Cancellation of Lease. Either Landlord or Tenant may cancel this Lease upon thirty (30) days' written notice to the other.
Cancellation of Lease. This Agreement shall be terminated prior to the expiration date upon Tenant’s payment of (1) rent payments until the premises are occupied by a new tenant; and (2) all reasonable expenses involved in securing another tenant (including, but not limited to: advertising, costs of showing premises to, and credit reports of prospective tenants); and (3) must be in compliance with Paragraphs 6 and 14. Xxxxxx Properties, Inc. hereby agrees to honor a Military transfer ONLY if it is a permanent change of station assignment of a greater distance than Fifty (50) miles from the current station and Tenant gives a Thirty (30) day written notice of such along with a copy of the transfer orders and last month’s rent. Offers of on-post housing DO NOT qualify.
Cancellation of Lease. Commented [CM12]: Clause 5.1 describes the measures that the freehold lessor or the existing Working Interest Owners could take to continue operating under the PAUA, despite the cancellation, surrender or termination of a freehold lease. Without these measures, the PAUA would terminate and the parties would have to restart the unitization process. Regarding the working interest left vacant by the terminated freehold lease, the freehold lessor has priority in deciding to assume the working interest under clause 5.1(a) and can deal with the working interest subsequently. If not, then the existing Working Interest Owners can step in to preserve the PAUA under clause 5.1(b). This allows the freehold lessor to remain entitled to its share of the royalty and other benefits under the freehold lease, in addition to being able to recover some or all outstanding royalties under clause 5.2. Clause 5.1(c) was added to respond to the termination of a freehold lease. This clause is available to the freehold lessor if clause 5.1(a) and clause 5.1(b) are not taken, in order to respect the rights and interests of existing parties to the PAUA. As a last resort, if the freehold lessor and the existing Working Interest Owners do not assume the working interest, the freehold lessor can preserve the PAUA by bringing in a new freehold lessee as a new Working Interest Owner.
Cancellation of Lease. The Lessor may without notice re-enter and take possession of the premises and, with or without legal process, evict the Lessee from the premises under the following conditions: (1) rent is unpaid after it has become due and payable; (2) each condition and covenant contained in the Lease is not performed or fulfilled by the Lessee; (3) a petition in bankruptcy has been filed by or against the Lessee;
Cancellation of Lease. In the event that any Lease permits cancellation thereof on payment of consideration and the privilege of cancellation is exercised, the payments made or to be made by reason thereof are hereby assigned to Lender, and if an Event of Default has occurred, shall be applied, at the election of Lender, to the Obligations in whatever order Lender shall choose in its discretion or shall be held in trust by Lender as further security, without interest, for the payment of the Obligations. Prior to such Event of Default, Borrower may use and apply such termination payments to expenses of the Property; provided, however, that Borrower shall notify Lender in writing of the receipt and amount of any such termination payments and the name of the tenant from whom such termination payment was received.
Cancellation of Lease. Nothing in this Lease shall prevent either party from canceling the lease upon (a) a substantial increase or decrease in pupil enrollment of the respective parties; (b) a substantial change in the needs and requirements of either party with respect to the premises; or (c) any change that substantially affects the needs and requirements of either party or the community in which they are located.
Cancellation of Lease. Pursuant to West Virginia Code § 18B-19-11(d), this Lease shall be cancelable at the option of the Lessee at the end of any fiscal year. In such event, the Lessee shall redeliver possession of the Equipment to Lessor, and upon such redelivery shall be relieved from any further obligations hereunder. Cancellation of the Lease pursuant to this section shall not be deemed an event of default.
Cancellation of Lease. It is further agreed by and between the parties hereto that the Lessee shall have the right to cancel this lease, without further obligation on the part of the Lessee, upon giving thirty (30) days’ written notice to the Lessor, such notice being given at least thirty days prior to the last day of the succeeding month.
Cancellation of Lease. DOE may cancel this Lease if the Realty Officer determines that the Lessee has failed to comply with any provision of this Lease including reasonable diligence. Failure of DOE to exercise its rights to cancel shall not be deemed to be a waiver thereof.
Cancellation of Lease. In any situation where a party has the right to cancel the Lease as aforesaid due to damage or destruction, that party shall give written notice of said election within sixty (60) days after the date of the damage and this Lease shall end as of the date specified in such notice. If this Lease is so canceled, all interest of Lessee in the Premises shall terminate on the date specified in such notice and the rent shall be paid up to the date of such termination, with Base Rent reduced by the extent, if any, to which such damage interfered with the business carried on by Lessee in the Premises. If Lessor is not able to complete restoration of the Building within twelve (12) months following the date of damage, Lessee may elect to terminate this Lease (provided that the damage was not due to the fault or negligence of Lessee or its agents, employees or independent contractors).
