the Lease Term, such continued occupancy shall be deemed a tenancy-at-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. 13.

Appears in 1 contract

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

Surrender; Holdover. Tenant (a) No employee of Landlord or Landlord’s agent shall vacate and have any power to accept the keys of the Premises prior to the termination of the Lease. The delivery of key s to an employee of Landlord or Landlord’s agent shall not operate as a termination of the Lease or a surrender of the Leased Premises. (b) If the Premises to Landlord at are not surrendered upon the expiration or sooner termination of this Lease, then from and after the Lease Term and tenth (10th) day after the same shall be Expiration Date, Tenant hereby indemnifies Landlord against liability resulting front delay by Tenant in so surrendering the same condition as Tenant is required to maintain the same during the Lease TermPremises, 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 Termincluding any claims made by any succeeding tenant or prospective tenant founded upon such delay. If Tenant continues to occupy remains in possession of the Leased Premises after the end expiration or sooner termination of this Lease without the execution of a new lease, Tenant, at the option of Landlord, shall be deemed to be occupying the Premises as a tenant from month-to-month and such tenancy shall not be deemed to extend or renew the term of this Lease, and Tenant shall pay to Landlord for use and occupancy of the Premises an amount equal to one and one-half (1 1/2) times the monthly installment of the annual rental rate and additional rent which was payable by Tenant to Landlord during the last month of the term hereof for the first thirty (30) days of such holdover and thereafter, the greater of (i) two (2) times the monthly installment of the annual rental rate and additional rent which was payable by Tenant to Landlord during the last month of the term hereof, or (ii) the then fair market rental value of the Premises as determined by Landlord, for each month or any part thereof, subject to all of the other terms of this Lease Term, insofar as the same are applicable to a month-to-month tenancy . Neither the billing nor the collection of rent for use and occupancy during such continued occupancy holdover in the above amount shall be deemed a tenancy-at-sufferance even if waiver of any right of Landlord accepts any payment from to collect damages for Tenant, but in the event that a court of competent jurisdiction deems such acceptance of a payment ’s failure 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) Premises on or before the expiration or sooner termination of this Lease. Tenant’s obligations under this Article 56 shall survive the tenancy-at-will; expiration or (iii) Landlord shall give notice sooner termination 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 overLease.

Appears in 1 contract

Samples: Lease Agreement (Borderfree, Inc.)

Surrender; Holdover. In the event Landlord and Tenant do not enter into the Build to Suit Lease prior to the expiration of the Temporary Premises Term, then upon Tenant’s vacation and surrender of the Temporary Premises to Landlord, Tenant shall be required to remove any cabling from the Temporary Premises that was installed by Tenant at Tenant’s sole cost and expense, and Tenant shall surrender the Temporary Premises upon the expiration of the Temporary Premises Term in the condition received, reasonable wear and tear excepted, failing which Landlord shall, at Tenant's sole cost and expense, repair and restore the Premises to the condition existing prior to Landlord's delivery thereof to Tenant, reasonable wear and tear excepted; provided that for the avoidance of doubt, Tenant shall have no restoration obligations with respect to the wall to be constructed by Landlord, nor responsible for any cost or expenses incurred by Landlord to remove such wall following Tenant’s surrender of the Temporary Premises. In the event Landlord and Tenant enter into the Build to Suit Lease, Tenant shall remove its personal property from the Temporary Premises and comply with the surrender obligations of the Lease, but shall not have an obligation to remove cabling or improvements or restore the Temporary Premises to the condition received. The terms of Article 16 of the Original Lease shall apply in the event Tenant fails to vacate and surrender the Leased Temporary Premises to Landlord at the expiration or sooner termination as 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 Temporary Premises 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 1 contract

Samples: Lease (Arcus Biosciences, Inc.)

Surrender; Holdover. (a) After the Term ends, Tenant shall vacate peaceably leave and surrender the Leased Premises Property to Landlord at in good order, condition, and repair, ordinary wear and tear excepted, and in accordance with the expiration or sooner termination requirements of Section 16 of this Lease, including the Lease Term and the same shall be in the same condition as removal of any Alterations that Tenant is required to maintain remove under Section 16, which obligations shall survive the same during end of the Lease Term. On or before the end of the Term, free of Tenant shall remove from the Leased Property all of Tenant’s personal Property situated thereon, and shall repair any damage caused by such removal. Property not so removed shall become Landlord’s property. Tenant represents and warrants that any property except as left at the Leased Property shall have been owned by the Tenant free and clear of any liens or other encumbrances. Landlord may otherwise cause such property to be provided hereinremoved from the Leased Property and disposed of without accountability to Tenant, “broom clean,” it being understood that Tenant shall reimburse Landlord for the reasonable costs and otherwise expenses incurred by Landlord in accordance with the provisions removing and disposing of the Leasesuch property. Tenant shall have no right to holdover beyond pay the expiration cost of such removal and disposition and of repairing any damage caused by such removal, which obligation shall survive the end of the Lease Term. Except for surrender at the end of the Term, no surrender to Landlord of this Lease or of the Leased Property shall be valid or effective unless agreed to in writing by Landlord. (b) If Tenant continues to occupy the Leased Premises holds over after the end of the Lease Term, such continued occupancy shall be deemed a tenancy-at-sufferance even if Landlord accepts without derogating from any payment from of Landlord’s rights hereunder and without granting any rights of possession to Tenant, but in Tenant shall pay to Landlord upon demand, as Landlord’s sole measure of monetary damages on account of such holdover and as liquidated damages (and not as a penalty), a use and occupancy fee for 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 period Tenant beyond a tenancy-at-will under the terms and conditions stated herein but at a Base Rent rate holds over equal to (a) for a period ending on the first to occur of forty-five (45) days following the end of the Term, or Landlord’s providing Tenant Notice that Landlord has entered into a commitment to lease the Leased Property, or any other contractual commitment with respect to the Leased Property which would be adversely affected by Tenant’s continued possession of the Leased Property following the expiration of the Term (collectively a “Replacement Commitment”), one hundred fifty percent (150%) of percent of, and (b) thereafter, two hundred (200%) percent of, the Base Basic Rent applicable payable immediately preceding before the end of the Lease Term, prorated on a daily basis, plus all additional Rent, until (i) Additional Rent 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 would have been liable to pay had 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 overLease not ended.

Appears in 1 contract

Samples: Lease Agreement (West Pharmaceutical Services Inc)

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 27 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, 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, Tenaxx’x xndemnification 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 Tenaxx’x xoldover.

Appears in 1 contract

Samples: Lease Agreement (BlackSky Technology Inc.)

