Common use of Surrender of Possession; Holding Over Clause in Contracts

Surrender of Possession; Holding Over. (a) At the expiration or earlier termination of this Lease, Tenant shall remove shall remove all of Tenant’s wiring, equipment, trade fixtures, supplies, wall decorations, signage and other personal property from the Premises, the Building and the Common Area and shall vacate the Premises, and surrender to Landlord possession of the Premises and all improvements therein, broom clean and in as good order and condition as when possession was taken by Tenant, excepting only normal wear and tear and damage due to casualty not caused by Tenant or Tenant’s agents, employees or contractors. Except for such normal wear and tear and damage due to casualty not caused by Tenant or Tenant’s agents, employees or contractors, Tenant shall: (i) repair all damage to the Premises, the interior and exterior of the Building and the Common Area caused by Tenant’s removal of its property; (ii) patch and refinish, to Landlord’s reasonable satisfaction, all penetrations made by Tenant or any Tenant Parties to the roof, floor, interior or exterior walls or ceiling of the Premises and the Building, whether or not such penetrations were made with Landlord’s approval; (iii) repair or replace all stained or damaged ceiling tiles, wall coverings and floor coverings to the reasonable satisfaction of Landlord; and (iv) repair all damage caused by Tenant to the exterior surface of the Building and to the paved surfaces of the Common Area and, where necessary, replace or resurface same. Upon the expiration or earlier termination of this Lease, Landlord may reenter the Premises and remove all persons and property therefrom. If Tenant shall fail to surrender to Landlord the Premises, the Building and the Common Area in the condition required by this Section 17.09(a) at the expiration or earlier termination of this Lease, then Landlord, at Tenant’s expense, may remove Tenant’s signs, property and/or improvements not so removed and make such repairs and replacements not so made or hire, at Tenant’s expense, independent contractors to perform such work. Tenant shall be liable to Landlord for all costs incurred by Landlord in returning the Premises, the Building and the Common Area to the required condition, together with interest thereon at the Agreed Rate from the date incurred by Landlord until paid. Tenant shall pay to Landlord the amount of all costs so incurred (including, without limitation, costs of disposal, storage and insurance), together with interest at the Agreed Rate, within five (5) business days after receipt of an invoice therefor. (b) If Tenant remains in possession of the Premises after expiration of the Lease Term, and if Landlord and Tenant have not executed an express written agreement as to such holding over, then such occupancy shall be a tenancy from month-to-month on every applicable term, condition and agreement contained herein (including the payment of Additional Rent), except that monthly Base Rent shall be payable at a rate equivalent to one hundred fifty percent (150%) of the higher of (i) the monthly Base Rent in effect immediately prior to such expiration, or (ii) the fair market rental value of the Premises at such time, such payments to be made as herein provided for Base Rent.

Appears in 2 contracts

Samples: Triple Net Space Lease, Triple Net Space Lease (Imprivata Inc)

