Termination of Lease Agreement. Upon the termination of the Lease Agreement for any reason whatsoever, and at the sole cost and expense of the Company, the Mortgagee shall prepare, execute and deliver to the Agency and the Company, and the Agency and the Company and the Mortgagee shall execute, any documents necessary to amend the Mortgage to remove the Agency as a party thereto. TO WHOM IT MAY CONCERN Re: Town of Brookhaven Industrial Development Agency (Xxxxx Xxxxxx at Mt. Sinai, LLC 2019 Facility) Ladies and Gentlemen: The Town of Brookhaven Industrial Development Agency (the “Agency”), by this notice, hereby advises you as follows:
1. Pursuant to a certain Lease and Project Agreement, dated as of January 1, 2019 (the “Lease Agreement”), between the Agency and XXXXX XXXXXX AT MT. SINAI, LLC, a limited liability company duly organized and validly existing under the laws of the State of New York, having its principal office at 00 Xxxxxxx Xxxx, Xxxxxx Xxxx, Xxx Xxxx 00000 (the “Company”), the Agency has authorized the Company to act as its agent in connection with the Facility described therein located at the Eligible Location described above. Certain capitalized terms used herein and not defined shall have the respective meanings given to such terms in the Lease Agreement.
2. Upon the Company’s request, the Agency has appointed [insert name of Agent] (the “Agent”), pursuant to this Sales Tax Agent Authorization Letter (the “Sales Tax Agent Authorization Letter”) to act as the Agency’s agent for the purpose of effecting purchases exempt from sales or use tax in accordance with the terms, provisions of this Sales Tax Agent Authorization Letter and the Lease Agreement. The Agent should review the definitions of Eligible Items and Ineligible Items in Schedule A hereto with respect to the scope of Sales Tax Exemption provided under the Lease Agreement and hereunder.
3. The effectiveness of the appointment of the Agent as an agent of the Agency is expressly conditioned upon the execution by the Agency of New York State Department of Taxation and Finance Form ST-60 “XXX Appointment of Project Operator or Agent” (“Form ST- 60”) to evidence that the Agency has appointed the Agent as its agent (the form of which is to be completed by Agent and the Company). Pursuant to the exemptions from sales and use taxes available to the Agent under this Sales Tax Agent Authorization Letter, the Agent shall avail itself of such exemptions when purchasing eligible materials and services in connection with the ...
Termination of Lease Agreement. The Company shall not terminate the Lease Agreement pursuant to Section 3(b) of said Agreement without receiving the prior written consent of the holders of at least 66 2/3% in aggregate principal amount of all IT Notes at the time outstanding.
Termination of Lease Agreement. Without the written consent of the Lessor, the Lessee shall not terminate the Lease Agreement during the lease term otherwise the Lessor shall be entitled to forfeit the Deposit. Without the consent of the Lessee, the Lessor shall not terminate the Lease Agreement during the lease term except that force majeure occurs.
Termination of Lease Agreement. If Lessor elects to terminate this Lease Agreement pursuant to the terms of Section 11.A., then, notwithstanding such termination, Lessee shall be liable for and shall pay to Lessor the sum of all Royalties (including, without limitation, all Minimum Royalty) and other indebtedness accrued to the date of such termination, plus, as damages, an amount equal to the total of (1) the cost of recovering the Leased Premises, (2) the cost of removing and storing Lessee’s and other occupant’s property located therein, (3) the cost of collecting such amounts from Lessee hereunder, and (4) any other sums of money or damages that may be owed to Lessor as the result of default by Lessee or the exercise of Lessor’s rights at law or in equity. For clarification purposes, Lessee does not have an option to terminate the Lease Agreement during the Primary Term and regardless of when the Lease Agreement is terminated, Lessee will owe, at a minimum, the Minimum Royalty payment for each year during the Primary Term, subject to Lessor’s compliance with its obligations under this Lease.
Termination of Lease Agreement. 17.1 Until the termination of the lease, the Tenant is responsible for the repair of damage caused by the use of the Lease Property and for the removal of hazardous substances and preparations introduced through the use of the Lease Property. The Tenant is also obliged to perform any necessary cosmetic repairs and, if necessary, restore the condition of the Lease Property at the time of transfer in accordance with Paragraph 11.2. A joint protocol will be made no later than one month before the end of the Lease Agreement listing the damage resulting from the Tenant’s use of the Lease Property, the cosmetic repairs that need to be performed and the fixtures and additions, advertising and/or other installations that should be removed by the Tenant.
17.2 Upon termination of the Lease Agreement, the Tenant shall return the Lease Property properly vacated in accordance with the provisions of this Lease Agreement with all keys – including those copied by the Tenant – and all code cards on the date agreed upon with the Landlord. If this does not occur despite a reminder and a grace period, the Landlord is entitled to exchange the appropriate locks at the Tenant’s expense and have new keys and code cards made. The Tenant is aware that the Property is equipped with a locking system. Upon return of the Lease Property, the Landlord will make a detailed protocol of the Lease Property’s condition. The Tenant will be personally involved in the preparation of the protocol or represented by a representative with written authorization.