Surrender; Holdover. 24.01 On the last day of the term of this lease, or upon any earlier termination of this lease, or upon any re-entry by Landlord upon the Demised Premises, Tenant shall vacate quit and surrender the Leased Demised Premises to Landlord at the expiration or sooner termination of the Lease Term in good order and the same in broom clean condition, except for ordinary wear and tear and Tenant shall be in the same condition as Tenant is required to maintain the same during the Lease Term, free of remove all of Tenant’s personal property 's Property therefrom except as may otherwise be expressly provided hereinin this lease and shall restore the Demised Premises wherever such removal results in damage thereto. (a) In the event this lease is not renewed or extended or a new lease is not entered into between the parties, “broom clean,” and otherwise in accordance with the provisions of the Lease. if Tenant shall have no right to holdover beyond then hold over after the expiration of the Lease Term. If term of this lease, and if Landlord shall then not proceed to remove Tenant continues from the Demised Premises in the manner permitted by law (or shall not have given written notice to occupy Tenant that Tenant must vacate the Leased Demised Premises) irrespective of whether or not Landlord accepts rent from Tenant for a period beyond the Expiration Date, the parties hereby agree that Xxxxxx's occupancy of the Demised Premises after the end expiration of the Lease Term, such continued occupancy term shall be deemed under a tenancymonth-atto-sufferance even month tenancy commencing on the first day after the expiration of the term, which tenancy shall be upon all of the terms set forth in this lease except Tenant shall pay on the first day of each month of the holdover period as fixed rent, an amount equal to two (2) times one-twelfth of the fixed rent and additional rent payable by Tenant during the last year of the term of this lease (i.e., the year immediately prior to the holdover period). Further, Landlord shall not be required to perform any work, furnish any materials or make any repairs within the Demised Premises during the holdover period. It is further stipulated and agreed that if Landlord accepts shall, at any payment time after the expiration of the original term or after the expiration of any term created thereafter, proceed to remove Tenant from Tenantthe Demised Premises as a holdover, but the fixed rent for the use and occupancy of the Demised Premises during any holdover period shall be calculated in the event that a court of competent jurisdiction deems such acceptance of a payment same manner as set forth above. In addition to constitute acceptance of “rent”the foregoing, 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 be entitled to recover from Tenant any losses or damages arising from such holdover. (b) Notwithstanding anything to the contrary contained in this Section lease, the acceptance of any rent paid by Tenant pursuant to subsection 24.02(a) above shall not preclude Landlord from commencing and prosecuting a holdover or summary eviction proceeding, and the preceding sentence 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 tenantbe an "agreement expressly providing otherwise" within the meaning of Section 232-at-sufferance or, if Landlord accepts any rental payments applicable to such period c of holding over, a tenant-at-will; or the Real Property Law of the State of New York. (c) relieve All damages to Landlord by reason of holding over by Tenant from liability for damages suffered may be of the subject of a separate action and need not be asserted by Landlord as a result of such holding overin any summary proceedings against Xxxxxx.

Appears in 1 contract

Samples: Lease (Promotions Com Inc)

Surrender; Holdover. 24.01 On the last day of the term of this lease, or upon any earlier termination of this lease, or upon any re-entry by Landlord upon the Demised Premises, Tenant shall vacate quit and surrender the Leased Demised Premises to Landlord in good order, condition and repair, except for ordinary wear and tear and damage for which Landlord is responsible to repair pursuant to the provisions of this lease, and Tenant shall remove all of Tenant's Property therefrom except as otherwise expressly provided in this lease and, except as otherwise expressly provided in this lease, shall restore the Demised Premises wherever such removal results in damage thereto. (a) In the event this lease is not renewed or extended or a new lease is not entered into between the parties, and if Tenant shall then hold over after the expiration of the term of this lease, and if Landlord shall then not proceed to remove Tenant from the Demised Premises in the manner permitted by law (or shall not have given written notice to Tenant that Tenant must vacate the Demised Premises) irrespective of whether or not Landlord accepts rent from Tenant for a period beyond the Expiration Date, the parties hereby agree that Tenant's occupancy of the Demised Premises after the expiration of the term shall be under a month-to-month tenancy commencing on the first day after the expiration of the term, which tenancy shall be upon all of the terms set forth in this lease except for Section 18.07, and Articles 39 and 40 except that Tenant shall pay on the first day of each month of the holdover period as fixed rent, an amount equal to one and one-half (1 1/2) times one-twelfth of the fixed rent and additional rent payable by Tenant during the last year of the term of this lease (I.E., the year immediately prior to the holdover period) for the first month (or any portion thereof) of such holdover period and two (2) times one-twelfth of the fixed rent and additional rent payable by Tenant during the last year of the term of this lease for the each month (or portion thereof) thereafter. It is further stipulated and agreed that if Landlord shall, at any time after the expiration of the original term or after the expiration of any term created thereafter, proceed to remove Tenant from the Demised Premises as a holdover, the fixed rent for the use and occupancy of the Demised Premises during any holdover period shall be calculated in the same manner as set forth above. In addition to the foregoing, but subject to the provisions of subsection 30.02(b) below, Landlord shall be entitled to recover from Tenant all actual out-of-pocket costs and expenses, resulting from such holdover, including all attorneys' fees and disbursements and court costs incurred or paid by Landlord. (b) Notwithstanding anything to the contrary contained in this lease, the acceptance of any rent paid by Tenant pursuant to subsection 24.02(a) above shall not preclude Landlord from commencing and prosecuting a holdover or summary eviction proceeding, and the preceding sentence shall be deemed to be an "agreement expressly providing otherwise" within the meaning of Section 232-c of the Real Property Law of the State of New York. (c) All damages to Landlord by reason of holding over by Tenant may be of the subject of a separate action and need not be asserted by Landlord in any summary proceedings against Tenant. Tenant acknowledges that possession of the Demised Premises must be surrendered to Landlord at the expiration or sooner termination of the Lease Term term of this lease. Tenant agrees to indemnify and save Landlord harmless against all liabilities, costs, suits, demands, charges, and expenses of any kind or nature, including attorneys' fees and disbursements, resulting from a delay by Tenant in so surrendering the same Demised Premises, including, without limitation, any claims made by any succeeding tenant founded on such delay, except that Landlord shall not be entitled to make a claim for consequential damages under this Section 24.02 unless Tenant remains 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 possession of the Lease. Tenant shall have no right to holdover beyond Demised Premises (or any portion thereof) for more than four (4) months after the expiration of the Lease Term. If Tenant continues to occupy the Leased Premises after the end term of the Lease Term, such continued occupancy shall this lease (without taking into account any month-to-month tenancy that may 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 created 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 over24.02).

