Tenant Termination Right. Notwithstanding any provision to the contrary contained in this Lease, Tenant shall have the right to terminate and cancel this Lease in its entirety effective as of either August 31, 2012, August 31, 2013, August 31, 2014 or August 31, 2015 (as applicable, the “Termination Date”), upon Tenant’s delivery of written notice to Landlord (the “Termination Notice”), which notice shall be delivered to Landlord on or before the date which is six (6) full calendar months prior to the subject Termination Date, and, concurrently with its delivery of such Termination Notice, Tenant shall deliver to Landlord the “Termination Fee,’’ as that term is defined hereinbelow, as consideration for and as a condition precedent to such early termination. The “Termination Fee” shall be equal to either (A) Four Hundred Forty-Two Thousand Seven Hundred Eighty One and No/100 Dollars ($442,781.00) in connection with an August 31, 2012 termination, (B) Three Hundred Thirty-Two Thousand Eighty-Six and No/100 Dollars ($332,086.00) in connection with an August 31, 2013 termination, (C) Two Hundred Twenty-One Thousand Three Hundred Ninety and No/100 Dollars ($221,390.00) in connection with an August 31, 2014 termination, or (D) One Hundred Ten Thousand Six Hundred Ninety-Six and No/100 Dollars ($110,696.00) in connection with an August 31, 2015 termination. Subject to Landlord’s timely receipt of the Termination Notice and the corresponding Termination Fee, this Lease shall automatically terminate and be of no further force or effect as of the Termination Date, and Landlord and Tenant shall be relieved of their respective obligations under this Lease, as of the Termination Date, except with respect to those obligations set forth in this Lease, which specifically survive the expiration or earlier termination of this Lease, including, without limitation, the payment by Tenant of all amounts owed by Tenant under this Lease, up to and including the Termination Date. The termination right granted to Tenant under this Section 2.2 shall automatically terminate and be of no further force or effect in the event (w) Tenant fails to properly and timely exercise such termination right as set forth in this Section 2.2, (x) Tenant assigns or subleases all or essentially all of the Premises for all or essentially all of the then-remaining Lease Term to entities or persons other than “Permitted Transferees” (as that term is defined in Section 14.8, below), (y) Tenant’s right to possession of the Premises...
Tenant Termination Right. Notwithstanding any provision to the contrary contained in this Lease, Tenant shall have two (2) options (each, a "Termination Option") to terminate and cancel this Lease effective as of (i) the last day of the ninety-second (92nd) full calendar month of the Lease Term with respect to the first Termination Option, and (ii) the last day of the one hundred forth (104th) full calendar month of the Lease Term with respect to the Termination Date Termination Notice ndlord on or before the date which is twelve (12) full calendar months prior to the applicable Termination Date, and, concurrently with its delivery of such Termination Fee (A) the total amount of Base Rent and estimated Direct Expenses which would otherwise have been paid by Tenant (as if this Lease had not been terminated) for the nine (9) calendar months following the Termination Date with respect to the first Termination Option, and (B) the total amount of Base Rent and estimated Direct Expenses which would otherwise have been paid by Tenant (as if this Lease had not been terminated) for the seven (7) calendar months following the Termination Date with respect to the second Termination Option. of the Termination Notice and the Termination Fee, this Lease shall automatically terminate and be of no further force or effect, and Landlord and Tenant shall be relieved of their respective obligations under this Lease, as of the Termination Date, except with respect to those obligations set forth in this Lease, which specifically survive the expiration or earlier termination of this Lease, including, without limitation, the payment by Tenant of all amounts owed by Tenant under this Lease, up to and including the Termination Date. Each Termination Option shall automatically terminate and be of no further force or effect in the event (x) Tenant fails to properly and timely exercise such Termination Option as set forth in th been terminated, or (z) Tenant is in default under this Lease (beyond the expiration of all applicable notice and cure ination Notice to Landlord. The Termination Options granted to Tenant under this Section 2.3 is personal to the Original Tenant and its Permitted Transferee Assignee and may not be exercised by any assignee, sublessee, or transferee of th Permitted Transferee Assignee' interest in this Lease. 2.4
Tenant Termination Right. If (a) Landlord does not elect to terminate this Lease pursuant to Landlord’s termination right as provided above, (b) the damage constitutes a Tenant Damage Event (as defined hereinbelow), and (c) the repair of such damage cannot, in the reasonable opinion of Landlord’s licensed contractor, as set forth in Landlord’s Damage Notice, be substantially completed within two hundred seventy (270) days after the date Landlord becomes aware of such damage, then Tenant may elect to terminate this Lease by delivering written notice thereof to Landlord within fifteen (15) days after Tenant’s receipt of Landlord’s Damage Notice. As used herein, a “Tenant Damage Event” shall mean damage to all or any part of the Premises or any Common Areas of the Building providing access to the Premises by fire or other casualty, which damage (i) is not the result of the gross negligence or willful misconduct of Tenant or any Tenant Affiliates, (ii) materially interferes with Tenant’s use of or access to the Premises and (iii) would entitle Tenant to an abatement of Base Rent and Tenant’s Share of Building Allocated Operating Expenses and pursuant to Section 15.1 above.
