Termination of the Lease Agreement. If either Party terminates the Lease Agreement prior to the expiration of the Lease Term without the consent from the other Party, the Party that terminates the Lease Agreement shall pay damages to the other Party to compensate for such Party’s actual loss. The amount of damages shall include, but not be limited to, the reasonable profits, out-of-pocket costs, legal service fees, Court fees, arbitration fees, accounting fees and removal or relocation fees.
Termination of the Lease Agreement. A. In the event the Lease Agreement or any substitute Lease Agreement with an Approved Substitute Tenant terminates for any reason prior to the expiration of the term of this Agreement, whether as a result of the expiration of the term of the Lease Agreement (as it may be extended), the early termination of the Lease Agreement on account of Owner's exercise of its remedies thereunder, including pursuant to Section 2 hereof, or for any other reason (the date of the termination of the Lease being referred to as the "Termination Date"), Owner shall immediately cure any defaults of Owner that may exist pursuant to Owner's obligations under the Lease Agreement and shall on the Termination Date (i) take possession of the Hotels in compliance with the REIT Rules (defined below) or (ii) immediately lease the Hotels to an interim tenant ("Interim Tenant") of Owner's choosing, and then (subject to the right of first offer set forth in Paragraph C below) use its best efforts to as promptly as is practicable lease the Hotels to an Approved Substitute Tenant for a term identical to the remaining term of the current Lease Agreement (including the extension provisions thereof). Any Interim Tenant shall be a Bankruptcy Remote Entity (defined below). If the Interim Tenant defaults in any manner (including by the commencement of voluntary or involuntary bankruptcy proceedings) and such Interim Tenant does not cure such default upon receipt of written notice thereof, Owner shall, within five (5) days of receipt of written notice thereof, (i) cause such default to be cured or (ii) terminate the lease agreement with the Interim Tenant and take possession of the Hotels in compliance with the REIT Rules (defined below). If Owner directly assumes the obligations of the Lessee under the Management Agreement, the Management Agreement shall be conformed to reflect the fact that the Owner is the fee owner (or ground lessee) of the Hotels rather than a tenant. In each case, the party in possession of the Hotels (i.e., Owner, Interim Tenant, or Approved Substitute Tenant) shall as of the Termination Date take assignment of and shall assume in writing on a prospective basis all of the rights and obligations of Lessee under the Management Agreement. Manager shall recognize such party as the substitute or successor to Westboy LLC under the Management Agreement and shall satisfy all of its obligations and duties as Manager under the Management Agreement in favor of such party. Under no
Termination of the Lease Agreement. 4.1 Lease agreements for an indefinite period of time can be terminated with due observance of a notice period of three months, which notice must be sent by registered letter.
4.2 Lease agreements for a definite period of time can only be terminated as from the end date of the agreement, with due observance of a notice period of three months, which notice must be sent by registered letter.
4.3 Either party can terminate the lease agreement without observing any notice period, if one of the parties is declared insolvent and/or is granted a moratorium on payments.
4.4 RBC can terminate the lease agreement without observing any notice period, if a change of management takes place at the client.
4.5 RBC can terminate the lease agreement without observing any notice period, if the client remains in default with regard to the fulfilment of his contractual obligations towards RBC.
Termination of the Lease Agreement. 15.1. Unless the Lessee can invoke the right of withdrawal relating to distance sales, in the event of force majeure or when the Lessee has opted for a flexible Lease agreement (a '12-60' contract, concluded for a term of 60 months but terminable without charge on a monthly basis after 12 months),the Lease agreement can only be prematurely terminated by the Parties subject to payment of a termination fee. Failure to take delivery of the Vehicle will be regarded as a breach of the Lease agreement within the meaning of this article.
15.1.1. Termination of the Lease agreement before delivery of the Vehicle/the start of the Lease Period: - Termination of the Lease agreement more than thirty days before delivery of the Vehicle: flat-rate compensation of 400 €, VAT excluded. - Termination of the Lease agreement thirty days or less before delivery of the Vehicle: €650, VAT excluded. The delivery date shall be determined by the seller/supplier of the Vehicle. The aforementioned flat fees are reduced by half if the Lessee orders a new Vehicle from DirectLease within thirty days of cancellation. The cancelling Party shall only owe the aforementioned flat fee to the cancelled Party, unless the cancelled Party proves that the actual damage (in particular any damages, costs, etc. that would be owed by the cancelled Party as a result of the cancellation) is higher. In this case, the cancelled Party will be entitled to charge the cancelling Party for the actual damage, consisting of all relevant damages, costs, etc..
