TERMINATION AND HOLDING OVER. This Lease shall terminate without further notice upon the expiration of the Term. Tenant shall have no right to extend or renew this Lease upon the expiration of the Term. Upon the expiration or earlier termination of the Term, Tenant shall peaceably and quietly surrender the Premises broom-clean and in the same condition (including, at Landlord's option, the demolition and removal of any improvements made by Tenant to the Premises as part of Tenant's Work or otherwise) as the Premises were in upon delivery of possession of same to Tenant by Landlord, reasonable wear and tear and any damage to the Premises Which Tenant is not required to repair pursuant to Article 17 excepted. Should Tenant hold over in the Premises beyond the expiration or earlier termination of this Lease, the holding over shall not constitute a renewal or extension of this Lease or give Tenant any rights under this Lease. In such event, Landlord may, in its sole discretion, treat Tenant as a tenant at will, subject to all of the terms and conditions in this Lease, except that Minimum Annual Rental shall be an amount equal to the greater of (a) [***] times the sum of Minimum Annual Rental and Percentage Rental which was payable by Tenant for the twelve (12) month period immediately preceding the expiration or earlier termination of this Lease, or (b) the then currently scheduled [***]. In the event Tenant fails to surrender the Premises upon the expiration or earlier termination of this Lease, Tenant shall indemnify and hold Landlord harmless from all loss or liability which may accrue therefrom including, without limitation, any claims made by any succeeding tenant founded on or resulting from Tenant's failure to surrender. Acceptance by Landlord of any Minimum Annual Rental, Percentage Rental or Additional Rental after the expiration or earlier termination of this Lease shall not constitute a consent to a holdover hereunder, constitute acceptance of Tenant as a tenant at will, or result in a renewal of this Lease.
Appears in 2 contracts
Samples: Retail Space Lease (Silicon Entertainment Inc /Ca/), Retail Space Lease (Silicon Entertainment Inc /Ca/)
TERMINATION AND HOLDING OVER. This Lease shall terminate without further notice upon the expiration of the Term. Tenant shall have no right to extend or renew this Lease upon the expiration of the Term. Upon the expiration or earlier termination of the Term, Tenant shall peaceably and quietly surrender the Premises broom-clean and in the same good condition (including, at Landlord's option, the demolition and removal of any improvements made by Tenant to the Premises as part of Tenant's Work or otherwise) as the Premises were in upon delivery of possession of same to Tenant by Landlordrepair, reasonable wear and tear and tear, any damage to the Premises Which which Tenant is not required to repair pursuant to Article 17 12, condemnation and Alterations not required to be removed pursuant to this Lease excepted. Tenant shall repair all damage to the Premises caused by Tenant’s removal of Tenant’s personal property, trade fixtures, equipment, Alterations and any Signage. Tenant shall patch and refinish, to Landlord’s reasonable satisfaction, all additional penetrations made by Tenant or its employees to the floor, walls or ceiling of the Premises, whether such penetrations were made with Landlord’s approval or not. If the Premises are not surrendered to Landlord in the condition required by this Section at the expiration or sooner termination of this Lease, Landlord may, at Tenant’s expense, so remove Tenant’s signs, property and/or improvements not so removed (if required to be removed pursuant to this Lease) and make such repairs and replacements not so made or hire, at Tenant’s expense, independent contractors to perform such work. Landlord may elect to retain or dispose of in any manner any Alterations or Tenant’s personal property that Tenant does not remove from the Property on or before the Expiration Date or earlier termination of this Lease as required by this Lease by giving written notice to Tenant. Any such Alterations or property that Landlord elects to retain or dispose of will vest in Landlord immediately on notice to Tenant. Tenant waives all claims against Landlord for any damage to Tenant resulting from Landlord’s retention or disposition of any such Alterations or property. Tenant is liable to Landlord for Landlord’s costs for storing, removing or disposing of any such Alterations or personal property. Tenant shall be liable to Landlord for all reasonable costs incurred by Landlord in returning the Premises to the required condition, together with interest on all costs so incurred from the date paid by Landlord at the Interest Rate until paid. Tenant shall pay to Landlord the amount of all such costs so incurred plus such interest thereon, within 10 days after Landlord’s billing Tenant for same, together with reasonable evidence of payment thereof (or, at Landlord’s election, Landlord may apply the Security Deposit to such expenses). Should Tenant hold over in the Premises beyond the expiration or earlier termination of this Lease, the holding over shall not constitute a renewal or extension of this Lease or give Tenant any rights under this Lease. In such event, Landlord may, in its sole discretion, treat Tenant as a tenant at will, subject to all of the terms and conditions in this Lease, except that Minimum Annual Monthly Rental shall be an amount equal to one hundred twenty-five percent (125%) of the greater of (a) [***] times the sum of Minimum Annual Rental and Percentage Monthly Rental which was payable by Tenant for during the twelve (12) month period immediately preceding the expiration or earlier termination of this Lease, or (b) the then currently scheduled [***]. In the event Tenant fails to surrender the Premises upon the expiration or earlier termination of this Lease, Tenant shall indemnify and hold Landlord harmless from all loss or liability which may accrue therefrom including, without limitation, any claims made by any succeeding tenant founded on or resulting from Tenant's failure to surrender. Acceptance by Landlord of any Minimum Annual Rental, Percentage Monthly Rental or Additional Rental after the expiration or earlier termination of this Lease shall not constitute a consent to a holdover hereunder, constitute acceptance of Tenant as a tenant at will, or result in a renewal of this Lease. If Landlord provides Tenant with at least thirty (30) days prior written notice that Landlord has a signed proposal or lease from a succeeding tenant to lease the Premises, and if Tenant fails to surrender the Premises upon the later of (i) the date of expiration of such thirty (30) day period, or (ii) the Expiration Date or earlier termination of this Lease, Tenant shall indemnify Landlord against all actions, liabilities, damages, losses, costs, expenses, attorneys’ fees and claims resulting from such failure, including any claim for damages made by a succeeding tenant.
