Early Termination Option Sample Clauses
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Early Termination Option. Provided that (i) no Default exists at the time of Tenant’s delivery of the Early Termination Notice (as defined below), (ii) no Default under the Lease occurs between the date of delivery of the Early Termination Notice and the Early Termination Date (hereinafter defined); and (iii) Tenant has not assigned its interest in the Lease or sublet more than fifty percent (50%) of the Rentable Area of the Premises (except to an Affiliate Transferee), then Tenant shall have the one-time right to terminate the Lease (the “Early Termination Option”) effective as of the last day of the sixth (6th) Lease Year (the “Early Termination Date”). Tenant may only exercise the Early Termination Option by delivering an irrevocable written notice of termination to Landlord on or before the date which is twelve (12) full calendar months prior to the Early Termination Date (the “Early Termination Notice Delivery Date”). In the event Tenant elects to exercise the Early Termination Option, Tenant shall pay to Landlord a termination fee (the “Early Termination Fee”) equal to the sum of the unamortized balance, as of the Termination Date, of all Lease Costs (hereinafter defined) and, if applicable, any such Lease Costs attributable to the Offered Space Lease Costs and the Expansion Space Lease Costs. Assuming that Tenant does not exercise its Preferential Right or the Expansion Option, the Early Termination Fee would be $1,114,688.94. For purposes of calculating the Early Termination Fee, the term “
Early Termination Option. OBLIGATION TO PURCHASE; MID-TERM REMARKETING OPTION
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. Paragraph 12 in the First Amendment is revised as follows:
(a) The Early Termination Date is extended by one (1) year to April 30, 2013.
(b) The Termination Option shall apply to the Premises in its entirety (including Suite 110 under Paragraph 9 of the Fourth Amendment as amended by this Paragraph 11).
(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 Base Year (Expenses) (calendar year 2011) and (ii) the amount by which Taxes exceeds Taxes paid or incurred in Base Year (Taxes) (Taxes for January 1, 2011 to December 2011) for each of calendar months May, June and July 2013. 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 2013.
(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 ▇▇▇▇▇ ▇▇▇ ▇▇▇ ▇▇▇▇▇ ▇▇▇ and Tenant’s Proportionate Share (namely, 11.19%) of (i) the amount by which Expenses exceed Expenses paid or incurred in Base Year (Expenses) (calendar year 2011) and (ii) the amount by which Taxes exceeds Taxes paid or incurred in Base Year (Taxes) (Taxes for January 1, 2011 to December 2011) for each of calendar months May, June and July 2013.
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. 71 Section 14.2. Required Purchase..................................................................... 72
Early Termination Option. As long as no event of default exists or will exist given the passage of time or the giving of notice or both, Lessee will, with ninety (90) days prior written notice, have the option to terminate this Rental Schedule on:
a) June 9, 2001 (the "First Early Termination Date") by paying Lessor an amount equal to $376,878.87 (30% of the Acquisition Cost of the Equipment) plus all other amounts then due and payable under the Lease as of the First Early Termination Date and return the Equipment to Lessor. Such Early Termination Option purchase amount includes consideration to Lessor for Lessee's recapture of the tax benefits; or
b) June 9, 2002 (the "Second Early Termination Date") by paying Lessor an amount equal to $226,127.32 (18% of the Acquisition Cost of the Equipment) plus all other amounts then due and payable under the Lease as of the Second Early Termination Date and return the Equipment to Lessor. Such Early Termination Option purchase amount includes consideration to Lessor for Lessee's recapture of the tax benefits.
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. 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. Unless an Event of Default under the Lease has occurred and is continuing, Lessee may, upon not less than sixty (60) but no more than one hundred eighty (180) days prior notice to Lessor, exercise the Early Termination Option on a Rental Payment Date specified in such notice, provided that a Lessee that is a Government Body may only exercise the Early Termination Option with the consent of Master Lessee, which consent shall be provided in writing to Lessee and Lessor. On the date specified in Lessee’s notice of its desire to exercise the Early Termination Option, Lessee shall pay to Lessor the Termination Value corresponding to the Rental Payment Date on which the Lease Term is to end. Upon payment of the Termination Value, together with any and all other sums due hereunder with respect to the Equipment to be released from ▇▇▇▇▇▇’s security interest (the “Released Equipment”), Lessor shall release its security interest in and any other claim against the Released Equipment and transfer to Lessee all of Lessor’s right, title and interest in and to the Released Equipment free of any lien or claim arising by, through or under Lessor. After exercise of the Early Termination Option, (i) if any Equipment remains under the Lease, Rental Payments and Termination Values shall be prorated by Equipment Cost, or (ii) if no Equipment remains under the Lease, the Lease shall be terminated and the parties shall have no further liability thereunder.