Landlord Termination Right. Landlord shall have a right to terminate the Lease upon three (3) years prior written notice to the Tenant and payment of Tenant's unamortized initial construction costs of the Tenant Work as of the actual lease termination date, computed in accordance with GAAP.
Landlord Termination Right. If (i) the Leased Premises are so damaged by fire or other casualty (whether or not insured) at any time during the last thirty months of the Term that the cost to repair such damage is reasonably estimated to exceed one-third of the total Gross Rent payable hereunder for the period from the estimated completion date of repair until the end of the Term, (ii) at any time the Building (or any portion thereof, whether or not including any portion of the Leased Premises) is so damaged by fire or other casualty (whether or not insured) that substantial alteration or reconstruction (i.e., damages resulting in an Estimated Restoration Date more than twelve (12) months from the date of damage as set forth in an engineering estimate provided by Landlord) or demolition of the Building (or a portion thereof) shall in Landlord’s judgment be required, or (iii) at any time damage to the Building occurs by fire or other insured casualty and any mortgagee or ground lessor shall refuse to permit insurance proceeds to be utilized for the repair or replacement of such property and Landlord determines not to repair such damage, then and in any of such events, this Lease and the term hereof may be terminated at the election of Landlord by a notice from Landlord to Tenant within sixty (60) days, or such longer period as is required to complete arrangements with any mortgagee or ground lessor regarding such situation (not to exceed a total of one hundred twenty days), following such fire or other casually; the effective termination date pursuant to such notice shall be not less than thirty (30) days after the day on which such termination notice is received by Tenant; provided that in the case of a termination by Landlord under clause (i) or (iii) above, if Tenant may continue to lawfully occupy the undamaged portion of the Leased Premises in accordance with all applicable building codes and other legal requirements notwithstanding such casualty, Tenant may elect, by notice to Landlord given within thirty (30) days after the date that Landlord gives such termination notice, to extend such effective termination date as to the entire undamaged portion of the Leased Premises (provided that such undamaged portion includes full floors covering more than 50% of the Leased Premises existing prior to such casualty that are contiguous to each other and that Landlord may elect to exclude any space on floors not contiguous to such undamaged full floors that Landlord deems necessary for lea...
Landlord Termination Right. If, at any time during the Term (and any extensions thereof), Landlord determines, in its sole but good faith discretion, that exclusive use of the Storage Space by Landlord is necessary in connection with the operation, maintenance or repair of the Building elevator systems, Landlord shall have the right, in its sole and absolute discretion, to terminate the Lease with respect to the Storage Space by giving Tenant at least sixty (60) days prior written notice of the termination date. If the Lease is terminated with respect to the Storage Space pursuant to this Paragraph, then the Storage Space Rent shall be apportioned and paid to the date of termination. If terminated, Landlord shall use commercially reasonable efforts to identify alternative storage space in the Building to lease to Tenant.
Landlord Termination Right. Landlord and Tenant have agreed that the Landlord shall have a right to terminate the Lease by giving written notice to Tenant twelve months (12) months prior to such desired termination (the "LANDLORD TERMINATION RIGHT"). Landlord may elect to exercise such Landlord Termination Right by giving such written notice anytime after December 15, 2002 and no sooner.
Landlord Termination Right. 16.1. During the Landlord Termination Right Period, Landlord shall have the right to market and sell, and/or to market and transition operations without a sale (e.g., a transaction pursuant to which Landlord retains its ownership of, and the applicable Lease terminates relative to, a particular Property and Landlord and a successor operator enter into a lease or management arrangement with respect to such Property), any Property or Properties; provided, notwithstanding the foregoing, (x) that in the case of a sale or transition without a sale, in one or a series of related transactions, of fewer than all the Properties, Landlord shall not have the right to terminate the applicable Leases with respect to such Property or Properties pursuant to this Section 16.1 if the Portfolio Coverage Ratio for the Trailing Four Quarter Period calculated with respect to all of the Properties (excluding such Property or Properties to be sold or transitioned without a sale) shall be less than the Portfolio Coverage Ratio for the Trailing Four Quarter Period calculated with respect to all of the Properties (including such Property or Properties to be sold or transitioned without a sale), in each case based on the most recent Financial Covenant Report delivered immediately prior to the date the binding agreement(s) for such proposed transaction become so binding and effective, and (y) Landlord may not exercise the termination right pursuant to this Section 16.1 except with respect to a Qualified Property. In the event Landlord elects to market and sell and/or to market and transition without a sale any Property or Properties pursuant to this Section 16.1, the following provisions shall apply with respect to such Property or Properties:
16.1.1. In connection with the sale, or the transition without a sale, of any Property, Tenant shall comply with its obligations set forth in Section 8.2 of the A&R Master Lease;
16.1.2. Tenant shall use commercially reasonable efforts (i) to cooperate with Landlord and its Affiliates and any applicable potential purchaser and/or successor operator, and (ii) to assist Landlord and its Affiliates and any applicable potential purchaser and/or successor operator, in connection with the marketing and sale and/or marketing and transition without a sale process as reasonably requested by Landlord; and
16.1.3. Upon the consummation of any sale or any transition without a sale of a Property(ies) as provided in this Section 16.1:
16.1.3.1. the applicabl...
Landlord Termination Right. A new Section 4.03 is added to the Lease as follows:
Landlord Termination Right. Any right of Landlord to cancel the Development Lease pursuant to the provisions of Section 38-511 of the Arizona Revised Statutes has expired.
Landlord Termination Right. During the continuance of a Landlord Termination Right (as defined in the Brookdale Guaranty), subject to the terms, conditions and restrictions of Section 7.3 of the Brookdale Guaranty), Landlord will have the right to terminate this Lease with respect to any or all of the Facilities, in which case the provisions of Section 7.4.12 shall pertain. Upon such termination, Minimum Rent shall be reduced by the then applicable Proportionate Share of such Minimum Rent applicable to the terminated Facilities. The right to terminate this Lease as to any or all of the Facilities pursuant to this Section 7.3 shall constitute Landlord’s sole and exclusive remedy under this Lease on account of such Landlord Termination Event, but such limitation shall not modify any of Tenant’s obligations or Landlord’s rights or remedies under this Lease upon the occurrence and during the continuance of any Event of Default.
Landlord Termination Right. During the continuance of the Landlord Termination Right Period (as defined in the Brookdale Guaranty), subject to the terms, conditions and restrictions of Section 16 of the Brookdale Guaranty, Landlord will have the right to terminate this Lease with respect to any or all of the Facilities, in which case the provisions of Section 7.4.12 shall pertain. Upon such termination, Minimum Rent shall be reduced by the then applicable Proportionate Share of such Minimum Rent applicable to the terminated Facilities.
Landlord Termination Right. If Tenant has not started construction of the Initial Improvements by December 31, 2020, then Landlord shall have the right to terminate this Lease by delivery of sixty (60) days’ prior written notice to Tenant, and this Agreement shall automatically terminate on the expiration of such 60 day period (the “Termination Date”) unless Tenant fulfills all conditions needed to obtain the Notice to Proceed with the Initial Improvements and actually begins construction of the Initial Improvements before the Termination Date. On the Termination Date, Landlord shall also have the right to terminate the Interim Sublease.