Appears in 2 contracts
Samples: Lease (Neurocrine Biosciences Inc), Lease (Neurocrine Biosciences Inc)
TERMINATION AND HOLDING OVER. This Lease shall terminate without further notice upon the expiration of the Term. Tenant shall have no right to extend or renew this Lease upon the expiration of the Term. Upon the expiration or earlier termination of the Term, Tenant shall peaceably and quietly surrender the Premises broom-clean and in the same condition (including, at Landlord's ’s option, the demolition and removal of any improvements Alterations made by Tenant to the Premises as part Premises, unless at the time Landlord gave its consent to such Alterations Landlord agreed in writing that Tenant would not have to demolish and remove such Alterations upon the termination of Tenant's Work or otherwisethis Lease) as the Premises were in upon delivery of possession of same to Tenant by Landlord, reasonable wear and tear and any damage to the Premises Which which Tenant is not required to repair pursuant to Article 17 13 or Article 14 excepted. Subject to the foregoing, Tenant shall remove from the Premises all of Tenant’s trade fixtures, furniture, equipment, signs, improvements, additions and Alterations to the extent such items are not permanently affixed to the Premises, and immediately repair any damage occasioned to the Premises by reason of such removal so as to leave the Premises in a neat and clean condition. Should Tenant hold over in the Premises beyond the expiration or earlier termination of this Lease, the holding over shall not constitute a renewal or extension of this Lease or give Tenant any rights under this Lease. In such event, Landlord may, in its sole discretion, treat Tenant as a tenant at will, subject to all of the terms and conditions in this Lease, except that Minimum Annual Rental shall be an amount equal to the greater of (a) [***] times the sum of Minimum Annual Rental and Percentage Rental which was payable by Tenant for the twelve (12) month period immediately preceding the expiration or earlier termination of this Lease, or (b) the then currently scheduled [***]. In the event Tenant fails to surrender the Premises upon the expiration or earlier termination of this Lease, Tenant shall indemnify and hold Landlord harmless from all loss or liability which may accrue therefrom including, without limitation, any claims made by any succeeding tenant founded on or resulting from Tenant's failure to surrender. Acceptance by Landlord of any Minimum Annual Rental, Percentage Rental or Additional Rental after the expiration or earlier termination of this Lease shall not constitute a consent to a holdover hereunder, constitute acceptance of Tenant as a tenant at will, or result in a renewal of this Lease.
Appears in 1 contract
Samples: Lease Agreement
TERMINATION AND HOLDING OVER. This Lease shall terminate without further notice upon the expiration of the Term. Tenant shall have no right to extend or renew this Lease upon the expiration of the Term. Upon the expiration or earlier termination of the Term, Tenant shall peaceably and quietly surrender the Premises broom-clean and in the same condition (including, at Landlord's option, the demolition and removal of any improvements made by Tenant to the Premises as part of Tenant's Work or otherwise) as the Premises were in upon delivery of possession of same to Tenant by Landlordon the Commencement Date, reasonable wear and tear and any damage to the Premises Which which Tenant is not required to repair pursuant to Article 17 this Lease excepted. Should Tenant hold over in the Premises beyond the expiration or earlier termination of this Lease, the holding over shall not constitute a renewal or extension of this Lease or give Tenant any rights under this Lease. In such event, Landlord may, in its sole discretion, either (i) upon written notice to Tenant, treat Tenant as a month-to-month tenant at will, subject to all of the terms terms, covenants and conditions in this Lease, except that Minimum Annual Monthly Rental shall be an amount equal to the greater of one and one-half (a11/2) [***] times the sum of Minimum Annual Rental and Percentage Monthly Rental which was payable by Tenant for the twelve (12) month period immediately preceding the expiration or earlier termination of this Lease, or (bii) the then currently scheduled [***]proceed with an unlawful detainer action and pursue all other rights and remedies available to Landlord. In the event If Tenant fails to surrender the Premises upon the expiration or earlier termination of this Lease, Tenant shall indemnify indemnify, defend (with counsel reasonably acceptable to Landlord) and hold harmless Landlord harmless from and against, all loss or liability Claims which may accrue therefrom including, without limitationbut not limited to, any claims made by any succeeding tenant or purchaser of the Premises founded on or resulting from Tenant's failure to surrender. Acceptance by Landlord of any Minimum Annual Rental, Percentage Rental or Additional Rental Rent after the expiration or earlier termination of this Lease shall not constitute a consent to a holdover hereunder, constitute acceptance of Tenant as a tenant at will, or result in a renewal of this Lease.
