Termination Options Sample Clauses

Termination Options. (i) Anything in Subsection A of this Article to the contrary notwithstanding, if the Building shall be so damaged by fire or other casualty that: (a) Landlord is terminating leases affecting at least forty (40%) percent of the rentable square foot area of the office portion of the Building; or (b) in Landlord’s opinion either: (x) substantial alteration, demolition or reconstruction of the Building shall be required (whether or not the Premises shall have been damaged or rendered untenantable) or (y) the Building, after its 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 ninety (90) days following the settlement of the insurance claim (the “Determination Date”), but in no event, more than one hundred eighty (180) days after the date of the damage, give Tenant a notice in writing terminating this Lease. If Landlord elects to terminate this Lease, the Term shall expire upon the tenth (10th) day after such notice is given, and Tenant shall vacate the Premises and surrender the same to Landlord. Upon the termination of this Lease under the conditions provided for in the next preceding sentence, Tenant’s liability for Rent shall cease as of the day following such damage. (ii) In the case of any fire or other casualty which affects the Premises to such a degree that Tenant is compelled to vacate the Premises, within forty-five (45) days from the Determination Date Landlord shall deliver to Tenant a statement prepared by a reputable contractor setting forth such contractor’s good faith estimate as to the time required to repair such damage. If such estimated time exceeds twelve (12) months from the date of the casualty, Tenant may elect to terminate this Lease by giving notice to Landlord not later than thirty (30) days following Tenant’s receipt of such statement. If Tenant makes such election, the Term shall expire on the thirtieth (30th) day after such notice is given, and Tenant shall vacate the Premises and surrender the same to Landlord. If Tenant does not elect to terminate this Lease pursuant to this Subsection B(ii) (or is not entitled to terminate this Lease pursuant to this Subsection B(ii)), Landlord shall be obligated to perform such repairs. If such repairs are not completed within sixty (60) days after the expiration of the period estimated for effecting such repairs, Tenant may elect to terminate this Lease by giving notice to ...

Termination Options. If the Premises or the Building are damaged by fire or other casualty Landlord will, promptly after learning of such damage, notify Tenant in writing of the time necessary to repair or restore such damage, as estimated by Landlord's architect, engineer or contractor. If such estimate states that repair or restoration of all of such damage that was caused to the Premises or to any other portion of the Building necessary for Tenant's occupancy cannot be completed within 180 days from the date of such damage (or within 30 days from the date of such damage if such damage occurred within the last 12 months of the Term), then Tenant will have the option to terminate this Lease. If such estimate states that repair or restoration of all of such damage that was caused to the Building cannot be completed within 180 days from the date of such damage, or if such damage occurred within the last 12 months of the Term), then Tenant will have the option to terminate this Lease. If such estimate states that repair or restoration of all of such damage that was caused to the Building cannot be completed within 30 days from the date of such damage, or if such damage occurred within the last 12 months of the Term and such estimate states that repair or restoration of all such damage that was caused to the Premises or to any other portion of the Building necessary for Tenant's occupancy cannot be completed within 30 days from the date of such damage, or if such damage is not insured against by the insurance policies required to be maintained by Landlord according to Section 9.1, then Landlord will have the option to terminate this Lease. Any option to terminate granted above must be exercised by written notice to the other party given within 10 days after Landlord delivers to Tenant the notice of estimated repair time. If either party exercises its option to terminate this Lease, the Term will expire and this Lease will terminate 10 days after notice of termination is delivered; provided, however, that Rent for the period commencing on the date of such damage until the date this Lease terminates will be reduced to the reasonable value of any use or occupation of the Premises by Tenant during such period and Landlord will be entitled to all proceeds of the insurance policy described in Section 9.2(b) applicable to any damaged leasehold improvements in the Premises.

