EVENTS TERMINATING LEASE Clause Samples
The 'Events Terminating Lease' clause defines specific circumstances under which a lease agreement may be brought to an end before its scheduled expiration. Typically, this clause outlines events such as a tenant's failure to pay rent, breach of significant lease terms, insolvency, or destruction of the leased premises. By clearly listing these terminating events, the clause provides both parties with a predictable framework for when and how the lease can be terminated, thereby reducing uncertainty and allocating risk in situations where continuing the lease is no longer feasible or desirable.
EVENTS TERMINATING LEASE. Cancellation of Insurance 30 16.2 Prohibited Occupancy, Bankruptcy and Other Events 31 17.1 Notices 31 17.2 Extraneous Agreements 32 17.3 Time of Essence 32 17.4 Successors and Assigns 32 17.5 Waiver 32 17.6 Governing Law and Severability 32 17.7 Captions 33 17.8 Expropriation 33 17.9 Counterparts 33 THIS LEASE dated the 17th day of July, 2006, is made and entered into by 80241 Canada Ltd. (the “Landlord”) and ICL Industrial Containers ULC (the “Tenant”) who, in consideration of the covenants herein contained, agree as follows:
EVENTS TERMINATING LEASE. The Landlord and Tenant further covenant and agree as follows:
14.01 If any policy of insurance upon the Building from Insurance time to time effected by the Landlord shall be cancelled or be about to be cancelled by the insurer or an insurer shall refuse or decline to place or renew insurance EACH AS A reason of the use or occupation of the Leased Premises by the Tenant, OTHER THAN A USE OR OCCUPATION PERMITTED PURSUANT TO PARAGRAPH 4.03 HEREOF, or any assignee, subtenant or licensee of the Tenant or anyone permitted by the Tenant to be upon the Leased Premises and the Tenant after receipt of notice in writing from the Landlord shall have failed to take such immediate steps in respect of such use or occupation as shall enable the Landlord to reinstate, renew, replace or avoid cancellation of (as the case may be), such policy or insurance,, the Landlord may at its option, at anytime and without notice:
(a) enter upon the Leased Premises and remove said use or condition, or
(b) re-enter upon and take possession of the Leased Premises and/or terminate this Lease by leaving upon the Leased Premises notice in writing of such termination.
EVENTS TERMINATING LEASE. The Lessor and Lessee further covenant and agree as follows:
EVENTS TERMINATING LEASE. 20.01 If any policy of the insurance from time to time effected by the Landlord upon the Building of which the Premises form a part shall be cancelled or about to be cancelled by the insurer by reason of the use or occupation of the leased premises by the Tenant or any assignee, subtenant or licensee of the Tenant or anyone permitted by Tenant to be upon the premises and the Tenant after receipt of written notice from the Landlord shall have failed to forthwith take such steps in respect of such use or occupation as shall enable the Landlord to re-instate or avoid cancellation of such policy of insurance, the Landlord may at its option terminate this lease by leaving upon the Premises notice in writing of such termination.
EVENTS TERMINATING LEASE. 16.1 Cancellation of Insurance 18 16.2 Prohibited Occupancy, Bankruptcy and Other Events 18 ARTICLE 17 - MISCELLANEOUS 17.1 Notices 19 17.2 Extraneous Agreements 19 17.3 Time of Essence 19 17.4 Area Determination 19 17.5 Successors and Assigns 19 17.6 Frustration 19 17.7 Waiver 19 17.8 Governing Law and Severability 20 17.9 Captions 20 17.10 Acceptance 20 17.11 Deposit 20 17.12 Expropriation 20
EVENTS TERMINATING LEASE. 16.01 Cancellation of Insurance 18 16.02 Prohibited Occupancy, Bankruptcy and Other Events 18 ARTICLE 17 - MISCELLANEOUS 17.01 Notice 18 17.02 Extraneous Agreements 19 17.03 Time of Essence 19 17.04 Certificate of Architect and Auditor 19 17.05 Successors and Assigns 19 17.06 Frustration 19 17.07 Waiver 19 17.08 Governing Law and Severability 19 17.09 Captions 19 17.10 Acceptance 19 17.11 Deposit 20 17.12 Security Deposit 20 17.13 Modifications 20 17.14 No Brokerage Commissions 20 17.15 Head Lease 20 SCHEDULE "A" FLOOR PLAN OF THE PREMISES SCHEDULE "B" DEFINITIONS SCHEDULE "C" RULES AND REGULATIONS SCHEDULE "D" COMPREHENSIVE GENERAL LIABILITY INSURANCE SCHEDULE "E" SPECIAL PROVISIONS THIS LEASE, dated the 27th day of September, 202.0made and entered into by the Landlord and T▇▇▇▇▇ named herein who, In consideration of the covenants herein contained, agree as follows:
EVENTS TERMINATING LEASE. 14.01 Cancellation of Insurance 25 14.02 Bankruptcy, Etc. 25 14.03
EVENTS TERMINATING LEASE. 16.1 Cancellation of Insurance 31 16.2 Prohibited Occupancy, Bankruptcy and Other Events 31 17.1 Notices 32 17.2 Extraneous Agreements 32 17.3 Time of Essence 32 17.4 Successors and Assigns 32 17.5 Waiver 33 17.6 Governing Law and Severability 33 17.7 Captions 33 17.8 Expropriation 33 17.9 Counterparts 33 18.1 Landlord’s Right of Development Re ▇▇▇▇▇▇ Drive Additional Lands 34 THIS LEASE dated the 17th day of July, 2006, is made and entered into by 80241 Canada Ltd, (the “Landlord”) and ICL Industrial Containers ULC (the “Tenant”) who, in consideration of the covenants herein contained, agree as follows:
EVENTS TERMINATING LEASE. Cancellation of Insurance 30 16.2 Prohibited Occupancy, Bankruptcy and Other Events 31 17.1 Notices 31 17.2 Extraneous Agreements 32 17.3 Time of Essence 32 17.4 Successors and Assigns 32 17.5 Waiver 32 17.6 Governing Law and Severability 32 17.7 Captions 33 17.8 Expropriation 33 17.9 Counterparts 33 18.1 ▇▇▇▇▇▇ Road Expansion Option 33 18.2 Determination of Project Cost; Engagement of Landlord’s Contractor 34 18.3 Optional Tender Process 35 18.4 Construction of Building Expansion 36 18.5 Completion of Building Expansion 37 18.6 Conditions to Exercise of Expansion Option 37 18.7 Other Property Lease 37 18.8 Modification of Lease Terms upon Substantial Completion of Building Expansion 38 18.9 Additional Land Reservation Option 38 18.10 Rent 39 18.11 Waiver of Rights with Respect to Additional Land 40 THIS LEASE dated the 17th day of July, 2006, is made and entered into by 80241 Canada Ltd. (the “Landlord”) and ICL Industrial Containers ULC (the “Tenant”) who, in consideration of the covenants herein contained, agree as follows:
EVENTS TERMINATING LEASE