Common use of Termination Option Clause in Contracts

Termination Option. Provided that Tenant is not in material default of this Lease beyond any applicable cure period, Tenant shall have the Option to Terminate this Lease (the “Termination Option”) on November 30, 2003 by giving Landlord no less than two (2) months advance written notice of Tenant’s intent to exercise its Termination Option. If Tenant gives no notice to Landlord of its intent to exercise its Termination Option Tenant must fulfill its obligations under this Lease throughout the term. In the event Tenant exercises its Termination Option Tenant must pay a Termination Penalty (the “Termination Penalty”) of $10,000.00 at the time Tenant notifies Landlord of its intent to exercise its Termination Option. If Tenant fails to pay the Termination Penalty at the time it notifies Landlord of its intent to exercise its Termination Option the Termination Option shall be null and void and Tenant must fulfill its obligations under this Lease throughout the term. 34.16.1 The sidewalks, passages, exits and entrances shall not be obstructed by Tenant or used by Tenant for any purpose other than for ingress to and egress from the Premises. Any balconies or patios shall be left clear except for patio furniture approved by Landlord, such furniture to be of first class material, design and manufacture and of a design that complements the aesthetic qualities of the building’s exterior. Any patio furniture approved by Landlord shall be kept clean and of a neat appearance. 34.16.2 The toilet rooms, urinals, wash bowls and other apparatus shall not be used for any purpose other than for which they were constructed and no foreign substance of any kind whatsoever shall be thrown therein and to the extent caused by Tenant or its employees or invitees, the expenses of any breakage, stoppage or damage resulting from the violation of this rule shall be borne by Tenant. 34.16.3 Electronic key cards, individually identified, are provided to the Tenant at a reasonable fee per card to permit Tenant and Tenant’s employees to gain access to the Building outside of ordinary working hours, subject to: (i) Tenant supplying the name of each employee being given a card; (ii) Tenant requiring that the card earmarked for that employee is actually given to that employee and not to another party, (iii) Tenant obtaining a return of said card from any current or former employee in the event that the employee leaves the company’s employ or no longer works in the Building; (iv) Tenant promptly notifying Landlord of any current or former employee in the event that the employee leaves the company’s employ or no longer works in the Building . Upon the termination of the tenancy, Tenant shall deliver to the Landlord all keys or electronic key cards and passes for the Premises. In the event of loss of any keys or electronic key cards furnished by Landlord, Tenant shall pay the Landlord therefore. Tenant shall not make or cause to be made any such keys or electronic key cards and shall order all such keys or electronic key cards solely from Landlord for any additional such keys or electronic key cards over and above the keys or electronic key cards furnished by Landlord at occupancy. 34.16.4 Without the prior written consent of Landlord, no assignee, subtenant or successor in interest of Tenant shall use the name of the Project or any picture of the Project or Building in connection with or in promoting or advertising the business of Tenant except Tenant may use the address of the Building as the address of its business. 34.16.5 Tenant shall allow no animals or pets to be brought to or remain in the Premises or any part thereof, without the prior written consent of Landlord. 34.16.6 Tenant agrees that it and its employees will cooperate fully with Project employees in the implementation of any security procedures for the Project. 34.16.7 Landlord reserves the right to exclude or expel from the Project any person who, in the judgement of Landlord is intoxicated or under the influence of liquor or drugs or who shall in any manner do any act in violation of any of the rules and regulations of the Project. 34.16.8 No vending machines of any description shall be installed, maintained or operated in a place on the Premises visible from outside the Premises, without the written consent of Landlord. 34.16.9 Tenant shall not: 34. 16.9.1 place any radio or television antennae on the roof or on any part or the outside of the Premises or elsewhere on the Project without Landlord’s prior written consent;

Appears in 3 contracts

Samples: Office Lease (Alimera Sciences Inc), Office Lease (Alimera Sciences Inc), Office Lease (Alimera Sciences Inc)

