Common use of OPTION TO CANCEL Clause in Contracts

OPTION TO CANCEL. Lessee shall have the right to cancel this Lease causing same to become null and void and of no further force or effect under the following terms and conditions: 1. Lessee shall notify Lessor in writing, a minimum of one hundred and eighty days, prior to the effective date of the selected cancellation date of the Lease. 2. The selected cancellation date shall be between November 1, 2008 and October 31, 2009. 3. On or before the selected cancellation date the Lessee shall pay to the Lessor a cancellation fee equal to one half of the remaining sums due the Lessor as rent for the balance of the Lease contract. 4. The Lessee shall not be in default under any of the terms and conditions of this Lease. 5. The Lessee must also cancel all other Leases in the complex located on the Southwest corner of Paularino Avenue and Redhill Avenue in Costa Mesa, California that are owned by the Lessor on the same selected cancellation date per the terms of the cancellation clause contained in each Lease. Said Leases pertain to the following addresses: 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 02/04/05 06/01/05 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 01/05/05 01/15/05 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/05/86 09/01/86 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 03/23/86 05/01/84 10/31/10 0000-X Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 03/11/97 04/01/97 10/31/10 0000-X Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 02/04/05 06/01/05 10/31/10 0000 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 01/24/04 04/01/04 10/31/10 0000 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/06/01 08/15/01 10/31/10 0000-X Xxxxxxx Xxxxxx – Costa Mesa, CA 10/28/85 11/01/85 10/31/10 0000-X Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/28/85 11/01/85 10/31/10 Note: All of the above Leases are between Trico Rents, a California General Partnership as Lessor and Ceradyne Inc., a Delaware Corporation as Lessee.

OPTION TO CANCEL. Lessee shall have the right to cancel this Lease causing same to become null and void and of no further force or effect under the following terms and conditions: 1. Lessee shall notify Lessor in writing, a minimum of one hundred and eighty days, prior to the effective date of the selected cancellation date of the Lease. 2. The selected cancellation date shall be between November 1, 2008 and October 31, 2009. 3. On or before the selected cancellation date the Lessee shall pay to the Lessor a cancellation fee equal to one half of the remaining sums due the Lessor as rent for the balance of the Lease contract. 4. The Lessee shall not be in default under any of the terms and conditions of this Lease. 5. The Lessee must also cancel all other Leases in the complex located on the Southwest corner of Paularino Avenue and Redhill Avenue in Costa Mesa, California that are owned by the Lessor on the same selected cancellation date per the terms of the cancellation clause contained in each Lease. Said Leases pertain to the following addresses: 000 Xxxxxxxxx Xxxxxx – - Xxxxx Xxxx, XX 02/04/05 06/01/05 10/31/10 000 Xxxxxxxxx Xxxxxx – - Xxxxx Xxxx, XX 01/05/05 01/15/05 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/05/86 09/01/86 10/31/10 000 Xxxxxxxxx Xxxxxx – - Xxxxx Xxxx, XX 03/23/86 05/01/84 10/31/10 0000-X Xxxxxxxxx Xxxxxx – - Xxxxx Xxxx, XX 03/11/97 04/01/97 10/31/10 0000-X Xxxxxxx Xxxxxx – - Xxxxx Xxxx, XX 02/04/05 06/01/05 10/31/10 0000 Xxxxxxx Xxxxxx – - Xxxxx Xxxx, XX 01/24/04 04/01/04 10/31/10 0000 Xxxxxxx Xxxxxx – - Xxxxx Xxxx, XX 03/31/86 04/01/86 10/31/10 0000 Xxxxxxx Xxxxxx - Xxxxx Xxxx, XX 08/06/01 08/15/01 10/31/10 0000-X Xxxxxxx Xxxxxx – Costa Mesa- Xxxxx Xxxx, CA XX 10/28/85 11/01/85 10/31/10 0000-X Xxxxxxx Xxxxxx – - Xxxxx Xxxx, XX 08/28/85 11/01/85 10/31/10 Note: All of the above Leases are between Trico Rents, a California General Partnership as Lessor and Ceradyne Inc., a Delaware Corporation as Lessee.

