LESSEE'S OPTIONS Sample Clauses

LESSEE'S OPTIONS. Not later than 360 days nor earlier than 390 days in the case of the Sale Option or not later than 120 days nor earlier than 150 days in the case of the Purchase Option prior to the last day of the Lease Term, Lessee shall, by delivery of written notice to Agent and the Lessor, exercise one of the following options: (a) Subject to Section 15.2, including, without limitation, the first sentence thereof, purchase for cash for the Purchase Amount all, but not less than all, of the Items of Equipment then subject to this Lease on the last day of the Lease Term (the “Purchase Option”); and if Lessee shall have elected to purchase the Items of Equipment, Lessor shall, upon the payment to Agent of the Purchase Amount then due and payable by Lessee under the Operative Documents, transfer all of Lessor’s right, title and interest in and to the Items of Equipment “as-is” without recourse or warranty (except as to the absence of Lessor Liens); or (b) Subject to Section 15.2, including, without limitation, the first sentence thereof, sell as non-exclusive agent, on behalf of Lessor, for cash to a purchaser or purchasers all, but not less than all, of the Items of Equipment then subject to this Lease on the last day of the Lease Term (the “Sale Option”). Lessee’s right to sell the Items of Equipment pursuant to the Sale Option shall be conditioned upon and subject to the fulfillment by Lessee of each of the terms and conditions set forth in this Article XV. Simultaneously with a sale on or prior to the last day of the Lease Term pursuant to the Sale Option, Lessee shall pay or cause to be paid to Agent, (i) the Sale Recourse Amount, (ii) the gross proceeds of the sale of the Equipment, without deductions or expense reimbursements (the “Sale Proceeds”), and (iii) all accrued and unpaid Rent and all other amounts due under the Operative Documents and, if such sale occurs prior to the last day of the Lease Term, all Capital Rent not previously paid by Lessee and which would have become due under the Operative Documents on or before the last day of the Lease Term. If the amounts received by the Agent pursuant to the immediately preceding sentence exceed the aggregate outstanding Lease Balance and all other amounts due and owing by Lessee under the Operative Documents, Agent will pay to Lessee such excess amount. The amount payable pursuant to this Section 15.1(b) shall in no event be construed to limit any other obligation of Lessee under the Operative Documents, including...
Sample 1Sample 2See All (9)
AutoNDA by SimpleDocs
LESSEE'S OPTIONS. Not later than 360 days prior to the last day of the Base Term or any Renewal Term then in effect for each Schedule, Lessee shall by delivery of written notice to Lessor exercise one of the following options (provided that paragraph (a) below shall not be applicable with respect to the last Renewal Term applicable to any Unit): (a) renew this Lease with respect to all, but not less than all, of the Units then subject to such Schedule for an additional one year Renewal Term (the "RENEWAL OPTION") on the terms and conditions set forth herein; or (b) purchase for cash for the Purchase Option Exercise Amount all, but not less than all, of the Units then subject to such Schedule on the last day of the Base Term or Renewal Term with respect to which such option is exercised (the "FIXED PRICE PURCHASE OPTION"); or (c) sell on behalf of Lessor for cash to a purchaser or purchasers not in any way affiliated with Lessee all, but not less than all, of the Units then subject to such Schedule on the last day of the Base Term or of any Renewal Term then in effect with respect to which such option is exercised (the "SALE OPTION"). Simultaneously with a sale pursuant to the Sale Option, Lessee shall pay to Lessor, from the gross proceeds of sale of Units subject to such Schedule, without deductions or expense reimbursements (the "PROCEEDS"), the Schedule Balance with respect to such Schedule as of the termination date (as determined after any payment of Rent on such date). If the Proceeds exceed the Schedule Balance for such Schedule together with all other amounts owed by Lessee under the Lease but do not exceed the Lease Balance, the excess will be retained by Lessor to secure the remaining obligations of Lessee under the Lease. If the Proceeds exceed the Lease Balance, together with all other amounts owed by Lessee under the Lease, Lessee will retain the portion of the Proceeds in excess thereof. If the Proceeds are less than the applicable Schedule Balance as of such date, Lessee will pay or will cause to be paid to Lessor on the termination date in addition to all other amounts owed under the Lease: (i) the Proceeds; and (ii) at Lessor's option either: (x) the Applicable Percentage Amount with respect to such Schedule or (y) the Recourse Deficiency Amount with respect to such Schedule (the amount determined pursuant to this CLAUSE (II) shall be referred to as the "SALE RECOURSE AMOUNT" as to any Schedule); PROVIDED that in no event shall the Sale Recourse Amount exce...
