Common use of Surrender; Holdover Clause in Contracts

Surrender; Holdover. Subtenant shall, on or before the Sublease Termination Date, promptly quit and surrender the Sublet Premises free of all furniture, fixtures and equipment and other personal property and in the same condition the Sublet Premises were in on the Sublease Commencement Date and in conformity with the applicable provisions of this Sublease and the Lease, excepting only reasonable wear and tear and/or damage by fire or other casualty and any other matter that is not the responsibility of Subtenant under this Sublease, timely surrender of the Sublet Premises being of the essence hereof. Subtenant understands and acknowledges Sublandlord’s stated need to regain possession of the Sublet Premises by the Sublease Termination Date and therefore Subtenant understands that it shall have no right to holdover in all or any part of the Sublet Premises. If Subtenant shall fail to deliver possession of the Sublet Premises as herein provided, such occupancy shall not be construed to effect or constitute other than a daily tenancy at sufferance. Subtenant shall pay to Sublandlord for use and occupancy of the Sublet Premises after the Sublease Termination Date the amount equal to two hundred percent (200%) of the Annual Rent and regularly occurring additional rent payable during the Sublease term at the rates in effect under the Sublease as of the Sublease Termination Date, and which shall be calculated on a per diem basis, on account of any and all days of holdover occupancy. The amount of the charge for use and occupancy is acknowledged to be the appropriate level of compensation to Sublandlord as reimbursement for inconvenience to its business and anticipated expenses arising from Subtenant’s failure to vacate and surrender the Sublet Premises in a timely manner, and shall not be deemed a penalty. The acceptance of payment on account of use and occupancy by Sublandlord or the failure or delay of Sublandlord in notifying or evicting Subtenant following the Sublease Termination Date shall not create any tenancy rights in Subtenant and any such payments by Subtenant may be applied by Sublandlord against its costs and expenses, including reasonable attorney’s fees incurred by Sublandlord as a result of such holdover. In addition, Subtenant shall save Sublandlord, harmless and will exonerate, defend and indemnify Sublandlord from and against any and all actual damages which Sublandlord may suffer on account of Subtenant’s hold-over in the Sublet Premises.

Surrender; Holdover. Subtenant shallA. At the end of the Term, on or before the Sublease Termination Date, promptly quit Tenant shall peaceably leave and surrender the Sublet Premises free of all furnitureto Landlord in good condition and repair, fixtures and equipment and other personal property and in the same condition the Sublet Premises were in on the Sublease Commencement Date and in conformity with the applicable provisions of this Sublease and the Leasereasonable use, excepting only reasonable ordinary wear and tear and/or tear, and damage by fire or other casualty, condemnation, or appropriation excepted (Tenant’s obligation for repair, reconstruction or restoration following a casualty being governed by Section 7.5 above). Tenant shall, at its expense, remove from the Premises at the end of the Term all of Tenant’s property (and repair any damage caused by such removal), except that Tenant shall not remove at the end of the Term any permanently attached equipment, conduits or fixtures providing water, plumbing, electrical, heating, ventilation, air conditioning, lighting and/or sewer service to the Premises, whether or not the same were furnished or installed by Tenant. Such surrender shall be made without any payment by Landlord to Tenant. Tenant shall surrender all keys for the Premises to Landlord at the place then fixed for the payment of Rent. B. If Tenant or any person claiming under Tenant holds over in possession after the end of the Term, the tenancy under this Lease shall become a month-to-month tenancy, terminable by either party on 30 days’ notice, and shall be subject to all of the terms and conditions of this Lease, except that Base Rent for each month during the holdover period shall be 125% of the monthly Base Rent installment payable for the last full month of the Term. C. Any and all alterations, additions, improvements, and fixtures installed by Tenant which are so attached to the floors, walls or ceilings that removal would either irreparably damage