Common use of Landlord's Right to Terminate Lease Clause in Contracts

Landlord's Right to Terminate Lease. (A) Landlord shall have the right, at any time, for any reason or for no reason, at its sole discretion, by giving notice (the "Termination Notice") to Tenant, to terminate this lease as set forth in this Article with the same effect as if the effective date of such termination were the Expiration Date. The right contained in this Article is in addition to, and not a replacement for, Landlord's rights to terminate this lease elsewhere provided for herein by reason of Tenant's default or otherwise. If Landlord exercises its right to terminate this lease under this Article, Tenant shall, on or before the Termination Date (as hereinafter defined), vacate and surrender possession of the demised premises and all trade fixtures, equipment and personal property therein (the "Internal MMR Equipment") to Landlord in good order and condition (except for reasonable wear and tear and damage caused by casualty not required by this lease to be repaired by Tenant), and also including, unless and to the extent Landlord otherwise specifies in the Termination Notice, the right to use, as provided in Section (C), those trade fixtures, equipment and other personal property located anywhere in the Building (including on the roof or set-backs thereof), but not in the demised premises, that are required to operate the demised premises as a Meet-Me Room (collectively, the "External MMR Equipment"), which delivery and right to use shall be free and clear of all liens, encumbrances, rights, privileges, tenancies, occupancies and rights of occupancy of any kind whatsoever (other than Meet-Me Room Licenses). The External MMR Equipment does not include any equipment located in or servicing the space subject to the 19th Floor Lease that is not necessary to operate the demised premises as a Meet-Me Room in the manner in which it was being operated by Tenant prior to delivery of the Termination Notice. In addition, unless and to the extent Landlord otherwise specifies in the Termination Notice, Tenant shall unconditionally assign (or cause to be assigned) to Landlord all Meet-Me Room Licenses and other agreements to which it or any Provider may be a party relating to the demised premises. Tenant will also deliver to Landlord original counterparts of all such assigned Meet-Me Room Licenses and other agreements and originals or photocopies of all relevant correspondence. Tenant shall pay to Landlord, promptly after the amount thereof has been determined, the amount of any Meet-Me Room Fees and Transport Fees under Meet-Me Room Licenses and other agreements so assigned to Landlord that are allocable to any period after the Termination Date.

Appears in 1 contract

Samples: Agreement (Fibernet Telecom Group Inc\)

