Lease Termination Costs definition

Lease Termination Costs means, with respect to each Terminated Lease, the sum of (i) the Lease Book Value of such Terminated Lease, (ii) the Lease Restoration Costs for such Terminated Lease and (iii) the net present value of the Contribution for such Terminated Lease (applying a discount rate equal to the Reference Rate) for what would have been the remaining term (excluding options to extend or renew) of the subject Lease (except that a Lease having a remaining term of less than one year and a month-to-month Lease shall be treated as having a remaining term of one year and a Lease having a remaining term of greater than two years shall be treated as having a remaining term of two years).
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Lease Termination Costs shall have the meaning set forth in Schedule 6.1(i).
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Examples of Lease Termination Costs in a sentence

  • The Assumed Liabilities do not include the following: (a) Old Trade Payables set forth on Schedule 2.2(a), and (b) Accrued Lease Termination Costs, as set forth on Schedule 2.2(b) (collectively, the “Retained Liabilities”), which shall be retained by Seller, and paid, discharged and/or otherwise satisfied by Seller, at Seller’s option, without liability to the Buyer.

  • Buyer has the option of requiring the Company to (i) obtain a full release at a cost not to exceed $25,000 in the aggregate to Buyer or Company from any and all liabilities associated with the New Leases, or (ii) make payments (the "Lease Termination Costs") necessary to obtain a release of any and all liabilities associated with the New Leases.

  • In the event that the Company pays Lease Termination Costs, such payments shall be treated as a liability or Undisclosed Liability for the purpose of calculating the number of Shares issued to Buyer pursuant to Section 1 of this letter of intent.