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Surrender of Possession; Holding Over. (a) At the expiration or earlier termination of this the Lease, Tenant shall remove Lessee shall remove all of TenantLessee’s wiringsigns (pursuant to Section 17.15) and, subject to the terms of the Removal Obligations Schedule and Section 6.03 of the Lease, shall remove all of Lessee’s equipment, trade fixtures, supplies, wall decorations, signage decoration and other personal property from within the Premises, the Building 9 and the Common Area and shall vacate the Premisesvacate, deliver up and surrender to Landlord Lessor possession of the Premises and all improvements thereinthereon, subject to the terms of Section 17.21 of this Lease concerning Hazardous Materials brought upon, kept, used, stored, handled, treated, generated in, or released or disposed of from the Premises by Lessee or any of Lessee’s agents, employees or contractors (collectively, “Lessee HazMat Operations”) and released of all clearances required by any governmental authorities with respect to Lessee HazMat Operations, broom clean and and, in as good order and condition as when possession was taken by Tenantcondition, excepting only normal ordinary wear and tear (wear and tear which could have been avoided by best maintenance practices customarily used at the Project) and damage due to casualty not caused by Lessee or Lessee’s agents, employees or contractors. Except for such ordinary wear and tear and damage due to casualty not caused by Tenant or TenantLessee’s agents, employees or contractors. Except for such normal wear and tear and damage due to casualty not caused by Tenant or Tenantcontractors (collectively, the “Lessee’s agentsParties”), employees or contractors, Tenant shall: Lessee shall (i) repair all damage to the Premises, the interior and exterior of the Building 9 and the Common Area caused by TenantLessee’s removal of its property; , (ii) patch and refinish, to LandlordLessor’s reasonable satisfaction, all penetrations made by Tenant Lessee or any Tenant Parties its agents, contactors, employees or invitees to the roof, floor, interior or exterior walls or ceiling of the Premises and the BuildingBuilding 9, whether or not such penetrations were made with LandlordLessor’s approval; approval or not, to the extent that the equipment requiring such penetration is removed at the expiration or earlier termination of the Lease, (iii) repair or replace all stained or damaged ceiling tiles, wall coverings and floor coverings (unless such staining or damage was caused by the actions of Lessor or the tenant of a leased space above the Premises) to the reasonable satisfaction of Landlord; and Lessor, (iv) repair all damage caused by Tenant Lessee to the exterior surface of the Building and to the paved surfaces of the Common Area 9 and, where necessary, replace or resurface same. Upon the expiration or earlier sooner termination of this Lease, Landlord Lessor may reenter the Premises and remove all persons and property therefrom. If Tenant Lessee shall fail to surrender to Landlord Lessor the Premises, the Building 9 and the Common Area in the condition required by this Section 17.09(a) paragraph at the expiration or earlier termination or, if sooner terminated, within ten (10) days after sooner termination, of this Lease, then LandlordLessor may, at TenantLessee’s expense, may remove TenantLessee’s signs, property and/or improvements not so removed and make such repairs and replacements not so made or hire, at TenantLessee’s expense, independent contractors to perform such work. Tenant Lessee shall be liable to Landlord Lessor for all reasonable costs incurred by Landlord Lessor in returning the Premises, the Building 9 and the Common Area to the required condition, together with interest thereon at the Agreed Rate from the date incurred by Landlord Lessor until paid. Tenant Lessee shall pay to Landlord Lessor the amount of all costs so incurred (including, without limitation, costs of disposal, storage and insurance), ) together with interest at the Agreed Rate, Rate within five (5) business days after receipt from Lessor’s delivery of an invoice a statement therefor. If the Premises are not surrendered at the end of the Lease Term, Lessee shall indemnify Lessor against loss or liability resulting from delay by Lessee in so surrendering the Premises, including, without limitation, actual damages for lost rent and with respect to any claims of a successor occupant. Notwithstanding anything to