Kickout definition

Kickout means the accidental release or failure of a cross brace.
Sample 1Sample 2Sample 3
Kickout clauses allow the tenant, the landlord, or both to terminate the lease if the tenant’s gross sales fail to meet a designated threshold during a designated period. The clause should clearly specify the gross sales threshold and the measurement period. The landlord should require satisfactory documentation of appli- cable gross sales, such as the certified annual report of gross sales or its equivalent. The tenant’s rights should not accrue unless it has continuously operated throughout the period, strictly in compliance with the lease requirements. The land- lord should insist on this, lest a tenant close down and then open and operate in a desultory fashion through the meas- urement period in order to acquire the termination right. The kickout remedy is simply the early termination of the lease. The clause should specify whether the parties have the right to recover their capital investment in the lease (e.g., the cost of the leasehold improvements and allowances, bro- kerage commissions, and legal fees), depending on who terminates. Tenants often object to giving the landlord a termi- nation right, arguing that the landlord is only “entitled” to the base rent, which remains payable in full if the tenant does not terminate. In many cases, the landlord truly expects to receive percentage rent and wants the right to dismiss any tenant who cannot produce it. More often, the landlord insists on a mutual termination right to keep the tenant honest. With a unilateral termination right, the tenant has every reason to establish a low gross sales threshold to its kickout rights, since this amounts to a termination option. By placing the tenant in jeopardy of losing its store via the landlord’s exercise of the kickout right, the landlord gains some assurance that the tenant will not set an artificially low gross sales trigger to its own kickout right.
Sample 1

Examples of Kickout in a sentence

  • PAR Form SSP (Sale & Settlement of Other Property Contingency), Form SSPCM (Sale & Settlement of Other Property Contingency with the right to Continue Marketing), and Form SSPTKO (Sale & Settlement of Other Property Contingency with Timed Kickout) all have the appropriate language.

  • No Termination or Kick-out Clause This lease presents no early termination or kick-out provisions.

  • Seller Financing Mortgage Assumption FHA/VA Financing Appraisal Contingency Short Sale Defective Drywall Coastal Construction Control Line Insulation Disclosure Lead Based Paint Disclosure (Pre-1978 Housing) Housing for Older Persons Rezoning Kick-out Clause Seller’s Attorney Approval Buyer’s Attorney Approval AA.Licensee-Personal Interest in Property BB.Binding Arbitration Other Homeowners’/Flood Ins.

Related to Kickout

  • Outreach means the Outreach to potential Clients to link them to appropriate Mental Health 27 Services and may include activities that involve educating the community about the services offered and 28 requirements for participation in the programs. Such activities should result in the CONTRACTOR 29 developing their own Client referral sources for the programs they offer.

  • Medical Assistance Program means the medical assistance provided pursuant to Chapter 319v of the Connecticut General Statutes (CGS) and authorized by Title XIX of the Social Security Act. The program is also referred to as Medicaid.

  • Industrial Activity means activities subject to NPDES Industrial Permits as defined in 40 CFR, Section 122.26 (b)(14).

  • Most serious offense means any of the following felonies

  • Criminal sexual activity means the commission of an act as defined in Section 886 of Title 21 of the Oklahoma Statutes, which is the act of sodomy; and

  • Sexual activity means sexual conduct or sexual contact, or both.

  • Response activity means evaluation, interim response activity, remedial action, demolition, providing an alternative water supply, or the taking of other actions necessary to protect the public health, safety, or welfare, or the environment or the natural resources. Response activity also includes health assessments or health effect studies carried out under the supervision, or with the approval of, the department of community health and enforcement actions related to any response activity.

  • Housing assistance means appropriate referrals by the

  • Commercial activity means any activity or employment of the vessel for which a contract or charter party is in force and includes the carriage of any cargo or persons for reward;

  • Traffic lane or "lane" means that portion of a roadway designed or designated to accommodate the

  • Dependent care assistance program means a benefit plan

  • Sexually violent offense means an offense for which a conviction has been entered for any of the following indictable offenses:

  • Medical assistance means medical assistance as established under title XIX of the social security act, 42 USC 1396 to 1396w-5.

  • Trafficking means offering, attempting to engage, or

  • Tour means visiting a location, for a purpose relating to the duties of a public official, and not primarily for entertainment, including:

  • Participate In means: "directly or indirectly, for his own benefit or for, with, or through any other person, firm, or corporation, own, manage, operate, control, loan money to, or participate in the ownership, management, operation, or control of, or be connected as a director, officer, employee, partner, consultant, agent, independent contractor, or otherwise with, or acquiesce in the use of his name in."

  • Nonviolent offense means an offense which is not a violent

  • Mobile crisis outreach team means a crisis intervention service for minors or families of minors experiencing behavioral health or psychiatric emergencies.

  • Combatant Commander means the commander of a unified or specified combatant command established in accordance with 10 U.S.C. 161.

  • occasional assistance means any payment or provision made by a local authority, the Welsh Ministers or the Scottish Ministers for the purposes of—

  • Violent offense means a violent offense as defined in RCW 9.94A.030;

  • Commercial sexual activity means any sex act on account of which anything of value is given to, promised to, or received by any person.

  • Employee Assistance Program means an established program for employee assessment, counseling, and referral to an alcohol and drug rehabilitation program.

  • Work stoppage means a concerted failure by employees to report for duty, a concerted absence of employees from work, a concerted stoppage of work, or a concerted slowdown in the full and faithful performance of duties by a group of employees. The officers of MSEA-SEIU, at all levels individually and collectively, agree that it is their continuing obligation and responsibility to maintain compliance with this Article, including the remaining at work during any interruption or slowdown of work which may take place.

  • Licensed assistant behavior analyst means a person who holds current certification as a Board Certified Assistant Behavior Analyst issued by the Behavior Analyst Certification Board, Inc., or any successor in interest to that organization, who is licensed as an assistant behavior analyst by the Aging and Disability Services Division of the Department of Health and Human Services and who provides behavioral therapy under the supervision of a licensed behavior analyst or psychologist.

  • Hostile environment means a situation in which bullying among students is sufficiently severe or pervasive to alter the conditions of the school climate;