Common use of Break Option Clause in Contracts

Break Option. 2.1 The Tenant may terminate the Lease on either the last day of the third year of the Term or the last day of the fifth year of the Term (either a “Break Date”) subject to serving a notice in writing on the Landlord exercising the right to terminate the Lease (the “Break Notice”) not less than six (6) months prior to the Break Date and in this regard time shall be of the essence. 2.2 The Tenant shall continue to be responsible for the Initial Rent and all other payments which fall due for payment under the Lease up to and including the relevant Break Date. 2.3 The Tenant shall on or prior to the Break Date deliver vacant possession of the Demised Premises to the Landlord together with the original of the Lease and all related title documentation (including a release or discharge of all mortgages, charges and other encumbrances affecting the Demised Premises, whether registered or not), and shall (if requested by the Landlord) as beneficial owner deliver duly executed and stamped a transfer or surrender of the Lease. 2.4 The Tenant shall take all steps as may be necessary to terminate, on or before the Break Date, all sub-leases (if any) that may have been permitted pursuant to the Lease and shall deliver to the Landlord on the Break Date vacant possession of the Demised Premises. 2.5 In the event that the Tenant exercises its option to terminate the Lease on the expiration of the third year of the Term, it shall pay to the Landlord an amount equivalent to six months’ rent, service charge, insurances, rates and other outgoings payable under the Lease and shall deliver a bank draft in this amount to the Landlord on the Break Date. 2.6 Any termination pursuant to this paragraph 2 shall be without prejudice to any right or remedy of either party in respect of any antecedent breach by the other party of any of their respective covenants contained in the Lease.

Break Option. 2.1 The Tenant may terminate the Lease on either the last day of the third year of the Term 5 December 2015 or the last day of the fifth year of the Term 5 December 2017 (either a “Break Date”) subject to serving a notice in writing on the Landlord exercising the right to terminate the Lease (the “Break Notice”) not less than six (6) months prior to the Break Date and in this regard time shall be of the essence. 2.2 The Tenant shall continue to be responsible for the Initial Rent and all other payments which fall due for payment under the Lease up to and including the relevant Break Date. 2.3 The Tenant shall on or prior to the Break Date deliver vacant possession of the Demised Premises to the Landlord together with the original of the Lease and all related title documentation (including a release or discharge of all mortgages, charges and other encumbrances affecting the Demised Premises, whether registered or not), and shall (if requested by the Landlord) as beneficial owner deliver duly executed and stamped a transfer or surrender of the Lease. 2.4 The Tenant shall take all steps as may be necessary to terminate, on or before the Break Date, all sub-leases (if any) that may have been permitted pursuant to the Lease and shall deliver to the Landlord on the Break Date vacant possession of the Demised Premises. 2.5 In the event that the Tenant exercises its option to terminate the Lease on the expiration of the third year of the Term5 December 2015, it shall pay to the Landlord an amount equivalent to six months’ rent, service charge, insurances, rates and other outgoings payable under the Lease and shall deliver a bank draft in this amount to the Landlord on the Break Date. 2.6 Any termination pursuant to this paragraph 2 shall be without prejudice to any right or remedy of either party in respect of any antecedent breach by the other party of any of their respective covenants contained in the Lease.

