Termination Penalty Clause Samples

Termination Penalty. Should Licensee terminate this Agreement within two years of the Effective Date, Licensee shall pay Licensor two million five hundred thousand ($2,500,000) dollars in addition to the requirements of section 7 below.

Termination Penalty. 18.1. Solely and exclusively in the event of early termination hereof by the LESSEE without cause, the following shall apply, to the detriment of imposition of the fine set forth in section 15.2 or any other fine set forth in this Agreement: (i) if termination occurs by the end of the fifth (5th) year of the lease term, then the LESSEE shall return to the LESSOR an amount equivalent to the grace period granted by the LESSOR, proportionally to the time remaining before the end of the initial five (5) years of the lease term and to the area being returned, be it a module or shed, upon at least one hundred and eighty (180) days’ notice, and the LESSEE shall not be required to pay any kind of additional contractual fine or penalty; (ii) if termination occurs after the fifth (5th) year of the lease term, then the LESSEE shall pay to the LESSOR a penalty equivalent to three (3) times the monthly rent, proportionally to the time remaining before expiration of the ten (10) years’ lease term and to the area being returned, be it a module or shed, upon thirty (30) days’ notice, and if the notice period is no shorter than one hundred and eighty (180) days, then no fine or penalty will be imposed on the LESSEE; and (iii) specifically for Block 01—Blue and Block 02—Green, if termination occurs by the month of August 2016, then the LESSEE shall pay a fine equivalent to three (3) times the rent, proportionally to the area being returned, be it a module or shed, upon at least sixty (60) days’ notice. After the month of September 2016, the conditions for the other modules, as set forth hereinabove, shall apply.

Termination Penalty. The agreement can be cancelled by any party at any given moment by writing or email communication. If prior to the end of the term of the agreement, for any reason, the Company terminates the agreement, the Company shall pay ARC Group a termination penalty equal to $200,000 (Two Hundred Thousand US dollars). If ARC terminates the agreement except for overdue payments or refusal from the company to cooperate, ARC Group shall pay The Company a termination penalty equal to $200,000 (Two Hundred Thousand US dollars).

Termination Penalty. If this Agreement is terminated under Section 9.1, the State shall recover from the Company a penalty in an amount equal to all lost ad valorem tax revenue from the project and interest on that amount calculated as provided by Section 111.060, Texas Tax Code.

Termination Penalty. Should Tenant exercise its right to terminate the Lease as described in Section 2.1 above, then Tenant shall pay Landlord a termination fee equal to six (6) months of rental payments plus a applicable common area expenses, property taxes and insurance. In addition to the termination penalty, Tenant agrees to pay Landlord the unamortized portion of Tenant's Improvement Allowance as defined in Section 1.7 above. The straight line amortization shall be based on ten years at 12% with a tenant improvement allowance of $300,750.00. The Lease termination shall not become effective until Landlord receives the termination penalties described above and Landlord and Tenant mutually execute a Lease termination document. Landlord agrees to waive all such penalties in the event that Tenant secures a new tenant financially acceptable to Landlord, with no additional out of pocket expenses to Landlord. Should any out of pocket expenses to Landlord be nonetheless necessary to secure the next tenant, Tenant shall reimburse Landlord up to the amount of the Termination penalty.

Termination Penalty. This Lessee, upon providing one hundred twenty (120) days written notice to the Lessor, may terminate this Lease upon the payment of penalty of Fifty-Five Thousand One Hundred Twenty ($55,120.00) Dollars.

Termination Penalty. ISP's Termination of this Agreement, prior to the agreed upon termination date as described in article 1.1. of this Agreement, will result in a penalty payment calculated according to the following formula: Number of Remaining Months of Agreement X Average Monthly Usage Fees for Prior Months of Agreement ISP agrees to pay this amount in the event of ISP's Termination of this Agreement prior to the agreed termination date described in article 1.1. of this Agreement.

Termination Penalty. The agreement can be cancelled by any party at any given moment by writing or email communication.

Termination Penalty. In the event that the Revolving Credit or Term Loan Facility is prepaid in full prior to the twenty-four month initial use period Borrower agrees to pay Lender a prepayment penalty of a) five (5)% of the Total Commitment if prepaid in months 1-6 following the initial Advance, b) one-fifth (1/6) of 5% of the Total Commitment times the number of months remaining until the end of year one but in no event less than two (2) percent of the Total Commitment if prepaid in months 7-12 following the initial Advance, and c) one-twelfth (1/12) of 2% of the Total Commitment times the number of months remaining in year two if prepaid in months 13-24 following the initial Advance.