Lessor's Option. At the option of the Lessor, which may be exercised at any time, the Lessee shall, upon written request of the Lessor, on the first day on the calendar month immediately following such request, and on the first day of each calendar month thereafter during the Term (each of which dates is referred to as a "Monthly Deposit Date"), pay to and deposit with the Lessor a sum equal to one-twelfth (1/12th) of the Impositions to be levied, charged, filed, assessed or imposed upon or against the Leased Property within one (1) year after said Monthly Deposit Date and a sum equal to one-twelfth (1/12th) of the premiums for the insurance policies required pursuant to Article 12 which are payable within one (1) year after said Monthly Deposit Date. If the amount of the Impositions to be levied, charged, assessed or imposed or insurance premiums to be paid within the ensuing one (1) year period shall not be fixed upon any Monthly Deposit Date, such amount for the purpose of computing the deposit to be made by the Lessee hereunder shall be estimated by the Lessor with an appropriate adjustment to be promptly made between the Lessor and the Lessee as soon as such amount becomes determinable. In addition, the Lessor may, at its option, from time to time require that any particular deposit be greater than one-twelfth (1/12th) of the estimated amount payable within one (1) year after said Monthly Deposit Date, if such additional deposit is required in order to provide to the Lessor a sufficient fund from which to make payment of all Impositions on or before the next due date of any installment thereof, or to make payment of any required insurance premiums not later than the due date thereof.
Lessor's Option. If the rents remain unpaid for twenty (20) days after the due date or if Lessee is in default of any of the terms or conditions stated herein, Lessor shall have the right to declare the Lease forfeited, and upon written notice, Lessor may re-enter and take possession of the Premises and remove all persons and property therefrom. Lessor, may at his option, re-let the Premises without prejudice to Xxxxxx's remedies for collection of rents, or damages incurred by Xxxxxx. It is understood and agreed that each and all of the remedies given Lessor under this Lease are cumulative and that the exercise of one right or remedy by Lessor shall not impair its right to any other remedy.
Lessor's Option. (See Addendum-Paragraph 36.) Upon reasonable advance notice and notwithstanding anything to the contrary contained herein and in addition to the rights provided Lessor in Paragraph 7.3, Lessor may at its option (but shall not be required to) enter upon the Premises at any time during the term hereof and perform any maintenance, repairs or alterations which Lessor is entitled to perform under the terms of the Lease, and Lessee shall pay Lessor Lessee's share of the cost of any such maintenance, repairs or alterations, as such share shall be equitably determined by Lessor, promptly upon Lessor's billing Lessee therefor. Lessor's reasonable determination thereof, in good faith, shall be conclusive. Lessor agrees to perform any such work in a manner which reasonably minimizes disruption to Lessee's business activities.
Lessor's Option. Within thirty (30) days after Xxxxxx's receipt of Xxxxxx's Request for Transfer, Lessor may, in its sole discretion, exercise any one of the options described below by providing written notice to Xxxxxx of Lessor's election. If for any reason, Lessor fails to give Xxxxxx written notice of Xxxxxx's election as authorized by this subparagraph 53.3 within the said thirty (30) day period, Lessor shall be deemed to have elected to consent to the Transfer. The options available to Lessor are as follows:
(a) Consent to the requested Transfer (subject in all circumstances to the provisions of subparagraph 55.5, whether or not so expressly stated in the Notice to Lessee setting forth such consent); or
(b) Withhold consent to the requested Transfer. If Lessor withholds consent, Lessor shall inform Xxxxxx of the reasons therefor.
