Early Surrender Clause Samples

The Early Surrender clause allows a party, typically a tenant or lessee, to terminate an agreement before the originally agreed-upon end date. In practice, this clause outlines the conditions under which early termination is permitted, such as providing advance notice or paying a specified fee, and may detail any obligations that must be fulfilled before surrender is accepted. Its core function is to provide flexibility for parties who may need to exit a contract prematurely, while also protecting the other party from unexpected losses or disruptions.
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Early Surrender. Notwithstanding anything to the contrary in this Sixth Modification Agreement or the Lease, in the event Tenant surrenders the Third Additional Premises to Landlord in the Third Additional Premises Delivery Condition prior to the Third Additional Premises Expiration Date (the “Early Third Additional Premises Surrender Date”), the Third Additional Premises Expiration Date shall be amended to the Early Third Additional Premises Surrender Date, provided that in no event shall the Third Additional Premises Expiration Date occur prior to March 31, 2024.
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Early Surrender. You may surrender the unused portion of your License Term at any time by completing the appropriate University form and paying $1,500 (the “Surrender Fee”). Exercising your surrender rights does not excuse you from your obligation to pay Fees which accrue through the date on which you check-out from your Unit (including without limitation room fees prorated daily through the date of your check-out).
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Early Surrender. Notwithstanding any provision to the contrary contained in the Lease, as amended hereby, Landlord and Tenant hereby acknowledge and agree that, on or before August 31, 2019 (notwithstanding that such date occurs prior to the New Expiration Date, the "Surrender Date"), Tenant shall vacate and surrender and deliver possession of the Premises to Landlord in the condition described in Section 3 below. In the event Tenant does not timely vacate and surrender possession of the Premises on or before the Surrender Date in accordance with the terms hereof, then the terms and conditions of Article 16 of the Original Lease shall apply with respect thereto, provided, however, the Tenant indemnification obligations set forth in Article 16 of the Original Lease shall not be applicable during the first thirty (30) days following the Surrender Date. Accordingly, subject to the terms and conditions of this Section 2, during the period (the "Surrender Period") commencing on the day immediately following the Surrender Date and continuing through the New Expiration Date, the Lease, as amended hereby, shall remain in full force and effect; except that, (i) Tenant shall have surrendered the Premises and delivered possession of the Premises to Landlord in accordance with this Section 2 above as though the New Expiration Date had occurred on the Surrender Date, (ii) Tenant, its agents and representatives shall have no right to access, occupy, use and/or enter upon the Premises during the Surrender Period, and Tenant shall have no further responsibility, obligation or liability of any kind or nature whatsoever for the Premises, the condition thereof, the maintenance or repair thereof, or any act, occurrence or accident occurring on or about the Premises or emitting therefrom, (iii) in consideration for Landlord entering into this Fourth Amendment and providing for the early termination of the Lease, and notwithstanding Tenant's surrender of the Premises, the occupancy thereof by the New Tenant and/or the existence of the New Lease, Tenant shall remain liable for the payment of Base Rent and Tenant's Share of Direct Expenses as provided for in Section 4.1 below, but Tenant shall have no obligation for the payment of any other Rent or amounts owing under the Lease during the Surrender Period, including, without limitation, any after-hours HVAC charges or electricity costs, but Tenant shall continue to be responsible for late charges and interest on any late payment of Base Rent or T...
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Early Surrender. Tenant shall have the right to surrender possession of the Portion of the Third Floor, the Additional Floor, or any entire floor within the Remainder which such entire floor shall be deemed the “Portion of the Leased Premises” for purposes of this Section 2.6, prior to the Lease Expiration Date applicable to such specified Portion of the Leased Premises by delivering written notice (“Surrender Notice”) to Landlord, specifying the surrendered Portion of the Leased Premises and the effective date of such surrender, no less than twenty (20) days prior to surrendering possession of such specified Portion of the Leased Premises to Landlord. If Tenant surrenders possession of a specified Portion of the Leased Premises prior to its applicable Lease Expiration Date in accordance with this Section, Tenant shall perform all obligations under Section 2.6(b) by the date set forth in its Surrender Notice.
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Related to Early Surrender

  • No Surrender No act or conduct of Landlord, whether consisting of the acceptance of the keys to the Premises, or otherwise, shall be deemed to be or constitute an acceptance of the surrender of the Premises by Tenant prior to the expiration of the Term, and such acceptance by Landlord of surrender by Tenant shall only flow from and must be evidenced by a written acknowledgment of acceptance of surrender signed by Landlord. The surrender of this Lease by Tenant, voluntarily or otherwise, shall not work a merger unless Landlord elects in writing that such merger take place, but shall operate as an assignment to Landlord of any and all existing subleases, or Landlord may, at its option, elect in writing to treat such surrender as a merger terminating Tenant's estate under this Lease, and thereupon Landlord may terminate any or all such subleases by notifying the sublessee of its election so to do within five (5) days after such surrender.

