Common use of Surrender of the Property Clause in Contracts

Surrender of the Property. 18.1 In the event Tenant does not exercise and fulfill the requirements of the First Offer Right, upon the expiration or sooner termination of this Lease, Tenant shall quit and surrender the Property, in the condition required to be maintained in accordance with this Lease, to Landlord without any payment therefor by Landlord without delay, free and clear of all lettings and occupancies. Upon such expiration or termination of this Lease, any Tenant’s Property which shall remain on the Property after the expiration or termination of this Lease may, at the option of Landlord, be deemed to have been abandoned, and may either be retained by Landlord as its property or be disposed at Tenant’s expense or without accountability, as Landlord may see fit, provided that if Landlord shall store or warehouse any such property for any period of time Tenant shall reimburse Landlord for all expenses incurred in connection therewith, which obligation shall survive any such expiration or termination of this Lease. 18.2 In connection with the surrender of the Property pursuant to Section 18.1, Tenant shall be entitled to remove on or before the expiration or sooner termination of this Lease, Tenant’s Property and shall leave in place all Alterations. Tenant shall promptly repair, at its sole cost and expense, any damage to the Property caused by the removal of any of Tenant’s Property. 18.3 The provisions of this Article 18 shall survive the expiration or sooner termination of this Lease.

Surrender of the Property. 18.1 In At the event Tenant does not exercise and fulfill the requirements expiration of the First Offer Righttenancy hereby created, or upon any re-entry by Landlord pursuant to this Lease, Tenant shall, without notice to quit which Tenant hereby waives, surrender the Property in the same condition as the Property were upon completion of construction contemplated by Section 3 hereof, reasonable wear and tear excepted, and shall deliver all keys for the Property to Landlord at the place then fixed for the payment of rent, and shall inform Landlord of all combinations on locks, safes and vaults, if any, in the Property. Tenant shall remove all of its trade fixtures and other personal property, and any alterations, additions or improvements which Landlord requires to be removed, before surrendering the Property, and shall repair any damage caused by removal. Tenant's obligation to observe or perform this covenant shall survive the expiration or sooner other termination of this Lease, . If Tenant shall quit and surrender the Property, remains in the condition required to be maintained in accordance with this Lease, to Landlord without any payment therefor by Landlord without delay, free and clear possession of all lettings and occupancies. Upon such expiration or termination of this Lease, any Tenant’s Property which shall remain on the Property after the expiration or termination of this Lease may, at the option of Landlord, be deemed to have been abandoned, and may either be retained by Landlord as its property or be disposed at Tenant’s expense or without accountability, as Landlord may see fit, provided that if Landlord shall store or warehouse any such property for any period of time Tenant shall reimburse Landlord for all expenses incurred in connection therewith, which obligation shall survive any such expiration or termination of this Lease. 18.2 In connection with the surrender of the Property pursuant to Section 18.1term without the execution of a new lease, or a renewal or extension in writing, Tenant shall be entitled to remove on liable for all damages that Landlord may sustain by virtue thereof, including but not limited to, any amount for which Landlord may be liable under, or before as the result of, any lease entered into by Landlord for a term beginning at or after the expiration of the term. If, and while Tenant is holding over, it shall continue to be subject to and shall perform all of the conditions, provisions and obligations of this Lease except that Tenant shall pay Landlord rent at an amount equal to one hundred fifty percent (150%) of the rent provided to be paid hereunder immediately prior to the expiration of the term, and Tenant shall continue to be a tenant until its tenancy shall be terminated by Landlord, or sooner termination until Tenant shall have given Landlord written notice of at least one (1) full calendar month of its intention to terminate the tenancy. Nothing contained in this Lease, Tenant’s Property and however, shall leave in place all Alterations. Tenant shall promptly repair, at its sole cost and expense, any damage be construed as a consent by Landlord to the occupancy or possession of the Property caused by the removal of any of Tenant’s Property. 18.3 The provisions of this Article 18 shall survive Tenant after the expiration of the term, and Landlord, upon termination, shall be entitled to the benefit of all public general or sooner termination public local laws or ordinances relating to the recovery of this Leasepossession of lands and tenements held over by tenants, that may now be in force or hereafter enacted.

Surrender of the Property. 18.1 In the event Tenant does not exercise and fulfill the requirements of the First Offer Right, upon the expiration or sooner termination of this Lease, Tenant shall quit and surrender the Property, in the condition required to be maintained in accordance with this Lease, to Landlord without any payment therefor by Landlord without delay, free and clear of all lettings and occupancies. Upon such expiration or termination of this Lease, any Tenant’s Property owned by Tenant which shall remain on the Property after the expiration or termination of this Lease may, at the option of Landlord, be deemed to have been abandoned, and may either be retained by Landlord as its property or be disposed at Tenant’s expense or without accountability, as Landlord may see fit, provided that if Landlord shall store or warehouse any such property for any period of time Tenant shall reimburse Landlord for all expenses incurred in connection therewith, which obligation shall survive any such expiration or termination of this Lease. 18.2 In connection with the surrender of the Property pursuant to Section 18.1, Tenant shall be entitled to remove on or before the expiration or sooner termination of this Lease, its Tenant’s Property and shall leave in place all Alterations. Tenant shall promptly repair, at its sole cost and expense, any damage to the Property caused by the removal of any of Tenant’s Property. 18.3 The provisions of this Article 18 shall survive the expiration or sooner termination of this Lease.

Surrender of the Property. 18.1 In the event Tenant does not exercise and fulfill the requirements of the First Offer Right, upon the expiration or sooner termination of this Lease, Tenant shall quit and surrender the Property, in the condition required to be maintained in accordance with this Lease, to Landlord without any payment therefor by Landlord without delay, free and clear of all lettings and occupancies. Upon such expiration or termination of this Lease, any Tenant’s Property Equipment owned by Tenant which shall remain on the Property after the expiration or termination of this Lease may, at the option of Landlord, be deemed to have been abandoned, and may either be retained by Landlord as its property or be disposed at Tenant’s 's expense or without accountability, as Landlord may see fit, provided that if Landlord shall store or warehouse any such property for any period of time Tenant shall reimburse Landlord for all expenses incurred in connection therewith, which obligation shall survive any such expiration or termination of this Lease. 18.2 In connection with the surrender of the Property pursuant to Section 18.1, Tenant shall be entitled to remove on or before the expiration or sooner termination of this Lease, Tenant’s Property its Equipment and shall leave in place all Alterations. Tenant shall promptly repair, at its sole cost and expense, any damage to the Property caused by the removal of any of Tenant’s Property. 18.3 The provisions of this Article 18 shall survive the expiration or sooner termination of this Lease.