15.1.2. Cancellation of the Lease agreement after delivery of the Vehicle/commencement of the Lease period: the terminating Party must pay a cancellation fee calculated as follows: - In the event of cancellation during the first year of the Lease period, the cancelling Party must pay an indemnity equal to all the remaining monthly Lease fees for the first year, with a minimum of six monthly Lease fees. The minimum of six monthly Lease fees is not applicable if the Lessee has opted for a flexible ('12-60') Lease agreement; - In the event of cancellation as from the second year of the Lease period, the cancellation fee is made up of 35% of all the remaining monthly Lease fees (i.e. 35% of the Lease fees that would have been due for the period between the early return of the Vehicle and the end of the contractual Lease period). This arrangement does not apply if the Lessee has opted for a flexible Lease agreement, in which case, after 12 months, the Lessee is f...
Termination of the Lease Agreement. Any default or non-compliance with the agreement by the Lessee, of one of the clauses in this agreement, after first demand or notice of default is sent by registered mail, will be considered as a serious breach of contract by the parties. Only in accordance with the termination of the lease agreement to the detriment of the Lessee, compensation will be owed, which is set at (six) month’s rent. This compensation is payable without prejudice to the rent and the charges until a new lessee leases the premises against lease terms that are better for the Lessor, plus any costs, expenses and expenditures arising from the termination, without prejudice to the other obligations under the lease agreement. In bankruptcy, composition, upon dissolution or liquidation of the Lessee, the immediate termination of the lease can be demanded. In this case, the Lessee would owe the same compensation (see preceding paragraph).
Termination of the Lease Agreement. The parties hereby are waiving all notice requirements under the Lease Agreement and agree that the Lease Agreement shall be terminated effective with the close of business on June 30, 2021 upon the execution of this Agreement. As of the date hereof, each party acknowledges that all responsibilities of the other party under the Lease Agreement have been fully performed, and that neither party has any outstanding obligations or responsibilities, including payment obligations, to the other party.
Termination of the Lease Agreement. Either party may terminate this Lease Agreement pursuant to section 18 if the other party fails to perform any of its material obligations under this Lease Agreement for any reason and fails to cure within thirty (30) days of written notice, or within such extended period as allowed by section 18. GMVRS’s right to occupy and use the Demised Premises pursuant to this Lease Agreement shall immediately terminate in the event that:
(A) GMVRS gives thirty (30) days advance written notice to the City that it is terminating this Lease Agreement; or,
(B) Upon the voluntary or involuntary dissolution of the corporate status with the Virginia State Corporation Commission of GMVRS; or,
(C) If the Manassas City Council formally ceases to recognize GMVRS as a part of the Manassas City Fire and Rescue System and GMVRS ceases to provide emergency medical services, EMS training and/or public health services and related fundraising within the City of Manassas for a period of ninety (90) consecutive days for any reason other than a force majeure situation or a federal, state or municipal directive to restrict such operations on a temporary basis.
Termination of the Lease Agreement. 9.1) The Lease Agreement terminates upon the expiry of the Lease Term set out in the Booking Confirmation or upon the expiry of the extended Lease Term agreed in accordance with clause
9.2) Notwithstanding the above, the Lessor shall be entitled to terminate the Lease Agreement with immediate effect by sending a written notice to the Lessee in the case of the occurrence of an event of default. For the purposes of Early Termination, the following events shall qualify as an event of default:
9.3) In the case of Early Termination, the Lessor, by indicating the consequences, and by setting an additional deadline, the length of which is to be determined at the sole discretion of the Lessor, may require the Lessee in writing to comply with the terms and conditions of the Lease Agreement or fulfil its obligations respectively. Should the Lessee not comply with the terms and conditions of the Lease Agreement or fulfil its obligations within the deadline set by the Lessor, the Lessor shall be entitled to terminate the Lease Agreement in writing with immediate effect.
9.4) In the case of Early Termination, the Lessor shall be entitled to keep Rent and the Security Deposit which have been already paid by the Lessee.
Termination of the Lease Agreement. 13.1 Once the term of the Lease Agreement comes to an end, the Leased Premises shall be returned to the Lessor on the last day of the lease term vacant, broom clean and with all keys returned.
13.2 The Lessee shall remove all movable fixtures and fittings and equipment (including those listed in Annex 1.3), including lighting fixtures and electrical wiring up to distribution and including the locking system pursuant to section 18.2 below, which he has installed during the tenancy and all installations or modifications or other structural changes it has carried out during the tenancy.,
13.3 The Lessor may request in writing that Lessee not remove installations it has made to the Leased Premises, in which case the Parties may agree in writing to an appropriate compensation to the Lessee for such installations. The Lessee has the right to reject any such request of the Lessor.
Termination of the Lease Agreement. Clause 1 Should any of the following situations occur, Party B may terminate this lease agreement:
