Lessor's Right to Terminate. The Lessor shall have the right to terminate this Agreement upon thirty (30) days prior written notice to the Lessee. If the Lessee fails to comply with any provision of this Agreement, the Borough may demand possession of the slip and the annual rent shall not be returned to Lessee.
Lessor's Right to Terminate. Lessee warrants and represents that it will use Premises in full compliance with state and local law. However, if at any time during the term of this Lease, Lessor receives written notice from a government official relating to any of the following “Early Termination Events”, due to Lessee’s presence in the Leased Premises: • Federal criminal prosecution for conspiracy to sell, produce, or transport an illegal drug or an impending federal RICO action; • Seizure of property under federal laws providing for forfeiture of assets by those involved in drug trafficking; • A substantiated “nuisance” claim for the smoke, odors, loiterers, or other marijuana related nuisance because of the Lessee’s Use. Enclosed: Exhibit A - Floor Plan Exhibit B - Legal Description Exhibit C – Holliston Tax Xxxx Exhibit D - Fair Market Value Exhibit E - Lessee Finish Work: Lessor Builds to Plans Within a reasonable time after Lessor’s receipt of Lessee’s written notice of exercise of Lessee’s option to extend (which notice to extend must be received by Lessor prior to the deadline for same set forth herein), Lessor shall send written notice to Lessee of Lessor’s determination of the fair market rent during the option period. In the event Lessee does not accept Lessor’s determination of fair market rent, then Lessee shall deliver written notice of objection to Lessor within ten (10) days of Lessee’s receipt of Lessor’s notice of determination (the “Objection Period”). The failure of Lessee to deliver such written notice of objection to Lessor during the Objection Period shall be deemed acceptance by Lessee of Lessor’s determination of fair market rent. If the parties cannot agree within ten (10) days of Lessee’s written notice of objection (the “Negotiation Period”) on the fair market rental to be paid by the Lessee during any option period, the same shall be determined as follows:
(a) The Lessor and Lessee shall each select a MAIA certified real estate appraiser or reputable commercial real estate broker with at least five (5) years experience in the Holliston/Hopkinton area real estate market to determine said fair market rental, within twenty (20) days of the Negotiation Period. The fair market rental agreed upon by said appraisers/brokers shall be the Rent to be paid by Lessee and accepted by Lessor during such option period.
(b) In the event the aforesaid appraisers/brokers cannot agree on the fair market rental by said 20th day, they shall immediately appoint a third, and the d...
Lessor's Right to Terminate. Notwithstanding any contrary provision of this Article VIII, the Lessor has the option to terminate this Agreement and be relieved of the obligation to restore the Premises where all or substantially all of the Premises are substantially damaged or destroyed and such damage or destruction resulted from a cause not insured against by Sublessee and/or the Lessor nor required to be insured against by Sublessee and/or the Lessor under this Agreement.
Lessor's Right to Terminate. (a) The Lessor shall have the right, upon written notice to the Lessee, to terminate this Lease with respect to all Property under this Lease as of the date stipulated in such notice if, at any time, the Credit Agreement expires at the end of its term, or the Credit Agreement is terminated by any Assignee as a result of the introduction of, or any change in, any applicable law, rule or regulation or in the interpretation or administration thereof by any Governmental Authority which shall make it unlawful for the Lessor to borrow funds under such Credit Agreement, and the Lessor cannot arrange for bank borrowings to refinance its obligations hereunder with respect to all Property under this Lease upon terms reasonably acceptable to the Lessor.
(b) In the event of a termination with respect to all Property pursuant to paragraph (a) of this Section 14, the Lessee shall be required, at its option, either (i) to arrange for such Property to be sold in accordance with the terms, and subject to satisfying the conditions for the use, of Section 12 above and with the consequences therein provided, except that such sale must occur on the Basic Rent Payment Date stipulated in the written notice contemplated in paragraph (a) of this Section 14, or (ii) to purchase, on the Basic Rent Payment Date stipulated in the written notice contemplated by paragraph (a) of this Section 14, such Property for cash at the Termination Value. In connection with, and as a condition to any purchase or sale under this paragraph, on the Basic Rent Payment Date upon which such purchase or sale occurs, the Lessee shall pay to the Lessor, in addition to any purchase price payable, all other amounts owing hereunder as of the date of such purchase or sale, including, without limitation (and without duplication), (i) all Basic Rent payable and accrued through the date of purchase, (ii) any Additional Rent owing, (iii) all amounts payable pursuant to Sections 11, 25 and 27 hereof, (iv) all losses, damages, costs and expenses (including, without limitation, attorney's fees and expenses, commissions, filing fees and sales or transfer taxes) sustained by the Lessor by reason of such purchase, and (v) all other amounts owing by Lessee hereunder or under any Related Documents.
