Xxxxxxxx’s Right to Terminate. Subject to the rights of a Mortgagee under Section 10.04 and Section 10.06, if Final Completion has not occurred on or before the Final Completion Date, Landlord will have the right to terminate this Lease by providing notice to Tenant at any time after the Final Completion Date notifying Tenant (with a copy to each Mortgagee) of Landlord’s intent to terminate (a “2.06 Termination Notice”) if the Final Completion of the Project does not occur by a date certain on or after the Outside Final Completion Date; provided, however, that expiration of the statutory lien period provided in Section 43-4 of the Code of Virginia will not be an element to determine whether Final Completion has occurred prior to the Outside Completion Date (or such later date for Final Completion, as provided in the 2.06 Termination Notice) if a 2.06 Termination Notice is sent. Such 2.06 Termination Notice must be provided not less than 90 days prior to the Outside Final Completion Date in order to allow Tenant to complete the Initial Construction Work by the Outside Final Completion Date, or in the event such 2.06 Termination Notice is sent on any date thereafter (i.e., less than 90 days prior to the Outside Final Completion Date), Tenant will have 90 days from the date of such 2.06 Termination Notice to achieve Final Completion. Any further delay in Final Completion resulting from Unavoidable Delays that occur after the 2.06 Termination Notice is sent will not be counted against the 90 days to achieve Final Completion. Upon expiration of the notice period, if Final Completion has not yet occurred, Tenant will provide to Landlord copies of the Plans and Specifications and such other similar materials related to the Project required to be delivered under the Comprehensive Agreement and this Lease will terminate in accordance with Article 31 of this Lease.
Xxxxxxxx’s Right to Terminate. Notwithstanding any contrary provision hereof, if Tenant breaches any of its representations, warranties or covenants hereunder, Landlord, by written notice to Tenant, may terminate Sections 1 and 2 above, in which event such Sections of this Amendment shall be of no force or effect.
Xxxxxxxx’s Right to Terminate. The Landlord shall have the right to terminate this Lease without cause upon thirty (30) days prior written notice to the Tenant.
Xxxxxxxx’s Right to Terminate. In the event that Landlord is advised in writing by any federal, state or local government or governmental authority that Landlord is subject to seizure of its property or other adverse civil or criminal liability, if it does not terminate Tenant’s right to dispense and/or sell cannabis at the Premises, or if the dispensing or sale of cannabis is declared to be unenforceable or is modified to prohibit the dispensing, sale or cultivation of cannabis upon the Premises, or if any federal, state or local governmental authority enforces or threatens to enforce any laws that prohibit the dispensing, sale or cultivation of cannabis upon the Premises, or if any other zoning regulation, rule or regulation is modified to prohibit sale, cultivation or possession of cannabis upon the Premises, Landlord may terminate this Lease at its sole discretion, without liability to Tenant.
Xxxxxxxx’s Right to Terminate. In the event that Tenant violates the conditions set forth in this Section ___ of the Lease, then, in addition to all other remedies provided to Landlord under this Lease and/or by law or equity, Landlord shall have the immediate right to terminate this Lease by giving Tenant written notice of such termination (“Termination Notice”) in which case Tenant shall surrender its Room within five (5) days of receiving such Termination Notice and forfeit the Security Deposit (notwithstanding any provision of Section ___ and any rents that have already been paid or pre-paid as of the date of the Termination Notice. In the event the residential landlord/tenant laws of the state in which the Fraternity House is located requires a longer notice period prior to termination then Tenant shall be provided the shortest amount of notice allowed under the law prior to being required to surrender the Room. For the sake of clarity, if Landlord terminates the Lease in accordance with the terms of this Section ___, Tenant shall have no right to reimbursement of the Security Deposit, or any part thereof, or to any rent (whether in advance or in arrears) paid as of the date of the Termination Notice. Any rent that is due and owing, but not yet paid, as of the date of the Termination Notice shall be due and payable within ten (10) days of the date of such Termination Notice. Housing Department Template Lease Language Revised Fall 2020
Xxxxxxxx’s Right to Terminate. LANDLORD shall have the right to terminate this Lease without cause at any time, upon ninety (90) days prior written notification to TENANT.
