Common use of Termination and Surrender Clause in Contracts

Termination and Surrender. Tenant shall voluntarily surrender the Premises on or before the Termination Date. Tenant agrees to cooperate reasonably with Landlord in all matters, as applicable, relating to (i) surrendering the Premises in accordance with the surrender requirements and in the condition required pursuant to applicable Lease, and (ii) all other matters related to restoring the Premises to the condition required under the applicable Lease. Landlord hereby agrees that no removal or demolition of alterations, additions or improvements to the Premises will be required at the expiration of the Leases. After the Termination Date, Tenant shall have no further rights of any kind with respect to the Premises. Notwithstanding the foregoing, as provided in Section 5 hereof, those provisions of the Leases which, by their terms, survive the termination of the Leases shall survive the surrender of the Premises and termination of the Leases provided for herein.

Appears in 1 contract

Sources: Lease Termination Agreement (Valentis Inc)

Termination and Surrender. Tenant shall voluntarily surrender the Premises on or before the Termination DateDate as provided in this Agreement. Tenant agrees to cooperate reasonably with Landlord in all matters, as applicable, relating to (i) surrendering the Premises in accordance with the surrender requirements and in the condition required pursuant to applicable the Lease; provided, and (ii) all other matters related to restoring however, that if the Premises are surrendered on the Termination Date in the same condition as of the Effective Date except for reasonable wear and tear and Tenant’s removal of its personal property without causing any damage, Landlord shall not require Tenant to make any repairs or alterations to the condition required under the applicable Lease. Landlord hereby agrees that no removal or demolition of alterations, additions or improvements to the Premises will be required at the expiration of the LeasesPremises. After the Termination Date, Tenant shall have no further rights of any kind with respect to the Premises. Notwithstanding the foregoing, as provided in Section 5 4 hereof, those provisions of the Leases Lease which, by their terms, survive the termination of the Leases Lease shall survive the surrender of the Premises and termination of the Leases Lease provided for herein.

Appears in 1 contract

Sources: Termination of Lease Agreement (Frequency Therapeutics, Inc.)

Termination and Surrender. Tenant shall voluntarily surrender the Premises on or before the Termination DateDate as required under the Lease, as modified by this Agreement. Tenant agrees to cooperate reasonably with Landlord in all matters, as applicable, relating to (i) surrendering the Premises in accordance with the surrender requirements and in the condition required pursuant to applicable the Lease, and (ii) all other matters related to restoring the Premises to the condition required under the applicable Lease. Landlord hereby agrees that no removal or demolition of alterations, additions or improvements to the Premises will be required at the expiration of the Leases. After the Termination Date, Tenant shall have no further rights of any kind with respect to the Premises. Notwithstanding the foregoing, as provided in Section 5 hereof, those provisions of the Leases Lease which, by their terms, survive the termination of the Leases Lease shall survive the surrender of the Premises and termination of the Leases Lease provided for herein. Notwithstanding anything to the contrary contained in the Lease, in connection with the surrender of the Premises pursuant to this Agreement, Landlord and Tenant acknowledge and agree that Tenant shall not be required to remove any Alterations, Installations, Roof Equipment or other Improvements located in the Premises, the 780 Building or the 790 Building existing as of the date of this Agreement nor shall Tenant have any right to remove the same.

Appears in 1 contract

Sources: Termination of Lease Agreement (Infinity Pharmaceuticals, Inc.)