Landlord Termination Right Clause Samples

Landlord Termination Right. Landlord shall have a right to terminate the Lease upon three (3) years prior written notice to the Tenant and payment of Tenant's unamortized initial construction costs of the Tenant Work as of the actual lease termination date, computed in accordance with GAAP.

Landlord Termination Right. Notwithstanding anything contained herein to the contrary, in the event the damage or destruction of a material portion of the Building or the Premises, as the case may be, is not fully covered by the insurance proceeds received by Landlord, or if there are insufficient proceeds after any required payments to mortgagees or lessors, Landlord may, within sixty (60) days of such casualty, terminate this Lease by written notice to Tenant, effective as of the date of such casualty. If Landlord does not elect to terminate this Lease, this Lease shall remain in full force and effect (subject to the abatement described in Section 15.2 herein) and the Building shall be diligently repaired and restored in accordance with Section 15.1 hereof.

Landlord Termination Right. Landlord shall have the right to terminate this Lease upon 30 days advance written notice to Tenant.

Landlord Termination Right of the Original Lease is hereby deleted in its entirety and is of no further force or effect.

Landlord Termination Right. If (i) the Leased Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Gross Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Leased Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction (i.e., damages resulting in an Estimated Restoration Date more than twelve (12) months from the date of damage as set forth in an engineering estimate provided by Landlord) or demolition of the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee or ground lessor shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee or ground lessor regarding such situation (not to exceed a total of one hundred twenty days), following such fire or other casually; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is received by Tenant; provided that in the case of a termination by Landlord under clause (i) or (iii) above, if Tenant may continue to lawfully occupy the undamaged portion of the Leased Premises in accordance with all applicable building codes and other legal requirements notwithstanding such casualty, Tenant may elect, by notice to Landlord given within thirty (30) days after the date that Landlord gives such termination notice, to extend such effective termination date as to the entire undamaged portion of the Leased Premises (provided that such undamaged portion includes full floors covering more than 50% of the Leased Premises existing prior to such casualty that are contiguous to each other and that Landlord may elect to exclude any space on floors not contiguous to such undamaged full floors that Landlord deems necessary for lea...

Landlord Termination Right. The following new Paragraph 44 is added to the Lease:

Landlord Termination Right. During the continuance of the Landlord Termination Right Period (as defined in the Brookdale Guaranty), subject to the terms, conditions and restrictions of Section 16 of the Brookdale Guaranty, Landlord will have the right to terminate this Lease with respect to any or all of the Facilities, in which case the provisions of Section 7.4.12 shall pertain. Upon such termination, Minimum Rent shall be reduced by the then applicable Proportionate Share of such Minimum Rent applicable to the terminated Facilities.

Landlord Termination Right. If Tenant has not started construction of the Initial Improvements within two (2) years following Lease Commencement Date, then Landlord shall have the right to terminate this Agreement by delivery of sixty (60) days prior written notice to Tenant, and this Agreement shall automatically terminate six (6) month thereafter (the “Termination Date”) unless Tenant fulfills all conditions needed to obtain the Notice to Proceed with the Initial Improvements and actually begins construction of the Initial Improvements before the Termination Date (subject to any extension that may be agreed to by Landlord in its sole discretion). On the Lease Commencement Date, the Interim Sublease shall automatically terminate without further action by either party. Nothing in this Lease impacts Landlord’s rights under the Interim Lease before the Lease Commencement Date, including the right to terminate for default in accordance with its terms.

Landlord Termination Right. Section 16 of the Guaranty is hereby deleted in its entirety, and, for the avoidance of doubt, all references to the Landlord Termination Right Period and/or Qualified Property throughout the Guaranty are hereby deemed deleted.