Sample 1See All (4)
LESSEE'S OPTIONS. So long as all amounts due Lessor have been paid and no Event of Default has occurred and is continuing, Lessee may, upon at least sixty (60) days advance written notice to Lessor, have the option at the expiration of the Minimum Term to: (i) purchase the Equipment at fair market value; (ii) continue the Lease as provided in Paragraph 3 of this Lease; or (iii) return the Equipment to Lessor as provided in Paragraph 22 herein. So long as all amounts due Lessor have been paid and no Event of Default has occurred and is continuing, Lessee may, upon at least sixty (60) days advance written notice to Lessor, have the option at the expiration of the Scheduled Lease Term to: (i) purchase the Equipment at the Purchase Option Amount specified on the applicable Schedule A or if no such amount is specified, at fair market value; (ii) renew the Lease as provided in Paragraph 2 herein; or (iii) return the Equipment to Lessor as provided in Paragraph 22 herein. As used in this Paragraph 23, Equipment shall mean all, but not less than all, of the Equipment described in any Schedule A.
Sample 1Sample 2
LESSEE'S OPTIONS. This listing represents changes assumed to accommodate the desired Lessee configuration and is subject to confirmation on availability and agreed effect on lease pricing and delivery schedule. I. 2210CG3197 G/S CAP INHIBIT BEFORE LOC (ADD) 2210CG3198 DFCS - CWS WARN (DELETE) 2210CG3232 DFCS - ALT ALERT 200/900 FT (DELETE) 2210CG3235 DFCS - ALT ALERT 300/900 (ADD) 2350CG3147 CW INTERPHONE SW - SPRING LOAD TO OFF W/LOCK (DELETE) 2350CG3158 CW INTERPHONE SW - SPRING LOAD TO OFF (ADD) 2350CG3153 FLT COMP AUDIO MUTE REVISION - ONE SIDE MUTING (ADD) 2350CG3163 DIG. AUDIO REMOTE ELECT. UNIT - DEL HEADSET AURAL (ADD) 3162CG3018 ENHANCED MACH / A/S DISPLAY (DELETE) 3162CG3019 R/A DISPLAY - ROUND DIAL (ADD) 3162CG3020 R/A ABOVE ADI (DELETE) 3162CG3021 R/A BELOW ADI (ADD) 3162CG3025 R/A ALERT 2,500 FT (DELETE) 3162CG3026 ALT. COMPARATOR - STEADY (ADD) 3162CG3027 ALT. COMPARATOR - FLASHING (DELETE) 3162CG3036 AUTOTUNED NAVIDS - DISPLAYED (ADD) 3162CG3037 AUTOTUNED NAAIDS - SUPPRESSED (DELETE) 3162CG3104 ENG INSTR DISPLAY - SIDE BY SIDE (ADD) 3162CG3105 ENG INSTR DISPLAY - OVER & UNDER (DELETE) 3162CH3135 ADDED T/O BUG - NOT DISPLAYED (ADD) 3162MP3186 WX RDR RANGE IND - RANGE MARKS IN LIEU ARCS (ADD) 3446CG3120 GPWS ACT OF DESCENT BELOW MIN (MODE 6) (DELETE) 3446CG3127 GPWS R/A CALLOUTS (100, 50, 30, 20, 10) (ADD) 3446MP3172 GPWS VOICE "HALF VOL" IN LIEU "FULL VOL" (ADD) 3461CG3432 THRUST REDUCTION ALT - T/O PROFILE (ADD) 3461CG3498 FMC ACTIVATION - 1 MEG DATA BASE (ADD) $77,300 3461CH3562 FMC ACTIVATION - RETENTION OF WAYPOINT AFTER DIRECT TO $9.900 II. P/N SWAP CONTINENTAL TOMBO -------- ----------- ----- 1 SSCVR LORAL/FAIRCHILD 2000-0000-00 ALLIED SIG 2370MP3215 2370CH3199 2 FLASHLIGHT DME P2-07-0001-215 P2-07-0001-214 2564MP3127 3 DFDAU 223300-83 TELEDYNE DFDMU 3131MP3883, 3131MP3999 3131CH3935 RR97155-26,-29 4 SSDFDR LOCKHEED 3131MP3847 ? 7 WX RDR X/XXX XXXXXXX 000-0000-000 ALLIED SIGNAL 3443MP3264 3443CG3184 8 WX RDR SPLIT FUNC C/P COLLINS 622-0000-000 3443MP3259 ? 10 ATC/TCAS CONT. PNL GABLES G6992-40 ? 3445MP3332 11 FMC CDU (MULTI-PURPOSE) FMC/ACARS/FDAU FMC CDU ONLY 3461CG3465 3461CG3464 12 CREW O0 XXXXXX 114 CU FT 76 CU FT 3510CE3098 3510CG3097 14 RADOME REV. M&N AEROSPACE BAC STD 5352MP3015 15 EVM ENDEVCO W/TRIM BAL VIBROMETER 7731CG3038 7731MP3045 16 COOL WHITE LIGHT 3320MP3039 STD III. BOEING ADD & DEL 1124CG3V02 EXIT TACTILE LOCATOR (ADD) 3450MP3006 REMOVAL ADF DELETE 144 ALL COACH SEATS INSTALL CONTINENTAL G1/G4B GALLEYS DELETE DRAPE MAT INSTALL CONTINEN...
Sample 1Sample 2