Appears in 1 contract
TERMINATION AND HOLDING OVER. This Lease shall terminate without further notice Notice upon the expiration of the Term. Expiration Date and Tenant shall have no right to thereafter extend or renew this Lease upon the expiration of the TermLease. Upon the expiration or earlier termination of the TermExpiration Date, Tenant shall (i) peaceably and quietly surrender the Premises Premises, including Tenant’s Work and all Alterations, in a good and broom-clean and in the same condition (including, at Landlord's option, the demolition and removal of any improvements made by Tenant to the Premises as part of Tenant's Work or otherwise) as the Premises were in upon delivery of possession of same to Tenant by Landlord, except for reasonable wear and tear and any damage to the Premises Which which Tenant is not required to repair pursuant under Article 13, and (ii) remove all of its exterior signage and trade fixtures, furniture, equipment and signs from the Premises to Article 17 exceptedthe extent they are not permanently affixed, and immediately repair any damage resulting from such removal so as to leave the Premises in the condition required by this Section 21.10. Notwithstanding the foregoing, at Landlord’s option, Landlord may require Tenant to remove any Non-Conforming Improvements and repair any damage resulting from such removal. The term “Non-Conforming Improvements” means any special or unusual improvements or structures within the Premises, regardless of when constructed or installed by Tenant, that are not generally found at other retail stores in comparable shopping centers in Orange County, such as, by way of example and without limitation, unusual storefronts, alterations specific to Tenant’s trade dress, stairways, elevators, escalators, dumbwaiters, built-in safes, built-in vaults, fountains, pools, and similar installations. Upon the removal of Tenant’s exterior signage, Landlord shall have the right to restore the Building fascia to its original condition, or to cause Tenant to restore such Building fascia, in each case at Tenant’s sole cost and expense. Should Tenant hold over in the Premises beyond the expiration or earlier termination of this LeaseExpiration Date, the holding over Base Rent for the first sixty (60) days of such holdover period shall not constitute be one and one- half (1-1/2) times the Base Rent payable for the twelve (12)-month period immediately preceding the Expiration Date, and after the expiration of such first sixty (60) days, the Base Rent shall increase to two (2) times the Base Rent payable for the twelve (12)-month period immediately preceding the Expiration Date. As long as the parties are in good faith negotiating a renewal or extension of this Lease or give Tenant any rights under this Lease. In such event, Landlord may, in its sole discretion, treat Tenant as a tenant at will, subject to all of the terms and conditions in this Lease, except that Minimum Annual Rental shall be an amount equal to the greater of (a) [***] times the sum of Minimum Annual Rental and Percentage Rental which was payable by Tenant for the twelve (12) month period immediately preceding the expiration or earlier termination of this Lease, or a relocation of the Premises within the Shopping Center, no increase in Base Rent shall take effect until sixty (b60) days after the then currently scheduled [***]Expiration Date. In the event If Tenant fails to surrender the Premises upon the expiration or earlier termination of this LeaseExpiration Date, then Tenant shall indemnify indemnify, defend and hold Landlord harmless from all any loss or liability which may accrue therefrom including, without limitation, including any claims made by any succeeding tenant founded on or resulting from Tenant's ’s failure to surrender. Acceptance by Landlord of any Minimum Annual RentalBase Rent, Percentage Rental Rent or Additional Rental other charges after the expiration or earlier termination of this Lease Expiration Date shall not constitute a consent to a holdover hereunder, constitute acceptance of Tenant as a tenant at will, hereunder or result in a renewal of this the Lease, and such occupancy by Tenant shall be deemed a month-to-month tenancy terminable by either party upon thirty (30) days’ Notice to the other.
Appears in 1 contract
Samples: Retail Lease (Yoshiharu Global Co.)
TERMINATION AND HOLDING OVER. This Lease shall terminate without further notice upon the expiration of the Term. Tenant shall have no right to extend or renew this Lease upon the expiration of the Term. Upon the expiration or earlier termination of the Term, Tenant shall peaceably and quietly surrender the Premises broom-clean and in the same condition (including, at Landlord's ’s option, the demolition and removal of any improvements Alterations made by Tenant to the Premises as part Premises, unless at the time Landlord gave its consent to such Alterations Landlord agreed in writing that Tenant would not have to demolish and remove such Alterations upon the termination of Tenant's Work or otherwisethis Lease) as the Premises were in upon delivery of possession of same to Tenant by Landlord, reasonable wear and tear and any damage to the Premises Which which Tenant is not required to repair pursuant to Article 17 14 or Article 15 excepted. Subject to the foregoing, Tenant shall remove from the Premises all of Tenant’s trade fixtures, furniture, equipment, signs, improvements, additions and Alterations to the extent such items are not permanently affixed to the Premises, and immediately repair any damage occasioned to the Premises by reason of such removal so as to leave the Premises in a neat and clean condition. If Tenant fails to remove any of its trade fixtures, furniture and other personal property upon expiration or the sooner termination of this Lease, Landlord may, at Landlord’s option after ten (10) days written notice to Tenant, in lieu of the provisions of California Civil Code §1980 et seq. (and any successor statutes) (i) retain all or any of such property, and title thereto shall thereupon automatically vest in Landlord, or (ii) Landlord may remove same from the Premises and dispose of all or any portion of such property, in which latter event Tenant shall, upon demand, pay to Landlord the actual expense of such removal and disposition together with the cost of repair of any and all damage to the Premises resulting from or caused by such removal. Tenant waives any and all rights it may have under California Civil Code §1980 et seq. and any successor statutes. Should Tenant hold over in the Premises beyond the expiration or earlier termination of this Lease, the holding over shall not constitute a renewal or extension of this Lease or give Tenant any rights under this Lease. In such event, Landlord may, in its sole discretion, treat Tenant as a tenant at will, subject to all of the terms and conditions in this Lease, except that Minimum Annual Rental Rent shall be an amount equal to the greater of one and one-half (a1-1/2) [***] times the sum of Minimum Annual Rental and Percentage Rental Rent which was payable by Tenant for the twelve (12) month period immediately preceding the expiration or earlier termination of this Lease, or (b) the then currently scheduled [***]. In the event Tenant fails to surrender the Premises upon the expiration or earlier termination of this Lease, Tenant shall indemnify and hold Landlord harmless from all loss or liability which may accrue therefrom including, without limitation, any claims made by any succeeding tenant founded on or resulting from Tenant's failure to surrender. Acceptance by Landlord of any Minimum Annual Rental, Percentage Rental or Additional Rental after the expiration or earlier termination of this Lease shall not constitute a consent to a holdover hereunder, constitute acceptance of Tenant as a tenant at will, or result in a renewal of this Lease.