Appears in 1 contract

Samples: Lease Agreement (About Com Inc)

Surrender; Holdover. 24.01 On the last day of the term of this lease, or upon any earlier termination of this lease, or upon any re-entry by Landlord upon the Demised Premises, Tenant shall vacate quit and surrender the Leased Demised Premises to Landlord at the expiration or sooner termination of the Lease Term in good order, condition and the same repair, except for ordinary wear and tear, and damage by casualty, and Tenant shall be in the same condition as Tenant is required to maintain the same during the Lease Term, free of remove all of Tenant’s personal property Property therefrom (and repair any and all damage caused thereby) except as may otherwise be expressly provided hereinin this lease and shall restore the Demised Premises wherever such removal results in damage thereto. (a) In the event this lease is not renewed or extended or a new lease is not entered into between the parties, “broom clean,” and otherwise in accordance with the provisions of the Lease. if Tenant shall have no right to holdover beyond then hold over after the expiration of the Lease Term. If term of this lease, and if Landlord shall then not proceed to remove Tenant continues from the Demised Premises in the manner permitted by law (or shall not have given written notice to occupy Tenant that Tenant must vacate the Leased Demised Premises) irrespective of whether or not Landlord accepts rent from Tenant for a period beyond the Expiration Date, the parties hereby agree that Tenant’s occupancy of the Demised Premises after the end expiration of the Lease Term, such continued occupancy term shall be deemed under a tenancymonth-atto-sufferance even month tenancy commencing on the first day after the expiration of the term, which tenancy shall be upon all of the terms set forth in this lease except Tenant shall pay on the first day of each month of the holdover period as fixed rent, an amount equal to an amount equal to 200% times one-twelfth of the sum of the fixed rent and additional rent payable by Tenant during the last year of the term of this lease (i.e., the year immediately prior to the holdover period). Further, Landlord shall not be required to perform any work, furnish any materials or make any repairs within the Demised Premises during the holdover period. It is further stipulated and agreed that if Landlord accepts shall, at any payment time after the expiration of the original term or after the expiration of any term created thereafter, proceed to remove Tenant from Tenantthe Demised Premises as a holdover, but the fixed rent for the use and occupancy of the Demised Premises during any holdover period shall be calculated in the event that a court of competent jurisdiction deems such acceptance of a payment same manner as set forth above. In addition to constitute acceptance of “rent”the foregoing, 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 be entitled to recover from Tenant any losses or damages arising from such holdover. (b) Notwithstanding anything to the contrary contained in this Section lease, the acceptance of any rent paid by Tenant pursuant to subsection 24.02(a) above shall not preclude Landlord from commencing and prosecuting a holdover or summary eviction proceeding, and the preceding sentence 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 tenantbe an “agreement expressly providing otherwise, within the meaning of Section 232-at-sufferance or, if Landlord accepts any rental payments applicable to such period c of holding over, a tenant-at-will; or the Real Property Law of the State of New York. (c) relieve All damages to Landlord by reason of holding over by Tenant from liability for damages suffered may be of the subject of a separate action and need not be asserted by Landlord as a result of such holding overin any summary proceedings against Tenant.

Appears in 1 contract

Samples: Lease (American Realty Capital New York Recovery Reit Inc)

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. (b) Prior to the Surrender Date, Tenant, at Tenant’s expense, shall remove from the Premises Tenant’s Property and all telephone, security (but excluding communication equipment system) wiring and cabling, and restore in a good and workmanlike 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 restored as aforesaid as reasonably determined by Landlord. Notwithstanding the foregoing: (i) Tenant shall not be required to remove a Specialty Alteration if at the time Tenant requests Landlord’s consent to such Specialty Alteration, Tenant provides Landlord with written notification that Tenant desires to not be required to remove such Specialty Alteration and Landlord consents in writing to Tenant’s non-removal request; and (ii) Tenant shall have no obligation to remove or restore the currently existing internal staircase in the Premises, even if Tenant makes alterations to the staircase during the Term. A “Specialty Alteration” means an Alteration that: (i) Landlord required to be removed in connection with Landlord’s consent to making such Alteration; or (ii) is not Building standard, including without limitation kitchens (other than a pantry installed for the use of Tenant’s employees only), executive restrooms, computer room installations, supplemental HVAC equipment and components, safes, vaults, libraries or file rooms requiring reinforcement of floors, internal staircases, slab penetrations, non-Building standard life safety systems, security systems, specialty door locksets (such as cipher locks) or lighting, and any demising improvements done by or on behalf of Tenant after the Commencement Date. If Tenant fails to remove any of Tenant’s Property, wiring, or cabling as required herein, the same shall be deemed abandoned and Landlord, at Tenant’s expense, may remove and dispose of same and repair and restore any damage caused thereby, or, at Landlord’s election, such Tenant’s Property, wiring, and cabling shall become Landlord’s property. Tenant shall not remove any Alteration (other than Specialty Alterations) from the Premises without the prior written consent of Landlord. ​ ​ ​

Appears in 1 contract

Samples: Lease Agreement (Passage BIO, Inc.)

Surrender; Holdover. 24.01 On the last day of the term of this lease, or upon any earlier termination of this lease, or upon any re-entry by Landlord upon the Demised Premises, Tenant shall vacate quit and surrender the Leased Demised Premises to Landlord at the expiration or sooner termination of the Lease Term in good order, condition and the same repair, except for ordinary wear and tear and Tenant shall be in the same condition as Tenant is required to maintain the same during the Lease Term, free of remove all of Tenant’s personal property Property therefrom (and repair any and all damage caused thereby) except as may otherwise be expressly provided hereinin this lease and shall restore the Demised Premises wherever such removal results in damage thereto. (a) In the event this lease is not renewed or extended or a new lease is not entered into between the parties, “broom clean,” and otherwise in accordance with the provisions of the Lease. if Tenant shall have no right to holdover beyond then hold over after the expiration of the Lease Term. If term of this lease, and if Landlord shall then not proceed to remove Tenant continues from the Demised Premises in the manner permitted by law (or shall not have given written notice to occupy Tenant that Tenant must vacate the Leased Demised Premises) irrespective of whether or not Landlord accepts rent from Tenant for a period beyond the Expiration Date, the parties hereby agree that Tenant’s occupancy of the Demised Premises after the end expiration of the Lease Term, such continued occupancy term shall be deemed under a tenancymonth-atto-sufferance even month tenancy commencing on the first day after the expiration of the term, which tenancy shall be upon all of the terms set forth in this lease except Tenant shall pay on the first day of each month of the holdover period as fixed rent, an amount equal to an amount equal to two times one-twelfth of the sum of the fixed rent and additional rent payable by Tenant during the last year of the term of this lease (i.e., the year immediately prior to the holdover period). Further, Landlord shall not be required to perform any work, furnish any materials or make any repairs within the Demised Premises during the holdover period. It is further stipulated and agreed that if Landlord accepts shall, at any payment time after the expiration of the original term or after the expiration of any term created thereafter, proceed to remove Tenant from Tenantthe Demised Premises as a holdover, but the fixed rent for the use and occupancy of the Demised Premises during any holdover period shall be calculated in the event that a court of competent jurisdiction deems such acceptance of a payment same manner as set forth above. In addition to constitute acceptance of “rent”the foregoing, 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 be entitled to recover from Tenant any losses or damages arising from such holdover. (b) Notwithstanding anything to the contrary contained in this Section lease, the acceptance of any rent paid by Tenant pursuant to subsection 24.02(a) above shall not preclude Landlord from commencing and prosecuting a holdover or summary eviction proceeding, and the preceding sentence 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 tenantbe an “agreement expressly providing otherwise, within the meaning of Section 232-at-sufferance or, if Landlord accepts any rental payments applicable to such period c of holding over, a tenant-at-will; or the Real Property Law of the State of New York. (c) relieve All damages to Landlord by reason of holding over by Tenant from liability for damages suffered may be of the subject of a separate action and need not be asserted by Landlord as a result of such holding overin any summary proceedings against Tenant.

