Common use of Surrender of the Leased Premises Clause in Contracts

Surrender of the Leased Premises. On the expiry or earlier termination of the Term, the Tenant will peaceably surrender the Leased Premises to the Landlord in first class condition, will deliver all the keys for the Leased Premises to the Landlord at the place then fixed for the payment of Rent and will inform the Landlord of all combinations of locks, safes and vaults, if any, in the Leased Premises and will comply with all of its obligations as referred to in Section 11.5 hereof. This obligation survives the expiration of the Term or earlier termination of this Lease. If at the expiry or early termination of the Term, the Tenant does not remove its Trade Fixtures or any of its other property on the Leased Premises, the Landlord shall have no obligation in respect thereof and may sell or destroy the same or have them removed or stored at the expense of the Tenant; at the option of the Landlord, such Trade Fixtures or property shall become the absolute property of the Landlord without any compensation to the Tenant. In the event that Txxxxx fails to surrender the Leased Premises in the condition above referred to, then all costs and expenses of the Landlord in rectifying such default, including without limitation, lost Rent during any period of rectification, administrative fees and interest on amounts payable, in accordance with Section 4.2 (e) shall be payable by the Tenant, without deduction, abatement, discount for betterment or reasonable wear and tear, set off or otherwise. All Leasehold Improvements (other than Trade Fixtures) shall immediately upon their placement become the Landlord’s property without compensation to the Tenant. Except as otherwise agreed by the Landlord in writing, no Leasehold Improvements shall be removed from the Premises by the Tenant either during or at the expiry or sooner termination of the Term except that: (a) the Tenant may, during the Term, in the usual course of its business, remove its Trade Fixtures, provided that the Tenant is not in default under this lease and provided that such Trade Fixtures have become excess to the Tenant’s needs or the Tenant is substituting new and similar Trade Fixtures therefore; and (b) the Tenant shall, at the expiration or earlier termination of the Term, at its sole cost remove such of the Leasehold Improvements and Trade Fixtures in the Premises as the Landlord shall require to be removed, and restore the Premises to the Landlord’s then current Building standard to the extent required by the Landlord, The Tenant shall at its own expense repair any damage caused to the Building by such removal.

Appears in 2 contracts

Samples: Industrial Lease (Above Food Ingredients Inc.), Above Food Ingredients Inc.

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Surrender of the Leased Premises. On the expiry or earlier termination of the Term, the Tenant will peaceably surrender the Leased Premises to the Landlord in first class condition, will deliver all the keys for the Leased Premises to the Landlord at the place then fixed for the payment of Rent and will inform the Landlord of all combinations of locks, safes and vaults, if any, in the Leased Premises and will comply with all of its obligations as referred to in Section 11.5 hereof. This obligation survives Upon the expiration of the Term or earlier termination of this Lease. If , Tenant shall, at the expiry or early termination of the Termits sole cost and expense, the Tenant does not remove its Trade Fixtures or any of its other property on the Leased Premises, the Landlord shall have no obligation in respect thereof and may sell or destroy the same or have them removed or stored at the expense of the Tenant; at the option of the Landlord, such Trade Fixtures or property shall become the absolute property of the Landlord without any compensation to the Tenant. In the event that Txxxxx fails to immediately (a) surrender the Leased Premises to Landlord in broom-clean condition and in good order, condition and repair, (b) remove from the Leased Premises or where located (i) Tenant's Property (as defined in Section 8.01 below), (ii) all data and communications equipment, wiring and cabling (including above ceiling, below raised floors and behind walls) installed by or on behalf of Tenant, and (iii) any alterations required to be removed pursuant to Section 7.03 below (excluding the initial Tenant Improvements; provided, however, that any commercial grade kitchen must be removed), and (c) repair any damage caused by any such removal and restore the Leased Premises to the condition above referred toexisting upon the Commencement Date, then all costs and expenses of the Landlord in rectifying such default, including without limitation, lost Rent during any period of rectification, administrative fees and interest on amounts payable, in accordance with Section 4.2 (e) shall be payable by the Tenant, without deduction, abatement, discount for betterment or reasonable wear and tear, damage by casualty or condemnation, and repairs and maintenance that are the responsibility of Landlord as expressly set off or otherwiseforth in this Lease excepted. Landlord shall notify Tenant at the time of the approval of the CD's (as defined in Exhibit B hereto) whether Landlord considers any portion of the Tenant Improvements to be a "commercial grade kitchen", and if Landlord considers such improvements to include a commercial grade kitchen, Tenant may adjust the CD's to modify the improvements. All Leasehold Improvements of Tenant's Property that is not removed within ten (other than Trade Fixtures10) days following Landlord's written demand therefor shall immediately upon their placement become the Landlord’s be conclusively deemed to have been abandoned and Landlord shall be entitled to dispose of such property at Tenant's cost without compensation incurring any liability to the Tenant. Except as otherwise agreed by the Landlord in writing, no Leasehold Improvements This Section 2.03 shall be removed from the Premises by the Tenant either during or at the expiry or sooner termination of the Term except that: (a) the Tenant may, during the Term, in the usual course of its business, remove its Trade Fixtures, provided that the Tenant is not in default under this lease and provided that such Trade Fixtures have become excess to the Tenant’s needs or the Tenant is substituting new and similar Trade Fixtures therefore; and (b) the Tenant shall, at survive the expiration or any earlier termination of the Term, at its sole cost remove such of the Leasehold Improvements and Trade Fixtures in the Premises as the Landlord shall require to be removed, and restore the Premises to the Landlord’s then current Building standard to the extent required by the Landlord, The Tenant shall at its own expense repair any damage caused to the Building by such removalthis Lease.

