Tenant's Option to Terminate Lease. If no default by Tenant under this Lease has occurred and is then continuing and if no event has occurred and is then continuing which, with the giving of notice or lapse of time, or both, would become such a default, Tenant shall, if the Improvements are damaged or destroyed by fire or other casualty and repair or restoration of the Improvements cannot be completed within sixty (60) days following the occurrence of the casualty causing such damage or destruction, have the option of terminating this Lease by written notice to Landlord, which termination shall be deemed to be effective as of the date of the casualty. Tenant's option to terminate the Lease pursuant to the provisions of this Section 14.3 must be exercised within thirty (30) days of the date of the casualty causing such damage or destruction. In the event that Tenant elects to terminate this Lease pursuant to this Section 14.3, Tenant shall immediately surrender possession of the Premises to Landlord and shall assign to landlord (or if the same has already been received by Tenant, pay to Landlord) all of Tenant's right, title, and interest in and to the insurance proceeds payable with respect to the Premises.
Tenant's Option to Terminate Lease. Provided Tenant is not in default in any of the terms, covenants and conditions of this Lease and any amendments thereto, Landlord hereby grants to Tenant an Option to Terminate this Lease effective as of the end of the thirty-sixth (36th) month of the Lease term (April 30, 2009), subject to the following terms and conditions:
Tenant's Option to Terminate Lease. 37.01 Tenant may elect to terminate this Lease effective January 31, 2002. Tenant may exercise its right to so terminate the term hereof by (i) giving Landlord notice to that effect by registered or certified mail, return receipt requested, during the month of July 2001; (ii) accompanying the notice of termination shall be a termination fee in the sum of One Hundred Twenty Four Thousand, Seven Hundred Fifty Two ($124,752.00) Dollars; (iii) performing all of Tenant's obligations hereunder through such termination date, including the surrender of the Leased Premises on or before that date.
Tenant's Option to Terminate Lease. Provided Tenant is not in default in any of the terms, covenants and conditions of this Lease and any amendments thereto, and in exchange for the payment to Landlord of a Termination Fee as referenced below, Landlord hereby grants to Tenant Two (2) Options to Terminate this Lease, subject to the following terms and conditions:
Tenant's Option to Terminate Lease. Notwithstanding anything contained in the Lease, as amended by this Amendment, to the contrary, Tenant shall have the right and option to terminate the Lease effective December 31, 2015 upon the terms and conditions expressly set forth hereinafter. Provided there are no uncured breaches or defaults under the Lease on the part of Tenant and all Adjusted Base Rent and other amounts due from Tenant through December 31, 2015 have been paid in full, upon at least twelve (12) months prior written notice from Tenant to Landlord, Tenant shall have the right and option to terminate the Lease effective December 31, 2015 upon the payment by the Tenant to Landlord of a lump sum buyout amount of One Million Three Hundred Seventy Five Thousand Dollars ($1,375,000.00) (“the Lease Buyout Payment”). In the event (i) Tenant provides Landlord with at least twelve (12) months prior written notice of Tenant’s election to exercise the Tenant’s right and option to terminate the Lease effective December 31, 2015, (ii) there are no uncured breaches or defaults under the Lease on the part of Tenant as of December 31, 2015, (iii) all Adjusted Base Rent and other amounts due from Tenant through December 31, 2015 have been paid in full and (iv) the Lease Buyout Payment is received by Landlord on or before December 31, 2015, then upon compliance by Tenant with the foregoing, the Lease shall terminate and lapse effective December 31, 2015 and any and all obligations and liabilities thereunder shall lapse, cease and terminate, with the exception of any liability or obligation which survives termination of the Lease pursuant to the express terms of the Lease relative thereto.
Tenant's Option to Terminate Lease. Provided that neither the Substitute Premises (pursuant to Section 30) nor the Alternative Substitute Premises (pursuant to Section 31), are substituted for the Initial Premises and
Tenant's Option to Terminate Lease. Lease Paragraph 54 ("Tenant's Option to Terminate Lease") is hereby deleted in its entirety, and shall be of no further force or effect. EXCEPT AS MODIFIED HEREIN, all other terms, covenants, and conditions of said August 24, 1995 Lease Agreement shall remain in full force and effect.
Tenant's Option to Terminate Lease. Provided Tenant shall not be in default in the performance or observance of any of the terms, covenants, provisions and conditions contained in this Lease on the part of Tenant to be performed or observed, Tenant may terminate this Lease effective on the date (the “Termination Date”), which shall be set forth in a notice sent by Tenant to Landlord, which Termination Date shall be not less than 90 nor more than 150 days after the date of such notice. Tenant shall pay to Owner the “Termination Amount” by certified or bank check simultaneously with sending such notice of termination. Provided Tenant shall have fully complied with all of the provisions of this article, upon the Termination Date, this Lease and the term demised hereunder shall end and shall expire with respect to the entire Demised Premises, as if such date were the date originally fixed in this Lease for the expiration of the term of this Lease.
Tenant's Option to Terminate Lease. Notwithstanding Section 16(a) hereof, in the case of any damage or destruction occurring in the last two (2) years of the Lease Term, to the extent of sixty percent (60%) or more of the replacement cost of the improvements located on the Premises, Tenant may, at its option, by notice in writing given to Landlord within thirty (30) days after the occurrence of such damage or destruction, elect to terminate this Lease as of the date such notice is received by Landlord, and this Lease shall thereupon terminate on the date specified in said notice, except as hereinafter provided, and except with respect to obligations and liabilities of Landlord and Tenant hereunder which have arisen on or prior to the date of such termination. In the event of such termination, the insurance proceeds payable in connection with such damage or destruction of said improvements shall be payable in satisfaction of any Leasehold Mortgage then in effect with the balance payable to Landlord. Upon such termination, regardless of the amount of proceeds available, Tenant shall satisfy or cause to be released any Leasehold Mortgage, or any other mortgages, liens or other encumbrances placed or suffered to be placed on the Premises by Tenant. In addition, Tenant shall do any work necessary so that the Premises shall be surrendered to Landlord in a safe and proper condition. Rent shall be prorated to the date of termination.
Tenant's Option to Terminate Lease. Provided that, as of the date Tenant exercises its Option to Terminate, Tenant is not in monetary default or non-monetary material default following the expiration of applicable notice and cure period of the terms, covenants and conditions of this Lease and any amendments thereto, Landlord hereby grants to Tenant an Option to Terminate the Lease anytime after March 1, 2016, subject to Tenant providing six (6) months pre notice to Landlord of its intent to terminate; the effective date of early termination shall be six (6) months following Landlord’s receipt of said notice, but in no event shall the Lease terminate prior to March 1, 2016.
