Common use of Termination of Existing Lease Clause in Contracts

Termination of Existing Lease. The Parties acknowledge that the Leased Premises is currently leased to a tenant (“Existing Lease”) and Landlord is in the process of entering into a termination agreement with the existing Tenant to terminate the Existing Lease. Notwithstanding the provisions of Section 37, Tenant shall only be required to post Security in the amount of $100,000 until Landlord sends notice to Tenant that the Exising Lease has been terminated. The remainder of the Security shall be forwarded to Landlord within five (5) business days after Tenant’s receipt of notice from Landlord that the Existing Lease has been terminated. If Landlord has not provided notice to Tenant by September 10, 2018 that the Existing Lease has been terminated, then thereafter, Tenant shall have the right to terminate this Lease. If Tenant does not elect to terminate the Lease, then the Plans Delivery Date shall be extended one day for each day after September 10, 2018 until Tenant receives notice that the Existing Lease has been terminated. If the Existing Lease has not been terminated by November 1, 2018 (“Outside Termination Date”), then Landlord shall have the right to terminate the Lease. Landlord represents and warrants that prior to the Outside Termination Date, it shall not show the Premises to any other potential tenant or any broker or negotiate a lease for any portion of the Leased Premises with another potential tenant (“Landlord Covenant”). If Landlord violates the Landlord Covenant then Tenant shall be entitled to damages in the amount of $500,000. If the Lease is terminated by either party pursuant to this Section 44, then the Security paid to Lessor shall be refunded to Tenant.

Termination of Existing Lease. The Parties parties hereby acknowledge that Tenant is presently in occupancy of an existing building at 000 Xxxxxxxxxxx Xxxx in a separate portion of the Leased Premises is currently leased Project (the “Existing Premises”) pursuant to a tenant that certain Lease (the “Existing Lease”) dated November 1, 1993 by and Landlord is between The Six-Pac, A Joint Venture, as landlord, and Cypress Coast Bank, as tenant. Tenant may continue in the process of entering into a termination agreement with the existing Tenant to terminate the Existing Lease. Notwithstanding the provisions of Section 37, Tenant shall only be required to post Security in the amount of $100,000 until Landlord sends notice to Tenant that the Exising Lease has been terminated. The remainder of the Security shall be forwarded to Landlord within five (5) business days after Tenant’s receipt of notice from Landlord that occupancy under the Existing Lease has been terminatedso long as the same is permitted by applicable governmental authorities during the performance of Landlord’s Work. If Landlord has not provided notice In addition, the parties hereby agree that, in consideration of Tenant’s agreement to Tenant by September 10perform its obligations under this Lease (including, 2018 that the Existing Lease has been terminatedwithout limitation, then thereafter, Tenant shall have the right Tenant’s obligations for performance of Tenant’s Work pursuant to terminate this Lease. If Tenant does not elect to terminate the Lease, then the Plans Delivery Date shall be extended one day for each day after September 10, 2018 until Tenant receives notice that the Existing Lease has been terminated. If the Existing Lease has not been terminated by November 1, 2018 (“Outside Termination Date”), then Landlord shall have the right to terminate the Lease. Landlord represents and warrants that prior to the Outside Termination Date, it shall not show the Premises to any other potential tenant or any broker or negotiate a lease for any portion of the Leased Premises with another potential tenant (“Landlord Covenant”Exhibit C attached hereto). If Landlord violates the Landlord Covenant then Tenant shall be entitled to damages a conditional abatement of its obligation for payment of base rent under the Existing Lease (provided that nothing contained herein shall entitle Tenant to any abatement of Tenant’s obligations under the Existing Lease for payment of additional rent, amounts with respect to taxes, insurance, utilities, maintenance, other reimbursable costs or other charges, as applicable under the Existing Lease), accruing with respect to the period following Landlord’s acquisition of title to the Project until the Commencement Date not to exceed a maximum aggregate abatement of Fifty Thousand Dollars ($50,000.00) (after which maximum aggregate abatement, if applicable, Tenant shall resume payment of base rent under the Existing Lease); provided that if this Lease is hereafter terminated due to Tenant’s default hereunder, then, in addition to all other rights and remedies of Landlord as set forth in this Lease, the entire amount of rent so conditionally abated shall be immediately due and payable from Tenant to Landlord. Tenant shall have sixty (60) days following the Substantial Completion of the Premises within which to complete its relocation from the Existing Premises to the Premises (including, without limitation, the removal of all items of Tenant’s personal property from the Existing Premises) and within which to vacate and surrender the Existing Premises. Upon the expiration of such sixty (60) day period, the Existing Lease shall terminate and neither party thereto shall have any further liability or obligation thereunder (except for liabilities and obligations accruing under the Existing Lease through to such termination date and liabilities and obligations under the Existing Lease which survive the early termination of such Existing Lease). If Tenant fails to so vacate and surrender the Existing Premises on or before the expiration of such sixty (60) day period, Tenant’s continued occupancy of such Existing Premises shall constitute a material default by Tenant under the Existing Lease and this Lease which shall not be subject to any period for cure. Further, Tenant agrees, as a material consideration to Landlord’s agreement to enter into this Lease, that notwithstanding anything to the contrary contained in the Existing Lease, that any such occupancy of the Existing Premises following the expiration of such sixty (60) day period shall constitute a holding over creating a tenancy at sufferance, and during the period of such holding over, Tenant shall pay as base rent to Landlord under the Existing Lease an amount equal to five hundred percent (500%)‘of the base rent specified in the Existing Lease as being in effect under the Existing Lease prior to the early termination of $500,000. If the Existing Lease is terminated by either party pursuant (meaning such base rent as would have been due under the Existing Lease prior to this Section 44, then such early termination but for the Security paid to Lessor shall be refunded to Tenantconditional abatement provided for herein).

Termination of Existing Lease. The Parties acknowledge that Tenant is presently leasing and occupying ----------------------------- the Leased Existing Premises is currently leased to a tenant (“Existing Lease”) and Landlord is in the process of entering into a termination agreement with the existing Tenant to terminate under the Existing Lease. Notwithstanding The Existing Lease shall terminate on the provisions Commencement Date of Section 37this Lease ("Existing Lease Termination Date"), Tenant shall only be required to post Security in as if such date were the amount of $100,000 until Landlord sends notice to Tenant that the Exising Lease has been terminated. The remainder stated expiration date of the Security term of the Existing Lease, including all options to lease additional space or purchase the Real Estate shall be forwarded to Landlord within five (5) business days after Tenant’s receipt of notice from Landlord that terminate on the Existing Lease has been terminated. If Termination Date; provided, however, Tenant and Landlord has shall not provided notice to Tenant by September 10, 2018 that be released from liability under the Existing Lease has been terminated, then thereafter, Tenant shall have the right accruing prior to terminate this termination of such Existing Lease. If A. 00/xx/ Floor. The 23/rd/ Floor was included in the Premises under the ------------ Twelfth Amendment for a term ending March 31, 2005. Pursuant to such Twelfth Amendment, Landlord was obligated to contribute certain sums toward work being performed by Tenant does not elect on the 23/rd/ Floor. Landlord shall contribute (i) the amounts required under the Twelfth Amendment (being $166,800.60) plus (ii) such additional amounts (being $596,300) as are required to terminate equal the Leasetotal sum of $763,140, then less (iii) any amounts previously paid by Landlord under the Plans Delivery Date Twelfth Amendment, provided that Tenant complies with the conditions and requirements set forth in Section 49 above necessary to receive an Allowance. The term of lease of the 23/rd/ floor is hereby extended to be coterminous with the Term; Base Rent for the 23/rd/ floor shall be extended one day payable at the applicable rate shown in Exhibit H on and after the Commencement Date. Notwithstanding the date for each day after September 10commencement of Rent for the 23/rd/ Floor under the Twelfth Amendment, 2018 until Tenant receives notice that Rent shall commence on the Existing Lease has been terminated. If the Existing Lease has not been terminated by November 1, 2018 (“Outside Termination Date”), then Landlord shall have the right to terminate the Lease. Landlord represents and warrants that prior to the Outside Termination Date, it shall not show the Premises to any other potential tenant or any broker or negotiate a lease for any portion of the Leased Premises with another potential tenant (“Landlord Covenant”). If Landlord violates the Landlord Covenant then Tenant shall be entitled to damages in the amount of $500,000. If the Lease is terminated by either party pursuant to this Section 44, then the Security paid to Lessor shall be refunded to Tenant.date shown on Exhibit H.

Termination of Existing Lease. The Parties acknowledge Tenant currently occupies the Premises pursuant to that certain Office Lease dated as of April 1, 1996, as amended by that certain Amendment to Office Lease dated as of February 10, 1997, that certain Second Amendment to Office Lease dated as of July 11, 1997, that certain Third Amendment to Office Lease dated as of August 17, 1999, that certain Amendment to Lease dated as of August 9, 2002, that certain Fourth Amendment to Office Lease (Amending the Leased Premises is currently leased Seventh Floor Lease) and Second Amendment to a tenant Lease (Amending the Fifth Floor Lease) dated as of March 19, 2003, that certain Fifth Amendment to Office Lease dated as of October 27, 2003, that certain Sixth Amendment to Office Lease dated as of November 18, 2004, and that certain Seventh Amendment to Office Lease dated as of April ___, 2006, by and between Landlord and Tenant (collectively, as amended, the “Existing Lease”) ). Prior to the Lease Commencement Date, Tenant shall continue to occupy the Premises and Landlord is in perform all its obligations under each of the process terms and conditions of entering into a termination agreement with the existing Tenant to terminate the Existing Lease. Notwithstanding the provisions of Section 37, Tenant shall only be required to post Security in the amount of $100,000 until Landlord sends notice to Tenant it being acknowledged that the Exising term thereof expires January 31, 2008. Upon the Lease has been terminated. The remainder of the Security shall be forwarded to Landlord within five (5) business days after Tenant’s receipt of notice from Landlord that Commencement Date, the Existing Lease has been terminated. If Landlord has not provided notice to shall terminate for all purposes, except that Tenant by September 10, 2018 that shall be responsible for any liabilities or obligations which specifically survive the termination of the Existing Lease has been terminated, then thereafter, Tenant in accordance with its terms. This Lease shall have the right govern with respect to terminate this Lease. If Tenant does not elect to terminate the Lease, then the Plans Delivery Date shall be extended one day for each day after September 10, 2018 until Tenant receives notice that the Existing Lease has been terminated. If the Existing Lease has not been terminated by November 1, 2018 (“Outside Termination Date”), then Landlord shall have the right to terminate the Lease. Landlord represents and warrants that prior to the Outside Termination Date, it shall not show Tenant’s occupancy of the Premises to any other potential tenant or any broker or negotiate a lease for any portion of the Leased Premises with another potential tenant (“Landlord Covenant”). If Landlord violates the Landlord Covenant then Tenant shall be entitled to damages in the amount of $500,000. If from and after the Lease is terminated by either party pursuant to this Section 44, then the Security paid to Lessor shall be refunded to TenantCommencement Date.