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Termination Option. Provided that Tenant is not in material default The Mortgages Trustee (as trustee for the Beneficiaries) and Funding may, upon a breach by the relevant Account Bank of this Lease beyond any applicable cure period, Tenant shall have the Option to Terminate this Lease (the “Termination Option”) on November 30, 2003 by giving Landlord no less than two (2) months advance written notice of Tenant’s intent to exercise its Termination Option. If Tenant gives no notice to Landlord of its intent to exercise its Termination Option Tenant must fulfill its obligations under this Lease throughout Agreement, any Issuer Bank Account Agreement, the term. In Funding Guaranteed Investment Contract, the event Tenant exercises its Termination Option Tenant must pay Mortgages Trustee Guaranteed Investment Contract, the Cash Management Agreement, any Issuer Cash Management Agreement or the Servicing Agreement (for the avoidance of doubt, to the extent that the relevant Account Bank is party to the relevant agreement) by giving one month's prior written notice to the relevant Account Bank (with a Termination Penalty copy to the Security Trustee), terminate the appointment of such Account Bank, provided that: (the “Termination Penalty”a) of $10,000.00 at the time Tenant notifies Landlord of its intent to exercise its Termination Option. If Tenant fails to pay the Termination Penalty at the time it notifies Landlord of its intent to exercise its Termination Option the Termination Option shall be null and void and Tenant must fulfill its obligations under this Lease throughout the term. 34.16.1 The sidewalks, passages, exits and entrances such termination shall not be obstructed effective until a replacement financial institution or institutions (in each case (A) whose short-term, unsubordinated, unguaranteed and unsecured debt obligations are rated at least P-1 by Tenant or used Moody's, (B) whose unsubordinated, unguaranteed and unsecured debt obligations are rated at least A-1 short-term and A long-term (or, if such institution has no short-term rating from S&P, at least A+ long-term) by Tenant for any purpose other than for ingress S&P and (C) whose short-term and long-term “Issuer Default Ratings” are at least F1 and A (respectively), by Fitch) shall have entered into an agreement in form and substance similar to and egress from this Agreement; and (b) such termination would not adversely affect the Premises. Any balconies or patios shall be left clear except for patio furniture approved by Landlord, such furniture to be of first class material, design and manufacture and of a design that complements the aesthetic qualities then current ratings of the building’s exteriorRated Notes. Any patio furniture approved by Landlord shall be kept clean and of a neat appearance. 34.16.2 The toilet rooms, urinals, wash bowls and other apparatus shall not be used for any purpose other than for which they were constructed and no foreign substance of any kind whatsoever shall be thrown therein and to the extent caused by Tenant or its employees or inviteesCash Manager, the expenses of any breakage, stoppage Mortgages Trustee and Funding shall use reasonable endeavours to agree such terms with such a replacement financial institution or damage resulting from the violation of this rule shall be borne by Tenant. 34.16.3 Electronic key cards, individually identified, are provided to the Tenant at a reasonable fee per card to permit Tenant and Tenant’s employees to gain access to the Building outside of ordinary working hours, subject to: (i) Tenant supplying the name of each employee being given a card; (ii) Tenant requiring that the card earmarked for that employee is actually given to that employee and not to another party, (iii) Tenant obtaining a return of said card from any current or former employee in the event that the employee leaves the company’s employ or no longer works in the Building; (iv) Tenant promptly notifying Landlord of any current or former employee in the event that the employee leaves the company’s employ or no longer works in the Building . Upon the termination institutions within 60 calendar days of the tenancy, Tenant shall deliver to date of the Landlord all keys or electronic key cards and passes for the Premisesnotice. In the event of loss such termination the relevant Account Bank shall assist the other parties hereto to effect an orderly transition of the banking arrangements documented hereby and the Mortgages Trustee and Funding shall reimburse the relevant Account Bank for its reasonable costs and any amounts in respect of Irrecoverable VAT thereon (including reasonable costs and expenses) incurred during the period of, and until completion of, such transition. Account Bank A shall have no obligation to find a replacement financial institution and shall not be liable for any cost, expenses or fees of any keys or electronic key cards furnished by Landlord, Tenant shall pay the Landlord therefore. Tenant shall not make or cause to be made any such keys or electronic key cards and shall order all such keys or electronic key cards solely from Landlord for any additional such keys or electronic key cards over and above the keys or electronic key cards furnished by Landlord at occupancy. 34.16.4 Without the prior written consent of Landlord, no assignee, subtenant or successor person in interest of Tenant shall use the name respect of the Project or any picture of the Project or Building in connection with or in promoting or advertising the business of Tenant except Tenant may use the address of the Building as the address of its business. 34.16.5 Tenant shall allow no animals or pets to be brought to or remain in the Premises or any part thereof, without the prior written consent of Landlord. 34.16.6 Tenant agrees that it and its employees will cooperate fully with Project employees in the implementation appointment of any security procedures for the Projectreplacement financial institution. 34.16.7 Landlord reserves the right to exclude or expel from the Project any person who, in the judgement of Landlord is intoxicated or under the influence of liquor or drugs or who shall in any manner do any act in violation of any of the rules and regulations of the Project. 34.16.8 No vending machines of any description shall be installed, maintained or operated in a place on the Premises visible from outside the Premises, without the written consent of Landlord. 34.16.9 Tenant shall not: 34. 16.9.1 place any radio or television antennae on the roof or on any part or the outside of the Premises or elsewhere on the Project without Landlord’s prior written consent;

