Tenant's Right of Termination. (a) Within thirty (30) days after notice to Landlord of any damage described in Section 12.01 hereof, Landlord shall deliver to Tenant a statement prepared by a licensed, independent architect setting forth such architect's estimate (the "Estimate") as to the time required to repair such damage, exclusive of time required to repair any Tenant's Alterations. If the estimated time period exceeds twelve (12) months from the date of the Estimate or if the 50 Premises are totally damaged by casualty, Tenant may elect to terminate this Lease by notice to Landlord not later than ninety (90) days following receipt of the Estimate or the date of such casualty, as applicable. If Tenant makes such election, the Term shall expire upon the thirtieth (30th) day after notice of such election is given by Tenant, and Tenant shall vacate the Premises and surrender the same to Landlord in accordance with the provisions of Article 18 hereof. If Tenant shall not have elected to terminate this Lease pursuant to this Article 12 (or is not entitled to terminate this Lease pursuant to this Article 12), the damage shall be diligently repaired by and at the expense of Landlord as, and to the extent, required by Section 12.01(a) above, subject to Unavoidable Delays. If the estimated period of repair does not exceed twelve (12) months and, thereafter, Landlord fails to substantially complete such repairs within such twelve (12) month period, Tenant may terminate this Lease by notice to Landlord within thirty (30) days following the expiration of the twelve (12) month period.
(b) Notwithstanding the foregoing, if such damage occurs during the last twelve (12) months of the Term of this Lease and if the estimated time period set forth in the Estimate delivered pursuant to Section 12.02(a) above exceeds ninety (90) days from the date of the Estimate (exclusive of time required to repair any Tenant's Alterations), then Tenant or Landlord may serve notice on the other of its intention to terminate this Lease, and this Lease shall terminate on the date which is thirty (30) days after the date of Tenant's or Landlord's notice, as applicable, as if such termination date were the Expiration Date, and any prepaid portion of Fixed Rent and Additional Rent shall be abated as of such date of damage or destruction and shall be promptly refunded by Landlord to Tenant.
Tenant's Right of Termination. Where the Tenant has not caused or contributed to the damage or destruction of the Premises and the payment of the insurance for the Premises is not refused due to the act or default of the Tenant, the Tenant may give written notice to the Council terminating this Lease where the Council does not:
21.3.1 give notice to the Tenant pursuant to clause 21.1; or
21.3.2 commence reinstatement within 12 months of the date of damage or destruction. Upon termination of this Lease, each party is released from all further obligations under this Lease except nothing in this clauses releases either party from any breach of this Lease arising prior to the date of termination.
Tenant's Right of Termination. Tenant may terminate this Lease upon notice and payment of a termination fee (the "TERMINATION FEE") effective on the date(s) designated hereafter in accordance with the provisions set forth below. If Tenant elects to terminate this Lease, the applicable Termination Fees are as follows:
0.1 If Tenant elects to terminate this Lease effective on December 31, 1999 (the "First Determination Effective Date"), Tenant shall pay a Termination Fee in the sum of Three Million Five Hundred Thousand Dollars ($3,500,000.00) plus an amount equal to the unpaid Remainder Commission (as defined in EXHIBIT G) then due by Landlord to the Tenant's Broker pursuant to the terms of EXHIBIT Q hereof;
Tenant's Right of Termination. In the event that the Tenant despite its best efforts cannot obtain approval from the applicable regulatory agencies or permits from the local authority to operate a branch bank office on the premises, the Tenant shall have the right, in its unfettered discretion, to terminate this lease by giving the Tenant 30 days prior written notice, whereupon, this Lease shall terminate without any liability to either party and this Lease shall be of no further force or effect. Tenant's right to terminate this Lease shall expire and be of no further force or effect as of June 1, 2005. Tenant agrees that it shall, within 10 days of the execution of this Lease, submit all reasonably necessary applications and supporting documentation to the applicable regulatory authority for approval of a branch bank at the demised premises.
