Mutual Termination Right. Notwithstanding anything to the contrary contained in Section 14.1, if the Music Hall, the 1270 Space, the 50 Rock Space or the Retail Space is substantially damaged or is rendered wholly or substantially untenantable and an independent architect or engineer selected by Landlord shall determine, as evidenced by a written opinion which Landlord agrees shall be delivered to Tenant within 90 days after such damage (the “Restoration Opinion”), that the restoration of any of the same to substantially its condition prior to such damage shall require more than (a) with respect to the Music Hall, 36 months and (b) with respect to the Ancillary Space, 18 months, to complete (including the time necessary to obtain all necessary approvals from the Commission, Landlord hereby agreeing to diligently pursue the receipt of any such approvals and Tenant agreeing to cooperate in all reasonable respects in connection with such pursuit), Landlord or Tenant may, not later than 30 days following the date of receipt of the Restoration Opinion, (i) with respect to the 1270 Space, the 50 Rock Space or the Retail Space, give the other party a notice terminating the Lease with respect to the 1270 Space, the 50 Rock Space or the Retail Space, whichever of such space is substantially damaged or (ii) with respect to the Music Hall, give the other party a notice terminating the Lease. If this Lease (or any portion thereof) is terminated pursuant to this Section 14.2 or Section 14.3, (i) the Term (insofar as it relates to the portion of the Premises as to which the Lease is being terminated) shall expire upon the date set forth in the applicable notice of termination, which shall not be less than 30 days after such notice is given, and Tenant shall vacate the Premises (or the applicable portion thereof) and surrender the same to Landlord no later than the date set forth in the notice, (ii) Tenant’s liability for Rent with respect to the applicable portion of the Premises shall cease as of the date of the damage, (iii) any prepaid Rent with respect to the applicable portion of the Premises for any period after the date of the damage shall be refunded by Landlord to Tenant and (iv) an appropriate final reconciliation shall be made of Percentage Rent for the Computation Year in which such termination occurred within 30 days following such termination. Notwithstanding the foregoing, Landlord shall not exercise the termination right set forth in this Section 14.2 if, as part of Landlord’s re...
Mutual Termination Right. The Executive may terminate the ------------------------ Executive's employment hereunder, or the Company may terminate the Executives's employment hereunder, in the event of the failure of the Company to achieve the Cash Flow Target for 1998, subject to any Adjustments.
Mutual Termination Right. The Parties may terminate this ISH Unwind Agreement at any time by mutual written consent;
Mutual Termination Right. The Parties may terminate this Agreement at any time upon mutual written agreement of termination.
Mutual Termination Right. This Agreement may he terminated by either party under any of the following conditions:
(a) if one of the parties shall be declared insolvent or bankrupt;
(b) if a petition is filed in any court and not dismissed in ninety (90) days to declare one of the parties bankrupt or for a reorganization under the Bankruptcy Law or any similar statute;
(c) if a trustee in Bankruptcy or a receiver or similar entity is appointed for one of the parties;
Mutual Termination Right. If the entire Building, or such portion of the Premises or the common areas of the Building or the Property as to render the balance (if reconstructed to the maximum extent practicable in the circumstances) unsuitable for Tenant’s purposes, shall be taken by condemnation or right of eminent domain (a “Taking”), Landlord or Tenant shall have the right to terminate this Lease by notice to the other of its desire to do so, provided that such notice is given not later than thirty (30) days after Tenant has been deprived of possession. If either party shall give such notice, then this Lease shall terminate as of the date of such notice with the same force and effect as if such date were the date originally established as the expiration date hereof.
Mutual Termination Right. A Party may at any time, by no less than thirty (30) days’ notice in writing to the other Party, terminate this Agreement.
Mutual Termination Right. Notwithstanding anything to the contrary herein, in the event that the Company does not consummate an IPO on or before September 30, 2010, then either party shall have the right to terminate this Agreement by giving written notice to the other party on or before December 31, 2010. Any such termination under this Section 16 shall not trigger any rights to or eligibility for severance.
Mutual Termination Right. The Executive may terminate the Executive's employment hereunder, or the Company may terminate the Executive's employment hereunder, in the event of the failure of the Company to achieve the Cash Flow Target for 1998, subject to any Adjustments.
Mutual Termination Right. If an EPC Agreement is not executed within the time provided under Section 6.1(b) with respect to a Project Company, unless such time is extended by written agreement among each Party to this Agreement, either Buyer or Seller may, by written notice to the other Party, terminate this Agreement with respect to such Project Company, subject to the following:
(a) Seller shall pay Buyer the amount of Interconnection Reimbursement for such Project that was paid by Buyer to Seller on the Execution Date (and, with respect to the Gibbon Project, the $450,000 deposit previously paid by Buyer) plus interest on such amounts at a rate equal to 15% per annum calculated from the Execution Date until the date such amounts are paid to Buyer from Seller;
(b) Buyer shall transfer to Seller, or its Affiliate, 100% of the Membership Interests in the applicable Project Company free and clear of all Liens, except for Permitted Liens (and in connection with such transfer Buyer shall make reasonable representations (substantially similar to those made by Seller in Article IV) related to the Project Company and the quality of the Project Assets included in the Project being transferred); and
(c) if this Agreement is terminated (with respect to one or more Projects and Project Companies) pursuant to Section 8.2(a), this Agreement shall be null and void with respect to such Project and such Project Company and all obligations and liabilities of any Party hereunder with respect to the applicable Project Company and Project shall terminate, except the obligation of Seller pursuant to clause (a), in which case the Seller shall remain obligated to perform such payment obligation.