Appears in 3 contracts

Samples: Bank Account Agreement, Bank Account Agreement, Bank Account Agreement

Termination Option. Provided that Tenant is not Anything in material default subsection A of this Article 10 to the contrary notwithstanding, if the Premises are totally damaged or are rendered wholly untenantable, or if the Building shall be so damaged by fire or other casualty that, in Landlord's sole but reasonable opinion, either substantial alteration, demolition or reconstruction of the Building shall be required (whether or not the Premises shall have been damaged or rendered untenantable), or if the Building, after its proposed repair, alteration or restoration, shall not be economically viable as an office building, then in any of such events, Landlord, at Landlord's option, may, not later than sixty (60) days following the damage, give Tenant a notice in writing terminating this Lease; provided that if the Premises are not substantially damaged or rendered untenantable, Landlord may not terminate this Lease beyond unless Landlord shall elect to terminate leases affecting at least thirty percent (30%) of the rentable office area of the Building (excluding any applicable cure periodrentable area occupied by Landlord or its affiliates). In addition, (i) if any damage shall occur to the Premises or the Building during the last year of the Term, Landlord or Tenant shall have the Option option to Terminate terminate this Lease by thirty (the “Termination Option”30) on November 30, 2003 by giving Landlord no less than two (2) months advance days prior written notice to the other and (ii) Landlord shall not be obligated to repair or restore the Premises or the Building if a holder of Tenant’s intent a mortgage or underlying leasehold applies proceeds of insurance to exercise its Termination Optionthe loan or lease payment balance, and the remaining proceeds, if any, available to Landlord are insufficient to pay for such repair or restoration. If Landlord elects to terminate this Lease, the Term shall expire upon the date set forth in such notice, and Tenant gives no notice shall vacate the Premises and surrender the same to Landlord of its intent without prejudice however, to exercise its Termination Option Landlord's rights and remedies against Tenant must fulfill its obligations under this Lease throughout the term. In the event Tenant exercises its Termination Option Tenant must pay a Termination Penalty (the “Termination Penalty”) of $10,000.00 at the time Tenant notifies Landlord of its intent in effect prior to exercise its Termination Option. If Tenant fails to pay the Termination Penalty at the time it notifies Landlord of its intent to exercise its Termination Option the Termination Option such termination and any Rent owing shall be null paid up to such date and void and Tenant must fulfill its obligations under this Lease throughout the term. 34.16.1 The sidewalks, passages, exits and entrances shall not be obstructed any payments of Rent made by Tenant or used by Tenant for which were on account of any purpose other than for ingress period subsequent to and egress from the Premises. Any balconies or patios such date shall be left clear except for patio furniture approved by Landlord, such furniture returned to be of first class material, design and manufacture and of a design that complements the aesthetic qualities of the building’s exterior. Any patio furniture approved by Landlord shall be kept clean and of a neat appearance. 34.16.2 The toilet rooms, urinals, wash bowls and other apparatus shall not be used for any purpose other than for which they were constructed and no foreign substance of any kind whatsoever shall be thrown therein and to the extent caused by Tenant or its employees or invitees, the expenses of any breakage, stoppage or damage resulting from the violation of this rule shall be borne by Tenant. 34.16.3 Electronic key cards, individually identified, are provided to the Tenant at a reasonable fee per card to permit Tenant and Tenant’s employees to gain access to the Building outside of ordinary working hours, subject to: (i) Tenant supplying the name of each employee being given a card; (ii) Tenant requiring that the card earmarked for that employee is actually given to that employee and not to another party, (iii) Tenant obtaining a return of said card from any current or former employee in the event that the employee leaves the company’s employ or no longer works in the Building; (iv) Tenant promptly notifying Landlord of any current or former employee in the event that the employee leaves the company’s employ or no longer works in the Building . Upon the termination of this Lease under the tenancyconditions provided for in the next preceding sentence, Tenant Tenant's liability for Rent thereafter accruing shall deliver to the Landlord all keys or electronic key cards and passes for the Premises. In the event of loss of any keys or electronic key cards furnished by Landlord, Tenant shall pay the Landlord therefore. Tenant shall not make or cause to be made any such keys or electronic key cards and shall order all such keys or electronic key cards solely from Landlord for any additional such keys or electronic key cards over and above the keys or electronic key cards furnished by Landlord at occupancy. 34.16.4 Without the prior written consent of Landlord, no assignee, subtenant or successor in interest of Tenant shall use the name cease as of the Project or any picture of the Project or Building in connection with or in promoting or advertising the business of Tenant except Tenant may use the address of the Building as the address of its businessday following such damage. 34.16.5 Tenant shall allow no animals or pets to be brought to or remain in the Premises or any part thereof, without the prior written consent of Landlord. 34.16.6 Tenant agrees that it and its employees will cooperate fully with Project employees in the implementation of any security procedures for the Project. 34.16.7 Landlord reserves the right to exclude or expel from the Project any person who, in the judgement of Landlord is intoxicated or under the influence of liquor or drugs or who shall in any manner do any act in violation of any of the rules and regulations of the Project. 34.16.8 No vending machines of any description shall be installed, maintained or operated in a place on the Premises visible from outside the Premises, without the written consent of Landlord. 34.16.9 Tenant shall not: 34. 16.9.1 place any radio or television antennae on the roof or on any part or the outside of the Premises or elsewhere on the Project without Landlord’s prior written consent;