Termination Options. If the Premises or the Building are damaged by fire or other casualty Landlord will, promptly after learning of such damage, notify Tenant in writing of the time necessary to repair or restore such damage, as estimated by Landlord's architect, engineer or contractor. If such estimate states that repair or restoration of all of such damage that was caused to the Premises or to any other portion of the Building necessary for Tenant's occupancy cannot be completed within 180 days from the date of such damage (or within 30 days from the date of such damage if such damage occurred within the last 12 months of the Term), then Tenant will have the option to terminate this Lease, If such estimate states that repair or restoration of all of such damage that was caused to the Building cannot be completed within 180 days from the date of such damage, or if such damage occurred within the last 12 months of the Term and such estimate states that repair or restoration of all such damage that was caused to the Premises or to any other portion of the Building necessary for Tenant's occupancy cannot be completed within 30 days from the date of such damage, or if such damage is not insured against by the insurance policies required to be maintained by Landlord according to Section 9.1, then Landlord will have the option to terminate this Lease. Any option to terminate granted above must be exercised by written notice to the other party given within 10 days after Landlord delivers to Tenant the notice of estimated repair time. If either party exercises its option to terminate this Lease, the Term will expire and this Lease will terminate 10 days after notice of termination is delivered; provided, however, that Rent for the period commencing on the date of such damage until the date this Lease terminates will be reduced to the reasonable value of any use or occupation of the Premises by Tenant during such period.

Termination Options. (a) The City may terminate this Agreement upon twenty-five (25) days prior written notice to Operator for any reason deemed by the City to be in its interest.

Termination Options. Tenant shall have the following termination options: 3.1. In addition to the termination rights set forth in Sections 2.1 and 3.8 hereof, Tenant shall be entitled to terminate the Amended Lease with respect to the 777-02 Premises as of December 31, 2015, or December 31, 2016; provided that Tenant (a) provides Landlord with no less than twelve (12) months’ prior written notice and (b) pays (on or before the effective date of such termination) to Landlord a termination fee of (i) if the termination date is December 31, 2015, Seven Hundred Eighty-Six Thousand Seven Hundred Sixty Dollars ($786,760) or (ii) if the termination date is December 31, 2016, Six Hundred Ninety-Four Thousand Two Hundred Dollars ($694,200). If Tenant timely exercises its option to terminate the Amended Lease with respect to the 777-02 Premises, then Tenant shall surrender the 777-02 Premises to Landlord on the applicable surrender date in the condition required by the Amended Lease for surrendering Premises upon the expiration or earlier termination thereof and the Amended Lease (with respect to the 777-02 Premises) shall terminate and be of no further force or effect as of the termination date, except for those provisions that expressly survive the expiration or earlier termination thereof. 3.2. Tenant shall be entitled to terminate the Amended Lease with respect to the 777 S-Level Corridor Premises as of December 31, 2015, or December 31, 2016; provided that Tenant (a) provides Landlord with no less than twelve (12) months’ prior written notice and (b) pays (on or before the effective date of such termination) to Landlord a termination fee of (i) if the termination date is December 31, 2015, Thirteen Thousand Seven Hundred Thirty-One and 89/100 Dollars ($13,731.89) or (ii) if the termination date is December 31, 2016, Twelve Thousand One Hundred Sixteen and 37/100 Dollars ($12,116.37). If Tenant timely exercises its option to terminate the Amended Lease with respect to the 777 S-Level Corridor Premises, then Tenant shall surrender the 777 S-Level Corridor Premises to Landlord on the applicable surrender date in the condition required by the Amended Lease for surrendering Premises upon the expiration or earlier termination thereof and the Amended Lease (with respect to the 777 S-Level Corridor Premises) shall terminate and be of no further force or effect as of the termination date, except for those provisions that expressly survive the expiration or earlier termination thereof. 3.3. ...

Termination Options. (a) If the Heliport cease to function as an active heliport (i) for at least two (2) months as a result of government or legal ruling, or (ii) for at least six (6) consecutive months as a result of unsafe decking, as determined pursuant to Section 4.02(c), then Operator shall have the right to terminate this Agreement effective upon two (2) month’s written notice to Agreement Administrator, which may be given as soon as one week after said cessation begins, provided, however, that the parties agree to use commercially reasonable efforts to resolve any issues with respect to such cessation of operations prior to terminating this Agreement pursuant to this Section 7.04(a). (b) The City may terminate this Agreement upon twenty five (25) days prior written notice to Operator for any reason deemed by the City to be in its interest.

