Common use of Option to Terminate Clause in Contracts

Option to Terminate. Provided the Tenant is not then, and has not been in default of its covenants and obligations under the Lease, the Tenant shall have a One (1) time option to terminate this Lease (the “Option to Terminate”) on the following conditions: (i) the Option to Terminate shall only be exercised effective on May 31, 2026 (the “Early Termination Date”), by providing the Landlord with written notice of termination by no later than November, 2025 (the “Termination Notice”); (ii) concurrently with delivery by the Tenant of the Termination Notice, the Tenant shall pay to the Landlord a termination fee equal to: (a) the unamortized real estate commissions paid by the Landlord in respect of this Lease; and (b) the unamortized portion of the Free Basic Rent; and (c) an amount equal to Three (3) months of Basic Rent and Additional Rent then due under the Lease, (collectively, the “Termination Fee”), plus GST. The Tenant shall continue to be bound by and comply with all the Tenant’s obligations under the Lease from and after the delivery of the Termination Notice until the Early Termination Date. If the Termination Notice is not delivered on or before the Early Termination Date, or if any of the above conditions have not been met in the manner and/or within the timelines provided herein, this Option to Terminate shall expire and be of no further force or effect and the Tenant shall not have any further right to terminate the Lease.

Option to Terminate. Paragraph 13 of the First Amendment shall be deleted in its entirety and the following shall be inserted in its place: “Provided the Tenant is not then, and has not been in default of its covenants and obligations under this Lease from the Leasetime of exercising the right contained herein to the effective date of such right, Tenant may have the Tenant shall have a One (1) time option right to terminate this Lease (the “Option to Terminate”Termination Option) effective on the following conditions: last day of the 36th month of the Renewal Term (i) the Option to Terminate shall only be exercised effective on May 31, 2026 (the “Early Termination Date”)) provided that Tenant (a) gives Landlord at least four (4) months prior written notice, by providing the Landlord with written notice of termination by no later than November, 2025 (the “Termination Notice”); (iib) concurrently with delivery by the Tenant of the Termination Notice, the Tenant shall pay to the Landlord pays a termination fee equal to: of $26,440.00 in addition to the 36th month’s Base Rent, (ac) the unamortized real estate commissions paid by the Landlord in respect of this Lease; and (b) pays the unamortized portion of the Free Basic Rent; leasehold improvement costs associated with this Lease as of the Termination Date and (d) pays the unamortized portion of the leasing commission costs associated with this Lease as of the Termination Date. It is further agreed that the sums due and payable under (b), (c) an amount equal and (d) above must be paid in full upon delivery of the termination notice to Three (3) months Landlord. Notwithstanding, Tenant shall remain liable for any obligations under the terms of Basic Rent the Lease that survive any such termination or any obligations that accrued prior to the Termination Date.” Except as modified and Additional Rent then due under amended herein, all other terms and conditions of the Lease are hereby ratified and affirmed in all respects. In the event of any conflict between the terms and conditions of the Second Amendment and the Lease, (collectively, the “Termination Fee”), plus GST. The Tenant shall continue to be bound by and comply with all the Tenant’s obligations under the Lease from and after the delivery of the Termination Notice until the Early Termination Date. If the Termination Notice is not delivered on or before the Early Termination Date, or if any of the above conditions have not been met in the manner and/or within the timelines provided herein, this Option to Terminate shall expire and be of no further force or effect and the Tenant shall not have any further right to terminate the Leasecontrol.

Option to Terminate. a. Provided the that Tenant is not then, and has not been in default at the time of its covenants and obligations under Tenant's exercise of the LeaseOption (defined hereinafter) or as of the Termination Date (as defined hereinafter), the Tenant shall have a One (1) time the option to terminate this Lease (the “Option”). The termination date shall be either December 31, 2009, or December 31, 2011 (as the case may be, the "Termination Date"). Tenant shall provide to Landlord not less than two hundred seventy (270) days prior to the applicable Termination Date (the "Notice Date"), a written notice of the exercise of the Option to Terminateterminate the Lease, time being of the essence. Such notice shall be given in accordance with Section 8.04 of the Lease, as hereby amended. If notification of the exercise of the Option is not so given and received, the Option granted hereunder shall automatically expire. As a condition to the effectiveness of this Option, Tenant shall pay to Landlord an amount equal to one hundred percent (100%) of all unamortized brokerage fees and tenant improvement costs as of the Termination Date (the “Termination Payment”) on the following conditions(as detailed by Landlord in a written statement), payable as follows: (i) fifty percent (50%) of the Option to Terminate Termination Payment shall only be exercised effective paid on May 31the Notice Date, 2026 (the “Early Termination Date”), by providing the Landlord with written notice of termination by no later than November, 2025 (the “Termination Notice”); and (ii) concurrently with delivery the remaining fifty percent (50%) of the Termination Payment shall be paid on or before the Termination Date. The Termination Payment is in addition to payment by the Tenant of all other amounts payable by Tenant to Landlord pursuant to the Lease prior to the Termination Notice, the Tenant shall pay to the Landlord a termination fee equal to: (a) the unamortized real estate commissions paid by the Landlord in respect of this Lease; and (b) the unamortized portion of the Free Basic Rent; and (c) an amount equal to Three (3) months of Basic Rent and Additional Rent then due under the Lease, (collectively, the “Termination Fee”), plus GST. The Tenant shall continue to be bound by and comply with all the Tenant’s obligations under the Lease from and after the delivery of the Termination Notice until the Early Termination Date. If the Termination Notice is not delivered on or before the Early Termination Date, or if any of the above conditions have not been met in the manner and/or within the timelines provided herein, this Option to Terminate shall expire and be of no further force or effect and the Tenant shall not have any further right to terminate the Lease.

