Early Lease Termination. (a) Notwithstanding the Lease provisions herein, the Director, in his sole and absolute discretion, has the authority to terminate the Lease during the Operating Term if the use of the space is required in support of the Airport’s Five-Year or Ten-Year Capital Plan, as published annually (the “Early Lease Termination”). In the event the Director exercises this Early Lease Termination, the Airport shall provide Tenant with six (6) months’ written notice of the termination date of the Lease, upon which the Lease shall terminate and Tenant shall vacate the Premises in accordance with applicable Lease provisions contained herein.
Early Lease Termination. Tenant may choose to terminate his lease early by paying the remainder of the Monthly Rental Payments due through the end of the lease term and an Early Lease Termination fee of $225.00. Landlord will inspect the Tenant’s bedroom and common area upon receipt of Tenant’s request for early lease termination, payment of the remainder of the rent, the Early Lease Termination fee, and the Tenant’s keys. Xxxxxxxx will return Xxxxxx’s Security Deposit minus any damages in excess of the change-over preparation fee. In addition Landlord will deduct the Tenant’s portion of damages in the common area. Tenant will be relieved of all future responsibilities to the property, including damages that may occur in the common area. Landlord will make the Tenant’s room available for re-rental. All rents collected from the re-rental minus expenses to re-rent the property will be returned to the Tenant and Co-signer.
Early Lease Termination the termination of a Lease by reason of the ----------------------- prepayment in full thereof prior to its original stated maturity. Early Termination Lease - a Lease as to which there has been an Early ----------------------- Lease Termination. Eligible Lease - a Lease that satisfies the representations and -------------- warranties set forth in Section 2.04, 2.05(b) and 2.08 and, in the case of a Substitute Lease or Additional Lease, the applicable requirements of Section 11. Equipment - all units or items of equipment and related property from --------- time to time subject to any Lease. ERISA - the Employee Retirement Income Security Act of 1974, as ----- amended.
Early Lease Termination. Tenant may not sublease the Premises, assign this Lease, assign Tenant’s rights under this Lease, or allow anyone else to occupy the Premises without Landlord’s written permission in advance. Landlord’s permission may be given at Landlord’s sole discretion. Without Landlord’s written permission, any sublease or assignment will be void and ineffective. Tenant must pay Landlord a non-refundable $200.00 fee if Tenant wants to transfer or terminate this Lease, even if it is before the beginning of the Term. Tenant must find a replacement Tenant (“Replacement Tenant”) willing to take over the obligations under this Lease (“Assignment”). Landlord, at its option, may provide reasonable assistance to Tenant to find a Replacement Tenant. The Replacement Tenant must also be a Qualified Tenant. Tenant must obtain Landlord’s written consent to the Assignment. Tenant will not be released from the Lease obligations until a Replacement Tenant is located, approved, signs a lease, and moves in. If Tenant wants to assign or get out of this Lease, and no Replacement Tenant has been located, then Landlord may relocate another of Landlord’s or University’s tenants into the Premises (who will not be considered a Replacement Tenant), and may reassign/relocate Tenant into other premises. Such relocation will not relieve Tenant from the obligation to pay Rent or any other Lease obligations. If a Replacement Tenant is not found, then Tenant will remain responsible for payment for the entire Term of this Lease Tenant understands the requirements necessary to be released from the Lease under this Section 5, including:
Early Lease Termination. Landlord shall have the right to terminate this Lease upon delivery of written notice to Tenant (the “Lease Termination Notice”). The Lease Termination Notice shall specify the date of termination of the Lease (the “Early Termination Date”), which shall not be less than six (6) months from the date of delivery of the Lease Termination Notice to Tenant; provided, in no event shall the Early Termination Date be earlier than January 1, 2014. In consideration of the right of Landlord to terminate the Lease early, concurrently with Tenant’s vacation of the Lease Premises in accordance with the requirements specified in the Lease on or before the Early Termination Date specified in the Lease Termination Notice, Landlord shall pay to Tenant a “Lease Termination Fee” calculated as follows: If the Early Termination Date occurs in January, 2014, the Lease Termination Fee shall be Three Millions Dollars ($3,000,000.00). For each month after January, 2014 until the month that the Early Termination Date occurs, the Lease Termination Fee shall be reduced by Twenty-Two Thousand Dollars ($22,000.00). Tenant shall not be entitled to receive a Lease Termination Fee if the Lease is lawfully terminated by Landlord following a default of Tenant under the Lease (i.e., a default which under the terms of the Lease or under applicable law, would legally permit Landlord to declare a termination of the Lease, e.g., Tenant’s failure to pay rent, application of Lease provisions providing for termination rights following a damage or destruction of the Premises or following a governmental agency’s exercise of the right of eminent domain with respect to the Leased Premises, etc.). Notwithstanding the foregoing, if Landlord has delivered to Tenant a Lease Termination Notice specifying a Lease Termination Date that will occur on or after March 13, 2016 and Tenant has not timely exercised its right to extend the term of the Lease in accordance with Article 15 of the Lease, the Lease Termination Fee shall be equal to the product of Fifty Thousand Dollars ($50,000.00) and the number of months in the original Lease term that follows the Lease Termination Date (partial months to be prorated).”
Early Lease Termination the termination of a Lease by reason of the ----------------------- prepayment in full thereof prior to its original stated maturity.
Early Lease Termination. In the event that the tenant would like to terminate his/her lease BEFORE the agreed upon date on which the lease expires, the tenant shall be responsible for 2 months rent as a penalty for early lease termination. The tenant’s security deposit may not be used to supplement this penalty payment in any way. The tenant must leave the room in broom swept condition with no significant damage and return all keys for the premises or risk losing his/her security deposit.
Early Lease Termination. If at any time Lessee terminates Lease before the expiration of said lease, the Lessee shall be responsible for any early termination fee equal to 2 months rent or the remaining balance of said lease term, whichever is less. Xxxxxx also agrees that any and all portions of paid deposit will be forfeited.
Early Lease Termination. Notwithstanding the Lease provisions herein, the Director, in his sole and absolute discretion, has the authority to terminate the Lease during the Operating Term if the use of the space is required in support of the Airport’s Five-Year or Ten-Year Capital Plan, as published annually (the “Early Lease Termination”). In the event the Director exercises this Early Lease Termination, the Airport shall provide Tenant with six (6) months’ written notice of the termination date of the Lease, upon which the Lease shall terminate and Tenant shall vacate the Premises in accordance with applicable Lease provisions contained herein. Under this provision only, Tenant is entitled to a Lease buy-out and no other monetary payment under this Lease, at law or at equity. The buy-out is computed as the unamortized investment in "hard construction costs" as defined further in Lease Section 7.1 [Minimum Investment]. In the absence of "hard construction costs," the required Minimum Investment Amount will be used. The amortization is based on a straight-line method as applied to the Operating Term. An example of the buy-out computation is as follows: Tenant invests $500,000 in hard construction costs and has a five year Operating Term, and one two-year Extension Option. During the Operating Term and with two lease years remaining of the Operating Term, the Director exercises the Early Lease Termination provision. Using the straight line method for amortization, the buy-out to Tenant shall be $200,000 ($500,000 divided by 5 years multiplied by two lease years remaining of the term).
Early Lease Termination. Landlord shall have the right to terminate the Lease early, in Landlord’s sole discretion, upon providing the Tenant with at least one hundred eighty (180) days advance written notice of intent to terminate; provided, however, that such notice of intent to terminate shall also be accompanied by evidence of Landlord’s plan to timely construct a Qualified Redevelopment Project on the Premises.