Appears in 2 contracts

Samples: Lease Agreement (Predictive Systems Inc), Lease Agreement (Predictive Systems Inc)

Termination Option. Provided Anything contained in Section 16.01 to the contrary notwithstanding, if (i) the Building or the Unit shall be so damaged by Casualty (i.e. for this purpose, damage which costs more than 50% of the full insurable value of the Building or the Unit to repair or requires more than 15 months to restore) that, in Landlord’s reasonable opinion, substantial alteration, demolition, or reconstruction of the Building or the Unit shall be required (whether or not the Premises shall have been damaged or rendered unusable for general office use), then Landlord, at Landlord’s option, not later than 90 days following the damage, give Tenant a notice in writing terminating this Lease, provided that Tenant is Landlord may not in material default of terminate this Lease beyond unless it shall elect to terminate leases (including this Lease) affecting at least 75% of the remaining office space in the Unit (expressly excluding from such computation any applicable cure period, Tenant shall have the Option to Terminate this Lease (the “Termination Option”) on November 30, 2003 retail space and any rentable area occupied by giving Landlord no less than two (2) months advance written notice of Tenant’s intent to exercise or its Termination OptionAffiliates). If Landlord elects to terminate this Lease, the Term shall expire upon a date set by Landlord, but not sooner than the 30th day after such notice is given to Tenant gives no notice to Landlord of its intent to exercise its Termination Option Tenant must fulfill its obligations under this Lease throughout or, if the term. In the event Tenant exercises its Termination Option Tenant must pay a Termination Penalty (the “Termination Penalty”) of $10,000.00 at the time Tenant notifies Landlord of its intent to exercise its Termination Option. If Tenant fails to pay the Termination Penalty at the time it notifies Landlord of its intent to exercise its Termination Option the Termination Option shall be null and void and Tenant must fulfill its obligations under this Lease throughout the term. 34.16.1 The sidewalks, passages, exits and entrances Premises shall not be obstructed substantially damaged and rendered substantially unusable for general, executive and administrative office use and the same are usable for general office use, 6 months following the date on which such notice is given or such shorter period as specified by Tenant or used by Tenant for any purpose other than for ingress in a notice to and egress from the Premises. Any balconies or patios shall be left clear except for patio furniture approved by Landlord, such furniture and Tenant shall vacate the Premises and surrender the same to be Landlord in accordance with the provisions of first class material, design and manufacture and of a design that complements the aesthetic qualities of the building’s exterior. Any patio furniture approved by Landlord shall be kept clean and of a neat appearance. 34.16.2 The toilet rooms, urinals, wash bowls and other apparatus shall not be used for any purpose other than for which they were constructed and no foreign substance of any kind whatsoever shall be thrown therein and to the extent caused by Tenant or its employees or invitees, the expenses of any breakage, stoppage or damage resulting from the violation of this rule shall be borne by Tenant. 34.16.3 Electronic key cards, individually identified, are provided to the Tenant at a reasonable fee per card to permit Tenant and Tenant’s employees to gain access to the Building outside of ordinary working hours, subject to: (i) Tenant supplying the name of each employee being given a card; (ii) Tenant requiring that the card earmarked for that employee is actually given to that employee and not to another party, (iii) Tenant obtaining a return of said card from any current or former employee in the event that the employee leaves the company’s employ or no longer works in the Building; (iv) Tenant promptly notifying Landlord of any current or former employee in the event that the employee leaves the company’s employ or no longer works in the Building Article 24 hereof. Upon the termination of this Lease under the tenancyconditions provided for in this Section 16.02, Tenant Tenant’s liability for Base Rent, Additional Rent and all other charges under this Lease shall deliver to the Landlord cease and any prepaid portion of Base Rent, Additional Rent and all keys or electronic key cards and passes for the Premises. In the event of loss of any keys or electronic key cards furnished by Landlord, Tenant shall pay the Landlord therefore. Tenant shall not make or cause to be made any such keys or electronic key cards and shall order all such keys or electronic key cards solely from Landlord other charges under this Lease for any additional period after such keys or electronic key cards over and above the keys or electronic key cards furnished date shall be refunded by Landlord at occupancyto Tenant. 34.16.4 Without the prior written consent of Landlord, no assignee, subtenant or successor in interest of Tenant shall use the name of the Project or any picture of the Project or Building in connection with or in promoting or advertising the business of Tenant except Tenant may use the address of the Building as the address of its business. 34.16.5 Tenant shall allow no animals or pets to be brought to or remain in the Premises or any part thereof, without the prior written consent of Landlord. 34.16.6 Tenant agrees that it and its employees will cooperate fully with Project employees in the implementation of any security procedures for the Project. 34.16.7 Landlord reserves the right to exclude or expel from the Project any person who, in the judgement of Landlord is intoxicated or under the influence of liquor or drugs or who shall in any manner do any act in violation of any of the rules and regulations of the Project. 34.16.8 No vending machines of any description shall be installed, maintained or operated in a place on the Premises visible from outside the Premises, without the written consent of Landlord. 34.16.9 Tenant shall not: 34. 16.9.1 place any radio or television antennae on the roof or on any part or the outside of the Premises or elsewhere on the Project without Landlord’s prior written consent;

