Options to Terminate. The Company shall have, and is hereby granted, an option to prepay and terminate the Loan, upon satisfaction of the following conditions at any time prior to full payment of the Bonds (or provision for payment thereof having been made in accordance with the provisions of the Indenture): (a) in accordance with Article IX of the Indenture, by paying to the Trustee an amount which, when added to the amount on deposit in the funds established under the Indenture and available therefor, will be sufficient to pay, retire and, pursuant to the Indenture, redeem all the outstanding Bonds in accordance with the provisions of the Indenture (including, without limiting the generality of the foregoing, principal of and interest to maturity or the earliest applicable redemption date, as the case may be, and expenses of redemption and the Trustee’s fees and expenses due hereunder or under the Indenture), and in case of redemption making arrangements satisfactory to the Trustee for the giving of the required notice of redemption, (b) by giving the Issuer notice in writing of such termination and (c) by making full payment of Additional Payments due under Section 4.02; thereafter such termination shall forthwith become effective. Any prepayment pursuant to this Section 6.01 shall either comply with the provisions of Article IX of the Indenture or result in redemption of the Bonds within 90 days of the date of prepayment. Nothing contained in this Section 6.01 shall prevent the payment of part of any of the Bonds pursuant to Article IV or Section 9.02 of the Indenture.
Options to Terminate. The User shall have, if it is not in default hereunder, the option to cancel or terminate the term of this Lease Agreement at any time after full payment of the Indenture Indebtedness and termination of the Letter of Credit by giving the Issuer notice in writing of such termination and such termination shall forthwith become effective. This Lease Agreement may not be terminated prior to payment in full of the Indenture Indebtedness even if all amounts due hereunder have been paid in full.
Options to Terminate. The Lessee shall have, and is hereby granted, the option to purchase the Leased Facilities upon payment in full of the Bonds (or provision for payment thereof having been made in accordance with the provisions of the Indenture) throughout the Lease Term, subject to the following provisions. To exercise such option, the Lessee shall give written notice to the Lessor and to the Trustee, if any of the Bonds shall then be unpaid and provision for the payment thereof has not been made in accordance with the provisions of the Indenture, and shall specify therein the date of closing such purchase, which date shall be not less than forty-five (45) nor more than ninety (90) days from the date such notice is mailed, and in case of a redemption of the bonds in accordance with the provisions of the Indenture shall make arrangements satisfactory to the Trustee for the giving of the required notice of redemption. The purchase price payable by the Lessee shall be the sum of the following:
(1) an amount of money to be paid into the Bond Fund which, when added to the amount then on deposit in the Bond Fund for payment of the bonds, will be sufficient to pay, redeem or pay at maturity all of the then outstanding Bonds on the next date on which such Bonds may be redeemed or paid at maturity, including without limitation, principal, premium, if any, all accrued interest to said date and redemption expenses, plus
(2) an amount of money equal to the Trustee's fees and expenses under the Indenture, and the expenses of the Lessor accrued and to accrue until such final payment and redemption of the Bonds, plus
(3) consideration in the amount of $1,000 to cover administrative fees incurred in connection with such conveyance. In the event of the exercise of the option granted in this Section any Net Proceeds of insurance or condemnation not transferred to the Bond Fund for the redemption or payment of the Bonds shall be paid to the Lessee and the Lease Term shall be terminated.
Options to Terminate. 27 SECTION 11.02
Options to Terminate. The Company shall have, and is hereby granted, the following options to terminate this Lease:
(a) At the time of any prepayment of the Rental Payments in whole pursuant to the provisions of Section 5.5 hereof, the Company may terminate this Lease (i) by paying to the appropriate person the amounts required by Section 11.5 hereof, and (ii) by Company giving the Issuer notice in writing of such termination.
(b) At any time after full payment of the Loan, the Company may terminate this Lease by giving the Issuer notice in writing of such termination.
Options to Terminate. The Company shall have, if it is not in default hereunder, the following options to cancel or terminate the term of this Lease Agreement:
(a) At any time prior to full payment of the Bonds. the Company may terminate this Lease Agreement by paying to the Board and the Trustee, as additional or prepaid rental, in bankable funds an amount which. when added to the amount on deposit in the Bond and Interest Fund. will be sufficient to pay, retire and redeem all the outstanding Bonds in accordance with the provisions of the Mortgage (including, without limiting the generality of the foregoing, principal, interest to maturity or earliest practicable redemption date, as the case may be, premium, expenses of redemption and Trustee's and paying agents' fees);
(b) After full payment of the Bonds, the Company may terminate this Lease Agreement as of any then succeeding anniversary date by giving the Board notice in writing not less than one hundred eighty (180) days prior to the anniversary date on which such termination is to become effective.
Options to Terminate. If the Building or a substantial part of it (whether including the Premises or not) is destroyed or damaged by an Insured Risk this Lease may be terminated by the Landlord giving to the Tenant (within 12 months after such destruction or damage) not less than six months’ notice.
Options to Terminate. (1) Notwithstanding anything herein to the contrary, in the event the holder of any indebtedness secured by a mortgage or deed of trust covering the Building requires that the insurance proceeds be applied to such indebtedness, then Landlord or Tenant shall have the right to terminate this Lease by delivering written notice of termination to Tenant within fifteen (15) days after such requirement is made by any such holder, whereupon all rights and obligations hereunder thereafter accruing shall cease and terminate.
(2) Notwithstanding any other provision herein, if any portion of the Rented Space is damaged or destroyed during the final Lease Year of the initial term or any extension term of this Lease, then Landlord and/or Tenant shall have the option to terminate this Lease upon written notice to Tenant and/or Landlord within thirty (30) days of the date of such damage.
Options to Terminate. In the event that the contract price for any six-month contract period is less than 75 cents per pound, MLP shall be entitled to terminate this agreement at its sole option by providing 60 days written notice. In the event that the contract price for any six-month contract period is more than $1.20 per pound, IP shall be entitled to terminate this agreement at its sole option by providing 60 days written notice.
Options to Terminate. Provided that Tenant is not in default under the Lease beyond any applicable grace period at the time that Tenant exercises its termination option, Tenant shall have the one-time right and option to terminate this Lease effective as of the end of the seventh (7th) Lease Year after the Amendment Effective Date (the "Termination Date") only and strictly upon the following terms and conditions: To exercise its option to terminate, Tenant shall give Landlord written notice (in accordance with Section 32(a) of the Lease) of Tenant's unqualified, irrevocable exercise of the option to terminate the Lease not less than twelve (12) months prior to the Termination Date. If Tenant elects to exercise its termination option, Tenant shall be responsible for all Lease obligations up to the Termination Date, at which time Tenant shall deliver the Leased Premises to Landlord in accordance with the terms and provisions of Section 22 of the Lease, and upon such termination of this Lease, Landlord shall have the right to re-enter and resume possession of the Leased Premises. Thereafter, neither party shall have any further rights or obligations to the other except to the extent that any provisions of this Lease specifically provide that they are intended to survive termination and for any Lease obligation, including but not limited to any accrued but unpaid rent, not satisfied prior to the Termination Date.
