Offer to Terminate. If Tenant desires to assign the Lease or sublease the Property, Tenant shall have the right to offer, in writing, to terminate the Lease as of a date specified in the offer. If Landlord elects in writing to accept the offer to terminate within twenty (20) days after notice of the offer, the Lease shall terminate as of the date specified and all the terms and provisions of the Lease governing termination shall apply. If Landlord does not so elect, the Lease shall continue in effect until otherwise terminated and the provisions of Section 9.05 with respect to any proposed transfer shall continue to apply.
Offer to Terminate. If Tenant notifies Landlord of its desire to assign this Lease or any interest herein, to sublet all or any part of the Premises for more than fifty percent (50%) of the remainder of the Lease Term, or to sublet more than fifty percent (50%) of the Premises for any period, Tenant's notice shall constitute an offer to terminate this Lease or Tenant's interest in the portion of the Premises specified and Landlord shall have the right, to be exercised by giving written notice to Tenant within ten (10) days after receipt of Tenant's notice, to terminate the Lease (i) entirely, in the event of a proposed assignment or a sublease of the entire Premises for the remainder of the Lease Term, (ii) as to the portion of the Premises which is the subject of a proposed sublease for more than fifty percent (50%) of the remainder of the Lease Term, or (iii) as to the portion of the Premises which is the subject of a proposed sublease of more than fifty percent (50%) of the Premises for any period, as specified in Tenant's notice. For purposes of this Paragraph 24.2(b), (i) the term of a proposed sublease shall include all options to extend or renew, and (ii) a proposed sublease shall be deemed to be for the remainder of the Lease Term if the term of the proposed sublease will expire within one year prior to the end of the Lease Term. If Tenant's notice specifies all of the Premises and Landlord elects to terminate, this Lease and the obligations of Landlord and Tenant under this Lease shall terminate on the date stated in the notice given by Tenant pursuant to Paragraph 24.2(a), except that any obligations which have accrued and are unfulfilled as of such date and any obligations under this Lease that expressly survive termination of this Lease shall survive such termination. If Tenant's notice specifies less than all of the Premises and Landlord elects to terminate, this Lease and the obligations of Landlord and Tenant under this Lease shall terminate on the date stated solely with respect to that portion of the Premises specified in Tenant's notice (except that any obligations which have accrued and are unfulfilled with respect to the terminated portion of the Premises as of such date and any obligations under this Lease with respect to such terminated portion of the Premises that expressly survive termination of this Lease shall survive such termination), and Rent and all other costs and expenses payable by Tenant hereunder shall be adjusted pro rata, based upon the nu...
Offer to Terminate. Except as provided in Section 13.05 below, Tenant shall desire to assign this Lease or sublease all or any part of the Premises, Tenant shall offer to Landlord in writing, the right to terminate this Lease as of the date specified in the offer. If Landlord shall elect in writing to accept the offer to terminate within twenty (20) days after receipt of notice of the offer, this Lease shall terminate as of the date specified in such offer and all the terms and provisions of this Lease governing termination shall apply. If Landlord shall not so elect, Tenant shall then comply with the provisions of this Article Thirteen applicable to such assignment of sublease.
Offer to Terminate. If Tenant notifies Landlord of its desire to assign this Lease or Tenant's interest herein, Tenant's notice shall constitute an offer to terminate this Lease and Landlord shall have the right, to be exercised by giving written notice to Tenant within fifteen (15) days after receipt of Tenant's notice, to terminate the Lease. If Landlord elects to terminate, then within ten (10) days after receipt of Landlord's election, Tenant shall have the right to rescind its request to assign, and this Lease shall continue in full force and effect. If Tenant does not rescind its request, this Lease shall terminate on the date stated in the notice given by Tenant pursuant to Paragraph 24.2(a), subject to any obligations which have accrued and are unfulfilled as of such date.
Offer to Terminate. If Tenant desires to assign this Lease or sublease all of any part of the Premises, Tenant will notify Landlord and Landlord for a period of thirty (30) days will have the right to terminate the Lease Term. If Tenant desires to sublease only a portion of the Premises, and such portion is subdividable (with any costs paid by Tenant), then the right to terminate may be exercised with respect to only that portion of the Premises to be subleased. If Landlord elects not to terminate the Lease Term as provided in this Section, Tenant shall pay to Landlord fifty percent (50%) of any net profits received by Tenant from any assignment of this Lease or sublet of the Premises.