Appears in 2 contracts

Samples: Office Lease Agreement (Pubmatic, Inc.), Office Lease Agreement (Pubmatic, Inc.)

Termination Option. Provided that Tenant is not will use the Second Expansion Space to schedule appointments with Tenant's clients ("Clients") for the use of conference rooms located in material default of this Lease beyond any applicable cure period, Tenant the Second Expansion Space. Landlord shall have the Option option to Terminate terminate the Lease with respect to the Second Expansion Space at anytime after the earlier to occur of (i) May 31, 2000, or (ii) the last date that the conference room is booked for use by any of such Clients (the "Earliest Termination Date"), provided Landlord gives notice thereof to Tenant not less than ten (10) days prior to the Earliest Termination Date. Such notice must specify the date (which cannot be prior to the Earliest Termination Date) on which Landlord desires the termination to become effective (the " Actual Termination Date"). Tenant must pay in full, on or before the Actual Termination Date all Second Expansion Space Percentage Rent, Actual Operating Expenses, additional rent, and all other sums due by Tenant under this Lease (through and including the Actual Termination Option”) on November 30Date. After Landlord's receipt of such sums, 2003 by giving Landlord no less and so long as Tenant has surrendered the Premises, including the alterations, improvements and changes, other than two (2) months advance written notice Tenant's fixtures remaining the property of Tenant’s intent , broom-clean and in the condition the same were in on the commencement date for the Second Expansion Space, subject only to exercise its Termination Option(i) ordinary and customary wear and tear, and (ii) damage resulting from a fire or other casualty. If Tenant gives no notice to Landlord of its intent to exercise its Termination Option Tenant must fulfill its in the condition required under this Lease, neither party shall have any rights, liabilities or obligations under this Lease throughout for the term. In period accruing after the event Tenant exercises its Actual Termination Option Tenant must pay a Termination Penalty (Date, except those which, by the “Termination Penalty”) of $10,000.00 at the time Tenant notifies Landlord of its intent to exercise its Termination Option. If Tenant fails to pay the Termination Penalty at the time it notifies Landlord of its intent to exercise its Termination Option the Termination Option shall be null and void and Tenant must fulfill its obligations under this Lease throughout the term. 34.16.1 The sidewalks, passages, exits and entrances shall not be obstructed by Tenant or used by Tenant for any purpose other than for ingress to and egress from the Premises. Any balconies or patios shall be left clear except for patio furniture approved by Landlord, such furniture to be of first class material, design and manufacture and of a design that complements the aesthetic qualities provisions of the building’s exterior. Any patio furniture approved by Landlord shall be kept clean and of a neat appearance. 34.16.2 The toilet roomsLease, urinals, wash bowls and other apparatus shall not be used for any purpose other than for which they were constructed and no foreign substance of any kind whatsoever shall be thrown therein and to the extent caused by Tenant or its employees or invitees, the expenses of any breakage, stoppage or damage resulting from the violation of this rule shall be borne by Tenant. 34.16.3 Electronic key cards, individually identified, are provided to the Tenant at a reasonable fee per card to permit Tenant and Tenant’s employees to gain access to the Building outside of ordinary working hours, subject to: (i) Tenant supplying the name of each employee being given a card; (ii) Tenant requiring that the card earmarked for that employee is actually given to that employee and not to another party, (iii) Tenant obtaining a return of said card from any current or former employee in the event that the employee leaves the company’s employ or no longer works in the Building; (iv) Tenant promptly notifying Landlord of any current or former employee in the event that the employee leaves the company’s employ or no longer works in the Building . Upon expressly survive the termination of the tenancyLease, Tenant shall deliver to the Landlord all keys or electronic key cards and passes for the Premises. In the event of loss of any keys or electronic key cards furnished as modified by Landlord, Tenant shall pay the Landlord therefore. Tenant shall not make or cause to be made any such keys or electronic key cards and shall order all such keys or electronic key cards solely from Landlord for any additional such keys or electronic key cards over and above the keys or electronic key cards furnished by Landlord at occupancythis Third Amendment. 34.16.4 Without the prior written consent of Landlord, no assignee, subtenant or successor in interest of Tenant shall use the name of the Project or any picture of the Project or Building in connection with or in promoting or advertising the business of Tenant except Tenant may use the address of the Building as the address of its business. 34.16.5 Tenant shall allow no animals or pets to be brought to or remain in the Premises or any part thereof, without the prior written consent of Landlord. 34.16.6 Tenant agrees that it and its employees will cooperate fully with Project employees in the implementation of any security procedures for the Project. 34.16.7 Landlord reserves the right to exclude or expel from the Project any person who, in the judgement of Landlord is intoxicated or under the influence of liquor or drugs or who shall in any manner do any act in violation of any of the rules and regulations of the Project. 34.16.8 No vending machines of any description shall be installed, maintained or operated in a place on the Premises visible from outside the Premises, without the written consent of Landlord. 34.16.9 Tenant shall not: 34. 16.9.1 place any radio or television antennae on the roof or on any part or the outside of the Premises or elsewhere on the Project without Landlord’s prior written consent;

