Common use of SURRENDER OF LEASE Clause in Contracts

SURRENDER OF LEASE. The voluntary or other surrender of this Lease by Tenant, or a mutual cancellation thereof, shall not automatically effect a merger of the Lease with Landlord's ownership of the Premises. Instead, at the option of Landlord, Tenant's surrender may terminate all or any existing sublease or subtenants, or may operate as an assignment to Landlord of any or all such subleases or subtenants, or may operate as an assignment to Landlord of any or all such subleases or subtenants thereby creating a direct relationship between Landlord and any subtenants.

SURRENDER OF LEASE. The voluntary or other surrender of this Lease by Tenant, or a mutual cancellation thereof, shall not automatically effect a merger of the Lease with Landlord's ’s ownership of the Building or Premises. Instead, at the option of Landlord, Tenant's ’s surrender may terminate all or any existing sublease or subtenantssubtenancies, or may operate as an assignment to Landlord of any or all such subleases or subtenantssubtenancies, or may operate as an assignment to Landlord of any or all such subleases or subtenants thereby creating a direct Landlord-Tenant relationship between Landlord and any subtenants.

SURRENDER OF LEASE. The voluntary or other surrender of this Lease by Tenant, Tenant or a mutual cancellation thereof, shall not automatically effect a merger of the Lease with Landlord's ’s ownership of the Building and Premises. Instead, at the option of Landlord, Tenant's ’s surrender may terminate all or any existing sublease or subtenantssubtenancies, or may operate as an assignment to Landlord of any or all such subleases or subtenantssubtenancies, or may operate as an assignment to Landlord of any or all such subleases or subtenants thereby creating a direct Landlord-Tenant relationship between Landlord and any subtenants.

SURRENDER OF LEASE. The voluntary or other surrender of this Lease by Tenant, or a mutual cancellation thereof, shall not automatically effect a merger of the Lease with Landlord's ’s ownership of the Premises. Instead, at the option of Landlord, Tenant's ’s surrender may terminate all or any existing sublease or subtenantssubtenancies, or may operate as an assignment to Landlord of any or all such subleases or subtenantssubtenancies, or may operate as an assignment to Landlord of any or all such subleases or subtenants thereby creating a direct Landlord-Tenant relationship between Landlord and any subtenants.