LESSEE'S OPTIONS. Lessor and Lessee agree that, notwithstanding terms contained in the Lease to the contrary, so long as no Event of Default has occurred and is continuing, at the expiration of the Minimum Term Lessee shall have the option: (i) to purchase the Equipment at fair market value, (ii) Continue the Lease as provided in Paragraph 3 of this Lease, or (iii) return the Equipment to Lessor as provided in Paragraph 22 herein. At the expiration of the Scheduled Lease Term, Lessee shall have the option to (i) purchase the equipment at fair market value or at the Purchase Option Amount specified on the applicable Schedule A; (ii) renew the Lease as provided in Paragraph 2 herein, or (iii) return the Equipment to Lessor as provided herein.
Sample 1
LESSEE'S OPTIONS. Notwithstanding the provisions of Section 11.1 above, if such damage or destruction occurs during the last two (2) years of the term of the letting and the cost of rebuilding, restoration, repair or replacement shall exceed fifty percent (50%) of the then full insurable value on a replacement cost basis of the Building immediately prior to such damage or destruction, the Lessee shall have the option of either: (i) performing all rebuilding, restoration, repairs, replacements or alterations required, in accordance with the provisions of this Agreement, or (ii) terminating the letting under this Agreement in its entirety by written notice to the Port Authority given within thirty (30) days after the occurrence of such damage or destruction, provided, that there shall be in force and effect the required insurance valid and subsisting and adequate to cover such damage or destruction without any defenses to the payment by the insurance carriers based upon acts or omissions of the Lessee or of any other insureds other than the Port Authority and the City and provided, further, that both at the time of the giving of notice and on the effective date thereof: (x) the Lessee is not in default under any of the provisions of this Agreement or under notice of termination from the Port Authority, and (y) this Agreement and any buildings, structures, improvements, fixtures and equipment, furnishings and physical property located on the Premises are unencumbered by any mortgage, security interest, judgments, or other liens (to be evidenced by a search made by a title company acceptable to the Port Authority and to be furnished by the Lessee at its sole cost and expense) and free from any pending matters that might develop into additional rental unless the Lessee shall secure payment and discharge of such mortgages, security interests, judgments or other liens and the payment of such additional rental to the Port Authority in a manner satisfactory to the Port Authority.
Sample 1
LESSEE'S OPTIONS. (a) So long as no Event of Default has occurred and is continuing, Lessee shall have the option at any time during the Lease Term, and upon five (5) days written notice to Lessor, to (i) purchase all, but not less than all, the Fixed Assets (the "Purchase Option") for $1,498,884.66 (the "Gross Purchase Price") less the aggregate amount of all Rent paid through and including the date Lessee delivers notice to Lessor of its election to exercise the Purchase Option, or (ii) terminate this Lease with no further Rent obligation owed from Lessee to Lessor. (b) At such time as the aggregate amount of all Rent paid under this Lease equals or exceeds the Gross Purchase Price, Lessor shall transfer to Lessee, without recourse or warranty, all of Lessor's right, title and interest in the Fixed Assets. (c) In the event Lessee acquires right, title and interest in the Fixed Assets, whether through the mechanisms described in Paragraphs 17(a) and (b) above or otherwise, Lessor shall execute any and all documents requested by Lessee to evidence transfer of the Fixed Assets to Lessee, including, without limitation, bills of sale.