Appears in 1 contract

Samples: Lease Agreement (Crescent Operating Inc)

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Termination Option. Provided Landlord and Tenant acknowledge that pursuant to the Omnivision Lease, Omnivision has an option (“Omnivision Extension Option”), exercisable by written notice to Landlord on or before September 30, 2008, to extend the Omnivision Lease for a period of three (3) years. If Omnivision exercises the Omnivision Extension Option, Landlord shall promptly so notify Tenant is not in material default of this Lease beyond any applicable cure period, writing (the “Omnivision Notice”) and Tenant shall have the Option to Terminate this Lease option (the “Termination Option”) on November to terminate this Lease effective as of June 30, 2003 by giving 2009. In order to exercise the Termination Option, Tenant must provide Landlord no less than two (2) months advance with written notice of Tenant’s intent to exercise its (“Termination Option. If Tenant gives no notice to Landlord Notice”) of its intent to exercise its of the Termination Option on or before the later of (i) seventy-five (75) days after Landlord’s delivery of the Omnivision Notice, and (ii) December 31, 2008, and, at the time of Termination Notice, Tenant must fulfill its obligations shall not be in default under this Lease throughout the term. In the event Tenant exercises its Termination Option Tenant must pay a Termination Penalty (the “Termination Penalty”) after expiration of $10,000.00 at the time Tenant notifies Landlord of its intent to exercise its Termination Optionapplicable notice and cure periods. If Omnivision exercises the Omnivision Extension Option and if Tenant fails to pay the Termination Penalty at the time it notifies Landlord of its intent to does not exercise its Termination Option the Termination Option in a timely fashion, then notwithstanding anything to the contrary contained in this Lease, the Must Take Space shall be null and void not become a part of the Premises and Tenant must fulfill its obligations under shall have no right to use or purchase the Must Take Space Furniture and, upon request from Landlord, Landlord and Tenant shall execute an amendment to this Lease throughout documenting that the term. 34.16.1 The sidewalks, passages, exits and entrances Must Take Space shall not be obstructed by Tenant or used by Tenant for any purpose other than for ingress to and egress from the Premises. Any balconies or patios shall be left clear except for patio furniture approved by Landlord, such furniture to be of first class material, design and manufacture and of become a design that complements the aesthetic qualities part of the buildingPremises and modifying Tenant’s exterior. Any patio furniture approved by Landlord shall be kept clean and of a neat appearance. 34.16.2 The toilet rooms, urinals, wash bowls and other apparatus shall not be used for any purpose other than for which they were constructed and no foreign substance of any kind whatsoever shall be thrown therein and to the extent caused by Tenant or its employees or inviteesProportionate Share, the expenses of any breakage, stoppage or damage resulting from the violation of this rule shall be borne by Tenant. 34.16.3 Electronic key cards, individually identified, are provided to the Tenant at a reasonable fee per card to permit Tenant Basic Rental and Tenant’s employees to gain access to the Building outside of ordinary working hours, subject to: (i) Tenant supplying the name of each employee being given parking rights as a card; (ii) Tenant requiring that the card earmarked for that employee is actually given to that employee and not to another party, (iii) Tenant obtaining a return of said card from any current or former employee in the event that the employee leaves the company’s employ or no longer works in the Building; (iv) Tenant promptly notifying Landlord of any current or former employee in the event that the employee leaves the company’s employ or no longer works in the Building . Upon the termination of the tenancy, Tenant shall deliver to the Landlord all keys or electronic key cards and passes for the Premises. In the event of loss of any keys or electronic key cards furnished by Landlord, Tenant shall pay the Landlord therefore. Tenant shall not make or cause to be made any such keys or electronic key cards and shall order all such keys or electronic key cards solely from Landlord for any additional such keys or electronic key cards over and above the keys or electronic key cards furnished by Landlord at occupancyresult. 34.16.4 Without the prior written consent of Landlord, no assignee, subtenant or successor in interest of Tenant shall use the name of the Project or any picture of the Project or Building in connection with or in promoting or advertising the business of Tenant except Tenant may use the address of the Building as the address of its business. 34.16.5 Tenant shall allow no animals or pets to be brought to or remain in the Premises or any part thereof, without the prior written consent of Landlord. 34.16.6 Tenant agrees that it and its employees will cooperate fully with Project employees in the implementation of any security procedures for the Project. 34.16.7 Landlord reserves the right to exclude or expel from the Project any person who, in the judgement of Landlord is intoxicated or under the influence of liquor or drugs or who shall in any manner do any act in violation of any of the rules and regulations of the Project. 34.16.8 No vending machines of any description shall be installed, maintained or operated in a place on the Premises visible from outside the Premises, without the written consent of Landlord. 34.16.9 Tenant shall not: 34. 16.9.1 place any radio or television antennae on the roof or on any part or the outside of the Premises or elsewhere on the Project without Landlord’s prior written consent;

Appears in 1 contract

Samples: Standard Office Lease (Aruba Networks, Inc.)

