Early Termination Option Sample Clauses

Early Termination Option. OBLIGATION TO PURCHASE; MID-TERM REMARKETING OPTION

Early Termination Option. Tenant(s) in good standing (those who are in compliance with the lease) have the option to terminate this lease prior to the normal end of term or during any future renewal by providing the Landlord all of the following a) a minimum 45 day written notice, b) providing the last date of occupancy and c) submitting certified funds (Cashier’s Check, money orders or wire transfer) as an “Early Termination Fee” in the amount of 150% of one month’s rent at the time notice is provided. Rent will be prorated on a daily basis through the revised end of term. Tenant is required to conform to all other terms of the lease or the Early Termination Option will be forfeit and the tenant will be responsible for the full amount of rent as allowed by the lease.

Early Termination Option. The Termination Fee payable by Tenant upon exercise of its Termination Option as set forth in Paragraph 12 in the First Amendment is increased to include all Leasing Costs incurred by Landlord in connection with this Amendment (using straight-line depreciation and an amortization rate of ten percent (10%) as therein set forth), plus, the Monthly Installment of Rent and Tenant’s Proportionate Share of the excess Expenses and Taxes for the Must-Take CB Space over the applicable Base Year (calendar year 2010) for each of calendar months May, June and July 2012.

Early Termination Option. Without limitation of the Lessee’s purchase obligation pursuant to Section 20.2, the Lessee may, at its option, on any Business Day following the Base Term Commencement Date but prior to the Lessee’s election to exercise the Return Option, purchase all, but not less than all, of the Leased Property (the “Early Termination Option”) at a price equal to the Break Even Price. In order to exercise its option to purchase the Leased Property pursuant to this Section 20.1, the Lessee shall give the Lessor not less than thirty (30) days’ prior written notice of such election which election, in each case, shall be irrevocable when made. Notwithstanding anything herein to the contrary, the Lessee shall not be permitted to exercise the Early Termination Option following the occurrence and during the continuance of an Event of Default unless it shall (i) elect the Early Termination Option on or before ten (10) Business Days following such Event of Default, and (ii) consummate the purchase of the Leased Property by Lessee (or its designee) before twenty (20) Business Days following such Event of Default. Upon receipt of the Break Even Price, the Leased Property shall be transferred to the Lessee (or its designee) pursuant to Section 23.11.

Early Termination Option. Paragraph 12 in the First Amendment is revised as follows: (a) The Early Termination Date is extended to December 31, 2014. (b) The Termination Option shall apply to the Premises in its entirety (including Suite 180). (c) That portion of the Termination Fee which is calculated by reference to payment of three (3) months rent is revised to equal the Monthly Installment of Rent and Tenant’s Proportionate Share of (i) the amount by which Expenses exceed Expenses paid or incurred in the applicable Base Year (Expenses) (namely, calendar year 2011 with respect to the Existing Premises and calendar year 2013 with respect to Suite 180) and (ii) the amount by which Taxes exceeds Taxes paid or incurred in the applicable Base Year (Taxes) (namely, Taxes for January 1, 2011 to December 31, 2011 with respect to the Existing Premises and Taxes for January 1, 2013 to December 31, 2013 with respect to Suite 180) for each of calendar months January, February and March 2015. The amount of the Termination Fee shall be confirmed by Landlord within thirty (30) of receipt of written request therefor, which request shall be given by Tenant no earlier than March 1, 2014 and Landlord’s confirmation of Tenant’s Proportionate Share of the excess Expenses and Taxes over the applicable Base Years as aforesaid shall be calculated by reference to Landlord’s then budgeted Expenses and Taxes for calendar year 2014. (d) The Termination Fee payable by Tenant upon exercise of its Termination Option as set forth in Paragraph 12 in the First Amendment (as amended) is increased to include all Leasing Costs incurred by Landlord in connection with this Amendment (using straight-line depreciation and an amortization rate of ten percent (10%) as therein set forth), plus, the Monthly Installment of Rent for Suite 180 and Tenant’s Proportionate Share (namely, 6.49%) of (i) the amount by which Expenses exceed Expenses paid or incurred in Base Year (Expenses) (calendar year 2013) and (ii) the amount by which Taxes exceeds Taxes paid or incurred in Base Year (Taxes) (Taxes for January 1, 2013 to December 2013) for each of calendar months January, February and March 2015 (calculated by reference to Landlord’s then budgeted Expenses and Taxes for calendar year 2014).

Early Termination Option. Tenant shall have the right to terminate this Lease at the end of twenty-four (24) months after the Commencement Date by providing written notice to the Landlord by the end of the twenty-first (21st) month after the Commencement Date along with payment of a fixed termination fee of twenty thousand dollars ($20,000).

Early Termination Option. Provided that neither this Lease nor the Term for the applicable Aircraft has otherwise terminated, Lessee may, by not less than five Business Days’ prior written notice delivered to Lessor (which notice shall be irrevocable), request that Lessor prepay in full the Notes in respect of (x) any Aircraft or (y) all of the Aircraft, in each case on the Business Day specified in such notice (the “Voluntary Termination Date”). In such event, Lessor shall promptly give notice of its election to prepay the relevant Notes on such date as shall be agreed by Lessee and Lessor. On the Voluntary Termination Date, the Lessee shall pay or cause to be paid (A) in the case of the preceding clause (x), an amount sufficient to permit Lessor to pay the Note Value for the applicable Aircraft as of such date, together with all accrued but unpaid Rent in respect of such Aircraft and all other amounts then due and payable by Lessee under the Operative Documents and (B) in the case of the preceding clause (y), an amount sufficient to permit Lessor to pay the aggregate of the Note Values for all of the Aircraft as of such date, together with all accrued but unpaid Rent, if any, and all other amounts then due and payable by Lessee under the Operative Documents. As a condition to any purchase of an Aircraft pursuant to the foregoing, the outstanding principal and interest on the Notes Allocated To such Aircraft, together with all other amounts then due and payable hereunder and under the other Operative Documents, shall have been (or shall concurrently be) paid in full. Upon payment in full of the amounts payable under this Section 3(e) in respect of an Aircraft, the Term for such Aircraft shall end, and Lessor shall transfer title to such Aircraft to Lessee or its designee in accordance with Section 5(b).

Early Termination Option. Tenant shall have an option to terminate this Lease prior to the expiration of the Primary Lease Term at any time after April 30, 2012. Tenant shall provide written notice to Landlord of its intention to exercise such early termination option at least 60 days prior to the requested termination date and, with the written notice, Tenant shall pay a termination fee representing liquidated damages to the Landlord of Fifty Thousand U.S. Dollars ($50,000).

Early Termination Option. 71 Section 14.2. Required Purchase..................................................................... 72