Sample 1
AutoNDA by SimpleDocs
LESSEE'S OPTIONS. (a) Lessee shall have the right, at its sole option, at anytime after the eighty-fourth (84th) month of the Lease Term, to terminate the Lease upon not less than nine (9) months’ advance written notice to Lessor with a penalty equal to five (5) months’ of then Base Rent. (b) Upon expiration of the initial Term, Lessee shall have two (2) options to extend the Lease for an additional five (5) years at 95% of fair market rental for comparable retail projects in the area. Lessee must give Lessor at least six (6) months’ prior written notice of its exercise of the option. The fair market rental shall be determined by taking the average of the Lessor’s and the Lessee’s real estate brokers and must be agreed upon in writing by Lessor and Lessee.
Sample 1
LESSEE'S OPTIONS. Upon the occurrence of any event of default, Lessee may do any one or more of the following without any notice or demand whatsoever:
Sample 1

Related to LESSEE'S OPTIONS

  • Landlord’s Options Landlord shall have the option, exercisable by written notice delivered to Tenant within twenty (20) days after Landlord’s receipt of a Transfer Notice accompanied by the other information described in Section 12.1, to: (a) permit Tenant to Transfer the Premises; or (b) disapprove (provided, Landlord’s disapproval must be in accordance with Section 12.1 hereof) the Tenant’s Transfer of the Premises and to continue the Lease in full force and effect as to the entire Premises; or (c) in the event of (i) a proposed assignment of the Lease or (ii) a sublease of more than 50% of the Premises (taking into account all sublets in the aggregate) for all or substantially all of the balance of the Term, terminate the Lease as of the proposed effective date of the Transfer set forth in Tenant’s Transfer Notice (a “Recapture”); provided, however, that if Landlord shall notify Tenant of Landlord’s intention to Recapture the Premises, Tenant may elect to withdraw its Transfer Notice by written notice of such election delivered to Landlord within ten (10) business days of Tenant’s receipt of Landlord’s Recapture notice. If Landlord approves of the proposed Transfer pursuant to Section 12.1 above, Tenant may enter into the proposed Transfer with such proposed Transferee subject to the following conditions: (i) the Transfer shall be on the same terms set forth in the Transfer Notice; and (ii) no Transfer shall be valid and no Transferee shall take possession of the Premises until an executed counterpart of the assignment, sublease or other instrument effecting the Transfer (in the form approved by Landlord) has been delivered to Landlord pursuant to which the Transferee shall expressly assume all of Tenant’s obligations under this Lease applicable to that portion of the Premises then being transferred (provided that, for a subtenant, the rental obligations shall be governed by the terms of the applicable sublease). If Landlord exercises its option to terminate this Lease (or in the case of a partial sublet to release Tenant with respect to a portion of the Premises) as provided above, Tenant shall surrender possession of the Premises on the proposed effective date of the Transfer set forth in Tenant’s Transfer Notice, and thereafter neither Landlord nor Tenant shall have any further liability with respect thereto, except with respect to those matters that expressly survive the termination of the Lease.