Termination Option. Provided that Tenant is not in material default Subject to the terms and conditions of this paragraph, Tenant may at any time and from time to time during the Primary Term and during the first twelve (12) months of the first Extended Term terminate the Lease beyond as to any applicable cure periodone or more of the Clear Fork Building, the West Fork Building, the Control Center, and/or the Data Center, in each case by written notice to Landlord specifying the portion of the Premises (i.e., all of the Clear Fork Building, all of the West Fork Building, all of the Control Center, and/or all of the Data Center) with respect to which Tenant has elected to terminate the Lease. Further, if Tenant has exercised the option to extend the term of the Lease as to both the Clear Fork Building and the West Fork Building, following the twelfth (12th) month of the Extended Term as to the West Fork Building and the Clear Fork Building, Tenant may at any time or from time to time during such portion of the Extended Term terminate the Lease as to one (but not both) of the Clear Fork Building or the West Fork Building by written notice to Landlord specifying the portion of the Premises (i.e., all of the Clear Fork Building or all of the West Fork Building) with respect to which Tenant has elected to terminate the Lease. The effective date of any such termination shall be six (6) months after Landlord’s receipt of such written notice of termination from Tenant, subject to Tenant’s compliance with the provisions of this paragraph. If Tenant properly and timely elects to terminate the Lease as to any one or more of the Clear Fork Building, the West Fork Building, the Control Center and/or the Data Center, such termination shall be effective only if Tenant shall (a) have paid all Basic Rent, Additional Rent and other sums owing by Tenant to Landlord through the effective date of such termination, and (b) not be in default under any of the terms, conditions or provisions of the Lease as of the date of Landlord’s receipt of such notice of termination or as of the effective date of such termination. Any such termination shall be effective only as to all (but not part) of the particular component of the Premises with respect to which Tenant desires to terminate the Lease (e.g., if Tenant desires to terminate the Lease as to the West Fork Building, any such termination shall be effective only as to all (but not part) of the West Fork Building). Following such termination and payment by Tenant to Landlord of any sums owing by Tenant to Landlord, neither Landlord nor Tenant shall have any obligations to the Option other with respect to Terminate this the portion of the Premises with respect to which the Lease (has been terminated except those obligations of Landlord and Tenant under the “Termination Option”) on November 30, 2003 by giving Landlord no less than two (2) months advance written notice Lease through the effective date of Tenant’s intent to exercise its Termination Option. If Tenant gives no notice to Landlord such termination and those obligations which survive the expiration or termination of its intent to exercise its Termination Option Tenant must fulfill its obligations under this the Lease throughout as specified in the termLease. In the event Tenant exercises its Termination Option Tenant must pay a Termination Penalty (the “Termination Penalty”) of $10,000.00 at the time Tenant notifies Landlord of its intent to exercise its Termination Option. If that Tenant fails to pay properly and timely comply with the Termination Penalty at provisions of this paragraph entitling Tenant to terminate the time it notifies Landlord of its intent Lease as to exercise its Termination Option the Termination Option shall be null and void and Tenant must fulfill its obligations under this Lease throughout the term. 34.16.1 The sidewalks, passages, exits and entrances shall not be obstructed by Tenant any one or used by Tenant for any purpose other than for ingress to and egress from the Premises. Any balconies or patios shall be left clear except for patio furniture approved by Landlord, such furniture to be of first class material, design and manufacture and of a design that complements the aesthetic qualities more of the building’s exterior. Any patio furniture approved by Landlord shall be kept clean and of a neat appearance. 34.16.2 The toilet rooms, urinals, wash bowls and other apparatus shall not be used for any purpose other than for which they were constructed and no foreign substance of any kind whatsoever shall be thrown therein and to the extent caused by Tenant or its employees or inviteesClear Fork Building, the expenses of any breakageWest Fork Building, stoppage or damage resulting from the violation of this rule shall be borne by Tenant. 34.16.3 Electronic key cards, individually identified, are provided to Control Center and/or the Tenant at a reasonable fee per card to permit Tenant and Tenant’s employees to gain access to the Building outside of ordinary working hours, subject to: (i) Tenant supplying the name of each employee being given a card; (ii) Tenant requiring that the card earmarked for that employee is actually given to that employee and not to another party, (iii) Tenant obtaining a return of said card from any current or former employee in the event that the employee leaves the company’s employ or no longer works in the Building; (iv) Tenant promptly notifying Landlord of any current or former employee in the event that the employee leaves the company’s employ or no longer works in the Building . Upon the termination of the tenancyData Center, Tenant shall deliver be deemed to the Landlord all keys or electronic key cards and passes for the Premises. In the event of loss of any keys or electronic key cards furnished by Landlord, Tenant shall pay the Landlord therefore. Tenant shall not make or cause to be made any such keys or electronic key cards and shall order all such keys or electronic key cards solely from Landlord for any additional such keys or electronic key cards over and above the keys or electronic key cards furnished by Landlord at occupancy. 34.16.4 Without the prior written consent of Landlord, no assignee, subtenant or successor in interest of Tenant shall use the name of the Project or any picture of the Project or Building in connection with or in promoting or advertising the business of Tenant except Tenant may use the address of the Building as the address of its business. 34.16.5 Tenant shall allow no animals or pets to be brought to or remain in the Premises or any part thereof, without the prior written consent of Landlord. 34.16.6 Tenant agrees that it and its employees will cooperate fully with Project employees in the implementation of any security procedures for the Project. 34.16.7 Landlord reserves the have waived Tenant’s right to exclude or expel from terminate the Project any person who, Lease pursuant to this paragraph and the Lease shall continue in the judgement of Landlord is intoxicated or under the influence of liquor or drugs or who shall in any manner do any act in violation of any of the rules full force and regulations of the Projecteffect. 34.16.8 No vending machines of any description shall be installed, maintained or operated in a place on the Premises visible from outside the Premises, without the written consent of Landlord. 34.16.9 Tenant shall not: 34. 16.9.1 place any radio or television antennae on the roof or on any part or the outside of the Premises or elsewhere on the Project without Landlord’s prior written consent;

