Common use of Possession on Termination Clause in Contracts

Possession on Termination. Tenant agrees to yield possession of the Land at the termination of the Lease. Tenant further agrees to pay, as liquidated damages for failure to vacate, the sum of double the per diem Rent per day for every day after the date of the termination of this Lease that occupancy is withheld.

Appears in 2 contracts

Sources: Agricultural Lease Agreement, Agricultural Lease (Alico Inc)