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groundlease- rev- c12.orange <br />7.3.4 Waiver of Subrogation. To the extent they are able to do so, each of Landlord and Tenant hereby <br />releases the other from any loss or damage to property caused by fire or any other perils insured <br />through or under either by way of subrogation or otherwise for any loss or damage to property <br />caused by fire or any other perils insured in policies of insurance covering such property, even if <br />such loss or damage shall have been caused by the fault or negligence of the other party, or anyone <br />for whom such party may be responsible; provided, however, that this release shall be applicable <br />and in force and effect only with respect to the loss or damage occurring during such times as the <br />releasor's policies shall contain a clause or endorsement to the effect that any such release shall <br />not adversely affect or impair said policies or prejudice the right of the releasor to recover <br />thereunder and then only to the extent of the insurance proceeds payable under such policies. <br />Each of Landlord and Tenant agrees that it will request its insurance carriers to include in its <br />policies such a clause or endorsement. If extra cost shall be charged therefor, each party shall <br />advise the other thereof and of the amount of the extra cost, and the other party, at its election, <br />may pay the same, but shall not be obligated to do so. <br />7.4 Holdine Over. This Lease shall terminate at the end of the original term or any extensions thereof hereof <br />without the necessity of any notice from either Landlord or Tenant to terminate same and Landlord's right <br />to the Leased Premises shall be as stated in Section 2.2.1 and elsewhere herein, and Tenant hereby waives <br />notice to vacate the Leased Premises and agrees that Landlord shall be entitled to the summary recovery of <br />possession of the Leased Premises should Tenant hold over to the same extent as if statutory notice had <br />been given. If Tenant should remain in possession of the Leased Premises after the termination or <br />expiration of the Term without the execution by Landlord and Tenant of a new lease, then Tenant shall be <br />deemed to be occupying the Leased Premises as a tenant -at- sufferance, subject to all the covenants and <br />obligations of this Lease and at rental equal to the rental in effect immediately prior to the expiration or <br />termination, but such holding over shall not extend the Term. <br />7.5 Assignment. Landlord expressly consents to the assignment by Tenant to Sub -Tenant of all of Tenant's <br />rights and obligations hereunder and, upon such assignment, Landlord releases Tenant from any obligation <br />or liability to Landlord existing by virtue of this Lease except for Tenant's obligations in Section 8.10. By <br />accepting such assignment Sub -Tenant accepts and assumes all of Tenant's rights, obligations and <br />liabilities existing by virtue of this Lease. Except as expressly permitted herein Tenant shall not, by <br />operation of law or otherwise, assign, mortgage, pledge, encumber or otherwise transfer any interest in this <br />Lease, nor sublet the Leased Premises or any part thereof to anyone other than Sub -Tenant without the <br />prior written consent of Landlord. Sub -Tenant shall not, by operation of law or otherwise, assign, <br />mortgage, pledge, encumber or otherwise transfer any interest in this Lease, nor sublet the Leased Premises <br />or any part thereof to anyone without the prior written consent of Landlord. <br />7.6 <br />7.6.1 Each of the following occurrences relative to Tenant shall constitute an "Event of Default ": <br />7.6.1.1 Failure or refusal by Tenant to make the timely payment of any rent or other sums <br />payable under this Lease when and as the same shall become due and payable; or <br />7.6.1.2 Abandonment of the Leased Premises; or <br />7.6.1.3 Failure by Tenant in the performance or compliance with any of the agreements, terms, <br />covenants or conditions under this Lease applicable to Tenant under this lease, for a <br />period of sixty (60) days after notice from Landlord to Tenant specifying the items in <br />default. <br />7.6.2 This Lease and Term and estate hereby made are subject to the limitation that if any Event of <br />Default shall occur, Landlord may, at Landlord's option and without order of any court or further <br />written notice to Tenant, in addition to all other remedies given hereunder or by the law or equity <br />