Common use of Tenant’s Termination Option Clause in Contracts

Tenant’s Termination Option. Tenant shall have the option to cancel and terminate this lease effective as of the five (5) year ten (10) month anniversary of the Commencement Date (such effective date being hereinafter referred to as the “Early Termination Date”) by written notice (the “Early Termination Notice”) delivered to Landlord no later than twelve (12) months prior to the Early Termination Date, time being of the essence. In connection with Tenant’s exercise of the termination option set forth herein, Tenant shall pay to Landlord an amount (the “Termination Payment”) equal to (a) two (2) months of the fixed annual rent for the entire demised premises at the escalated rate effective as of the Early Termination Date plus (b) the amount of the then unamortized cost (based upon amortizing such cost over the originally scheduled term of this lease) of (i) the actual, out of pocket costs incurred by Landlord in connection with the performance of Landlord’s Work, (ii) the brokerage commission paid in connection with this Agreement and (iii) the value of the free rent provided to Tenant pursuant to this Agreement (i.e., $941,911.33) (the costs set forth in (i) through (iii), collectively, the “Costs”), plus eight (8%) percent per annum on the unamortized Costs for the period from the Commencement Date through and including the Early Termination Date. The entire Termination Payment shall be paid by Tenant to Landlord within ten (10) business days, time being of the essence, after Landlord notifies Tenant, in writing, of the amount of the Termination Payment, which Landlord agrees to provide as soon as reasonably practicable following its receipt of the Early Termination Notice. Within ninety (90) days of Landlord’s receipt of the Early Termination Notice, Landlord shall deliver to Tenant a statement of the Costs. Upon timely delivery of the Early Termination Notice and the Termination Payment, this lease, as modified hereby, will expire on the Early Termination Date as if such date were the Expiration Date and Tenant shall vacate the demised premises on or before the Early Termination Date, leaving the same in the condition otherwise required upon the expiration or sooner termination of this lease. The effectiveness of Tenant’s exercise of the foregoing option is expressly conditioned upon (1) there not being any uncured monetary or material non-monetary default by Tenant under this lease (a) beyond all applicable notice, grace and/or cure periods at the time of the exercise of said option and (b) as of the Early Termination Date and (2) Landlord’s receipt of the entire Termination Payment at the time set forth above. The Termination Payment shall be paid by Tenant and received by Landlord as consideration for the privilege of termination when, as and if Tenant exercises the said option to terminate this lease.

Tenant’s Termination Option. As of the Effective Date hereof Article IIIB of the Lease (“Tenant’s Termination Option” for the Original Premises) shall be modified so as to add the following thereto for the Expansion Premises: Tenant’s Expansion Premises Termination Option: Tenant shall additionally have the option to cancel terminate the Lease with respect to the Expansion Premises only at any time after September 30, 2011 (the “Cancellation Effective Date”) by providing Landlord with (i) written notice of such option election (the “Cancellation Notice”) and terminate (ii) written evidence and supporting documentation demonstrating that Tenant’s customer known as the Terrorist Screening Center (TSC) (as it is currently named on the Effective Date hereof) or its successor thereto (the “Customer”) has commenced business operations from a leased or government owned building in Virginia and said customer has requested Tenant to take occupancy in the same building or in a building in material closer proximity to the leased or government owned building in Virginia. Such Cancellation Notice shall be effective only if it is delivered to Landlord on the date that is nine (9) months prior to the Cancellation Effective Date (the “Cancellation Notice Deadline”) and with the required documentation and supporting evidence demonstrating that the Customer has commenced business operations from a leased or government owned building in Virginia and said customer has requested Tenant to take occupancy in the same building or in a building in material closer proximity to the leased or government owned building in Virginia. As a condition to any cancellation of the Lease with respect to the Expansion Premises by Tenant pursuant to the provisions of this lease effective Paragraph 6, Tenant