the contrary contained in this Section 17.09, and subject to the terms of the Removal Obligations Schedule, Lessee shall only be required to remove those Alterations as Lessor shall have designated at the time Lessor gave its consent to such Alterations to the extent required pursuant to the terms of Section 6.03 hereof, or when consent was not required, in response to Lessee’s written request for such determination. (b) If Tenant Lessee, with Lessor’s prior written consent, remains in possession of the Premises after expiration of the Lease Term, Term and if Landlord Lessor and Tenant Lessee have not executed an express written agreement as to such holding over, then such occupancy shall be a tenancy from month-to-month on every applicable term, condition and agreement contained herein (including the payment of Additional Rent), except that to month at a monthly Base Rent shall be payable at a rate equivalent to one hundred fifty percent (150%) of the higher of of: (i) the monthly Base Rent rental in effect immediately prior to such expiration, or (ii) the fair market rental value of Fair Market Rent for the Premises at such timePremises, such payments to be made as herein provided for Base Rent. In the event of such holding over, all of the terms of this Lease, including the payment of Additional Rent all charges owing hereunder other than rent shall remain in force and effect on said month to month basis. (c) At least three (3) months prior to the surrender of the Premises, Lessee shall deliver to Lessor a narrative description of the actions proposed (or required by any governmental authority) to be taken by Lessee in order to surrender the Premises (including any Alterations permitted by Lessor to remain in the Premises) at the expiration or earlier termination of the Lease Term, in accordance with the requirements of any Environmental Laws or relevant governmental authority or, in the absence thereof, the requirements of Lessor’s lender or any commercially reasonable requirements of Lessor’s environmental consultant (collectively “HazMat Requirements”) with respect to the Lessee HazMat Operations and otherwise released for unrestricted use and occupancy (the “Surrender Plan”). Such Surrender Plan shall be accompanied by a current listing of (i) all Hazardous Materials licenses and permits held by or on behalf of any Lessee’s Parties with respect to the Premises, and (ii) all Hazardous Materials used, stored, handled, treated, generated, released or disposed of from the Premises, and shall be subject to the review and approval of Lessor’s environmental consultant. In connection with the review and approval of the Surrender Plan, upon the request of Lessor, Lessee shall deliver to Lessor or its consultant such additional non-proprietary information concerning Lessee HazMat Operations as Lessor shall request. On or before such surrender, Lessee shall deliver to Lessor evidence that the approved Surrender Plan shall have been satisfactorily completed and all HazMat Requirements have been met and Lessor shall have the right, subject to reimbursement at Lessee’s expenses as set forth below, to cause Lessor’s environmental consultant to inspect the Premises and perform such additional procedures as may be deemed reasonably necessary to confirm that the Premises are, as of the effective date of such surrender or early termination of the Lease, in accordance with applicable HazMat Requirements. Lessee shall reimburse Lessor, as Additional Rent, for the actual, out-of-pocket expense incurred by Lessor for Lessor’s environmental consultant to review and approve the Surrender Plan and to visit the Premises and verify satisfactory completion of the same. Lessor shall have the unrestricted right to deliver such Surrender Plan and any report by Lessor’s environmental consultant with respect to the surrender of the Premises to third parties. If Lessee shall fail to prepare or submit a Surrender Plan approved by Lessor, or if Lessee shall fail to complete the approved Surrender Plan, or if such Surrender Plan, whether or not approved by Lessor, shall fail to adequately address any residual effect of Lessee HazMat Operations in, on or about the Premises in violation of HazMat Requirements, Lessor shall have the right to take such actions as Lessor may deem reasonable or appropriate to assure that the Premises and the Project are surrendered free from any residual impact from Lessee HazMat Operations, the cost of which actions shall be reimbursed by Lessee as Additional Rent.

