Common use of During an Optional Term Clause in Contracts

During an Optional Term. During an Optional Term, the Lessee shall have the right of Early Termination of the Lease at any time, provided that the Lessee is not in a status of Default (as defined in Section 17 below). To effectuate Early Termination during an Optional Term, the Lessee shall comply with the Notification of Termination requirements stated in Section 3.D above

Appears in 2 contracts

Sources: Lease Agreement, Lease Agreement