Common use of Early Termination Payment Clause in Contracts

Early Termination Payment. In the event of early termination of this Lease through fault of the Tenant, the Tenant shall be obligated, in addition to any other payments due to the City under the terms of this Lease, to pay to the City as an Early Termination Payment all payments due under the Lease until the Leased Premises are relet to another person or entity, but in no instance shall Tenant ever be liable to the City for more than an amount equal to one year’s annual rent as an Early Termination Payment.

Early Termination Payment. In the event of early termination of this Lease through fault of the Tenant, the Tenant shall be obligated, in addition to any other payments due to the City under the terms of this Lease, to pay to the City as an Early Termination Payment all payments due under the Lease until the Leased Premises are relet to another person or entity, but in no instance shall Tenant ever be liable to the City for more than an amount equal to one year’s annual rent as an Early Termination Payment.