Tenant Right to Terminate. Notwithstanding any other provisions of this Article 10, if all or any material part of the Demised Premises are rendered untenantable by damage from fire or other casualty and if such damage, in the reasonable opinion of the Architect (which opinion will be delivered by the Architect to the Landlord and the Tenant within thirty (30) days of the date of the damage), has destroyed at least fifty percent (50%) of the Building and all such damage cannot be substantially repaired under Applicable Laws with reasonable diligence within twenty four (24) months from the date of such damage and receipt of all necessary permits, then Tenant shall have the right to elect to terminate this Lease by written notice delivered to the Landlord not more than twenty (20) days after receipt of the Architect’s opinion, failing which Section 10.2 shall apply. In the event that the Tenant elects to terminate this Lease as aforesaid, the Tenant acknowledges that all insurance proceeds with respect to any damage or destruction of the Demised Premises or part thereof (including, without limitation, all Leasehold Improvements and Alterations, but excluding Tenant’s Trade Fixtures), shall become the absolute property of the Landlord and if paid to or received by the Tenant shall be immediately paid over and remitted to the Landlord. Any termination by the Tenant pursuant to this Section 10.3 shall be subject to and shall only be effective upon the receipt in full by the Landlord of the insurance proceeds (including, without limitation, all proceeds of the rental interruption insurance) with respect to such damage and destruction, plus the amount of any deductible under any such policies. For the purposes of this Section 10.3, “untenantable” in the case of the Demised Premises means unusable for the purposes of carrying on business as contemplated by the provisions of this Lease and, without limiting the generality of the foregoing, if access to the Demised Premises is materially interfered with for a period likely to exceed two (2) years, then the Demised Premises shall be deemed to be wholly untenantable.
Tenant Right to Terminate. Any time after January 1, 2024, Tenant shall have the right, subject to the provisions of this Section 4, to terminate the Lease with respect to the entire Premises only (“Tenant’s Termination Right”), so long as Tenant delivers to Landlord a written notice (“Tenant’s Termination Notice”) of its election to exercise Tenant’s Termination Right. For the avoidance of doubt, Txxxxx may deliver Tenant’s Termination Notice as early as November 1, 2023. Tenant’s Termination Notice shall identify the date on which Tenant desires to terminate the Lease (“Early Termination Date”) which Early Termination Date shall in no event be less than 60 days after Tenant’s delivery to Landlord of Tenant’s Termination Notice. If Tenant timely and properly exercises Tenant’s Termination Right, Tenant shall voluntarily surrender the Premises on or before the Early Termination Date in the condition which Txxxxx is required to surrender the Premises as of the expiration of the Lease. From and after the Early Termination Date, Tenant shall have no further rights with respect to the Premises. Notwithstanding the foregoing, those provisions of the Lease which, by their terms, survive the termination of the Lease shall survive the surrender of the Premises and termination of the Lease as provided herein. Nothing herein shall excuse Tenant from its obligations under the Lease prior to the Early Termination Date.
Tenant Right to Terminate see Section 3.04
Tenant Right to Terminate. A. In the event, subject to Force Majeure, that Landlord is unable to substantially complete Landlord's Work by November 30, 2015, Tenant shall have the right to terminate this Lease by written notice given to Landlord at any time thereafter.
