Termination of Agreement for Airport Purposes Sample Clauses

Termination of Agreement for Airport Purposes. Lessee agrees and understands that, by reason of the broad public interest in the efficient maintenance, operation and development of the Airport, SRA hereby expressly reserves the right to terminate this Agreement upon a determination by SRA that the Leased Premises are needed for permanent Airport construction, or development, or improvements. Such construction, development or improvements shall be for airport and or aviation purposes only. In the event that permanent Airport construction, development or improvement necessitates termination of this Agreement and the acquisition of Lessee’s Leasehold Improvements and interest in the Leased Premises, Lessee shall surrender the Leased Premises to SRA within ninety (90) days from receipt of SRA’s written notice of its intent to terminate the Agreement and acquire Lessee’s Leasehold Improvements and interest in the Leased Premises. SRA shall use its best efforts to provide Lessee with replacement premises at the Airport at the rates not to exceed those provided in this Agreement and under the same terms and conditions as this Agreement or the then current lease agreement in use by SRA subject to the same periods of duration and renewal options of this Agreement. Relocation benefits shall be paid by SRA to Lessee in the manner required by applicable law. In consideration of Lessee’s surrender of the Leased Premises under this Section, Lessee shall receive, as complete compensation for Lessee’s interest in the Leased Premises and Lessee’s investment to construct improvements thereto, a sum equal to the cost of such improvements constructed by Lessee, less ten percent (10%) of said cost for each year that Lessee occupies the Leased Premises after such improvements are constructed by Lessee. Provided, that should Lessee occupy said premises for a period of eight (8) years from the effective date of this Agreement, Lessee shall be entitled to recover twenty percent (20%) of the cost of such improvements should Lessee surrender the Leased Premises after said date. Lessee hereby acknowledges that it shall not be entitled to damages due to loss of any type of income caused by the termination of this Agreement.
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Termination of Agreement for Airport Purposes. QAM agrees and understands that, by reason of the broad public interest in the efficient maintenance, operation and development of the Airport, SRA hereby expressly reserves the right to terminate this Agreement upon a determination by SRA that the Leased Premises is needed for permanent Airport construction, or development, or improvements.
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Termination of Agreement for Airport Purposes. Lessee agrees and understands that, by reason of the broad public interest in the efficient maintenance, operation and development of the Airport, SRA hereby expressly reserves the right to terminate this Agreement upon a determination by SRA that the Leased Premises are needed for permanent Airport construction, or development, or improvements. Such construction, development or improvements shall be for airport and or aviation purposes only. In the event that permanent Airport construction, development or improvement necessitates termination of this Agreement and the acquisition of Lessee’s Leasehold Improvements and interest in the Leased Premises, Lessee shall surrender the Leased Premises to SRA within ninety (90) days from receipt of SRA’s written notice of its intent to terminate the Agreement and acquire Lessee’s Leasehold Improvements and interest in the Leased Premises. SRA shall use its best efforts to provide Lessee with replacement premises at the Airport at the rates not to exceed those provided in this Agreement and under the same terms and conditions as this Agreement or the then current lease agreement in use by SRA subject to the same periods of duration and renewal options of this Agreement. Relocation benefits shall be paid by SRA to Lessee in the manner required by applicable law.
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Termination of Agreement for Airport Purposes. Concessionaire agrees and understands that, by reason of the broad public interest in the efficient maintenance, operation and development of the Airport, SARAA hereby expressly reserves the right to terminate this Agreement upon a determination by SARAA that the Leased Premises are needed for Airport construction or development. In the event that Airport construction or development necessitates termination of this Agreement and the acquisition of Concessionaire's interest in the Leased Premises, Concessionaire shall surrender the Leased Premises to SARAA within one hundred twenty (120) days from receipt of SARAA's written notice of its intent to terminate the Agreement and acquire Concessionaire's interest in the Leased Premises. SARAA shall use its best efforts to provide Concessionaire with replacement premises at the Airport at the rates not to exceed those provided in this Agreement. Furthermore, relocation benefits shall be paid by SARAA to Concessionaire in the manner required by applicable governmental requirements. In consideration of Concessionaire's surrender of the Leased Premises, Concessionaire shall receive, as complete compensation for Concessionaire's interest in the Leased Premises and Concessionaire's improvements thereto, a sum of money equivalent to the then unamortized amount of any improvements based on a ten (10) year straight-line rate of depreciation.
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Termination of Agreement for Airport Purposes. Lessee agrees and understands that, by reason of the broad public interest in the efficient maintenance, operation and development of the Airport, XXXX hereby expressly reserves the right to terminate this Agreement upon a determination by XXXX or the Authority that the Leased Premises are needed for Airport construction or development. In the event that Airport construction or development necessitates termination of this Agreement and the acquisition of Lessee's interest in the Leased Premises, Lessee shall surrender the Leased Premises to XXXX within ninety (90) days from receipt of XXXX'x written notice of its intent to terminate the Agreement and acquire Lessee's interest in the Leased Premises. XXXX shall use its best efforts to provide Lessee with replacement premises at the Airport at the rates not to exceed those provided in this Agreement. Furthermore, relocation benefits shall be paid by XXXX to Lessee in the manner required by applicable Governmental Requirements. In consideration of Lessee's surrender of the Leased Premises, Lessee shall receive, as complete compensation for Lessee's interest in the Leased Premises and Lessee's improvements thereto, a sum of money equivalent to the fair value of any improvements of Lessee acquired by XXXX. Determination of the fair value of the improvements shall be made by the appraisal method known as the "market comparison approach". The appraisal method known as the "income approach" shall not be used in the valuation of the improvements. The parties further agree that the fair value rental of the Leased Premises shall be deemed to be equivalent to the contract rent specified in this Agreement, throughout the Term or any extended term.
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Related to Termination of Agreement for Airport Purposes

  • Termination of Agreement for Cause 5.1.1. If A/E breaches any of the covenants or conditions of this AGREEMENT, COUNTY shall have the right to terminate this AGREEMENT upon ten (10) days written notice prior to the effective day of termination.

