Early Termination Right definition

Early Termination Right but it shall pay the Executive’s Base Salary and benefits through the earlier of: the end of the Transition Period, or the date that the Executive accepts full-time employment or a full-time consulting engagement from a third party.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Early Termination Right shall have the meaning assigned to such term in Section 11.4.

Early Termination Right have the respective meanings set forth in Section 27.1.

Examples of Early Termination Right in a sentence

• Tenant acknowledges that this provision was specifically negotiated by the parties and is a material term of this Lease and Tenant hereby waives all equitable claims and defenses that might extend the period within which Tenant may exercise the Early Termination Right or pay the Termination Fee.

• If RCA does not exercise its Early Termination Right, AD shall have the right, at any time after the date 6 months prior to the end of the 6th year of the Term, to offer ("Buy-Out Offer") to sell AD's interest in the New Entity to RCA as of the last day of the Term for a purchase price equal to the Buy-Out Offer price.

• Subject to the Early Termination Right adjustment outlined below, the Executive shall be granted certain equity interests of Sun Country Airlines Holdings, Inc., (the “Equity”), subject to the terms and conditions set forth in the Plan and any award agreement(s) thereunder.

• If a Transfer occurs (other than to a Permitted Transferee), Tenant’s Early Termination Right shall thereupon be deemed null and void.

• Subject to the due and timely exercise of the Early Termination Right, and subject to satisfaction of the above conditions, acceptance of the Termination Payment by Landlord shall constitute the parties’ irrevocable modification of the Expiration Date with respect to the Premises.

• Tenant’s exercise of the Early Termination Right shall be effective only provided, and on condition that, such Termination Payment is made by such date.

• Landlord may only exercise the Early Termination Right if as of the date of exercise of the Early Termination Right, any Landlord Entity intends in good faith to reoccupy any portions of the Premises to be terminated for its or their personal use.

• In the event that Tenant timely exercises the Early Termination Right, Tenant shall have no obligation to pay fixed rent to Landlord during the Term.

• To the extent that Tenant timely exercises such Early Termination Right, then the Expiration Date of this Lease shall be June 30, 2014, and Tenant shall have no obligation to pay Monthly Fixed Rent (or Additional Rent) for the month of July, 2014 pursuant to the schedule set forth in Section 1.1 hereof (it being agreed that the foregoing in no way alters the provisions of Section 6.1.9 of the Lease).

• If Tenant does not deliver a Termination Notice and the Termination Fee by the above deadline, Tenant’s Early Termination Right shall immediately terminate and shall be of no further force or effect.

More Definitions of Early Termination Right

Early Termination Right shall have the meaning set forth in SECTION 5.3. 1.27 "EFFECTIVE DATE" shall mean June 21, 2000. 1.28 "ENVIRONMENTAL LAW" shall have the meaning set forth in SECTION 13.1. 1.29 "EQUIPMENT LEASE" shall mean any lease or rental agreement for Operating Equipment or Furniture, Fixtures and Equipment used in the Hotel Lot and/or in connection with the Hotel Operations hereunder, or any modifications or renewals thereof, presently existing or made subsequent to the Effective Date of this Agreement. 1.30 "EXCESS FF&E" shall have the meaning set forth in SECTION 11.2. 1.31 "EXCESS OWNER RETURN" shall have the meaning set forth in SECTION 6.1. 1.32 "EXPENSES" shall mean any and all expenses paid or incurred by Operator in connection with the operation of the Hotel which may be included in determining Net Income, as determined in accordance with the Uniform System of Accounts on the accrual basis in accordance with generally accepted accounting principles consistently applied, except that Expenses shall not include: income taxes, depreciation and amortization, or interest expenses. Without limiting the generality of the foregoing, Expenses shall include the following: (a) the Base Management Fee, (b) the Marketing and Licensing Fee, (c) out-of-pocket expenses incurred specifically for, on account of or in connection with the operation of the Hotel, including reasonable travel expenses of employees and executives of any of the Sonesta Group, consistent

Early Termination Right shall have the meaning assigned to such term in Section 11.4. ________________________________________________________________________________________________________________________

Early Termination Right means the right of the Operating Partnership to terminate the Investment Period prior to its expiration, if as of the first anniversary of the date hereof, the aggregate amount of all Contributions plus the amount of Committed Contributions (as defined therein) shall equal less than $26,666,667, which right is set forth in the second to last sentence of Section 10.2 of the Joint Venture Agreement.

Early Termination Right. Tenant shall have the right, subject to the provisions of this Section 39, to terminate this Lease (“Termination Right”) with respect to the entire Premises only as of July 31, 2021 (“Early Termination Date”), so long as Tenant delivers to Landlord a written notice (“Termination Notice”), of its election to exercise its Termination Right no less than 12 months in advance of the Early Termination Date. If Tenant timely and properly exercises the Termination Right, Tenant shall vacate the Premises and deliver possession thereof to Landlord in the condition required by the terms of this Lease on or before the Early Termination Date and Tenant shall have no further obligations under this Lease except for those accruing prior to the Early Termination Date and those which, pursuant to the terms of this Lease, survive the expiration or early termination of this Lease. If Tenant does not deliver to Landlord the Termination Notice within the time period provided in this paragraph, Tenant shall be deemed to have waived its Termination Right and the provisions of this Section 39 shall have no further force or effect.”

Early Termination Right means the option of the Bank to terminate the Loss Guarantee (subject, where applicable, to the continuation of certain rights and obligations thereunder) with at least 5 Business Days prior notice to the Issuer on any Payment Date following the Collection Period during which

Early Termination Right. As defined in Section 2.1(a) hereof. Effective Date: January 1, 2008.