Appears in 1 contract
TERMINATION AND HOLDING OVER. This Lease shall terminate without further notice upon the expiration of the Term. Tenant shall have no right to extend or renew this Lease upon the expiration of the Term. Upon the expiration or earlier termination of the Term, Tenant shall peaceably and quietly surrender the Premises broom-clean and in the same condition (including, at Landlord's option, the demolition and removal of any improvements Alterations made by Tenant to the Premises as part Premises, unless at the time Landlord gave its consent to such Alterations Landlord agreed in writing that Tenant would not have to demolish and remove such Alterations upon the termination of Tenant's Work or otherwisethis Lease) as the Premises were in upon delivery of possession of same to Tenant by Landlord, reasonable wear and tear and any damage to the Premises Which which Tenant is not required to repair pursuant to Article 17 15 or Article 16 excepted. Subject to the foregoing, Tenant shall remove from the Premises all of Tenant's trade fixtures, furniture, equipment, signs, improvements, additions and Alterations to the extent such items are not permanently affixed to the Premises, and immediately repair any damage occasioned to the Premises by reason of such removal so as to leave the Premises in a neat and clean condition. Should Tenant hold over in the Premises beyond the expiration or earlier termination of this Lease, the holding over shall not constitute a renewal or extension of this Lease or give Tenant any rights under this Lease. In such event, Landlord may, in its sole discretion, treat Tenant as a month-to-month tenant at will, subject to all of the terms and conditions in this Lease, except that Minimum Annual Rental Rent shall be an amount equal to the greater of one and one-half (a1-1/2) [***] times the sum of Minimum Annual Rental and Percentage Rental Rent which was payable by Tenant for the twelve (12) month period immediately preceding the expiration or earlier termination of this Lease, or (b) the then currently scheduled [***]. In the event Tenant fails to surrender the Premises upon the expiration or earlier termination of this Lease, Tenant shall indemnify and hold Landlord harmless from all loss or liability which may accrue therefrom including, without limitation, any claims made by any succeeding tenant founded on or resulting from Tenant's failure to surrender. Acceptance by Landlord of any Minimum Annual Rental, Percentage Rental or Additional Rental after the expiration or earlier termination of this Lease shall not constitute a consent to a holdover hereunder, constitute acceptance of Tenant as a tenant at will, or result in a renewal of this Lease.
Appears in 1 contract
Samples: Retail Lease (Arizona Furniture Co)
TERMINATION AND HOLDING OVER. This Lease shall terminate without further notice upon the expiration of the Term. Tenant shall have no right to extend or renew this Lease upon the expiration of the Term. Upon the expiration or earlier termination of the Term, Tenant shall peaceably and quietly surrender the Premises broom-clean and in the same condition (including, at Landlord's ’s option, the demolition and removal of any improvements Alterations made by Tenant to the Premises as part Premises, unless at the time Landlord gave its consent to such Alterations, Landlord agreed in writing that Tenant would not have to demolish and remove such Alterations upon the termination of Tenant's Work or otherwisethis Lease) as the Premises were in upon delivery of possession of same to Tenant by Landlord, reasonable wear and tear and any damage to the Premises Which which Tenant is not required to repair pursuant to Article 17 15 or Article 16 excepted. Tenant shall remove from the Premises all of Tenant’s trade fixtures, furniture, equipment, signs, improvements, additions and Alterations to the extent such items are not permanently affixed to the Premises, and immediately repair any damage occasioned to the Premises by reason of such removal so as to leave the Premises in a neat and clean condition. Should Tenant hold over in the Premises beyond the expiration or earlier termination of this Lease, the holding over shall not constitute a renewal or extension of this Lease or give Tenant any rights under this Lease. In such event, Landlord may, in its sole discretion, treat Tenant as a tenant at will, subject to all of the terms and conditions in this Lease, except that Minimum Annual Rental Rent shall be an amount equal to the greater of one hundred fifty percent (a150%) [***] times the sum of Minimum Annual Rental and Percentage Rental Rent which was payable by Tenant for the twelve (12) month period immediately preceding the expiration or earlier termination of this Lease, or (b) the then currently scheduled [***]. In the event Tenant fails to surrender the Premises upon the expiration or earlier termination of this Lease, Tenant shall indemnify and hold Landlord harmless from all loss or liability which may accrue therefrom including, without limitation, any claims made by any succeeding tenant founded on or resulting from Tenant's failure to surrender. Acceptance by Landlord of any Minimum Annual Rental, Percentage Rental or Additional Rental after the expiration or earlier termination of this Lease shall not constitute a consent to a holdover hereunder, constitute acceptance of Tenant as a tenant at will, or result in a renewal of this Lease.