  • Surrender Upon the expiration or earlier termination of this Lease for any reason, Tenant shall surrender the Premises to Landlord in its condition existing as of the date Landlord delivers possession of the Premises to Tenant, normal wear and tear and damage by fire or other casualty excepted, with all interior walls repaired and repainted if marked or damaged, all carpets shampooed and cleaned, all broken, marred or nonconforming acoustical ceiling tiles replaced, all windows washed, the plumbing and electrical systems and lighting in good order and repair, including replacement of any burned out or broken light bulbs or ballasts, the HVAC equipment serviced and repaired by a reputable and licensed service firm acceptable to Landlord, and all floors cleaned and waxed, all to the reasonable satisfaction of Landlord. Tenant shall remove from the Premises and the Project all of Tenant's trade fixtures, furniture, moveable equipment and other personal property, and any Alterations which Landlord elects to be removed pursuant to Section 5.3, and shall restore the Premises to its condition prior to their installation, including, without limitation, repairing all damage caused by the installation or removal of any of the foregoing items. If Tenant does not timely remove such property, then Tenant shall be conclusively presumed to have, at Landlord's election: (a) conveyed such property to Landlord without compensation or (b) abandoned such property, and Landlord may dispose of or store any part thereof in any manner at Tenant's sole cost, without waiving Landlord's right to claim from Tenant all expenses arising out of Tenant's failure to remove the property, and without liability to Tenant or any other person. Landlord shall have no duty to be a bailee of any such personal property. If Landlord elects to consider such property abandoned, Tenant shall be liable to Landlord for the costs of: (i) removal of any such Alterations or personal property, (ii) storage, transportation, and disposition of the same, and (iii) repair and restoration of the Premises, together with interest thereon at the Interest Rate from the date of expenditure by Landlord.

  • Deliver; Surrender (a) The term “deliver”, or its noun form, when used with respect to Shares or other Deposited Securities, shall mean (i) book-entry transfer of those Shares or other Deposited Securities to an account maintained by an institution authorized under applicable law to effect transfers of such securities designated by the person entitled to that delivery or (ii) physical transfer of certificates evidencing those Shares or other Deposited Securities registered in the name of, or duly endorsed or accompanied by proper instruments of transfer to, the person entitled to that delivery. (b) The term “deliver”, or its noun form, when used with respect to American Depositary Shares, shall mean (i) book-entry transfer of American Depositary Shares to an account at DTC designated by the person entitled to such delivery, evidencing American Depositary Shares registered in the name requested by that person, (ii) registration of American Depositary Shares not evidenced by a Receipt on the books of the Depositary in the name requested by the person entitled to such delivery and mailing to that person of a statement confirming that registration or (iii) if requested by the person entitled to such delivery, delivery at the Corporate Trust Office of the Depositary to the person entitled to such delivery of one or more Receipts. (c) The term “surrender”, when used with respect to American Depositary Shares, shall mean (i) one or more book-entry transfers of American Depositary Shares to the DTC account of the Depositary, (ii) delivery to the Depositary at its Corporate Trust Office of an instruction to surrender American Depositary Shares not evidenced by a Receipt or (iii) surrender to the Depositary at its Corporate Trust Office of one or more Receipts evidencing American Depositary Shares.

  • License Surrender Following the effective date of this decision, if Applicant ceases 20 practicing due to retirement, health reasons or is otherwise unable to satisfy the terms and conditions of 21 probation, Applicant may voluntarily tender his license to the board. The board reserves the right to 22 evaluate the Applicant's request and to exercise its discretion whether to grant the request, or to take any 23 other action deemed appropriate and reasonable under the circumstances. Upon formal acceptance of 24 the tendered license, Applicant will no longer be subject to the terms and conditions of probation.

  • Surrender and Payment (a) Prior to the Effective Time, Parent shall appoint a bank, trust company or nationally recognized stockholder services provider or such other Person reasonably acceptable to the Company as the exchange agent (the “Exchange Agent”) for the purpose of exchanging Certificates and Book-Entry Shares representing shares of Company Common Stock. Parent will make available to the Exchange Agent, as needed, the Merger Consideration to be delivered in respect of the shares of Company Common Stock. Promptly after the Effective Time, Parent will send, or will cause the Exchange Agent to send, to each holder of record of shares of Company Common Stock as of the Effective Time, a letter of transmittal for use in such exchange (which shall specify that the delivery shall be effected, and risk of loss and title shall pass, only upon proper delivery of the Certificates to the Exchange Agent) in such form as the Company and Parent may reasonably agree, for use in effecting delivery of shares of Company Common Stock to the Exchange Agent. Exchange of any Book-Entry Shares shall be effected in accordance with Parent’s customary procedures with respect to securities represented by book entry. (b) Each holder of shares of Company Common Stock that have been converted into a right to receive the Merger Consideration, upon surrender to the Exchange Agent of a Certificate or Book-Entry Share, together with a properly completed letter of transmittal, will be entitled to receive (A) one or more shares of Parent Common Stock (which shall be in non-certificated book-entry form unless a physical certificate is requested) representing, in the aggregate, the whole number of shares of Parent Common Stock, if any, that such holder has the right to receive pursuant to Section 1.4 and (B) a check in the amount equal to the cash portion of the Merger Consideration that such holder has the right to receive pursuant to Section 1.4 and this Article II, including cash payable in lieu of fractional shares pursuant to Section 2.2 and dividends and other distributions pursuant to Section 2.1(f). No interest shall be paid or accrued on any Merger Consideration, cash in lieu of fractional shares or unpaid dividends and distributions payable to holders of Certificates or Book-Entry Shares. Until so surrendered, each such Certificate or Book-Entry Share shall, after the Effective Time, represent for all purposes only the right to receive such Merger Consideration. (c) If any portion of the Merger Consideration is to be registered in the name of a Person other than the Person in whose name the applicable surrendered Certificate is registered, it shall be a condition to the registration thereof that the surrendered Certificate shall be properly endorsed or otherwise be in proper form for transfer and that the Person requesting such delivery of the Merger Consideration shall pay to the Exchange Agent any transfer or other similar Taxes required as a result of such registration in the name of a Person other than the registered holder of such Certificate or establish to the satisfaction of the Exchange Agent that such Tax has been paid or is not payable. Delivery of the aggregate Merger Consideration, as applicable, with respect to Book-Entry Shares shall only be made to the Person in whose name such Book-Entry Shares are registered. For purposes of this Agreement, “Person” means an individual, a corporation, a limited liability company, a partnership, an association, a trust or any other entity or organization, including a government or political subdivision or any agency or instrumentality thereof.