Tenant's Right of Termination. Tenant shall have the right to terminate the ----------------------------- Lease after twenty four (24) months with three months prior written notice, if Landlord is unable to provide written assurance by such time that it can provide an additional space of 6500 square feet within twenty four (24) months of the commencement of this Lease.
Tenant's Right of Termination. The Tenant may give written notice to the Landlord terminating this Lease where:
19.3.1 the Landlord does not give notice to the Tenant pursuant to clause 19.2; or
19.3.2 the Landlord does not commence reinstatement within 6 months of the date of damage or destruction. The Landlord does not have to reinstate the Premises and will not be liable to pay the Tenant any compensation.
Tenant's Right of Termination. In the event (i) the Demised Premises is damaged by fire or other casualty, (ii) such damage was not caused by Tenant or any of its subtenants, assignees, contractors, agents or employees, and (iii) such damage is not capable of being repaired within three hundred sixty-five (365) days of the date of the damage, or is not repaired within three hundred sixty-five (365) days after the date of the damage, then Tenant shall have the right, exercisable upon written notice to Landlord within ten (10) days after the date that Tenant is notified by Landlord that the Demised Premises is not capable of being repaired within such three hundred sixty-five (365) day period, or within ten (10) days after the expiration of such three hundred sixty-five (365) day period, as applicable, to terminate this Lease. In the event that Tenant timely delivers such notice of termination to Landlord, then, unless Landlord, within thirty (30) days after its receipt of such termination notice, delivers the Demised Premises (excluding those improvements that Tenant is responsible to restore pursuant to Section 20(a) above) to Tenant in substantially the same condition that existed immediately prior to such damage, then this Lease shall terminate and the parties shall be relieved of all further liability hereunder. In the event Tenant fails to timely exercise such termination right, Tenant shall be deemed to have irrevocably waived its right to terminate this Lease on account of such damage.
Tenant's Right of Termination. During the extended Lease Term Tenant shall be allowed to terminate the Lease without penalty or obligation to maintain the Premises, provided that: (a) Tenant is not in breach of the Lease Agreement at the time of termination, (b) Tenant vacates the Premises promptly upon the termination date and leaves the Premises in a commercially reasonable condition, and (c) Tenant provides the City with no less than ninety (90) days written notice prior to termination.
Tenant's Right of Termination. 36.1 Upon the pre-matured termination of this Tenancy, the Tenant shall give a written notice of the termination to the Landlord at least three (3) months in advance. The three (3) months shall start from the date on which the Landlord has received such notice. In the event the Tenant failed to give the notice of termination, the Landlord may apply the balance Security Deposit (less such appropriate deduction) to pay the outstanding Rent.
Tenant's Right of Termination. If the Premises or the Building are damaged by fire or other casualty, and this Lease is not terminated pursuant to Section 12.1, Landlord shall thereafter use reasonable efforts to restore the Building and the Premises (excluding any Alterations made by Tenant pursuant to Section 5.2) to proper condition for Tenant's use and occupation, provided that Landlord's obligation shall be limited to the amount of insurance proceeds available therefor. If, for any reason, such restoration shall not be substantially completed within six months after the expiration of the ninety-day period referred to in Section 11.1 (which six-month period may be extended for such periods of time as Landlord is prevented from proceeding with or completing such restoration due to Force Majeure, but in no event for more than an additional three months), Tenant shall have the right to terminate this Lease by giving notice to Landlord thereof within thirty (30) days after the expiration of such period (as so extended) provided that such restoration is not completed within such period. This Lease shall cease and come to an end without further liability or obligation on the part of either party thirty (30) days after such giving of notice by Tenant unless, within such thirty-day period, Landlord substantially completes such restoration. Such right of termination shall be Tenant's sole and exclusive remedy at law or in equity for Landlord's failure so to complete such restoration, and time shall be of the essence with respect thereto.
