Lessor's Election. In the event that the Complex or Building in which the Leased Premises are situated be destroyed to the extent of not less than thirty-three and one-third percent (33-1/3%) of the replacement cost thereof, Lessor may elect to terminate this Lease, whether the Leased Premises be injured or not, in the same manner as in Section 23.1 above. At all events, a total destruction of the Complex of which the Leased Premises form a part, or the Leased Premises itself, shall terminate this Lease.
Lessor's Election. Upon each occurrence of an Event of Default and so long as such Event of Default shall be continuing, Lessor may at any time thereafter, at its election by written notice to Lessee: (i) terminate this Lease or Xxxxxx’s right of possession, but Xxxxxx shall remain liable as hereinafter provided; and/or (ii) pursue any remedies provided for under this Lease or at law or in equity. Upon the termination of this Lease or termination of Xxxxxx’s right of possession, it shall be lawful for Lessor, without formal demand or notice of any kind, to re-enter the Demised Premises by summary dispossession proceedings or any other action or proceeding authorized by law and to remove Lessee and all persons and property therefrom. If Lessor re-enters the Demised Premises, Lessor shall have the right to keep in place CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY “[***]”, HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL. and use, or remove and store all of the fixtures, equipment and other property of Xxxxxx left at the Demised Premises or elsewhere at the Property. If Lessor elects not to terminate this Lease, but terminates Lessee’s right of possession, Lessor may recover from Lessee the sum of: i) all Minimum Rent, Additional Rent and all other amounts accrued hereunder to the date of such termination of possession; plus ii) the costs set forth in Section 10.3 below; plus iii) an amount equal to (A) the Minimum Rent and Additional Rent which would have been payable by Lessee under this Lease had Xxxxxx’s right to possession under this Lease not been so terminated for the period commencing after said termination of possession and ending on the last day of the Term with such amounts becoming due and payable by Lessee on such dates as Minimum Rent would otherwise become due and payable hereunder, less (B) the fair market rents that would have been received during such period and the net rents received by Lessor from re-letting the Demised Premises (or any portion(s) thereof) for the period commencing after said termination of possession and ending on the last day of the Term, such net rents to be determined by first deducting from the gross rents received by Lessor from such re-letting the expenses incurred or paid by Lessor in connection with said termination and in re-entering the Demised Premises and in securing possession thereof, as well as the actual and reasonable e...
Lessor's Election. NOT TO RESTORE OR FAILURE TO GIVE NOTICE If Lessor notifies Lessee within the Notice Period that Lessor elects not to repair or restore the Subleased Premises, or if Lessor fails or neglects to notify Lessee within the Notice Period that Lessor plans to repair and restore the Subleased Premises, then, in either case, Lessee may, at its option, within 30 DAYS after the expiration of the Notice Period, terminate this Sublease and surrender the Subleased Premises to Lessor. Unless so terminated, this Sublease shall remain in full force and effect for the remainder of the Term as to the usable portion of the Subleased Premises.
Lessor's Election. In the event that the Complex or Building in which the Leased Premises are situated be destroyed to the extent of not less than (i) thirty-three and one-third percent (33-1/3%) of the replacement cost thereof in the event of an insured property loss, or (ii) more than Five Hundred Thousand Dollars ($500,000) in replacement construction costs in the case of an Uninsured Property Loss, Lessor may elect to terminate this Lease, whether the Leased Premises be injured or not, in the same manner as in Section 23.1 above. At all events, a total destruction of the Complex of which the Leased Premises form a part, or the Leased Premises itself, shall terminate this Lease.
Lessor's Election. If Lessee fails to meet any obligation set forth in this Paragraph 7 or if Lessor determines in its reasonable discretion that the Premises is not being maintained as required hereunder, Lessor may undertake any obligation of Lessee (subject to any applicable notice and cure periods set forth in Paragraph 13.1), in which event Lessee shall reimburse Lessor for all of its costs. In addition, if Lessor undertakes, as a single project, maintenance and/or repair obligations of both Lessee and Lessor, Lessor shall be entitled to recover from Lessee, as additional Rent, the costs incurred by Lessor in connection with such maintenance and/or repairs undertaken on behalf of Lessee.”