Lessor's Option. The occurrence of any one or more of the following events shall constitute a material default and breach of this Lease by Xxxxxx:
(A) The vacating or abandonment of the Premises by Xxxxxx (which shall be conclusively presumed if Xxxxxx leaves the Premises closed or unoccupied continuously for thirty (30) days). The failure by Lessee to make any payment of rent or any other payment required to be made by as and when due and after ten days written notice to Lessee by Lessor to pay same. The failure by Xxxxxx to observe or perform any of the covenants, conditions, or provisions of this Lease to be observed or performed by Xxxxxx, other than described in subparagraph (A) and above, where such failure shall continue for a period of thirty (30) days after written notice thereof from Lessor to Lessee. In the event of any such material default or breach by Lessee, Lessor may at any time thereafter, with or without notice or demand and without limiting Lessor in the exercise of any right or remedy which Lessor may have by reason of such default or breach: Terminate Xxxxxx's right of possession of the Premises by any lawful means, in which case this Lease shall terminate and Xxxxxx shall immediately surrender possession of the Premises to Lessor. In such event, Lessor shall be entitled to recover from Lessee all damages incurred by Lessor by reason of Xxxxxx's default, including, but not limited to expenses of reletting, reasonable attorneys' and any real estate commission actually paid; the worth at the time of award by a court having jurisdiction of the unpaid rent which had been earned after termination until the time of such award exceeds the amount of such rental loss that the Lessee proves could have been reasonably avoided; the worth at the time of such award of the amount by which the unpaid rent for the balance of the term after the time of such award exceeds the amount of such rental loss that the Lessee proves could be reasonably avoided; and the portion of any real estate commission payable by Lessor applicable County As Lessee - 000 Xxxxx Xxxxxx, Xxxxx Xxxx
Lessor's Option. If Lessee is in default of any of the terms or conditions under this Lease, Lessor may demand performance in writing. If thirty (30) days elapse after such notice and no performance has occurred, then Lessor shall have the right to declare the Lease forfeited, and to re-let the Premises. It is understood and agreed that each and all of the remedies given Lessor under this Lease are cumulative and that the exercise of one right or remedy by Lessor shall not impair its right to any other remedy.
Lessor's Option. At the option of Lessor upon the occurrence of an event or circumstance which, with the giving of notice and/or the passage of time, would constitute a Lease Default, which may be exercised at any time thereafter, Lessee shall, upon written request of Lessor, on the first day on the calendar month immediately following such request, and on the first day of each calendar month thereafter during the Term (each 29
Lessor's Option. If the damage is not fully covered by Lessor’s insurance, or if Lessor determines in good faith that the cost of repairing the damage is more than one-third of the then replacement cost of the Building, or if Lessor has determined in good faith that the required repairs to the Building cannot be made within a ninety (90) day period, or in the event a holder of a mortgage or a deed of trust against the Building or the Premises requires that all or any portion of the insurance proceeds be applied in reduction of the mortgage debt, or if such damage occurs during the final year of the Lease Term, then Lessor may, by written notice to the other party within thirty (30) days after the occurrence of such damage, terminate this Lease as of the date set forth in Lessor’s notice to Lessee. Nothing in this Article 10(b) shall be construed as a limitation of Lessee’s liability for any such damage, should such liability otherwise exist.
Lessor's Option. In the event the subject property is sold the Lessor at his option may terminate this lease by giving ninety (90) days written notice (certified mail return receipt) to the Lessee. Any transfer or change of more than 49% of the Ownership of the 3467 Partnership shall be considered as a sale of subject property.
Lessor's Option. This Lease, at Lessor's option, shall be subordinate to any ground lease, mortgage, deed of trust, or any other hypothecation or security now or hereafter placed upon the real property of which the Premises are a part and to any and all advances made on the security thereof and to all renewals, modifications, consolidations, replacements and extensions thereof. Notwithstanding such subordination, Lessee's right to quiet possession of the Premises shall not be disturbed if Lessee is not in default and so long as Lessee shall pay the rent and observe and perform all of the provisions of this Lease. If any mortgagee, trustee or ground lessor shall elect to have this Lease prior to the lien of its mortgage, deed of trust or ground lease, and shall give written notice thereof to Lessee, this Lease shall be deemed prior is to such mortgage, deed of trust, or ground lease, whether this Lease is dated prior or subsequent to the date of said mortgage, deed of trust or ground lease, or the date of recording thereof.
