Surrender Plan Sample Clauses

The Surrender Plan clause outlines the procedures and requirements for relinquishing rights or interests in a property, asset, or contract. Typically, it details the steps a party must follow to formally notify the other party of their intent to surrender, any conditions that must be met before surrender is accepted, and the timeline for completing the process. For example, in a lease agreement, this clause might specify how a tenant should return the premises and what condition it must be in. The core function of this clause is to provide a clear, structured process for ending an agreement or returning property, thereby minimizing disputes and ensuring both parties understand their obligations during surrender.
Surrender Plan. At least nine (9) months prior to the expiration date of this Lease (or in the event of an earlier termination of this Lease, as soon as reasonably possible following such termination), Tenant shall deliver to Landlord a narrative description of the actions proposed (or required by any Governmental Authority) to be taken by Tenant in order to surrender the Premises (including any Installations permitted by Landlord to remain in the Premises) at the expiration or earlier termination of the Term in accordance with Section 15.2 (the "Surrender Plan"). Such Surrender Plan shall be accompanied by a current listing of (i) all Hazardous Materials licenses and permits held by or on behalf of any Tenant Party with respect to the Premises, and (ii) all Hazardous Materials used, stored, handled, treated, generated, released or disposed of from the Premises, and shall be subject to the review and approval of Landlord's environmental consultant. In connection with the review and reasonable approval of the Surrender Plan, upon the request of Landlord, Tenant shall deliver to Landlord or its consultant such additional non-proprietary information concerning Tenant HazMat Operations as Landlord shall reasonably request. Prior to the expiration date (or in the event of an earlier termination of this Lease, as soon as reasonably possible following such termination), Tenant shall deliver to Landlord evidence that the approved Surrender Plan shall have been satisfactorily completed (which evidence may be the Environmental Assessment provided pursuant to Section 15.3) and Landlord shall have the right, subject to reimbursement at Tenant's expense as set forth below, to cause Landlord's environmental consultant to inspect the Premises and perform such additional procedures as may be deemed reasonably necessary to confirm that the approved Surrender Plan shall have been satisfactorily completed. If such inspection by Landlord's environmental consultant reveals that Tenant failed to satisfactorily complete the approved Surrender Plan in any material respect, Tenant shall reimburse Landlord, as Additional Rent, for the actual out-of pocket expense incurred by Landlord for Landlord's environmental consultant to review and approve the Surrender Plan and to visit the Premises and verify satisfactory completion of the same, which cost shall not exceed $5,000. Landlord shall have the unrestricted right to deliver such Surrender Plan and any report by Landlord's environmental consultant ...
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Surrender Plan. Effective as of the Effective Date of this First Amendment, Paragraph 32.9 of the Lease hereby is deleted in its entirety and replaced with the following:
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Surrender Plan. At least sixty (60) days prior to the expiration of the Term (or such earlier time that Tenant intends to remove any furnishings, fixtures or equipment from the Premises), Tenant shall provide to Landlord a detailed list and narrative description of its plan of surrender (“Surrender Plan”) that implements the terms of Sections 20.1. 20.2, and 20.3 including a detailed listing and description of the items in the Premises that Tenant intends to remove. Landlord shall have the right to make reasonable objections to or modifications of such Surrender Plan, and Tenant shall satisfy Landlord’s reasonable objections prior to the expiration of the Term (or any earlier date that Tenant intends to begin removing items). Tenant’s surrender of the Premises and removal and repair thereof shall follow in all respects the Surrender Plan, as the same may have been modified to reasonably satisfy Landlord, and on all of the other terms and conditions of this Lease. Landlord shall have the right to have a representative observe all aspects of Tenant’s vacation of the Premises to ensure compliance with this Lease and the Surrender Plan.
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Surrender Plan. At least one hundred twenty (120) days prior to the expiration of the Term (or such earlier time that Sub-Tenant intends to remove any furnishings, fixtures or equipment from the Sub-Premises), Sub-Tenant shall provide to Sub-Landlord a detailed list and narrative description of its plan of surrender (“Surrender Plan”) that implements the terms of Sections 20.1 and 20.2, including a detailed listing and description of the items in the Sub-Premises that Sub-Tenant intends to remove. Sub-Landlord shall have the right to make reasonable objections to or modifications of such Surrender Plan, and Sub-Tenant shall satisfy Sub-Landlord’s objections at least thirty (30) days prior to the expiration of the Term (or any earlier date that Sub-Tenant intends to begin removing items). Sub-Tenant’s surrender of the Sub-Premises shall follow in all respects the Surrender Plan, as the same may have been modified to satisfy Sub-Landlord, and on all of the other terms and conditions of this Sublease. Sub-Landlord shall have the right to have a representative observe all aspects of Sub-Tenant’s vacation of the Sub-Premises to ensure compliance with this Sublease and the Surrender Plan.
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Surrender Plan. At least one hundred twenty (120) days prior to the expiration of the Term (or such earlier time that Sub-Tenant intends to remove any furnishings, fixtures or equipment from the Sub-Premises), Sub-Tenant shall provide to Sub-Landlord a detailed list and narrative description of its plan of surrender (“Surrender Plan”) that implements the terms of Sections 20.1 and 20.2, including a detailed listing and description of the items in the Sub-Premises that Sub-Tenant intends to remove. Sub-Landlord shall have the right to make reasonable objections to or modifications of such Surrender Plan, and Sub-Tenant shall satisfy Sub-Landlord’s objections at least thirty (30) days prior to the expiration of the Term (or any earlier date that Sub-Tenant intends to begin removing items). Sub-Tenant’s surrender of the Sub-Premises shall follow in all respects the Surrender Plan, as the same may have been modified to satisfy Sub-Landlord, and on all of the other terms and conditions of this Sublease. Sub-Landlord shall have the right to have a representative observe all aspects of Sub-Tenant’s vacation of the Sub-Premises to ensure compliance with this Sublease and the Surrender Plan.
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Related to Surrender Plan

