Yield Up. Upon the expiration or sooner termination of this Agreement, Tenant shall vacate and surrender the Leased Property to Landlord in substantially the same condition in which the Leased Property was in on the Commencement Date, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Agreement, reasonable wear and tear excepted (and casualty damage and Condemnation, in the event that this Agreement is terminated following a casualty or Condemnation in accordance with Article 10 or Article 11 excepted), and except for repairs Tenant elects not to make pursuant to Section 5.1.3(b). In addition, upon the expiration or earlier termination of this Agreement, Tenant shall, at Landlord's sole cost and expense, use its good faith efforts to transfer to and cooperate with Landlord or Landlord's nominee in connection with the processing of all applications for licenses, operating permits and other governmental authorizations and all contracts, including contracts with governmental or quasi-governmental Entities which may be necessary for the use and operation of the Hotel as then operated. If requested by Landlord, Tenant will direct the Manager to continue, or if there is no Manager, Tenant shall continue to manage one or more of the Hotels after the expiration of the Term and for up to one (1) year, on such reasonable terms (which shall include a market rate management fee, customary royalty for non-exclusive license to use the trademarks then being used at the Leased Property and an agreement to reimburse the Manager or Tenant, as the case may be, for its reasonable out-of-pocket costs and expenses, and reasonable administrative costs), as Landlord shall reasonably request.
Appears in 7 contracts
Sources: Lease Agreement (Hospitality Properties Trust), Lease Agreement (Sholodge Inc), Lease Agreement (Hospitality Properties Trust)
Yield Up. Upon the expiration or sooner termination of this Agreement, Tenant shall remove all of Tenant’s Personal Property (other than that purchased by Landlord pursuant to Article 15) and vacate and surrender the Leased Property to Landlord in substantially the same condition in which the Leased Property was in on the Commencement Date, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Agreement, reasonable wear and tear excepted (and casualty damage and Condemnation, in the event that this Agreement is terminated following a casualty or Condemnation in accordance with Article 10 or Article 11 11, excepted), and except for repairs Tenant elects not to make pursuant to Section 5.1.3(b). In addition, upon the expiration or earlier termination of this Agreement, Tenant shall, at Landlord's ’s sole cost and expense, use its good faith efforts to transfer and/or assign (or cause to be transferred or assigned) to Landlord or Landlord’s nominee, and to cooperate with Landlord or Landlord's ’s nominee in connection with with, the processing of all applications for licenses, operating permits and other governmental authorizations and all contracts, including contracts with governmental or quasi-governmental Entities entities, which may be necessary for the use and operation of the Hotel Travel Centers as then operated. If requested by Landlord, Tenant will direct the Manager to continue, or if there is no Manager, Tenant shall continue to manage one or more of the Hotels Travel Centers after the expiration of the Term and for up to one hundred eighty (1180) yeardays, on such reasonable terms (which shall include including receipt by Tenant of a market rate management fee, customary royalty for non-exclusive license to use the trademarks then being used at the Leased Property and an agreement to reimburse the Manager or Tenant, as the case may be, for its reasonable out-of-pocket costs and expenses, and reasonable administrative costs), as Landlord shall reasonably request.
Appears in 2 contracts
Sources: Lease Agreement (Hospitality Properties Trust), Lease Agreement (Travelcenters of America LLC)
Yield Up. Upon the expiration or sooner termination of this Agreement, Tenant shall remove all of Tenant’s Personal Property (other than that purchased by Landlord pursuant to Article 15) and vacate and surrender the Leased Property to Landlord in substantially the same condition in which the Leased Property was in on the Commencement Date, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Agreement, reasonable wear and tear excepted (and casualty damage and Condemnation, in the event that this Agreement is terminated following a casualty or Condemnation in accordance with Article 10 or Article 11 11, excepted), and except for repairs Tenant elects not to make pursuant to Section 5.1.3(b). In addition, upon the expiration or earlier termination of this Agreement, Tenant shall, at Landlord's sole cost and expense, use its good faith efforts to transfer and/or assign (or cause to be transferred or assigned) to Landlord or Landlord’s nominee, and to cooperate with Landlord or Landlord's nominee in connection with with, the processing of all applications for licenses, operating permits and other governmental authorizations and all contracts, including contracts with governmental or quasi-governmental Entities entities, which may be necessary for the use and operation of the Hotel Travel Centers as then operated. If requested by Landlord, Tenant will direct the Manager to continue, or if there is no Manager, Tenant shall continue to manage one or more of the Hotels Travel Centers after the expiration of the Term and for up to one hundred eighty (1180) yeardays, on such reasonable terms (which shall include including receipt by Tenant of a market rate management fee, customary royalty for non-exclusive license to use the trademarks then being used at the Leased Property and an agreement to reimburse the Manager or Tenant, as the case may be, for its reasonable out-of-pocket costs and expenses, and reasonable administrative costs), as Landlord shall reasonably request.