must pay to Landlord a cancellation fee equal to the unamortized portion, determined as of the five Cancellation Effective Date in the manner hereinafter provided, of Landlord’s upfront costs (5“Landlord’s Investment”) year ten incurred by Landlord in consummating this Third Amendment including brokerage commissions (10) month anniversary calculated as 2% of the Commencement Date aggregate Base Rent for the Expansion Premises), legal fees related to negotiating this Third Amendment to Lease, and the TI Allowance (defined below). For purposes of this Xxxxxxxxx 0, Xxxxxxxx’s Investment shall be reduced monthly, with each timely payment by Tenant of a full monthly installment of Base Rent under this Lease, by the amount which the principal of a loan equal to the Landlord’s Investment funded in full as of October 1, 2008 would be amortized and repaid, as of the date of each such monthly installment, together with accrued but unpaid interest thereon at the rate of nine percent (9%) per annum, in ninety-two (92) equal monthly installments of principal and interest, assuming timely installment payments of principal and interest but without prepayment, commencing on October 1, 2008 and continuing on the first day of each of the succeeding ninety-one (91) calendar months (such effective date unamortized portion of Landlord’s Investment being hereinafter referred to as the “Early Termination DateCancellation Fee”) ), which Cancellation Fee shall be increased to reflect any expansion of the Premises by written notice (the “Early Termination Notice”) delivered to Landlord no later than twelve (12) months prior an amount equal to the Early Termination Date, time being unamortized portion of the essence. In connection with Tenant’s exercise of the termination option set forth herein, Tenant shall pay to Landlord an amount (the “Termination Payment”) equal to (a) two (2) months of the fixed annual rent for the entire demised premises at the escalated rate effective as of the Early Termination Date plus (b) the amount of the then unamortized cost (based upon amortizing such cost over the originally scheduled term of this lease) of (i) the actual, out of pocket any costs and expenses incurred by Landlord in connection consummating any such expansion, including, without limitation any improvement allowances, brokerage commissions and legal fees attributable to any such expansion. If Tenant validly and timely exercises this Cancellation Option, Tenant shall nonetheless continue to be liable for its obligations accruing under this Lease with respect to the performance of Landlord’s Work, (ii) the brokerage commission paid in connection with this Agreement and (iii) the value of the free rent provided Premises up to Tenant pursuant to this Agreement (i.e., $941,911.33) (the costs set forth in (i) through (iii), collectively, the “Costs”), plus eight (8%) percent per annum on the unamortized Costs for the period from the Commencement Date through and including the Early Termination Cancellation Effective Date. The entire Termination Payment , including, without limitation, additional rental, and all such obligations having accrued prior to the Cancellation Effective Date shall be paid by Tenant to Landlord within ten (10) business days, time being survive the termination of the essence, after Landlord notifies Tenant, in writing, of the amount of the Termination Payment, which Landlord agrees to provide as soon as reasonably practicable following its receipt of the Early Termination Notice. Within ninety (90) days of Landlord’s receipt of the Early Termination Notice, Landlord shall deliver to Tenant a statement of the Costs. Upon timely delivery of the Early Termination Notice and the Termination Payment, this leaseLease, as modified amended hereby, will expire on the Early Termination Date as if such date were the Expiration Date and Tenant shall vacate the demised premises on or before the Early Termination Date, leaving the same in the condition otherwise required upon the expiration or sooner termination of this lease. The effectiveness of Tenant’s exercise of the foregoing option is expressly conditioned upon (1) there not being any uncured monetary or material non-monetary default by Tenant under this lease (a) beyond all applicable notice, grace and/or cure periods at the time of the exercise of said option and (b) as of the Early Termination Date and (2) Landlord’s receipt of the entire Termination Payment at the time set forth above. The Termination Payment shall be paid by Tenant and received by Landlord as consideration for the privilege of termination when, as and if Tenant exercises the said option to terminate this leaseExpansion Premises.