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Landlord's Right to Terminate Lease. If Tenant desires to assign its interest in this Lease or to sublease all or any part of the Premises, Tenant shall notify Landlord in writing. This notice shall be accompanied by: (Aa) a statement setting forth the name and business of the proposed assignee or subtenant; (b) an executed copy of the proposed assignment or sublease (and any collateral agreements) setting forth all of the terms and the financial details of the sublease or assignment (including, without limitation, the term, the rent and any security deposit, and amounts payable for Tenant's property and the common use of any personnel or equipment); (c) financial statements acceptable to Landlord and other information requested by Landlord relating to the proposed assignee or subtenant; and (d) any other information concerning the proposed assignment or sublease which Landlord may reasonably request. If Tenant proposes to assign this Lease or sublet twenty five percent (25%) or more of the Premises, Landlord shall have the right, at any time, for any reason or for no reason, at in its sole and absolute discretion, by giving notice (the "Termination Notice") to Tenant, notify Tenant of its intent to terminate this lease Lease on written notice to Tenant within thirty (30) days after receipt of Tenant's notice and the information described above or the receipt of any additional information requested by Landlord. If Tenant fails to withdraw the proposed assignment or sublease within five (5) days after the date of Landlord's Notice of Intent to Terminate, if Landlord elects to terminate this Lease, this Lease shall terminate as of the effective date of the proposed assignment or commencement of the term of the proposed sublease as set forth in this Article Tenant's notice, and Landlord shall have the right (but no obligation to enter into a direct lease with the same effect as if the effective date of such termination were the Expiration Dateproposed assignee or subtenant). The right contained in this Article is in addition to, and not a replacement for, Tenant may withdraw its request for Landlord's rights to terminate this lease elsewhere provided for herein by reason of Tenant's default or otherwise. If Landlord exercises its right to terminate this lease under this Article, Tenant shall, on or before the Termination Date (as hereinafter defined), vacate and surrender possession of the demised premises and all trade fixtures, equipment and personal property therein (the "Internal MMR Equipment") to Landlord in good order and condition (except for reasonable wear and tear and damage caused by casualty not required by this lease to be repaired by Tenant), and also including, unless and to the extent Landlord otherwise specifies in the Termination Notice, the right to use, as provided in Section (C), those trade fixtures, equipment and other personal property located anywhere in the Building (including on the roof or set-backs thereof)consent at any time prior to, but not in the demised premisesafter, that are required to operate the demised premises as Landlord delivers a Meet-Me Room (collectively, the "External MMR Equipment"), which delivery and right to use shall be free and clear written notice of all liens, encumbrances, rights, privileges, tenancies, occupancies and rights of occupancy of any kind whatsoever (other than Meet-Me Room Licenses). The External MMR Equipment does not include any equipment located in or servicing the space subject to the 19th Floor Lease that is not necessary to operate the demised premises as a Meet-Me Room in the manner in which it was being operated by Tenant prior to delivery of the Termination Notice. In addition, unless and to the extent Landlord otherwise specifies in the Termination Notice, Tenant shall unconditionally assign (or cause to be assigned) to Landlord all Meet-Me Room Licenses and other agreements to which it or any Provider may be a party relating to the demised premises. Tenant will also deliver to Landlord original counterparts of all such assigned Meet-Me Room Licenses and other agreements and originals or photocopies of all relevant correspondence. Tenant shall pay to Landlord, promptly after the amount thereof has been determined, the amount of any Meet-Me Room Fees and Transport Fees under Meet-Me Room Licenses and other agreements so assigned to Landlord that are allocable to any period after the Termination Datetermination.

Appears in 1 contract

Samples: Lease for Amberglen Business Center by And (Gemstone Systems Inc)

Landlord's Right to Terminate Lease. (A) Landlord shall have the right, at any time, for any reason or for no reason, at its sole discretion, by giving notice (the "Termination Notice") to Tenant, to terminate this lease as set forth in this Article with the same effect as if the effective date of such termination were the Expiration Date. The right contained in this Article is in addition to, and not a replacement for, Landlord's rights to terminate this lease elsewhere provided for herein by reason of Tenant's default or otherwise. If Landlord exercises its right to terminate this lease under this Article, Tenant shall, on or before the Termination Date (as hereinafter defined), vacate and surrender possession of the demised premises and all trade fixtures, equipment and personal property therein (the "Internal MMR Equipment") to Landlord in good order and condition (except for reasonable wear and tear and damage caused by casualty not required by this lease to be repaired by Tenant), and also including, unless and to the extent if Landlord otherwise specifies so requests in the Termination Notice, the right to use, as provided in Section (C), those trade fixtures, equipment and other personal property located anywhere in the Building (including on the roof or set-backs thereof), but not in the demised premises, that are is required to operate the demised premises as a Meet-Me Room (collectively, the "External MMR Equipment")) as Landlord may specify, which delivery and right to use shall be free and clear of all liens, encumbrances, rights, privileges, tenancies, occupancies and rights of occupancy of any kind whatsoever (other than Meet-Me Room LicensesLicenses)(subject, however, to Section (C)). The External MMR Equipment does not include any equipment located in or servicing the space subject to the 19th Floor Lease that is not necessary to operate the demised premises as a Meet-Me Room in the manner in which it was being operated by Tenant prior to delivery of the Termination Notice. In addition, unless and to the extent if Landlord otherwise specifies so requests in the Termination Notice, Tenant shall unconditionally assign (or cause to be assigned) to Landlord all Meet-Me Room Licenses and other agreements to which it or any Provider may be a party relating to the demised premisespremises as specified by Landlord (subject, however, to Section (D). Tenant will also deliver to Landlord original counterparts of all such assigned Meet-Me Room Licenses and other agreements and originals or photocopies of all relevant correspondence. Landlord shall be entitled to a credit against all amounts payable by Landlord to Tenant shall pay to Landlord, promptly after the amount thereof has been determined, under this Article or elsewhere in this lease in the amount of any Meet-Me Room Fees and Transport Fees under Meet-Me Room Licenses and other agreements so assigned to Landlord that are allocable to any period after the Termination Date.. If such credit exceeds the amount payable by Landlord to Tenant, then Tenant shall pay the shortfall to Landlord promptly after the amount thereof has been determined

