Common use of Termination by Tenant Clause in Contracts

Termination by Tenant. Tenant shall have the right to cancel this Lease, for any reason whatsoever including no reason, upon giving one hundred eighty (180) days’ notice of such cancellation in writing to Landlord without penalty or liability for rent or costs. Upon Tenant ’s cancellation, Landlord and Tenant shall be relieved of any further respective obligation under the Lease arising from and after the early termination date; provided that, such termination shall not, however, terminate those obligations set forth in the Lease which specifically survive after expiration or earlier termination thereof. (a) Tenant may terminate this Lease immediately without penalty or liability for rent or costs for the following reasons: (i) if directed to do so by statute; (ii) if Landlord has made an assignment of the Lease for the benefit of creditors, or has admitted in writing its inability to pay debts as they mature, or has ceased operating in the normal course of business; (iii) if a trustee or receiver of Landlord or of any substantial part of Landlord’s assets has been appointed by any court; (iv) for fraud, misappropriation embezzlement, malfeasance, misfeasance, or illegal conduct by Landlord, its employees, officers, directors, or shareholders in connection with the execution of this Lease or the performance of Landlord’s obligations under the terms of this Lease; (v) if an involuntary proceeding has been commenced against Landlord under any one of the chapters of Title 11 of the United States Code and (a) the involuntary proceeding has been pending for at least sixty (60) days; or (b) Landlord has consented, either expressly or by operation of law, to the entry of an order for relief; or (c) Landlord has been decreed or adjudged a debtor; (f) A voluntary petition has been filed by Landlord under any of the chapters of Title 11 of the United States Code. Except to the extent that any of the circumstances referred to herein interferes with the Tenant ’s use of the Demised Premises, the Tenant shall remain liable for the payment of rent until it has vacated the premises. (b) Tenant may terminate this Lease, in whole or in part, without penalty or liability for rent or costs if Landlord fails to perform its obligations under this Lease in a timely and proper manner. Tenant shall provide a written notice of default to Landlord and allow Landlord to cure a failure or breach of this Lease within a period of thirty (30) days. If the breach is not cured within thirty days, the Tenant may terminate upon written notice to Landlord.

Termination by Tenant. Tenant shall have the right to cancel this LeaseSecondary Sublease, for any reason whatsoever including no reason, upon giving one hundred eighty (180) days’ notice of such cancellation in writing to Landlord without penalty or liability for rent or costs. Upon Tenant ’s cancellation, Landlord and Tenant shall be relieved of any further respective obligation under the Lease Prime Sublease arising from and after the early termination date; provided that, such termination shall not, however, terminate those obligations set forth in the Lease Prime Sublease which specifically survive after expiration or earlier termination thereof. (a) Tenant may terminate this Lease Secondary Sublease immediately without penalty or liability for rent or costs for the following reasons: (i) if directed to do so by statute; (ii) if Landlord has made an assignment of the Lease Prime Sublease for the benefit of creditors, or has admitted in writing its inability to pay debts as they mature, or has ceased operating in the normal course of business; (iii) if a trustee or receiver of Landlord or of any substantial part of Landlord’s assets has been appointed by any court; (iv) for fraud, misappropriation embezzlement, malfeasance, misfeasance, or illegal conduct by Landlord, its employees, officers, directors, or shareholders in connection with the execution of this Lease Secondary Sublease or the performance of Landlord’s obligations under the terms of this LeaseSecondary Sublease; (v) if an involuntary proceeding has been commenced against Landlord under any one of the chapters of Title 11 of the United States Code and (a) the involuntary proceeding has been pending for at least sixty (60) days; or (b) Landlord has consented, either expressly or by operation of law, to the entry of an order for relief; or (c) Landlord has been decreed or adjudged a debtor; (f) A voluntary petition has been filed by Landlord under any of the chapters of Title 11 of the United States Code, or (vi) Lack of funding. Except to the extent that any of the circumstances referred to herein interferes with the Tenant ’s use of the Demised Premises, the Tenant shall remain liable for the payment of rent until it has vacated the premises. (b) Tenant may terminate this LeaseSecondary Sublease, in whole or in part, without penalty or liability for rent or costs if Landlord fails to perform its obligations under this Lease Secondary Sublease in a timely and proper manner. Tenant shall provide a written notice of default to Landlord and allow Landlord to cure a failure or breach of this Lease Secondary Sublease within a period of thirty (30) days. If the breach is not cured within thirty (30) days, the Tenant may terminate upon written notice to Landlord.