Appears in 2 contracts

Samples: Triple Net Space Lease (PDL Biopharma, Inc.), Triple Net Space Lease (Biotech Spinco, Inc.)

Surrender of Possession; Holding Over. (a) At the expiration or earlier termination of this Lease, Tenant shall remove shall remove all of Tenant’s wiring, equipment, trade fixtures, supplies, wall decorations, signage and other personal property from the Premises, the Building and the Common Area Areas and shall vacate the Premises, and surrender to Landlord possession of the Premises and all improvements therein, broom clean and in as good order and condition as when possession was taken by Tenant, excepting only normal wear and tear and tear, damage due to casualty not caused by Tenant or Tenant’s agents, employees or contractors. Except for such normal wear and tear and tear, damage due to casualty not caused by Tenant or Tenant’s agents, employees or contractors, Tenant shall, at Tenant’s sole expense: (i) repair all damage to the Premises, the interior and exterior of the Building and the Common Area Areas caused by Tenant’s removal of its property; (ii) patch and refinish, to Landlord’s reasonable satisfaction, all penetrations made by Tenant or any Tenant Parties to the roof, floor, interior or exterior walls or ceiling of the Premises and the Building, whether or not such penetrations were made with Landlord’s approval; (iii) repair or replace all stained or damaged ceiling tiles, wall coverings and floor coverings to the reasonable satisfaction of Landlord; and (iv) repair all damage caused by Tenant to the exterior surface of the Building Building, (v) remove or cause to be removed from the Premises all debris and rubbish, such items of furniture, equipment, business and trade fixtures, free-standing cabinet work, movable partitions and other articles of personal property owned by Tenant or installed or placed by Tenant at its expense in the Premises, and such similar articles of any other persons claiming under Tenant, as Landlord may, in its sole discretion, require to be removed, and (vi) remove or cause to be removed from the paved surfaces of the Common Area and, where necessary, replace or resurface samePremises all debris and rubbish. Upon the expiration or earlier termination of this Lease, Landlord may reenter the Premises and remove all persons and property therefrom. If Tenant shall fail to surrender to Landlord the Premises, the Building and the Common Area Areas in the condition required by this Section 17.09(a) at the expiration or earlier termination of this Lease, then Landlord, at Tenant’s expense, may remove Tenant’s signs, property and/or improvements not so removed and make such repairs and replacements not so made or hire, at Tenant’s expense, independent contractors to perform such work. Tenant shall be liable to Landlord for all costs incurred by Landlord in returning the Premises, the Building and the Common Area Areas to the required condition, together with interest thereon at the Agreed Rate from the date incurred by Landlord until paid. Tenant shall pay to Landlord the amount of all costs so incurred (including, without limitation, costs of disposal, storage and insurance), together with interest at the Agreed Rate, within five thirty (530) business days after receipt of an invoice therefor. (b) If Tenant Tenant, without Landlord’s prior written consent, remains in possession of the Premises after the expiration of the Lease Term, and if Landlord and Tenant have not executed an express written agreement as to such holding over, then such occupancy shall be a tenancy from monthtenancy-toat-month sufferance on every applicable term, condition and agreement contained herein (including the payment of Additional Rent), except that monthly Base Rent shall be payable at a rate equivalent to one hundred fifty percent (150%) of the higher of (i) the monthly Base Rent in effect immediately prior to such expiration, or (ii) the fair market rental value of the Premises at such time, such payments to be made as herein provided for Base Rent. Nothing contained in this Section 17.09 shall be construed as consent by Landlord to any holding over by Tenant, and Landlord expressly reserves the right to require Tenant to surrender possession of the Premises to Landlord as provided in this Lease upon the expiration or other termination of this Lease. The provisions of this Section 17.09 shall not be deemed to limit or constitute a waiver of any other rights or remedies of Landlord provided herein or at law. If Tenant fails to surrender the Premises upon the termination or expiration of this Lease, in addition to any other liabilities to Landlord accruing therefrom, Tenant shall protect, defend, indemnify and hold Landlord harmless from all loss, costs (including reasonable attorneys’ fees) and liability resulting from such failure, including, without limiting the generality of the foregoing, any claims made by any succeeding tenant founded upon such failure to surrender and any lost profits to Landlord resulting therefrom. (c) No act or thing done by Landlord or any agent or employee of Landlord during the Lease Term shall be deemed to constitute an acceptance by Landlord of a surrender of the Premises unless such intent is specifically acknowledged in writing by Landlord. The delivery of keys to the Premises to Landlord or any agent or employee of Landlord shall not constitute a surrender of the Premises or effect a termination of this Lease, whether or not the keys are thereafter retained by Landlord, and notwithstanding such delivery Tenant shall be entitled to the return of such keys at any reasonable time upon request until this Lease shall have been properly terminated. The voluntary or other surrender of this Lease by Tenant, whether accepted by Landlord or not, or a mutual termination hereof, shall not work a merger, and at the option of Landlord shall operate as an assignment to Landlord of all subleases or subtenancies affecting the Premises or terminate any or all such sublessees or subtenancies.

Appears in 2 contracts

Samples: Triple Net Space Lease (Cloudera, Inc.), Triple Net Space Lease (Cloudera, Inc.)