Appears in 1 contract
Samples: Lease (Central Coast Bancorp)
TERMINATION AND HOLDING OVER. This Lease shall terminate without further notice upon the expiration of the Term. Tenant shall have no right to extend or renew this Lease upon the expiration of the Term. Upon the expiration or earlier termination of the Term, Tenant shall peaceably and quietly surrender the Premises broom-clean and in the same condition (including, at Landlord's option, the demolition and removal of any improvements made by Tenant to the Premises as part of Tenant's Work or otherwise) as the Premises were in upon delivery of possession of same to Tenant by Landlordon the Commencement Date, reasonable wear and tear and tear, any damage to the Premises Which which Tenant is not required to repair pursuant to Article 17 12, condemnation and Alterations not required to be removed pursuant to this Lease excepted. Tenant shall repair all damage to the Premises caused by Tenant's removal of Tenant's personal property, trade fixtures, equipment, Alterations and any Signage. Should Tenant hold over in the Premises beyond the expiration or earlier termination of this Lease, the holding over shall not constitute a renewal or extension of this Lease or give Tenant any rights under this Lease. In the event that the "Fair Market Rental Rate" (as defined in the Other Lease) is not determined under the Other Lease, due to no fault of Tenant, at least eight (8) months prior to the end of the New Lease Option Term and Tenant thereafter elects not to exercise the New Lease Renewal Term, then Monthly Rental shall remain at the rate determined pursuant to Section 4.2 of the Lease for the same number of days after the expiration of the New Lease Option Term as elapsed from and after the date which is eight (8) months prior to the last day of the New Lease Option Term until such Fair Market Rental Rate was determined. In such event, Landlord may, in its sole discretion, either (a) upon written notice to Tenant, treat Tenant as a month-to-month tenant at will, subject to all of the terms terms, covenants and conditions in this Lease, except that Minimum Annual Monthly Rental shall be an amount equal to one hundred twenty five percent (125%) of the greater of (a) [***] times the sum of Minimum Annual Rental and Percentage Monthly Rental which was payable by Tenant for the twelve (12) month period immediately preceding the expiration or earlier termination of this Lease, or (b) the then currently scheduled [***]. In the event Tenant fails proceed with an unlawful detainer action and pursue all other rights and remedies available to surrender the Premises upon the expiration or earlier termination of this Lease, Tenant shall indemnify and hold Landlord harmless from all loss or liability which may accrue therefrom including, without limitation, any claims made by any succeeding tenant founded on or resulting from Tenant's failure to surrenderLandlord. Acceptance by Landlord of any Minimum Annual Rental, Percentage Monthly Rental or Additional Rental after the expiration or earlier termination of this Lease shall not constitute a consent to a holdover hereunder, constitute acceptance of Tenant as a tenant at will, or result in a renewal of this Lease. Tenant shall not be liable to Landlord or any third party for consequential damages (such as lost profits) as a result of any holdover by Tenant.
Appears in 1 contract
TERMINATION AND HOLDING OVER. This Lease shall terminate without further notice upon the expiration of the Term. Tenant shall have no right to extend or renew this Lease upon the expiration of the Term. Upon the expiration or earlier termination of the Term, Tenant shall peaceably vacate and quietly surrender the Premises broom-clean in "broom clean" condition and in substantially the same condition (including, at Landlord's option, the demolition and removal of any improvements made by Tenant to the Premises as part of Tenant's Work or otherwise) as the Premises were in upon delivery of possession of same to Tenant by Landlordthe Commencement Date, reasonable wear and tear and any damage to the Premises Which which Tenant is not required to repair pursuant to Article 17 13 or Article 14 excepted. In no event shall Tenant be responsible for removing any cabling or wiring from the Premises and shall have the right to remove all trade fixtures used for business operation. Subject to the foregoing, Tenant shall remove from the Premises all of Tenant's trade fixtures, furniture, equipment, signs, improvements, additions and Alterations to the extent such items are not permanently affixed to the Premises, and immediately repair any damage occasioned to the Premises by reason of such removal so as to leave the Premises in the condition required by this Section 19.6. Should Tenant hold over in the Premises beyond the expiration or earlier termination of this Lease, the holding over shall not constitute a renewal or extension of this Lease or give Tenant any rights under this Lease. In such event, Landlord may, in its sole discretion, treat Tenant as a tenant at willsufferance, subject to all of the terms and conditions in this Lease, except that Minimum Annual Rental Landlord shall be an amount equal entitled to evict or dispossess Tenant without the greater necessity of (a) [***] times the sum of Minimum Annual Rental and Percentage Rental which was payable by Tenant for the twelve (12) month period immediately preceding the expiration or earlier termination of this Lease, or (b) the then currently scheduled [***]further notice. In the event Tenant fails to surrender the Premises upon the expiration or earlier termination of this LeaseHowever, Tenant shall indemnify pay, until such time as Tenant complies with this Section, in monthly installments in advance, on the first day of each and hold every month of such holding over, (i) one hundred fifty percent (150%) of the monthly installment of Base Rent payable during the last month of the Term; (ii) Tenant's share of Operating Costs, Taxes, and Insurance as calculated pursuant to this Lease; and (iii) all other Additional Rent due under this Lease. In addition to such monthly installments to be paid by Tenant during such holdover, Tenant shall also be liable to Landlord harmless for all damages (which Landlord suffers because of any holding over by Tenant), and Tenant hereby indemnifies Landlord against liability resulting from all loss or liability which may accrue therefrom includingsuch holdover, without limitation, including any claims made by any succeeding tenant or prospective tenant founded on or resulting from upon such holdover. The foregoing shall in no event be construed to permit such holding over without Landlord's consent. Tenant's failure to surrender. Acceptance by Landlord of any Minimum Annual Rental, Percentage Rental or Additional Rental after obligations under this Section shall survive the expiration date or earlier sooner termination of this Lease shall not constitute a consent to a holdover hereunder, constitute acceptance of Tenant as a tenant at will, or result in a renewal of this Lease.
