Break Option definition
Examples of Break Option in a sentence
The reference terms to be used by the Technical Expert in preparing the Evaluation Report, the preparation and the agreement or determination of any breach of any Covenant and any consequent adjustment to be made to the Break Fee calculation shall be agreed between the Buyer and the Seller no later than three (3) months prior to the Break Option Completion Date.
In the event of the AUTHORITY exercising the Break Option in accordance with Clause 11.2 the AUTHORITY shall pay to the CONTRACTOR the Termination Charge as specified in Part 7 of Schedule 12 on or before the date specified in the notice for the Break Option to take effect.
In the event that the Council exercises a Break Option the Parties agree that the Payment and/or the Services Specification will be reviewed as a Business Plan Review.
The covenants in this Clause 16 shall only apply until the earlier of (a) the Break Option Date and (b) the Enforcement Option Completion Date.
Notwithstanding the foregoing the Tenant shall continue to pay all rent and perform and observe all the covenants and conditions hereinafter contained and on his part to be performed and observed up to the relevant Break Option Date.
If the Tenant shall be desirous of determining this present Lease on the 1st day of September 2004 or 1st day of September 2005 then he shall deliver to the Landlord or leave for him or send to him by registered post at his last known place of address at least six months prior to the relevant Break Option Date written notice of such intention to determine the present Lease which said notice shall specify the relevant Break Option Date upon which this Lease will absolutely cease and determine.
For the avoidance of doubt and notwithstanding the contents of this Agreement, in the event that the Assignment has not completed prior to 18 September 2016 the Tenant reserves the right to exercise the Break Option under the Lease.
In particular, Balmain Asia shall have the option (the “Break Option”) to terminate the Sub-license Agreement at any time during the period commencing from 1 January 2017 and ending on 31 December 2021 provided that the Break Option shall lapse and cease to be exercisable upon the exercise of the Ex-PRC JV Call Option by Balmain Asia.
Mutual Break Option xxxxx or the Sponsor may terminate this Agreement on xx day of xxx 20xx which is xxx years from the Commencement Date on giving not less than xxx (x) months’ written notice to the other, for which time shall be of the essence, provided that on expiry of any such notice given by the Sponsor to xxx the Sponsor has paid xxxxx all sums falling due under this Agreement prior to the Break Date.
The Landlord hereby affords to the Tenant the option to determine the present Lease on the following dates: 1st day of September 2006 or 1st day of September 2006 (herein collectively known as “the Break Option Date”).