Common use of Termination; Merger Clause in Contracts

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s failure within 10 days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest shall constitute Landlord’s election to have such event constitute the termination of such interest.

Appears in 11 contracts

Sources: Industrial Lease (Tenaya Therapeutics, Inc.), Industrial Lease (CAPSTONE TURBINE Corp), Lease (Clean Energy Fuels Corp.)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default Breach by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s failure within 10 ten (10) days of following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s election to have such event constitute the termination of such interest.

Appears in 11 contracts

Sources: Lease (Penumbra Inc), Standard Industrial/Commercial Single Tenant Lease Modified Net (Ooma Inc), Lease (Penumbra Inc)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s failure within 10 ten (10) days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s election to have such event constitute the termination of such interest.

Appears in 4 contracts

Sources: Commercial Lease Agreement (Neos Therapeutics, Inc.), Commercial Lease Agreement (Neos Therapeutics, Inc.), Purchase and Sale Agreement (Applied Films Corp)

Termination; Merger. Unless specifically stated otherwise in writing ------------------- by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s 's failure within 10 days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s 's election to have such event constitute the termination of such interest.

Appears in 4 contracts

Sources: Lease (Kyphon Inc), Commercial Lease Agreement (Asd Systems Inc), Industrial Multi Tenant Lease (Cost U Less Inc)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s 's failure within 10 days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest shall constitute Landlord’s 's election to have such event constitute the termination of such interest.

Appears in 3 contracts

Sources: Industrial Lease (Excaliber Enterprises, Ltd.), Lease Agreement (Omneon Video Networks, Inc.), Industrial Lease (Capstone Turbine Corp)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default Breach by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, that Landlord shall, in the event of any such surrender, termination, or cancellation, have the option may elect to continue any one or all of any existing subtenancies or sub-subtenancies. Landlord’s failure within 10 ten (10) days following any such event to make a written election elect to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s election to have such event constitute the termination of such interest.

Appears in 3 contracts

Sources: Lease (Globeimmune Inc), Lease (Globeimmune Inc), Lease (Replidyne Inc)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s failure within 10 days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest shall constitute Landlord’s election to have such event constitute the termination of such interest.

Appears in 2 contracts

Sources: Industrial Multi Tenant Lease (Extend Health Inc), Industrial Multi Tenant Lease (Extend Health Inc)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s 's failure within 10 days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s 's election to have such event constitute the termination of such interest.

Appears in 2 contracts

Sources: Lease Agreement (Suntek Corp), Lease Agreement (Headhunter Net Inc)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default Breach by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, that Landlord shall, in the event of any such surrender, termination, or cancellation, have the option may elect to continue any one or all of any existing subtenancies. Landlord’s 's failure within 10 days following any such event to make a written election elect to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s 's election to have such event constitute the termination of such interest.

Appears in 2 contracts

Sources: Standard Industrial/Commercial Lease Net (Fortunet, Inc.), Standard Industrial/Commercial Multi Tenant Lease Net (Fortunet, Inc.)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease lease by Tenant▇▇▇▇▇▇, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default by Tenant, shall automatically terminate any sublease or lesser estate in the Premisesdemised premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s ▇▇▇▇▇▇▇▇'s failure within 10 days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s 's election to have such event constitute the termination of such interest.

Appears in 2 contracts

Sources: Warehouse Lease, Warehouse Lease

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default Breach by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s failure within 10 ten (10) days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s election to have such event constitute the termination of such interest.

Appears in 2 contracts

Sources: Standard Form Industrial Net Lease (Cue Health Inc.), Standard Form Industrial Net Lease (Cue Health Inc.)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default breach by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, that Landlord shall, in the event of any such surrender, termination, or cancellation, have the option may elect to continue any one or all of any existing subtenancies. Landlord’s 's failure within 10 days following any such event to make a written election elect to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s 's election to have such event constitute the termination of such interest.

Appears in 2 contracts

Sources: Standard Industrial Multi Tenant Lease (iPower Inc.), Standard Industrial Multi Tenant Lease (iPower Inc.)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default Breach by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s 's failure within 10 ten (10) days of following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s 's election to have such event constitute the termination of such interest.

Appears in 2 contracts

Sources: Standard Industrial/Commercial Multi Tenant Lease Modified Net (SBS Technologies Inc), Lease Agreement (SBS Technologies Inc)

Termination; Merger. Unless specifically stated otherwise in ------------------- writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s 's failure within 10 days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s 's election to have such event constitute the termination of such interest.

Appears in 2 contracts

Sources: Lease (Sonicwall Inc), Lease (Adaptive Broadband Corp)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this thus Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, or cancellation, ; have the option to continue any one or all of any existing subtenancies. Landlord’s 's failure within 10 days following any such event to make a written election to the contrary by written notice to the holder of any 'such lesser interest shall constitute Landlord’s 's election to have leave such event constitute the termination of such interest.

Appears in 1 contract

Sources: Industrial Lease (Singing Machine Co Inc)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default violation of any term or provision hereof by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, that Landlord shall, in the event of any such surrender, termination, or cancellation, have the option may elect to continue any one or all of any existing subtenancies. Landlord’s 's failure within 10 ten (10) days following any such event to make a written election elect to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s 's election to have such event constitute the termination of such interest.

Appears in 1 contract

Sources: Commercial Lease (Bourbon Brothers Holding Corp)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default Breach by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s 's failure within 10 ten (10) days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s 's election to have such event constitute the termination of such interest.

