Common use of Surrender of the Leased Premises Clause in Contracts

Surrender of the Leased Premises. Upon the termination of this Lease -------------------------------- whether by forfeiture, lapse of time, or otherwise, or upon the termination of Tenant's rights to possession of the Leased Premises, Tenant will at once surrender and deliver up to Landlord possession of the Leased Premises together with all improvements thereon in good condition and repair, ordinary wear and tear excepted. Said improvements shall include all plumbing, lighting, electrical, heating, cooling and ventilating fixtures and equipment and other articles of personal property used in the operation of the Leased Premises (as distinguished from the Trade Fixtures which are used in the operation of Tenant's business). All additions, hardware, non-trade fixtures and improvements to the Leased Premises shall become Landlord's property and shall remain upon the Leased Premises, without compensation to Tenant, unless Landlord requests their removal in writing at the time of approval of installation (if applicable). Upon termination of this Lease, the Tenant agrees to deliver to Landlord all of the keys to the Leased Premises. The Tenant may remove Tenant's Trade Fixtures from the Leased Premises provided, however, that Tenant shall repair any injury to or damage to the Leased Premises caused by the removal of its Trade Fixtures. In the event that Tenant fails to remove its Trade Fixtures, Landlord may, at its option, remove the same and deliver the same to any other place of business of Tenant or warehouse the same, and Tenant shall be responsible for paying the cost of said removal, including the cost of repairing any damage to the Leased Premises resulting from such removal, delivery and warehousing, to Landlord on demand.

Appears in 2 contracts

Sources: Building Lease (Privatebancorp Inc), Building Lease (Privatebancorp Inc)