OPTION TO CANCEL. Lessee shall have the right to cancel this Lease causing same to become null and void and of no further force or effect under the following terms and conditions: 1. Lessee shall notify Lessor in writing, a minimum of one hundred and eighty days, prior to the effective date of the selected cancellation date of the Lease. 2. The selected cancellation date shall be between November 1, 2008 and October 31, 2009.. LESSOR: /s/ TCH LESSEE: /s/ JJP DATE: 8/11/05 DATE: 8/2/05 Date: July 14, 2005 Extension: 1 3. On or before the selected cancellation date the Lessee shall pay to the Lessor a cancellation fee equal to one half of the remaining sums due the Lessor as rent for the balance of the Lease contract. 4. The Lessee shall not be in default under any of the terms and conditions of this Lease. 5. The Lessee must also cancel all other Leases in the complex located on the Southwest corner of Paularino Avenue and Redhill Avenue in Costa Mesa, California that are owned by the Lessor on the same selected cancellation date per the terms of the cancellation clause contained in each Lease. Said Leases pertain to the following addresses: 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 02/04/05 06/01/05 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 01/05/05 01/15/05 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/05/86 09/01/86 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 03/23/86 05/01/84 10/31/10 0000-X Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 03/11/97 04/01/97 10/31/10 0000-X Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 02/04/05 06/01/05 10/31/10 0000 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 01/24/04 04/01/04 10/31/10 0000 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 03/31/86 04/01/86 10/31/10 0000 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/06/01 08/15/01 10/31/10 0000-X Xxxxxxx Xxxxxx – Costa Mesa, CA 10/28/85 11/01/85 10/31/10 0000-X Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/28/85 11/01/85 10/31/10 Note: All of the above Leases are between Trico Rents, a California General Partnership as Lessor and Ceradyne Inc., a Delaware Corporation as Lessee.

OPTION TO CANCEL. Lessee shall have the right to cancel this Lease causing same to become null and void and of no further force or effect under the following terms and conditions: 1. Lessee shall notify Lessor in writing, a minimum of one hundred and eighty days, prior to the effective date of the selected cancellation date of the Lease. 2. The selected cancellation date shall be between November 1, 2008 and October 31, 2009. 3. On or before the selected cancellation date the Lessee shall pay to the Lessor a cancellation fee equal to one half of the remaining sums due the Lessor as rent for the balance of the Lease contract. 4. The Lessee shall not be in default under any of the terms and conditions of this Lease. 5. The Lessee must also cancel all other Leases in the complex located on the Southwest corner of Paularino Avenue and Redhill Avenue in Costa Mesa, California that are owned by the Lessor on the same selected cancellation date per the terms of the cancellation clause contained in each Leasedate. Said Leases pertain to the following addresses: 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 02/04/05 06/01/05 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 01/05/05 01/15/05 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/05/86 09/01/86 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 03/23/86 05/01/84 10/31/10 0000-X Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 03/11/97 04/01/97 10/31/10 0000-X Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 02/04/05 06/01/05 10/31/10 0000 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 01/24/04 04/01/04 10/31/10 0000 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/06/01 08/15/01 03/31/86 04/01/86 10/31/10 0000-X Xxxxxxx Xxxxxx – Costa MesaXxxxx Xxxx, CA XX 10/28/85 11/01/85 10/31/10 0000-X Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/28/85 11/01/85 10/31/10 Note: All of the above Leases are between Trico Rents, a California General Partnership as Lessor and Ceradyne Inc., a Delaware Corporation as Lessee.