Appears in 1 contract

Samples: Agreement (Fibernet Telecom Group Inc\)

Landlord's Right to Terminate Lease. (A) Landlord shall have the right, at any time, for any reason or for no reason, at its sole discretion, by giving notice (the "Termination Notice") to Tenant, to terminate this lease as set forth in this Article with the same effect as if the effective date of such termination were the Expiration Date. The right contained in this Article is in addition to, and not a replacement for, Landlord's ’s rights to terminate this lease elsewhere provided for herein by reason of Tenant's ’s default or otherwise. If Landlord exercises its right to terminate this lease under this Article, Tenant shall, on or before the Termination Date (as hereinafter defined), vacate and surrender possession of the demised premises and all trade fixtures, equipment and personal property therein (the "Internal MMR Equipment") to Landlord in good order and condition (except for reasonable wear and tear and damage caused by casualty not required by this lease to be repaired by Tenant), and also including, unless and to the extent Landlord otherwise specifies in the Termination Notice, the right to use, as provided in Section (C), those trade fixtures, equipment and other personal property located anywhere in the Building (including on the roof or set-backs thereof), but not in the demised premises, that are required to operate the demised premises as a Meet-Me Room (collectively, the "External MMR Equipment"), which delivery and right to use shall be free and clear of all liens, encumbrances, rights, privileges, tenancies, occupancies and rights of occupancy of any kind whatsoever (other than Meet-Me Room Licenses). The External MMR Equipment does not include any equipment located in or servicing the space subject to the 19th Floor Lease that is not necessary to operate the demised premises as a Meet-Me Room in the manner in which it was being operated by Tenant prior to delivery of the Termination Notice. In addition, unless and to the extent Landlord otherwise specifies in the Termination Notice, Tenant shall unconditionally assign (or cause to be assigned) to Landlord all Meet-Me Room Licenses and other agreements to which it or any Provider may be a party relating to the demised premises. Tenant will also deliver to Landlord original counterparts of all such assigned Meet-Me Room Licenses and other agreements and originals or photocopies of all relevant correspondence. Tenant shall pay to Landlord, promptly after the amount thereof has been determined, the amount of any Meet-Me Room Fees and Transport Fees under Meet-Me Room Licenses and other agreements so assigned to Landlord that are allocable to any period after the Termination Date.

Appears in 1 contract

Samples: Agreement (American Fiber Systems, Inc.)