such items or the materials to which they are attached (including any linoleum or other floor covering of similar character which may be cemented or otherwise adhesively affixed to the floor, and any electrical, plumbing, heating, ventilating or air-conditioning systems and equipment) shall remain upon the Premises after the end of the Term and shall be surrendered with the Premises as a part thereof without disturbance, molestation or injury, and title thereto shall thereupon automatically vest in Landlord absolutely free of any leasehold and any liens permitted or suffered by Tenant. However, the usual trade fixtures, equipment and furniture which may be installed in the Premises at the cost of Tenant (and any other matter that is not personal property) (collectively “Tenant’s Property”) shall be removed by Tenant from the responsibility of Subtenant under this Sublease, timely surrender Premises prior to the end of the Sublet Premises being of the essence hereofTerm. Subtenant understands Tenant shall, at its own cost and acknowledges Sublandlord’s stated need to regain possession of the Sublet Premises by the Sublease Termination Date and therefore Subtenant understands that it shall have no right to holdover in all or any part of the Sublet Premises. If Subtenant shall fail to deliver possession of the Sublet Premises as herein providedexpense, such occupancy shall not be construed to effect or constitute other than a daily tenancy at sufferance. Subtenant shall pay to Sublandlord for use and occupancy of the Sublet Premises after the Sublease Termination Date the amount equal to two hundred percent (200%) of the Annual Rent and regularly occurring additional rent payable during the Sublease term at the rates in effect under the Sublease as of the Sublease Termination Date, and which shall be calculated on a per diem basis, on account of repair any and all days of holdover occupancydamage to the Premises resulting from or caused by such removal. The amount Tenant shall not remove at or near the end of the charge for use Term any building components, including the HVAC system, plumbing system, electrical system (including light fixtures) and occupancy is acknowledged to be security gate(s) (if any). All of Tenant’s right, title and interest in the appropriate level of compensation to Sublandlord as reimbursement for inconvenience to its business and anticipated expenses arising from Subtenant’s failure to vacate and surrender the Sublet Premises in a timely mannerPremises, including all additions, improvements, and all fixtures and leasehold improvements installed upon the Premises, shall cease and terminate. All Tenant’s Property which has not been removed by Tenant within ten (10) days after Tenant vacates the Premises at the end of the Term shall be deemed abandoned by Tenant and become Landlord’s exclusive property or may be disposed of by Landlord, at Landlord’s option (and, in the case of trade fixtures, furniture and any other personal property, at Tenant’s cost and expense), without further notice or demand to Tenant and without any requirement to account for the same to or any other liability to or recourse by Tenant or anyone claiming by, through or under Tenant. No further deed, bill of sale, or other instrument shall be required to confirm such transfer to and vesting in Landlord of title to the Premises and all of such property. Medinah Temple Lease 30 D. Notwithstanding any provision of this Lease to the contrary, upon termination of this Lease, whether by expiration of its term or for any other reason, title to the Building shall automatically transfer to, and vest in Landlord, without any further action of the parties. This remainder interest of Landlord in and to the Building shall be absolute and may not be deemed a penalty. The acceptance defeased by any action of payment on account the parties or any one claiming by, through or under any of use and occupancy by Sublandlord or the failure or delay of Sublandlord in notifying or evicting Subtenant following the Sublease Termination Date shall not create any tenancy rights in Subtenant and any such payments by Subtenant may be applied by Sublandlord against its costs and expenses, including reasonable attorney’s fees incurred by Sublandlord as a result of such holdover. In addition, Subtenant shall save Sublandlord, harmless and will exonerate, defend and indemnify Sublandlord from and against any and all actual damages which Sublandlord may suffer on account of Subtenant’s hold-over in the Sublet Premisesparties.