OPTION TO CANCEL. Lessee shall have the right to cancel this Lease causing same to become null and void and of no further force or effect under the following terms and conditions: 1. Lessee shall notify Lessor in writing, a minimum of one hundred and eighty days, prior to the effective date of the selected cancellation date of the Lease. 2. The selected cancellation date shall be between November 1, 2008 and October 31, 2009. 3. On or before the selected cancellation date the Lessee shall pay to the Lessor a cancellation fee equal to one half of the remaining sums due the Lessor as rent for the balance of the Lease contract. 4. The Lessee shall not be in default under any of the terms and conditions of this Lease. 5. The Lessee must also cancel all other Leases in the complex located on the Southwest corner of Paularino Avenue and Redhill Avenue in Costa Mesa, California that are owned by the Lessor on the same selected cancellation date per the terms of the cancellation clause contained in each Lease. Said Leases pertain to the following addresses: 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 02/04/05 06/01/05 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 01/05/05 01/15/05 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/05/86 09/01/86 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 03/23/86 05/01/84 10/31/10 0000-X Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 03/11/97 04/01/97 10/31/10 0000-X Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 02/04/05 06/01/05 10/31/10 0000 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 01/24/04 04/01/04 10/31/10 0000 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 03/31/86 04/01/86 10/31/10 0000 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/06/01 08/15/01 10/31/10 0000-X Xxxxxxx Xxxxxx – Costa Mesa, CA 10/28/85 11/01/85 10/31/10 0000-X Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/28/85 11/01/85 10/31/10 Note: All of the above Leases are between Trico Rents, a California General Partnership as Lessor and Ceradyne Inc., a Delaware Corporation as Lessee.

OPTION TO CANCEL. Lessee shall have the right to cancel this Lease causing same to become null and void and of no further force or effect under the following terms and conditions: 1. Lessee shall notify Lessor in writing, a minimum of one hundred and eighty days, prior to the effective date of the selected cancellation date of the Lease. 2. The selected cancellation date shall be between November 1, 2008 and October 31, 2009. 3. On or before the selected cancellation date the Lessee shall pay to the Lessor a cancellation fee equal to one half of the remaining sums due the Lessor as rent for the balance of the Lease contract. 4. The Lessee shall not be in default under any of the terms and conditions of this Lease. 5. The Lessee must also cancel all other Leases in the complex located on the Southwest corner of Paularino Avenue and Redhill Avenue in Costa Mesa, California that are owned by the Lessor on the same selected cancellation date per the terms of the cancellation clause contained in each Lease. Said Leases pertain to the following addresses: 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 02/04/05 06/01/05 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 01/05/05 01/15/05 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/05/86 09/01/86 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 03/23/86 05/01/84 10/31/10 0000-X Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 03/11/97 04/01/97 10/31/10 0000-X Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 02/04/05 06/01/05 10/31/10 0000 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 01/24/04 04/01/04 10/31/10 0000 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 03/31/86 04/01/86 10/31/10 0000 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/06/01 08/15/01 10/31/10 0000-X Xxxxxxx Xxxxxx – Costa Mesa, CA 10/28/85 11/01/85 10/31/10 0000-X Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/28/85 11/01/85 10/31/10 Note: All of the above Leases are between Trico Rents, a California General Partnership as Lessor and Ceradyne Inc., a Delaware Corporation as Lessee.

OPTION TO CANCEL. Lessee shall have the right to cancel this Lease causing same to become null and void and of no further force or effect under the following terms and conditions: 1. Lessee shall notify Lessor in writing, a minimum of one hundred and eighty days, prior to the effective date of the selected cancellation date of the Lease. 2. The selected cancellation date shall be between November 1, 2008 and October 31, 2009. 3. On or before the selected cancellation date the Lessee shall pay to the Lessor a cancellation fee equal to one half of the remaining sums due the Lessor as rent for the balance of the Lease contract. 4. The Lessee shall not be in default under any of the terms and conditions of this Lease. 5. The Lessee must also cancel all other Leases in the complex located on the Southwest corner of Paularino Avenue and Redhill Avenue in Costa Mesa, California that are owned by the Lessor on the same selected cancellation date per the terms of the cancellation clause contained in each LeaseLease . Said Leases pertain to the following addresses: 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 02/04/05 06/01/05 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 01/05/05 01/15/05 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/05/86 09/01/86 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 03/23/86 05/01/84 10/31/10 0000-X Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 03/11/97 04/01/97 10/31/10 0000-X 0 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 02/04/05 06/01/05 10/31/10 0000 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 01/24/04 04/01/04 10/31/10 0000 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/06/01 08/15/01 03/31/86 04/01/86 10/31/10 0000-X 0000 Xxxxxxx Xxxxxx – Costa MesaXxxxx Xxxx, CA 10/28/85 11/01/85 XX 08/06/01 08/15/01 10/31/10 0000-X Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/28/85 11/01/85 10/31/10 Note: All of the above Leases are between Trico Rents, a California General Partnership as Lessor and Ceradyne Inc., a Delaware Corporation as Lessee.