Offer to Terminate. If Tenant desires to assign the Lease or sublease eighty percent (80%) or more of the Property, Tenant shall have the right to offer, in writing, to terminate the Lease as of a date specified in the offer. If Landlord elects in writing to accept the offer to terminate within twenty (20) days after notice of the offer, the Lease shall terminate as of the date specified and all the terms and provisions of the Lease governing termination shall apply; and Landlord shall pay to Tenant (which obligation to pay shall survive the termination of this Lease) fifty percent (50%) of the "profit" Landlord receives or may receive from any reletting of the Property over the period that would have been the original Lease term but for such termination. If Landlord does not so elect, the Lease shall continue in effect until otherwise terminated and the provisions of Section 9.5 with respect to any proposed transfer shall continue to apply. As used in this Section 9.4, the term "profit" shall mean all amounts Landlord receives from such reletting which exceed the amounts which would have been received from Tenant over the original Lease Term, less costs and expenses incurred directly by Landlord in connection with the execution and performance of the new lease for broker's commissions, advertising, legal fees and expenses, tenant improvements, and renovations, and concessions. Tenant's share of the "profit" received by Landlord shall be paid as received by Landlord, after recovery by Landlord of all of the foregoing costs and expenses.
Offer to Terminate. If Tenant desires to assign this Lease or sublease all or any part of the Premises to a party other than to a Permitted Transferee, Tenant will notify Landlord and Landlord for a period of 30 days will have the right to terminate the Lease Term. If Tenant desires to sublease only a portion of the Premises, and such portion is subdividable (with any costs paid by Tenant), then the right to terminate may be exercised with respect to only that portion of the Premises to be subleased. In the event that Landlord exercises such right to terminate, then Tenant may rescind its proposed assignment or sublease by written notice to Landlord within ten (10) days after receipt of Landlord's written notice of termination, in which case such termination shall be null and void and this Lease shall continue in full force and effect. If Landlord elects not to terminate the Lease Term as provided in this Section 8.2, Tenant shall pay to Landlord 50% of any net profits received by Tenant (after deduction of Tenant's reasonable transaction costs including tenant improvements, leasing commissions, legal expenses, and free rent) from any assignment of this Lease or sublet of the Premises to a party other than a Permitted Transferee.
Offer to Terminate. If Tenant desires to assign this Lease or sublease all of any part of the Premises, Tenant will notify Landlord and Landlord for a period of 30 days will have the right to terminate the Lease Term. If Tenant desires to sublease only a portion of the Premises, and such portion is subdividable (with any costs paid by Tenant), then the right to terminate may be exercised with respect to only that portion of the Premises to be subleased. If Landlord elects not to terminate the Lease Term as provided in this Section 11.2, Tenant shall pay to Landlord 100% of any net profits received by Tenant from any assignment of this Lease or sublet of the Premises.
Offer to Terminate. If Tenant desires to assign the Lease or sublease the Property, Tenant shall have the right to offer, in writing, to terminate the Lease as of a date specified in the offer. If Landlord elects in writing to accept the offer to terminate within twenty (20) days after notice of the offer, the Lease shall terminate as of the 57 of 68
Offer to Terminate. If Tenant desires to assign this Lease or sublease all or any part of the Premises, Tenant will notify Landlord and Landlord for a period of 30 days will have the right to terminate the Lease Term. If Tenant desires to sublease only a portion of the Premises, and such portion is subdividable (with any costs paid by Tenant), then the right to terminate may be exercised with respect to only that portion of the Premises to be subleased. If Landlord elects not to terminate the Lease Term as provided in this Section 11.2, Tenant shall pay to Landlord 50% of any net profits (i.e., profits after deducting the actual bona fide costs or expenses incurred by Tenant in connection with such assignment or sublease, amortized monthly on a straight-line basis over the term of the applicable sublease or assignment) received by Tenant from any assignment of this Lease or sublet of the Premises.