17.3 If the work to be carried out on the Lease Property by the Tenant is not completed by the end of the Lease Agreement, the rent shall be proportionally extended until the day on which this work is completed. All other claims of the Landlord remain unaffected.
17.4 If the Tenant vacates the Property prematurely, the Landlord has the right to have other repairs and alterations carried out at the Lease Property without entitling the Tenant to claims for rent credit or similar.
Termination of Lease Agreement. (a) Pursuant to Section 6.2 hereof, the Agency shall deliver to the Company all necessary documents to reflect termination or amendment of this Lease Agreement, subject only to the following:
(i) any liens to which the Project was subject when leased to the Agency,
(ii) any liens created at the request of the Company or to the creation of which the Company consented or in the creation of which the Company acquiesced, and
(iii) any liens resulting from the failure of the Company to perform or observe any of the agreements on its part contained in this Lease Agreement.
(b) The Agency shall release and convey to the Company all of the Agency's rights and interest in and to any rights of action or any net proceeds of insurance or condemnation awards in the event ofa total, substantial or partial taking by eminent domain or for any public or quasi-public use under statue, with respect to the Project (specifically excluding all rights of the Agency hereunder including its rights to indemnification hereunder).
Termination of Lease Agreement. It is hereby mutually agreed that either party hereto may terminate this Lease Agreement at any time upon mutual written agreement of both parties or at the end of each term by giving to the other party written notice thereof at least ninety calendar days prior thereto, (except that Lessor shall not have the right at the end of the original term or first renewal term if Lessee exercises the option to renew granted in Paragraph 38 hereof), but in default of such notice, this Lease Agreement shall continue upon the same terms and conditions in force immediately prior to the expiration of the term hereof as are herein contained for a further period of one year and so on from year to year unless or until terminated by either party hereto, giving the other ninety (90) calendar days written notice for removal previous to expiration of the then current term; PROVIDED, however, that should this Lease Agreement be continued for a further period under the terms hereinabove mentioned, and further provided, however, that if Lessor shall have given such written notice prior to the expiration of any term hereby created, of his intention to change the terms and conditions of this Lease Agreement, and Lessee shall not within thirty (30) calendar days from such notice notify Lessor of Lessee's intention to vacate the Demised Premises at the end of the then current term, Lessee shall be considered as Lessee under the terms and conditions mentioned in such notice for a further term as above provided, or for such further term as may be stated in such notice. In the event that Lessee shall give notice, as stipulated in this Lease Agreement, of the end of the present term, or any renewal or extension thereof, and shall fail or refuse so to vacate the same on the date designated by such notice, then it is expressly agreed that Lessor shall have the option either (a) to disregard the notice so given as having no effect, in which case all the terms and conditions of this Lease Agreement shall continue thereafter with full force precisely as if such notice had not been given, or (b) Lessor may, at any time within thirty days after the present term or any renewal or extension thereof, as aforesaid, give Lessee ten days' written notice of his intention to terminate the Lease Agreement; whereupon Lessee expressly agrees to vacate the Demised Premises at the expiration of the period of ten days specified in the notice. All powers granted to Lessor by this Lease Agreement may be exercis...
Termination of Lease Agreement. 14.1. At any time during the Lease Term, either the Lessor or the Lessee may terminate this Lease Agreement without cause by giving the other party ninety (90) days prior written notice of Lease termination.
Termination of Lease Agreement. 5.1 Any termination of the Lease Agreement must be in writing. The receipt of the notice of termination and not the dispatch of the notice of termination determines the timeliness of the termination.
5.2 Landlord and Tenant are allowed to terminate the lease without observing a notice period if there is good cause. The Landlord is also allowed to terminate the lease for cause without notice when
(a) the Tenant has missed two consecutive lease payments or has not paid a significant portion of the lease payment (Section 543 (2) no. 3a BGB) or
(b) the Tenant has missed the lease payment for a period that extends over more than two payment dates in an amount that has reached the equivalent of two lease payments (Section 543 (2) no. 3b BGB) or
(c) the Tenant has issued an affidavit in accordance with Section 807 ZPO, initiated an out-of-court procedure for debt settlement or has discontinued payments; or
(d) the Tenant is late with providing the agreed security deposit and has not provided this security deposit within a two-week grace period; or
(e) the Tenant continues to use the Lease Property contrary to the Agreement and after receiving a prior written warning or continues to cause significant disturbance or damage to the Landlord or other tenants of the Lease Property, or
(f) the Tenant arranges, makes or tolerates unauthorized subletting or transfer to third parties and, despite a warning, does not terminate this action within a reasonable time; or
(g) the Tenant fails to comply with other material contractual obligations within a reasonable period of time despite a warning.
Termination of Lease Agreement. A Termination of the Lease Agreement duly executed and delivered by Seller and County.