Appears in 1 contract
Samples: Lease Agreement (Mitesco, Inc.)
TERMINATION AND HOLDING OVER. This Lease shall terminate without further notice upon the expiration of the Term. Tenant shall have no right to extend or renew this Lease upon the expiration of the Term. Upon the expiration or earlier termination of the Term, Tenant shall peaceably and quietly surrender the Premises broom-clean and in the same condition (including, at Landlord's option, the demolition and removal of any improvements made by Tenant to the Premises as part of Tenant's Work or otherwise) as the Premises were in upon delivery of possession of same to Tenant by Landlord, reasonable wear and tear and any damage to the Premises Which Tenant is not required to repair pursuant to Article 17 excepted. Should Tenant hold over in the Premises beyond the expiration or earlier termination of this Lease, the holding over shall not constitute a renewal or extension of this Lease or give Tenant any rights under this Lease. In such event, Landlord may, in its sole discretion, treat Tenant as a tenant at will, subject to all of the terms and conditions in this Lease, except that Minimum Annual Rental shall be an amount equal to the greater of (a) [***] times the sum of Minimum Annual Rental and Percentage Rental which was payable by Tenant for the twelve (12) month period immediately preceding the expiration or earlier termination of this Lease, or (b) the then currently scheduled [***]. In the event Tenant fails to surrender the Premises upon the expiration or earlier termination of this Lease, Tenant shall indemnify surrender to Landlord the Premises and hold all Tenant’s improvements and alterations in good, clean, orderly and undamaged condition, ordinary wear and tear excepted, and Tenant shall deliver to Landlord harmless from all loss keys to the Premises, remove all its personal property and make all necessary repairs. Landlord may elect to retain or liability which may accrue therefrom includingdispose of, without limitationin any manner, any alterations or personal property that Tenant does not remove form the Premises on expiration or termination of this Lease. Tenant waives all claims made by against Landlord for any succeeding tenant founded on or damage to Tenant resulting from Tenant's failure Landlord’s retention or disposition of any such alterations or personal property. Tenant shall be liable to surrenderLandlord for Landlord’s costs of storing, removing and/or disposing of any such alterations or personal property. Acceptance In the event of a holding over by Tenant after expiration or termination of this Lease without the consent in writing of Landlord, Tenant shall be deemed a tenant at sufferance and shall pay rent for such occupancy at the rate of one hundred twenty-five percent (125%) of the last current Base Rent and will continue to pay Additional Rent, prorated for the entire holdover period, plus all attorneys’ fees and expenses incurred by Landlord in enforcing its rights hereunder, plus any other damages occasioned by such holding over. Except as otherwise agreed, any holding over with the written consent of Landlord shall constitute Tenant a month-to-month tenant. In no event shall Tenant be liable to Landlord or any third party for any damages, costs or expenses of any Minimum Annual Rental, Percentage Rental or Additional Rental nature as a result of Tenant’s remaining in possession of the Premises after the expiration or earlier termination of this Lease shall not constitute a consent to a holdover hereunder, constitute acceptance the Term unless such retention of possession continues for thirty (30) business days after Tenant’s receipt of written notice from Landlord advising Tenant as a tenant at will, that it must vacate the Premises within thirty (30) business days of such notice or result in a renewal of this Leasebe liable for such damages.