OPTION TO CANCEL. Lessee shall have the right to cancel this Lease causing same to become null and void and of no further force or effect under the following terms and conditions: 1. Lessee shall notify Lessor in writing, a minimum of one hundred and eighty days, prior to the effective date of the selected cancellation date of the Lease. 2. The selected cancellation date shall be between November 1, 2008 and October 31, 2009. 3. On or before the selected cancellation date the Lessee shall pay to the Lessor a cancellation fee equal to one half of the remaining sums due the Lessor as rent for the balance of the Lease contract. 4. The Lessee shall not be in default under any of the terms and conditions of this Lease. 5. The Lessee must also cancel all other Leases in the complex located on the Southwest corner of Paularino Avenue and Redhill Avenue in Costa Mesa, California that are owned by the Lessor on the same selected cancellation date per the terms of the cancellation clause contained in each Lease. Said Leases pertain to the following addresses: 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 02/04/05 06/01/05 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 01/05/05 01/15/05 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/05/86 09/01/86 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 03/23/86 05/01/84 10/31/10 0000-X Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 03/11/97 04/01/97 10/31/10 0000-X Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 02/04/05 06/01/05 10/31/10 0000 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 01/24/04 04/01/04 03/31/86 04/01/86 10/31/10 0000 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/06/01 08/15/01 10/31/10 0000-X Xxxxxxx Xxxxxx – Costa Mesa, CA 10/28/85 11/01/85 10/31/10 0000-X Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/28/85 11/01/85 10/31/10 Note: All of the above Leases are between Trico Rents, a California General Partnership as Lessor and Ceradyne Inc., a Delaware Corporation as Lessee.

OPTION TO CANCEL. Lessee shall have the right to cancel this Lease causing same to become null and void and of no further force or effect under the following terms and conditions: 1. Lessee shall notify Lessor in writing, a minimum of one hundred and eighty days, prior to the effective date of the selected cancellation date of the Lease. 2. The selected cancellation date shall be between November 1, 2008 and October 31, 2009. 3. On or before the selected cancellation date the Lessee shall pay to the Lessor a cancellation fee equal to one half of the remaining sums due the Lessor as rent for the balance of the Lease contract. 4. The Lessee shall not be in default under any of the terms and conditions of this Lease. 5. The Lessee must also cancel all other Leases in the complex located on the Southwest corner of Paularino Avenue and Redhill Avenue in Costa Mesa, California that are owned by the Lessor on the same selected cancellation date per the terms of the cancellation clause contained in each Lease. Said Leases pertain to the following addresses: 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 02/04/05 02/01/05 06/01/05 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 01/05/05 01/15/05 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/05/86 09/01/86 10/31/10 000 Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 03/23/86 05/01/84 10/31/10 0000-X Xxxxxxxxx Xxxxxx – Xxxxx Xxxx, XX 03/11/97 04/01/97 10/31/10 0000-X Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 02/04/05 06/01/05 10/31/10 0000 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 01/24/04 01/24/01 04/01/04 10/31/10 0000 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 03/31/86 04/01/86 10/31/10 0000 Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/06/01 08/15/01 10/31/10 0000-X Xxxxxxx Xxxxxx – Costa Mesa, CA 10/28/85 11/01/85 10/31/10 0000-X Xxxxxxx Xxxxxx – Xxxxx Xxxx, XX 08/28/85 11/01/85 10/31/10 Note: All of the above Leases are between Trico Rents, a California General Partnership as Lessor and Ceradyne Inc., a Delaware Corporation as Lessee.