Early Termination Option Sample Clauses

Early Termination Option. Tenant shall have the one-time option (“Early Termination Option”) to terminate this Lease in its entirety at the end of the seventh (7th) anniversary of the Commencement Date (“Early Termination Date”). Tenant may exercise its Early Termination Option only if it provides Landlord an early termination notice no less than twelve (12) months prior to the Early Termination Date. If Tenant properly exercises its Early Termination Option and pays the Early Termination Fee, and is not in default, then following the Early Termination Date, Tenant shall be fully and forever released and discharged from any and all obligations, covenants or liabilities of whatsoever kind or nature in law or equity or otherwise arising out of or in connection with this Lease except any obligation or liability accrued before the Early Termination Date including any indemnification obligation of Tenant. If Tenant exercises its Early Termination Option under this Section 2.18, Tenant shall pay to Landlord, no later than ninety (90) days prior to the Early Termination Date, an amount equal to the portion of the unamortized Tenant Improvement Allowance (as defined in Section 12.7 and Exhibit D) and leasing commissions (including Floor 12), plus an amount equal to nine (9) months Base Rent for year eight (8) of the Term (“Early Termination Fee”). For purposes of this Section 2.18, the Tenant Improvement Allowance and leasing commission shall amortize on a straight line basis over the ten (10) year Initial Term at six percent (6%) interest per annum, with the unamortized portion of the Tenant Improvement Allowance and the lease commission being the last 27 months of the Lease Term to take into account the payment of Base Rent through the first nine months of year eight of the Lease.

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

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 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. 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(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. Notwithstanding anything in this Lease to the contrary, provided no Event of Default exists upon either the exercise of the option to terminate, or upon the date of termination, Tenant shall have the option to terminate this Lease at the end of the eighty-fourth (84th) month following the Expansion Space Commencement Date, provided that (a) Tenant gives prior written notice of its intent to so terminate not later than the end of the seventy-fifth (75th) month following the Expansion Space Commencement Date; and (b) Tenant repays to Landlord an amount equal to the sum of the following: (i) the unamortized cost of the T.I. Allowance, free rent, and broker’s commissions, with such amount calculated in the same manner as the remaining principal balance of a fully amortizing loan bearing interest at the rate of six and one-half percent (6.5%) and having a ten (10) year term which commenced as of the Expansion Space Commencement Date, and (ii) the unamortized cost of any improvement allowance, free rent, and broker’s commissions paid or provided by Landlord for any additional space acquired by Tenant pursuant to Section 38(n), with such amount calculated in the same manner as the remaining principal balance of a fully amortizing loan bearing interest at the rate of six and one-half percent (6.5%) and having a term equal to the period from the commencement of such new space until the end of the initial term of this Lease (collectively, the “Early Termination Payment”). The Early Termination Payment is to be made concurrently with the rental payment due for the eighty-fourth (84th) month following the Expansion Space Commencement Date; (iii) Tenant pays Landlord an early termination fee in an amount equal to six (6) months of prepaid rental payments due for the eighty-fifth (85th) month through the end of the ninetieth (90th) month from the Expansion Space Commencement Date, such payment to be made concurrently with the rental payment due for the eighty-fourth (84th) month following the Expansion Space Commencement Date; and (iv) Tenant vacates the Premises on or before the end of the eighty-fourth (84th) month following the Expansion Space Commencement Date and leaves the Premises in the condition required by the Lease. For avoidance of doubt, the termination of this Lease pursuant to this provisions shall terminate any Tenant rights to space added to this Lease pursuant to Section 38(n).

Early Termination Option. Subject to the conditions contained herein, on (a) any Payment Date during the Term provided Lessee has not elected the Sale Option or (b) on any Business Day during the occurrence of an Event of Default of the types described in clause (ii) of the next sentence, Lessee may, at its option, purchase all, but not less than all, of the Leased Property (the "EARLY TERMINATION OPTION") at a price equal to the Purchase Amount. Lessee's right to purchase all of the Leased Property pursuant to this Section 18.1 shall terminate automatically and without notice upon (i) the occurrence of an Event of Default arising as a result of an Insolvency Event, or (ii) upon the occurrence of any other Event of Default, unless in the case of an Event of Default described in this clause (ii) Lessee delivers a written notice of its election to exercise this option to purchase not less than three (3) days prior to the date of the purchase and consummates the purchase within ten (10) Business Days following (x) delivery of a notice of an Event of Default by Lessee pursuant to Section 9.1(d)(i) of the Participation Agreement, or (y) Lessee's receipt of a written Purchase Acceleration Notice. "Purchase Acceleration Notice" shall mean a notice from Lessor or Administrative Agent to Lessee that an Event of Default has occurred. Lessee acknowledges that the Purchase Acceleration Notice shall apply solely to this Section 18.1 and will not affect the validity of any Event of Default or the Lessor's remedies at Section 16.2. In order to exercise its option to purchase the Leased Property pursuant to this Section 18.1 and except as provided for in the clause (ii) of the second sentence of this Section 18.1, Lessee shall give to Lessor and the Administrators not less than thirty (30) days' prior written notice of such election to exercise, which election shall be irrevocable when made. If the Lessee exercises its option pursuant to this Section 18.1 then, upon the Lessor's receipt of all amounts due in connection therewith, the Lessor shall transfer to the Lessee all of the Lessor's right, title and interest in and to the Leased Property in accordance with the procedures set forth in Section 21.1, such transfer to be effective as of the date specified in the Purchase Notice. The Lessor agrees that it shall cooperate with the Lessee in effecting any transfer to a designee of the Lessee pursuant to this Section 18.1.

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).