Example ContractsClausesAbandoned Property
Abandoned Property
Abandoned Property contract clause examples

Abandoned Property. After the expiration or earlier termination hereof, if Tenant fails to remove any property from the Building or the Premises which Tenant is obligated by the terms of this Lease to remove within five (5) business days after written notice from Landlord, such property (the “Abandoned Property”) shall be conclusively deemed to have been abandoned, and may either be retained by Landlord as its property or sold or otherwise disposed of in such manner as Landlord may see fit. If any item of Abandoned Property shall be sold, Tenant hereby agrees that Landlord may receive and retain the proceeds of such sale and apply the same, at its option, to the expenses of the sale, the cost of moving and storage, any damages to which Landlord may be entitled under Section 20 hereof or pursuant to law, and to any arrears of Rent.

Any personal property in which Tenant has an interest which shall remain in the Premises, the Building or elsewhere on the Property after the expiration or termination of the Term of this Lease shall be conclusively deemed to have been abandoned, and may be disposed of in such manner as Landlord may see fit.

Surrender (a) Upon the expiration or earlier termination of the Term, Tenant shall # peaceably quit and surrender to Landlord the Premises (including, without limitation, all fixed lab benches, fume hoods, electric, plumbing, heating and sprinkling systems, fixtures and outlets, vaults, paneling, molding, shelving, radiator enclosures, cork, rubber, linoleum and composition floors, ventilating, silencing, air conditioning and cooling equipment therein, Tenant’s Generator, Landlord’s Work, and all other furniture, fixtures, and equipment that was either provided by Landlord or paid for in whole or in part by any allowance provided to Tenant by Landlord under this Lease) broom clean, in good order, repair and condition excepting only ordinary wear and tear and damage by fire or other insured Casualty; # remove all of Tenant’s Property, all autoclaves and cage washers and, at Landlord’s election, any Alterations made by Tenant (in accordance with Section 11(a)); and # repair any damages to the Premises or the Building caused by the installation or removal of Tenant’s Property and/or such Alterations. Tenant’s obligations under this Section 21.1(a) shall survive the expiration or earlier termination of this Lease.

Abandoned Development. Betta will, through itself and the Betta Parties, ​ Develop, Manufacture and Commercialize Licensed Products in the Territory in the Field in accordance with the Territory Development Plan. If, at any point in time prior to the First Commercial Sale of the first Licensed Product containing a Licensed Antibody to obtain Regulatory Approval, # the Betta Parties have substantially ceased to conduct Development of such Licensed Antibody ​, # such inactivity was not imposed by a Regulatory Authority, a result of a change in Applicable Laws, and was not due to a Force Majeure Event, and # [[Agenus:Organization]] has complied with its obligations under this Agreement during such period, then Betta will be deemed to have abandoned Development of such Licensed Antibody (“Abandoned Development”). If, at any point in time following the First Commercial Sale of the first Licensed Product containing a Licensed Antibody to obtain Regulatory Approval, # ​, # such inactivity was not imposed by a Regulatory Authority, a result of a change in Applicable Laws, and was not due to a Force Majeure Event, and # [[Agenus:Organization]] has complied with its obligations under this Agreement during such period, then Betta will be deemed to have abandoned Commercialization of such Licensed Antibody (“Abandoned Commercialization”). If [[Agenus:Organization]] ​ concludes that Betta has Abandoned Development or Abandoned Commercialization of either Licensed Antibody, as applicable, then [[Agenus:Organization]] may deliver written notice to Betta setting out the basis for [[Agenus:Organization]]’ conclusion. ​.

For Abandoned Development. If at any time prior to the First Commercial Sale of any Licensed Product, # [[Organization A:Organization]] has substantially ceased to conduct Development of Licensed Products for nine (9) consecutive months, and # such inactivity was not in response to a requirement imposed by a Regulatory Authority and was not due to a Force Majeure event, and # [[Agenus:Organization]] has complied with its obligations under this Agreement during such period, then [[Organization A:Organization]] shall be deemed to have abandoned Development of Licensed Products (“Abandoned Development”). In the event of Abandoned Development, either Party may terminate this Agreement on sixty (60) days’ written notice to the other Party.

any gains realized upon the Disposition of property (including abandoned or discontinued operations or product lines) outside of the ordinary course of business,

There are no active or abandoned underground storage tanks present at, on, or under the real property owned, operated or leased by the Company.

not allow any material Intellectual Property Collateral to be abandoned, forfeited or dedicated to the public without the express prior written consent of the Lender.

Protect, defend and maintain the validity and enforceability of its Intellectual Property; # promptly advise Bank in writing of material infringements of its Intellectual Property; and # not allow any Intellectual Property material to Borrower’s business to be abandoned, forfeited or dedicated to the public.

All wells located on the Property shall be duly abandoned at the Seller’s sole cost and expense prior to closing unless this requirement is waived by DSL in writing. Seller warrants that any billboards on the property shall be removed prior to closing.

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