Landlord's Right to Terminate Lease. (A) Landlord shall have the right, at any time, for any reason or for no reason, at its sole discretion, by giving notice (the "Termination Notice") to Tenant, to terminate this lease as set forth in this Article with the same effect as if the effective date of such termination were the Expiration Date. The right contained in this Article is in addition to, and not a replacement for, Landlord's ’s rights to terminate this lease elsewhere provided for herein by reason of Tenant's ’s default or otherwise. If Landlord exercises its right to terminate this lease under this Article, Tenant shall, on or before the Termination Date (as hereinafter defined), vacate and surrender possession of the demised premises and all trade fixtures, equipment and personal property therein (the "Internal MMR Equipment") to Landlord in good order and condition (except for reasonable wear and tear and damage caused by casualty not required by this lease to be repaired by Tenant), and also including, unless and to the extent if Landlord otherwise specifies so requests in the Termination Notice, the right to use, as provided in Section (C), those trade fixtures, equipment and other personal property located anywhere in the Building (including on the roof or set-backs thereof), but not in the demised premises, that are is required to operate the demised premises as a Meet-Me Room (collectively, the "External MMR Equipment")”) as Landlord may specify, which delivery and right to use shall be free and clear of all liens, encumbrances, rights, privileges, tenancies, occupancies and rights of occupancy of any kind whatsoever (other than Meet-Me Room LicensesLicenses)(subject, however, to Section (C)). The External MMR Equipment does not include any equipment located in or servicing the space subject to the 19th Floor Lease that is not necessary to operate the demised premises as a Meet-Me Room in the manner in which it was being operated by Tenant prior to delivery of the Termination Notice. In addition, unless and to the extent if Landlord otherwise specifies so requests in the Termination Notice, Tenant shall unconditionally assign (or cause to be assigned) to Landlord all Meet-Me Room Licenses and other agreements to which it or any Provider may be a party relating to the demised premisespremises as specified by Landlord (subject, however, to Section (D). Tenant will also deliver to Landlord original counterparts of all such assigned Meet-Me Room Licenses and other agreements and originals or photocopies of all relevant correspondence. Landlord shall be entitled to a credit against all amounts payable by Landlord to Tenant shall pay to Landlord, promptly after the amount thereof has been determined, under this Article or elsewhere in this lease in the amount of any Meet-Me Room Fees and Transport Fees under Meet-Me Room Licenses and other agreements so assigned to Landlord that are allocable to any period after the Termination Date.. If such credit exceeds the amount payable by Landlord to Tenant, then Tenant shall pay the shortfall to Landlord promptly after the amount thereof has been determined

Appears in 1 contract

Samples: Agreement (American Fiber Systems, Inc.)

Landlord's Right to Terminate Lease. If Tenant desires to assign ------------------------------------ its interest in this Lease or to sublease all or any part of the Premises, Tenant shall notify Landlord in writing. This notice shall be accompanied by: (Aa) a processing fee in the amount of $500.00; (b) a statement setting forth the name and business assignment or sublease (and any collateral agreements) setting forth all of the terms and the financial details of the sublease or assignment which shall not be effective less than ninety (90) days from the date of Tenant's notice (including, without limitation, the term, the rent and any security deposit, "key money", and amounts payable for Tenant's Property and the common use of any personnel or equipment); (d) financial statements certified by an independent certified public accountant and other information requested by Landlord relating to the proposed assignee or subtenant; and (e) any other information concerning the proposed assignment or sublease which Landlord may reasonably request. If Tenant proposes to assign this Lease or sublet all or substantially all of the Premises, Landlord shall have the right, at any time, for any reason or for no reason, at in its sole and absolute discretion, by giving notice (the "Termination Notice") to Tenant, to terminate this lease Lease on written notice to Tenant within ninety (90) days after receipt of Tenant's notice and the information described above or the receipt of any additional information requested by Landlord. If Landlord elects to terminate this Lease, this Lease shall terminate as of the effective date of the proposed assignment or commencement of the term of the proposed sublease as set forth in this Article Tenant's notice, and Landlord shall have the right (but no obligation) to enter into a direct lease with the same effect as if the effective date of such termination were the Expiration Date. The right contained in this Article is in addition toproposed assignee or subtenant, and not a replacement for, Tenant may withdraw its request for Landlord's rights to terminate this lease elsewhere provided for herein by reason of Tenant's default or otherwise. If Landlord exercises its right to terminate this lease under this Article, Tenant shall, on or before the Termination Date (as hereinafter defined), vacate and surrender possession of the demised premises and all trade fixtures, equipment and personal property therein (the "Internal MMR Equipment") to Landlord in good order and condition (except for reasonable wear and tear and damage caused by casualty not required by this lease to be repaired by Tenant), and also including, unless and to the extent Landlord otherwise specifies in the Termination Notice, the right to use, as provided in Section (C), those trade fixtures, equipment and other personal property located anywhere in the Building (including on the roof or set-backs thereof)consent at any time prior to, but not in the demised premisesafter, that are required to operate the demised premises as Landlord delivers a Meet-Me Room (collectively, the "External MMR Equipment"), which delivery and right to use shall be free and clear written notice of all liens, encumbrances, rights, privileges, tenancies, occupancies and rights of occupancy of any kind whatsoever (other than Meet-Me Room Licenses). The External MMR Equipment does not include any equipment located in or servicing the space subject to the 19th Floor Lease that is not necessary to operate the demised premises as a Meet-Me Room in the manner in which it was being operated by Tenant prior to delivery of the Termination Notice. In addition, unless and to the extent Landlord otherwise specifies in the Termination Notice, Tenant shall unconditionally assign (or cause to be assigned) to Landlord all Meet-Me Room Licenses and other agreements to which it or any Provider may be a party relating to the demised premises. Tenant will also deliver to Landlord original counterparts of all such assigned Meet-Me Room Licenses and other agreements and originals or photocopies of all relevant correspondence. Tenant shall pay to Landlord, promptly after the amount thereof has been determined, the amount of any Meet-Me Room Fees and Transport Fees under Meet-Me Room Licenses and other agreements so assigned to Landlord that are allocable to any period after the Termination Datetermination.