  • Renewal Options a. Tenant shall have the right and option to renew the Lease (“Renewal Option”) for two (2) successive renewal periods of five (5) years each (each, an “Option Term”); provided, however, the Renewal Option is contingent upon the following: (i) there is not an Event of Default beyond all applicable cure period(s) at the time Tenant gives Landlord notice of Tenant’s intention to exercise the Renewal Option or at the expiration of the current Term; (ii) no event has occurred that upon notice or the passage of time would constitute an Event of Default, unless Landlord has given notice of default and Tenant is diligently attempting to cure such event; and (iii) Tenant is occupying the Premises. Following expiration of the final Option Term allowable hereunder, Tenant shall have no further right to renew the Lease pursuant to this Section 5. b. Tenant shall exercise the Renewal Option by giving Landlord notice at least one hundred eighty (180) days prior to the expiration of the current Term. If Tenant fails to give notice to Landlord prior to the 180-day period, then Tenant shall forfeit the Renewal Option. If Tenant exercises the Renewal Option, then during the Option Term, Landlord and Tenant’s respective rights, duties and obligations shall be governed by the terms and conditions of the Lease, except as provided otherwise in this Section. Time is of the essence in exercising the Renewal Option. c. The Base Rental for an Option Term shall be the Fair Market Rental Rate. “Fair Market Rental Rate” shall mean the market rental rate for the time period such determination is being made for office space in same class office buildings in the area of Murfreesboro, Tennessee (the “Area”) of comparable condition for space of equivalent quality, size, utility, and location. Such determination shall take into account all relevant factors, including, without limitation, the following matters: the credit standing of Tenant; the length of the term; the fact that Landlord will experience no vacancy period and that Tenant will not suffer the costs and business interruption associated with moving its offices and negotiating a new lease; construction allowances and other tenant concessions that would be available to tenants comparable to Tenant in the Area (such as moving expense allowance, free rent periods, and lease assumptions and take over provisions, if any, but specifically excluding the value of improvements installed in the Premises at Tenant’s cost), and whether adjustments are then being made in determining the rental rates for renewals in the Area because of concessions being offered by Landlord to Tenant (or the lack thereof for the Option Term in question). For purposes of such calculation, it will only be assumed that Landlord is paying a representative of Tenant a brokerage commission in connection with the Option Term in question if Landlord is in fact paying a brokerage commission to a representative of Tenant in connection with the applicable Option Term.

  • Landlord’s Option to Repair Notwithstanding the terms of Section 11.1 of this Lease, Landlord may elect not to rebuild and/or restore the Premises, Building and/or Project, in which event this Lease shall terminate, by notifying Tenant in writing of such termination within sixty (60) days after the date of discovery of the damage, such notice will include a termination date giving Tenant sixty (60) days to vacate the Premises, but this Lease may be so terminated Landlord may so elect only if the Building or Project shall be damaged by fire or other casualty or cause, whether or not the Premises are affected, and one or more of the following conditions is present: (i) in Landlord’s reasonable judgment, repairs cannot reasonably be completed within one hundred eighty (180) days after the date of discovery of the damage (when such repairs are made without the payment of overtime or other premiums); (ii) the holder of any mortgage on the Building or Project or ground lessor with respect to the Building or Project shall require that the insurance proceeds or any portion thereof be used to retire the mortgage debt, or shall terminate the ground lease, as the case may be; (iii) the damage is not fully covered by Landlord’s insurance policies or that portion of the proceeds from Landlord’s insurance policies allocable to the Building or the Project, as the case may be; (iv) Landlord decides to rebuild the Building or Common Areas so that they will be substantially different structurally or architecturally; (v) the damage occurs during the last twelve (12) months of the Lease Term; or (vi) any owner of any other portion of the Project, other than Landlord, does not intend to repair the damage to such portion of the Project; provided, however, that if such fire or other casualty shall have damaged the Premises or a portion thereof or Common Areas necessary to Tenant’s occupancy and as a result of such damage the Premises are unfit for occupancy, and provided that Landlord does not elect to terminate this Lease pursuant to Landlord’s termination right as provided above, and either (a) the repairs cannot, in the reasonable opinion of Landlord’s contractor, be completed within two hundred seventy (270) days after being commenced, or (b) the damage occurs during the last twelve months of the Lease Term and will reasonably require in excess of ninety (90) days to repair, Tenant may elect, no earlier than sixty (60) days after the date of the damage and not later than ninety (90) days after the date of such damage, to terminate this Lease by written notice to Landlord effective as of the date specified in the notice, which date shall not be less than thirty (30) days nor more than sixty (60) days after the date such notice is given by Tenant.

  • Lessee's Improvements Since Lessor is the Insuring Party, Lessor shall not be required to insure Lessee-Owned Alterations and Utility Installations unless the item in question has become the property of Lessor under the terms of this Lease.

  • Tenant’s Rights If a material portion of the Premises is damaged by Casualty such that Tenant is prevented from conducting its business in the Premises in a manner reasonably comparable to that conducted immediately before such Casualty and Landlord estimates that the damage caused thereby cannot be repaired within one hundred eighty (180) days after the commencement of repairs (the “Repair Period”), then Tenant may terminate this Lease by delivering written notice to Landlord of its election to terminate within thirty (30) days after the Damage Notice has been delivered to Tenant.

