Surrender Obligation Clause Samples
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Surrender Obligation. On or prior to the applicable Recapture Date with respect to the corresponding applicable Recapture Portion, Tenant shall vacate, quit and surrender to Landlord possession of the applicable Recapture Portion, vacant, broom-clean, free of all tenancies, subtenancies and occupancies, and free of any liens or encumbrances filed against the Recapture Portion or the applicable Building for work or materials claimed to have been furnished to, or through, Tenant (or its subtenants, licensees, contracts, suppliers and subcontractors) (but not Landlord), with all personal property and signage removed, except that Tenant may surrender the Recapture Portion with any furniture, in each case, owned by Tenant (and not financed or leased through a third-party) in the applicable Recapture Portion, in each case, to the extent existing in the applicable Recapture Portion as of the Effective Date, (such furniture, the “Abandoned Recapture Premises Property”), and otherwise in the condition required by the Lease with respect to surrender of the Premises, as pertaining to the applicable Recapture Portion; provided, however, Landlord agrees that Tenant has no obligation to remove any leasehold improvements owned by Tenant or other alterations performed by or for Tenant in or to the applicable Recapture Portion, in each case, existing as of the Effective Date (collectively, all of the foregoing requirements in this clause (1) shall be known as the “Recapture Portion Conditions”). Tenant hereby gives, grants, conveys and surrenders to Landlord all of ▇▇▇▇▇▇’s right, title and interest in and to the Abandoned Recapture Premises Property in the applicable Recapture Portion effective as of the Recapture Date without compensation to Tenant. Tenant and Landlord agree that the value of the Abandoned Recapture Premises Property shall be zero dollars ($0). If requested by Landlord, Tenant shall promptly execute and deliver to Landlord a bill of sale conveying such Abandoned Property to Landlord.
Surrender Obligation. At the expiration or earlier termination or cancellation of this Lease, Tenant shall surrender the Property to Landlord in as good condition as at the time of delivery, subject to reasonable wear and tear.
Surrender Obligation. Tenant further acknowledges that its obligations hereunder to vacate and surrender the entire Property when and as required pursuant to the terms of this Lease, including without limitation its obligations to remediate and clean-up the Property under Section 3.04(c), shall extend to the Henkel Premises. In furtherance of the foregoing, Tenant shall use commercially reasonable efforts to pursue all legal actions as may be necessary against the Henkel Tenant (including, summary process proceedings) in order for Tenant to comply with Tenant's obligation to vacate and surrender the entire property (including the Henkel Premises) when and as required hereunder. In furtherance thereof, the parties acknowledge that concurrently with the execution and delivery of this Lease (and in accordance with Section of the Purchase and Sale Agreement), Tenant has delivered to Henkel Tenant an effective notice of termination in accordance with Section 2 of the Henkel Lease pursuant to which the Henkel Lease will terminate by no later than the expiration of the Initial Term.
Surrender Obligation