SURRENDER OF LEASE. The voluntary or other surrender of this Lease by Lessee, or a mutual cancellation thereof, shall not work a merger, and shall, at the option of Lessor, terminate all or any existing subleases or sub tenancies, or may, at the option of Lessor, operate as an assignment to him of any or all such subleases or sub tenancies.
SURRENDER OF LEASE. The voluntary or other surrender of this Lease by Tenant, or mutual cancellation thereof, shall not work a merger and may, at the option of Landlord, terminate all or any existing subleases or subtenancies or may operate as an assignment of any or all such subleases or subtenancies to Landlord.
SURRENDER OF LEASE. In the event of any such default by Lessee, then in addition to any other remedies available to Lessor at law or in equity, Lessor shall have the immediate option to terminate this Lease before the end of the Lease Term and all rights of Lessee hereunder, by giving written notice of such intention to terminate. In the event that Lessor terminates this Lease due to a default of Lessee, then Lessor may recover from Lessee: a) the worth at the time of award of any unpaid Rent which had been earned at the time of such termination; plus b) the worth at the time of award of unpaid Rent which would have been earned after termination until the time of award exceeding the amount of such rental loss that the Lessee proves could have been reasonably avoided; plus c) the worth at the time of award of the amount by which the unpaid Rent for the balance of the Lease Term after the time of award exceeds the amount of such rental loss that the Lessee proves could have been reasonably avoided; plus d) any other amount necessary to compensate Lessor for all the detriment proximately caused by Lessee's failure to perform his obligations under this Lease or which in the ordinary course of things would be likely to result therefrom; and e) at Lessor's election, such other amounts in addition to or in lieu of the foregoing as may be permitted from time to time by applicable California law. As used in (a) and (b) above, the "worth at the time of award" is computed by allowing interest at the rate of Xxxxx Fargo's prime rate plus two percent (2%) per annum. As used in (c) above, the "worth at the time of award" is computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus one percent (1%).
SURRENDER OF LEASE. If in the reasonable opinion of the Lessor any proposed Rebuilding requires the demolition or alteration of the Premises or any part of the Premises or if such proposed expansion, rebuilding or alteration means that the Premises will not in the reasonable opinion of the Lessor be suitable or in a suitable location in the Property for the Permitted Use (or if the Rebuilding in the area close to the Premises means that it is desirable for the Lessor to rebuild that area of the Property in which the Premises are situated) the Lessor may give notice in writing (the "Surrender Notice") to the Lessee no earlier than the 5th anniversary of the Commencement Date that it requires this Lease to be surrendered on a date (the "Date of Surrender") to be specified in such notice and in no event being less than 6 months from the service of the Surrender Notice.
SURRENDER OF LEASE. The voluntary or other surrender of this Lease by Tenant, or a mutual cancellation thereof, shall not automatically effect a merger of the Lease with Landlord’s ownership of the Premises. Instead, at the option of Landlord, Tenant’s surrender may terminate all or any existing subleases or subtenancies or may operate as an assignment to Landlord of any or all such subleases or subtenancies, thereby creating a direct Landlord-tenant relationship between Landlord and any subtenants.
SURRENDER OF LEASE. In the event of the Lessor electing to rebuild or substantially upgrade or alter the Property or any part of the Property for transport related requirements, the Lessor will give notice to the Lessee to require the surrender of the lease, as follows:
7.7.1 if in the reasonable opinion of the Lessor any proposed expansion, rebuilding or alteration of the Property requires the demolition or alteration of the Premises or any part of the Premises, or if such proposed expansion, rebuilding or alteration of the Property means that the Premises will not in the reasonable opinion of the Lessor be suitable or in a suitable location in the Property for the business permitted to be carried on in the Property, the Lessor may give notice in writing (the “Surrender Notice”) to the Lessee, no earlier than the 5th anniversary of the Commencement Date, that it requires the Lease to be surrendered on a date (the “Date of Surrender”) to be specified in such notice and in no event being less than six (6) months from the service of the Surrender Notice;
7.7.2 on the Date of Surrender the Lessee will yield up vacant possession of the Premises as if the Lease had expired by lapse of time, and deliver to the Lessor its copy of the Lease and so all such acts and things and sign all such documents as are reasonably required of it by the Lessor;
7.7.3 each party will pay its own costs of and incidental to the preparation and execution of any such surrender;
7.7.4 no compensation whatsoever will be payable by the Lessor to the Lessee, whether for interruption of its business, loss of profits arising from such interruption, relocation costs or otherwise however arising.
SURRENDER OF LEASE. The voluntary or other surrender of its interest in this Lease by Tenant or a mutual cancellation of this Lease shall not work a merger, and shall, at the election of Landlord, either terminate all or any existing subleases or subtenancies or operate as an assignment to Landlord of any or all of such subleases or subtenancies. Landlord shall exercise its election within 30 days of any such surrender or cancellation.
SURRENDER OF LEASE. At the termination of this Lease or Tenant’s right of possession, Tenant shall return the Premises to Landlord in good and sanitary order, condition and repair, free of rubble and debris, broom clean, reasonable wear and tear excepted. Tenant shall ascertain from Landlord at least 30 days prior to the termination of this Lease, which Alterations are to be removed in accordance with Article 17 and then Tenant shall forthwith remove the appropriate Alterations and restore the Premises to the condition required herein, entirely at its own expense. At its sole cost and expense, Tenant shall repair all damage to the Premises caused by the removal of trade fixtures or personal property that Tenant is permitted or required to remove.
SURRENDER OF LEASE. The Lessee may surrender this entire lease or any officially designated subdivision of the leased area by filing with the appropriate field office of the Bureau of Land Management a written relinquishment, in triplicate, which shall be effective as of the date of filing. No surrender of this lease or of any portion of the leased area shall relieve the Lessee or its surety of the obligation to to pay all accrued rentals, royalties, and other financial obligations or to abandon all xxxxx on the area to be surren• dered in a manner satisfactory to the Director.
SURRENDER OF LEASE. The voluntary or other surrender of this Lease by Tenant, or a mutual cancellation thereof, shall not work as a merger. At the election of Landlord, it shall either terminate all or any existing subleases or subtenancies or operate as an assignment to Landlord of any or all such subleases or subtenancies. Tenant shall return the Premises to Landlord at the expiration or earlier termination of this Lease in good and sanitary order, condition and repair, free of rubble and debris, broom clean, reasonable wear and tear excepted. Tenant shall ascertain from Landlord at least 30 days prior to the termination of this lease, whether Landlord desires the Premises, or any part thereof, restored to its condition prior to the making of Alterations, installations and improvements, and if Landlord shall so desire, then Tenant shall forthwith restore said Premises or the designated portions thereof, as the case may be, to its original condition, entirely at its own expense, excepting normal wear and tear. All damage to the Premises caused by the removal of trade fixtures and personal property that Tenant is permitted to remove under the terms of this Lease shall be promptly repaired by Tenant at its sole cost and expense.