Appears in 1 contract

Samples: Office Lease (Channeladvisor Corp)

Surrender of the Leased Premises. On (a) Immediately prior to the expiry expiration of the Lease Term, or upon the earlier termination of this Lease, Tenant shall remove all Trade Fixtures (except surveillance cameras exterior to the Term, buildings which shall remain with the Tenant will peaceably Leased Premises) and repair any damage caused by such removal and vacate and surrender the Leased Premises to the Landlord in first class the condition required by the terms of this Lease. Without limiting the generality of the foregoing, Tenant shall surrender the Leased Premises (normal wear and tear excepted), in broom clean condition, will deliver with all interior walls cleaned, all trash, waste, and debris removed, all carpets cleaned, all HVAC equipment within the keys for Leased Premises in operating order and in good repair, and all floors cleaned, all to the reasonable satisfaction of Landlord. In the event there has been an event of damage or destruction governed by Article XI, or Condemnation affecting the Leased Premises, and Tenant has been complying with its obligations to repair and restore pursuant to Articles XI and XII thereof and is not otherwise in default under this Lease, Tenant may surrender the Leased Premises to Landlord without completion of such repair or restoration, and shall have no further obligations with respect thereto provided that Tenant, upon the termination of the Lease Term, relinquishes any rights to and assigns to Landlord at the place then fixed for the payment all of Rent and will inform the Landlord of all combinations of locks, safes and vaultsTenant's interest, if any, in insurance proceeds and pays to Landlord the Leased Premises amount of any insurance deductible to the extent such deductible amount has not already been expended on such repair or restoration, or any portion of an Award to which it is otherwise entitled under Article XII to the extent that it has not already been expended on such repairs or restoration. If Landlord so requests, Tenant shall, at its sole cost and will comply with all of its obligations as referred prior to in Section 11.5 hereof. This obligation survives the expiration of the Term or earlier termination of this Lease, remove any Leasehold Improvements not constructed or installed in compliance with Paragraph 5.1 or Paragraph 6.2 and repair all damage caused by such removal. If the Leased Premises are not so surrendered at the expiry or early termination of this Lease, Tenant shall be liable to Landlord for all costs incurred by Landlord in returning the TermLeased Premises to the required condition, plus interest, from the date of demand for payment of such costs to the date paid, on all costs incurred at the rate of Prime plus six percent (6%) per annum, but in no event less than thirteen and one half percent (13.5%) per annum. Tenant does not remove its Trade Fixtures shall indemnify Landlord against loss or any of its other property on liability resulting from delay by Tenant in so surrendering the Leased Premises, the Landlord shall have no obligation in respect thereof and may sell or destroy the same or have them removed or stored at the expense of the Tenant; at the option of the Landlordincluding, such Trade Fixtures or property shall become the absolute property of the Landlord without any compensation to the Tenant. In the event that Txxxxx fails to surrender the Leased Premises in the condition above referred to, then all costs and expenses of the Landlord in rectifying such default, including without limitation, any claims made by any succeeding tenant or losses to Landlord due to lost Rent during any period of rectification, administrative fees and interest on amounts payable, in accordance with Section 4.2 (e) shall be payable by the Tenant, without deduction, abatement, discount for betterment or reasonable wear and tear, set off or otherwiseopportunities to lease to succeeding tenants. All Leasehold Improvements (other than Trade Fixtures) shall immediately upon their placement become the Landlord’s property without compensation to the Tenant. Except as otherwise agreed by the Landlord in writing, no Leasehold Improvements shall be removed from the Premises by the Tenant either during or at the expiry or sooner termination of the Term except that: (a) the Tenant may, during the Term, in the usual course of its business, remove its Trade Fixtures, provided that the Tenant is not in default under this lease and provided that such Trade Fixtures have become excess to the Tenant’s needs or the Tenant is substituting new and similar Trade Fixtures therefore; and (b) the Tenant shall, at the expiration or earlier termination of the Term, at its sole cost remove such of the Leasehold Improvements and Trade Fixtures in the Premises as the Landlord shall require to be removed, and restore the Premises to the Landlord’s then current Building standard to the extent required by the Landlord, The Tenant shall at its own expense repair any damage caused to the Building by such removal.LOT B

Appears in 1 contract

Samples: Lease Agreement (Corporate Office Properties Trust Inc)

Surrender of the Leased Premises. On Immediately prior to the expiry expiration or upon the earlier termination of this Lease, Tenant shall remove all Tenant's Trade Fixtures and other personal property (unless the Termsame are subject to a lien of Landlord and Landlord elects to have such property remain), repair all damage caused by the Tenant will peaceably installation and removal of such property, and vacate and surrender the Leased Premises to Landlord immediately upon expiration or the Landlord earlier termination in the same condition as existed at the Commencement Date, reasonable wear tear excepted (however reasonable wear tear excepted shall not include wear and tear that would have been avoided by first class conditionmaintenance practices), will deliver with (a) all interior walls cleaned, (b) all interior painted surfaces to be repainted in the keys for original color if such painted surfaces have been damaged and repaired as a result of Tenant's removal of Tenant's Trade Fixtures and other personal property or if Tenant has repainted such surfaces or the Leased entire Premises in a color unacceptable to Landlord, (c) all holes in walls and floors repaired, (d) all carpets shampooed and cleaned, (e) all HVAC equipment in good operating order and repair, and (f) all floors cleaned; all to the reasonable satisfaction of Landlord. If Landlord at the place then fixed for the payment of Rent and will inform the Landlord of all combinations of locksso requests, safes and vaults, if any, in the Leased Premises and will comply with all of its obligations as referred to in Section 11.5 hereof. This obligation survives either before or after the expiration of the Term or earlier termination of this Lease. If at , Tenant shall prior to the expiry expiration or early earlier termination of the Termthis Lease or within ten (10) days of Landlord's request, the Tenant does not remove its Trade Fixtures or any of its other property on the Leased Premises, the Landlord shall have no obligation in respect thereof and may sell or destroy the same or have them removed or stored at the expense of the Tenant; at the option of the Landlord, such Trade Fixtures or property shall become the absolute property of the Landlord without any compensation to the Tenant. In the event that Txxxxx fails to surrender the Leased Premises in the condition above referred to, then all costs and expenses of the Landlord in rectifying such default, including without limitation, lost Rent during any period of rectification, administrative fees and interest on amounts payable, in accordance with Section 4.2 (e) shall be payable by the Tenant, without deduction, abatement, discount for betterment or reasonable wear and tear, set off or otherwise. All Leasehold Improvements (other than Trade Fixtures) shall immediately upon their placement become the Landlord’s property without compensation to the Tenant. Except as otherwise agreed by the Landlord in writing, no Leasehold Improvements shall be removed from the Premises by the Tenant either during or at the expiry or sooner termination of the Term except thatwhichever is later: (a) the Tenant mayremove any Leasehold Improvements designated by Landlord, during the Term, in the usual course of its business, remove its Trade Fixtures, provided that the Tenant is not in default under this lease and provided that such Trade Fixtures have become excess to the Tenant’s needs or the Tenant is substituting new and similar Trade Fixtures therefore; and (b) repair all damage caused by such removal, and (c) restore the Leased Premises to the condition existing prior to the time such removed Leasehold Improvements were initially installed. In the alternative, Landlord may elect that Tenant shallpay to Landlord the amount to so restore the Leased Premises to the condition required by Landlord hereunder. Landlord may hire independent contractors to inspect any systems for which Tenant was responsible for the purpose of determining whether they have been properly maintained by Tenant, and Tenant shall pay the cost thereof within ten (10) days after receipt of a statement therefor from Landlord. If the Leased Premises are not so surrendered at the expiration or earlier termination of this Lease, Tenant shall be liable to Landlord for all costs incurred by Landlord in returning the Term, at its sole cost remove such of the Leasehold Improvements and Trade Fixtures in the Premises as the Landlord shall require to be removed, and restore the Leased Premises to the Landlord’s then current Building standard to required condition, plus interest on all costs incurred at the extent required by the Landlord, The Agreed Interest Rate. Tenant shall at its own expense repair indemnify Landlord against loss or liability resulting from delay by Tenant in so surrendering the Leased Premises, including, without limitation, any damage caused claims made by any succeeding tenant or losses to Landlord due to lost opportunities to lease to succeeding tenants. Any personal property of Tenant or any other person left on the Building by Leased Premises after Tenant has abandoned, vacated, or surrendered the Leased Premises shall be deemed to be abandoned and Landlord may dispose of such removalproperty in accordance with the provisions of California Civil Code Sections 1980 et seq., or any successor statute.