Appears in 1 contract

Samples: Office Lease (Vsource Inc)

Landlord's Right to Terminate Lease. (A) In the event of any default by Tenant, then in addition to any other remedies available to Landlord at law or in equity, including, without limitation, injunction, Landlord shall have the right, at any time, for any reason or for no reason, at its sole discretion, by giving notice (the "Termination Notice") to Tenant, immediate option to terminate this lease as set forth in this Article with the same effect as if the effective date Lease and all rights of Tenant hereunder by giving written notice of such termination were intention to terminate. In the Expiration Date. The right contained in this Article is in addition to, and not a replacement for, Landlord's rights event that Landlord shall elect so to terminate this lease elsewhere provided Lease, then Landlord may recover from Tenant: (a) the worth at the time of award of any unpaid rent which had been earned at the time of such termination; plus (b) the worth at the time of award of the amount by which the unpaid rent would have been earned after termination until the time of award exceeds the fair market rental value of the Premises; plus (c) the worth at the time of award of the amount by which the unpaid rent for herein the balance of the Term after the time of award exceeds the fair market rental value of the Premises; plus (d) any other amount necessary to compensate Landlord for all the detriment proximately caused by reason of Tenant's default or otherwise. If Landlord exercises failure to perform its right to terminate this lease obligations under this ArticleLease or which in the ordinary course would be likely to result therefrom; plus (e) at Landlord's election, Tenant shall, on such other amounts in addition to or before the Termination Date (as hereinafter defined), vacate and surrender possession in lieu of the demised premises and all trade fixtures, equipment and personal property therein (the "Internal MMR Equipment") foregoing as may be permitted from time to time by applicable law. The amounts recoverable by Landlord in good order accordance with and condition (except for reasonable wear and tear and damage caused by casualty not required by this lease to be repaired by Tenant), and also including, unless and pursuant to the extent Landlord otherwise specifies in the Termination Notice, the right to use, as provided in Section (C), those trade fixtures, equipment and other personal property located anywhere in the Building (including on the roof or set-backs thereof), but not in the demised premises, that are required to operate the demised premises as a Meet-Me Room (collectively, the "External MMR Equipment"), which delivery and right to use preceding sentence shall be free and clear denied actual damages for the purposes of all liens, encumbrances, rights, privileges, tenancies, occupancies and rights of occupancy of any kind whatsoever (other than Meet-Me Room Licensesthis Paragraph B(1). The External MMR Equipment does not term "rent" as used herein shall be deemed to include Base Rent, Additional Rent and any equipment located in or servicing the space subject other sums required to be paid by Tenant pursuant to the 19th Floor Lease that is not necessary to operate terms of this Lease. Landlord shall reasonably compute all such sums, other than the demised premises as a Meet-Me Room in Base Rent, on the manner in which it was being operated basis of the operating history of the Premises and the amounts payable by Tenant prior to delivery default. As used in clause (a) and (b) above, the "worth at the time of award" is computed by allowing interest at the Interest Rate. As used in clause (c) above, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Termination NoticeFederal Reserve Bank having jurisdiction over the area of the Premises at the time of award plus two percent (2%). In addition, unless and to the extent Landlord otherwise specifies in the Termination Notice, Amount owed by Tenant shall unconditionally assign (or cause to be assigned) to Landlord all Meet-Me Room Licenses and other agreements to which it or any Provider may be a party relating to the demised premises. Tenant will also deliver to Landlord original counterparts of all such assigned Meet-Me Room Licenses and other agreements and originals or photocopies of all relevant correspondence. Tenant shall pay limited to Landlord, promptly after the amount thereof has been determined, the amount of any Meet-Me Room Fees and Transport Fees under Meet-Me Room Licenses and other agreements so assigned to Landlord that are allocable to any period after the Termination Date's actual damages.

