Termination by the Lessee. Notwithstanding anything contained in this Lease or under the Law, if it becomes impossible or unprofitable for the Lessee to continue running the business on the Lease Premises, the Lessee may terminate the Lease and vacate the Lease Premises after giving a ninety (90) days’ notice to the Lessor, and in such a case:- The Lessee shall pay all rent arrears if any up to the expiry of the termination notice; The Lessee shall be at liberty to remove all movable assets, equipment and machinery on the Premises on or before the expiry of the termination notice.
Termination by the Lessee. In case that the Lessor can neither complete the construction hereto nor anticipate that the construction shall be completed within time prescribed hereunder or the Lessor fails to complete the construction, caused by force majeure, or fail to register the lease, the Lessee shall be entitled to forthwith terminate this Agreement and demand the Lessor to return all payments received from the Lessee under this Agreement plus the interest at a rate of 7.5% per year calculated from the date the Lessor receives the payments until the date of the full payment of the refund to the Lessee.
Termination by the Lessee. (1) The Lessee may terminate the Agreement by submitting a notice of termination to the Lessor not later than thirty (30) days prior to such termination.
(2) At the time of vacating the Property, the rent or maintenance expenses shall be prorated on the basis of thirty (30) days per month.
(3) On vacating the Property, the Lessee shall inform the Lessor of the date and time of the check-out inspection not later than five (5) days prior to the termination of this Agreement.
Termination by the Lessee a. The LESSEE may terminate this Lease Deed by giving a 3 months written notice to the LESSOR after the expiry of first 36 months of this Xxxxx Xxxx i.e 15th June, 2007. In the eventuality of the LESSEE terminating the Lease Deed prior to the completion of the Lock in Period i.e. till 14th June, 2009 (inclusive of the 3 months notice period), then the LESSEE will continue to pay the monthly rent till the expiry of the Lock in period. In no event shall the LESSEE be liable to pay rent beyond the Lock in Period in the event of an early termination. The LESSEE shall be liable to pay rent beyond the lock in period if XXXXXX is not able to handover the physical vacant possession of DEMISED PREMISES after the expiry of thirty six months as per the terms of this deed.
b. The Lessee shall also have the option to terminate the Lease, in the event there occurs a Force Majeure event in which case the provisions of clause 20 shall apply. If the Force Majeure situation(s) continues beyond 15 days, the Lessee shall have option either to terminate this Lease by providing a 30 (thirty) days notice in writing to the Lessor, or, continue to pay the full rent to the Lessor. In case of happening of Force Majeure Event, lock-in-period shall not apply.
c. In case of a material breach of any terms of this Lease Deed by the Lessor, the Lessee shall give a notice to the Lessor of such material breach and if such material breach is not rectified by the Lessor within 15 days of serving the notice, the Lessee shall have an option to terminate this Lease Deed by giving 7 days notice to the Lessor in writing. In case Lessee terminates the Lease Deed under clause 6.1 (c), the Lock-in-Period shall not apply and no rent shall be payable for the unexpired period of Lock-in-Period.
Termination by the Lessee. Notwithstanding Section 4(d), the Lessee may terminate this Agreement as to any Container of a particular size and type at the end of the Stated Term thereof and at any time thereafter, upon the election of the Lessee, at the Lessee's sole and absolute discretion, if Variable Rent specifically allocable to the Set Containers of that size and type, calculated in a manner analogous to Section 6(c), for the most recent calendar quarter that can be reasonably calculated by the Lessee, is less than fourteen percent (14%) of the aggregate Container Cost of Containers of that size and type then under lease hereunder multiplied by a fraction the numerator of which is the number of days in that quarter and the denominator of which is 365.
Termination by the Lessee. Upon the Lessor committing any Event of Default the Lessee may by giving written notice to the Lessor terminate this Lease.
Termination by the Lessee. (a) If any one or more of the following events shall occur:
(1) If the Lessee shall be prevented from operating its air transportation system to and from the Airport by reason of its inability to use a substantial part of all of the Runways and Taxiways,
(i) for a period of longer than thirty (30) consecutive days, resulting from any condition of the Airport not due to the fault of the Lessee; or
(ii) for a period of longer than ninety (90) consecutive days, resulting from a permanent injunction issued by any court of competent jurisdiction; or
(iii) for a period of longer than ninety (90) consecutive days, resulting from any order, rule or regulation of the Federal Aviation Administration, or other governmental agency having jurisdiction over the operations of the Lessee with which the Lessee is unable to comply at reasonable cost or expense; or
(2) The Port Authority shall fail to perform any of its obligations under this Lease within twenty (20) days after receipt of notice of default thereunder from the Lessee (except where fulfillment of its obligation requires activity over a period of time and the Port Authority shall commence to perform whatever may be required for fulfillment within twenty (20) days after the receipt of notice and continues such performance without interruption, except for causes beyond its control); then upon the occurrence of any such event or at any time thereafter during the continuance of the condition, the Lessee may by twenty (20) days' notice terminate the letting, such termination to be effective upon the date set forth in such notice and to have the same effect as if the term of the letting had on that date expired. No waiver by the Lessee of any default on the part of the Port Authority in performance of any of the terms, covenants or conditions hereof to be performed, kept or observed by the Port Authority shall be or be construed to be a waiver by the Lessee of any other or subsequent default in performance of any of the said terms, covenants and conditions.
(b) The payment of rentals by the Lessee for the period or periods after the Lessee shall have a right to terminate under this Section but before any such default of the Port Authority has been cured, shall not be or be construed to be a waiver by the Lessee of any such right of termination.
(c) The rights of termination described above shall be in addition to any other rights of termination provided in this Agreement and in addition to any rights and remedies tha...
Termination by the Lessee. The Lessee shall be entitled to terminate this Lease Deed without assigning any reason by providing notice of 3 (three) months to the Lessor after the Lock-in Period expires.
Termination by the Lessee. Notwithstanding anything contained in this Lease or under the Law, if it becomes impossible or unprofitable for the Lessee to continue running the business on the Lease Premises, the Lessee may terminate the Lease and vacate the Lease Premises after giving a ninety (90) days’ notice to the Lessor, and in such a case:- The Lessee shall pay all rent arrears if any up to the expiry of the termination notice; The Lessee shall be at liberty to remove all movable assets, equipment and machinery on the Premises on or before the expiry of the termination notice; and The Lessee shall cede all his rights, title or interests on any buildings, and structures erected on the Premises to the Lessor and the Lessor shall assume ownership at such cost as shall be determined by a registered Valuer.
Termination by the Lessee i. If the Lessor commits breach of any of the terms and conditions of this Lease Deed, the Lessee shall issue Notice to Remedy to the Lessor calling upon the Lessor to rectify the breach within 30 (thirty) days therefrom, on expiry whereof if the breach is not remedied, the Lessee shall, notwithstanding the Lock-in Period have the right to terminate the Lease by issuance of Notice of Termination to the Lessor stating that the lease shall stand terminated on expiry of a period of 30 (thirty) days there from. It is clarified that if the Lessee is constrained to terminate the Lease in accordance with the terms of this Deed during the Lock-in Period, due to a breach by the Lessor of the terms and conditions of the Lease, the Lessee will not be liable to pay the Lessor the Rent for the unexpired portion of the Lock-in Period.
ii. The Lessee shall be entitled to terminate the lease, without assigning any reasons, by providing to the Lessor, 6 (Six) months written notice which may be served at any time after the expiry of Lock-in Period.