Xxxxxxxx’s Right to Terminate. Subject to the rights of a Mortgagee under Section 10.04 and Section 10.06, if Final Completion has not occurred on or before the Final Completion Date, Landlord shall have the right to terminate this Lease by providing notice to Tenant (with a copy to each Mortgagee) at any time thereafter of Landlord’s termination of this Lease. Upon termination of this Lease, Tenant shall provide to Landlord copies of the Plans and Specifications and such other similar materials related to the Project required to be delivered under the Comprehensive Agreement and this Lease shall terminate, subject to any provisions which specifically survive termination of this Lease.
Xxxxxxxx’s Right to Terminate. A final adjustment to Base Rent based upon the Remediation Cost shall be made at such time as the Landlord has completed remediation of the existing environmental conditions on the land on which the Project is to be developed and has obtained a No Further Action Letter with respect to such conditions. If the Remediation Cost exceeds $300,000 but does not exceed $500,000, Base Rent shall be adjusted (in addition to any other adjustment required hereunder) in the manner described in Section 37E above for the amount by which the Remediation Cost exceeds $300,000. Notwithstanding anything in this Lease to the contrary, if the Remediation Cost reasonably estimated by Landlord to complete remediation of the existing environmental conditions on the land on which the Project is to be developed (including the cost of environmental insurance) and to obtain a No Further Action letter exceeds $500,000, Landlord, by written notice to Tenant, may terminate this Lease; provided, however, that if the estimated cost is not in excess of $1,000,000, Tenant may, by written notice to Landlord within ten (10) days after receipt of Landlord’s notice of termination, elect to keep the Lease in full force and effect by agreeing to pay (i) immediately, the amount of the estimated remediation cost (including the cost of environmental insurance) in excess of $750,000 and (ii) as Additional Base Rent, the amount of the estimated remediation cost (including the cost of environmental insurance) in excess of $300,000 (not, however, to exceed $450,000) amortized at 11% over the initial Term of the Lease. If the estimated remediation cost (including the cost of environmental insurance) is in excess of $1,000,000, Landlord shall have an absolute right to terminate this Lease. Upon termination of the Lease pursuant to this Section 37F, Landlord shall refund to Tenant (A) the Base Rent and Estimated Basic Operating Costs for the first full month of the Lease Term paid by Tenant pursuant to Section 6B of this Lease, and (B) the Security Deposit paid by Tenant pursuant to Section 19 of this Lease. The Inducement Deposit shall not be refundable to Tenant.
Xxxxxxxx’s Right to Terminate. Tenant acknowledges that Landlord is still in the planning stage of development of the Building and that Landlord must still complete a number of steps and satisfy a number of requirements before it can go forward with the project (including the acquisition of fee title to the Land pursuant to Landlord's agreement with the City of Oakland). Accordingly,(a) if despite its good faith efforts, Landlord has not obtained project financing satisfactory to Landlord in its sole discretion on or before the date (the "Trigger Date") that is thirty (30) days after the date on which Landlord acquires fee title to the Land, or (b) if, despite its good faith efforts, Landlord has not obtained all necessary private and governmental approvals and permits for the project on or before the Trigger Date, or (c) if Landlord based on its analysis of market conditions and other factors, in its sole discretion, decides not to go forward with the development of the Building, then Landlord shall have the right to terminate this Lease by giving written notice of termination to Tenant within five (5) Business Days after the Trigger Date.
Xxxxxxxx’s Right to Terminate. If a substantial part of the Premises, the Building or the Land is taken or condemned by any governmental authority for any purpose or is granted to any authority in lieu of condemnation (collectively, a "taking"). Landlord shall have the right in its sole discretion to terminate this Lease by written notice to Tenant, and upon the giving of such notice, the Term shall terminate as of the date title vests in the authority, and Rent shall be abated as of that date. For purposes of this Section, a substantial part of the Premises, the Land or the Building shall be considered to have been taken if, in the sole opinion of Landlord, the taking shall render it commercially undesirable for Landlord to permit this Lease to continue or to continue operating the Building.