Surrender of Possession; Holding Over. (a) At the expiration or earlier termination of this the Lease, Tenant shall remove Lessee shall remove all of TenantLessee’s wiringsigns (pursuant to Section 17.15) and, subject to the terms of the Removal Obligations Schedule and Section 6.03 of the Lease, shall remove all of Lessee’s equipment, trade fixtures, supplies, wall decorations, signage decoration and other personal property from within the Premises, the Building 10 and the Common Area and shall vacate the Premisesvacate, deliver up and surrender to Landlord Lessor possession of the Premises and all improvements thereinthereon, subject to the terms of Section 17.21 of this Lease concerning Hazardous Materials brought upon, kept, used, stored, handled, treated, generated in, or released or disposed of from the Premises by Lessee or any of Lessee’s agents, employees or contractors (collectively, “Lessee HazMat Operations”) and released of all clearances required by any governmental authorities with respect to Lessee HazMat Operations, broom clean and and, in as good order and condition as when possession was taken by Tenantcondition, excepting only normal ordinary wear and tear (wear and tear which could have been avoided by best maintenance practices customarily used at the Project) and damage due to casualty not caused by Lessee or Lessee’s agents, employees or contractors. Except for such ordinary wear and tear and damage due to casualty not caused by Tenant or TenantLessee’s agents, employees or contractors. Except for such normal wear and tear and damage due to casualty not caused by Tenant or Tenantcontractors (collectively, the “Lessee’s agentsParties”), employees or contractors, Tenant shall: Lessee shall (i) repair all damage to the Premises, the interior and exterior of the Building 10 and the Common Area caused by TenantLessee’s removal of its property; , (ii) patch and refinish, to LandlordLessor’s reasonable satisfaction, all penetrations made by Tenant Lessee or any Tenant Parties its agents, contactors, employees or invitees to the roof, floor, interior or exterior walls or ceiling of the Premises and the BuildingBuilding 10, whether or not such penetrations were made with LandlordLessor’s approval; approval or not, to the extent that the equipment requiring such penetration is removed at the expiration or earlier termination of the Lease, (iii) repair or replace all stained or damaged ceiling tiles, wall coverings and floor coverings (unless such staining or damage was caused by the actions of Lessor or the tenant of a leased space above the Premises) to the reasonable satisfaction of Landlord; and Lessor, (iv) repair all damage caused by Tenant Lessee to the exterior surface of the Building and to the paved surfaces of the Common Area 10 and, where necessary, replace or resurface same. Upon the expiration or earlier sooner termination of this Lease, Landlord Lessor may reenter the Premises and remove all persons and property therefrom. If Tenant Lessee shall fail to surrender to Landlord Lessor the Premises, the Building 10 and the Common Area in the condition required by this Section 17.09(a) paragraph at the expiration or earlier termination or, if sooner terminated, within ten (10) days after sooner termination, of this Lease, then LandlordLessor may, at TenantLessee’s expense, may remove TenantLessee’s signs, property and/or improvements not so removed and make such repairs and replacements not so made or hire, at TenantLessee’s expense, independent contractors to perform such work. Tenant Lessee shall be liable to Landlord Lessor for all reasonable costs incurred by Landlord Lessor in returning the Premises, the Building 10 and the Common Area to the required condition, together with interest thereon at the Agreed Rate from the date incurred by Landlord Lessor until paid. Tenant Lessee shall pay to Landlord Lessor the amount of all costs so incurred (including, without limitation, costs of disposal, storage and insurance), ) together with interest at the Agreed Rate, Rate within five (5) business days after receipt from Lessor’s delivery of an invoice a statement therefor. If the Premises are not surrendered at the end of the Lease Term, Lessee shall indemnify Lessor against loss or liability resulting from delay by Lessee in so surrendering the Premises, including, without limitation, actual damages for lost rent and with respect to any claims of a successor occupant. Notwithstanding anything to the contrary contained in this Section 17.09, and