  • Tenant’s Risk Tenant agrees to use and occupy the Premises, and to use such other portions of the Building and the Project as Tenant is given the right to use by this Lease at Tenant’s own risk. The Landlord Parties shall not be liable to the Tenant Parties for any damage, injury, loss, compensation, or claim (including, but not limited to, claims for the interruption of or loss to a Tenant Party’s business) based on, arising out of or resulting from any cause whatsoever, including, but not limited to, repairs to any portion of the Premises or the Building or the Project, any fire, robbery, theft, mysterious disappearance, or any other crime or casualty, the actions of any other tenants of the Building or of any other person or persons, or any leakage in any part or portion of the Premises or the Building or the Project, or from water, rain or snow that may leak into, or flow from any part of the Premises or the Building or the Project, or from drains, pipes or plumbing fixtures in the Building or the Project. Any goods, property or personal effects stored or placed in or about the Premises shall be at the sole risk of the Tenant Party, and neither the Landlord Parties nor their insurers shall in any manner be held responsible therefor. The Landlord Parties shall not be responsible or liable to a Tenant Party, or to those claiming by, through or under a Tenant Party, for any loss or damage that may be occasioned by or through the acts or omissions of persons occupying adjoining premises or any part of the premises adjacent to or connecting with the Premises or any part of the Building or otherwise. Notwithstanding the foregoing, the Landlord Parties shall not be released from liability for any injury, loss, damages or liability to the extent arising from any gross negligence or willful misconduct of the Landlord Parties on or about the Premises; provided, however, in no event shall the Landlord Parties have any liability to a Tenant Party based on any loss with respect to or interruption in the operation of Tenant’s business. The provisions of this Section shall be applicable until the expiration or earlier termination of the Lease Term, and during such further period as Tenant may use or be in occupancy of any part of the Premises or of the Building.

  • Subleased Premises Sublandlord hereby subleases to Subtenant and Subtenant hereby subleases from Sublandlord for the term, at the rental, and upon all of the conditions set forth herein, the Subleased Premises.

  • Tenant’s Plans (i) Tenant shall diligently pursue the preparation of all drawings, plans and specifications for Tenant Improvements in accordance with this Paragraph 2(b). All such plans, drawings and specifications shall be performed by an architect and/or engineer (as applicable) reasonably acceptable to Landlord and Tenant, and shall include the following: (i) a space plan for the Premises; (ii) complete architectural, engineering and other plans for the Tenant Improvements; and (iii) a list of tenant improvement building standards for interior design, including a schedule (e.g. color palate, material board and spec sheets) of all interior color and finishes. Items (ii) and (iii) above are collectively referred to herein as “Working Drawings”. The space plan and Working Drawings shall comply with all applicable regulations, laws, ordinances, codes and rules. Tenant shall submit its space plan to Landlord, for review and approval in Landlord’s sole discretion. Within ten (10) business days after such submission, Landlord shall either approve or disapprove the space plan. Tenant shall make any changes necessary in order to correct any item identified by Landlord as grounds for its disapproval, and shall resubmit the correct space plan to Landlord within ten (10) business days after Landlord’s disapproval. Within ten (10) business days after Landlord received the revised space plan, Landlord shall approve or disapprove it. This procedure shall be repeated until the space plan is finally approved by Landlord and written approval has been delivered to Tenant. If Landlord fails to approve or disapprove any submission within the required time period Landlord shall be deemed to have disapproved such submission. Landlord has approved the space plan for Building 2, a copy of which is attached hereto as Schedule 2 (the “Building 2 Space Plan”), subject to Landlord’s right to review and approve the Working Drawings, interior color and finishes, materials, specifications, and other items pursuant to Paragraph 2(b)(ii) and (iii) below, and further subject to compliance and conformance with the Minimum Specifications (as defined in Paragraph 2(b)(iii) below). (ii) Within twenty-one (21) days after Landlord has finally approved Tenant’s space plan, Tenant shall submit its Working Drawings and a pallet of interior colors and finishes to Landlord for Landlord’s review and approval, in Landlord’s sole discretion. Landlord’s approval or disapproval of such Working Drawings and pallet, and Tenant’s response thereto, shall follow the procedure (including deemed disapproval) described in Subsection (i) above with respect to the space plan. All items finally approved by Landlord pursuant to this Paragraph 2(b) are referred to herein collectively as “Tenant’s Plans”. Once approved by Landlord, no changes shall be made to Tenant’s Plans without the prior written approval of Landlord, in Landlord’s sole discretion. (iii) Landlord has established a partial list of Minimum Building Specifications for Building 2 (the “Minimum Specifications”) which is attached to this Exhibit as Schedule 1, for use in the design and construction of the Tenant Improvements, provided that the Minimum Specifications is not a complete list of products, specifications and finishes to be used in the construction of the Tenant Improvements and accordingly, Tenant shall cause to be described in the Working Drawings all products, specifications and finishes to be used in the construction of the Tenant Improvements which are not otherwise listed on, or which deviate from, the Minimum Specifications, all of which shall be subject to Landlord’s approval in Landlord’s sole discretion. Unless otherwise expressly agreed to by Landlord, the portion of the Tenant Improvements pertaining to the products, specifications and finishes specified in the Minimum Specifications shall comply with the Minimum Specifications.