Option to Terminate. Provided the Landlord shall use diligent and good faith efforts to obtain a waiver from Prime Landlord so that Tenant is not then, and has not been in default exempted from the requirement to pay Responsible Wages per section 2-11.16 of its covenants and obligations under the LeaseCounty Code for construction work performed on the Property by Landlord (the “Waiver”) within one twenty (120) days following the Execution Date (“Termination Option Period”). For the avoidance of doubt, the Waiver is not meant to address improvements that Tenant may perform and seek grant money to fund. If the Waiver is not received on or before the expiration of Termination Option Period, or if Landlord notifies Tenant in writing prior to the expiration of the Termination Option Period that the Waiver has been denied by the Prime Landlord, then no later than fifteen (15) days following the earlier of the foregoing conditions to occur, Tenant shall have a One (1) time option the right to terminate this Lease. If Tenant fails to notify Landlord in writing of its election to terminate this Lease (within said time period, then this contingency shall be deemed satisfied and the “Option to Terminate”) on the following conditions: (i) the Option to Terminate Lease shall only be exercised effective on May 31continue, 2026 (the “Early Termination Date”), by providing the Landlord with written notice of termination by no later than November, 2025 (the “Termination Notice”); (ii) concurrently with delivery by the Tenant time being of the Termination Noticeessence. If Tenant elects to terminate this Lease as provided above, the parties shall thereafter be released from any further obligations under this Lease except for the obligations which expressly survive termination, which shall include, without limitation, Landlord’s obligation to reimburse Tenant shall pay to the Landlord a termination fee equal to: for any payment of its share of Aviation Annual Land Rent (aas defined in Section 4.01(A) the unamortized real estate commissions paid by the Landlord in respect of this Lease; and (b) the unamortized portion of the Free Basic Rent; and (cPrime Lease) an amount equal to Three (3) months of Basic Rent and Additional Rent then due under the Lease, (collectively, the “Termination Fee”), plus GST. The made by Tenant shall continue to be bound by and comply with all the Tenant’s obligations under the Lease from and after the delivery of during the Termination Notice until the Early Termination Date. If the Termination Notice is not delivered on or before the Early Termination Date, or if any of the above conditions have not been met in the manner and/or within the timelines provided herein, this Option to Terminate shall expire and be of no further force or effect and the Tenant shall not have any further right to terminate the LeasePeriod.

Option to Terminate. Provided the Tenant is not then, and has not been in default of its covenants and obligations under the Lease, the A. Tenant shall have a One (1) time option the option, to be exercised as hereinafter provided, to terminate the Term of this Lease effective as of the last day of the eighth (8th) Lease Year hereunder (the “Option to Terminate”) on the following conditions: (i) the Option to Terminate shall only be exercised effective on May 31, 2026 (the “Early Termination Date”), subject to the terms and conditions hereinafter set forth. Tenant’s option to terminate the Term of this Lease shall be exercised, time being of the essence, by providing the Landlord with written notice of termination by no later than November, 2025 to Landlord given on or before twelve (12) months prior to the Termination Date (the “Latest Termination NoticeExercise Date”); . If Tenant fails to so timely exercise its termination right as described in the preceding sentence, then Tenant shall be deemed to have waived such right, and this Section 34 shall thereupon be deemed null and void. One-half (ii1/2) concurrently with delivery by the Tenant of the Termination Notice, the Fee (as hereinafter defined) shall be due from Tenant shall pay to the Landlord a termination fee equal to: (a) the unamortized real estate commissions paid by the Landlord in respect of this Lease; and (b) the unamortized portion of the Free Basic Rent; and (c) an amount equal to Three (3) months of Basic Rent and Additional Rent then due under the Lease, (collectively, the “Termination Fee”), plus GST. The Tenant shall continue to be bound by and comply with all the Tenant’s obligations under the Lease from and after the delivery of the Termination Notice until the Early Termination Date. If the Termination Notice is not delivered on or before the Early date Tenant exercises its termination option under this Section 34, and the remaining one-half (1/2) of said Termination Fee shall be due from Tenant to Landlord on or before the Termination Date, or if any and such timely payments shall (at Landlord’s option at its sole discretion), be an express condition to the effectiveness of Tenant’s early termination election hereunder. Payment of the above conditions have not been met Termination Fee shall be made in the manner and/or within the timelines provided herein, this Option to Terminate shall expire and be cash or by cashier’s check or by wire transfer of no further force or effect and the Tenant shall not have any further right to terminate the Lease.readily available funds. “