OPTION TO CANCEL. Lessee shall have the right to cancel this Lease causing same to become null and void and of no further force or effect under the following terms and conditions:
OPTION TO CANCEL. Through August 1 Within five (5) business days After August 1 Within (2) business days
OPTION TO CANCEL. The parties hereby agree and acknowledge that Tenant’s Cancellation Option pursuant to Section 1.11 of the First Amendment, as amended by Section 9 of the Second Amendment, shall not apply to the Expansion Space.
OPTION TO CANCEL. Section 35.1 Provided that (i) an Event of Default under this Lease shall not then be continuing and (ii) this Lease shall be in full force and effect at all times mentioned below, and (iii) Tenant shall not have assigned its interest in this Lease in a transaction requiring Landlord’s consent, Tenant shall have the one-time right to cancel this Lease effective as of the twelfth anniversary of the First Commencement Date (the “Cancellation Option Termination Date”), provided that Tenant shall have given Landlord, at least eighteen (18) months prior to the Cancellation Option Termination Date, a Notice (the “Cancellation Notice”) of Tenant’s cancellation of this Lease effective as of the Cancellation Option Termination Date. As a condition of the effective cancellation of this Lease, Tenant shall have paid Landlord, an amount equal to (x) the unamortized costs incurred and paid by Landlord in connection with this Lease for (a) brokerage commissions, (b) free rent, (c) the cost of Landlord’s Work and the Tenant Improvement Allowance and (d) legal fees, all amortized on a straight-line basis over the originally scheduled Term, at an annual interest rate of 8% plus (y) an amount equal to six (6) months of Fixed Rent and Escalation Rent payable at the rates in effect as of the Cancellation Option Termination Date (collectively, the “Cancellation Payment”). Upon Tenant’s request, Landlord shall deliver to Tenant an itemized list of such costs incurred by Landlord and, where applicable, evidence of such costs. One-half of the Cancellation Payment shall be paid simultaneously with the giving of the Cancellation Notice and the balance of the Cancellation Payment shall be paid no later than six months after the giving of the Cancellation Notice. Time is of the essence with respect to the giving of the Cancellation Notice by Tenant and the payment of each installment of the Cancellation Payment by Tenant by the dates set forth above. Upon the timely giving of the Cancellation Notice and the timely payment of the Cancellation Payment, the Term of this Lease shall expire on the Cancellation Option Termination Date as if such date were the Fixed Expiration Date and neither party shall have any further rights or obligations under this Lease except for such rights and obligations which expressly survive the termination or expiration of the Term of this Lease.
OPTION TO CANCEL. If for any reason Private Company wishes to terminate the agreement prior to completion, the Private Company will be responsible for payment of expenses thus far incurred. The Private Company may cancel this Agreement for any reason at any time upon 1 day’s prior written notice and full payment of note obligation.
OPTION TO CANCEL. Upon receipt of Tenant's written request for Landlord's consent to subletting, assignment, transfer or occupancy by someone other than Tenant, Landlord shall have the option to cancel this Lease as of the date the requested subletting, assignment, transfer or occupancy by someone other than Tenant is to be effective. Landlord shall exercise its option to cancel this Lease by written notice to Tenant within thirty (30) days after Landlord receives Tenant's request for Landlord's consent.
OPTION TO CANCEL. Lessor agrees that Lessee may cancel its obligations under this Lease at the beginning of the twenty-fifth (25th) month of the Term hereof after providing Lessor with ninety (90) days written notice of Lessee's intent to cancel. Lessor also agrees that Lessee may cancel its obligations under this Lease at the beginning of the sixty-first (61st) month of the Term hereof after providing Lessor with one hundred eighty (180) days written notice of Lessee's intent to cancel. This option may also be exercised at the beginning of each successive thirty-six (36) month period (eg. 97th month, 133rd month, 169th month, etc.) thereafter, including all renewal option terms, upon Lessee giving Lessor one hundred eighty (180) days notice of its intent to cancel. Upon exercise of this option, Lessee shall pay Lessor the amount of four (4) times the monthly rental for the month in which notice of cancellation was given, payable upon notification to Lessor of Lease cancellation, as consideration for Lessor's cancellation of the Lease Agreement between the parties. Lessee shall vacate the Premises promptly within ninety (90) days following notification to Lessor hereunder, and in the event Lessee does not vacate promptly, the rental shall continue to be payable in accordance with the Lease, without credit for said payment of four times the monthly rental, until such time as Lessee vacates the Premises. Lessee shall vacate the Premises in the condition required under Section 40 of this Lease. Lessee agrees that Lessor may cancel its obligations under this Lease at the beginning of the twenty-fifth (25th) month of the Term hereof after providing Lessee with ninety (90) days written notice of Lessor's intent to cancel. Lessee also agrees that Lessor may cancel its obligations under this Lease at the beginning of the sixty-first (61st) month of the Term hereof after providing Lessee with one hundred eighty (180) days written notice of Lessor's intent to cancel This option may also be exercised at the beginning of each successive thirty-six (36) month period (eg. 97th month, 133rd month, 169th month, etc.) thereafter, including the renewal option terms, upon Lessee giving Lessor one hundred eighty (180) days notice of its intent to cancel. Upon exercise of this option, Lessor shall pay Lessee the amount of four (4) times the monthly rental for the month in which notice of cancellation was given, payable upon notification to Lessee of Lease cancellation, as consideration for Less...
OPTION TO CANCEL. The Lessee shall have the right on January 14, 2004 to cancel this Lease. In order to exercise its right to cancel, the Lessee shall notify the Lessor in writing on or before July 1, 2003 and shall, at the time of giving such notice, pay to the Lessor a Termination Fee which shall be an amount equal to eighteen (18) months' Base Rent and Lessee's prorata share of real estate taxes and insurance for the same 18 month period multiplied by the number of square feet Lessee occupies under this Lease at the time such notice is given.
OPTION TO CANCEL. In the event that twenty percent (20%) or more of the floor area of the Building shall be so taken, either Tenant or Landlord may cancel and terminate this Lease by serving upon the other a written notice of its intention so to do within thirty (30) days after receiving notice that the condemnation judgment shall be entered, in which event Landlord shall not be required to restore or rebuild the Property. Moreover, in the event that fifty percent (50%) or more of the floor area of the Building shall be so taken, or in the event that twenty-five percent (25%) or more of the total floor area of the Building shall be so taken during the last two (2) years of the then-current term of this Lease, Landlord shall have the right to cancel and terminate this Lease by serving upon Tenant a written notice of its intention to do so within thirty (30) days after the condemnation judgment shall be entered. It is agreed, however, that if a portion of the Property or the Building is taken and the Lease is not canceled or terminated by either party hereto as permitted above, the Property shall be restored as stated in Section 14.A.
OPTION TO CANCEL. The reference to $265,714.66 in clause (a) of Section 2.5 of the Lease is hereby changed to $451,418.33 and the last sentence of said section is null and void.