Appears in 1 contract

Samples: Lease Agreement (American Realty Capital New York Recovery Reit Inc)

Surrender; Holdover. 18.1 At the termination of this lease, the Tenant shall vacate and will peaceably surrender the Leased Premises to Landlord at in good order, condition and repair, excepting reasonable wear and tear and excepting damage by fire or other casualty which has been insured against. 18.2 If the expiration or sooner termination Tenant remains in possession 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 expiration of the Lease Termterm of this lease and continues to pay rent without any express agreement as to holding over, such continued occupancy shall the Landlord's acceptance of rent will be deemed an acknowledgment of the Tenant's holding over upon a month-to-month tenancy-at-sufferance even if Landlord accepts any payment from Tenant, but in the event that a court subject, however, to all 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 of this lease except as to one hundred fifty percent (150%) the term hereof. 18.3 If the tenant remains in possession of the Base Rent applicable immediately preceding leased premises after the end expiration of the Lease Termterm of this lease, plus all additional Rentwhether as a month-to-month tenant pursuant to Paragraph 18.2 or otherwise, until (i) Tenant shall vacate and the Leased Premises; (ii) Landlord at any time declines to accept the termination of rent at the tenancy-at-will; or (iii) Landlord shall give notice of a different rental amount. Nothing contained in this Section shall rate specified herein, the Tenant's holding over thereafter will 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 be as a result tenant at sufferance. The Tenant will nevertheless be subject to all of the terms and conditions of this lease except as to the term hereof and any option to renew the term and except that the tenant will pay a monthly rent double the amount otherwise due hereunder and will pay all loss, cost or damage (including attorneys' fees) sustained by the Landlord on account of such holding over.

Appears in 1 contract

Samples: Lease (Mim Corp)

Surrender; Holdover. 24.01 On the last day of the term of this Lease, or upon any earlier termination of this Lease, or upon any re-entry by Landlord upon the Demised Premises, Tenant shall vacate quit and surrender the Leased Demised Premises to Landlord at the expiration or sooner termination of the Lease Term in good order, condition and the same repair, except for ordinary wear and tear and Tenant shall be in the same condition as Tenant is required to maintain the same during the Lease Term, free of remove all of Tenant’s personal property Property therefrom except as may otherwise be expressly provided hereinin this Lease and shall repair the Demised Premises wherever such removal results in damage thereto. (a) In the event this Lease is not renewed or extended or a new lease is not entered into between the parties, “broom clean,” and otherwise in accordance with the provisions of the Lease. if Tenant shall have no right to holdover beyond then hold over after the expiration of the Lease Term. If term of this Lease, and if Landlord shall then not proceed to remove Tenant continues from the Demised Premises in the manner permitted by law (or shall not have given written notice to occupy Tenant that Tenant must vacate the Leased Demised Premises) irrespective of whether or not Landlord accepts rent from Tenant for a period beyond the Expiration Date, the parties hereby agree that Tenant’s occupancy of the Demised Premises after the end expiration of the Lease Term, such continued occupancy term shall be deemed under a tenancymonth-atto-sufferance even if Landlord accepts any payment from Tenantmonth tenancy commencing on the first day after the expiration of the term, but in the event that a court which tenancy shall be upon all 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 set forth in this Lease except Tenant shall pay (i) on the first day of the first month of the holdover period as fixed rent, an amount equal to one hundred fifty percent (150%) percent of the Base Rent applicable immediately preceding the end monthly rate of the Lease Term, plus all fixed rent and additional Rent, until (i) Tenant shall vacate the Leased Premises; rent and (ii) on the termination first day of the tenancy-at-will; or second and any succeeding month of the holdover period a amount equal to two hundred (iii200%) percent of the monthly rate of the fixed rent and additional rent payable by Tenant during the last year of the term of this Lease (i.e., the year immediately prior to the holdover period). Further, Landlord shall give notice not be required to perform any work, furnish any materials or make any repairs within the Demised Premises during the holdover period. It is further stipulated and agreed that if Landlord shall, at any time after the expiration of the original term or after the expiration of any term created thereafter, proceed to remove Tenant from the Demised Premises as a different rental amountholdover, the fixed rent for the use and occupancy of the Demised Premises during any holdover period shall be calculated in the same manner as set forth above. Nothing In addition to the foregoing, Landlord shall be entitled to recover from Tenant any losses or damages arising from such holdover. (b) Notwithstanding anything to the contrary contained in this Section Lease, the acceptance of any rent paid by Tenant pursuant to subsection 24.02(a) above shall be deemed to (a) constitute consent by not preclude Landlord to such occupancy from commencing and prosecuting a holdover 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 summary eviction proceeding. (c) relieve All damages to Landlord by reason of holding over by Tenant from liability for damages suffered may be the subject of a separate action and need not be asserted by Landlord as a result of such holding overin any summary proceedings against Tenant.

Appears in 1 contract

Samples: Lease Agreement (Henry Bros. Electronics, 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. (b) Prior to the Surrender Date, Tenant, at Tenant’s expense, shall remove from the Premises Tenant’s Property and all telephone, security, and communication equipment system wiring and cabling, and restore in a good and workmanlike 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 restored as aforesaid as reasonably determined by Landlord. The foregoing notwithstanding, Tenant shall not be required to remove a Specialty Alteration if at the time Tenant requests Landlord’s consent to such Specialty Alteration, Tenant provides Landlord with written notification that Tenant desires to not be required to remove such Specialty Alteration and Landlord consents in writing to Tenant’s non-removal request. A “Specialty Alteration” means an Alteration that: (i) Landlord required to be removed in connection with Landlord’s consent to making such Alteration; or (ii) is not Building standard, including without limitation kitchens (other than a pantry installed for the use of Tenant’s employees only), executive restrooms, computer room installations, supplemental HVAC equipment and components, safes, vaults, libraries or file rooms requiring reinforcement of floors, internal staircases, slab penetrations, non-Building standard life safety systems, security systems, specialty door locksets (such as cipher locks) or lighting, and any demising improvements done by or on behalf of Tenant after the Commencement Date. If Tenant fails to remove any of Tenant’s Property, wiring, or cabling as required herein, the same shall be deemed abandoned and Landlord, at Tenant’s expense, may remove and dispose of same and repair and restore any damage caused thereby, or, at Landlord’s election, such Tenant’s Property, wiring, and cabling shall become Landlord’s property. Tenant shall not remove any Alteration (other than Specialty Alterations) from the Premises without the prior written consent of Landlord.

Appears in 1 contract

Samples: Lease (Mirna Therapeutics, Inc.)

