Termination of the Lease Agreement. If either Party terminates the Lease Agreement prior to the expiration of the Lease Term without the consent from the other Party, the Party that terminates the Lease Agreement shall pay damages to the other Party to compensate for such Party’s actual loss. The amount of damages shall include, but not be limited to, the reasonable profits, out-of-pocket costs, legal service fees, Court fees, arbitration fees, accounting fees and removal or relocation fees.
Termination of the Lease Agreement. (a) With the exception of fixed-term Lease Agreements, or if provided otherwise in the Lease Agreement, each party may give notice in writing of the termination of the Lease Agreement, in observance of a notice period of at least seven (7) days.
Termination of the Lease Agreement. 4.1 Lease agreements for an indefinite period of time can be terminated with due observance of a notice period of three months, which notice must be sent by registered letter.
Termination of the Lease Agreement. 15.1. Unless the Lessee can invoke the right of withdrawal relating to distance sales, in the event of force majeure or when the Lessee has opted for a flexible Lease agreement (a '12-60' contract, concluded for a term of 60 months but terminable without charge on a monthly basis after 12 months),the Lease agreement can only be prematurely terminated by the Parties subject to payment of a termination fee. Failure to take delivery of the Vehicle will be regarded as a breach of the Lease agreement within the meaning of this article.
Termination of the Lease Agreement. 10.1. This Agreement will terminate upon one of the following cases occurs:
Termination of the Lease Agreement. Any default or non-compliance with the agreement by the Lessee, of one of the clauses in this agreement, after first demand or notice of default is sent by registered mail, will be considered as a serious breach of contract by the parties. Only in accordance with the termination of the lease agreement to the detriment of the Lessee, compensation will be owed, which is set at (six) month’s rent. This compensation is payable without prejudice to the rent and the charges until a new lessee leases the premises against lease terms that are better for the Lessor, plus any costs, expenses and expenditures arising from the termination, without prejudice to the other obligations under the lease agreement. In bankruptcy, composition, upon dissolution or liquidation of the Lessee, the immediate termination of the lease can be demanded. In this case, the Lessee would owe the same compensation (see preceding paragraph).
Termination of the Lease Agreement. Either party may terminate this Lease Agreement pursuant to section 18 if the other party fails to perform any of its material obligations under this Lease Agreement for any reason and fails to cure within thirty (30) days of written notice, or within such extended period as allowed by section 18. GMVRS’s right to occupy and use the Demised Premises pursuant to this Lease Agreement shall immediately terminate in the event that:
Termination of the Lease Agreement. A. In the event the Lease Agreement or any substitute Lease Agreement with an Approved Substitute Tenant terminates for any reason prior to the expiration of the term of this Agreement, whether as a result of the expiration of the term of the Lease Agreement (as it may be extended), the early termination of the Lease Agreement on account of Owner's exercise of its remedies thereunder, including pursuant to Section 2 hereof, or for any other reason (the date of the termination of the Lease being referred to as the "Termination Date"), Owner shall immediately cure any defaults of Owner that may exist pursuant to Owner's obligations under the Lease Agreement and shall on the Termination Date (i) take possession of the Hotels in compliance with the REIT Rules (defined below) or (ii) immediately lease the Hotels to an interim tenant ("Interim Tenant") of Owner's choosing, and then (subject to the right of first offer set forth in Paragraph C below) use its best efforts to as promptly as is practicable lease the Hotels to an Approved Substitute Tenant for a term identical to the remaining term of the current Lease Agreement (including the extension provisions thereof). Any Interim Tenant shall be a Bankruptcy Remote Entity (defined below). If the Interim Tenant defaults in any manner (including by the commencement of voluntary or involuntary bankruptcy proceedings) and such Interim Tenant does not cure such default upon receipt of written notice thereof, Owner shall, within five (5) days of receipt of written notice thereof, (i) cause such default to be cured or (ii) terminate the lease agreement with the Interim Tenant and take possession of the Hotels in compliance with the REIT Rules (defined below). If Owner directly assumes the obligations of the Lessee under the Management Agreement, the Management Agreement shall be conformed to reflect the fact that the Owner is the fee owner (or ground lessee) of the Hotels rather than a tenant. In each case, the party in possession of the Hotels (i.e., Owner, Interim Tenant, or Approved Substitute Tenant) shall as of the Termination Date take assignment of and shall assume in writing on a prospective basis all of the rights and obligations of Lessee under the Management Agreement. Manager shall recognize such party as the substitute or successor to Westboy LLC under the Management Agreement and shall satisfy all of its obligations and duties as Manager under the Management Agreement in favor of such party. Under no
Termination of the Lease Agreement. The parties hereby are waiving all notice requirements under the Lease Agreement and agree that the Lease Agreement shall be terminated effective with the close of business on June 30, 2021 upon the execution of this Agreement. As of the date hereof, each party acknowledges that all responsibilities of the other party under the Lease Agreement have been fully performed, and that neither party has any outstanding obligations or responsibilities, including payment obligations, to the other party.
Termination of the Lease Agreement. 1. With the reservation of TLC Rental’s right stipulated in point 2 hereunder, the Lease Agreement concluded for the specified time cannot be terminated with the certain period notice, but exclusively by the mutual consent of the Parties.