  • Surrender/Restoration Lessee shall surrender the Premises by the end of the last day of the Lease term or any earlier termination date, clean and free of debris and in good operating order, condition and state of repair, ordinary wear and tear excepted. Ordinary wear and tear shall not include any damage or deterioration that would have been prevented by good maintenance practice or by Lessee performing all of its obligations under this Lease. Except as otherwise agreed or specified herein, the Premises, as surrendered, shall include the Alterations and Utility Installations. The obligation of Lessee shall include the repair of any damage occasioned by the installation, maintenance or removal of Lessee's Trade Fixtures, furnishings, equipment, and Lessee-Owned Alterations and Utility Installations, as well as the removal of any storage tank installed by or for Lessee, and the removal, replacement, or remediation of any soil, material or ground water contaminated by Lessee, all as may then be required by Applicable Requirements and/or good practice. Lessee's Trade Fixtures shall remain the property of Lessee and shall be removed by Lessee subject to its obligation to repair and restore the Premises per this Lease.

  • 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.

  • Surrender Upon the expiration or earlier termination of this Lease for any reason, Tenant shall surrender the Premises to Landlord in its condition existing as of the date Landlord delivers possession of the Premises to Tenant, normal wear and tear and damage by fire or other casualty excepted, with all interior walls repaired and repainted if marked or damaged, all carpets shampooed and cleaned, all broken, marred or nonconforming acoustical ceiling tiles replaced, all windows washed, the plumbing and electrical systems and lighting in good order and repair, including replacement of any burned out or broken light bulbs or ballasts, the HVAC equipment serviced and repaired by a reputable and licensed service firm acceptable to Landlord, and all floors cleaned and waxed, all to the reasonable satisfaction of Landlord. Tenant shall remove from the Premises and the Project all of Tenant's trade fixtures, furniture, moveable equipment and other personal property, and any Alterations which Landlord elects to be removed pursuant to Section 5.3, and shall restore the Premises to its condition prior to their installation, including, without limitation, repairing all damage caused by the installation or removal of any of the foregoing items. If Tenant does not timely remove such property, then Tenant shall be conclusively presumed to have, at Landlord's election: (a) conveyed such property to Landlord without compensation or (b) abandoned such property, and Landlord may dispose of or store any part thereof in any manner at Tenant's sole cost, without waiving Landlord's right to claim from Tenant all expenses arising out of Tenant's failure to remove the property, and without liability to Tenant or any other person. Landlord shall have no duty to be a bailee of any such personal property. If Landlord elects to consider such property abandoned, Tenant shall be liable to Landlord for the costs of: (i) removal of any such Alterations or personal property, (ii) storage, transportation, and disposition of the same, and (iii) repair and restoration of the Premises, together with interest thereon at the Interest Rate from the date of expenditure by Landlord.

  • 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.

  • Surrender of Leased Premises 26.1 Tenant shall, at least ninety (90) days before the last day of the term hereof, give to Landlord a written notice of intention to surrender the leased premises on that date, but nothing contained herein shall be construed as an extension of the term hereof or as consent of Landlord to any holding over by Tenant. At the end of the term or any renewal thereof or other sooner termination of this Lease, Tenant will peaceably deliver up to the Landlords possession of the leased premises, together with all improvements or additions upon or belonging to the same, by whosoever made, in substantially the same condition as received, or first installed, ordinary wear and tear and damage by fire, earthquake, act of God or the elements alone excepted. Tenant may, upon the termination of this Lease, remove, at Tenants sole cost, all trade fixtures installed by Tenant, title to which shall be in Tenant until such termination, repairing any damage to the leased caused by such removal. Any of Tenants personal property and trade fixtures not removed by Tenant at the end of the term or other sooner termination of this Lease shall be deemed abandoned by the Tenant if Landlord so elects, and Landlord shall remove, store and disposing of Tenants abandoned personal property and trade fixtures. Tenant shall indemnify Landlord against any loss or liability resulting from delay by Tenant in so surrendering the leased premises, including without limitation, any claims made by any succeeding Tenant founded on such delay.