subject to the terms of the Removal Obligations Schedule, Lessee shall only be required to remove those Tenant Improvements and Alterations as Lessor shall have designated at the time Lessor gave its consent to such Tenant Improvements and/or Alterations to the extent required pursuant to the terms of Section 6.03 hereof, or when consent was not required, in response to Lessee’s written request for such determination. (b) If Tenant Lessee, with Lessor’s prior written consent, remains in possession of the Premises after expiration of the Lease Term, Term and if Landlord Lessor and Tenant Lessee have not executed an express written agreement as to such holding over, then such occupancy shall be a tenancy from month-to-month on every applicable term, condition and agreement contained herein (including the payment of Additional Rent), except that to month at a monthly Base Rent shall be payable at a rate equivalent to one hundred fifty percent (150%) of the higher of of: (i) the monthly Base Rent rental in effect immediately prior to such expiration, or (ii) the fair market rental value of Fair Market Rent for the Premises at such timePremises, such payments to be made as herein provided for Base Rent. In the event of such holding over, all of the terms of this Lease, including the payment of Additional Rent all charges owing hereunder other than rent shall remain in force and effect on said month to month basis. (c) At least three (3) months prior to the surrender of the Premises, Lessee shall deliver to Lessor a narrative description of the actions proposed (or required by any governmental authority) to be taken by Lessee in order to surrender the Premises (including any Alterations permitted by Lessor to remain in the Premises) at the expiration or earlier termination of the Lease Term, in accordance with the requirements of any Environmental Laws or relevant governmental authority or, in the absence thereof, the requirements of Lessor’s lender or any commercially reasonable requirements of Lessor’s environmental consultant (collectively “HazMat Requirements”) with respect to the Lessee HazMat Operations and otherwise released for unrestricted use and occupancy (the “Surrender Plan”). Such Surrender Plan shall be accompanied by a current listing of (i) all Hazardous Materials licenses and permits held by or on behalf of any Lessee’s Parties with respect to the Premises, and (ii) all Hazardous Materials used, stored, handled, treated, generated, released or disposed of from the Premises, and shall be subject to the review and approval of Lessor’s environmental consultant. In connection with the review and approval of the Surrender Plan, upon the request of Lessor, Lessee shall deliver to Lessor or its consultant such additional non-proprietary information concerning Lessee HazMat Operations as Lessor shall request. On or before such surrender, Lessee shall deliver to Lessor evidence that the approved Surrender Plan shall have been satisfactorily completed and all HazMat Requirements have been met and Lessor shall have the right, subject to reimbursement at Lessee’s expenses as set forth below, to cause Lessor’s environmental consultant to inspect the Premises and perform such additional procedures as may be deemed reasonably necessary to confirm that the Premises are, as of the effective date of such surrender or early termination of the Lease, in accordance with applicable HazMat Requirements. Lessee shall reimburse Lessor, as Additional Rent, for the actual, out-of-pocket expense incurred by Lessor for Lessor’s environmental consultant to review and approve the Surrender Plan and to visit the Premises and verify satisfactory completion of the same. Lessor shall have the unrestricted right to deliver such Surrender Plan and any report by Lessor’s environmental consultant with respect to the surrender of the Premises to third parties. If Lessee shall fail to prepare or submit a Surrender Plan approved by Lessor, or if Lessee shall fail to complete the approved Surrender Plan, or if such Surrender Plan, whether or not approved by Lessor, shall fail to adequately address any residual effect of Lessee HazMat Operations in, on or about the Premises in violation of HazMat Requirements, Lessor shall have the right to take such actions as Lessor may deem reasonable or appropriate to assure that the Premises and the Project are surrendered free from any residual impact from Lessee HazMat Operations, the cost of which actions shall be reimbursed by Lessee as Additional Rent.