Appears in 1 contract
TERMINATION AND HOLDING OVER. This Lease shall terminate without further notice upon the expiration of the Term. Tenant shall have no right to extend or renew this Lease upon the expiration of the Term. Upon the expiration or earlier termination of the Term, Tenant shall peaceably and quietly surrender the Premises broom-clean and in the same condition (including, at Landlord's option, the demolition and removal of any improvements Alterations made by Tenant to the Premises as part Premises, unless at the time Landlord gave its consent to such Alterations, Landlord agreed in writing that Tenant would not have to demolish and remove such Alterations upon the termination of Tenant's Work or otherwisethis Lease) as the Premises were in upon delivery of possession of same to Tenant by Landlord, reasonable wear and tear and any damage to the Premises Which which Tenant is not required to repair pursuant to Article 17 15 or Article 16 excepted. Tenant shall remove from the Premises all of Tenant's trade fixtures, furniture, equipment, signs, improvements, additions and Alterations to the extent such items are not permanently affixed to the Premises, and immediately repair any damage occasioned to the Premises by reason of such removal so as to leave the Premises in a neat and clean condition. Should Tenant hold over in the Premises beyond the expiration or earlier termination of this Lease, the holding over shall not constitute a renewal or extension of this Lease or give Tenant any rights under this Lease. In such event, Landlord may, in its sole discretion, treat Tenant as a tenant at will, subject to all of the terms and conditions in this Lease, except that Minimum Annual Rental Rent shall be an amount equal to the greater of one hundred fifty percent (a150%) [***] times the sum of Minimum Annual Rental and Percentage Rental Rent which was payable by Tenant for the twelve (12) month period immediately preceding the expiration or earlier termination of this Lease, or (b) the then currently scheduled [***]. In the event Tenant fails to surrender the Premises upon the expiration or earlier termination of this Lease, Tenant shall indemnify and hold Landlord harmless from all loss or liability which may accrue therefrom including, without limitation, any claims made by any succeeding tenant founded on or resulting from Tenant's failure to surrender. Acceptance by Landlord of any Minimum Annual Rental, Percentage Rental or Additional Rental after the expiration or earlier termination of this Lease shall not constitute a consent to a holdover hereunder, constitute acceptance of Tenant as a tenant at will, or result in a renewal of this Lease.
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Samples: Lease (Central Coast Bancorp)
TERMINATION AND HOLDING OVER. This Lease shall terminate without further notice Notice upon the expiration of the Term. Expiration Date and Tenant shall have no right to thereafter extend or renew this Lease Lease. Subject to the damage and reconstruction provisions of Article 13, Tenant shall upon the expiration of the Term. Upon the expiration or earlier sooner termination of the Term, Tenant shall peaceably and quietly this Lease surrender the Premises broom-Property to Landlord in good and clean and in the same condition (includingcondition, at Landlord's option, the demolition and removal of any improvements made by Tenant to the Premises as part of Tenant's Work or otherwise) as the Premises were in upon delivery of possession of same to Tenant by Landlord, reasonable ordinary wear and tear and excepted, including any damage to buildings, structures, improvements or additions then located on the Premises Which Tenant is not required to repair pursuant to Article 17 exceptedProperty which are, during the Term of this Lease, owned in fee by Tenant. Should Tenant hold over in the Premises beyond the expiration or earlier termination of this LeaseExpiration Date, the holding over shall not constitute a renewal or extension of this Lease or give Tenant any rights under this Lease. In such event, Landlord may, in its sole discretion, treat Tenant as a tenant at will, subject to all of the terms and conditions in this Lease, except that Minimum Annual Rental Percentage Rent shall be an amount equal to the greater of (a) [***] 1-1/2 times the sum of Minimum Annual Rental and Percentage Rental which was Rent payable by Tenant for the twelve (12) -month period immediately preceding the expiration or earlier termination of this Lease, or (b) the then currently scheduled [***]Rent for comparable space, as the same is reasonably determined in Landlord’s sole business judgment. In As long as the event parties are in good faith negotiating a renewal or extension of the Lease, the foregoing increase in Percentage Rent shall not take effect until 60 days after the Expiration Date. If Tenant fails to surrender the Premises upon the expiration or earlier termination of this LeaseExpiration Date, then Tenant shall indemnify indemnify, defend and hold Landlord harmless from all any loss or liability which may accrue therefrom including, without limitation, including any claims made by any succeeding tenant founded on or resulting from Tenant's ’s failure to surrender. Acceptance by Landlord of any Minimum Annual Rental, Percentage Rental Rent or Additional Rental other charges after the expiration or earlier termination of this Lease Expiration Date shall not constitute a consent to a holdover hereunder, constitute acceptance of Tenant as a tenant at will, or result in a renewal of this the Lease.
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TERMINATION AND HOLDING OVER. This (a) Upon termination of this Sublease for any reason, Subtenant shall immediately deliver to Tenant possession of the Subleased Premises in the same condition as delivered to Subtenant, ordinary wear and tear excepted.
(b) In the event that Subtenant shall not immediately surrender the Subleased Premises upon expiration of the Term, Subtenant shall, by virtue of this section of this Sublease, become a Subtenant by the month and hereby agrees to pay to Tenant rent equal to one hundred twenty five percent (125%) the amount of the Total Monthly Rent in effect during the last month of the Term. The month-to-month tenancy shall otherwise be subject to all terms, conditions and provisions of this Sublease and the Lease and shall terminate without further notice upon commence with the first day next after the expiration of the Term. Tenant shall have no right to extend or renew this Lease upon the expiration of the Term. Upon the expiration or earlier termination of the Term, Tenant shall peaceably and quietly surrender the Premises broom-clean and in the same condition (including, at Landlord's option, the demolition and removal of any improvements made by Tenant to the Premises as part of Tenant's Work or otherwise) as the Premises were in upon delivery of possession of same to Tenant by Landlord, reasonable wear and tear and any damage to the Premises Which Tenant is not required to repair pursuant to Article 17 excepted. Should Tenant hold over in the Premises beyond the expiration or earlier termination Term of this Lease, the holding over shall not constitute a renewal or extension of this Lease or give Tenant any rights under this LeaseSublease. In such event, Landlord may, in its sole discretion, treat Tenant Subtenant as a month- to-month tenant at will, shall continue to be subject to all of the terms conditions and conditions in this Lease, except that Minimum Annual Rental shall be an amount equal to the greater of (a) [***] times the sum of Minimum Annual Rental and Percentage Rental which was payable by Tenant for the twelve (12) month period immediately preceding the expiration or earlier termination covenants of this Lease, or Sublease. Subtenant shall give to Tenant at least thirty (b30) days' prior written notice of any intention to quit the then currently scheduled [***]. Subleased Premises.
