Termination of the Lease Term Sample Clauses

Termination of the Lease Term. The Lease Term will terminate, and all of the Lessee’s right, title and interest in and to this Lease (except to the extent of any conveyance pursuant to Article XI of this Lease) and its obligations thereunder shall terminate without penalty upon the earliest to occur of any of the following events: (a) the expiration of the Initial Term or any Renewal Term and the nonrenewal of the Lease Term resulting from an Event of Nonappropriation pursuant to Section 5.5 of this Lease (which is not thereafter waived by the Lessor as herein provided); (b) the exercise by the Lessee of the option to purchase the Facilities pursuant to Section 11.1 of this Lease; (c) an Event of Default and the Lessor’s election to terminate this Lease as provided in Article XII of this Lease; (d) the payment by the Lessee of all Rental Payments and Additional Payments authorized or required to be paid by the Lessee under this Lease during the Maximum Lease Term; or (e) March 31, 2033 (unless otherwise provided in a Supplemental Lease).
Sample 1
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Termination of the Lease Term. The Lease Term shall terminate upon the earliest of any of the following events: (a) the expiration of the Initial Term or any Renewal Term during which there occurs an Event of Nonappropriation pursuant to Section 4.1 and Article VI of this Lease (provided that the Lease Term shall not be deemed to have been terminated in the event that the Event of Nonappropriation is cured as provided in Section 6.6(c) or (d) hereof); (b) the occurrence of an Event of Nonappropriation under this Lease (provided that the Lease Term will not be deemed to have been terminated if the Event of Nonappropriation is cured as provided in Section 6.6(c) or (d) hereof); (c) the conveyance of the 2023 Leased Property to the District upon payment of the Purchase Option Price or the payment by the District of all Base Rentals for the entire Lease Term, and all Additional Rentals then due, up to the amount specifically appropriated for the payment of Additional Rentals, as provided in Article XII hereof; or (d) An uncured Event of Default and termination of this Lease by the Trustee as provided in Article XIV hereof; or (e) Discharge of the Indenture, as provided in Article VI thereof. Termination of the Lease Term shall terminate all unaccrued obligations of the District under this Lease. If the termination occurs because of the occurrence of an Event of Nonappropriation or an Event of Default, the District's right to possession of the 2023 Leased Property hereunder shall terminate and (i) the District shall, within 30 days of receiving written notice from the Trustee, surrender the 2023 Leased Property; and (ii) if and to the extent the Board has appropriated funds for the payment of Base Rentals and Additional Rentals during the period between the termination of the Lease Term and the date the 2023 Leased Property is surrendered pursuant to clause (i), the District shall pay such appropriated Base Rentals and Additional Rentals for such time as the District continues to use the 2023 Leased Property. All other provisions of this Lease, including all obligations of the District accrued prior to such termination, and all other obligations of the Trustee with respect to the Owners and the receipt and disbursement of funds, shall be continuing until the Indenture is discharged.
Sample 1
Termination of the Lease Term. The Lease Term will terminate, and all of the District’s right, title and interest in and to this Lease (except to the extent of any (a) the expiration of the Initial Term or any Renewal Term and the nonrenewal of the Lease Term resulting from an Event of Nonappropriation pursuant to Section 5.5 hereof (which is not thereafter waived by the Trustee as herein provided); (b) the exercise by the District of the option to purchase the Facilities pursuant to Section 11.1 hereof; (c) an Event of Default and the Trustee’s election to terminate this Lease as provided in Article XII; (d) the payment by the District of all Rental Payments authorized or required to be paid by the District hereunder during the Maximum Lease Term; or (e) June 30, 20 . Notwithstanding anything herein to the contrary, no failure to observe or perform any obligation on the part of the Association, the Trustee or any assignee of either of them shall give effect to the right of the District to terminate this Lease, the District’s rights hereunder being limited to action for damages or specific performance.
Sample 1