(c) If (i) as a result of the requirements of subsection (a) above with respect to it becoming unlawful for the Lessor to borrow funds under the Credit Agreement, then the Lessee shall be entitled to designate a replacement to s...
Lessor's Right to Terminate. In the event of a Default by Lessee, Lessor shall have, in addition to any other remedies now or later available to Lessor hereunder or at law or equity, the right to terminate this Lease and Lessee's right to possession of the Premises by giving written notice of termination to Lessee, and Lessee shall in such event:
(a) pay to Lessor any accrued and unpaid Rent earned to the date of termination;
(b) pay to Lessor an amount equal to [***]; and
(c) undertake and complete within not more than [***] following such termination the Removal and Remediation Obligations. [***] Confidential portions of this document have been redacted and filed separately with the Commission.
Lessor's Right to Terminate. In the event of a Default by LESSEE, LESSOR shall have, in addition to any other remedies now or later available to LESSOR at law or equity, the right to terminate this Lease and LESSEE’s right to possession of the Premises by giving written notice of termination to LESSEE and to recover from LESSEE:
(a) the worth at the time of award (computed by including interest at the rate specified elsewhere in this Lease for arrearages) of the unpaid Base Rent and Additional Rent required to be paid by LESSEE under this Lease that had been earned at the time of termination;
(b) the worth at the time of award (computed by including interest at the rate specified elsewhere in this Lease for arrearages) of the amount by which the unpaid Rent and Additional Rent required to be paid by LESSEE under this Lease that would have been earned after termination until the time of award exceeds the amount of such rental loss that LESSEE proves could have been reasonably avoided;
(c) the worth at the time of award (computed by discounting at the discount rate of the Federal Reserve Bank of New York City at the time of award plus one percent (1%)) of the amount by which the unpaid Rent and Additional Rent required to be paid by LESSEE under this Lease for the balance of the Term after the time of award exceeds the amount of such rental loss that LESSEE proves could be reasonably avoided; and
(d) any and all other amounts necessary to compensate LESSOR for detriment proximately caused by the Default by LESSEE or which in the ordinary course of events would be likely to result therefrom.
Lessor's Right to Terminate. Without limiting the rights of Lessor in the event of a default by Lessee, Lessor shall at any time prior to acceptance of any Equipment have the right to terminate this Lease with respect to such Equipment if (a) there shall be an adverse change in Lessee's or any Guarantor's financial position or credit standing, or (b) Lessor otherwise in good xxxxx xxxxx itself insecure, or (c) such Equipment is not for any reason delivered to Lessee within 90 days or accepted by Lessee within 30 days after any estimated delivery date thereof specified in the Schedule describing such Equipment, or (d) Lessee rejects any Equipment in accordance with Paragraph 6 hereof. Upon any termination by Lessor pursuant to this Paragraph, Lessee shall forthwith reimburse to Lessor all sums paid by Lessor with respect to such Equipment and pay to Lessor all other sums then due hereunder; whereupon, if Lessee is not then in default and has then fully performed all of its obligations hereunder, Lessor will, upon request of Lessee, transfer to Lessee without warranty or recourse any rights that Lessor may then have with respect to such Equipment.
Lessor's Right to Terminate. If an Event of Default occurs the Lessor may terminate this Lease by:
(a) re-entering the Premises without notice; or
(b) notice to the Lessee, except that if section 81(1) of the Property Law Xxx 0000 applies, the Lessor’s right to terminate only arises after the Lessor has given a notice which complies with that section and the Lessee has failed to comply with that notice.
Lessor's Right to Terminate. If, at any time during the term of this Lease (as extended, if applicable), the Lessor enters into a bona fide contract to sell the demised premises to a third party, then the Lessor shall have the option to terminate this Lease by giving at least sixty (60) days prior written notice to the Lessee by registered or certified mail, addressed to the demised premises. Immediately upon receipt of said notice, the Lessee shall begin the process of vacating the demised premises. If the Lessee decides to relocate its business to another location and such relocation cannot be accomplished within said sixty (60) day period, then the Lessor grants the Lessee an additional thirty (30) days in which to vacate the demised premises provided the Lessee is diligently pursuing relocation. After receipt of the notice herein provided, the parties agree that the fixed monthly Lease payments shall permanently; provided, however, that the Lessee shall still be responsible for the payment of all utilities and to otherwise keep the premises fully insured as hereinafter provided.
Lessor's Right to Terminate. Lessor shall have the right to terminate this Lease, pursuant to the following:
12.2.1 In the event of a default by Lessee, Lessor may, at its option, declare this Lease to be terminated, and upon such termination, Lessor shall give notice of termination to Lessee, which shall become effective immediately upon the giving of such notice.