Tenant Termination Right. In the event Tenant fails to make a payment of Minimum Semi-Annual Rent as required hereunder and Landlord does not terminate this Lease as provided hereunder, Tenant may terminate this Lease by giving thirty (30) days advance written notice to the Landlord.
Tenant Termination Right. Notwithstanding the foregoing, Tenant may elect to terminate this Lease by notifying Landlord in writing of such termination within thirty (30) days after Tenant’s receipt of the Damage Notice (such notice to include a termination date giving Tenant at least sixty (60) days to vacate the Premises), but Tenant may so elect only if (i) the Damage Notice from Landlord states that restoration cannot reasonably be completed within two hundred seventy (270) days after being commenced, or (ii) such damage occurs during the last two years of the Term and it would take more than 120 days to complete the restoration of such damage or more than 50% of the Premises are affected by such damage.
Tenant Termination Right. Provided and on condition that (i) Tenant has not constructed a second siding and platform west of the current Union Pacific tracks for the Service, and/or (ii) less than 1,000,000 passengers utilized the Service in the prior 12 month period, Tenant shall have the one time right to terminate the Lease after the 36th month following the Rent Commencement Date (the "Tenant Termination"). Tenant shall provide twelve months prior written notice to Landlord of its election to exercise the Tenant Termination right and shall forfeit the Restoration Deposit to allow Landlord to remove tenant improvements to the land.
Tenant Termination Right. Provided that Tenant is not in default under the Lease, as amended, as of the date of Tenant’s delivery of the “Termination Notice,” as that term is defined hereinbelow, then the Original Tenant or any Permitted Assignee shall have the right to terminate this Lease, effective as of May 31, 2020 (the “Termination Date”), provided that (a) Landlord receives written notice (the “Termination Notice”) from Tenant on or before March 31, 2019, stating that Tenant elects to terminate this Lease pursuant to the terms and conditions of this Section 7, and (b) concurrently with Landlord’s receipt of the Termination Notice, Landlord receives from Tenant the “Termination Fee,” as that term is defined hereinbelow, as consideration for and as a condition precedent to such early termination. The “Termination Fee” shall be equal to the sum of the following:
Tenant Termination Right. Tenant may terminate this Lease effective on the last day of the thirty-ninth month after the Commencement Date by giving Landlord 6 months written notice of Tenant’s election to terminate. In the event Tenant elects to terminate pursuant to this Section XXXI.O, Tenant shall pay to Landlord (i) all Rent due up to the effective date of the termination, plus (ii) an amount equal to the remaining unamortized portion of the Broker Commission Landlord paid in connection with this Lease, (iii) an amount equal to the remaining unamortized portion of the Tenant allowance described in Section I.H above, and (iv) an amount equal to the Rent payments due in the four (4) months following the effective date of the termination.
Tenant Termination Right. Provided that Tenant is not in default under this Lease after the expiration of any applicable notice and cure period as of the date of Tenant's delivery of the "Termination Notice," as that term is defined below, the Original Tenant only shall have the right to terminate this Lease effective as of the date (the "Termination Date") which is the last day of the ninety-third (93rd) full calendar month of the initial Lease Term, provided that (i) Landlord receives written notice (the "Termination Notice") from Tenant on or before the date that is twelve (12) months prior to the Termination Date stating Tenant's election to terminate this Lease pursuant to the terms and conditions of this Section 2.3, and (ii) concurrent with Landlord's receipt of the Termination Notice, Landlord receives from Tenant an amount equal to the "Termination Fee," as that term is defined, below, as consideration for and as a condition precedent to such early termination. Upon Tenant's delivery, if applicable, of a Termination Notice pursuant to the terms of this Section 2.3, the terms of Section 1.2 and Section
Tenant Termination Right. 5 3.5 Confirmation of Commencement Date............................... 5 3.6