Appears in 1 contract

Samples: Assignment and Assumption of Lease (Aei Income & Growth Fund Xxi LTD Partnership)

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Landlord's Right to Terminate Lease. If Tenant desires to assign its interest in this Lease or to sublease all or any part of the Premises, Tenant shall notify Landlord in writing. This notice shall be accompanied by: (Aa) a processing fee in the amount of $500.00; (b) a statement setting forth the name and business of the proposed assignee or subtenant; (c) a copy of the proposed assignment or sublease (and any collateral agreements) setting forth all of the terms and the financial details of the sublease or assignment which shall not be effective less than thirty (30) days from the date of Tenant’s notice (including, without limitation, the term, the rent and any security deposit, “key money”, and amounts payable for Tenant’s Property and the common use of any personnel or equipment); (d) financial statements certified by an independent certified public accountant and other information, including past years’ tax returns, requested by Landlord relating to the proposed assignee or subtenant; and (e) any other information concerning the proposed assignment or sublease which Landlord may reasonably request. If Tenant proposes to assign this Lease or sublet all or substantially all of the Premises, Landlord shall have the right, at any time, for any reason or for no reason, at in its sole and absolute discretion, by giving notice (the "Termination Notice") to Tenant, to terminate this lease Lease on written notice to Tenant within thirty (30) days after receipt of Tenant’s notice and the information described above or the receipt of any additional information requested by Landlord. If Landlord elects to terminate this Lease, this Lease shall terminate as of the effective date of the proposed assignment or commencement of the term of the proposed sublease as set forth in this Article Tenant’s notice, and Landlord shall have the right (but no obligation) to enter into a direct lease with the same effect as if the effective date of such termination were the Expiration Dateproposed assignee or subtenant. The right contained in this Article is in addition Tenant may withdraw its request for Landlord’s consent at any time prior to, and not a replacement for, Landlord's rights to terminate this lease elsewhere provided for herein by reason of Tenant's default or otherwise. If Landlord exercises its right to terminate this lease under this Article, Tenant shall, on or before the Termination Date (as hereinafter defined), vacate and surrender possession of the demised premises and all trade fixtures, equipment and personal property therein (the "Internal MMR Equipment") to Landlord in good order and condition (except for reasonable wear and tear and damage caused by casualty not required by this lease to be repaired by Tenant), and also including, unless and to the extent Landlord otherwise specifies in the Termination Notice, the right to use, as provided in Section (C), those trade fixtures, equipment and other personal property located anywhere in the Building (including on the roof or set-backs thereof), but not in the demised premisesafter, that are required to operate the demised premises as Landlord delivers a Meet-Me Room (collectively, the "External MMR Equipment"), which delivery and right to use shall be free and clear written notice of all liens, encumbrances, rights, privileges, tenancies, occupancies and rights of occupancy of any kind whatsoever (other than Meet-Me Room Licenses). The External MMR Equipment does not include any equipment located in or servicing the space subject to the 19th Floor Lease that is not necessary to operate the demised premises as a Meet-Me Room in the manner in which it was being operated by Tenant prior to delivery of the Termination Notice. In addition, unless and to the extent Landlord otherwise specifies in the Termination Notice, Tenant shall unconditionally assign (or cause to be assigned) to Landlord all Meet-Me Room Licenses and other agreements to which it or any Provider may be a party relating to the demised premises. Tenant will also deliver to Landlord original counterparts of all such assigned Meet-Me Room Licenses and other agreements and originals or photocopies of all relevant correspondence. Tenant shall pay to Landlord, promptly after the amount thereof has been determined, the amount of any Meet-Me Room Fees and Transport Fees under Meet-Me Room Licenses and other agreements so assigned to Landlord that are allocable to any period after the Termination Datetermination.

