Lessee’s Right Upon Termination. At the termination of this Lease and any subsequent renewals or extensions thereof and, provided Lessee is not in default, then Lessee shall:
(a) Return the Leased Premises to Lessor clear of all improvements except those improvements chosen by Lessee to remove, which may include buildings, improvements, foundations and footings which have been constructed by Lessee, its agents, employees, assigns or successors; provided, however, that Lessee shall have one hundred twenty (120) days after termination in which to remove all such improvements. In the event that demolition by Xxxxxx exceeds the one hundred twenty (120) day period, Lessee shall pay rent at the then current rate for any excess days, and
(b) Transfer title to the improvements not removed by Lessee to Lessor in lieu of removal of the said improvements and Xxxxxx hereby agrees to execute all appropriate documents to vest title to said improvements in Lessor free and clear of any and all liens and encumbrances.
Lessee’s Right Upon Termination. At the termination of this lease, LESSEE shall be entitled to elect one of the following options:
a. LESSEE shall return the leased premises to LESSOR clear of all or any specifically designated improvements above ground level which have been purchased or constructed by LESSEE, its agents, employees, assigns or successors; provided, however, that LESSEE shall have thirty (30) days after termination in which to remove all such improvements or those specifically designed by LESSOR. In the event that demolition by LESSEE exceeds the thirty (30) day period, LESSEE shall pay rent at the then current rate for any excess days, or
b. The LESSEE may negotiate the sale of the improvements existing on Airport property to the Airport or a third party. LESSOR maintains the right to approve such a sale and a new land lease, said approval not to be unreasonably withheld, or
c. The LESSEE may, with mutual consent of the LESSOR, transfer title of said improvement in lieu of removal of the said improvements of LESSEE'S and LESSEE hereby agrees to execute all appropriate documents to vest title of said improvements to LESSOR free and clear of any and all liens and encumbrances.
Lessee’s Right Upon Termination. At the termination of this Lease and any subsequent renewals or extensions, Lessee so long as it is not in default, shall be entitled to elect one of the following options:
(a) Lessee shall return the Leased Premises to Lessor clear of all or any specifically designated improvements to include foundations and footings which have been purchased or constructed by Lessee, its agents, employees, assigns or successors; provided, however, that Lessee shall have ninety (90) days after termination in which to remove all such improvements or those specifically designated by Lessor. In the event that demolition by Xxxxxx exceeds the ninety (90) day period, Lessee shall pay rent at the then current rate for any excess days, or
(b) The Lessee may negotiate the sale of the improvements existing on Airport property to the Lessor or a third party. Lessor shall have a thirty (30) day right of first refusal to purchase the improvements if such proposed sale is to a third party. Lessor maintains the right to approve such a sale and negotiate a new land lease, said approval not to be unreasonably withheld, or
(c) The Lessee may, with mutual written consent of the Lessor, transfer title to said improvement in lieu of removal of the said improvements of Xxxxxx’s and Xxxxxx hereby agrees to execute all appropriate documents to vest title to said improvements in Lessor free and clear of any and all liens and encumbrances.
SECTION 5. The Lessee may not sublet or assign all or any portion of the Premises without the prior written approval of the Lessor. In reviewing a request by the Lessee to sublet or assign all or any portion of the Leased Premises, the Lessor will consider, inter alia, the permitted and intended uses of the Leased Premises. If the Lessor approves the sublease or assignment of any portion of the Leased Premises, the Lessee shall remain liable for any and all obligations under this Lease, unless the Lessor determines in writing, on the basis of evidence presented, that the sub-lessee or assignee has the requisite financial capacity, resources and business plan to satisfy any and all obligations hereunder. The requirement to obtain Lessor’s approval applies, without limitation, to any assignment or sublease which would occur by operation of law; assignment or sublease to or by a trustee or receiver in any federal or state bankruptcy, receivership or other insolvency proceeding; and the sale, assignment or transfer of all or substantially all of Lessee’s assets. Un...
Lessee’s Right Upon Termination. At any termination or expiration of this Lease and any subsequent renewals or extensions:
(a) Lessee shall have one hundred twenty (120) days after termination or expiration of this Lease to remove any Improvements and personal property from the Leased Premises. Lessee shall return the Leased Premises to Lessor clear of all Improvements and personal property; however, at Xxxxxx's option, Lessee may leave those Improvements that are in reasonable useable condition and are confirmed to be structurally sound by a structural engineer, which may include buildings, improvements, foundations and footings which have been constructed by Lessee, its agents, employees, assigns or successors subject to the conditions set forth herein. Lessee shall have one hundred twenty (120) days after termination or expiration of this Lease in which to remove all Improvements that are not structurally sound. In the event that removal or demolition by Xxxxxx exceeds the one hundred twenty (120) day period, Lessee shall pay rent at the then current rate for any excess days, and
(b) Lessee shall transfer title to the Improvements not removed by Lessee to Lessor in lieu of removal of the said Improvements and Xxxxxx hereby agrees to execute all appropriate and reasonable documents to vest title to said Improvements in Lessor free and clear of any and all liens and encumbrances.
