Termination of Reduction Premises Sample Clauses

Termination of Reduction Premises. 2.1 Landlord and Tenant hereby acknowledge and agree that the Lease with respect to the Reduction Premises shall terminate and be of no further force and effect as of 12:01 a.m. on November 1, 2009 (the “RP Commencement Date”). Effective as of the RP Commencement Date, the definition of the “Premises” shall be modified so that the Reduction Premises shall no longer be included within such definition. Notwithstanding such termination of the Lease with respect to the Reduction Premises or surrender of the Reduction Premises pursuant to Section 2.2 below, any and all obligations of Tenant under the Lease, as amended hereby, with respect to insurance and indemnity obligations in connection with the Reduction Premises are to survive any termination or surrender thereof and shall continue to survive such termination and surrender.
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Termination of Reduction Premises. Subject to the Temporary Space provision in Section 5 of this Amendment, Landlord and Tenant hereby acknowledge and agree that the Lease with respect to the Reduction Premises shall terminate and be of no further force and effect as of 11:59 p.m. on January 31, 2013 (the “RP Termination Date”). Effective as of the RP Termination Date, the definition of the “Premises” shall be modified so that the Reduction Premises shall no longer be included within such definition and from and after the RP Termination Date the Premises shall consist of approximately 21,441 square feet of rentable area located in Suite 300. Notwithstanding such termination of the Lease with respect to the Reduction Premises or surrender of the Reduction Premises pursuant to Section 2 below, any and all obligations of Tenant under the Lease, as amended hereby, with respect to the Reduction Premises which are required or intended to survive any termination or surrender thereof under the terms of the Lease shall continue to survive such termination and surrender.
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Termination of Reduction Premises. Landlord and Tenant hereby agree that effective as of 12:00 midnight on December 31, 2016 (the "Reduction Premises Expiration Date"), the Lease (as amended hereby) with respect to the Reduction Premises, only, shall expire in accordance with its terms. Tenant covenants to surrender and deliver exclusive possession of the Reduction Premises to Landlord on or prior to the Reduction Premises Expiration Date in the condition set forth in Section 11 below, at Tenant’s sole cost and expense. If Tenant does not surrender and deliver exclusive possession of the Reduction Premises to Landlord in such condition on or before the Reduction Premises Expiration Date, then the holdover provisions of Article 16 of the Original Lease shall apply with respect thereto. Effective immediately after the Reduction Premises Expiration Date, the Existing Premises leased by Tenant from Landlord pursuant to the Lease (as amended hereby) shall no longer include the Reduction Premises, and for all purposes under the Lease (as amended hereby) the "Premises" shall consist of the Remaining Premises, only, containing approximately 48,913 rentable square feet. Notwithstanding the termination of the Lease (as amended hereby) with respect to the Reduction Premises as provided herein or any provision of this Second Amendment to the contrary, Tenant shall remain liable for: (i) all of Tenant's obligations under the Lease (as amended hereby) with respect to the Reduction Premises arising prior to and including the Reduction Premises Expiration Date, including, without limitation, the obligation under the Lease to pay for any reconciliation of Tenant's Share of the Building Direct Expenses with respect to the Reduction Premises (whether or not Tenant is first billed for such amounts prior to or after the Reduction Premises Expiration Date); and (ii) all of Tenant's indemnification and other obligations with respect to the Reduction Premises which expressly survive termination of the Lease (as amended hereby).
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Related to Termination of Reduction Premises

  • Termination of the Lease In terminating the Lease, the following procedures shall be followed by the Authority and Tenant:

  • Lease Termination Except as provided in this Section 9.04, upon expiration or earlier termination of this Lease Tenant shall surrender the Premises to Landlord in the same condition as existed on the date Tenant first occupied the Premises, (whether pursuant to this Lease or an earlier lease), subject to reasonable wear and tear. All Alterations shall become a part of the Premises and shall become the property of Landlord upon the expiration or earlier termination of this Lease, unless Landlord shall, by written notice given to Tenant, require Tenant to remove some or all of Tenant’s Alterations, in which event Tenant shall promptly remove the designated Alterations and shall promptly repair any resulting damage, all at Tenant’s sole expense. All business and trade fixtures, machinery and equipment, furniture, movable partitions and items of personal property owned by Tenant or installed by Tenant at its expense in the Premises shall be and remain the property of Tenant; upon the expiration or earlier termination of this Lease, Tenant shall, at its sole expense, remove all such items and repair any damage to the Premises or the Building caused by such removal. If Tenant fails to remove any such items (“Abandoned Items”) or repair such damage promptly after the expiration or earlier termination of the Lease, Landlord may, but need not, do so with no liability to Tenant, and Tenant shall pay Landlord the cost thereof upon demand. Tenant agrees to indemnify Landlord for any and all loss, cost, damage, liability or expense as incurred (including but not limited to reasonable attorneys’ fees and legal costs) arising out of or related to any claim, suit or judgment brought by or in favor of any person or persons for damage, loss or expense which arises out of, is occasioned by or is in any way attributable to the Abandoned Items. Notwithstanding the foregoing to the contrary, in the event that Landlord gives its consent, pursuant to the provisions of Section 9.01 of this Lease, to allow Tenant to make an Alteration in the Premises, Landlord agrees, upon Tenant’s written request, to notify Tenant in writing at the time of the giving of such consent whether Landlord will require Tenant, at Tenant’s cost, to remove such Alteration at the end of the Lease Term.

  • Optional Termination and Reduction of Aggregate Credit Amounts (i) The Borrower may at any time terminate, or from time to time reduce, the Aggregate Maximum Credit Amounts; provided that (A) each reduction of the Aggregate Maximum Credit Amounts shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 and (B) the Borrower shall not terminate or reduce the Aggregate Maximum Credit Amounts if, after giving effect to any concurrent prepayment of the Loans in accordance with Section 3.04(c), the total Revolving Credit Exposures would exceed the total Commitments.

  • Term Termination 8.1 This Agreement shall be effective as of the date hereof and shall continue in force until terminated in accordance with the provisions herein.

  • Optional Reduction and Termination of Commitments (a) Unless previously terminated, all Revolving Commitments, Swingline Commitments and LC Commitments shall terminate on the Revolving Commitment Termination Date.

  • Optional Termination or Reduction of Commitment The Borrowers on behalf of the applicable Funds shall have the right upon at least three business days prior written notice to CAPCO, to terminate or reduce the unused portion of the Commitment. Any such reduction of the Commitment shall be in the amount of U.S. $5,000,000 or any larger integral multiple of U.S. $1,000,000 (EXCEPT that any reduction may be in the aggregate amount of the unused Commitment). Accrued fees with respect to the terminated Commitment shall be payable to CAPCO on the effective date of such termination.

  • Termination Giving Rise to a Termination Payment If there is a Covered Termination by the Executive for Good Reason, or by the Company other than by reason of (i) death, (ii) disability pursuant to Section 11, or (iii) Cause, then the Executive shall be entitled to receive, and the Company shall promptly pay, Accrued Benefits and, in lieu of further base salary for periods following the Termination Date, as liquidated damages and additional severance pay and in consideration of the covenant of the Executive set forth in Section 13(a), the Termination Payment pursuant to Section 8(a).

  • Optional Termination or Reduction of the Commitments (a) The Borrower shall have the right, upon at least three Business Days’ notice to the Agent, to terminate in whole or permanently reduce ratably in part the Unused Commitments or the Unissued Letter of Credit Commitments, provided that each partial reduction shall be in the aggregate amount of $10,000,000 or an integral multiple of $1,000,000 in excess thereof.

  • Termination and Reduction of the Commitments (a) Unless previously terminated, the Commitments shall terminate on the Maturity Date.

  • Termination and Reduction of Revolving Commitments (a) Unless previously terminated, the Revolving Commitments shall terminate on the Maturity Date.

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