Break Option. 2.1 The Notwithstanding anything else contained in this Lease, if the Tenant may terminate the wishes to determine this Lease on either the last day date which is the expiry of the third year of five years from the Term or Commencement Date (“the last day of the fifth year of the Term (either a “Break Option Date”) subject it shall be entitled to serving a do so PROVIDED THAT: 11.1 it gives to the Landlord not less than 12 calendar months prior notice in writing on the Landlord exercising the right to terminate the Lease (the “Break Notice”) not less than six (6) months prior to the Break Date and in this regard respect of which time shall be of the essence.; 21 Table of Contents 2.2 The Tenant shall continue 11.2 it pays to be responsible for the Initial Rent and all other payments which fall due for payment under the Lease up to and including the relevant Break Date. 2.3 The Tenant shall Landlord on or prior to the Break Option Date deliver vacant possession of a sum equivalent to 6 months rent, rates, service charges and insurance premiums payable hereunder as at the Demised Premises Break Option Date; 11.3 it discharges all rents and other payments due under this Lease up to the Landlord together with Break Option Date; 11.4 it performs and observes the original of the Lease covenants on its part and all related title documentation (including a release or discharge of all mortgages, charges and other encumbrances affecting the Demised Premises, whether registered or not), and shall (if requested by the Landlord) as beneficial owner deliver duly executed and stamped a transfer or surrender of the Lease.conditions herein contained; 2.4 The Tenant shall take all steps as may be necessary to terminate, on or before the Break Date, all sub-leases (if any) that may have been permitted pursuant to the Lease and shall deliver 11.5 it delivers up to the Landlord on the Break Option Date vacant possession of the Demised Premises.; and 2.5 In the event that the Tenant exercises its option to terminate the Lease on the expiration of the third year of the Term, 11.6 it shall pay hands back to the Landlord an amount equivalent to six months’ rentthe original of this Lease free from encumbrances and all related licences (if any) and executes and stamps a deed of surrender of this Lease in favour of the Landlord. Upon compliance with all of the foregoing, service charge, insurances, rates and other outgoings payable under all future liabilities of the Lease and parties hereto shall deliver a bank draft in this amount to the Landlord on the Break Date. 2.6 Any termination pursuant to this paragraph 2 shall be cease but without prejudice to any right or remedy the respective rights of either party to the other in respect of any antecedent breach by the other party of any of their respective covenants contained in the Leasecovenant.

Break Option. 2.1 The Tenant Lessee may terminate the this Lease on either the last day expiration of the third twelfth year of the Term or term thereof, that is, on the last 30th day of November 2012 (hereinafter referred to as "the fifth Termination Date") on the payment by the Lessee to the Lessor of the amount provided for at Sub-Clause 8.4 hereof subject strictly to the following terms and conditions:- 8.1 In relation to the Termination Date, the Lessee shall serve on the Lessor a. Notice in writing (hereinafter called the Termination Date Notice") at least twelve months' prior to the expiry of the Termination Date (but in any event not prior to the expiry of the tenth year of the Term (either a “Break Date”) subject to serving a notice in writing on the Landlord exercising the right to terminate the Lease (the “Break Notice”) not less than six (6) months prior term hereby demised); 8.2 In relation to the Break Termination Date and in this regard Notice, time shall be of the essence.; 2.2 The Tenant 8.3 In relation to the Termination Date Notice, the Lessee shall send with same to the Lessor a bank draft payable to the Lessor in an amount equivalent to six months of the then current annual rent payable by the Lessee to the Lessor under this Lease at the date of the Termination Date Notice. Should the Lessee not comply with this condition the Termination Date Notice shall be invalid and of no effect; 8.4 Notwithstanding the payment by the Lessee to the Lessor pursuant to Sub-Clause 8.3 hereof, the Lessee shall continue to be responsible for the Initial Rent rent and all other payments which fall due for payment under outgoings payable on foot of this Lease in relation to the Lease demised premises up to and including the relevant Break Termination Date.; 2.3 8.5 The Tenant shall Lessee shall, on or prior to the Break Termination Date deliver vacant possession of the Demised Premises to the Landlord together with Lessor the original of the Lease and this Lease, together with all related title documentation (including inc1uding a release or discharge of all mortgages, charges and other encumbrances affecting the Demised Premisesencumbrances, whether registered or not), ) and shall (if requested by the Landlord) as beneficial owner deliver duly executed executed~1 and stamped a transfer Transfer or surrender Surrender of this Lease and if applicable, shah procure the cancellation of the Lease.registration of this Lease in the Land Registry; 2.4 8.6 The Tenant Lessee shall take be responsible for all steps as may be necessary to terminate, Value Added Tax payable on or before the Break Date, all sub-leases (if any) that may have been permitted pursuant to Surrender of the Lease and shall deliver to the Landlord Lessor's legal costs and expenses in relation thereto; 8.7 Any such termination of this Lease, on the Break Date vacant possession of the Demised Premises. 2.5 In the event that the Tenant exercises its option to terminate the Lease on the expiration of the third year of the TermTermination Date, it shall pay to the Landlord an amount equivalent to six months’ rent, service charge, insurances, rates and other outgoings payable under the Lease and shall deliver a bank draft in this amount to the Landlord on the Break Date. 2.6 Any termination pursuant to this paragraph 2 shall be without prejudice to any right or remedy of either party in respect of any antecedent breach by either the other party Lessor or the Lessee of any of their respective covenants contained in the Leaseor conditions herein contained.