Partial Surrender Rights Sample Clauses

Partial Surrender Rights. (a) Subject to JTC’s consent and to JTC’s conditions (if any) imposed in respect of such partial surrender, the Tenant shall, after the expiry of forty-eight (48) months from the Lease Commencement Date, have the option to surrender from time to time such premises leased by it under or pursuant to this Agreement (including, where applicable, the RFR Premises and the Reserved Premises) so long as it continues to occupy at least [166,200] square feet of the net lettable area of the Building after each surrender without being liable for any penalty, fee (save for any administration fee payable) or compensation whatsoever to the Landlord (the "Partial Surrender Rights") Provided that such partial surrender of the Premises shall be on the following terms and conditions: (i) the Tenant shall give the Landlord not less than twelve (12) months’ prior written notice of its intention to surrender, such notice not to be served before the expiry of forty-eight (48) months from the Lease Commencement Date, with the intent that the effective date of surrender would fall after the expiry of sixty (60) months from the Lease Commencement Date; (ii) the size, location, configuration and layout of the part of the Premises to be surrendered shall be subject to the Landlord’s approval and to the surrendered space being contiguous and deemed marketable by the Landlord for leasing to any other party at the time of its surrender and which has reasonable access to Common Facilities and over the Common Areas; (iii) the Tenant shall bear the costs of (a) any necessary reconfiguration to create new access ways, corridors, partitions and party walls resulting from such surrender and (b) the preparation and finalisation of all necessary surrender documents to effect the surrender (excluding the Landlord’s legal fees) and stamp duty payable thereon (if any); (iv) with effect from (and including) the first partial surrender of the relevant Surrender Premises, the term "Premises" wherever it appears in this Lease Agreement shall refer (where the context so admits) to the Balance Premises remaining after each instance of surrender by the Tenant of part of the Premises; (v) the Tenant shall pay: (i) the monthly rent for the Balance Premises on the net lettable floor area of the Balance Premises calculated at the rate of Rent then applicable; and (ii) the monthly service charge for the Balance Premises on the net lettable floor area of the Balance Premises calculated at the rate of Service C...