Relocation/Surrender of Premises Clause Samples

Relocation/Surrender of Premises. 1. Notwithstanding any other provision of this Agreement, the Aviation Authority shall have the right at any time during the Term of this Agreement to require Company to surrender any portion of the Premises in order to accommodate a change in the design or use of the South Terminal Complex. In such event, the Aviation Authority shall, in its sole discretion, either: a. provide Company with a substitute area which the Chief Executive Officer determines to be reasonably equivalent, though not necessarily identical in size or otherwise, to the portion of the Premises surrendered; or, ▇. ▇▇▇▇▇ Company an equitable reduction in the Annual Rental Fee Portion of the Minimum Annual Concession Fee payable by Company to the Aviation Authority hereunder; provided, however, that the Aviation Authority shall not be required to grant Company a reduction in the Annual Rental Fee Portion of the Minimum Annual Concession Fee or provide it with a substitute area where the of the Premises required to be surrendered is less than ten percent (10%) of the total square feet originally included in the Premises; or, c. provide Company with a substitute area in lieu of a portion of the Premises surrendered and grant it an equitable reduction in the Annual Rental Fee Portion of the Minimum Annual Concession Fee (subject to the ten percent (10%) limitation described above) payable by Company to the Aviation Authority hereunder as compensation for the remainder of the Premises surrendered. 2. The Aviation Authority shall in no event be liable to the Company for any inconvenience or loss of business as a result of the Company being required to move or surrender any portion of the Premises. If the portion of the Premises required to be surrendered by Company is more than ten percent (10%) of the approximate square feet of space originally included in the Premises, and the Company is required, under the terms of this Article 2.D. to move or surrender a portion of its operation, all costs of the physical move shall be borne by the Aviation Authority and, at the option of the Chief Executive Officer, either: a. the substitute area that is provided to the Company in lieu of the portion of the Premises surrendered will be built out by the Aviation Authority at its own expense (or, at the option of the Chief Executive Officer, by the Company at the Aviation Authority's expense) so that such substitute area will be reasonably equivalent in quality to the portion of the Premises surrendered, p...
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Relocation/Surrender of Premises. 1. Notwithstanding any other provision of this Agreement, the Aviation Authority shall have the right at any time during the Term of this Agreement to require Company to surrender any portion of the Premises in order to accommodate a change in the design or use of the Terminal Complex. In such event, the Aviation Authority shall, in its sole discretion, either: a. provide Company with a substitute area which the Chief Executive Officer determines to be reasonably equivalent, though not necessarily identical in size or otherwise, to the portion of the Premises surrendered; or; b. terminate the Agreement in which event both parties shall be released from any further obligation under the Agreement except for indemnification requirements. 2. The Aviation Authority shall in no event be liable to the Company for any inconvenience or loss of business as a result of the Company being required to move or surrender any portion of the Premises. If Company is required, under the terms of this Article 2.D. to move a portion of its operation, all costs of the physical move shall be borne by the Aviation Authority.
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Related to Relocation/Surrender of Premises

  • Surrender of Premises No act or thing done by Landlord or any agent or employee of Landlord during the Lease Term shall be deemed to constitute an acceptance by Landlord of a surrender of the Premises unless such intent is specifically acknowledged in writing by Landlord. The delivery of keys to the Premises to Landlord or any agent or employee of Landlord shall not constitute a surrender of the Premises or effect a termination of this Lease, whether or not the keys are thereafter retained by Landlord, and notwithstanding such delivery Tenant shall be entitled to the return of such keys at any reasonable time upon request until this Lease shall have been properly terminated. The voluntary or other surrender of this Lease by Tenant, whether accepted by Landlord or not, or a mutual termination hereof, shall not work a merger, and at the option of Landlord shall operate as an assignment to Landlord of all subleases or subtenancies affecting the Premises or terminate any or all such sublessees or subtenancies.

  • RELOCATION OF PREMISES Landlord shall have the right to relocate the Premises to another part of the Building in accordance with the following: a. The new premises shall be substantially the same in size, dimensions, configuration, decor and nature as the Premises described in this Lease, and if the relocation occurs after the Commencement Date, shall be placed in that condition by Landlord at its cost. b. Landlord shall give Tenant at least thirty (30) days written notice of ▇▇▇▇▇▇▇▇'s intention to relocate the Premises. c. As nearly as practicable, the physical relocation of the Premises shall take place on a weekend and shall be completed before the following Monday. If the physical relocation has not been completed in that time, Base Rent shall ▇▇▇▇▇ in full from the time the physical relocation commences to the time it is completed. Upon completion of such relocation, the new premises shall become the "Premises" under this Lease. d. All reasonable costs incurred by Tenant as a result of the relocation shall be paid by Landlord. e. If the new premises are smaller than the Premises as it existed before the relocation, Base Rent shall be reduced proportionately. f. The parties hereto shall immediately execute an amendment to this Lease setting forth the relocation of the Premises and the reduction of Base Rent, if any.