Appears in 1 contract

Samples: Office Lease (Compumed Inc)

Landlord's Right to Terminate Lease. If Tenant desires to assign its interest in this Lease or to sublease all or any part of the Premises, Tenant shall notify Landlord in writing. This notice shall be accompanied by: (Aa) a statement setting forth the name and business of the proposed assignee or subtenant; (b) a copy of the proposed assignment or sublease (and any collateral agreements) setting forth all of the terms and the financial details of the sublease or assignment (including, without limitation, the term, the rent and any security deposit, "key money", and amounts payable for Tenant's Property and the common use of any personnel or equipment); (c) financial statements certified by an independent certified public accountant and other information requested by Landlord relating to the proposed assignee or subtenant; and (d) any other information concerning the proposed assignment or sublease which Landlord may reasonably request. If Tenant proposes to assign this Lease or sublet a portion of the Premises exceeding fifty percent (50%) of the total Rentable Square Footage of the Premises, Landlord shall have the right, at any time, for any reason or for no reason, at in its sole and absolute discretion, by giving notice (the "Termination Notice") to Tenant, to terminate this lease Lease, with respect to the entire Premises in the case of an assignment, or with respect to a sublease, the portion of the Premises to be sublet, on written notice to Tenant within thirty (30) days after receipt of Tenant's notice and the information described above or the receipt of any additional information requested by Landlord. If Landlord elects to so terminate this Lease as to the Premises, or portion thereof, this Lease shall terminate as of the effective date of the proposed assignment or commencement of the term of the proposed sublease as set forth in this Article Tenant's notice, and Landlord shall have the right (but no obligation) to enter into a direct lease with the same effect as if the effective date of such termination were the Expiration Dateproposed assignee or subtenant. The right contained in this Article is in addition to, and not a replacement for, Tenant may withdraw its request for Landlord's rights to terminate this lease elsewhere provided for herein by reason of Tenant's default or otherwise. If Landlord exercises its right to terminate this lease under this Article, Tenant shall, on or before the Termination Date (as hereinafter defined), vacate and surrender possession of the demised premises and all trade fixtures, equipment and personal property therein (the "Internal MMR Equipment") to Landlord in good order and condition (except for reasonable wear and tear and damage caused by casualty not required by this lease to be repaired by Tenant), and also including, unless and to the extent Landlord otherwise specifies in the Termination Notice, the right to use, as provided in Section (C), those trade fixtures, equipment and other personal property located anywhere in the Building (including on the roof or set-backs thereof)consent at any time prior to, but not in the demised premisesafter, that are required to operate the demised premises as Landlord delivers a Meet-Me Room (collectively, the "External MMR Equipment"), which delivery and right to use shall be free and clear written notice of all liens, encumbrances, rights, privileges, tenancies, occupancies and rights of occupancy of any kind whatsoever (other than Meet-Me Room Licenses). The External MMR Equipment does not include any equipment located in or servicing the space subject to the 19th Floor Lease that is not necessary to operate the demised premises as a Meet-Me Room in the manner in which it was being operated by Tenant prior to delivery of the Termination Notice. In addition, unless and to the extent Landlord otherwise specifies in the Termination Notice, Tenant shall unconditionally assign (or cause to be assigned) to Landlord all Meet-Me Room Licenses and other agreements to which it or any Provider may be a party relating to the demised premises. Tenant will also deliver to Landlord original counterparts of all such assigned Meet-Me Room Licenses and other agreements and originals or photocopies of all relevant correspondence. Tenant shall pay to Landlord, promptly after the amount thereof has been determined, the amount of any Meet-Me Room Fees and Transport Fees under Meet-Me Room Licenses and other agreements so assigned to Landlord that are allocable to any period after the Termination Datetermination.