Surrender; Holdover. 24.01 On the last day of the term of this Lease, or upon any earlier termination of this Lease, or upon any re-entry by Landlord upon the Demised Premises, Tenant shall vacate quit and surrender the Leased Demised Premises to Landlord at the expiration or sooner termination of the Lease Term in good order, condition and the same repair, except for ordinary wear and tear and Tenant shall be in the same condition as Tenant is required to maintain the same during the Lease Term, free of remove all of Tenant’s personal property Property therefrom except as may otherwise be expressly provided hereinin this Lease and shall repair the Demised Premises wherever such removal results in damage thereto. (a) In the event this Lease is not renewed or extended or a new lease is not entered into between the parties, “broom clean,” and otherwise in accordance with the provisions of the Lease. if Tenant shall have no right to holdover beyond then hold over after the expiration of the Lease Term. If term of this Lease, and if Landlord shall then not proceed to remove Tenant continues from the Demised Premises in the manner permitted by law (or shall not have given written notice to occupy Tenant that Tenant must vacate the Leased Demised Premises) irrespective of whether or not Landlord accepts rent from Tenant for a period beyond the Expiration Date, the parties hereby agree that Tenant’s occupancy of the Demised Premises after the end expiration of the Lease Term, such continued occupancy term shall be deemed under a tenancymonth-atto-sufferance even if Landlord accepts any payment from Tenantmonth tenancy commencing on the first day after the expiration of the term, but in the event that a court which tenancy shall be upon all 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 set forth in this Lease except Tenant shall pay on the first day of each month of the holdover period as fixed rent, an amount 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) 1.5 times one-twelfth of the fixed rent and additional rent payable by Tenant shall vacate during the Leased Premises; last year of the term of this Lease (i.e., the year immediately prior to the holdover period) for the first (1st) thirty (30) days of such holdover, and (ii) the termination two (2) times one-twelfth of the tenancy-at-will; or (iii) fixed rent and additional rent payable by Tenant during the last year of the term of this Lease thereafter. Further, Landlord shall give notice not be required to perform any work, furnish any materials or make any repairs within the Demised Premises during the holdover period. It is further stipulated and agreed that if Landlord shall, at any time after the expiration of the original term or after the expiration of any term created thereafter, proceed to remove Tenant from the Demised Premises as a different rental amountholdover, the fixed rent for the use and occupancy of the Demised Premises during any holdover period shall be calculated in the same manner as set forth above. Nothing In addition to the foregoing, Landlord shall be entitled to recover from Tenant any losses or damages including, without limitation, consequential damages arising from such holdover. (b) Notwithstanding anything to the contrary contained in this Section Lease, the acceptance of any rent paid by Tenant pursuant to subsection 24.02(a) above shall be deemed to (a) constitute consent by not preclude Landlord to such occupancy from commencing and prosecuting a holdover 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 summary eviction proceeding. (c) relieve All damages to Landlord by reason of holding over by Tenant from liability for damages suffered may be of the subject of a separate action and need not be asserted by Landlord as a result of such holding overin any summary proceedings against Tenant.

Appears in 1 contract

Samples: Lease (Boomerang Systems, 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 month of competent jurisdiction deems such holdover; and (ii) 200% for any period of holdover beyond 1 month. 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 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. 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 Tenant’s holdover.

Appears in 1 contract

Samples: Lease Agreement (Asure Software Inc)

Surrender; Holdover. (a) Upon the expiration or earlier termination of the Term of this Lease, Tenant shall vacate and surrender the Leased Premises Property 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 and suitable for the same during use in which the Lease Term, free of all of Tenant’s personal property Leased Property was originally received from Landlord except as may otherwise be provided hereinrepaired, “broom clean,” rebuilt or altered (including without limitation the alterations listed on Schedule F) as required or permitted by this Lease and otherwise in accordance with the provisions of the Leaseexcept for ordinary wear and tear. Tenant shall have no right remove from the Leased Property on or prior to holdover beyond such expiration or earlier termination all property owned or leased by Tenant from any third party except that agreed upon by Landlord and Tenant in writing, which agreement, if any shall be entered into at least thirty (30) days prior to the expiration or earlier termination of the Term of this Lease, and shall repair any damage caused by such removal. Property not so removed within three (3) Business Days after notice from Landlord shall become the property of Landlord, which may cause such property to be removed from the Leased Property and disposed of, but the cost of any such removal and disposition and of repairing any damage caused by such removal shall be borne by Tenant. (b) Except for surrender upon the expiration or earlier termination of the Term of this Lease, no surrender to Landlord of this Lease Term. or of the Leased Property shall be valid or effective unless agreed to and accepted in writing by Landlord. (c) If the Tenant continues shall continue to occupy the Leased Premises Property after the end expiration or earlier termination of the Lease Termthis Lease, such continued occupancy then Tenant shall be deemed to be a tenancy-at-sufferance even if Landlord accepts any payment holdover tenant, the tenancy of which shall be from Tenant, but in month to month upon 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 same provisions and conditions stated herein but at a Base set forth in this Lease, except that Basic Rent rate for the holdover period shall be an amount equal to one hundred fifty percent thirty (150130%) percent of the Base Basic Rent applicable in effect immediately preceding prior to the end holdover period. The foregoing shall not constitute a waiver of the Landlord’s right or re-entry or any other right granted under this Lease Term, plus all additional Rent, until (i) Tenant and shall vacate not derogate from any of Tenant’s obligations hereunder in respect of the surrender of the Leased Premises; (ii) the termination of the tenancy-at-will; Property 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 overotherwise.

Appears in 1 contract

Samples: Lease Agreement (Wells Real Estate Investment Trust Inc)