  • Termination of Agreement If this Agreement is terminated by the Representatives in accordance with the provisions of Section 5 or Section 9(a)(i) hereof, the Company shall reimburse the Underwriters for all of their out-of-pocket expenses, including the reasonable fees and disbursements of counsel for the Underwriters.

  • Termination of Agreements (a) Except as set forth in Section 2.7(b), in furtherance of the releases and other provisions of Section 4.1, SpinCo and each member of the SpinCo Group, on the one hand, and Parent and each member of the Parent Group, on the other hand, hereby terminate any and all agreements, arrangements, commitments or understandings, whether or not in writing, between or among SpinCo and/or any member of the SpinCo Group, on the one hand, and Parent and/or any member of the Parent Group, on the other hand, effective as of the Effective Time. No such terminated agreement, arrangement, commitment or understanding (including any provision thereof which purports to survive termination) shall be of any further force or effect after the Effective Time. Each Party shall, at the reasonable request of the other Party, take, or cause to be taken, such other actions as may be necessary to effect the foregoing.

  • Complete Disposal Upon Termination of Service Agreement Upon Termination of the Service Agreement Provider shall dispose or delete all Student Data obtained under the Service Agreement. Prior to disposition of the data, Provider shall notify LEA in writing of its option to transfer data to a separate account, pursuant to Article II, section 3, above. In no event shall Provider dispose of data pursuant to this provision unless and until Provider has received affirmative written confirmation from LEA that data will not be transferred to a separate account.

  • OPERATION OF AGREEMENT This Agreement will be effective and binding immediately upon its execution, but, anything in this Agreement to the contrary notwithstanding, this Agreement will not be operative unless and until a Change in Control occurs. Upon the occurrence of a Change in Control at any time during the Term, without further action, this Agreement shall become immediately operative.

  • Expiration of Agreement Notwithstanding the expiration of this Agreement, any claim or grievance arising hereunder may be processed through the grievance procedure until resolution.

  • Termination of Agreement, Resignation, or Removal of Custodian Either party may terminate this agreement at any time by giving written notice to the other. We can resign as custodian at any time effective 30 days after we send written notice of our resignation to you. Upon receipt of that notice, you must make arrangements to transfer your Xxxx XXX to another financial organization. If you do not complete a transfer of your Xxxx XXX within 30 days from the date we send the notice to you, we have the right to transfer your Xxxx XXX assets to a successor Xxxx XXX trustee or custodian that we choose in our sole discretion, or we may pay your Xxxx XXX to you in a single sum. We will not be liable for any actions or failures to act on the part of any successor trustee or custodian, nor for any tax consequences you may incur that result from the transfer or distribution of your assets pursuant to this section. If this agreement is terminated, we may charge to your Xxxx XXX a reasonable amount of money that we believe is necessary to cover any associated costs, including but not limited to one or more of the following. • Any fees, expenses, or taxes chargeable against your Xxxx XXX • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in your Xxxx XXX If we are a nonbank custodian required to comply with Regulations section 1.408-2(e) and we fail to do so or we are not keeping the records, making the returns, or sending the statements as are required by forms or regulations, the IRS may require us to substitute another trustee or custodian. We may establish a policy requiring distribution of the entire balance of your Xxxx XXX to you in cash or property if the balance of your Xxxx XXX drops below the minimum balance required under the applicable investment or policy established.

  • DURATION OF AGREEMENT All agreements and obligations of the Company contained herein shall continue during the period Indemnitee serves as a director or officer of the Company or as a director, officer, trustee, partner, manager, managing member, fiduciary, employee or agent of any other corporation, partnership, joint venture, trust, employee benefit plan or other Enterprise which Indemnitee serves at the request of the Company and shall continue thereafter so long as Indemnitee shall be subject to any possible Proceeding (including any rights of appeal thereto and any Proceeding commenced by Indemnitee pursuant to Section 14 of this Agreement) by reason of Indemnitee’s Corporate Status, whether or not Indemnitee is acting in any such capacity at the time any liability or expense is incurred for which indemnification or advancement can be provided under this Agreement.

  • Termination of the Agreement In the event of failure by the participant to perform any of the obligations arising from the agreement, and regardless of the consequences provided for under the applicable law, the institution is legally entitled to terminate or cancel the agreement without any further legal formality where no action is taken by the participant within one month of receiving notification by registered letter. If the participant terminates the agreement before its agreement ends or if he/she fails to follow the agreement in accordance with the rules, he/she shall have to refund the amount of the grant already paid, except if agreed differently with the sending organisation. In case of termination by the participant due to "force majeure", i.e. an unforeseeable exceptional situation or event beyond the participant's control and not attributable to error or negligence on his/her part, the participant shall be entitled to receive at least the amount of the grant corresponding to the actual duration of the mobility period. Any remaining funds shall have to be refunded, except if agreed differently with the sending organisation.

  • Limitation of Agreement This Agreement is limited to and includes only the work included in the Project described above.

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