Termination Options. (a) Sublessee shall have a one time right (the "First Termination Option") to terminate this Sublease, effective as of January 1, 2001, by delivering a written notice of such termination to Sublessor (the "First Termination Notice") on or prior to July 1, 2000, accompanied by Sublessee's payment to Sublessor in an amount equal to fifty percent (50%) of the Base Rent payable for the period from January 1, 2001 through the end of the Term (the "First Termination Fee"). In the event Sublessee serves the First Termination Notice, as provided above, and delivers to Sublessor the First Termination Fee, this Sublease shall terminate on December 31, 2000, and Sublessee shall, on or before such date, vacate the Subleased Premises and surrender possession thereof to Sublessor, in the manner and condition provided in the Master Lease. (b) In addition to the First Termination Option, Sublessee shall have a one time right (the "Second Termination Option") to terminate this Sublease, effective as of January 1, 2002, by delivering a written notice of such termination to Sublessor (the "Second Termination Notice")

Termination Options. Notwithstanding anything in the Lease to the contrary, effective as of the date hereof, the Termination Dates in Section 2.3.1 of the Lease pertaining to the First Termination Option shall be deleted in its entirety, and the Second Termination Option and Third Termination Option shall be deemed extended by twelve (12) months each.

Termination Options. Provided Tenant fully and completely satisfies each of the conditions set forth in this Section 2.3, Tenant shall have (i) the one-time option (“First Termination Option” to terminate Tenant’s lease of the fifteenth (15th) floor of the Building (or the lowest full floor leased by Tenant) effective as of the forty-eighth (48th) monthly anniversary of the Lease Commencement Date only (the “First Termination Option Termination Date”), (ii) the one-time option (“Second Termination Option”) to terminate Tenant’s lease of either or both of the two (2) lowest contiguous full floors leased by Tenant in the Building effective as of the sixty-sixth (66th) monthly anniversary of the Lease Commencement Date (the “Second Termination Option Termination Date”), and (iii) the one-time option (“Third Termination Option”) to terminate this Lease (as to the entire Premises) effective as of the ninety-second (92nd) monthly anniversary of the Lease Commencement Date only (the “Third Termination Option Termination Date”). The First Termination Option Termination Date, the Second Termination Option Termination Date and the Third Termination Option Termination Date are collectively referred to herein as the “Termination Dates.” The applicable space leased by Tenant that is the subject of the applicable termination right may be referred to herein as the “Terminated Space.” The Termination Dates are subject to extension as provided in Section 1.4. above.

Termination Options. (a) If: (i) as of the end of the most recent calendar year the actual Cost of Production for such calendar year, on a per Ton basis, for any reason other than force majeure exceeds the actual Cost of Production, on a per Ton basis, for the prior calendar year by more than twenty-five percent (25%), provided that the per Ton Cost of Production for purposes of this paragraph shall be determined exclusive of the effects of any special energy generation-related taxes such as a carbon-based tax, BTU-based tax or severance tax any of which is greater than that imposed in the prior calendar year, and provided, further, that the actual Cost of Production for the most recent calendar year shall be adjusted to reflect the impact on the price per Ton resulting from a change of more than five percent (5%) in the tonnage delivered from the prior calendar year, as determined by mutual agreement of the Parties, when computing under this paragraph the per Ton Cost of Production differences from one calendar year to the next; or (ii) Falkirk materially breaches any of the terms, conditions or provisions, resulting in an event of default as defined in any Loan or Lease and Falkirk fails to remedy such breach before the parties (other than Falkirk) to such Loan or Lease are permitted by such Loan or Lease to exercise their rights with respect to an event of default thereunder; or (iii) there exists at any time and for any reason other than force majeure any deficiency in deliveries of coal in excess of twenty percent (20%) of the amount required to be delivered hereunder during the immediately preceding six (6) month period or in excess of ten percent (10%) of the amount required to be delivered hereunder during the immediately preceding twelve (12) month period; or (iv) by reason of Falkirk's default in performing its obligations under any Loan or Lease and after ten (10) days' notice of its intention to do so, GRE or a third party pays or directly assumes Falkirk's obligation under any such Loan or Lease, then GRE at its option may acquire certain assets of Falkirk pursuant to the Option Agreement. Upon the acquisition of such assets by GRE or its nominee pursuant to said Option Agreement, this Agreement shall terminate. (b) Notwithstanding anything in this Section 12 to the contrary, GRE shall not have the option to acquire certain assets of Falkirk pursuant to the Option Agreement or otherwise if an event of the nature described in Section 12(a) hereof shall have occurre...