Early Termination Option definition

Early Termination Option means the Lessee’s option to purchase all, but not less than all, of the Leased Property in accordance with the provisions of Section 18.1 of the Lease.

Early Termination Option. (or “ETO”) means an option in favor of a player to shorten the stated number of years covered by a Player Contract in accordance with Article XII.

Early Termination Option shall have the meaning provided in Section 20.1 of the Lease.

Examples of Early Termination Option in a sentence

• For the avoidance of doubt, in no event may a Team and a player extend, renegotiate, or include an Option Year or Early Termination Option in a Two-Way Contract or a Contract containing an Exhibit 10.

• Unless and until Lessee has exercised the Early Termination Option or the Purchase Option, no sublease may have a term that extends beyond the Base Term Expiration Date.

• The term of a Two-Way Contract may not exceed two (2) Seasons in length and may not include any Option Year or Early Termination Option.

• Notwithstanding anything herein to the contrary, the Lessee shall not be permitted to exercise the Early Termination Option following the occurrence and during the continuance of an Event of Default unless it shall (i) elect the Early Termination Option on or before ten (10) Business Days following such Event of Default, and (ii) consummate the purchase of the Leased Property by Lessee (or its designee) before twenty (20) Business Days following such Event of Default.

• If Lessee has elected the Early Termination Option with respect to one or more Items of Equipment, Lessee shall continue to make all payments of Rent due under this Lease until and including the Early Termination Payment Date.

More Definitions of Early Termination Option

Early Termination Option shall have the meaning provided in Section 14.1(a).

Early Termination Option means Lessee’s option to purchase all of Lessor’s right, title and interest in and to, and obtain release of Lessor’s security interest in, all Equipment leased under any Lease, or any lesser portion thereof specified by Lessee, as provided in Section 3.03.

Early Termination Option has the meaning provided in Section 4.2.

Early Termination Option means the Lessee’s option to purchase the Subject Property in accordance with the provisions of Section 18.1 of the Lease.

Early Termination Option shall have the meaning ascribed to it in Section 43.1 of this Lease.

Early Termination Option is defined in Article 19.

Early Termination Option. As defined in Addendum Section 48.4(b) below.