Appears in 1 contract

Samples: Lease Agreement (Knightscope, Inc.)

Surrender of the Leased Premises. On (a) Immediately prior to the expiry expiration of the Lease Term, or upon the earlier termination of this Lease, Tenant shall remove all Trade Fixtures (except surveillance cameras exterior to the Term, buildings which shall remain with the Tenant will peaceably Leased Premises) and repair any damage caused by such removal and vacate and surrender the Leased Premises to the Landlord in first class the condition required by the terms of this Lease. Without limiting the generality of the foregoing, Tenant shall surrender the Leased Premises (normal wear and tear excepted), in broom clean condition, will deliver with all interior walls cleaned, all trash, waste, and debris removed, all carpets cleaned, all HVAC equipment within the keys for Leased Premises in operating order and in good repair, and all floors cleaned, all to the reasonable satisfaction of Landlord. In the event there has been an event of damage or destruction governed by Article XI, or Condemnation affecting the Leased Premises, and Tenant has been complying with its LOT A obligations to repair and restore pursuant to Articles XI and XII thereof and is not otherwise in default under this Lease, Tenant may surrender the Leased Premises to Landlord without completion of such repair or restoration, and shall have no further obligations with respect thereto provided that Tenant, upon the termination of the Lease Term, relinquishes any rights to and assigns to Landlord at the place then fixed for the payment all of Rent and will inform the Landlord of all combinations of locks, safes and vaultsTenant's interest, if any, in insurance proceeds and pays to Landlord the Leased Premises amount of any insurance deductible to the extent such deductible amount has not already been expended on such repair or restoration, or any portion of an Award to which it is otherwise entitled under Article XII to the extent that it has not already been expended on such repairs or restoration. If Landlord so requests, Tenant shall, at its sole cost and will comply with all of its obligations as referred prior to in Section 11.5 hereof. This obligation survives the expiration of the Term or earlier termination of this Lease, remove any Leasehold Improvements not constructed or installed in compliance with Paragraph 5.1 or Paragraph 6.2 and repair all damage caused by such removal. If the Leased Premises are not so surrendered at the expiry or early termination of this Lease, Tenant shall be liable to Landlord for all costs incurred by Landlord in returning the TermLeased Premises to the required condition, plus interest, from the date of demand for payment of such costs to the date paid, on all costs incurred at the rate of Prime plus six percent (6%) per annum, but in no event less than thirteen and one half percent (13.5%) per annum. Tenant does not remove its Trade Fixtures shall indemnify Landlord against loss or any of its other property on liability resulting from delay by Tenant in so surrendering the Leased Premises, the Landlord shall have no obligation in respect thereof and may sell or destroy the same or have them removed or stored at the expense of the Tenant; at the option of the Landlordincluding, such Trade Fixtures or property shall become the absolute property of the Landlord without any compensation to the Tenant. In the event that Txxxxx fails to surrender the Leased Premises in the condition above referred to, then all costs and expenses of the Landlord in rectifying such default, including without limitation, any claims made by any succeeding tenant or losses to Landlord due to lost Rent during any period of rectification, administrative fees and interest on amounts payable, in accordance with Section 4.2 (e) shall be payable by the Tenant, without deduction, abatement, discount for betterment or reasonable wear and tear, set off or otherwise. All Leasehold Improvements (other than Trade Fixtures) shall immediately upon their placement become the Landlord’s property without compensation opportunities to the Tenant. Except as otherwise agreed by the Landlord in writing, no Leasehold Improvements shall be removed from the Premises by the Tenant either during or at the expiry or sooner termination of the Term except that: (a) the Tenant may, during the Term, in the usual course of its business, remove its Trade Fixtures, provided that the Tenant is not in default under this lease and provided that such Trade Fixtures have become excess to the Tenant’s needs or the Tenant is substituting new and similar Trade Fixtures therefore; and (b) the Tenant shall, at the expiration or earlier termination of the Term, at its sole cost remove such of the Leasehold Improvements and Trade Fixtures in the Premises as the Landlord shall require to be removed, and restore the Premises to the Landlord’s then current Building standard to the extent required by the Landlord, The Tenant shall at its own expense repair any damage caused to the Building by such removalsucceeding tenants.

Appears in 1 contract

Samples: Lease Agreement (Corporate Office Properties Trust Inc)

Surrender of the Leased Premises. On the expiry or earlier termination of the Term, the Tenant will peaceably surrender the Leased Premises to the Landlord in first class conditionthe condition in which the Leased Premises are required to be maintained and repaired by the Tenant hereunder, subject only to reasonable wear and tear which does not affect the operation or use of the Leased Premises including the Building and all of its systems (including without limitation, any modular demising wall systems that are installed in the Leased Premises (which may be replaced from time to time by the Tenant) will remain in place at the end of the Term), will deliver all the keys for the Leased Premises Building to the Landlord at the place then fixed for the payment of Rent and will inform the Landlord of all combinations of locks, safes and vaults, if any, in the Leased Premises and will comply with all of its obligations as referred to in Section 11.5 hereof. This obligation survives the expiration of the Term or earlier termination of this Lease. If at the expiry or early termination of the Term, the Tenant does not remove its Trade Fixtures or any of its other property on the Leased Premises, the Landlord shall have no obligation in respect thereof and may sell or destroy the same or have them removed or stored at the expense of the Tenant; at the option of the Landlord, such Trade Fixtures or property shall become the absolute property of the Landlord without any compensation to the Tenant. In the event that Txxxxx Tenant fails to surrender the Leased Premises in the condition above referred to, then all costs and expenses of the Landlord in rectifying such default, including without limitation, lost Rent during any period of rectification, reasonable administrative fees and interest on amounts payable, in accordance with Section 4.2 (ed) shall be payable by the Tenant, without deduction, abatement, discount for betterment or reasonable wear and tear, set off or otherwise. All Leasehold Improvements (other than Trade Fixtures) shall immediately upon their placement become the Landlord’s property without compensation to the Tenant. Except as otherwise agreed by the Landlord in writing, no Leasehold Improvements shall be removed from the Premises by the Tenant either during or at the expiry or sooner termination of the Term except that: (a) the Tenant may, during the Term, in the usual course of its business, remove its Trade Fixtures, provided that the Tenant is not in default under this lease and provided that such Trade Fixtures have become excess to the Tenant’s needs or the Tenant is substituting new and similar Trade Fixtures therefore; and (b) the Tenant shall, at the expiration or earlier termination of the Term, at its sole cost remove such of the Leasehold Improvements and Trade Fixtures in the Premises as the Landlord shall require to be removed, and restore the Premises to the Landlord’s then current Building standard to the extent required by the Landlord, The Tenant shall at its own expense repair any damage caused to the Building by such removal.

