Last Five Years of Term Sample Clauses

Last Five Years of Term. If a Casualty occurs during the final five (5) years of the Term, and if such damage or destruction cannot be substantially repaired within one (1) year from the date of such damage or destruction, subject to the rights of the Leasehold Mortgagee, County or Lessee may elect to terminate this Lease by written notice delivered to the other within sixty (60) days. If Lessee or County elects to terminate this Lease under this Section 19.5.1, Lessee shall promptly perform or complete all of the following, and the Lease shall terminate upon Xxxxxx’s performance or completion of all of the following: (i) complete Restoration (defined in Section 3.3) of the Premises, (ii) pay to the County the one-time amount equal to the Rent for lesser of three (3) Lease Years or what would have been the remainder of the Term without the termination, (iii) following completion of Restoration, deliver possession of the Premises to County and quitclaim all right, title, and interest in and to the Premises, and (v) cause to be discharged all liens and encumbrances on the Premises resulting from any act or omission of Lessee. If Lessee or County elects to terminate the Lease under this Section 19.5.1, Lessee shall not be entitled to recover any sums from County, including but not limited to any lost profit, business opportunity or administrative or legal expenses as a result of termination of the Lease pursuant to this Section. If neither Lessee or County elects to terminate the Lease under this Section, Tenant shall repair, restore and reconstruct the Premises and Improvements in accordance with Section 19.1, then Lessee shall at Lessee’s sole expense, repair, restore and reconstruct the Premises and Improvements. Insurance Proceeds Deficiency. If the cost of repair or reconstruction following a Casualty exceeds the available insurance proceeds by more than ten percent (10%), Lessee may elect to terminate the Lease, subject to and following performance of all of the following by Lessee: (i) completion of Restoration (defined in Section 3.3), (ii) payment to the County of a one-time amount equal to the Rent for three (3) Lease Years, (iii) following completion of Restoration, delivery of possession of the Premises to County and quitclaim all right, title, and interest in and to the Premises, and (v) discharge of all liens and encumbrances on the Premises resulting from any act or omission of Lessee.
Sample 1
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Last Five Years of Term. If a Casualty occurs during the final five (5) years of the Term, and if such damage or destruction cannot be substantially repaired within one (1) year from the date of such damage or destruction, subject to the rights of the Leasehold Mortgagee, County or Lessee may elect to terminate this Lease by written notice delivered to the other within sixty (60) days. If Lessee or County elects to terminate this Lease under this Section 19.5.1, Lessee shall promptly perform or complete all of the following, and the Lease shall terminate upon Lessee’s performance or completion of all of the following: (i) complete Restoration (defined in Section 3.3) of the Premises, (ii) pay to the County the one-time amount equal to the Rent for lesser of three
Sample 1

Related to Last Five Years of Term

  • Unpaid Leave - After Three Years For every three (3) years' continuous service, an employee may request, in writing, an extended unpaid leave of absence, giving the longest possible advance notice. Every reasonable effort shall be made to comply with such requests providing that replacements to ensure proper operation of the Employer's business can be found. Notice of the Employer's decision shall be in writing.

  • Five Years All full-time employees who have been continuously employed by the Employer for five (5) years shall receive three (3) weeks’ vacation with full pay.

  • Leave Year The leave year begins with the first full payroll period of a calendar year and ends with the payroll period in which December 31st falls.

  • Date of Termination “Date of Termination” means the date of receipt of the Notice of Termination or any later date specified therein, as the case may be; provided, however, that (i) if the Executive’s employment is terminated by the Company other than for Cause or Disability, the Date of Termination shall be the date on which the Company notifies the Executive of such termination and (ii) if the Executive’s employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death of the Executive or the Disability Effective Date, as the case may be.

  • Benefit Period Following the Qualifying Period you will receive a monthly income until the earlier of:

  • Meal Period A Contractor shall schedule an unpaid period of not more than 1/2 hour duration at the work location between the 3rd and 5th hour of the scheduled shift. A Contractor may, for efficiency of operation, establish a schedule which coordinates the meal periods of two or more crafts. If an employee is required to work through the meal period, the employee shall be compensated in a manner established in the applicable Schedule A.

  • Years of Service (i) A Participant’s Years of Service shall include all service performed for the Employer and ¨ Shall ¨ Shall Not include service performed for the Related Employer.

  • Vacation Year The vacation year shall be April 1 to March 31, inclusive.

  • Annual Salary Executive's compensation shall consist of an annual base salary (the "Annual Salary") of one hundred fifty thousand dollars ($150,000), before all customary payroll deductions. The Annual Salary shall be reviewed, and shall be subject to change, by the Board of Directors of Employer (or the Compensation Committee thereof) at least annually while Executive is employed hereunder.

  • Effective Date of Termination Executive’s employment will terminate on the 30th day after Executive gives written notice to the Company stating that Executive is resigning his employment with the Company for any reason other than Good Reason, unless the Company waives in writing all or part of this notice period (in which case the termination of employment is effective as of the date of the waiver).

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