Landlord’s Termination Right definition

Landlord’s Termination Right. As defined in Section 7.2(d).
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Landlord’s Termination Right. Landlord’s Termination Right, together with Tenant’s Termination Right, may collectively be referred to in this Second Amendment as the “Termination Rights”) to terminate the Lease for the Expansion Space only, effective as of 11:59:59 p.m., Pacific Time, on the Termination Date, if for any reason (A) the first Option Term for the Existing Premises is not exercised or the initial Lease Term for the Existing Premises is not actually renewed pursuant to the Extension Option Rider, as modified herein), and (B) the initial Lease Term for the Existing Premises is otherwise not extended or renewed beyond the Expansion Space Lease Expiration Date by mutual written agreement of the parties; provided that, as a condition precedent to such early termination, Tenant shall have received written notice (the “Landlord Termination Notice”) from Landlord stating that Landlord intends to terminate the Lease for only the Expansion Space pursuant to the terms of this Section, and setting forth the Termination Fee. The timing for any such delivery by Landlord of the Landlord Termination Notice shall be as follows: (1) if such Landlord Termination Notice is pursuant to Tenant not exercising its first Option Term for the Existing Premises, then it shall be so delivered by no later than March 31, 2030, or (2) if such Landlord Termination Notice is pursuant to Tenant attempting to exercise its first Option Term for the Existing Premises but such exercise not being successful, then it shall be so delivered by the later to occur of March 31, 2030 or the date that is thirty (30) days after Landlord reasonably confirms that such exercise has not been successful (and Tenant shall reasonably cooperate with Landlord in making such confirmation, including, without limitation and if factually correct, by acknowledging in writing that any such exercise has not been successful). In any event, absent demonstrable error in the Landlord Termination Notice of Landlord’s calculation of the Termination Fee (in which case the parties shall work together in good faith to resolve such error as soon as reasonably possible), Tenant shall pay fifty percent (50%) of the Termination Fee (which shall be deemed payment in full, even though such payment is for less than the full Termination Fee) to Landlord within thirty (30) days after Tenant’s receipt of the Landlord Termination Notice or resolution of any such error, as applicable. Provided that Landlord performs all of the foregoing in accordance with t...
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Examples of Landlord’s Termination Right in a sentence

  • CASUALTY DAMAGE 41 25.1 Landlord’s Restoration Obligation 41 25.2 Landlord’s Repair Notice 41 25.3 Landlord’s Termination Right 41 25.4 Tenant’s Termination Rights 42 25.5 Tenant’s Restoration Obligations 42 25.6 Insurance Proceeds 43 25.7 Landlord not Liable for Business Interrupt 43 25.8 Rent Abatement 43 25.9 Casualty Prior to Completion of Initial Improvements 43 25.10 Waiver 43 25.11 Tenant Improvements, Alterations and Personal Property 43 26.

  • If Landlord does not exercise Landlord’s Termination Right with respect to any Applicable Sublease, the Sublessee thereunder may continue to occupy the Sublease for the balance of the term, but Tenant shall not extend the term, nor shall Sublessee be permitted to exercise any renewal right (and any Sublease shall specify that membership on the Medical Staff is a condition of renewal).

  • In addition, if Tenant’s Termination Right or Landlord’s Termination Right is exercised such that the Lease would, upon such termination, remain in effect for the Existing Premises, then the parties shall promptly enter into an amendment to the Lease reflecting such downsizing of the Premises (and the adjustment of Lease terms that are dependent upon the size of the Premises).

  • In the event Landlord exercises the Landlord’s Termination Right, then on or before the Lease Termination Date, Tenant shall vacate and surrender possession of the Premises to Landlord and shall relinquish all of the rights granted to it under the Lease with respect to the Premises on its behalf and on behalf of any parties claiming through it.

  • Notwithstanding anything to the contrary contained herein, if Tenant attempts to validly exercise Tenant’s Termination Right and Landlord attempts to validly exercise Landlord’s Termination Right, then Tenant’s exercise of Tenant’s Termination Right shall control and Landlord’s exercise of Landlord’s Termination Right shall not take effect.

  • Notwithstanding anything herein to the contrary, in no event shall Landlord’s exercise of the Landlord’s Termination Right and/or Tenant’s exercise of its Re-Occupancy Right (and/or the payment of the Re-Occupancy Fee required in connection therewith) excuse or modify Tenant’s obligation to timely pay all amounts due Landlord pursuant to this Section 4.

  • The parties agree that Landlord has properly exercised the Landlord’s Termination Right pursuant to the terms of the First Amendment and, accordingly, the Lease shall terminate as of 11:59 P.M. on ____________, 20__ (the “Lease Termination Date”) in accordance with the provisions of Paragraph 2 of the First Amendment.