Appears in 1 contract

Samples: Industrial Lease (Dirtt Environmental Solutions LTD)

Surrender of the Leased Premises. On the expiry or earlier termination of the Term, the Tenant will peaceably surrender the Leased Premises to the Landlord in first class condition, will deliver all the keys for the Leased Premises to the Landlord at the place then fixed for the payment of Rent and will inform the Landlord of all combinations of locks, safes and vaults, if any, in the Leased Premises and will comply with all of its obligations as referred to in Section 11.5 hereof. This obligation survives Upon the expiration of the Term or earlier termination of this Lease, Tenant shall immediately surrender the Leased Premises to Landlord in broom-clean condition and in good condition and repair, subject to reasonable wear and tear. If at Prior to the expiry expiration of the Lease Term or early within ten (10) days following the earlier termination of the Termthis Lease, the Tenant does not shall also remove its Trade Fixtures or personal property and trade fixtures, promptly repair any damage caused by such removal, and restore the Leased Premises to the condition existing prior to the installation of its other property on such items. At the time that Tenant surrenders the Leased Premises to Landlord, all systems serving the Leased Premises, the Landlord shall have no obligation in respect thereof and may sell or destroy the same or have them removed or stored at the expense of the Tenant; at the option of the Landlordincluding, such Trade Fixtures or property shall become the absolute property of the Landlord without any compensation to the Tenant. In the event that Txxxxx fails to surrender the Leased Premises in the condition above referred to, then all costs and expenses of the Landlord in rectifying such default, including without limitation, lost Rent during any period of rectificationelectrical, administrative fees plumbing, heating, ventilation and interest on amounts payableair conditioning, in accordance with Section 4.2 (e) shall be payable by the Tenantin good working order, without deduction, abatement, discount for betterment or subject to reasonable wear and tear. Notwithstanding the foregoing, Landlord acknowledges and agrees that Tenant's racking will be anchored to the concrete slab of the Building and that, upon Tenant vacating the Leased Premises, these anchors will be cut flush with the slab and neither removed nor filled. If Tenant fails to perform any of the obligations set off or otherwiseforth in this Section 2.03, Landlord may cause all of said property to be removed and restore the Leased Premises to its required condition and Tenant hereby agrees to pay all the costs and expenses incurred by Landlord in connection therewith immediately upon demand therefor. All Leasehold Improvements (other than Trade Fixtures) shall immediately upon their placement become the Landlord’s Tenant property without compensation to the Tenant. Except as otherwise agreed by the Landlord in writing, no Leasehold Improvements shall be removed from the Premises by the Tenant either during or at the expiry or sooner termination of the Term except that: (a) the Tenant may, during the Term, in the usual course of its business, remove its Trade Fixtures, provided that the Tenant which is not in default under this lease and provided that such Trade Fixtures have become excess to the Tenant’s needs or the Tenant is substituting new and similar Trade Fixtures therefore; and removed within ten (b10) the Tenant shall, at days following the expiration or earlier termination of the TermLease Tenn shall be conclusively deemed to have been abandoned by Tenant, at its sole cost remove such of the Leasehold Improvements and Trade Fixtures in the Premises as the Landlord shall require be entitled to be removed, and restore dispose of such property at Tenant's cost without thereby incurring any liability to Tenant. The provisions of this section shall survive the Premises to the Landlord’s then current Building standard to the extent required by the Landlord, The Tenant shall at its own expense repair any damage caused to the Building by such removalexpiration or other termination of this Lease.

Appears in 1 contract

Samples: Subordination Agreement (Systemax Inc)