Appears in 1 contract

Sources: Lease Agreement (Apria Healthcare Group Inc)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default Breach by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s failure within 10 ten (10) days of following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s election to have such event constitute the termination of such interest.. Eight-L 1993 —19— Initials /

Appears in 1 contract

Sources: Standard Industrial/Commercial Multi Tenant Lease Modified Net (ADESTO TECHNOLOGIES Corp)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant▇▇▇▇▇▇, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s failure within 10 ten (10) days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s election to have such event constitute the termination of such interest.

Appears in 1 contract

Sources: Commercial Lease Agreement (Aytu Biopharma, Inc)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the The voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default default by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s 's failure within 10 ten (10) days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s 's election to have such event constitute the termination of such interest.

Appears in 1 contract

Sources: Lease (Sport Chalet Inc)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant▇▇▇▇▇▇, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default Breach by Tenant▇▇▇▇▇▇, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s failure within 10 ten (10) days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s election to have such event constitute the termination of such interest.

Appears in 1 contract

Sources: Standard Form Industrial Net Lease (Yellowstone Midco Holdings II, LLC)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default by Tenant, shall automatically terminate any sublease or lesser estate in the Premisesdemised premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s 's failure within 10 days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s 's election to have such event constitute the termination of such interest.

Appears in 1 contract

Sources: Warehouse Lease

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by TenantT▇▇▇▇▇, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. LandlordL▇▇▇▇▇▇▇’s failure within 10 I 0 days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s election to have such event constitute the termination of such interest.. Multi-Tenant Lease – PLx Pharma Inc.

Appears in 1 contract

Sources: Industrial Multi Tenant Lease (PLX Pharma Inc.)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; : provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s 's failure within 10 ten (10) days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s 's election to have such event constitute the termination of such interest.

Appears in 1 contract

Sources: Multi Tenant Lease (Zynex Medical Holdings Inc)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for a Default by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, that Landlord shall, in the event of any such surrender, termination, or cancellation, have the option may elect to continue any one or all of any existing subtenancies. Landlord’s 's failure within 10 ten (10) days following any such event to make a written election elect to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s 's election to have such event constitute the termination of such interest.

Appears in 1 contract

Sources: Lease (Therma Wave Inc)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s failure within 10 days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s election to have such event constitute the termination of such interest.

Appears in 1 contract

Sources: Industrial Multi Tenant Lease (Immucor Inc)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default Breach by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s 's failure within 10 ten (10) days of following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s 's election to have such event constitute the termination of such interest.

Appears in 1 contract

Sources: Lease Agreement (Wavesplitter Technologies Inc)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the The voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default Breach by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s 's failure within 10 ten (10) days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s 's election to have such event constitute the termination of such interest.

Appears in 1 contract

Sources: Sublease Agreement (Diamond Entertainment Corp)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default Breach by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, that Landlord shall, in the event of any such surrender, termination, or cancellation, have the option may elect to continue any one or all of any existing subtenancies. Landlord’s 's failure within 10 ten (10) days following any such event to make a written election elect to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s 's election to have such event constitute the termination of such interest.

Appears in 1 contract

Sources: Standard Industrial/Commercial Lease Agreement (Intuit Inc)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s 's failure within 10 ten (10) days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s 's election to have such event constitute the termination of such interest.

Appears in 1 contract

Sources: Commencement Date Agreement (Brainy Brands Company, Inc.)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default Breach by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however. However, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenanciessub-tenancies. Landlord’s 's failure within 10 days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest shall constitute Landlord’s 's election to have such event constitute the termination of such interest.

Appears in 1 contract

Sources: Lease Agreement (Touchstone Applied Science Associates Inc /Ny/)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default breach by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, that Landlord shall, in the event of any such surrender, termination, or cancellation, have the option may elect to continue any one or all of any existing subtenancies. Landlord’s failure failure, within 10 twenty (20) days following any such event event, to make a written election elect to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s election to have such event constitute the termination of such interest.

Appears in 1 contract

Sources: Commercial Lease Agreement (BioTrove, Inc.)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default Breach by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, that Landlord shall, in the event of any such surrender, termination, or cancellation, have the option may elect to continue any one or all of any existing subtenancies. Landlord’s failure within 10 days following any such event to make a written election elect to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s election to have such event constitute the termination of such interest.

Appears in 1 contract

Sources: Office Lease (Vickers Vantage Corp. I)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, Landlord shall, in the event of any such surrender, termination, termination or cancellation, have the option to continue any one or all of any existing subtenancies. Landlord’s 's failure within 10 * days following any such event to make a written election to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s 's election to have such event constitute the termination of such interest.

Appears in 1 contract

Sources: Lease (Frontier Airlines Inc /Co/)

Termination; Merger. Unless specifically stated otherwise in writing by Landlord, the voluntary or other surrender of this Lease by Tenant, the mutual termination or cancellation hereof, or a termination hereof by Landlord for Default breach by Tenant, shall automatically terminate any sublease or lesser estate in the Premises; provided, however, that Landlord shall, in the event of any such surrender, termination, or cancellation, have the option may elect to continue any one or all of any existing subtenancies. Landlord’s failure within 10 days following any such event to make a written election elect to the contrary by written notice to the holder of any such lesser interest interest, shall constitute Landlord’s election to have such event constitute the termination of such interest.

Appears in 1 contract

Sources: Standard Industrial Multi Tenant Lease Net (Xos, Inc.)