B. So long as (i) this Lease is in full force and effect, (ii) one hundred percent (100%) of the Premises are occupied by Centro, Inc., or Centro, Inc.'s successor or assign pursuant to a Permitted Transfer (inasmuch as the termination right hereunder is intended only for the benefit of Centro, Inc., or Centro, Inc.'s successor or assign pursuant to a Permitted Transfer), and (iii) Tenant is not in default under this Lease (after the expiration of any applicable notice and cure period, as provided herein), Tenant shall have the right, upon written notice to Landlord (the “Termination Notice”), to terminate this Lease as to all of the Premises by written notice to Landlord given no sooner than fifteen (15) calendar months prior the Early Termination Date and no later than twelve (12) calendar months prior the Early Termination Date (defined hereinafter) in which event this Lease shall terminate on the Early Termination Date. The “Early Termination Date” is the seventh (7th) anniversary of the Commencement Date. In the event that Tenant elects to terminate this Lease, as provided under this Section 3 .04, Tenant shall pay Landlord a Termination Fee (defined hereinafter) at the same time the Termination Notice is given to Landlord. The “Termination Fee” is an amount equal to the sum of (A) (i) the unamortized portion of the Construction Allowance, (ii) the unamortized portion of the Rent Abatement Amount (defined in Section 1.13), and (iii) the unamortized portion of the commission paid to the Broker listed in Section 1.22, and (B) an amount equal to the Base Rent, Expenses and Taxes payable under this Lease for the three (3) calendar months that occur immediately prior to the Early Termination Date. The amounts described in subsection (A) above shall be amortized on a straight line basis over 120 calendar months, beginning on the Commencement Date and shall include an interest factor of eight (8%) percent per annum for the time period from the Early Termination Date to the Termination Date. Upon Tenant's request, in writing, Landlord shall provide Tenant with the amount of commission paid to the Broker listed in Section 1.22 no later than thirty (30) days after Tenant's written request. If Tenant fails to timely exercis...
Tenant Right to Terminate. Section 3.04(A) of the Lease is hereby deleted in its entirety. The definition of the term "Early Termination Date" is hereby deleted in its entirety and redefined to mean October 31, 2028. The second and third paragraphs of Section 3.04(B) of the Lease are hereby deleted in their entirety and replaced with the following: "In the event that Tenant elects to terminate this Lease, as provided under this Section 3.04, Tenant shall pay Landlord fifty percent (50%) of the Termination Fee at the same time the Termination Notice is given to Landlord and the remaining fifty percent (50%) on or before the date which is thirty (30) days prior to the Early Termination Date, time being of the essence in payment of the Termination Fee.
Tenant Right to Terminate. [for hotel leases only] In the event that Tenant does not reach an agreement with a national franchisor of [limited service/full service] hotels such as [Marriot Courtyard, Hilton Garden Inn] or a similar national chain (any such party, a “Franchisor”), on terms and conditions, and in a form, acceptable to Tenant and reasonably acceptable to Landlord, on or before the expiration of [eight (8) months] from the Effective Date (the actual date on which such agreement is reached (which must be on or before the expiration of [eight (8)] months from the Effective Date) is herein called the “Franchisor Agreement Date”), then either Landlord or Tenant shall have the right to terminate this Lease, in which event Tenant shall reimburse Landlord for (i) all out of pocket costs incurred by Landlord in the negotiation, enforcement, operation and documentation of this Lease, plus (ii) the sum of [One Hundred Thousand Dollars ($100,000.00)]. Upon Landlord’s or Tenant’s delivering a notice of termination to the other party, this Lease shall terminate and the parties hereto shall have no
Tenant Right to Terminate. 70 10.25 Litigation................................................................................72 10.26
Tenant Right to Terminate. Provided that all Bonds are redeemed, the Loan Agreement terminated and the Indenture released, if Landlord should be in default in the performance of any of its obligations under this Lease, which default continues for a period of more than thirty (30) days after receipt of written notice from Tenant specifying such default, or if such default is of a nature to require more than thirty (30) days for remedy and continues beyond the time reasonably necessary to cure [provided Landlord must have undertaken procedures to cure the default within such thirty (30) day period and diligently pursue such efforts to cure to completion], Tenant may, in addition to availing itself of any other remedies available at law and in equity, at its option, upon written notice, terminate this Lease, or may incur any reasonable expense necessary to perform the obligation of Landlord specified in such notice and deduct such expense from the Company Payments next becoming due.
Tenant Right to Terminate. In the event the terms and conditions of this Agreement, including the rentals, fees and charges payable hereunder, have been substantially modified pursuant to Article 18.02 above, the Tenant, at any time within one year following the effective date of such modification, may terminate this Agreement by giving not less than 270 days written notice to the County, without liability by either party to the other.