Surrender of the Leased Premises. On Immediately prior to the expiry expiration or earlier upon the sooner termination of the Termthis Lease, the Tenant will peaceably shall remove all of Tenant’s Trade Fixtures (except if such non-removal has been previously consented to by Landlord) and other personal property, and vacate and surrender the Leased Premises to the Landlord in first class conditionthe same condition as existed at the Commencement Date, will deliver and as improved from time-to-time as permitted by this Lease, reasonable wear and tear and damage by casualty excepted. If Landlord so requests and provided Landlord duly delivered a Removal Notice with respect thereto, Tenant shall, not later than the expiration or sooner termination of this Lease, remove any Leasehold Improvements installed by Tenant after the Commencement Date designated by Landlord and repair all damage caused by such removal. If the keys Leased Premises are not so surrendered at the termination of this Lease, Tenant shall be liable to Landlord for all actual and reasonable costs incurred by Landlord in returning the Leased Premises to the Landlord required condition, plus interest on all costs incurred at the place then fixed for the payment of Rent and will inform the Agreed Interest Rate. Tenant shall indemnify Landlord of all combinations of locks, safes and vaults, if any, against loss or liability resulting from delay by Tenant in so surrendering the Leased Premises and will comply with all Premises, including, without limitation, any claims made by any succeeding tenant or losses to Landlord due to lost opportunities to lease to succeeding tenants, provided that Landlord gives Tenant at least 15 days’ advance notice of its obligations as referred to in Section 11.5 hereofsuch claims. This obligation survives Tenant, on or before the expiration end of the Term or earlier sooner termination of this Lease. If at , shall remove all of Tenant’s personal property and trade fixtures from the expiry Premises, and all property not so removed on or early before the end of the Term or sooner termination of the Termthis Lease shall be deemed abandoned by Tenant and title to same shall thereupon pass to Landlord without compensation to Tenant. Landlord may, the Tenant does not upon termination of this Lease and five days’ prior notice to Tenant, remove its Trade Fixtures or all moveable furniture and equipment so abandoned by Tenant, at Tenant’s sole cost, and repair any of its other property on the Leased Premises, the Landlord damage caused by such removal at Tenant’s sole cost. Nothing contained herein shall have no obligation in respect thereof and may sell or destroy the same or have them removed or stored at the expense be construed as an extension of the Term hereof or as consent by Landlord to any holding over by Tenant; . The voluntary or other surrender of this Lease or the Premises by Tenant or a mutual cancellation of this Lease shall not work as a merger and, at the option of the Landlord, shall either terminate all or any existing subleases or sub-tenancies or operate as an assignment to Landlord of all or any such Trade Fixtures subleases or property shall become the absolute property of the Landlord without any compensation to the Tenant. In the event that Txxxxx fails to surrender the Leased Premises in the condition above referred to, then all costs and expenses of the Landlord in rectifying such default, including without limitation, lost Rent during any period of rectification, administrative fees and interest on amounts payable, in accordance with Section 4.2 (e) shall be payable by the Tenant, without deduction, abatement, discount for betterment or reasonable wear and tear, set off or otherwise. All Leasehold Improvements (other than Trade Fixtures) shall immediately upon their placement become the Landlord’s property without compensation to the Tenant. Except as otherwise agreed by the Landlord in writing, no Leasehold Improvements shall be removed from the Premises by the Tenant either during or at the expiry or sooner termination of the Term except that: (a) the Tenant may, during the Term, in the usual course of its business, remove its Trade Fixtures, provided that the Tenant is not in default under this lease and provided that such Trade Fixtures have become excess to the Tenant’s needs or the Tenant is substituting new and similar Trade Fixtures therefore; and (b) the Tenant shall, at the expiration or earlier termination of the Term, at its sole cost remove such of the Leasehold Improvements and Trade Fixtures in the Premises as the Landlord shall require to be removed, and restore the Premises to the Landlord’s then current Building standard to the extent required by the Landlord, The Tenant shall at its own expense repair any damage caused to the Building by such removalsub-tenancies.

Appears in 1 contract

Samples: Acceptance Agreement (Sight Sciences, Inc.)

Surrender of the Leased Premises. On Immediately prior to the expiry expiration or upon the earlier termination of this Lease, Tenant shall remove all Tenant’s Trade Fixtures and other personal property, repair all damage caused by the Terminstallation and removal of such property, the Tenant will peaceably and vacate and surrender the Leased Premises to Landlord immediately upon expiration or the earlier termination in the same condition as existed at the Commencement Date, reasonable wear and tear excepted, with (a) all interior walls and painted surfaces cleaned, (b) all holes in walls and floors repaired, (c) all carpets cleaned, and (d) all floors cleaned; all to the reasonable satisfaction of Landlord. If Landlord in first class conditionso requests, will deliver Tenant shall prior to the expiration or earlier termination of this Lease or within ten (10) days of Landlord’s request, whichever is later: (a) remove any Leasehold Improvements designated by Landlord, (b) repair all the keys for damage caused by such removal and (c) restore the Leased Premises to the condition existing prior to the time such removed Leasehold Improvements were initially installed. In the alternative Landlord at may elect that Tenant pay to Landlord the place then fixed for the payment of Rent and will inform the Landlord of all combinations of locks, safes and vaults, if any, in amount to so restore the Leased Premises and will comply with all of its obligations as referred to in Section 11.5 hereof. This obligation survives the expiration of the Term or earlier termination of this Leasecondition required by Landlord hereunder. If at the expiry or early termination of the Term, the Tenant does not remove its Trade Fixtures or any of its other property on the Leased Premises, the Landlord shall have no obligation in respect thereof and may sell or destroy the same or have them removed or stored at the expense of the Tenant; at the option of the Landlord, such Trade Fixtures or property shall become the absolute property of the Landlord without any compensation to the Tenant. In the event that Txxxxx fails to surrender the Leased Premises in the condition above referred to, then all costs and expenses of the Landlord in rectifying such default, including without limitation, lost Rent during any period of rectification, administrative fees and interest on amounts payable, in accordance with Section 4.2 (e) shall be payable by the Tenant, without deduction, abatement, discount for betterment or reasonable wear and tear, set off or otherwise. All Leasehold Improvements (other than Trade Fixtures) shall immediately upon their placement become the Landlord’s property without compensation to the Tenant. Except as otherwise agreed by the Landlord in writing, no Leasehold Improvements shall be removed from the Premises by the Tenant either during or at the expiry or sooner termination of the Term except that: (a) the Tenant may, during the Term, in the usual course of its business, remove its Trade Fixtures, provided that the Tenant is are not in default under this lease and provided that such Trade Fixtures have become excess to the Tenant’s needs or the Tenant is substituting new and similar Trade Fixtures therefore; and (b) the Tenant shall, so surrendered at the expiration or earlier termination of this Lease, Tenant shall be liable to Landlord for all costs reasonably incurred by Landlord in returning the Term, at its sole cost remove such of the Leasehold Improvements and Trade Fixtures in the Premises as the Landlord shall require to be removed, and restore the Leased Premises to the Landlordrequired condition, plus interest on all costs incurred at the Agreed Interest Rate. Tenant shall indemnify Landlord against loss or liability resulting from delay by Tenant in so surrendering the Leased Premises, including, without limitation, any claims made by any succeeding tenant or losses to Landlord due to lost opportunities to lease to succeeding tenants. Any furniture, Trade Fixtures, equipment, and other personal property of Tenant or any other person left on the Leased Premises after Tenant has abandoned, vacated, or surrendered the Leased Premises shall be deemed to be abandoned and Landlord may dispose of such property as it deems expedient, at Tenant’s then current Building standard expense. Notwithstanding the foregoing and/or anything to the extent required by the Landlordcontrary contained in this Lease, The Landlord acknowledges and agrees that Tenant shall not be required to remove any of the initial Tenant Improvements (as such term is defined in Exhibit C attached hereto) at its own expense repair any damage caused to the Building by such removalexpiration or earlier termination of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Spectrum Pharmaceuticals Inc)