Surrender; Holdover. 24.01 On the last day of the Term, or upon any earlier termination of this Sublease, or upon any re-entry by Landlord upon the Premises, Tenant shall vacate quit and surrender the Leased Premises to Landlord broom clean and in good order, condition and repair, except for ordinary wear and tear and damage by casualty or condemnation, and Tenant shall have the obligation to remove property to the extent required under Article 14 and the other applicable provisions of this Sublease and/or by applicable Legal Requirements and shall repair all damage to the Premises and the Building caused by such removal. (a) If Tenant or any Tenant Party shall remain in possession or occupancy of any portion of the Premises, or otherwise hold over, after the expiration of the Term, and if Landlord shall then not proceed to remove Tenant from the Premises in the manner permitted by law (or shall not have given written notice to Tenant that Tenant must vacate the Premises) irrespective of whether or not Landlord accepts rent from Tenant for a period beyond the last day of the Term, the parties hereby agree that Tenant’s occupancy of the Premises after the expiration of the Term shall be under a month-to-month tenancy commencing on the first day after the expiration of the Term, which tenancy shall be upon all of the terms set forth in this Sublease except Tenant shall pay on the first day of first month of the hold over period, as Base Rent, an amount equal to [***]% of one-twelfth of the Base Rent payable by Tenant during the last year of the Term (i.e., the year immediately prior to the holdover period) for the entire Premises, without taking into account any abatements thereof under Articles 22 or 23 hereof or otherwise, plus, as Additional Rent, [***]% of all other rents (including Tax Payment, Expense Payment and all other items of Additional Rent) payable under this Sublease, (i) on the first day of the second month of such holdover period, as Base Rent, an amount equal to [***]% of one-twelfth of the Base Rent payable by Tenant during the last year of the Term for the entire Premises, without taking into account any abatements thereof under Articles 22 or 23 hereof or otherwise, plus, as Additional Rent, [***]% of all other rents (including Tax Payment, Expense Payment and all other items of Additional Rent) payable under this Sublease, and (ii) on the first day of each and every month thereafter, as Base Rent, an amount equal to [***]% of one-twelfth of the Base Rent payable by Tenant during the last year of the Term (i.e., the year immediately prior to the holdover period) for the entire Premises, without taking into account any abatements thereof under Articles 22 or 23 hereof or otherwise, plus, as Additional Rent, [***]% of all other rents (including Tax Payment, Expense Payment and all other items of Additional Rent) payable under this Sublease, it being understood and [***] Represents material which has been redacted and filed separately with the Commission pursuant to a request for confidential treatment pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. agreed that if at time during such holdover periods Tenant is the only occupant of the Building, for the purposes of calculating the Additional Rent payable pursuant to the preceding clauses (i), (ii) and (iii), Tenant’s Proportionate Share shall be [***]%. It is further stipulated and agreed that if Landlord shall, at any time after the expiration of the initial Term (including any renewal terms pursuant to Article 40 hereof) or after the expiration of any term created thereafter pursuant to this Article, proceed to remove Tenant from the Premises as a holdover, the rent for the use and occupancy of the Premises during any holdover period shall be the greater of (x) the applicable rents described in clauses (i), (ii) and (iii) above, determined as if such holdover began on the date succeeding the last day of the initial Term (including any renewal terms pursuant to Article 40 hereof) and not the date succeeding the last day of any month-to-month tenancy created by this Article, and (y) the fair market rental value of the Premises for such month. In addition to the foregoing, Landlord shall be entitled to recover from Tenant all costs, reasonable and actual out-of-pocket expenses, losses and damages arising from such holdover, including all reasonable attorneys’ fees and disbursements and court costs incurred or paid by Landlord. In no event, however, shall Tenant be liable for any consequential or punitive damages suffered by Landlord, except, subject to the provisions of Section 40.01(d), that any costs or damages incurred by Landlord pursuant to the terms of the Existing Superior Lease due to Tenant’s holdover (including a holdover of the Renewal Surrender Premises after the expiration of the initial Term) shall not be deemed consequential or punitive, and shall be recoverable against Tenant hereunder, regardless of whether such costs or damages pursuant to the terms of the Existing Superior Lease (collectively, the “Existing Superior Lease Holdover Damages” ) are in respect of the entire premises demised under the Existing Superior Premises, and not just the Premises, provided, however, that Landlord shall not be entitled to make a claim for the Existing Superior Lease Holdover Damages unless Tenant remains in possession of the Premises (or any portion thereof) for more than thirty (30) days after the expiration of the Term (without taking into account any month-to-month tenancy that may be created under this Section 24.02), except that, subject to the provisions of Section 40.01(d) below, such thirty (30) day period shall not apply to a holdover of any portion of the Renewal Surrender Premises after the expiration of the initial Term. (b) Notwithstanding anything to the contrary contained in this Sublease, the acceptance of any rent paid by Tenant pursuant to subsection (a) above shall not preclude Landlord from commencing and prosecuting a holdover or summary eviction proceeding or from exercising any other right or remedy under this Sublease, at law or in equity, and the preceding sentence shall be deemed to be an “agreement expressly providing otherwise” within the meaning of Section 232-c of the Real Property Law of the State of New York. (c) All damages to Landlord by reason of holding over by Tenant (or by any Tenant Party) may be the subject of a separate action and need not be asserted by [***] Represents material which has been redacted and filed separately with the Commission pursuant to a request for confidential treatment pursuant to Rule 24b-2 under the Securities Exchange Act of 1934, as amended. Landlord in any summary proceedings against Tenant. Tenant acknowledges that possession of the entire Premises must be surrendered 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 1 contract

Samples: Sublease (Jetblue Airways Corp)

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. (b) On or prior to the Surrender Date, Tenant, at Tenant’s expense, shall remove from the Premises Tenant’s Property and all telephone, security, and communication equipment system wiring and cabling, restore in a good and workmanlike 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 restored as aforesaid as at the expiration of the Term or the sooner termination of this Lease. Tenant shall not be required to remove any of the Leasehold Improvements set forth in the Final Plan. Tenant shall not be required to remove a Specialty Alteration if at the time Tenant requests Landlord’s consent to such Specialty Alteration, Tenant provides Landlord with written notification that Tenant desires to not be required to remove such Specialty Alteration and Landlord consents in writing to Tenant’s non-removal request. “Specialty Alteration” means an Alteration that: (i) Landlord required to be removed in connection with Landlord’s consent to making such Alteration; or (ii) are not normal and customary leasehold improvements typically found in comparable office space in Comparable Buildings, such as kitchens (other than a pantry installed for the use of Tenant’s employees only), executive restrooms, computer room installations, supplemental HVAC equipment and components, safes, vaults, libraries or file rooms requiring reinforcement of floors, internal staircases, slab penetrations, non-Building standard life safety systems, security systems, specialty door locksets (such as cipher locks) or lighting, and any demising improvements done by or on behalf of Tenant after the Commencement Date. If Tenant fails to remove any of Tenant’s Property, wiring, or cabling as required herein, the same shall be deemed abandoned and Landlord, at Tenant’s expense, may remove and dispose of same and repair and restore any damage caused thereby, or, at Landlord’s election, such Tenant’s Property, wiring, and cabling shall become Landlord’s property. Tenant shall not remove any Alteration (other than Specialty Alterations) from the Premises without the prior written consent of Landlord.

Appears in 1 contract

Samples: Lease (Safeguard Scientifics Inc)

Surrender; Holdover. 24.01 On the last day of the term of this lease, or upon any earlier termination of this lease, or upon any re-entry by Landlord upon the Demised Premises, Tenant shall vacate quit and surrender the Leased Demised Premises to Landlord at the expiration or sooner termination of the Lease Term in good order, condition and the same repair, except for ordinary wear and tear and Tenant shall be in the same condition as Tenant is required to maintain the same during the Lease Term, free of remove all of Tenant’s personal property 's Property therefrom except as may otherwise be expressly provided hereinin this lease and shall repair any damage to the Demised Premises resulting from such removal. (a) In the event this lease is not renewed or extended or a new lease is not entered into between the parties, “broom clean,” and otherwise in accordance with the provisions of the Lease. if Tenant shall have no right to holdover beyond then hold over after the expiration of the Lease Term. If term of this lease, and if Landlord shall then not proceed to remove Tenant continues from the Demised Premises in the manner permitted by law (or shall not have given written notice to occupy Tenant that Tenant must vacate the Leased Demised Premises) irrespective of whether or not Landlord accepts rent from Tenant for a period beyond the Expiration Date, the parties hereby agree that Tenant's occupancy of the Demised Premises after the end expiration of the Lease Term, such continued occupancy term shall be deemed under a tenancymonth-atto-sufferance even if Landlord accepts any payment from Tenantmonth tenancy commencing on the first day after the expiration of the term, but in the event that a court which tenancy shall be upon all 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 set forth in this lease except Tenant shall pay on the first day of each month of the holdover period as fixed rent, an amount equal to one hundred fifty percent the Applicable Percentage (150%as hereinafter defined) of the Base Rent applicable immediately preceding the end greater 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 one-twelfth the fixed rent payable by Landlord Tenant during the last year of the term of this lease (i.e., the year immediately prior to such occupancy or the holdover by Tenant; period) and (b) confer one twelfth of the annual fair market rental value of the Demised Premises on the date of such holdover. Further, Landlord shall not be required to perform any rights on Tenant as more than a tenant-at-sufferance orwork, furnish any materials or make any repairs within the Demised Premises during the holdover period. It is further stipulated and agreed that if Landlord accepts shall, at any rental payments applicable time after the expiration of the original term or after the expiration of any term created thereafter, proceed to such period of holding over, a tenant-at-will; or (c) relieve remove Tenant from liability for damages suffered by Landlord the Demised Premises as a result holdover, the fixed rent for the use and occupancy of the Demised Premises during any holdover period shall be calculated in the same manner as set forth above. In addition to the foregoing, Landlord shall be entitled to recover from Tenant any losses or damages arising from such holding over.holdover. For purposes of this Section 24.02(a), the term