Appears in 1 contract

Samples: Lease (Radioshack Corp)

Termination Option. Provided that Tenant is not in material default (A) Subject to the terms of this Lease beyond any applicable cure periodSection 1.6, Tenant shall have the Option option (the "Termination Option") to Terminate terminate this Lease with respect to all or a portion of the Premises (the entire Premises, or, if Tenant elects to terminate this Lease with respect to less than all of the Premises, the portion of the Premises for which Tenant elects to terminate this Lease, being referred to herein as the "Terminated Space") effective as of the day prior to the day that is the tenth (10th) anniversary of the Rent Commencement Date (such date that is the day prior to the day that is the tenth (10th) anniversary of the Rent Commencement Date being referred to herein as the "Termination Option”Date") on November 30, 2003 by giving Landlord notice (the "Termination Notice") of its election to exercise such option no less later than two the date which is eighteen (218) months advance written notice prior to the Termination Date (as to which date time shall be of Tenant’s intent to exercise its Termination Optionthe essence). If Tenant gives no notice to Landlord of its intent elects to exercise its the Termination Option with respect to less than the entire Premises, then Tenant must fulfill its obligations under this Lease throughout may elect to designate as the term. In Terminated Space only those portions of the event Tenant exercises its Termination Option Tenant must pay a Termination Penalty (Premises that then constitute all of the “Termination Penalty”) Rentable Area on the applicable floor of $10,000.00 at the time Tenant notifies Landlord Building on which such portions of its intent to exercise its Termination Optionthe Terminated Space are located. If Tenant fails has theretofore exercised the Option, then Tenant shall only have right to pay designate as the Terminated Space all of the Rentable Area on one (1) floor of Building in which the Premises demised hereunder is located. Tenant shall elect in the Termination Penalty at Notice which portions of the time it notifies Landlord Premises Tenant elects to constitute Terminated Space, subject to the terms of its intent to exercise its Termination Option this Section 1.6, provided that if Tenant does not specify in the Termination Option Notice which portions of the Premises Tenant elects to constitute Terminated Space, then Tenant shall be null and void and deemed to have elected that the entire Premises shall constitute Terminated Space (or, if Tenant must fulfill has theretofore exercised the Option, then Tenant shall be deemed to have elected that one (1) floor of Premises (which floor Landlord shall have the right to designate in its obligations under this Lease throughout the termsole discretion) shall constitute Terminated Space). 34.16.1 (B) The sidewalks, passages, exits and entrances Termination Notice shall not be obstructed by effective unless simultaneously with the delivery thereof to Landlord, Tenant pays to Landlord an amount (the "Termination Fee"), pro-rated (if applicable) to reflect the portion thereof that is attributable to the Terminated Space, equal to the sum of (a) the unamortized amount of (i) any brokerage commissions paid to any brokers, finders or used by salespersons representing Tenant in connection with this Lease, including with respect to any Option Space, (ii) the Fixed Rent and Escalation Rent (if any) which would have been payable hereunder for any purpose other than for ingress to and egress the period from the Premises. Any balconies or patios shall be left clear except Commencement Date until the Rent Commencement Date (as if such amounts were payable commencing on the Commencement Date, rather than the Rent Commencement Date), and with respect to any Option Space, any rent which would have been payable for patio furniture approved by Landlordthe period from the commencement date for such Option Space until the rent commencement date for such Option Space (as if such amounts were payable commencing on the commencement date for such Option Space, rather than the rent commencement date for such furniture Option Space) (it being understood that, pursuant to be of first class materialArticle 18 hereof, design and manufacture and of a design that complements the aesthetic qualities of the building’s exterior. Any patio furniture approved by Landlord shall be kept clean and of a neat appearance. 34.16.2 The toilet rooms, urinals, wash bowls and other apparatus shall not be used for obligated to grant to Tenant any purpose other than for which they were constructed and no foreign substance of free rent period with respect to any kind whatsoever shall be thrown therein and to the extent caused by Tenant or its employees or invitees, the expenses of any breakage, stoppage or damage resulting from the violation of this rule shall be borne by Tenant. 34.16.3 Electronic key cards, individually identified, are provided to the Tenant at a reasonable fee per card to permit Tenant and Tenant’s employees to gain access to the Building outside of ordinary working hours, subject to: (i) Tenant supplying the name of each employee being given a card; (ii) Tenant requiring that the card earmarked for that employee is actually given to that employee and not to another partyOption Space), (iii) Tenant obtaining a return of said card from any current or former employee in the event that the employee leaves the company’s employ or no longer works in the Building; 650 Rent Credit and (iv) the Landlord Work Costs Contribution, to the extent paid by Landlord to the Work Contractor (or offset against the Rental due hereunder from Tenant), and any other tenant improvement allowance paid to Tenant promptly notifying by Landlord (or offset against the Rental due hereunder from Tenant), including with respect to any Option Space (it being understood that, pursuant to Article 18 hereof, Landlord shall not be obligated to grant to Tenant any tenant improvement allowance with respect to any Option Space), all amortized on a straight-line basis over the Term, commencing on the Rent Commencement Date or, with respect to any Option Space, commencing on the Applicable Option Space Commencement Date for such Option Space, as if Tenant had not exercised the Termination Option, using an interest factor of six percent (6%) per annum, and (b) an amount equal to the product of (x) the monthly installment of Fixed Rent and the monthly installment of Escalation Rent (it being understood that if the Tax Payment hereunder is not payable in twelve (12) monthly installments at such time, then such Tax Payment shall be computed as if the Tax Payment was payable in twelve (12) monthly installments for purposes of this clause (b)) payable by Tenant hereunder for the Terminated Space for the calendar month in which Tenant delivers the Termination Notice to Landlord (without taking into account any current abatement of Fixed Rent or former employee Escalation Rent that is in effect for the event calendar month in which Tenant delivers the Termination Notice) and (y) three (3). Landlord shall provide to Tenant a reasonably detailed statement showing Landlord's calculation of the Termination Fee within ten (10) days after request therefor is given by Tenant to Landlord, provided that to the extent that any portion of the Termination Fee is not definitively ascertainable at such time, such portion shall be determined by Landlord based on Landlord's reasonable estimation of the same (which shall not be binding on Landlord). (C) Tenant shall not have the right to exercise the Termination Option if, as of the date that the employee leaves Termination Option is exercised, (x) a monetary or material non-monetary Event of Default has occurred and is continuing or (y) the company’s employ Initial Tenant Requirement is not satisfied. If Tenant exercises the Termination Option, and at any time prior to the Termination Date, (i) a monetary or no longer works material non-monetary Event of Default has occurred and is continuing or (ii) the Initial Tenant Requirement is not satisfied, then, at any time prior to the Termination Date, Landlord shall have the right to declare Tenant's exercise of the Termination Option ineffective by giving notice thereof to Tenant. (D) If Tenant exercises Tenant's right to terminate this Lease for all or any portion of the Premises as of the Termination Date as provided in this Section 1.6, then (x) Tenant, on the Building . Upon Termination Date, shall vacate the Terminated Space and surrender the Terminated Space to Landlord in accordance with the terms of this Lease that govern Tenant's obligations upon the expiration or earlier termination of the tenancyTerm and (y) upon the Termination Date, Tenant neither party shall deliver have any further rights or obligations hereunder with respect to the Landlord Terminated Space, except for any such rights or obligations that expressly survive a termination hereof. If Tenant exercises the Termination Option with respect to less than all keys or electronic key cards of the Premises then, on the Termination Date, (A) the Premises shall exclude the Terminated Space, (B) the Fixed Rent as set forth in Section 1.4 hereof from and passes after the Termination Date shall be reduced by an amount equal to the Fixed Rent that would have been due under this Lease for the Premises. In Terminated Space, (C) Tenant's Operating Expense Share shall be decreased by an amount (expressed as a percentage) equal to the event quotient obtained by dividing (I) the number of loss square feet of any keys or electronic key cards furnished Rentable Area in the Terminated Space, by Landlord, Tenant shall pay (II) the Landlord therefore. Tenant shall not make or cause to be made any such keys or electronic key cards and shall order all such keys or electronic key cards solely from Landlord for any additional such keys or electronic key cards over and above the keys or electronic key cards furnished by Landlord at occupancy. 34.16.4 Without the prior written consent number of Landlord, no assignee, subtenant or successor in interest square feet of Tenant shall use the name of the Project or any picture of the Project or Building in connection with or in promoting or advertising the business of Tenant except Tenant may use the address Rentable Area of the Building (other than the retail portion thereof), and (D) Tenant's Tax Share shall be decreased by an amount (expressed as a percentage) equal to the address quotient obtained by dividing (I) the number of its business. 34.16.5 Tenant shall allow no animals or pets to be brought to or remain square feet of Rentable Area in the Premises or any part thereofTerminated Space, by (II) the number of square feet of Rentable Area of the Building (including, without limitation, the prior written consent retail portion thereof). If Tenant exercises the Termination Option with respect to less than all of Landlord. 34.16.6 the Premises, then, effective as of the Termination Date, the share of chilled water capacity that Tenant agrees that it and its employees will cooperate fully with Project employees in the implementation of any security procedures for the Project. 34.16.7 Landlord reserves has the right to exclude or expel from use under Section 4.6 hereof shall be decreased by the Project any person whochilled water capacity that is then dedicated to the Terminated Space, in and the judgement share of Landlord is intoxicated or under the influence of liquor or drugs or who shall in any manner do any act in violation of any capacity of the rules and regulations Supplemental Emergency Generator System that Tenant has the right to use under Section 3.14 hereof shall be decreased by the capacity of the Project. 34.16.8 No vending machines Supplemental Emergency Generator System that is then dedicated to the Terminated Space. If Tenant exercises the Termination Option with respect to less than all of any description shall be installed, maintained or operated in a place on the Premises visible from outside the Premises, without the written consent of Landlord. 34.16.9 then Landlord and Tenant shall not: 34. 16.9.1 place any radio or television antennae on promptly thereafter execute and deliver an amendment to this Lease that memorializes the roof or on any part or the outside exclusion of the Terminated Space from the Premises or elsewhere on as provided in this Section 1.6, with the Project without Landlord’s prior written consent;understanding, however, that the failure of the parties to execute and deliver any such amendment shall not impair the effectiveness of Tenant's exercise of the Termination Option.

Appears in 1 contract

Samples: Lease (Clear Secure, Inc.)

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