Surrender; Holdover. Subtenant shall, on On expiration or before the Sublease Termination Date, promptly quit early termination of this Lease Tenant shall deliver all keys to Landlord and surrender the Sublet Premises vacuumed, swept, and free of all furniture, fixtures and equipment and other personal property debris and in the same condition as at the Sublet commencement of the term subject only to reasonable wear from ordinary use. Tenant shall remove all of its furnishings and trade fixtures that remain its property and any alterations, cables or conduits if required by paragraph 6.2.1 and shall repair all damage resulting from such removal. Failure to remove shall be an abandonment of the property, and Landlord may remove or dispose of it in any manner without liability, and recover the cost of removal and other damages from Tenant. If Tenant fails to vacate the Premises were in on when required, including failure to remove all its personal property, Landlord may elect either: (i) to treat Tenant as a tenant from month to month, subject to the Sublease Commencement Date and in conformity with the applicable provisions of this Sublease Lease except that rent shall be 125% of the total rent being charged when the Lease term expired, and any option or other rights regarding extension of the term or expansion of the Premises shall no longer apply; or (ii) to eject Tenant from the Premises (using self-help or otherwise) and recover damages caused by Xxxxxx continuing to occupy the Premises after the Lease term has expired without the permission of the Landlord. In the absence of a lease extension or agreement otherwise, no less than one hundred (100) days prior to the expiration of the Lease, excepting only reasonable wear Tenant shall provide Landlord written notice advising the Landlord that the Tenant will not be extending the Lease and tear and/or damage by fire in said notice, Tenant shall request notice from the Landlord whether the Landlord will require the Tenant to vacate on or other casualty and any other matter that is not before the responsibility of Subtenant under this Sublease, timely surrender Lease expiration date or if the Landlord will approve of the Sublet Premises being of Tenant remaining in the essence hereof. Subtenant understands and acknowledges Sublandlord’s stated need to regain possession of the Sublet Premises by the Sublease Termination Date and therefore Subtenant understands that it shall have no right to holdover in all or any part of the Sublet Premises. If Subtenant shall fail to deliver possession of the Sublet Premises as herein provided, such occupancy shall not be construed to effect or constitute other than a daily tenancy at sufferance. Subtenant shall pay to Sublandlord for use and occupancy of the Sublet Premises after the Sublease Termination Date the amount equal expiration date as a month to two hundred percent month Tenant. Landlord shall respond and answer this notice from Tenant within ten (200%10) of the Annual Rent and regularly occurring additional rent payable during the Sublease term at the rates in effect under the Sublease as of the Sublease Termination Date, and which shall be calculated on a per diem basis, on account of any and all days of holdover occupancy. The amount of the charge for use and occupancy is acknowledged to be the appropriate level of compensation to Sublandlord as reimbursement for inconvenience to its business and anticipated expenses arising from Subtenant’s failure to vacate and surrender the Sublet Premises in a timely manner, and shall not be deemed a penalty. The acceptance of payment on account of use and occupancy by Sublandlord or the failure or delay of Sublandlord in notifying or evicting Subtenant following the Sublease Termination Date shall not create any tenancy rights in Subtenant and any such payments by Subtenant may be applied by Sublandlord against its costs and expenses, including reasonable attorney’s fees incurred by Sublandlord as a result of such holdover. In addition, Subtenant shall save Sublandlord, harmless and will exonerate, defend and indemnify Sublandlord from and against any and all actual damages which Sublandlord may suffer on account of Subtenant’s hold-over in the Sublet Premisesreceipt.

