Common use of Surrender of Subleased Premises Clause in Contracts

Surrender of Subleased Premises. Upon the expiration or earlier termination of the Term of this Sublease, Subtenant will quit and surrender possession of the Subleased Premises to Sublandlord in the condition required by Section 16.4(B) of the Original Lease; however, in no event shall Subtenant be obligated to remove any Furniture (as defined below) or restore any alterations or improvements currently existing in the Subleased Premises as of the Commencement Date. To the extent Subtenant’s property remains in the Subleased Premises after the expiration of the Term such property is deemed abandoned and Sublandlord has the right to remove and store the same at Subtenant’s cost, or to use assert control and ownership over the same. At least sixty (60), but not more than ninety (90), days prior to the Expiration Date, Subtenant shall submit a written notice to Sublandlord and Landlord (the “Surrender Condition Notice”) to schedule a joint inspection with Sublandlord and Landlord to inspect the Subleased Premises to identify the scope of work that Subtenant must complete, at Subtenant’s expense, to satisfy its surrender obligations under this section. If Subtenant either or both fails to deliver the Surrender Condition Notice to, or jointly inspect the Subleased Premises with, Sublandlord and Landlord, then Sublandlord’s and/or Landlord’s determination of the required work shall be dispositive.

Appears in 2 contracts

Samples: Sublease Agreement (Decibel Therapeutics, Inc.), Sublease Agreement (Decibel Therapeutics, Inc.)

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Surrender of Subleased Premises. Upon Subtenant shall at the expiration or earlier other termination of this Sublease remove all Subtenant’s property from the Term Subleased Premises (including, without hereby limiting the generality of this Subleasethe foregoing, Subtenant will quit all signs and surrender possession of lettering affixed by Subtenant, either inside or outside the Subleased Premises) and deliver to Landlord all keys and locks security passes to the Subleased Premises, and deliver the Subleased Premises to Sublandlord Landlord in the condition required by Section 16.4(B) the Xxxxxxxxx upon the expiration or termination of the Original Lease; however, in term thereof (except that Subtenant shall have no event shall Subtenant be obligated obligation to remove any Furniture (as defined below) improvements or restore any alterations or improvements currently existing in the Subleased Premises as of the Commencement Date), and decommissioned in accordance with all applicable federal, state and local laws and regulations. To In the extent event of Subtenant’s failure to remove any of Subtenant’s property remains in from the Subleased Premises after Premises, Landlord and Overlandlord are hereby authorized, without liability to Subtenant for loss or damage thereto, and at the expiration sole risk of the Term such property is deemed abandoned and Sublandlord has the right Subtenant, to remove and store any of the same at Subtenant’s cost, or to use assert control and ownership over the same. At least sixty (60), but not more than ninety (90), days prior to the Expiration Date, Subtenant shall submit a written notice to Sublandlord and Landlord (the “Surrender Condition Notice”) to schedule a joint inspection with Sublandlord and Landlord to inspect the Subleased Premises to identify the scope of work that Subtenant must complete, property at Subtenant’s expense, or to satisfy its surrender obligations retain same under this section. If Subtenant either Landlord’s or both fails Overlandlord’s control or to deliver sell at public or private sale, without notice any or all of the Surrender Condition Notice toproperty not so removed and to apply the net proceeds of such sale to the payment of any sum due hereunder, or jointly inspect to destroy such property. Without limiting the provisions of Section 22(c) of the Xxxxxxxxx as incorporated herein, Subtenant shall indemnify and hold Landlord harmless from and against all damages, costs and expenses suffered or incurred by Landlord on account of Subtenant’s holding over in the Subleased Premises with, Sublandlord and Landlord, then Sublandlord’s and/or Landlord’s determination of the required work shall be dispositivePremises.

Appears in 1 contract

Samples: Sublease (Panacos Pharmaceuticals, Inc.)

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Surrender of Subleased Premises. Upon the expiration Termination Date or upon earlier termination of the Term of this SubleaseSublease as provided herein, Subtenant will quit and Sublessee shall surrender possession of the Subleased Premises to Sublandlord in the condition required in the Master Lease, except that Sublessor shall be responsible for any alterations made by Section 16.4(Bor for Sublessor prior to the Sublease Commencement Date (except in the event that Sublessee (i) exercises any right it might have to extend the term of the Original Lease; however, in Master Lease or (ii) enters into a direct lease with the Master Lessor). Sublessor represents that it is aware of no event shall Subtenant be obligated alterations to remove any Furniture (as defined below) or restore any alterations or improvements currently existing in the Subleased Premises as of the Commencement Datedate of this Sublease which Sublessor is required under Section 11.1 of the Master Lease to re-adapt at the expiration or termination of the Lease Term. To Without limiting the extent Subtenant’s property remains in the Subleased Premises after foregoing, prior to the expiration of the Term Sublease Term, Sublessee shall, at its sole cost and expense, (a) remove the alterations relating to the Work (as such property term is deemed abandoned and Sublandlord has defined in the right to remove and store the same at Subtenant’s cost, or to use assert control and ownership over the same. At least sixty Consent of Master Lessor (60as defned below), but not more than ninety (90)b) remove Sublessee's trade fixtures, days prior to furniture, equipment, signage, cabling installed by Sublessee and other personal property from the Expiration DateSubleased Premises, Subtenant and (c) repair any damage resulting from such removal. Sublessee's removal shall submit a written notice to Sublandlord be completed in compliance with all applicable Laws, and Landlord (the “Surrender Condition Notice”) to schedule a joint inspection with Sublandlord and Landlord to inspect Sublessee shall surrender the Subleased Premises to identify the scope of work that Subtenant must complete, at Subtenant’s expense, to satisfy its surrender obligations under this section. If Subtenant either or both fails to deliver the Surrender Condition Notice to, or jointly inspect the Subleased Premises with, Sublandlord and Landlord, then Sublandlord’s and/or Landlord’s determination of the required work shall be dispositivein broom clean condition.

Appears in 1 contract

Samples: Sublease Agreement (Sonus Networks Inc)

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