Appears in 1 contract
Yield Up. Upon the expiration or sooner termination of this -------- Agreement, Tenant shall vacate and surrender the Leased Property to Landlord in substantially the same condition in which the Leased Property was in on the Commencement Date, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Agreement, reasonable wear and tear excepted (and casualty damage and Condemnation, in the event that this Agreement is terminated following a casualty or Condemnation in accordance with Article 10 or Article 11 excepted), and except for repairs Tenant elects not to ---------- ---------- make pursuant to Section 5.1.3(b). ---------------- In addition, upon the expiration or earlier termination of this Agreement, Tenant shall, at Landlord's sole cost and expense, use its good faith efforts to transfer to and cooperate with Landlord or Landlord's nominee in connection with the processing of all applications for licenses, operating permits and other governmental authorizations and all contracts, including contracts with governmental or quasi-governmental Entities which may be necessary for the use and operation of the Hotel as then operated, but excluding (a) contracts with Affiliated Persons, (b) insurance contracts which are not limited in scope to the Leased Property, (c) utility deposits, if any, and (d) any "800" reservation telephone numbers. If requested by Landlord, Tenant will direct the Manager to continue, or if there is no Manager, Tenant shall continue to manage one or more of the Hotels after the expiration of the Term and for up to one (1) year, on such reasonable terms (which shall include a market rate management fee, customary royalty for non-exclusive license to use the trademarks then being used at the Leased Property and an agreement to reimburse the Manager or Tenant, as the case may be, for its reasonable out-of-pocket costs and expenses, and reasonable administrative costs), as Landlord shall reasonably request.
Appears in 1 contract
Yield Up. Upon the expiration or sooner termination of this Agreement, Tenant shall vacate and surrender the Leased Property to Landlord in substantially the same condition in which the Leased Property was in on the Commencement Date, except as repaired, rebuilt, restored, altered or added to as permitted or required by the provisions of this Agreement, reasonable wear and tear excepted (and casualty damage and Condemnation, in the event that this Agreement is terminated following a casualty or Condemnation in accordance with Article ARTICLE 10 or Article ARTICLE 11 excepted), and except for repairs Tenant elects not to make pursuant to Section 5.1.3(bSECTION 5.1.3(B). In addition, upon the expiration or earlier termination of this Agreement, Tenant shall, at Landlord's sole cost and expense, use its good faith efforts to transfer to and cooperate with Landlord or Landlord's nominee in connection with the processing of all applications for licenses, operating permits and other governmental authorizations and all contracts, including contracts with governmental or quasi-governmental Entities which may be necessary for the use and operation of the Hotel as then operated. If requested by Landlord, Tenant will direct the Manager to continue, or if there is no Manager, Tenant shall continue to manage one or more of the Hotels after the expiration of the Term and for up to one (1) year, on such reasonable terms (which shall include a market rate management fee, customary royalty for non-exclusive license to use the trademarks then being used at the Leased Property and an agreement to reimburse the Manager or Tenant, as the case may be, for its reasonable out-of-pocket costs and expenses, and reasonable administrative costs), as Landlord shall reasonably request.
Appears in 1 contract
Sources: Lease Agreement (Sholodge Inc)