Termination by Lessor Clause Samples
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Termination by Lessor. If, by the Approval Expiration Date, the Equipment described in any Equipment Schedule has not been delivered to Lessee and accepted by Lessee as provided in Paragraph 6 hereof, or if other conditions of Lessor's Approval Letter, if any, have not been met, then Lessor may, at its option, terminate this Lease and its obligations hereunder with respect to such Equipment Schedule at any time after the expiration of such 90 days or any date after the Approval Expiration Date, as applicable. Lessor shall give Lessee written notice whether or not it elects to exercise such option within 10 days after Lessor's receipt of Lessee's written request for such notice.
Termination by Lessor. Lessor may terminate the lease at any time if any of the following shall happen:
Termination by Lessor a. In the event LESSEE should not be able to obtain a Select Service Hotel franchise agreement prior to commencement of construction, then the LESSOR shall have the option to terminate this Agreement. At that time, LESSOR shall release the existing Good Faith Security Deposit to LESSEE.
b. The LESSOR, in addition to any other rights to which it may be entitled by law or otherwise, may terminate this Agreement by giving LESSEE written notice in the event of default by LESSEE under this Agreement failing to be resolved in less than sixty (60) calendar days after the LESSEE’s receipt of written notice of such event of default and opportunity to cure from the LESSOR, upon or after the happening of any one of the following events:
1) LESSEE shall file a voluntary petition in bankruptcy or that proceedings in bankruptcy shall be instituted against it and LESSEE is thereafter adjudicated bankrupt pursuant to such proceedings;
2) A court shall take jurisdiction of LESSEE and its assets pursuant to proceedings brought under the provisions of any Federal reorganization act;
3) Receiver of LESSEE’s assets shall be appointed;
4) LESSEE shall be divested of its estate herein by other operation of law;
5) LESSEE shall fail to perform, keep and observe any of the obligations, terms, warranties or conditions contained in this Agreement that on the part of LESSEE are to be performed, kept or observed.
c. If any such condition or default cannot reasonably be corrected within the sixty (60) calendar day period, and LESSEE has demonstrated due diligence with respect to curing said default, then, at the LESSOR’s sole discretion, such cure period may be extended for consecutive periods of thirty (30) calendar days, as long as diligent progress is made toward cure, with a reasonably foreseeable resolution date. Under such circumstances, default may be treated as cured until cured. Should diligent progress cease, or the reason for default become apparent as insoluble, then the Term shall cease and expire at the end of the thirty (30) calendar day extension then in effect.
d. Acceptance of rent by LESSOR for any period or periods after a notice of default is issued by LESSOR of any of the obligations, terms, warranties and conditions herein contained to be performed, kept and observed by LESSEE shall not be deemed a waiver of any other right on the part of LESSOR to terminate this Agreement for failure by LESSEE so to perform, keep and observe any of the obligations, terms, warran...
Termination by Lessor. In the event of any default or failure by Lessee to comply with any of the covenants, terms or conditions of this Agreement, Lessor shall be entitled to give Lessee written notice of the default, specifying details of the same. If such default is not remedied within sixty (60) days after receipt of the notice, provided the same can reasonably be done within that time, or, if not, if Lessee has not within that time commenced action to cure the same, or does not after such commencement diligently prosecute such action to completion, then this Agreement shall be deemed canceled and terminated effective on the sixtieth (60th) day after the receipt of the notice; provided that Lessor, prior to the expiration of said sixty (60) day notice period, has reconveyed the Property to the original owners, their heirs or assigns. Termination shall not be based on default or on a failure to remedy the same, which results from any cause beyond the reasonable control of Lessee, including without limitation, the Force Majeure provisions of this Agreement.
Termination by Lessor. In the event of any default by Lessee in the performance of its obligations hereunder, including all obligations to make payments of money to Lessor, Lessor shall give to Lessee written notice specifying the default. If (a) a default involving matters other than the payment of money to Lessor is not cured within sixty (60) days after Lessee has received the notice, or if Lessee has not within the time begun action to cure the default and does not diligently prosecute such action to completion, or (b) if a default involving the payment of money to Lessor is not cured within fifteen (15) business days after Lessee has received notice of non payment, Lessor may terminate this Lease by delivering to Lessee written notice of such termination, subject to Lessee's right to remove its property and equipment from the Premises as hereinafter provided. Lessor shall have no right to terminate this Lease except as set forth in this paragraph.
Termination by Lessor. Lessor shall have the right to terminate this Lease Agreement under the following circumstances:
17.1. Any breach by the Lessee of any of its material obligations, representations under this Lease Agreement or the PPA and ▇▇▇▇▇▇ has failed to take appropriate measures to rectify this breach within 60 days after receiving written notices of the breaches from Lessor.
17.2. Failure of the Lessee to use or take possession of the Site for 90 continuous days.
Termination by Lessor. In the event of any default or failure by Lessee to comply with any of the covenants, terms or conditions of this Agreement, Lessor shall give Lessee written notice of the default, specifying details of the same. If such default is not remedied within thirty (30) days after receipt of the notice, then this Agreement shall be deemed canceled and terminated effective on the thirtieth (30th) day after the receipt of the notice.
Termination by Lessor. 18 The Lessor may terminate this Lease and re-enter the Property if:
Termination by Lessor. Lessor may terminate this Lease at any time it should be determined by its special representative that public necessity and convenience require it to do so by serving upon Lessee in the manner subsequently provided a written notice of its election to so terminate, which notice shall be served at least sixty (60) days prior to the date named for such termination.
Termination by Lessor. 35 The Lessor may terminate this Lease by notice in writing on the Lessee if: