Common use of Terminate Lease Clause in Contracts

Terminate Lease. Terminate this Lease and end the Term hereof by giving Lessee notice of such termination, in which event Lessor shall be entitled to recover from Lessee at the time of such termination the present value of the excess, if any, of the amount of Base Rent reserved in this Lease for the then balance of the Term hereof over the then reasonable rental value of the Premises for the same period, both discounted to present value at the rate of five percent (5%) per annum. It is understood and agreed that the “reasonable rental value” shall be the amount of rental which Lessor may be expected to obtain as rent for the remaining balance of the initial Term or Renewal Term, whichever is applicable; or

Terminate Lease. Terminate this Lease and end the Term term hereof by giving Lessee to Tenant written notice of such termination, in which event Lessor Landlord shall be entitled to recover from Lessee Tenant at the time of such termination the present value of the excess, if any, of the amount of Base Rent rent reserved in this Lease for the then balance of the Term term hereof over the then reasonable rental value of the Premises for the same period, both discounted to . The present value shall be determined by discounting all future excess rent amounts at the a rate of five eight percent (58%) per annum. It is understood and agreed that the “reasonable rental value” shall be the amount of rental which Lessor may be expected to Landlord can obtain as rent for the remaining balance of the initial Term term or Renewal Termrenewal term, whichever is applicable; or