Lessor's Election. Not less than twelve months prior to the end of the original Term or any renewal Term, Lessor shall send written notice to Lessee stating either (i) Lessor intends to sell the Aircraft at the end of such Term, or (ii) Lessor intends to retain ownership of the Aircraft at the end of such Term. Not less than nine months prior to the end of such Term, Lessor shall, by irrevocable written notice to Lessee, inform Lessee of Lessor's decision to sell or retain the Aircraft. Upon receipt of such notice, Lessee may elect, upon written notice, to (a) purchase the Aircraft pursuant to the terms of Section 21.03 if Lessor has elected to sell the Aircraft or (b) to renew this Lease for a renewal Term pursuant to the terms of Section 21.02 if Lessor has elected to retain ownership of the Aircraft provided, however, if Lessee so elects to renew or purchase its rights to either thereof shall expire at the close of business on the date which is six months prior to the expiration of the original Term or renewal Term, as the case may be, unless Lessee and Lessor shall have theretofore entered into a definitive agreement for such lease or sale (it being agreed that Lessor and Lessee shall negotiate such agreement in good faith). If Lessee makes no such election, Lessee shall return the Aircraft to Lessor at the end of the original Term or such renewal Term, as the case may be, as provided herein.
Lessor's Election. Lessee's request for consent to any transfer described in Paragraph 12.1 above shall be accompanied by a written statement setting forth the details of the proposed transfer, including the name, business and financial condition of the prospective transferee, financial details of the proposed transfer (e.g., the term of and rent and security deposit payable under any assignment or sublease, and any other information Lessor deems
Lessor's Election. Notwithstanding the foregoing, Lessor may elect, upon written notice to Lessee, to undertake any obligation of Lessee set forth in this Paragraph 7.1, in which event Lessee shall reimburse Lessor within forty-five (45) days of receipt of notice that Lessor has paid for such work; provided, however, that in the case of reimbursement of service contract costs, Lessor may invoice Lessee monthly to be paid with Base Rent and other charges hereunder. If Lessee fails to meet any obligation set forth in this Paragraph 7, or if Lessor determines in its reasonable discretion that the Premises are not being maintained as required hereunder, Lessor may undertake any obligation of Lessee (subject to any applicable notice and cure periods set forth in Paragraph 13.1), in which event Lessee shall reimburse Lessor for all of its costs. In addition, if Lessor undertakes, as a single project, maintenance and/or repair obligations of both Lessee and Lessor, Lessor shall be entitled to recover from Lessee, as additional Rent, the costs incurred by Lessor in connection with such maintenance and/or repairs undertaken on behalf of Lessee.
Lessor's Election. Lessee represents that it has paid all California sales tax due on the cost of that portion of the Equipment to be installed in California and agrees to provide evidence of such payment to, Lessor. As a result of the election, Lessxx xxxees that it will not invoice Lessxx xxx use tax on the monthly rental payments for the Equipment. Lessxx xxxerstands that this is an irrevocable election to measure the tax by the Equipment cost and cannot be changed except prior to installation of the Equipment.
Lessor's Election. Notwithstanding the foregoing, if Lessee shall fail to meet any obligation set forth in this Paragraph 7.1, or if Lessor determines in its reasonable discretion that the Premises (or the Lessor’s Property, Utility Installations or Alterations) are not being maintained as required hereunder, Lessor shall notify Lessee in writing and Lessee shall have ten (10) business days to remedy the same (except in the case where such failure causes an emergency, in which case there shall be no notice and cure period). If Lessee fails to do so in such ten (10) business day period (or immediately in the case such failure causes an emergency), then Lessor may elect to undertake to perform the obligation of Lessee, in which event Lessee shall reimburse Lessor within ten (10) business days of receipt of notice that Lessor has paid for such work and all of Lessor’s costs. Notwithstanding the foregoing, if the repair to be performed by Lessee cannot reasonably be completed within ten (10) business days after Lessor’s notice to Lessee, Lessor shall not exercise its right under this Paragraph 7.1(b) to make such repair on Lessee’s behalf so long as Lessor commences such repair within ten (10) business days after notice from Lessor and is diligently pursuing the same to completion.