Tenant’s Termination Option. 6.20.1 Provided that (a) no Event of Default exists at the time Tenant delivers a Termination Notice (hereinafter defined) to Landlord, and (b) no uncured Event of Default exists on the Termination Date (hereinafter defined), Tenant shall have the one time option to cancel and terminate this lease Lease (the “Termination Option”) effective as of the five (5) year ten (10) month anniversary last day of the thirty-sixth (36th) full calendar month following the Rent Commencement Date (such effective date being hereinafter referred to as the “Early Termination Date”) ), subject to the terms and conditions set forth in this paragraph 6.20. Tenant may exercise its Termination Option solely by written notice (delivering to Landlord, on or before the “Early Termination Notice”) delivered to Landlord no later than date which is at least twelve (12) months prior to the Early Termination Date, time being irrevocable written notice of termination {the essence“Termination Notice”) on or before the date. In connection with Tenant’s order to exercise of the termination option set forth hereinTermination Option, Tenant shall must pay to Landlord an amount (Landlord, at the time Tenant delivers the Termination Notice to Landlord, a termination payment {the “Termination Payment”) equal to sum of (ai) two (2) months monthly installments of the fixed annual rent for the entire demised premises at the escalated rate effective Base Rent payable by Tenant as of the Early date on which Tenant delivers the Termination Date Notice to Landlord, plus (bii) the amount unamortized balance, as of the then unamortized cost Termination Date, of all Lease Costs (based upon amortizing such cost over hereinafter defined). As used in this Lease, the originally scheduled term of this lease“Lease Costs” means the sum of: (1) of (i) the actual, out of pocket costs all brokerage commissions incurred by Landlord in connection with this Lease; (2) the performance Tenant Improvement Allowance; (3) the amount of the Rent Abatement Amount (hereinafter defined); and (4) Landlord’s Work, (ii) the brokerage commission paid documented and reasonable attorneys’ fees in connection with the negotiation and drafting of this Agreement and Lease (iii) not to exceed $15,000.00). As used herein, the term “Rent Abatement Amount” means the sum of the aggregate value of all unpaid Base Rent which was abated by Landlord during the free rent provided to period between the Commencement Date and the Rent Commencement Date based on the amount of Base Rent payable by Tenant pursuant to this Agreement (i.e.as of the Rent Commencement Date. The amortization of the Lease Costs shall be effected as though the total of such costs was the principal amount of a promissory note, $941,911.33) (bearing interest at the costs set forth in (i) through (iii), collectively, the “Costs”), plus rate of eight percent (8%) percent per annum annum, where the principal (and all interest thereon) shall be repaid (commencing on the unamortized Costs for Commencement Date) in equal monthly installments of principal and interest in such amount as to cause the period from principal balance to be reduced to zero as of the Commencement Date last day of the sixty-third (63rd) full calendar month of the Lease Term. Tenant shall pay to Landlord the Termination Payment simultaneously with Tenant’s delivery of the Termination Notice. The Termination Payment shall be in addition to, and not in lieu of, the payments of Base Rent, Additional Rent and other charges accruing hereunder through and including the Early Termination Date. The entire Termination Payment Option may not be exercised by any sublessee of all or any portion of the Premises. Time shall be paid by Tenant of the essence with respect to Tenant’s delivery to Landlord within ten (10) business days, time being of the essence, after Landlord notifies Tenant, in writing, of the amount of the Termination Payment, which Landlord agrees to provide as soon as reasonably practicable following its receipt of the Early Termination Notice. Within ninety (90) days of Landlord’s receipt of the Early Termination Notice, Landlord shall deliver to Tenant a statement of the Costs. Upon timely delivery of the Early Termination Notice and the Termination Payment, this lease, as modified hereby, will expire on . In the Early event Tenant fails to deliver the Termination Date as if such date were Notice or fails to pay the Expiration Date and Tenant shall vacate the demised premises on or before the Early Termination Date, leaving the same in the condition otherwise required upon the expiration or sooner termination of this lease. The effectiveness of Tenant’s exercise of the foregoing option is expressly conditioned upon (1) there not being any uncured monetary or material non-monetary default by Tenant under this lease (a) beyond all applicable notice, grace and/or cure periods at Payment within the time of the exercise of said option and (b) as of the Early Termination Date and (2) Landlord’s receipt of the entire Termination Payment at the time period set forth above. The , then, at Landlord’s sole option, the Termination Payment Notice may be deemed void and of no further force or effect, and the Lease shall be paid by Tenant continue in full force and received by Landlord as consideration for the privilege of termination when, as and if Tenant exercises the said option to terminate this leaseeffect.