Surrender; Holdover. Subtenant shallOn expiration or early termination of this Lease (“surrender”), on or before the Sublease Termination Date, promptly quit Tenant shall deliver all keys to Landlord and surrender the Sublet Premises Property free of all furnituredebris and the interior hallways and rooms of the Building vacuumed and/or swept. With respect to any damage to the Property that is the repair responsibility of Tenant under this Lease and that occurs during the last three months prior to expiration or early termination of this Lease or results from removal of any Tenant Alterations, fixtures Tenant’s repair responsibility shall, notwithstanding any other provision of this Lease, be limited to patching such damage (i.e., patching holes and equipment cracks) and other Tenant shall not be required to do any finish work as part of such repairs. Upon surrender ,Tenant shall not be required to return the Property to “good condition,” and shall not be required to mend any carpet tears or replace any carpet, provided that Tenant shall replace any broken glass. Tenant may, in its sole discretion but subject to any right of Landlord under this lease to demand removal of property by Xxxxxx, remove or leave any personal property and in the same condition the Sublet Premises were in located on the Sublease Commencement Date and in conformity with Property as of the applicable provisions date of this Sublease and expiration or early termination of the Lease, excepting only reasonable provided that Tenant shall remove any unattached personal property that is not normally used in the hotel industry unless the Parties mutually agree in writing to leave the same at the Property; Tenant shall have fifteen (15) days after expiration or early termination of this Lease within which to complete any removal of property authorized or required under this Lease. The Parties acknowledge that in lieu of any obligation on Tenant’s part to surrender the Property in good condition less wear and tear and/or damage by fire (including in lieu of any obligation on Tenant’s part to do any finish work during or other casualty after the last three months prior to expiration or early termination of this Lease), and in lieu of any other matter that is not the responsibility of Subtenant under this Sublease, timely obligation on Tenant’s part to surrender of the Sublet Premises being of the essence hereof. Subtenant understands and acknowledges Sublandlord’s stated need to regain possession of the Sublet Premises by the Sublease Termination Date and therefore Subtenant understands that it shall have no right to holdover in all or any part of the Sublet PremisesProperty “furnished” for hotel use or otherwise, and in lieu of any obligation on Tenant’s part to restore all or any part of the Property to any pre-Lease, Commencement Date, or other condition or to reconfigure the Property back to any pre-Lease, Commencement Date, or other reconfiguration, Tenant shall, on expiration or early termination of this Lease, pay to Landlord a restoration fee in the amount of $156,000.00 (“Restoration Fee”) to be applied: (a) towards any finish work needed to return the Property to good condition, (b) towards the re-furnishing of the Property, (c) towards the removal of any property left by Tenant in accordance with this Lease, or (d) in any other manner determined by Landlord in its sole discretion; provided that, if Tenant exercises Tenant’s Termination Right, the Restoration Fee shall be reduced to $100,000. If Subtenant Tenant fails to vacate the Property when and in the manner required Landlord may elect either: (i) to treat Tenant as a tenant from month-to-month, subject to the provisions of this Lease, provided that Base Rent for the month-to-month tenancy shall fail be the Base Rent for the month prior to deliver possession commencement of the Sublet Premises as herein providedmonth-to-month tenancy increased by five percent (5%), such occupancy shall not be construed to effect and provided that any option or constitute other than a daily tenancy at sufferance. Subtenant shall pay to Sublandlord for use and occupancy rights regarding extension of the Sublet Premises after Term shall no longer apply; or (ii) to eject Tenant from the Sublease Termination Date the amount equal to two hundred percent Property (200%using self-help or otherwise) of the Annual Rent and regularly occurring additional rent payable during the Sublease term at the rates in effect under the Sublease as of the Sublease Termination Date, and which shall be calculated on a per diem basis, on account of any and all days of holdover occupancyrecover damages caused by wrongful holdover. The amount terms of the charge for use and occupancy is acknowledged to be the appropriate level this Section shall survive any expiration or early termination of compensation to Sublandlord as reimbursement for inconvenience to its business and anticipated expenses arising from Subtenant’s failure to vacate and surrender the Sublet Premises in a timely manner, and shall not be deemed a penalty. The acceptance of payment on account of use and occupancy by Sublandlord or the failure or delay of Sublandlord in notifying or evicting Subtenant following the Sublease Termination Date shall not create any tenancy rights in Subtenant and any such payments by Subtenant may be applied by Sublandlord against its costs and expenses, including reasonable attorney’s fees incurred by Sublandlord as a result of such holdover. In addition, Subtenant shall save Sublandlord, harmless and will exonerate, defend and indemnify Sublandlord from and against any and all actual damages which Sublandlord may suffer on account of Subtenant’s hold-over in the Sublet Premisesthis Lease.