Appears in 1 contract

Samples: Office Building Lease (Santarus Inc)

Landlord's Right to Terminate Lease. If Tenant desires to assign its interest in this Lease or to sublease or any part of the Premises, Tenant shall notify Landlord in writing. This notice shall be accompanied by: (Aa) a statement setting forth the name and business of the proposed assignee or subtenant; (b) an executed copy of the proposed assignment or sublease (and any collateral agreements) setting forth all of the terms and the financial details of the sublease or assignment (including, without limitation, the term, the rent and any security deposit, and amounts payable for Tenant's property and the common use of any personnel or equipment); (c) financial statements certified by an independent certified public accountant and other information requested by Landlord relating to the proposed assignee or subtenant; and (d) any other information concerning the proposed assignment or sublease which Landlord may reasonably request. If Tenant proposes to 24 - AMBERGLEN STANDARD LEASE FORM - LEASE II assign this Lease or sublet twenty-five percent (25%) or more of the Premises ("Proposed Sublease Space"), Landlord shall have the right, at any time, for any reason or for no reason, at in its sole and absolute discretion, by giving notice (the "Termination Notice") to Tenant, notify Tenant in writing of its intent to terminate this lease Lease as to the Proposed Sublease Space only within thirty (3) days after receipt of Tenant's notice and the information described above or the receipt of any additional information requested by Landlord. If Tenant fails to withdraw the proposed assignment or sublease within ten (10) days after Landlord's notice of intent to terminate, the Landlord elects to terminate this Lease as to the Proposed Sublease Space, this Lease shall terminate as to such Space as of the effective date of the proposed assignment or commencement of the term of the proposed sublease as set forth in this Article Tenant's notice, and Landlord shall have the right (but no obligation) to enter into a direct lease with the same effect as if the effective date of such termination were the Expiration Dateproposed assignee or subtenant. The right contained in this Article is in addition to, and not a replacement for, Tenant may withdraw its request for Landlord's rights to terminate this lease elsewhere provided for herein by reason of Tenant's default or otherwise. If Landlord exercises its right to terminate this lease under this Article, Tenant shall, on or before the Termination Date (as hereinafter defined), vacate and surrender possession of the demised premises and all trade fixtures, equipment and personal property therein (the "Internal MMR Equipment") to Landlord in good order and condition (except for reasonable wear and tear and damage caused by casualty not required by this lease to be repaired by Tenant), and also including, unless and to the extent Landlord otherwise specifies in the Termination Notice, the right to use, as provided in Section (C), those trade fixtures, equipment and other personal property located anywhere in the Building (including on the roof or set-backs thereof)consent at any time prior to, but not in the demised premisesafter, that are required to operate the demised premises as Landlord delivers a Meet-Me Room (collectively, the "External MMR Equipment"), which delivery and right to use shall be free and clear written notice of all liens, encumbrances, rights, privileges, tenancies, occupancies and rights of occupancy of any kind whatsoever (other than Meet-Me Room Licenses). The External MMR Equipment does not include any equipment located in or servicing the space subject to the 19th Floor Lease that is not necessary to operate the demised premises as a Meet-Me Room in the manner in which it was being operated by Tenant prior to delivery of the Termination Notice. In addition, unless and to the extent Landlord otherwise specifies in the Termination Notice, Tenant shall unconditionally assign (or cause to be assigned) to Landlord all Meet-Me Room Licenses and other agreements to which it or any Provider may be a party relating to the demised premises. Tenant will also deliver to Landlord original counterparts of all such assigned Meet-Me Room Licenses and other agreements and originals or photocopies of all relevant correspondence. Tenant shall pay to Landlord, promptly after the amount thereof has been determined, the amount of any Meet-Me Room Fees and Transport Fees under Meet-Me Room Licenses and other agreements so assigned to Landlord that are allocable to any period after the Termination Datetermination.

Appears in 1 contract

Samples: Cascade Microtech Inc

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