Common use of Surrender of Premises and Holding Over Clause in Contracts

Surrender of Premises and Holding Over. If Tenant shall remain in possession of the Leased Premises without extension after the expiration of the Lease Term, Tenant shall hold as a tenant at sufferance, at a charge for use and occupancy, and not as rent, of the Leased Premises (x) with respect to any holdover period up to sixty (60) days after the Expiration Date, equal to one hundred and fifty percent (150%) of the highest monthly installment of Base Rent applicable during the Lease Term plus all Additional Rent during such period of time; and (y) with respect to any holdover period after such initial sixty (60) day period, equal to two hundred percent (200%) of the highest monthly installment of Base Rent applicable during the Lease Term plus all Additional Rent during such period of time. In all other respects Landlord and Tenant shall be subject to the terms, provisions and conditions of this Lease, provided in the event such holdover continues for more than sixty (60) days, Tenant shall be liable for all damages incurred by Landlord as a result of Tenant holding over. No surrender to Landlord of this Lease or of the Leased Premises or any part thereof or of any interest therein by Tenant shall be valid or effective unless required by the provisions of this Lease or unless agreed to and accepted in writing by Landlord. No act on the part of any representative or agent of Landlord, and no act on the part of Landlord other than such a written agreement acceptance by Landlord, shall constitute or be deemed an acceptance of any such surrender.

Appears in 1 contract

Sources: Lease (Entrada Therapeutics, Inc.)

Surrender of Premises and Holding Over. If Tenant shall remain in possession of the Leased Premises without extension after the expiration of the Lease Term, Tenant shall hold as a tenant at sufferance, at a charge for use and occupancy, and not as rent, of the Leased Premises (x) with respect to any holdover period up to sixty (60) days after the Expiration Date, equal to one hundred percent (100%) of the highest monthly installment of Base Rent applicable during the Term plus all Additional Rent during such period of time, provided that Tenant has given notice to Landlord no later than six (6) months before the Expiration Date Term that Tenant will hold over for up to sixty (60) days after the Expiration Date; and (y) with respect to any other holdover period, equal to one hundred and fifty percent (150%) of the highest monthly installment of Base Rent applicable during the Lease Term plus all Additional Rent during such period of time; and (y) with respect to any holdover period after such initial sixty (60) day period, equal to two hundred percent (200%) of the highest monthly installment of Base Rent applicable during the Lease Term plus all Additional Rent during such period of time. In all other respects Landlord and Tenant shall be subject to the terms, provisions and conditions of this Lease, Lease provided in the event such holdover continues for more than sixty (60) days, Tenant shall be liable for all damages incurred by Landlord as a result of Tenant holding over. No surrender to Landlord of this Lease or of the Leased Premises or any part thereof or of any interest therein by Tenant shall be valid or effective unless required by the provisions of this Lease or unless agreed to and accepted in writing by Landlord. No act on the part of any representative or agent of Landlord, and no act on the part of Landlord other than such a written agreement acceptance by Landlord, shall constitute or be deemed an acceptance of any such surrender.

Appears in 1 contract

Sources: Lease Agreement (Soaring Eagle Acquisition Corp.)

Surrender of Premises and Holding Over. If Except as hereinafter provided, upon the expiration or earlier termination of this Lease, Tenant shall remain quit and surrender the Premises, in possession of good condition and repair (reasonable wear and tear excepted). If the Leased Premises without extension after are not surrendered at the expiration end of the Lease Term, Tenant shall hold as a indemnify Landlord for, from and against any loss or liability resulting from delay by Tenant in so surrendering the Premises, including without limitation, any claims made by any succeeding tenant at sufferancebased on such delay. If Tenant or any successor in interest of Tenant, at a charge for use and occupancy, and not as rent, should remain in possession of the Leased Premises (x) with respect to any holdover period up to sixty (60) days after the Expiration Date, equal to one hundred and fifty percent (150%) expiration of the highest monthly installment of Base Rent applicable during the Lease Term plus without executing a new lease, then such holding over shall be construed as a tenancy from month to month, subject to all Additional Rent during such period the covenants, terms, provisions and obligations of time; and (y) with respect to any holdover period after such initial sixty (60) day periodthis Lease except Monthly Rent, equal to two hundred percent (200%) of the highest monthly installment of Base Rent applicable during the Lease Term plus all Additional Rent during such period of time. In all other respects Landlord and Tenant which shall be subject to an automatic increase of fifty percent (50%) over and above the terms, provisions and conditions of this Lease, provided amounts paid in the event such holdover continues for more than sixty (60) dayslast full calendar month of the Lease Term, Tenant as "Monthly Rent" together with all other sums owing to Landlord hereunder. Nothing contained herein shall be liable construed as Landlord's permission for all damages incurred by Tenant to hold over or as limiting Landlord's remedies against a holdover tenant. All keys shall be returned to the Landlord as a result upon surrender; failure of Tenant holding over. No surrender to Landlord of this Lease or of return all keys shall obligate Tenant to pay all necessary costs in rekeying the Leased Premises or any part thereof or of any interest therein by Tenant shall be valid or effective unless required by locks pertaining to the provisions of this Lease or unless agreed to and accepted in writing by Landlord. No act on the part of any representative or agent of Landlord, and no act on the part of Landlord other than such a written agreement acceptance by Landlord, shall constitute or be deemed an acceptance of any such surrenderPremises.

Appears in 1 contract

Sources: Lease Agreement (Centennial Sepcialty Foods Corp)

Surrender of Premises and Holding Over. If Tenant shall remain in possession of the Leased Premises without extension after the expiration of the Lease Term, Tenant shall hold as a tenant at sufferance, at a charge for use and occupancy, and not as rent, of the Leased Premises (x) with respect to any holdover period up to sixty (60) days after the Expiration Date, equal to one hundred and fifty percent (150%) of the highest monthly installment of Base Rent applicable during the Lease Term plus all Additional Rent during such period of time; and (y) with respect to any holdover period after such initial sixty (60) day period, equal to two hundred percent (200%) of the highest monthly installment of Base Rent applicable during the Lease Term plus all Additional Rent during such period of time. In all other respects Landlord and Tenant shall be subject to the terms, provisions and conditions of this Lease, provided in the event such holdover continues for more than sixty (60) days, Tenant shall be liable for all damages incurred by Landlord as a result of Tenant holding over. No surrender to Landlord of this Lease or of the Leased Premises or any part thereof or of any interest therein by Tenant shall be valid or effective unless required by the provisions of this Lease or unless agreed to and accepted in writing by Landlord. No act on the part of any representative ▇▇ ▇▇▇ ▇epresentative or agent of Landlord, and no act on the part of Landlord other than such a written agreement acceptance by Landlord, shall constitute or be deemed an acceptance of any such surrender.

Appears in 1 contract

Sources: Lease Agreement (Entrada Therapeutics, Inc.)