Definition of Tenant Early Termination Event


Tenant Early Termination Event means any material change in local building code or local building regulations which has the actual result of making more than twenty percent (20%) of the then current number of units in the Facility unusable for the Facility's Permitted Use. For the avoidance of doubt, a Tenant Early Termination Event shall not include any general economic changes or changes in healthcare regulatory laws. Notwithstanding anything to the contrary herein, any change in local building code or local building regulations which require renovation or remodeling of the Facility to permit the continued use of the Facility for its Permitted Use shall not constitute a Tenant Early Termination event so long as Landlord has agreed to conduct such renovations at its sole cost and expense and provide Tenant a rate abatement for the term of the renovation in an amount to be mutually agreed upon by the parties.
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Examples of Tenant Early Termination Event in a sentence

Notwithstanding anything to the contrary herein contained, in the event that a Tenant Early Termination Event has occurred, then Tenant shall have the right, in its sole and absolute discretion, to terminate this Lease upon prior notice to Landlord (the "Early Termination Notice") effective as of the date designated in such Early Termination Notice.