Tenant’s Right to Terminate the Lease Sample Clauses

Tenant’s Right to Terminate the Lease. In addition to the other provisions set forth herein, Tenant shall have the option to terminate this Lease after the 5th year of the Term if it provides Landlord with notice of the exercise of such option and at the same time pays to Landlord a termination fee of $275,362 (as reflected on Exhibit C attached hereto) plus interest from January 1, 2007 based on the increase by the percentage that the Consumer Price Index increases between the beginning of the first month of that Year and the end of the last month of the that Year. For every year thereafter an additional increase shall be calculated in a similar fashion. The Consumer Price Index refers to the Consumer Price Index entitled “All Urban Consumers – (1967=100) – All Items,” as promulgated by the Bureau of Labor Statistics of the United States Department of Labor. In the event that this price index or a successor or substitute index is not available, a similar governmental or other nonpartisan agency index shall be chosen by the Tenant to cover the increased cost of build out. To be effective said notice of termination must be accompanied with the payment of said termination fee and must be given during the month of July, 2011.
Sample 1Sample 2
AutoNDA by SimpleDocs
Tenant’s Right to Terminate the Lease. If Landlord does not provide Tenant with Landlord's Casualty Notice within sixty (60) days after the date of the Casualty Loss, Tenant shall thereafter have the right, which may be exercised at any time before Tenant receives Landlord's Casualty Notice, to give notice to Landlord terminating this Lease as of a date specified therein, which date shall not be less than thirty (30) nor more than sixty (60) days after the date of the notice from Tenant.
Sample 1Sample 2
Tenant’s Right to Terminate the Lease. If more than ten percent (10%) of the Premises is taken under the power of eminent domain, Tenant shall have the right to terminate this Lease as of the date when Tenant is required to vacate the Premises, by serving written notice of such election within thirty (30) days after receipt by Tenant of written notice from Landlord that the Premises have been so taken. Landlord shall promptly notify Tenant in writing of any taking pursuant to an eminent domain action or deed in lieu thereof. If this Lease is so terminated, each party shall thereafter be released from any further liability hereunder after Tenant vacates the Premises, except for those provisions which this Lease states are to survive the termination of this Lease.
Sample 1Sample 2
Tenant’s Right to Terminate the Lease. Subject to the terms and provisions of this Paragraph 38, Tenant shall have two (2) one-time rights to terminate this Lease. The first such right shall be exercised only by written notice delivered to Landlord no later than the fourth (4th) anniversary of the Commencement Date, and said termination shall be effective at the end of the fifth (5th) year of the Term of this Lease. The second such right shall be exercised only by written notice delivered to Landlord no later than the ninth (9th) anniversary of the Commencement Date, and said termination shall be effective at the end of the tenth (10th) year of the Term of this Lease. In order for either such termination notice to be effective, Tenant must also deliver to Landlord, within fifteen (15) days after Tenant's delivery of the notice, a termination fee equal to the unamortized cost (without interest) of all leasing commissions paid by Landlord in connection with this Lease.
Sample 1
Tenant’s Right to Terminate the Lease. Provided that no Event of Default has occurred under any provision of the Lease, either at the time of Tenant’s election of its right to terminate granted herein or as of the effective Termination Date, Tenant shall have the one-time right to terminate the Lease effective as of June 30, 2008 (the “Termination Date”), provided Tenant shall deliver its irrevocable written notice of such election to terminate to Landlord not later than twelve (12) months prior to the Termination Date. All rental and other costs due under the Lease for the Premises shall be due and payable by Tenant to Landlord through the Termination Date.
Sample 1
Tenant’s Right to Terminate the Lease. 9.4 (a) The Tenant shall be entitled to terminate this Lease by giving the Landlord no less than six (6) months’ written notice upon the occurrence of either of the following conditions:
Sample 1

Related to Tenant’s Right to Terminate the Lease

  • Tenant’s Right to Terminate If the Leased Premises, the Building or the Outside Area are damaged by any peril and Landlord does not elect to terminate this Lease or is not entitled to terminate this Lease pursuant to this Article, then as soon as reasonably practicable, Landlord shall furnish Tenant with the written opinion of Landlord's architect or construction consultant as to when the restoration work required of Landlord may be complete. Tenant shall have the option to terminate this Lease in the event any of the following occurs, which option may be exercised only by delivery to Landlord of a written notice of election to terminate within seven days after Tenant receives from Landlord the estimate of the time needed to complete such restoration:

  • Landlord’s Right to Terminate Landlord shall have the option to terminate this Lease in the event any of the following occurs, which option may be exercised only by delivery to Tenant of a written notice of election to terminate within thirty days after the date of such damage or destruction:

  • Licensee’s Right to Terminate Licensee may, at its option, without prejudice to any other remedies it may have, terminate this agreement by giving written notice of such termination to Licensor as follows: (a) immediately, in the event that Licensor abandons the Licensed Marks or otherwise ceases to support the Licensed Marks in Licensor's business; or (b) immediately in the event of the occurrence of a Bankruptcy with respect to Licensor; or (c) immediately in the event of an occurrence of termination pursuant to Section 13.2(d).