Tenant’s Termination Option. A. On the conditions (which conditions Landlord may waive by written notice to Tenant at any time) that Tenant is not in default of its covenants and obligations under the Lease, both at the time that Tenant gives Tenant’s Termination Notice, as hereinafter defined, and as of the Effective Termination Date, as hereinafter defined, then Tenant shall have the option right (“Termination Right”) to cancel and terminate this lease the Term of the Lease effective as of the five December 31, 2014 (5) year ten (10) month anniversary of the Commencement Date (such effective date being hereinafter referred to as the “Early Effective Termination Date”) by written giving Landlord notice on or before December 31, 2013 (the “Early Tenant’s Termination Notice”) delivered ), and by paying to Landlord, at the time that Tenant gives Tenant’s Termination Notice, the Termination Fee, as hereinafter defined. B. If Tenant timely and properly exercises its Termination Right and timely pays to Landlord no later than twelve (12) months prior to the Early Termination Fee, then the Term of the Lease shall terminate as of the Effective Termination Date, time being and Yearly Rent and other charges shall be apportioned as of said Effective Termination Date. C. For the essence. In connection with Tenant’s exercise of the termination option set forth hereinpurposes hereof, Tenant shall pay to Landlord an amount (the “Termination Payment”) Fee” shall be equal to the sum of: (i) the Unamortized Portion, as hereinafter defined, of Landlord’s Transaction Costs, as hereinafter defined, plus (ii) $405,285.66. The “Unamortized Portion” shall be defined as the amount of principal which would remain unpaid as of the Effective Termination Date with respect to a loan in an original principal amount equal to Landlord’s Transaction Costs and which is repaid in equal monthly payments of principal and interest on a direct reduction basis over one hundred thirty-six (136) months commencing on the Commencement Date with interest at the rate of nine percent (9%) per annum. For the purposes hereof, “Landlord’s Transaction Costs” shall be equal to the sum of (a) two (2) months the amount of the fixed annual rent for the entire demised premises at the escalated rate effective as of the Early Termination Date Landlord’s Contribution actually paid by Landlord, plus (b) the amount of the then unamortized cost Landlord’s Security System Contribution actually paid by Landlord, plus (based upon amortizing such cost over the originally scheduled term of this lease) of (ic) the actualbrokerage commissions paid by Landlord to Xxxxx Xxxx LaSalle Brokerage, out of pocket costs Inc. and Xxxxxxx & Xxxxxxx Colliers in connection with this Lease, plus (d) all legal fees incurred by Landlord in connection with the performance negotiation of the Lease not exceeding Forty-Two Thousand and 00/100 Dollars ($42,000.00) (but not any amendments or other later documentation). Landlord shall, upon written request of Tenant, promptly after Landlord’s WorkTransaction Costs have been determined, (ii) provide to Tenant verification of such costs. D. In the brokerage commission paid in connection with this Agreement and (iii) event that Tenant fails timely to give Tenant’s Termination Notice or to pay the value Termination Fee, Tenant shall have no right to terminate the Term of the free rent provided to Tenant Lease, pursuant to this Agreement (i.e., $941,911.33) (the costs set forth in (i) through (iii), collectively, the “Costs”), plus eight (8%) percent per annum on the unamortized Costs for the period from the Commencement Date through and including the Early Termination Date. The entire Termination Payment shall be paid by Tenant to Landlord within ten (10) business daysSection 29.18, time being of the essence, after Landlord notifies Tenant, in writing, of the amount of the Termination Payment, which Landlord agrees to provide as soon as reasonably practicable following its receipt of the Early Termination Notice. Within ninety (90) days of Landlord’s receipt of the Early Termination Notice, Landlord shall deliver to Tenant a statement of the Costs. Upon timely delivery of the Early Termination Notice and the Termination Payment, this lease, as modified hereby, will expire on the Early Termination Date as if such date were the Expiration Date and Tenant shall vacate the demised premises on or before the Early Termination Date, leaving the same in the condition otherwise required upon the expiration or sooner termination of this lease. The effectiveness essence of Tenant’s exercise of the foregoing option is expressly conditioned upon (1) there not being any uncured monetary or material non-monetary default by Tenant under this lease (a) beyond all applicable notice, grace and/or cure periods at the time of the exercise of said option and (b) as of the Early Termination Date and (2) Landlord’s receipt of the entire Termination Payment at the time set forth above. The Termination Payment shall be paid by Tenant and received by Landlord as consideration for the privilege of termination when, as and if Tenant exercises the said option to terminate this leaseobligations hereunder.