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Surrender of the Leased Premises. On the expiry or earlier termination of the Term, the Tenant will peaceably surrender the Leased Premises to the Landlord in first class condition, will deliver all the keys for the Leased Premises to the Landlord at the place then fixed for the payment of Rent and will inform the Landlord of all combinations of locks, safes and vaults, if any, in the Leased Premises and will comply with all of its obligations as referred to in Section 11.5 hereof. This obligation survives Upon the expiration of the Term or earlier termination of this Lease. If at the expiry or early termination of the Term, the Tenant does not remove its Trade Fixtures or any of its other property on the Leased Premises, the Landlord shall have no obligation in respect thereof and may sell or destroy the same or have them removed or stored at the expense of the Tenant; at the option of the Landlord, such Trade Fixtures or property shall become the absolute property of the Landlord without any compensation to the Tenant. In the event that Txxxxx fails to immediately surrender the Leased Premises in the condition above referred to, then all costs and expenses of the to Landlord in rectifying such defaultbroom-clean condition, including without limitationin good condition and repair, lost Rent during any period of rectificationordinary wear and tear and casualty loss and condemnation covered by Articles 9 and 10 excepted, administrative fees and interest on amounts payable, in accordance with Section 4.2 the surrender conditions listed on the Exhibit D attached hereto. Tenant shall also remove its personal property, trade fixtures, wiring and cabling (eincluding above ceiling) shall be payable installed by the Tenant, without deduction, abatement, discount for betterment or reasonable wear and tear, set off or otherwise. All Leasehold Improvements (other than Trade Fixtures) shall immediately upon their placement become the Landlord’s property without compensation to the Tenant. Except as otherwise agreed by the Landlord in writing, no Leasehold Improvements shall be removed from the Premises by the Tenant either during or at the expiry or sooner termination of the Term except that: (a) the Tenant may, during the Term, in the usual course of its business, remove its Trade Fixtures, provided that the Tenant is not in default under this lease and provided that such Trade Fixtures have become excess to the Tenant’s needs or the Tenant is substituting new and similar Trade Fixtures therefore; and (b) the Tenant shall, at the expiration or earlier termination of the Term, at its sole cost remove such of the Leasehold Improvements and Trade Fixtures in the Premises as the Landlord shall require to be removed, and restore the Premises to the Landlord’s then current Building standard to the extent required by law or regulation or to the extent required by Landlord in its reasonable discretion, and any of Tenant’s alterations approved by Landlord and designated for such removal by Landlord at the time of Landlord, The ’s approval or any other of Tenant’s alterations not approved by Landlord which Landlord may require in its reasonable discretion be removed. Tenant shall at its own expense promptly repair any damage caused to the Building by such removal, and restore the Leased Premises to the condition existing prior to the installation of such items, ordinary wear and tear and casualty loss and condemnation covered by Articles 9 and 10 excepted. Unless otherwise agreed in writing by Landlord, at Landlord’s option, Tenant shall be required to remove any unique Tenant Improvements installed as a result of Tenant’s specific use of the Leased Premises. If Tenant fails to do so, Landlord may restore the Leased Premises to such condition at Tenant’s expense, Landlord may cause all of said property to be removed at Tenant’s expense, and Tenant hereby agrees to pay all the costs and expenses thereby reasonably incurred. Unless otherwise agreed in writing by Landlord, all Tenant property which is not removed within ten (10) days following Landlord’s written demand therefor shall be conclusively deemed to have been abandoned by Tenant, and Landlord shall be entitled to dispose of such property at Tenant’s cost without thereby incurring any liability to Tenant. Notwithstanding anything in this Lease to the contrary, Landlord agrees that Tenant shall not be required to remove any of the Tenant Improvements constructed by Landlord pursuant to Section 2.02 of this Lease unless otherwise noted on the Plans and Specifications. The provisions of this Section 2.03 shall survive the expiration or other termination of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Cellstar Corp)

Surrender of the Leased Premises. On Immediately prior to the expiry expiration or upon the earlier termination of this Lease, Tenant shall remove all Tenant's Trade Fixtures and other personal property (unless the Termsame are subject to a lien of Landlord and Landlord elects to have such property remain), repair all damage caused by the Tenant will peaceably installation and removal of such property, and vacate and surrender the Leased Premises to Landlord immediately upon expiration or the Landlord earlier termination in the same condition as existed at the Commencement Date, reasonable wear tear excepted (however reasonable wear tear excepted shall not include wear and tear that would have been avoided by first class conditionmaintenance practices), will deliver with (a) all interior walls cleaned, (b) all interior painted surfaces to be repainted in the keys for original color if such painted surfaces have been damaged and repaired as a result of Tenant’s removal of Tenant’s Trade Fixtures and other personal property or if Tenant has repainted such surfaces or the Leased entire Premises in a color unacceptable to Landlord, (c) all holes in walls and floors repaired, (d) all carpets shampooed and cleaned, (e) all HVAC equipment in good operating order and repair, and (f) all floors cleaned; all to the reasonable satisfaction of Landlord. If Landlord at the place then fixed for the payment of Rent and will inform the Landlord of all combinations of locksso requests, safes and vaults, if any, in the Leased Premises and will comply with all of its obligations as referred to in Section 11.5 hereof. This obligation survives either before or after the expiration of the Term or earlier termination of this Lease. If at , Tenant shall prior to the expiry expiration or early earlier termination of the Termthis Lease or within ten (10) days of Landlord's request, the Tenant does not remove its Trade Fixtures or any of its other property on the Leased Premises, the Landlord shall have no obligation in respect thereof and may sell or destroy the same or have them removed or stored at the expense of the Tenant; at the option of the Landlord, such Trade Fixtures or property shall become the absolute property of the Landlord without any compensation to the Tenant. In the event that Txxxxx fails to surrender the Leased Premises in the condition above referred to, then all costs and expenses of the Landlord in rectifying such default, including without limitation, lost Rent during any period of rectification, administrative fees and interest on amounts payable, in accordance with Section 4.2 (e) shall be payable by the Tenant, without deduction, abatement, discount for betterment or reasonable wear and tear, set off or otherwise. All Leasehold Improvements (other than Trade Fixtures) shall immediately upon their placement become the Landlord’s property without compensation to the Tenant. Except as otherwise agreed by the Landlord in writing, no Leasehold Improvements shall be removed from the Premises by the Tenant either during or at the expiry or sooner termination of the Term except thatwhichever is later: (a) the Tenant mayremove any Leasehold Improvements designated by Landlord, during the Term, in the usual course of its business, remove its Trade Fixtures, provided that the Tenant is not in default under this lease and provided that such Trade Fixtures have become excess to the Tenant’s needs or the Tenant is substituting new and similar Trade Fixtures therefore; and (b) repair all damage caused by such removal, and (c) restore the Leased Premises to the condition existing prior to the time such removed Leasehold Improvements were initially installed. In the alternative, Landlord may elect that Tenant shallpay to Landlord the amount to so restore the Leased Premises to the condition required by Landlord hereunder. Landlord may hire independent contractors to inspect any systems for which Tenant was responsible for the purpose of determining whether they have been properly maintained by Tenant, and Tenant shall pay the cost thereof within ten (10) days after receipt of a statement therefor from Landlord. If the Leased Premises are not so surrendered at the expiration or earlier termination of this Lease, Tenant shall be liable to Landlord for all costs incurred by Landlord in returning the Term, at its sole cost remove such of the Leasehold Improvements and Trade Fixtures in the Premises as the Landlord shall require to be removed, and restore the Leased Premises to the Landlord’s then current Building standard to required condition, plus interest on all costs incurred at the extent required by the Landlord, The Agreed Interest Rate. Tenant shall at its own expense repair indemnify Landlord against loss or liability resulting from delay by Tenant in so surrendering the Leased Premises, including, without limitation, any damage caused claims made by any succeeding tenant or losses to Landlord due to lost opportunities to lease to succeeding tenants. Any personal property of Tenant or any other person left on the Building by Leased Premises after Tenant has abandoned, vacated, or surrendered the Leased Premises shall be deemed to be abandoned and Landlord may dispose of such removalproperty in accordance with the provisions of California Civil Code Sections 1980 et seq., or any successor statute.

