Termination of Lease. Landlord may terminate Tenant’s interest under the Lease, but no act by Landlord other than notice of termination from Landlord to Tenant shall terminate this Lease. The Lease shall terminate on the date specified in the notice of termination. Upon termination of this Lease, Tenant will remain liable to Landlord for damages in an amount equal to the rent and other sums that would have been owing by Tenant under this Lease for the balance of the Lease term, less the net proceeds, if any, of any re-letting of the Premises by Landlord subsequent to the termination, after deducting all of Landlord’s Reletting Expenses (as defined below). Landlord shall be entitled to either collect damages from Tenant monthly on the days on which rent or other amounts would have been payable under the Lease, or alternatively, Landlord may accelerate Tenant’s obligations under the Lease and recover from Tenant: (i) unpaid rent which had been earned at the time of termination; (ii) the amount by which the unpaid rent which would have been earned after termination until the time of award exceeds the amount of rent loss that Tenant proves could reasonably have been avoided; (iii) the amount by which the unpaid rent for the balance of the term of the Lease after the time of award exceeds the amount of rent loss that Tenant proves could reasonably be avoided (discounting such amount by the discount rate of the Federal Reserve Bank of San Francisco at the time of the award, plus 1%); and (iv) any other amount necessary to compensate Landlord for all the detriment proximately caused by Tenant’s failure to perform its obligations under the Lease, or which in the ordinary course would be likely to result from the Event of Default, including without limitation Reletting Expenses described below.
Termination of Lease. Landlord can terminate this Lease and Tenant’s right to possession of the Premises by giving written notice of termination, and then re-enter the Premises and take possession thereof. No act by Landlord other than giving written notice to Tenant of such termination shall terminate this Lease. Upon termination, Landlord has the right to recover all damages incurred by Landlord as a result of Tenant’s default, including:
Termination of Lease. Terminate this Lease by giving Tenant written notice thereof, in which event Tenant shall pay to Landlord the sum of (1) all Rent accrued hereunder through the date of termination, (2) all amounts due under Section 20(a), and (3) an amount equal to (A) the total Rent that Tenant would have been required to pay for the remainder of the Term discounted to present value at a per annum rate equal to the “Prime Rate” as published on the date this Lease is terminated by The Wall Street Journal, Southwest Edition, in its listing of “Money Rates” minus one percent, minus (B) the then present fair rental value of the Premises for such period, similarly discounted.
Termination of Lease. Landlord may terminate this Lease by written notice to Tenant of Landlord’s election to do so, whether or not Landlord has previously elected to continue the Lease in effect, with or without reentry. Upon Landlord’s notice of termination, Tenant immediately shall pay to Landlord the amount of all Rent and other sums due under this Lease to the date of termination. Also, Tenant shall pay Landlord, at Landlord’s option, on demand, Landlord’s prospective damages over the remaining Lease Term (as if the Lease had not been terminated) as a lump sum in an amount determined by Landlord which, so long as determined reasonably and in good faith, shall be conclusive, binding on both Parties and enforceable by any court of competent jurisdiction. The prospective damages shall be an amount equal to Landlord’s calculation of the probable amount of the difference by which the Rent for the full Lease Term, plus all accrued and reasonably anticipated costs, damages and expenses for which the Tenant is or would become liable for under this Lease (including those arising out of Tenant’s Default), will exceed all offsetting actual Rent received from Tenant, all actual and reasonably anticipatable net reletting income over the remaining Lease Term, and all security deposits and other credits, if any, to Tenant’s account. The Parties agree that such lump-sum determination is a reasonable, appropriate and agreed-upon means of liquidating damages prior to the expiration of the period of the full Lease Term, that if Landlord elects such lump-sum settlement neither Landlord nor Tenant shall be entitled to any subsequent redetermination of damages over the remaining Lease Term, and that on the payment of the lump sum, Tenant shall be released of all liability for any claim of Landlord for additional damages arising over the remaining Lease Term.
Termination of Lease. Upon occurrence of an Event of Bankruptcy, Landlord shall have the right to terminate this Lease by giving written notice to Tenant; provided, however, that this right to terminate shall have no effect while a case in which Tenant is the subject debtor under the Bankruptcy Code is pending, unless Tenant or its Trustee is unable to comply with the provisions of Sections 11.2(d) and (e) below. At all other times this Lease shall automatically cease and terminate, and Tenant shall be immediately obligated to quit the Demised Premises upon the giving of notice pursuant to this Section 11.2(a). Any other notice to quit, or notice of Landlord's intention to re-enter is hereby expressly waived. If Landlord elects to terminate this Lease, everything contained in this Lease on the part of Landlord to be done and performed shall cease without prejudice, subject, however, to the rights of Landlord to recover from Tenant all Base Annual Rent and Additional Rent and any other sums accrued up to the time of termination or recovery of possession by Landlord, whichever is later, and any other monetary damages sustained by Landlord.