Appears in 1 contract

Samples: Lease Agreement (Ivillage 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. (b) Prior to the Expiration Date or sooner termination of Tenant’s right to possession of the Premises, Tenant, at Tenant’s expense, shall remove from the Premises Tenant’s Property and all telephone, security, and communication equipment system wiring and cabling, and restore in a good and workmanlike 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 restored as aforesaid as reasonably determined by Landxxxx. Xxe foregoing notwithstanding, Tenant shall not be required to remove a Specialty Alteration if at the time Tenant requests Landlord’s consent to such Specialty Alteration, Tenant provides Landlord with written notification that Tenant desires to not be required to remove such Specialty Alteration and Landlord consents in writing to Tenant’s non-removal request. A “Specialty Alteration” means an Alteration that: (i) Landlord required to be removed in connection with Landlord’s consent to making such Alteration; or (ii) are not normal and customary leasehold improvements typically found in comparable office space at comparable class A office buildings in the market in which the Project is located, such as kitchens (other than a pantry installed for the use of Tenant’s employees only), executive restrooms, computer room installations, supplemental HVAC equipment and components, safes, vaults, libraries or file rooms requiring reinforcement of floors, internal staircases, slab penetrations, non-Building standard life safety systems, security systems, specialty door locksets (such as cipher locks) or lighting, and any demising improvements done by or on behalf of Tenant after the Commencement Date. If Tenant fails to remove any of Tenant’s Property, wiring, or cabling as required herein, the same shall be deemed abandoned and Landlord, at Tenant’s expense, may remove and dispose of same and repair and restore any damage caused thereby, or, at Landlord’s election, such Tenaxx’x Xroperty, wiring, and cabling shall become Landlord’s property. Tenant shall not remove any Alteration (other than Specialty Alterations) from the Premises without the prior written consent of Landlord.

Appears in 1 contract

Samples: Lease (Paratek Pharmaceuticals, Inc.)

Surrender; Holdover. 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.

Appears in 1 contract

Samples: Office Lease (BlackSky Technology Inc.)

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 Fixed Rent owed by Tenant to Landlord accepts will be the Holdover Percentage of the Fixed 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 (and Tenant shall remain liable for 100% of all Additional Rent). 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; provided, however, Tenant’s indemnification obligation under this sentence shall not include indirect or consequential damages unless and until Tenant holds over for 60 or more days. 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 (Pennsylvania Real Estate Investment Trust)

Surrender; Holdover. (a) Upon the expiration or earlier termination of this Lease, Tenant shall vacate peaceably leave 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 in which the same during Leased Premises was at the Lease Termcommencement of this Lease, free of all of Tenant’s personal property except as repaired, rebuilt, restored, altered, replaced or added to as permitted or required by any provision of this Lease, and except for ordinary wear and tear. Upon such surrender, Tenant shall (a) remove from the Leased Premises all property which is owned by Tenant or third parties other than Landlord and (b) repair any damage caused by such removal. Property not so removed shall become the property of Landlord, and Landlord may otherwise thereafter cause such property to be provided herein, “broom clean,” removed from the Leased Premises. The reasonable cost of removing and otherwise in accordance with the provisions disposing of such property and repairing any damage to any of the LeaseLeased Premises caused by such removal shall be paid by Tenant to Landlord upon demand. Landlord shall not in any manner or to any extent be obligated to reimburse Tenant for any such property which becomes the property of Landlord pursuant to this Paragraph 25. (b) If Tenant shall have no right be permitted to holdover beyond the expiration retain possession of the Lease Term. If Tenant continues to occupy the Leased Premises after the end termination of the Term of this Lease, then Tenant shall pay to Landlord the Basic Rent and all other amounts due under this Lease Term(including, without limitation, all Additional Rent due from time to time), computed on a per month basis, for each month or part thereof that Tenant remains in possession. Basic Rent so owing shall be paid at the following rates: (i) during the first six (6) months of any such continued occupancy holdover, at a monthly rate equal to 110% of the Basic Rent payable monthly during the last Lease Year before termination; and (ii) thereafter, during the remainder of any such holdover, at a monthly rate equal to 125% of the Basic Rent payable monthly during the last Lease Year before termination. Any holdover of this Lease shall be deemed a month-to-month 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 1 contract

Samples: Purchase and Sale Agreement (Rockwell Automation Inc)