Appears in 1 contract

Samples: Lease Agreement (Knightscope, Inc.)

Surrender of the Leased Premises. On Immediately prior to the expiry expiration or upon the earlier termination of this Lease, Tenant shall remove all Tenant's Trade Fixtures and other personal property, repair all damage caused by the Terminstallation and removal of such property, the Tenant will peaceably and vacate and surrender the Leased Premises to the Landlord in first class conditionthe same condition as existed at the Commencement Date, will deliver reasonable wear and tear excepted, with (i) all interior walls cleaned, (ii) all interior painted surfaces to be repainted in the keys for original color, (iii) all holes in walls and floor repaired, (iv) all carpets shampooed and cleaned, (v) all HVAC equipment within the Leased Premises in good operating order and repair, and (vi) all floors cleaned, all to the reasonable satisfaction of Landlord. If Landlord at the place then fixed for the payment of Rent and will inform the Landlord of all combinations of locksso requests, safes and vaultsTenant shall, if any, in the Leased Premises and will comply with all of its obligations as referred prior to in Section 11.5 hereof. This obligation survives the expiration of the Term or earlier termination of this Lease, (i) remove any Leasehold Improvements designated by Landlord, (ii) repair all damage caused by such removal and (iii) restore the Leased Premises to the condition existing prior to the time such removed Leasehold Improvements were initially installed. Landlord may hire independent contractors to inspect any HVAC system serving the Leased Premises for the purpose of determining whether they have been properly maintained by Tenant, and Tenant shall pay the cost thereof within ten (10) days after receipt of a statement therefor from Landlord. If the Leased Premises are not so surrendered at the expiry or early termination of this Lease, Tenant shall be liable to Landlord for all costs incurred by Landlord in returning the TermLeased Premises to the required condition, plus interest on all costs incurred at the Agreed Interest Rate. Tenant does not remove its Trade Fixtures shall indemnify Landlord against loss or any of its other property on liability resulting from delay by Tenant in so surrendering the Leased Premises, the including, without limitation, any claims made by any succeeding tenant or losses to Landlord shall have no obligation in respect thereof and may sell or destroy the same or have them removed or stored at the expense of the Tenant; at the option of the Landlord, such Trade Fixtures or property shall become the absolute due to lost opportunities to lease to succeeding tenants. Any personal property of the Landlord without Tenant or any compensation to the Tenant. In the event that Txxxxx fails to surrender other person left on the Leased Premises in after Tenant has abandoned, vacated, or surrendered the condition above referred to, then all costs Leased Premises shall be deemed to be abandoned and expenses Landlord may dispose of the Landlord in rectifying such default, including without limitation, lost Rent during any period of rectification, administrative fees and interest on amounts payable, property in accordance with Section 4.2 (e) shall be payable by the Tenant, without deduction, abatement, discount for betterment or reasonable wear and tear, set off or otherwise. All Leasehold Improvements (other than Trade Fixtures) shall immediately upon their placement become the Landlord’s property without compensation to the Tenant. Except as otherwise agreed by the Landlord in writing, no Leasehold Improvements shall be removed from the Premises by the Tenant either during or at the expiry or sooner termination provisions of the Term except that: (a) the Tenant may, during the Term, in the usual course of its business, remove its Trade Fixtures, provided that the Tenant is not in default under this lease and provided that such Trade Fixtures have become excess to the Tenant’s needs or the Tenant is substituting new and similar Trade Fixtures therefore; and (b) the Tenant shall, at the expiration or earlier termination of the Term, at its sole cost remove such of the Leasehold Improvements and Trade Fixtures in the Premises as the Landlord shall require to be removed, and restore the Premises to the Landlord’s then current Building standard to the extent required by the Landlord, The Tenant shall at its own expense repair any damage caused to the Building by such removalCalifornia Civil Code Sections 1980-1991.