(c) In the event Tenant fails to surrender the Premises upon the expiration or earlier termination of this Lease, Tenant that Subtenant shall indemnify and hold Landlord harmless from all loss or liability which may accrue therefrom including, without limitation, any claims made by any succeeding tenant founded on or resulting from Tenant's failure to surrender. Acceptance by Landlord of any Minimum Annual Rental, Percentage Rental or Additional Rental over after the expiration or earlier termination of the term of the Lease (it being understood and agreed to by Subtenant that it has no right to hold over after the expiration of the term of the Lease) and/or if Tenant shall desire to regain possession of the Subleased Premises promptly at the expiration of the term of this Lease shall not constitute Sublease then, at any time prior to Tenant's acceptance of modified Total Monthly Rent from Subtenant as a consent to a holdover month-to- month tenant hereunder, constitute acceptance of Tenant as a tenant Tenant, at willits option, or result in a renewal of this Leasemay exercise its options under paragraph 13 hereof.
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Samples: Sublease (Criimi Mae Inc)
TERMINATION AND HOLDING OVER. This Lease shall terminate without further notice upon the expiration of the Term. Tenant shall have no right to extend or renew this Lease upon the expiration of the Term. Upon the expiration or earlier termination of the Term, Tenant shall peaceably and quietly surrender the Premises broom-clean and in the same condition (including, at Landlord's option, the demolition and removal of any improvements made by Tenant to the Premises as part of Tenant's Work or otherwise) as the Premises were in upon delivery of possession of same to Tenant by Landlordon the Commencement Date, reasonable wear and tear and any damage to the Premises Which which Tenant is not required to repair pursuant to Article 17 this Lease excepted. Should Tenant hold over in the Premises beyond the expiration or earlier termination of this Lease, the holding over shall not constitute a renewal or extension of this Lease or give Tenant any rights under this Lease. In such event, Landlord may, in its sole discretion, either (i) upon written notice to Tenant, treat Tenant as a month-to-month tenant at will, subject to all of the terms terms, covenants and conditions in this Lease, except that Minimum Annual Monthly Rental shall be an amount equal to the greater of one and one-half (a1-1/2) [***] times the sum of Minimum Annual Rental and Percentage Monthly Rental which was payable by Tenant for the twelve (12) month period immediately preceding the expiration or earlier termination of this Lease, or (bii) the then currently scheduled [***]proceed with an unlawful detainer action and pursue all other rights and remedies available to Landlord. In the event If Tenant fails to surrender the Premises upon the expiration or earlier termination of this Lease, Tenant shall indemnify indemnify, defend (with counsel reasonably acceptable to Landlord) and hold harmless Landlord harmless from and against, all loss or liability Claims which may accrue therefrom including, without limitationbut not limited to, any claims made by any succeeding tenant or purchaser of the Premises founded on or resulting from Tenant's failure to surrender. Acceptance by Landlord of any Minimum Annual Rental, Percentage Rental or Additional Rental Rent after the expiration or earlier termination of this Lease shall not constitute a consent to a holdover hereunder, constitute acceptance of Tenant as a tenant at will, or result in a renewal of this Lease.
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Samples: Lease Agreement (Flashcom Inc)
TERMINATION AND HOLDING OVER. This Lease shall terminate without further notice upon the expiration of the Term. Tenant shall have no right to extend or renew this Lease upon the expiration of the Term. Upon the expiration or earlier termination of the Term, Tenant shall peaceably and quietly surrender the Premises broom-clean and in the same condition (including, at Landlord's option, the demolition and removal of any improvements made by Tenant to the Premises as part of Tenant's Work or otherwise) as the Premises were in upon delivery of possession of same to Tenant by Landlord, reasonable wear and tear and any damage to the Premises Which which Tenant is not required to repair pursuant to Article 17 excepted. Should Tenant hold over in the Premises beyond the expiration or earlier termination of this Lease, the holding over shall not constitute a renewal or extension of this Lease or give Tenant any rights under this Lease. In such event, Landlord may, in its sole discretion, treat Tenant as a tenant at will, subject to all of the terms and conditions in this Lease, except that Minimum Annual Rental shall be an amount equal to the greater of (a) [***] one and one-half (1-1/2) times the sum of Minimum Annual Rental and Percentage Rental which was payable by Tenant for the twelve (12) month period immediately preceding the expiration or earlier termination of this Lease, or (b) the then currently scheduled [***]rental for comparable space in the Shopping Center, as the same is reasonably determined in Landlord's sole business judgment. In the event Tenant fails to surrender the Premises upon the expiration or earlier termination of this Lease, Tenant shall indemnify and hold Landlord harmless from all loss or liability which may accrue therefrom including, without limitation, any claims made by any succeeding tenant founded on or resulting from Tenant's failure to surrender. Acceptance by Landlord of any Minimum Annual Rental, Percentage Rental or Additional Rental after the expiration or earlier termination of this Lease shall not constitute a consent to a holdover hereunder, constitute acceptance of Tenant as a tenant at will, or result in a renewal of this Lease.
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