Surrender; Holdover. 24.01 On the last day of the term of this lease, or upon any earlier termination of this lease, or upon any re-entry by Landlord upon the Demised Premises, Tenant shall vacate quit and surrender the Leased Demised Premises to Landlord at the expiration or sooner termination of the Lease Term in good order, condition and the same repair, except for ordinary wear and tear and Tenant shall be in the same condition as Tenant is required to maintain the same during the Lease Term, free of remove all of Tenant’s personal property 's Property therefrom except as otherwise expressly provided in this lease and shall restore the Demised Premises wherever such removal results in damage thereto. (a) In the event this lease is not renewed or extended or a new lease is not entered into between the parties, and if Tenant shall then hold over after the expiration of the term of this lease, and if Landlord shall then not proceed to remove Tenant from the Demised Premises in the manner permitted by law (or shall not have given written notice to Tenant that Tenant must vacate the Demised Premises) irrespective of whether or not Landlord accepts rent from Tenant for a period beyond the Expiration Date, the parties hereby agree that Tenant's occupancy of the Demised Premises after the expiration of the term shall be under a month-to-month tenancy commencing on the first day after the expiration of the term, which tenancy shall be upon all of the terms set forth in this lease except Tenant shall pay on the first day of each month of the holdover period as fixed rent, an amount equal to the higher of (i) to two times one-twelfth the fixed rent payable by Tenant during the last year of the term of this lease (i.e., the year immediately prior to the holdover period) or (ii) two (2) times an amount equal to the then monthly fair market rental value for the Demised Premises as shall be established by Landlord giving notice to Tenant of Landlord's good faith estimate of such fair market rental value. Tenant may otherwise dispute such fair market rental value for the Demised Premises as estimated by Landlord by giving notice to Landlord within but in no event after twenty (20) days after the giving of Landlord's notice to Tenant (as to the giving of which notice to Landlord, time shall be provided hereindeemed of the essence). Enclosed with such notice, “broom clean,” Tenant shall be required to furnish to Landlord a certified opinion of a reputable New York licensed real estate broker having leasing experience in the Borough of Manhattan for a period of not less than ten (10) years setting forth said broker's good faith opinion of the fair market rental value of the Demised Premises. If Tenant and otherwise Landlord are unable to resolve any such dispute as to the fair market rental value for the Demised Premises then an independent arbitrator who shall be a real estate broker of similar qualifications and shall be selected from a listing of not less than three (3) brokers furnished by The Real Estate Board of New York, Inc., to Tenant and Landlord (at the request of either Landlord or Tenant). If Landlord and Tenant are unable to agree upon the selection of the individual arbitrator from such listing, then the first arbitrator so listed by The Real Estate Board of New York, Inc. shall be conclusively presumed to have been selected by both Landlord and Tenant. The average of the determination of the independent arbitrator and the determination of the broker coming closest to the independent arbitrator shall be conclusive and binding upon the parties as to the fair market rental value of the Demised Premises. Pending the determination of the fair market rental value of the Demised Premises upon the expiration of the term of this lease, Tenant shall pay to Landlord as fixed rent an amount computed in accordance with clause (i) of this subsection 24.02(a), and upon determination of the fair market rental value of the Demised Premises in accordance with the preceding provisions of the Leasehereof appropriate adjustments and payments shall be effected. Tenant shall have no right to holdover beyond It is further stipulated and agreed that if Landlord shall, at any time after the expiration of the Lease Term. If Tenant continues to occupy the Leased Premises original term or after the end expiration of any term created thereafter, proceed to remove Tenant from the Demised Premises as a holdover, the fixed rent for the use and occupancy of the Lease Term, such continued occupancy Demised Premises during any holdover period shall be deemed a tenancy-at-sufferance even if Landlord accepts any payment from Tenant, but calculated in the event that a court of competent jurisdiction deems same manner as set forth above. In addition to the foregoing, Landlord shall be entitled to recover from Tenant any losses or damages arising from such acceptance of a payment holdover including, without limitation, if such holdover continues beyond sixty (60) days, any losses or damages suffered or incurred by Landlord with respect 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%) any subsequent tenant or occupant of the Base Rent applicable immediately preceding Demised Premises or any portion thereof pursuant to any written lease or other written agreement between such tenant or occupant and Landlord. (b) Notwithstanding anything to 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 contrary contained in this Section lease, the acceptance of any rent paid by Tenant pursuant to subsection 24.02(a) above shall not preclude Landlord from commencing and prosecuting a holdover or summary eviction proceeding, and the preceding sentence 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 tenantbe an "agreement expressly providing otherwise" within the meaning of Section 232-at-sufferance or, if Landlord accepts any rental payments applicable to such period c of holding over, a tenant-at-will; or the Real Property Law of the State of New York. (c) relieve All damages to Landlord by reason of holding over by Tenant from liability for damages suffered may be of the subject of a separate action and need not be asserted by Landlord as a result of such holding overin any summary proceedings against Tenant.

Appears in 1 contract

Samples: Lease (Atalanta Sosnoff Capital Corp /De/)

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. (b) Prior to the Surrender Date, Tenant, at Tenant’s expense, shall remove from the Premises Tenant’s Property and all telephone, security, and communication equipment system wiring and cabling, and restore in a good and workmanlike 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 restored as aforesaid as reasonably determined by Landlord. Notwithstanding the foregoing, Tenant shall not be required to remove a Specialty Alteration if at the time Tenant requests Landlord’s consent to such Specialty Alteration, Tenant provides Landlord with written notification that Tenant desires to not be required to remove such Specialty Alteration and Landlord consents in writing to Tenant’s non-removal request. A “Specialty Alteration” means an Alteration that: (i) Landlord required to be removed in connection with Landlord’s consent to making such Alteration; or (ii) is not Building standard, including without limitation kitchens (other than a pantry installed for the use of Tenant’s employees only), executive restrooms, computer room installations, supplemental HVAC equipment and components, safes, vaults, libraries or file rooms requiring reinforcement of floors, internal staircases, slab penetrations, non-Building standard life safety systems, security systems, specialty door locksets (such as cipher locks) or lighting, and any demising improvements done by or on behalf of Tenant after the Commencement Date. If Tenant fails to remove any of Tenant’s Property, wiring, or cabling as required herein, the same shall be deemed abandoned and Landlord, at Tenant’s expense, may remove and dispose of same and repair and restore any damage caused thereby, or, at Landlord’s election, such Tenant’s Property, wiring, and cabling shall become Landlord’s property. Tenant shall have the right, at Tenant’s option, prior to the Surrender Date and at Tenant’s expense, to remove any Alteration (including Specialty Alterations and Leasehold Improvements) from the Premises without the prior consent of Landlord, provided Tenant shall restore in a good and workmanlike manner any damage to the Premises and/or the Building caused by such removal.

Appears in 1 contract

Samples: Lease (Spark Therapeutics, 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: Contract for the Sale of Commercial Real Estate (Star Equity Holdings, Inc.)

Surrender; Holdover. 18.01. At the termination of this Lease, the Tenant shall vacate and will peaceably surrender the Leased Premises to Landlord at the expiration in good order, condition and repair, excepting reasonable wear and tear and excepting damage by fire 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 Termother casualty which has been insured against. 18.02. If the Tenant continues to occupy remains in possession of the Leased Premises after the end expiration of the term of this Lease Termand continues to pay rent without any express agreement as to holding over, such continued occupancy shall the Landlord's acceptance of rent will be deemed an acknowledgment of the Tenant's holding over upon a month-to-month tenancy-at-sufferance even if Landlord accepts any payment from Tenant, but in the event that a court subject, however, to all 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 of this Lease except as to one hundred fifty percent (150%) the term hereof and any option to renew the term. 18.03. If the Tenant remains in possession of the Base Rent applicable immediately preceding Leased Premises after the end expiration of the Lease Termterm of this Lease, plus all additional Rentwhether as a month-to-month tenant pursuant to Paragraph 18.02 or otherwise, until (i) Tenant shall vacate and the Leased Premises; (ii) Landlord at any time declines to accept the termination of rent at the tenancy-at-will; or (iii) Landlord shall give notice of a different rental amount. Nothing contained in this Section shall rate specified herein, the Tenant's holding over thereafter will 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 be as a result tenant at sufferance. The Tenant will nevertheless be subject to all of the terms and conditions of this Lease except as to the term hereof and any option to renew the term and except that the tenant will pay a monthly rent double the amount otherwise due hereunder and will pay all loss, cost or damage (including attorneys' fees) sustained by the Landlord on account of such holding over.

Appears in 1 contract

Samples: Lease Agreement (Cytation Com Inc)

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