Termination of Lease. Lessee shall have the right to terminate this Lease on the first day of any month upon ninety (90) days' written notification to the City. If a secured party of Lessee has a security interest of record in the hangar, the secured party must also sign the termination notice. In Lessee’s written notice, Lessee shall explicitly state that Lessee will remove the hangar described in Section 2 of this Lease within the ninety (90) day notice period. Alternatively, Lessee may request in its written notice that the hangar become the property of the City, in which case the City shall give Lessee written notification of its acceptance or denial of Lessee’s request within two (2) weeks of receiving the request. If the City denies Lessee’s request, Lessee must remove the hangar pursuant to Section 20 of this Lease. The City may terminate this Lease upon sixty (60) days' written notice if the Lessee, or any sub-lessee of Lessee, violates the terms of this Lease. If a secured party of Lessee has a security interest in the hangar, the secured party will be given notice to terminate and have the same right to cure as the Lessee. Lessee shall be deemed not to have violated the terms of this Lease unless the City has provided written notice to Lessee, and any secured party, of a violation of the Lease and such violation is not cured within thirty (30) days, or a similar violation occurs within ninety (90) days of the notice of the first violation. The secured party will also receive written notice of the termination if the default is not cured in a timely manner and have the right to take over the Lease as provided in paragraph 31. In the event that City determines that the leased premises are necessary for a public project, including but not limited to runway expansion or economic development of the airport the city may terminate this agreement upon 120 days written notice to Lessee. In the event that City exercises this option, the city will pay to Lessee the value of the remaining term of the lease. The remaining term of the lease will be determined using straight line amortization. The percentage of the remaining lease will be multiplied by the current taxable assessed value of the land and improvements (example: remaining lease term divided by total lease term equals the remaining percentage of the lease – 10 years remaining / 50 year lease term = 20% remaining of the lease. 20% multiplied by the current assessed value of $100,000 would equal $20,000). In the event that ...
Termination of Lease. In the event of either (x) any such sale and receipt by Lessor and the Indenture Trustee of all of the amounts provided in Section 10.2 in respect of the Terminated Units or (y) retention of the Terminated Units and full performance by Lessor and Lessee of their respective payment obligations in compliance with Section 10.3, and upon compliance by Lessee with the other provisions of this Section 10, the obligation of Lessee to pay Basic Rent hereunder for such Terminated Units shall cease and the Lease Term for the Terminated Units shall end.
Termination of Lease. If Lessor accepts the Burdensome Buyout Notice, (i) this Lease shall terminate on a date no later than sixty (60) days after the Burdensome Buyout Response Notice specified in the Burdensome Buyout Notice and this Lease shall terminate on such date (the “Burdensome Buyout Lease Termination Date”), (ii) except as provided in Sections 25.2, 25.3 and 25.4, and the other terms and provisions of this Lease which survive termination, neither Lessor nor Lessee shall have any rights or obligations under this Lease arising from and after the Burdensome Buyout Lease Termination Date, (iii) no further Base Rent or Additional Rent shall accrue with respect to the period after the Burdensome Buyout Lease Termination Date, (iv) Lessee shall have no obligation to take any Corrective Action with respect to the circumstances giving rise to the Burdensome Event, (v) neither Lessor nor any other Lessor Indemnified Party shall have any claim against Lessee with respect to any Corrective Action with respect to the circumstances giving rise to the Burdensome Event, or Losses arising from termination of this Lease or Lessee’s purchase of the Leased Property pursuant to this Section 25.5, (vi) all Lessee Guarantors shall be released of liability and obligations under their Lessee Guarantees, Ultra Resources shall be released of liability and obligations under the Resources Guaranty and all Lessor Guarantors shall be released of liability and obligations under their Lessor Guarantees with respect to (x) as to Lessee Guarantors and Ultra Resources only, matters for which Lessee is released in subsections (iv) and (v), preceding, and (y) matters arising or accruing from and after the Burdensome Buyout Lease Termination Date, it being understood and agreed, however, that Lessee Guarantors, Ultra Resources and Lessor Guarantors shall remain liable with respect to matters or claims arising or accruing prior to the Burdensome Buyout Lease Termination Date except those matters described in subsections (iv) and (v), preceding, and (vii) if the circumstances giving rise to such Burdensome Event include a casualty or a Taking, then the Casualty Proceeds or the Taking Proceeds, as applicable, shall be paid to Lessee.
Termination of Lease. By notice to Tenant, Landlord shall have the right to terminate this Lease as of a date specified in the notice of termination and in such case, Tenant’s rights, including any based on any option to renew, to the possession and use of the Premises shall end absolutely as of the termination date; and this Lease shall also terminate in all respects except for the provisions hereof regarding Landlord’s damages and Tenant’s liabilities arising prior to, out of and following the Event of Default and the ensuing termination. Following such termination and the notice of same provided above (as well as upon any other termination of this Lease by expiration of the Term or otherwise) Landlord immediately shall have the right to recover possession of the Premises; and to that end, Landlord may enter the Premises and take possession, without the necessity of giving Tenant any notice to quit or any other further notice, with or without legal process or proceedings, and in so doing Landlord may remove Tenant’s property (including any improvements or additions to the Premises which Tenant made, unless made with Landlord’s consent which expressly permitted Tenant to not remove the same upon expiration of the Term), as well as the property of others as may be in the Premises, and make disposition thereof in such manner as Landlord may deem to be commercially reasonable and necessary under the circumstances.
Termination of Lease. If Landlord terminates this Lease, Landlord may recover from Tenant and Tenant shall pay to Landlord, on demand, as and for liquidated and final damages, an accelerated lump sum amount equal to the amount by which Landlord's estimate of the aggregate amount of Rent owing from the date of such termination through the Expiration Date plus Landlord's estimate of the aggregate expenses of reletting the Premises, exceeds Landlord's estimate of the fair rental value of the Premises for the same period (after deducting from such fair rental value the time needed to relet the Premises and the amount of concessions which would normally be given to a new tenant) both discounted to present value at the rate of five percent (5%) per annum.