  • Vacation of Premises Tenant shall vacate the Premises at the end of the Term. If Tenant fails to vacate at such time there shall be payable to Landlord an amount equal to one hundred fifty percent (150%) of the monthly Base Rent stated in Section 1.1.8 paid immediately prior to the holding over period for each month or part of a month that Tenant holds over, plus all other payments provided for herein, and the payment and acceptance of such payments shall not constitute an extension or renewal of this Lease. In event of any such holdover, Landlord shall also be entitled to all remedies provided by law for the speedy eviction of tenants, and to the payment of all attorneys' fees and expenses incurred in connection therewith.

  • SURRENDER OF PREMISES; HOLDING OVER Upon the expiration of the Term of this Lease including any extension periods, Tenant shall surrender to Landlord the Premises and all Tenant Improvements and/or alterations in good condition, except for (i) ordinary wear and tear, (ii) the effects of casualty or condemnation (except as provided hereunder), (iii) Hazardous Materials that are not the responsibility of Tenant hereunder, and (iv) alterations Tenant has the right or is obligated to remove under the provisions of Paragraph 14 herein; provided, however, Tenant acknowledges and agrees that Tenant shall be required, at its sole cost and expense, to remove all of Tenant’s Work (with the exception of the Non-Removal Items defined below) from the Premises if requested by ▇▇▇▇▇▇▇▇ in its sole and absolute discretion. Subject to Paragraph 14, Tenant shall perform all restoration made necessary by the removal of any alterations or Tenant’s personal property before the expiration of the Term, including, for example, restoring all wall surfaces to their condition prior to the commencement of this Lease. Landlord may elect to retain or dispose of in any manner Tenant’s personal property not removed from the Premises by Tenant prior to the expiration of the Term. Tenant waives all claims against Landlord for any damage to Tenant resulting from ▇▇▇▇▇▇▇▇’s retention or disposition of ▇▇▇▇▇▇’s personal property. Tenant shall be liable to Landlord for Landlord’s costs for storage, removal or disposal of Tenant’s personal property. Notwithstanding anything to the contrary contained in this Lease, any trade fixtures, cranes and other operations related equipment or conveyances installed by Tenant (whether bolted to the floor, attached to process piping or attached by venting, ducting or other similar appurtenances to the Building) shall at all times be and remain the sole property of Tenant and Tenant can remove such equipment from the Premises at any time so long as Tenant repairs alt damage to the Premises caused by such removal to Landlord’s reasonable satisfaction. For purposes of this Paragraph above, the term “Non-Removal Items” shall be deemed to mean the following portions of Tenant’s Work: Roof Replacement Work, Immediate Occupancy/Seismic Work, Transformer Work and HVAC Chiller Replacement Work. If ▇▇▇▇▇▇, with ▇▇▇▇▇▇▇▇’s consent, remains in possession of the Premises after expiration or termination of the Term, or after the date in any notice given by Landlord to Tenant terminating this Lease, such possession by Tenant shall be deemed to be a month-to-month tenancy terminable on written thirty (30) day notice at any time, by either party. All provisions of this Lease, except those pertaining to Term and rent, shall apply to the month-to-month tenancy. During such month-to-month tenancy, Tenant shall pay monthly rent in an amount equal to 150% of Basic Rent for the last full calendar month during the immediately preceding Term plus 100% of additional rent as provided in Paragraph 11 (Taxes), Paragraph 13 (Maintenance), Paragraph 16 (Insurance), subject to increase as provided therein. Any such holdover rent shall be paid on a per month basis without reduction for partial months during the holdover. Acceptance by Landlord of rent after such expiration or earlier termination shall not constitute consent to a hold over hereunder or result in an extension of this Lease. This paragraph shall not be construed to create any express or implied right to holdover beyond the expiration of the Term or any extension thereof. If ▇▇▇▇▇▇ fails to surrender the Premises after expiration or termination of the Term, Tenant shall indemnify, defend and hold harmless Landlord from all reasonably foreseeable loss or liability, including, without limitation, any loss or liability resulting from any claim against Landlord made by any succeeding tenant founded on or resulting from ▇▇▇▇▇▇’s failure to surrender and losses to Landlord due to lost opportunities to lease any portion of the Premises to succeeding tenants, together with, in each case, actual attorneys’ fees and costs.

  • Inspection of Premises Landlord and Landlord's agents shall have the right at all reasonable times during the term of this Agreement and any renewal thereof to enter the Premises for the purpose of inspecting the Premises and all buildings and improvements thereon. And for the purposes of making any repairs, additions or alterations as may be deemed appropriate by Landlord for the preservation of the Premises or the building. Landlord and its agents shall further have the right to exhibit the Premises and to display the usual "for sale", "for rent" or "vacancy" signs on the Premises at any time within forty-five (45) days before the expiration of this Lease. The right of entry shall likewise exist for the purpose of removing placards, signs, fixtures, alterations or additions, that do not conform to this Agreement or to any restrictions, rules or regulations affecting the Premises.