  • Section 2.4 of the Lease, Landlord’s Termination Right, is hereby deleted and of no further effect.

Related to Landlord’s Termination Right

  • Termination Right have the respective meanings given in the PRA Contractual Stay Rules.

  • Termination Option means the option of either party to terminate a transaction in the event that the other party fails to perform a Firm obligation to deliver Gas in the case of Seller or to receive Gas in the case of Buyer for a designated number of days during a period as specified on the applicable Transaction Confirmation.

  • Lease Termination Date means the last day of the Lease Term.

  • Recapture Period means, with respect to any Project, the period from the date such Project is Placed in Service through the fifth anniversary of such date.

  • Termination Option Event means an event of a kind defined as such in Section 4.1, 4.2 or 4.8.

  • Partial Termination has the meaning set forth in the Section 6.3(a).

  • Renewal Option has the meaning set forth in §12.1.

  • Automatic Termination shall have the meaning set forth in Section 2.3.2.

  • Termination for Cause or "Cause" shall mean termination because of the Executive's personal dishonesty, willful misconduct, any breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, conviction of a felony with respect to the Bank or the Company or any material breach of this Agreement. For purposes of this Section, no act, or the failure to act, on the Executive's part shall be "willful" unless done, or omitted to be done, in bad faith and without reasonable belief that the action or omission was in the best interest of the Company or its affiliates. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or based upon the written advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by the Executive in good faith and in the best interests of the Company. Notwithstanding the foregoing, the Executive shall not be deemed to have been terminated for Cause unless and until there shall have been delivered to him a Notice of Termination which shall include a copy of a resolution duly adopted by the affirmative vote of not less than three-fourths of the members of the Board at a meeting of the Board called and held for that purpose (after reasonable notice to the Executive and an opportunity for him, together with counsel, to be heard before the Board), finding that in the good faith opinion of the Board, the Executive was guilty of conduct justifying Termination for Cause and specifying the particulars thereof in detail. The Executive shall not have the right to receive compensation or other benefits for any period after Termination for Cause.

  • Restriction Termination Date means the first day on which the Board of Directors of the Corporation determines that it is no longer in the best interests of the Corporation to attempt to, or continue to, qualify as a REIT.

  • Extended Termination Date has the meaning specified in Section 2.16(c).

  • Termination Period means the period of time beginning with a Change in Control and ending on the earlier to occur of:

  • Optional Termination The termination of the trust created hereunder in connection with the purchase of the Mortgage Loans pursuant to Section 9.01(a) hereof.

  • Good Reason Termination means a termination of employment or service initiated by the Participant upon or after a Change of Control upon one or more of the following events:

  • Exercise Termination Event (i) the Effective Time (as defined in the Merger Agreement) of the Merger; (ii) termination of the Merger Agreement in accordance with the provisions thereof if such termination occurs prior to the occurrence of an Initial Triggering Event, except a termination by Grantee pursuant to Section 8.1(d) of the Merger Agreement (unless the breach by Issuer giving rise to such right of termination is non-volitional); or (iii) the passage of 12 months after termination of the Merger Agreement if such termination follows the occurrence of an Initial Triggering Event or is a termination by Grantee pursuant to Section 8.1(d) of the Merger Agreement (unless the breach by Issuer giving rise to such right of termination is non-volitional) (provided that if an Initial Triggering Event continues or occurs beyond such termination and prior to the passage of such 12-month period, the Exercise Termination Event shall be 12 months from the expiration of the Last Triggering Event but in no event more than 18 months after such termination). The "Last Triggering Event" shall mean the last Initial Triggering Event to expire. The term "Holder" shall mean the holder or holders of the Option.

  • Termination Notice means the communication issued in accordance with this Agreement by one Party to the other Party terminating this Agreement;

  • Acceleration Right means the Participant’s right, in certain circumstances, to exercise its outstanding Option as to all or any of the Common Shares in respect of which such Option has not previously been exercised and which the Participant is entitled to exercise, including in respect of Common Shares not otherwise vested at such time;

  • Terminating Event means any of the following events:

  • Without Cause Termination or “Terminated Without Cause” means termination of the Executive’s employment by the Company other than due to death, disability, or Termination for Cause.

  • Automatic Renewal Term has the meaning set forth in Section 10(a) hereof.

  • Option Term means a period, if any, through which this Agreement may be or has been extended by the JBE.

  • Non-Renewal Notice shall have the meaning set forth in Section 2.

  • Special Termination Notice means the Notice of Special Termination substantially in the form of Annex VII to this Agreement.

  • Post-Termination Period means a period of 12 months (subject to extension as set forth in Section 8(f)) following the effective date of the termination of Executive’s employment.

  • Constructive Termination means:

  • Accretion Termination Date As defined in the Series Supplement.