Tenant’s Termination Option. Landlord and Tenant hereby expressly acknowledge and agree that (i) Tenant shall have retain the option right to cancel and terminate the Lease with respect to the entire Premises (including the Expansion Space) pursuant to the terms of Section 33 of the Original Lease (captioned, “Tenant’s Termination Option”), as amended by this lease effective Xxxxxxxxx 00, (xx) accordingly, to account for the Expansion Space, the Termination Payment shall be increased to include an amount equal to the sum of (a) the then-unamortized costs (as of the five (5) year ten (10) month anniversary of the Commencement Date (such effective date being hereinafter referred to as the “Early Termination Date”) by written notice (the “Early Termination Notice”) delivered to Landlord no later than twelve (12) months prior to the Early Termination Date, time being of the essence. In connection with Tenant’s exercise of the termination option set forth herein, Tenant shall pay to Landlord an amount (the “Termination Payment”) equal to (a) two (2) months of the fixed annual rent for the entire demised premises at the escalated rate effective as of the Early Termination Date plus (b) the amount of the then unamortized cost (based upon amortizing such cost over the originally scheduled term of this lease) of (i) the actual, out of pocket costs incurred by Landlord in connection with this Second Amendment, which costs shall include all leasing commissions paid by Landlord, the performance amount of the Improvement Allowance set forth in the Work Agreement attached to this Second Amendment, the amount of ES Annual Base Rent abated pursuant to the terms of Paragraph 5(B), above, and Landlord’s Work's reasonable legal fees (collectively, the "ES Leasing Costs"), plus (iib) two (2) installments of ES Monthly Base Rent payable by Tenant as of the brokerage commission paid in connection with this Agreement and Termination Date, (iii) the value amortization of the free rent provided ES Leasing Costs shall be effected as though the total of such costs was the principal amount of a promissory note, bearing interest at the rate of six percent (6%) per annum, where the principal (and all interest thereon) shall be repaid in equal monthly installments of principal and interest, commencing on the Expansion Space Commencement Date, in such amount as to Tenant pursuant cause the principal balance to be reduced to zero as of the Lease Expiration Date, (iv) the ES Leasing Cost shall be deemed to be “Leasing Costs” under the Original Lease, as amended and (v) accordingly, the Exhibit G attached to this Agreement (i.e.Second Amendment shall hereby be deemed to have been attached to the First Amendment and to the Original Lease as Exhibit G thereto, $941,911.33) (the costs set which exhibit sets forth in (i) through (iii), collectively, the “Costs”), plus eight (8%) percent per annum on the unamortized Costs for the period from the Commencement Date through and including the Early Termination Date. The entire Termination Payment shall be paid by Tenant to Landlord within ten (10) business days, time being a summary of all of the essence, after Landlord notifies Tenant, in writing, Leasing Costs (inclusive of the amount ES Leasing Costs) and the calculation of the Termination Payment, which Landlord agrees to provide as soon as reasonably practicable following its receipt of the Early Termination Notice. Within ninety (90) days of Landlord’s receipt of the Early Termination Notice, Landlord shall deliver to Tenant a statement of the Costs. Upon timely delivery of the Early Termination Notice and the Termination Payment, this lease, as modified hereby, will expire on the Early Termination Date as if such date were the Expiration Date and Tenant shall vacate the demised premises on or before the Early Termination Date, leaving the same in the condition otherwise required upon the expiration or sooner termination of this lease. The effectiveness of Tenant’s exercise of the foregoing option is expressly conditioned upon (1) there not being any uncured monetary or material non-monetary default by Tenant under this lease (a) beyond all applicable notice, grace and/or cure periods at the time of the exercise of said option and (b) as of the Early Termination Date and (2) Landlord’s receipt of the entire Termination Payment at the time set forth above. The Termination Payment shall be paid by Tenant and received by Landlord as consideration for the privilege of termination when, as and if Tenant exercises the said option to terminate this lease.