Appears in 1 contract

Samples: Healthetech Inc

Surrender of the Leased Premises. On Immediately prior to the expiry expiration or upon the earlier termination of this Lease, Tenant shall remove all Tenant’s Trade Fixtures and other personal property, repair all damage caused by the Terminstallation and removal of such property, the Tenant will peaceably and vacate and surrender the Leased Premises to Landlord immediately upon expiration or the Landlord earlier termination in first class condition, will deliver all the keys for condition that Tenant is required to maintain the Leased Premises under this Lease and in substantially the same condition as existed upon the completion of the initial Tenant Improvements and Tenant Improvements, reasonable wear tear excepted (however, reasonable wear tear excepted shall not include wear and tear that would have been avoided by reasonably appropriate maintenance practices). Subject to the Landlord at the place then fixed for the payment terms of Rent and will inform the Landlord of all combinations of locks, safes and vaultsSection 5.2 above, if anyLandlord so requests, in the Leased Premises and will comply with all of its obligations as referred to in Section 11.5 hereof. This obligation survives either before or after the expiration of the Term or earlier termination of this Lease. If at , Tenant shall prior to the expiry expiration or early earlier termination of the Termthis Lease, the Tenant does not remove its Trade Fixtures or any within thirty (30) days of its other property on the Leased Premises, the Landlord shall have no obligation in respect thereof and may sell or destroy the same or have them removed or stored at the expense of the Tenant; at the option of the Landlord, such Trade Fixtures or property shall become the absolute property of the Landlord without any compensation to the Tenant. In the event that Txxxxx fails to surrender the Leased Premises in the condition above referred to, then all costs and expenses of the Landlord in rectifying such default, including without limitation, lost Rent during any period of rectification, administrative fees and interest on amounts payable, in accordance with Section 4.2 (e) shall be payable by the Tenant, without deduction, abatement, discount for betterment or reasonable wear and tear, set off or otherwise. All Leasehold Improvements (other than Trade Fixtures) shall immediately upon their placement become the Landlord’s property without compensation to the Tenant. Except as otherwise agreed by the Landlord in writingrequest, no Leasehold Improvements shall be removed from the Premises by the Tenant either during or at the expiry or sooner termination of the Term except thatwhichever is later: (a) remove any Leasehold Improvements designated by Landlord (other than the initial Tenant mayImprovements and/or any Cosmetic Improvements), during the Term, in the usual course of its business, remove its Trade Fixtures, provided that the Tenant is not in default under this lease and provided that such Trade Fixtures have become excess to the Tenant’s needs or the Tenant is substituting new and similar Trade Fixtures therefore; and (b) repair all damage caused by such removal, and (c) restore the Leased Premises to the condition existing prior to the time such removed Leasehold Improvements were initially installed, reasonable wear and tear excepted. Landlord may hire independent contractors to inspect any systems for which Xxxxxx was responsible for the purpose of determining whether they have been properly maintained by Tenant, and Tenant shall, shall pay the reasonable cost thereof within thirty (30) days after receipt of a statement therefor from Landlord if it is determined that Tenant failed to maintain the Leased Premises as required by this Lease. If the Leased Premises are not so surrendered at the expiration or earlier termination of this Lease, Tenant shall be liable to Landlord for all reasonable out- of-pocket costs incurred by Landlord in returning the Term, at its sole cost remove such of the Leasehold Improvements and Trade Fixtures in the Premises as the Landlord shall require to be removed, and restore the Leased Premises to the Landlord’s then current Building standard required condition, plus interest on all costs incurred at the Agreed Interest Rate. Any personal property of Tenant or any other person left on the Leased Premises after Xxxxxx has abandoned, vacated, or surrendered the Leased Premises shall be deemed to be abandoned and Landlord may dispose of such property in accordance with the extent required by the Landlordprovisions of California Civil Code Sections 1980 et seq., The Tenant shall at its own expense repair or any damage caused to the Building by such removal.successor statute. 15.2

Appears in 1 contract

Samples: Lease Agreement (Sumo Logic, Inc.)

Surrender of the Leased Premises. On (a) Immediately prior to the expiry expiration of the Lease Term, or upon the earlier termination of this Lease, Tenant shall remove all Trade Fixtures (except surveillance cameras exterior to the Term, buildings which shall remain with the Tenant will peaceably Leased Premises) and repair any damage caused by such removal and vacate and surrender the Leased Premises to the Landlord in first class the condition required by the terms of this Lease. Without limiting the generality of the foregoing, Tenant shall surrender the Leased Premises (normal wear and tear excepted), in broom clean condition, will deliver with all interior walls cleaned, all trash, waste, and debris removed, all carpets cleaned, all HVAC equipment within the keys for Leased Premises in operating order and in good repair, and all floors cleaned, all to the reasonable satisfaction of Landlord. In the event there has been an event of damage or destruction governed by Article XI, or Condemnation affecting the Leased Premises, and Tenant has been complying with its obligations to repair and restore pursuant to Articles XI and XII thereof and is not otherwise in default under this Lease, Tenant may surrender the Leased Premises to Landlord without completion of such repair or restoration, and shall have no further obligations with respect thereto provided that Tenant, upon the termination of the Lease Term, relinquishes any rights to and assigns to Landlord at the place then fixed for the payment all of Rent and will inform the Landlord of all combinations of locks, safes and vaultsTenant's interest, if any, in insurance proceeds and pays to Landlord the Leased Premises amount of any insurance deductible to the extent such deductible amount has not already been expended on such repair or restoration, or any portion of an Award to which it is otherwise entitled under Article XII to the extent that it has not already been expended on such repairs or restoration. If Landlord so requests, Tenant shall, at its sole cost and will comply with all of its obligations as referred prior to in Section 11.5 hereof. This obligation survives the expiration of the Term or earlier termination of this Lease, remove any Leasehold Improvements not constructed or installed in compliance with Paragraph 5.1 or Paragraph 6.2 and repair all damage caused by such removal. If the Leased Premises are not so surrendered at the expiry or early termination of this Lease, Tenant shall be liable to Landlord for all costs LOT C incurred by Landlord in returning the TermLeased Premises to the required condition, plus interest, from the date of demand for payment of such costs to the date paid, on all costs incurred at the rate of Prime plus six percent (6%) per annum, but in no event less than thirteen and one half percent (13.5%) per annum. Tenant does not remove its Trade Fixtures shall indemnify Landlord against loss or any of its other property on liability resulting from delay by Tenant in so surrendering the Leased Premises, the Landlord shall have no obligation in respect thereof and may sell or destroy the same or have them removed or stored at the expense of the Tenant; at the option of the Landlordincluding, such Trade Fixtures or property shall become the absolute property of the Landlord without any compensation to the Tenant. In the event that Txxxxx fails to surrender the Leased Premises in the condition above referred to, then all costs and expenses of the Landlord in rectifying such default, including without limitation, any claims made by any succeeding tenant or losses to Landlord due to lost Rent during any period of rectification, administrative fees and interest on amounts payable, in accordance with Section 4.2 (e) shall be payable by the Tenant, without deduction, abatement, discount for betterment or reasonable wear and tear, set off or otherwise. All Leasehold Improvements (other than Trade Fixtures) shall immediately upon their placement become the Landlord’s property without compensation opportunities to the Tenant. Except as otherwise agreed by the Landlord in writing, no Leasehold Improvements shall be removed from the Premises by the Tenant either during or at the expiry or sooner termination of the Term except that: (a) the Tenant may, during the Term, in the usual course of its business, remove its Trade Fixtures, provided that the Tenant is not in default under this lease and provided that such Trade Fixtures have become excess to the Tenant’s needs or the Tenant is substituting new and similar Trade Fixtures therefore; and (b) the Tenant shall, at the expiration or earlier termination of the Term, at its sole cost remove such of the Leasehold Improvements and Trade Fixtures in the Premises as the Landlord shall require to be removed, and restore the Premises to the Landlord’s then current Building standard to the extent required by the Landlord, The Tenant shall at its own expense repair any damage caused to the Building by such removalsucceeding tenants.

Appears in 1 contract

Samples: Lease Agreement (Corporate Office Properties Trust Inc)

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