  • LANDLORD'S RIGHT TO PERFORM TENANT'S OBLIGATIONS (a) Without limiting the rights and remedies of Landlord contained in Paragraph 25 above, if Tenant shall be in Default in the performance of any of the terms, provisions, covenants or conditions to be performed or complied with by Tenant pursuant to this Lease, then Landlord may at Landlord's option, without any obligation to do so, and without notice to Tenant perform any such term, provision, covenant, or condition, or make any such payment and Landlord by reason of so doing shall not be liable or responsible for any loss or damage thereby sustained by Tenant or anyone holding under or through Tenant or any of Tenant's Agents.

  • 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.

  • LANDLORD'S RIGHT TO PERFORM TENANT'S COVENANTS Tenant covenants and agrees that, if it shall at any time fail to make any payment or perform any other act on its part to be made or performed as in this Lease provided, then Landlord, in its sole discretion may after due notice to, or demand upon, Tenant and subject to the limitations set forth below, make any payment or perform any other act on the part of Tenant to be made and performed as in this Lease provided, in such manner and to such extent as Landlord may reasonably deem desirable, and in exercising any such rights, Landlord may pay necessary and incidental costs and expenses, employ counsel, and incur and pay reasonable attorneys’ fees. The making of any such payment or the performing of any other act by Landlord pursuant to this Article shall not waive, or release Tenant from, any obligations of Tenant in this Lease contained. All sums so paid by Landlord and all reasonably necessary and incidental costs and expenses in connection with the performance of any such act by Landlord shall, except as otherwise in this Lease expressly provided, be payable to Landlord on demand, and Tenant covenants to pay any such sum or sums promptly, and Landlord shall have (in addition to any other right or remedy of Landlord) the same rights and remedies in the event of the non-payment thereof by Tenant as in the case of default by Tenant in the payment of the Base Rent. Whenever practicable, Landlord, before proceeding as provided in this Section 12.4, shall give Tenant notice in writing of the failure of Tenant which Landlord proposes to remedy, and shall allow Tenant such length of time as may be reasonable in the circumstances, consistent with any grace periods contained herein, but not exceeding 30 days from the giving of notice, to remedy the failure itself and, if Tenant shall not remedy the failure in the time so allowed, Landlord shall be deemed to have given “due notice” and may proceed as provided in this Section 12.4; provided that nothing in this Section shall prevent Landlord from acting without notice to Tenant in case of any emergency wherein there is danger to property or person or where there may exist any violation of legal requirements including but not limited to the presence of Hazardous Materials, in which event no notice shall be required.

  • Termination of the Lease In terminating the Lease, the following procedures shall be followed by the Authority and Tenant:

  • Reservation of Right to Terminate Relationship Nothing contained in this Agreement shall restrict the right of the Company to terminate the relationship of the Optionee at any time, with or without cause. The termination of the relationship of the Optionee by the Company, regardless of the reason therefor, shall have the results provided for in Sections 3 and 4 of this Agreement.

  • Tenant’s Rights If a material portion of the Premises is damaged by Casualty such that Tenant is prevented from conducting its business in the Premises in a manner reasonably comparable to that conducted immediately before such Casualty and Landlord estimates that the damage caused thereby cannot be repaired within one hundred eighty (180) days after the commencement of repairs (the “Repair Period”), then Tenant may terminate this Lease by delivering written notice to Landlord of its election to terminate within thirty (30) days after the Damage Notice has been delivered to Tenant.

  • LANDLORD’S RIGHT TO PERFORM TENANT’S DUTIES If Tenant fails timely to perform any of its duties under this Lease, Landlord shall have the right (but not the obligation), to perform such duty on behalf and at the expense of Tenant without prior notice to Tenant, and all sums expended or expenses incurred by Landlord in performing such duty shall be deemed to be additional Rent under this Lease and shall be due and payable upon demand by Landlord.

Time is Money Join Law Insider Premium to draft better contracts faster.