TENANT LATE POSSESSION AND TERMINATION RIGHTS Sample Clauses

TENANT LATE POSSESSION AND TERMINATION RIGHTS. Landlord acknowledges that delays in the substantial completion of the Building or Premises will cause substantial harm to Tenant and Tenant's business, and that the resulting damages will be difficult or impossible to measure. Therefore, if, due to delays from any cause, except to the extent that such delay is caused by the actions or omissions of Tenant or its agents, the Building or Premises are not so substantially completed on August 15, 1998 (with the exception of punch list items) and subject to the delay provisions of this Section, Landlord shall pay to Tenant One Thousand Dollars ($1,000) per day thereafter commencing on August 16, 1998, to and including September 15, 1998, and Seventy-five Thousand Dollars ($75,000) for each month thereafter that the Premises are unavailable (prorated at an equal amount per day up to a maximum of Seventy-five Thousand Dollars ($75,000) per month) which the parties agree is a reasonable estimate of Tenant's damages resulting from such delay. If this Lease is not executed by Landlord and Tenant on or before September 1, 1997, then the date on which said liquidated damages commence shall be postponed for one day for every day between September 1, 1997, and the date this Lease is signed by Landlord and Tenant; provided, however, for the purpose of this sentence, the date of Landlord's signature shall be deemed to be the earlier of the actual date thereof or five (5) days after Landlord receives a copy of this Lease executed by Tenant. The above dates upon which said liquidated damages shall be payable shall each be extended by up to sixty (60) days to the extent substantial completion of the Premises is delayed for reasons beyond Landlord's control. There is no acceleration of the date on which liquidated damages commence if this Lease is signed prior to September 1, 1997. If Landlord has not made the Premises available for Tenant's occupancy within six (6) months following August 15, 1998 (or such later date as may result from a delay in the execution of this Lease under the prior sentence) and such six-month delay in the delivery of the Premises is not due to actions or omissions of Tenant or its agents, then either party may terminate this Lease by written notice to the other. Tenant shall also have the right to terminate this Lease by written notice to Landlord any time prior to the Commencement Date after it receives written notice from Landlord that Landlord has determined that it will permanently abandon the c...
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Related to TENANT LATE POSSESSION AND TERMINATION RIGHTS

  • Termination of Possession Terminate Tenant’s right to possess the Premises without terminating this Lease by giving written notice thereof to Tenant, in which event Tenant shall pay to Landlord (a) all Rent and other amounts accrued hereunder to the date of termination of possession, (b) all amounts due from time to time under Section 19.1, and (c) all Rent and other net sums required hereunder to be paid by Tenant during the remainder of the Term, diminished by any net sums thereafter received by Landlord through reletting the Premises during such period, after deducting all costs incurred by Landlord in reletting the Premises. If Landlord elects to terminate Tenant’s right to possession without terminating this Lease, and to retake possession of the Premises (and Landlord shall have no duty to make such election), Landlord shall use reasonable efforts to relet the Premises as further described in Section 19.4 below. Provided Landlord substantially complies with Section 19.4, Landlord shall not be liable for, nor shall Tenant’s obligations hereunder be diminished because of, Landlord’s failure to relet the Premises or to collect rent due for such reletting. Tenant shall not be entitled to the excess of any consideration obtained by reletting over the Rent due hereunder. Reentry by Landlord in the Premises shall not affect Tenant’s obligations hereunder for the unexpired Term; rather, Landlord may, from time to time, bring an action against Tenant to collect amounts due by Tenant, without the necessity of Landlord’s waiting until the expiration of the Term. Unless Landlord delivers written notice to Tenant expressly stating that it has elected to terminate this Lease, all actions taken by Landlord to dispossess or exclude Tenant from the Premises shall be deemed to be taken under this Section 18.2. If Landlord elects to proceed under this Section 18.2, it may at any time elect to terminate this Lease under Section 18.1;

  • COMMENCEMENT AND TERMINATION 10.1 This Agreement shall be effective as of the date hereof and shall continue in force until terminated in accordance with the provisions herein.

  • Term of Agreement and Termination 4.1. Either party may terminate this Agreement, if the other party is in material breach of the Agreement, by giving written notice thereof to the other party, to cure such breach, following which, without curing the breach, this Agreement shall terminate. Such notice shall specify the alleged material breach, shall state the termination date and shall be sent by certified mail, return receipt requested, to the other party at the notice address specified.

  • Termination by Lessor Lessor may terminate the lease at any time if any of the following shall happen:

  • Termination of the Lease If for any reason the term of the Master Lease shall terminate prior to the Sublease Expiration Date, this Sublease shall automatically be terminated and Sublandlord shall not be liable to Subtenant by reason thereof unless said termination shall have been caused by the default of Sublandlord under the Master Lease, and said Sublandlord default was not as a result of a Subtenant default hereunder.

  • Renewal and Termination A. This Agreement shall become effective on the date written below and shall continue in effect for two (2) years thereafter, unless sooner terminated as hereinafter provided and shall continue in effect thereafter for periods not exceeding one (1) year so long as such continuation is approved at least annually (i) by a vote of a majority of the outstanding voting securities of the Fund or by a vote of the Board of Trustees of the Trust, and (ii) by a vote of a majority of the Trustees of the Trust who are not parties to the Agreement (other than as Trustees of the Trust) or “interested persons” of any such party, cast in person at a meeting called for the purpose of voting on the Agreement.

  • Termination; Rights on Termination Employee's employment may be ---------------------------------- terminated in any one of the followings ways, prior to the expiration of the Term:

  • Termination of Master Lease If the Master Lease terminates for any reason prior to the expiration or other termination of this Sublease, this Sublease shall terminate concurrently therewith without any liability of Sublandlord to Subtenant and, except for any Subtenant obligations hereunder arising on or prior to the termination of this Sublease, following Subtenant’s surrender in compliance with Section 4.2 hereof, Subtenant’s obligations hereunder shall terminate, except with respect to any indemnification or hold harmless obligations of Subtenant, which shall survive such termination.

  • Landlord’s Termination Right Whether or not the Premises are affected, Landlord may, by notice to Tenant, within 60 days following the date upon which Landlord receives notice of the Taking of all or a portion of the Real Property, the Building or the Premises, terminate this Lease, provided that Landlord elects to terminate leases (including this Lease) affecting at least 50% of the rentable area of the Building.

  • Term Renewal and Termination 14.1. This Agreement shall, with respect to the Portfolio, become effective as of the date first above written and shall remain in force for two years thereafter, and for successive annual periods thereafter but only so long as each such continuance is specifically approved at least annually by (1) a majority of the Directors of the Company who are not parties to this Agreement or interested persons of any such parties (other than as Directors of the Company), by vote cast in person at a meeting called for the purpose of voting on such approval; or (2) a vote of the holders of a majority of the outstanding voting securities (as defined in the 0000 Xxx) of such Portfolio. It shall be the duty of the Directors of the Company to request and evaluate, and the duty of the Manager and Sub-Adviser to furnish, such information as may be reasonably necessary to evaluate the terms of this Agreement and any renewal hereof.

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