Common use of Lessor's Overriding Right to Terminate Clause in Contracts

Lessor's Overriding Right to Terminate. Notwithstanding -------------- -------------------------------------- anything to the contrary herein, if the discounted present value of the rent due hereunder for the balance of the term, using as the discount rate the prime commercial lending rate in effect at the Bank of America as of the date Lessor is to commence repairs pursuant to Section 10.02 hereof, is less than the cost of repairing the damage to the Premises, Lessor may at its option terminate this lease upon thirty (30) days' written notice.

Appears in 2 contracts

Samples: Industrial Lease (Valicert Inc), Industrial Lease (Valicert Inc)

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Lessor's Overriding Right to Terminate. Notwithstanding -------------- -------------------------------------- anything to the contrary herein, if the discounted present value of the rent due hereunder for the balance of the termTerm, using as the discount rate the prime commercial lending rate in effect at the Bank of America as of the date Lessor is to commence repairs pursuant to Section 10.02 Paragraph 17.2 hereof, is less than the cost of repairing the damage to the Premises, Lessor may at its option terminate this lease Lease upon thirty (30) 10 days' written notice.

Appears in 1 contract

Samples: Right of First Refusal Agreement (Xoma Corp /De/)

Lessor's Overriding Right to Terminate. Notwithstanding -------------- -------------------------------------- anything to the contrary herein, if the discounted present value of the rent due hereunder for the balance of the termTerm, using as the discount rate the prime commercial lending rate in effect at the Bank of America as of the date Lessor is to commence repairs pursuant to Section 10.02 hereof, is less than the cost of repairing the damage to the Premises, Lessor may at its option terminate this lease upon thirty (30) days' written notice.Paragraph

Appears in 1 contract

Samples: Building E Lease (Xoma Corp /De/)

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Lessor's Overriding Right to Terminate. Notwithstanding -------------- -------------------------------------- anything to the contrary herein, if the discounted present value of the rent due hereunder for the balance of the term, using as the discount rate the prime commercial lending rate in effect at the Bank of America as of the date Lessor is to commence repairs pursuant to Section 10.02 hereof, is less than the cost of repairing the damage to the Premises, Lessor may at its option terminate this lease upon thirty (30) days' written notice.

Appears in 1 contract

Samples: Industrial Lease (NeoStem, Inc.)

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