Common use of EFFECT OF HOLDING OVER Clause in Contracts

EFFECT OF HOLDING OVER. If Lessee remains in possession of all or any part off the Demised Premises after the expiration of the Demised Term, with the express or implied consent of Lessor, such tenancy shall be month-to-month only and shall not constitute a renewal or extension for any further term. If Lessor remains in possession either with or without Lessor's consent, Monthly Rent shall be increased to an amount equal to One Hundred Twenty-Five (125%) percent of the Monthly Rent payable during the last month of the Demised Term, and any other sums due under this Lease shall be payable in the amount and at the times specified in this Lease. Such month-to-month tenancy shall be subject to every other term, condition, and covenant contained herein. If Lessee remains in possession without Lessor's consent, Lessee shall indemnify, defend and hold Lessor harmless from all claims, costs and liabilities including attorneys' fees and costs, arising from or in connection with Lessee remaining in possession.

Appears in 1 contract

Sources: Lease Agreement (Sports Resorts International Inc)

EFFECT OF HOLDING OVER. If Lessee remains in possession of all or any part off of the Demised Premises after the expiration of the Demised Term, with the express or implied consent of Lessor, such tenancy shall be month-to-month only and shall not constitute a renewal or extension for any further term. If Lessor remains in possession either with or without Lessor's consent, Monthly Rent shall be increased to an amount equal to One Hundred Twenty-Five (125%) percent of the Monthly Rent payable during the last month of the Demised Term, and any other sums due under this Lease shall be payable in the amount and at the times specified in this Lease. Such month-to-month tenancy shall be subject to every other term, condition, and covenant contained herein. If Lessee remains in possession without Lessor's consent, Lessee shall indemnify, defend and hold Lessor harmless from all claims, costs and liabilities including attorneys' fees and costs, arising from or in connection with Lessee remaining in possession.

Appears in 1 contract

Sources: Lease (Colonels International Inc)