Mutual Break Option Clause Samples
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Mutual Break Option. Either the Landlord or the Tenant may terminate this lease by a serving a Break Notice on the other party at least 3 months before the Break Date specified in the Break Notice. Following service of a Break Notice this lease shall terminate on the Break Date. Termination of this lease on the Break Date shall not affect any other right or remedy that either party may have in relation to any earlier breach of this lease. If the Landlord leases or otherwise disposes of the Premises within one year of the Break Date to a chargepoint operator or similar which is not the Tenant (or a member of its group company), the Landlord shall pay on demand and on a full indemnity basis the amount calculated as the difference between outstanding costs of the chargepoint installation and the profits made by the chargepoint since the Rent Commencement Date as determined by the Tenant acting reasonably. If the whole or any part of the sum payable by the Tenant under this lease is unpaid for twenty one days after becoming payable (whether formally demanded or not) or if any material obligation on the part of the Tenant is not observed THEN in any such case the Landlord may re-enter the Premises (or any part of them in the name of the whole) and thereupon the tenancy created by this lease will determine but without prejudice to any rights of the Landlord in respect of any antecedent breach of any of the Tenant’s obligations in this lease PROVIDED THAT before re-entering the Premises pursuant to this clause or commencing any proceedings for forfeiture of this lease other than on the grounds that the rent is in arrears, the Landlord shall: give notice of the breach complained of in this lease; and if the Tenant confirms in writing to the Landlord within 14 days of the notice that it wishes to remedy the breach, allow the Tenant 28 days (or such longer time as may be reasonable in view of the nature of the breach) to remedy the breach.
Mutual Break Option. 9.1 If the Tenant shall desire to determine the Term on the 31 June 2017 (“the Break Date”) (time being of the essence for such date) and shall give to the Landlord at least six months’ prior written notice to that effect (time being of the essence for such notice) then subject to the Pre-Conditions (as hereinafter defined) being satisfied the Term shall thereupon cease and determine but without prejudice to any rights or liabilities of either party in respect of any antecedent breaches of covenant by the other
9.2 For the purposes of clause 9.1 above the Pre-Conditions are that:
9.2.1 on the Break Date vacant possession of the whole of the Premises is given to the Landlord, and
9.2.2 on the Break Date there are no arrears of the Basic Rent Service Charge or Insurance Rent (in the case of Service Charge or insurance Rent which are not the subject of a bona fide dispute) under this Lease and the Landlord shall within 10 Working Days of such determination refund the Tenant the proportion of the Basic Rent, Insurance Rent and Service Charge that it has received from the Tenant in respect of the period from and including the day after the Break Date up to and excluding the next payment date calculated on a daily basis if such payment received from the Tenant related to such period
9.3 The Landlord may in its absolute discretion waive all or any of the Pre-Conditions on written notice to that effect to the Tenant
9.4 If the Landlord shall desire to determine the Term on the 31 June 2017 (“the Break Date”) (time being of the essence for such date) and shall give to the Tenant at least six months’ prior written notice to that effect (time being of the essence for such notice) then the Term shall thereupon cease and determine but without prejudice to any rights or liabilities of either party in respect of any antecedent breaches of covenant by the other
Mutual Break Option. 1.1 Either the Landlord or the Tenant may terminate this lease by a serving a Break Notice on the other party at least 3 months before the Break Date specified in the Break Notice.
1.2 Following service of a Break Notice this lease shall terminate on the Break Date.
1.3 Termination of this lease on the Break Date shall not affect any other right or remedy that either party may have in relation to any earlier breach of this lease.
1.4 If this lease terminates in accordance with Paragraph 1.2 of this Schedule then, within 14 days after the Break Date, the Landlord shall refund to the Tenant the proportion of the Rent and any VAT thereon paid in respect of the period after the Break Date, calculated on a daily basis.