Surrender Notice Sample Clauses

Surrender Notice. Tenant shall deliver written notice (a “Surrender Notice”) of such Partial Termination to Landlord, by not later than the seventh (7th) anniversary of the Fixed Rent Commencement Date, and Tenant shall pay to Landlord, without deduction or offset, the Surrender Fee. Fifty percent (50%) of the Surrender Fee shall be payable concurrently with the delivery of the Surrender Notice, and the remaining balance of the Surrender Fee shall be payable not later than the Partial Termination Date. Said Surrender Fee shall be Additional Rent and shall be in addition to, and not in lieu of, any other payments due under this Lease (including payments of Fixed Rent and Additional Rent). If Tenant fails (i) to timely pay the first installment of the Surrender Fee, which failure continues for ten (10) business days after written notice from Landlord specifying such failure and specifying the amount of the Surrender Fee, or (ii) to timely pay the second installment of the Surrender Fee, then at Landlord’s option, by written notice to Tenant given within thirty (30) days after such failure, Tenant’s Surrender Notice shall be of no further force and effect, Landlord shall return any portion of the Surrender Fee previously paid by Tenant, and this Lease shall remain in full force and effect with respect to the Surrender Space.