Appears in 2 contracts

Samples: Triple Net Space Lease (Biotech Spinco, Inc.), Triple Net Space Lease (PDL Biopharma, Inc.)

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Surrender of Possession; Holding Over. (a) At the expiration or earlier termination of this the Lease, Tenant shall remove Lessee shall remove all of TenantLessee’s wiringsigns (pursuant to Section 17.15) and, subject to the terms of the Removable Alterations Schedule and Section 6.03 of the Lease, shall remove all of Lessee’s equipment, trade fixtures, supplies, wall decorations, signage decoration and other personal property from within the Premises, the Building 8 and the Common Area and shall vacate the Premisesvacate, deliver up and surrender to Landlord Lessor possession of the Premises and all improvements thereinthereon, subject to the terms of Section 17.21 of this Lease concerning Hazardous Materials brought upon, kept, used, stored, handled, treated, generated in, or released or disposed of from the Premises by Lessee or any of Lessee’s agents, employees or contractors (collectively, “Lessee HazMat Operations”) and released of all clearances required by any governmental authorities with respect to Lessee HazMat Operations, broom clean and and, in as good order and condition as when possession was taken by Tenantcondition, excepting only normal ordinary wear and tear (wear and tear which could have been avoided by best maintenance practices customarily used at the Project) and damage due to casualty not caused by Lessee or Lessee’s agents, employees or contractors. Except for such ordinary wear and tear and damage due to casualty not caused by Tenant or TenantLessee’s agents, employees or contractors. Except for such normal wear and tear and damage due to casualty not caused by Tenant or Tenantcontractors (collectively, the “Lessee’s agentsParties”), employees or contractors, Tenant shall: Lessee shall (i) repair all damage to the Premises, the interior and exterior of the Building 8 and the Common Area caused by TenantLessee’s removal of its property; , (ii) patch and refinish, to LandlordLessor’s reasonable satisfaction, all penetrations made by Tenant Lessee or any Tenant Parties its agents, contactors, employees or invitees to the roof, floor, interior or exterior walls or ceiling of the Premises and the BuildingBuilding 8, whether or not such penetrations were made with LandlordLessor’s approval; approval or not, to the extent that the equipment requiring such penetration is removed at the expiration or earlier termination of the Lease, (iii) repair or replace all stained or damaged ceiling tiles, wall coverings and floor coverings (unless such staining or damage was caused by the actions of Lessor or the tenant of a leased space above the Premises) to the reasonable satisfaction of Landlord; and Lessor, (iv) repair all damage caused by Tenant Lessee to the exterior surface of the Building and to the paved surfaces of the Common Area 8 and, where necessary, replace or resurface same. Upon the expiration or earlier sooner termination of this Lease, Landlord Lessor may reenter the Premises and remove all persons and property therefrom. If Tenant Lessee shall fail to surrender to Landlord Lessor the Premises, the Building 8 and the Common Area in the condition required by this Section 17.09(a) paragraph at the expiration or earlier termination or, if sooner terminated, within ten (10) days after sooner termination, of this Lease, then LandlordLessor may, at TenantLessee’s expense, may remove TenantLessee’s signs, property and/or improvements not so removed and make such repairs and replacements not so made or hire, at TenantLessee’s expense, independent contractors to perform such work. Tenant Lessee shall be liable to Landlord Lessor for all reasonable costs incurred by Landlord Lessor in returning the Premises, the Building 8 and the Common Area to the required condition, together with interest thereon at the Agreed Rate from the date incurred by Landlord Lessor until paid. Tenant Lessee shall pay to Landlord Lessor the amount of all costs so incurred (including, without limitation, costs of disposal, storage and insurance), ) together with interest at the Agreed Rate, Rate within five (5) business days after receipt from Lessor’s delivery of an invoice a statement therefor. If the Premises are not surrendered at the end of the Lease Term, Lessee shall indemnify Lessor against loss or liability resulting from delay by Lessee in so surrendering the Premises, including, without limitation, actual damages for lost rent and with respect to any claims of a successor occupant. (b) If Tenant Lessee, with Lessor’s prior written consent, remains in possession of the Premises after expiration of the Lease Term, Term and if Landlord Lessor and Tenant Lessee have not executed an express written agreement as to such holding over, then such occupancy shall be a tenancy from month-to-month on every applicable term, condition and agreement contained herein (including the payment of Additional Rent), except that to month at a monthly Base Rent shall be payable at a rate equivalent to one hundred fifty percent (150%) of the higher of of: (i) the monthly Base Rent rental in effect immediately prior to such expiration, or (ii) the fair market rental value of Fair Market Rent for the Premises at such timePremises, such payments to be made as herein provided for Base Rent. In the event of such holding over, all of the terms of this Lease, including the payment of Additional Rent all charges owing hereunder other than rent shall remain in force and effect on said month to month basis. (c) Lessee shall comply with all building closure and decommission requirements of Title 10, Code of Federal Regulations Section 3035 and the San Mateo County Closure Guidelines Section 3035 and the San Mateo County Closure Guidelines for Hazardous Materials Storage Facilities form UN-032 (collectively, the “Closure Requirements”). Lessee shall provide Lessor with: (i) at least thirty (30) days’ advance notice of Lessee’s intention to complete the process of closure pursuant to the Closure Requirements, (ii) copies of any correspondence with San Mateo County regarding such Closure Requirements, and (iii) a copy of any closure plan prepared pursuant to such Closure Requirements prior to its submittal to the appropriate governmental body. Lessor shall have the right to comment and request revisions to any such closure plan and speak directly with representatives of any such governmental bodies to discuss the terms and conditions of any such Closure Requirements.

Appears in 1 contract

Samples: Triple Net Space Lease (Threshold Pharmaceuticals Inc)

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