  • Landlord’s Option as to Subject Space Notwithstanding anything to the contrary contained in this Article 14, in the event Tenant contemplates a Transfer other than to a Permitted Transferee which, together with all prior Transfers then remaining in effect, would cause fifty percent (50%) or more of the Premises to be Transferred for more than fifty percent (50%) of the then remaining Lease Term (taking into account any extension of the Lease Term which has irrevocably exercised by Tenant), Tenant shall give Landlord notice (the “Intention to Transfer Notice”) of such contemplated Transfer (whether or not the contemplated Transferee or the terms of such contemplated Transfer have been determined). The Intention to Transfer Notice shall specify the portion of and amount of rentable square feet of the Premises which Tenant intends to Transfer in the subject Transfer (the “Contemplated Transfer Space”), the contemplated date of commencement of the Contemplated Transfer (the “Contemplated Effective Date”), and the contemplated length of the term of such contemplated Transfer. Thereafter, Landlord shall have the option, by giving written notice to Tenant within thirty (30) days after receipt of any Intention to Transfer Notice, to recapture the Contemplated Transfer Space. Such recapture shall cancel and terminate this Lease with respect to such Contemplated Transfer Space as of the Contemplated Effective Date. In the event of a recapture by Landlord, if this Lease shall be canceled with respect to less than the entire Premises, the Rent reserved herein shall be prorated on the basis of the number of rentable square feet retained by Tenant in proportion to the number of rentable square feet contained in the Premises, and this Lease as so amended shall continue thereafter in full force and effect, and upon request of either party, the parties shall execute written confirmation of the same. If Landlord declines, or fails to elect in a timely manner, to recapture such Contemplated Transfer Space under this Section 14.4, then, subject to the other terms of this Article 14, for a period of nine (9) months (the “Nine Month Period”) commencing on the last day of such thirty (30) day period, Landlord shall not have any right to recapture the Contemplated Transfer Space with respect to any Transfer made during the Nine Month Period, provided that any such Transfer is substantially on the terms set forth in the Intention to Transfer Notice, and provided further that any such Transfer shall be subject to the remaining terms of this Article 14. If such a Transfer is not so consummated within the Nine Month Period (or if a Transfer is so consummated, then upon the expiration of the term of any Transfer of such Contemplated Transfer Space consummated within such Nine Month Period), Tenant shall again be required to submit a new Intention to Transfer Notice to Landlord with respect any contemplated Transfer, as provided above in this Section 14.4. Tenant shall not be required to provide a separate Intention to Transfer Notice and Tenant’s request for Landlord’s consent to a Transfer shall satisfy Tenant’s obligations in this Section 14.4.

  • Licensor’s Option Licensor shall have the option, at Licensor’s sole discretion, to terminate this License at any time within three (3) years of the date of this Agreement upon written notice to Licensee. In the event that Licensor exercises this option, Licensor shall pay to Licensee a sum equal to Two Hundred Percent (200%) of the License Fee paid by Licensee. Upon Licensor’s exercise of the option, Licensee must immediately remove the New Song from any and all digital and physical distribution channels and must immediately cease access to any streams and/or downloads of the New Song by the general public.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!