CANCELLATION OPTION. Provided Tenant is not in default (beyond any applicable cure period) under the Lease at the time of notice or at the time of cancellation, and no event exists which, with the giving of notice or passage of time or both, would become a default, then Tenant shall have the right to cancel the Lease (the “Cancellation Option”). such cancellation to be effective on the last day of the sixty-fifth (65th) full calendar month of the Lease Term (the “Cancellation Date”), upon at least nine (9) full calendar months’ prior written notice to Landlord (the “Cancellation Notice”), provided that Tenant delivers the Cancellation Fee (as defined below) contemporaneously with the Cancellation Notice, time being of the essence hereof. The Cancellation Option is conditioned upon (i) Tenant requesting from Landlord in writing prior to the date of the Cancellation Notice additional space in the Complex to accommodate Tenant’s expansion plans; (ii) Landlord notifying Tenant in writing that it does not have such expansion space available for Tenant; and (iii) Tenant delivering to Landlord along with the Cancellation Notice a copy of a fully executed lease of office space in another office building for space that is equal to or greater in square footage than the Premises under this Lease plus the additional space previously requested from Landlord by Tenant to accommodate Tenant’s proposed expansion plans. The Cancellation Option is personal to Tenant. If Tenant assigns, mortgages, pledges, hypothecates or encumbers the Lease or its interest in the Premises or sublets all or any portion of the Premises to any other party other than pursuant to Section 10(h) hereof, prior to the exercise of the Cancellation Option, the Cancellation Option shall lapse and the Lease shall continue for the entire Lease Term. If Tenant timely exercises the Cancellation Option, then (1) on or before Cancellation Date, Tenant shall vacate and surrender the Premises to Landlord, in a good and broom clean condition, free of all debris, with all furniture, furnishings and other personal property removed therefrom, and otherwise in accordance with the provisions of this Lease regarding surrender of the Premises upon the expiration or sooner termination of the Lease, and (2) effective as of the Cancellation Date, Landlord and Tenant shall be released of further obligations under the Lease, except for those accrued but unpaid, for reconciliations of Additional Rent to be made following delivery of the Stateme...
CANCELLATION OPTION. Parent understands that this contract may be cancelled in writing, without penalty (except forfeiture of the reservation deposit) provided that written cancellation notification is received by the Director of Admission on or before May 31, 2016.
CANCELLATION OPTION. So long as no event of default has occurred and continues under the Master Lease or any Schedule thereto and so long as Lessee gives Lessor written notice of its election under this paragraph at least 90 days, but no more than 180 days, prior to the Cancellation Date (as defined below), Lessee may, subject the provisions of this paragraph, elect to cancel this Schedule and return all of the Equipment. Lessee may not cancel the Schedule under the terms of this paragraph unless and until all of the following conditions have been satisfied in full on or before the Cancellation Date:
CANCELLATION OPTION. Upon at least one hundred eighty (180) but not more than two hundred seventy (270) days written notice to Lessor prior to the Basic Term Expiration Date (the “Notice Date”), Lessee may cancel the Agreement (the “Cancellation Option”) with respect to all (but not less than all) of the Equipment on this Schedule. If all of the terms and conditions of this Section are not fulfilled, this Lease shall continue in full force and effect and Lessee shall continue to be liable for all obligations thereunder, including, without limitation, the obligation to continue paying rent. Lessee shall be deemed to have waived this option if it fails to timely provide Lessor with the required written notice of its election to exercise the same.
CANCELLATION OPTION. In the event of insolvency of Allianz Life, the Ceding Company, upon written notice within ninety (90) days, may at its option cancel this agreement effective retroactively to the date of such insolvency as it relates to the renewal of existing reinsurance. Allianz Life shall then make proper financial adjustment from the effective cancellation date and remain liable for the payment of any claim which had occurred prior to the date of cancellation whether or not due proof of such claim had actually been received by such date.
CANCELLATION OPTION. In every case under 14.6.1, if none of those options can reasonably be accomplished, or if the continued use of the infringing items is impracticable, State may cancel the relevant Order or terminate the Contract and Contractor shall take back the infringing items. If State does cancel the Order or terminate the Contract, Contractor shall refund to State: (a) for any software created for State under the Contract, the amount State paid to Contactor for creating it; (b) for all other Materials, the net book value of the product provided according to generally accepted accounting principles; and (c) for Services, the amount paid by State or an amount equal to 12 (twelve) months of charges, whichever is less. 14.6.3.
CANCELLATION OPTION. On the due date of the 12th Base Monthly Rental payment Lessee shall have the following options: 1) return the Equipment to the Lessor and pay Lessor via electronic funds transfer a cancellation fee equal to of $1,857,415.00 plus the Base Monthly Rental due on such date, plus any other amounts due; or 2) continue the Lease to its expiration.
CANCELLATION OPTION. After one hundred and twenty (120) days have elapsed from the appointment of a receiver or trustee to take over and conduct the business of the Company, whether in receivership, reorganization, bankruptcy, other action or proceeding, whether voluntary or involuntary, the City shall have the right to cancel this Agreement unless:
CANCELLATION OPTION. Tenant shall have the option to terminate this Lease at the end of the thirty-six (36) month of the Lease Term provided Tenant has notified Landlord in writing on or before the thirtieth (30th) month of the Lease Term, of its election to terminate this Lease. Except as hereinafter amended, the Lease remains in full force and effect, unmodified. In the event of any conflict between a provision of this Addendum or the Lease, the provisions of the Addendum shall prevail.
CANCELLATION OPTION. Tenant shall have the option to cancel the Lease on the last day of the 180th month of the Primary Term ("Cancellation Date") by delivering written notice to Landlord of its irrevocable election to cancel the Lease on or before the last day of the 162nd month of the Primary Term. If Tenant exercises its option to cancel the Lease, it shall pay Landlord a cancellation fee on the Cancellation Date equal to the greater of (i) 50% of the annual Basic Rent for the Lease Year in which the Cancellation Date occurs, or (ii) the principal and interest outstanding on the Note as of the date of Closing (treating the Cancellation Date as if it was a Closing as defined in the Note.)
