Lessor's Option to Terminate. (a) In the event Lessor enters into a bona fide contract to sell the Leased Property to a non-Affiliate other than Lessee or an Affiliate of Lessee, Lessor may terminate the Lease by giving not less than 60-days prior Notice to Lessee of Lessor's election to terminate the Lease upon the closing under such contract. Effective upon such date, this Lease shall terminate and be of no further force and effect except as to any obligations of the parties existing as of such date that survive termination of this Lease and all Rent including Percentage Rent and Additional Charges shall be adjusted as of the termination date.
Lessor's Option to Terminate. A. In the event Lessor requires the Premises in connection with future expansion and/or operation of the Airport prior to the expiration or termination of this Lease, Lessor may, upon ninety (90) days written notice, cancel this Lease.
Lessor's Option to Terminate. Lease with Respect to Hotel upon Sale of a Facility. In the event Lessor enters into a bona fide contract to sell any Facility, Lessor may terminate this Lease with respect to each such Facility by giving not less than thirty (30) days prior Notice to Lessee of Lessor's election to terminate this Lease with respect to each such Facility effective upon the closing under such contract. In the event a closing under such contract does not occur, this Lease shall continue to be in full force and effect as to each such Facility. Effective upon such closing, this Lease shall terminate and be of no further force and effect as to any obligations of the parties existing as of such date relating to each such Facility. As compensation for the early termination of its leasehold estate under this Article XXXVI, Lessor shall, within ninety (90) days of such closing, pay to Lessee the Fair Market Value of the Leasehold Estate.
Lessor's Option to Terminate. At any time during the Listing Period and at NO cost, the Lessor may request that Listing Broker’s right to list the Property be terminated. To be valid, such requests must be submitted to Listing Broker via fax or email. Once validly requested, such termination shall be effective within 48 hours of receipt.
Lessor's Option to Terminate. Lessee hereby grants Lessor the option to terminate this Agreement for any reason on twenty-four (24) hours notice, either by mail, personal notice, telephone or telegram. Upon the exercise of such option, the Lessee shall forthwith return to Lessor’s premises at Lessee’s risk and expense, the rental equipment covered herein in the same condition as it was when first delivered to Lessee.
Lessor's Option to Terminate. Notwithstanding the provisions of this Section 16 to the contrary, Lessor shall have the right to terminate this Lease upon the occurrence of any of the following events: The Premises are declared unsafe or unfit for occupancy by any governmental authority and repairs are thereby required in excess of $500,000, and Lessor and Lessee cannot reach agreement as to the payment and/or amortization of such costs necessary to make such repairs; Such destruction occurs during the last two (2) years of the Term, Lessor's estimated time to complete the repairs is more than ninety (90) days to complete the repairs, and Lessee has not exercised the Purchase Option; Lessor's reasonable estimated time to complete the repairs is more than two hundred forty (240) days. Lessor is required to pay all or a substantial portion of insurance proceeds under the Premises Insurance to Lessor's lender; Insurance proceeds adequate to repair the Facility are not available to Lessor for any reason other than Lessor's failure to maintain insurance in amounts and types as required by Section 13.1.1 above; or To the extent the consent of Lessor's lender is required for restoration of the Facility, Lessor's lender is not willing to grant such consent. Portions to be Rebuilt by Lessor and Lessee. Lessor's obligation to rebuild (should Lessor elect or be obligated to repair or rebuild) will be limited to completing those items included in Lessor’s Work, as originally provided to Lessee on the Commencement Date, and only to the extent that insurance proceeds are available to Lessor to rebuild. All insurance proceeds available as a result of any casualty, including any proceeds payable under the Premises Insurance or any other property insurance covering the Premises maintained by Lessor under Section 13 of this Lease, will be payable solely to Lessor, and Lessee will have no interest in such proceeds. Unless this Lease is terminated by Lessor, Lessee shall replace all personal property and trade fixtures placed in the Premises by Lessee in a manner and in at least a condition equal to that existing prior to the destruction or casualty and the proceeds of all insurance carried by Lessee on its property and fixtures shall be held in trust by Lessee for the purpose of said repair and replacement.
Lessor's Option to Terminate. Notwithstanding any other provision in this Lease regarding default or termination, should Lessee attempt to make or suffer to be made any such encumbrance, assignment, sublease, or transfer in violation of this Section, or should any right or interest of Lessee hereunder or in or to the Premises be transferred or sold by or under court order or legal process, or otherwise, then any of the foregoing events will be deemed a breach of this Lease and thereupon Lessor may, at its option, terminate this Lease immediately by written notice to Lessee, or exercise other rights provided by law or in this Lease to be exercisable by Lessor in the event of any default or breach under this Lease. Should both Lessor and Master Lessor consent to any such encumbrance, assignment, sublease, or transfer, such consent will not constitute a waiver of any of the restrictions of this Section, and the same will apply to each and every encumbrance, assignment, sublease, or transfer hereunder and shall be severally binding upon each and every encumbrancer, assignee, sublessee, transferee, and other successor in interest of Lessee.
Lessor's Option to Terminate. In the event of a default of Lessee, Lessor shall have the right, at its election, then or thereafter while any such event of default shall continue and notwithstanding the fact that Lessor may have some other remedy hereunder or at law or in equity, to give Lessee written notice of Lessor's intention to terminate the term of this Lease on a date specified in such notice, which shall be not less than thirty (30) days after the giving of such notice, and upon the date so specified, the term of this Lease and the estate hereby granted shall expire and terminate and all rights of Lessee hereunder shall expire and terminate. In lieu of terminating this Lease, Lessor may elect to continue this Lease, in which event Lessor shall have the immediate right of re-entry and possession of the Demised Premises and the right to remove all persons and property therefrom. Should Lessor elect to re-enter as herein provided or should Lessor take possession pursuant to legal proceedings or pursuant to any notice provided for by law, Lessor may from time to time re-let the Demised Premises or any part thereof for such term or terms and at such rental or rentals and Big 5, Fontana, CA 2-12-96 (8) upon such terms and conditions as Lessor may deem advisable, with the right to make repairs and alterations to the Demised Premises.
Lessor's Option to Terminate. (a) In the event the Lessee is unable to obtain at least a 90% yield penetration (as determined on a 12 month trailing basis), based upon the region's STAR reports, the Lessor may terminate the Lease by giving not less than 60-days prior Notice to Lessee of Lessor's election to terminate the Lease; provided, however, that Lessor shall have no right to terminate if Lessee's -------- ------- failure to achieve a 90% yield penetration is the result of an Unavoidable Delay, casualty, damage or condemnation. Effective upon such date, this Lease shall terminate and be of no further force and effect except as to any obligations of the parties existing as of such date that survive termination of this Lease and all Rent including Percentage Rent and Additional Charges shall be adjusted as of the termination date.
Lessor's Option to Terminate. 20.1 Lessee agrees that neither this Lease Agreement nor any Leasing Schedule, nor any interest therein or in any Equipment, shall be assignable or transferable by operation of law and it is agreed and covenanted by and between the parties hereto that if any Event of Default shall occur or happen, then this Lease Agreement and any and all Leasing Schedules shall, at the option of the Lessor to be exercised by notice hereunder, immediately end and terminate and ® Registered trademark of Royal Bank of Canada Page 3 of 5 neither this Lease Agreement nor any Leasing Schedule or any interest therein shall be an asset of Lessee after the exercise of that option; provided that no such termination shall terminate or affect any right or remedy which shall have arisen under the Lease prior to such termination.