Related to Termination of the Lease Term

  • Lease Termination Notwithstanding any other provisions in this Lease, this Lease will terminate and the Tenant must immediately vacate the Leased Premises upon: (i) The date on which the Tenant is no longer enrolled as a student in a course of full-time study at the University of Toronto Mississauga, provided that the Tenant shall be deemed to be enrolled as a student in a course of full-time study to the last day of the summer recess immediately following the completion by the Tenant of a scholastic year of full-time study. (ii) The Landlord and the Tenant agree that, once the Tenant ceases to be enrolled as a student in a course of full-time study at the University of Toronto Mississauga, the Tenant’s continued occupation of the Leased Premises constitutes a substantial interference with the Landlord’s lawful rights, privileges, and interests, and this is grounds for the Landlord to terminate the Lease. (iii) The provisions of this subparagraph 7(k) are strictly for the benefit of the Landlord. The Landlord may, in its sole discretion, elect to waive any or all provision(s) of this subparagraph 7(k) and require the Tenant to remain in occupation of the Leased Premises to the end of the term of the Lease. Alternatively, if the Landlord (at its sole discretion) elects to waive any or all provision(s) of this subparagraph 7(k), the Landlord and the Tenant may mutually agree to change the term of the Lease to require or allow the Tenant to remain in occupation of the Leased Premises until a mutually agreed upon date prior to the end of the term of the Lease. (iv) If either party has given notice to terminate this Lease pursuant to any provision herein, the Leased Premises may be shown to prospective Tenants between the hours of 8:00 am and 8:00 pm by the Landlord. Should the Tenant effectively deny the Landlord reasonable viewing rights. (v) In the event that the Tenant is obliged to vacate the Leased Premises on or before a certain date, and the Landlord enters into a tenancy agreement with a third party to lease the Premises herein described for any period thereafter, and the Tenant fails to vacate the Leased Premises on or before the due date, thereby causing the Landlord to be liable to such third party, then the Tenant will indemnify the Landlord for all losses suffered thereby, including, without limiting the generality of the foregoing, all legal costs incurred by the Landlord, such legal costs to be computed on a full indemnity basis.

  • Lease Term The terms and provisions of this Lease shall be effective as of the date of this Lease. The term of this Lease (the “Lease Term”) shall commence on the “Lease Commencement Date,” as that term is set forth in Section 3.2 of the Summary, and shall terminate on the “Lease Expiration Date,” as that term is set forth in Section 3.3 of the Summary, unless this Lease is sooner terminated as hereinafter provided. Tenant hereby acknowledges that the Premises are currently occupied by another tenant of the Building. If Landlord is unable for any reason to deliver possession of the Premises to Tenant on any specific date , then Landlord shall not be subject to any liability for its failure to do so, and such failure shall not affect the validity of this Lease or the obligations of Tenant hereunder. For purposes of this Lease, the term “Lease Year” shall mean each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within ten (10) business days of receipt thereof; provided, however, Tenant’s failure to execute and return such notice to Landlord within such time shall be conclusive upon Tenant that the information set forth in such notice is as specified therein. In addition to the foregoing, subject to any delays caused by Tenant or any Tenant Parties and events of Force Majeure, if Landlord fails to tender possession of the Premises to Tenant on or before January 2, 2015 (the “Base Rent Delivery Date”), Tenant shall be entitled to one (1) day of per diem Base Rent abatement for each day commencing on the day after the Base Rent Delivery Date and ending on the date Landlord so tenders possession of the Premises to Tenant. Any such Base Rent Abatement shall be separate from and in addition to any Rent Abatement described in Section 3.2 below.

  • Extended Term Tenant shall have the option to extend the Term for two (2) consecutive five (5) year periods (the "FIRST EXTENDED TERM" and "SECOND EXTENDED TERM", respectively) on all the terms and conditions contained in this Lease including, without limitation, continuation of the adjustment of the Base Rent on an annual basis as provided in Section 3.3 below (provided only that upon commencement of the First Extended Term the only remaining option to extend the Term shall be the Second Extended Term and upon exercise of the option with respect to the Second Extended Term, no further right to extend the Term shall exist). Tenant shall deliver, if at all, written notice of its exercise of the option ("OPTION NOTICE") to Landlord at least six (6) months but not more than one (1) year before the expiration of the Term or First Extended Term, as the case may be. In the event Tenant fails to deliver the applicable Option Notice within the time allowed, Landlord shall deliver written notice to Tenant of Tenant's failure to deliver the Option Notice, and Tenant shall then have thirty (30) days from receipt of such notice within which to deliver the Option Notice, if at all, to Landlord. In the event (and only in the event) that, Tenant fails to deliver an Option Notice to Landlord within such thirty (30) days, Tenant shall be considered to have elected not to extend the Term of this Lease and thereafter, Tenant shall have no further right to extend the Term of this Lease. References in this Lease to the "Term" shall include the initial Term of fifteen (15) years and shall, in addition, include the First Extended Term and the Second Extended Term, if applicable.

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