Landlord’s Termination Right definition

Landlord’s Termination Right. As defined in Section 7.2(d).
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Landlord’s Termination Right. Landlord’s Termination Right, together with Tenant’s Termination Right, may collectively be referred to in this Second Amendment as the “Termination Rights”) to terminate the Lease for the Expansion Space only, effective as of 11:59:59 p.m., Pacific Time, on the Termination Date, if for any reason (A) the first Option Term for the Existing Premises is not exercised or the initial Lease Term for the Existing Premises is not actually renewed pursuant to the Extension Option Rider, as modified herein), and (B) the initial Lease Term for the Existing Premises is otherwise not extended or renewed beyond the Expansion Space Lease Expiration Date by mutual written agreement of the parties; provided that, as a condition precedent to such early termination, Tenant shall have received written notice (the “Landlord Termination Notice”) from Landlord stating that Landlord intends to terminate the Lease for only the Expansion Space pursuant to the terms of this Section, and setting forth the Termination Fee. The timing for any such delivery by Landlord of the Landlord Termination Notice shall be as follows: (1) if such Landlord Termination Notice is pursuant to Tenant not exercising its first Option Term for the Existing Premises, then it shall be so delivered by no later than March 31, 2030, or (2) if such Landlord Termination Notice is pursuant to Tenant attempting to exercise its first Option Term for the Existing Premises but such exercise not being successful, then it shall be so delivered by the later to occur of March 31, 2030 or the date that is thirty (30) days after Landlord reasonably confirms that such exercise has not been successful (and Tenant shall reasonably cooperate with Landlord in making such confirmation, including, without limitation and if factually correct, by acknowledging in writing that any such exercise has not been successful). In any event, absent demonstrable error in the Landlord Termination Notice of Landlord’s calculation of the Termination Fee (in which case the parties shall work together in good faith to resolve such error as soon as reasonably possible), Tenant shall pay fifty percent (50%) of the Termination Fee (which shall be deemed payment in full, even though such payment is for less than the full Termination Fee) to Landlord within thirty (30) days after Tenant’s receipt of the Landlord Termination Notice or resolution of any such error, as applicable. Provided that Landlord performs all of the foregoing in accordance with t...
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Examples of Landlord’s Termination Right in a sentence

  • If Landlord does not exercise Landlord’s Termination Right with respect to any Applicable Sublease, the Sublessee thereunder may continue to occupy the Sublease for the balance of the term, but Tenant shall not extend the term, nor shall Sublessee be permitted to exercise any renewal right (and any Sublease shall specify that membership on the Medical Staff is a condition of renewal).

  • Notwithstanding anything to the contrary herein or in the Lease, and for clarification purposes, the parties hereto acknowledge and agree that nothing in this First Amendment shall reduce, limit or otherwise diminish Tenant’s right to use, occupy, and quietly possess the entirety of the Premises throughout the entire Term, except for Landlord’s Termination Right and Landlord’s right to temporarily relocate Tenant’s parking spaces (see below).

  • The parties agree that Landlord has properly exercised the Landlord’s Termination Right pursuant to the termsof the First Amendment and, accordingly, the Lease shall terminate as of 11:59 P.M. on , 20 (the “Lease Termination Date”) in accordance with the provisions of Paragraph 2 of the First Amendment.

  • CASUALTY DAMAGE 41 25.1 Landlord’s Restoration Obligation 41 25.2 Landlord’s Repair Notice 41 25.3 Landlord’s Termination Right 41 25.4 Tenant’s Termination Rights 42 25.5 Tenant’s Restoration Obligations 42 25.6 Insurance Proceeds 43 25.7 Landlord not Liable for Business Interrupt 43 25.8 Rent Abatement 43 25.9 Casualty Prior to Completion of Initial Improvements 43 25.10 Waiver 43 25.11 Tenant Improvements, Alterations and Personal Property 43 26.

  • In the event Landlord exercises Landlord’s Termination Right, the Lease shall terminate effective as of the date set forth in the Landlord Termination Notice as if such termination date were the stated expiration date of the Lease.

  • Xxxxxxxx’s right to exercise Landlord’s Termination Right shall be subject to the following timelines: • A Termination Notice served by District on Tenant on or prior to December 1, 2023, shall result in a Termination Date of June 30, 2026.

  • In the event Landlord exercises the Landlord’s Termination Right, then on or before the Lease Termination Date, Tenant shall vacate and surrender possession of the Premises to Landlord and shall relinquish all of the rights granted to it under the Lease with respect to the Premises on its behalf and on behalf of any parties claiming through it.

  • The parties agree that Landlord has properly exercised the Landlord’s Termination Right pursuant to the terms of the First Amendment and, accordingly, the Lease shall terminate as of 11:59 P.M. on ____________, 20__ (the “Lease Termination Date”) in accordance with the provisions of Paragraph 2 of the First Amendment.

  • Notwithstanding anything herein to the contrary, in no event shall Landlord’s exercise of the Landlord’s Termination Right and/or Tenant’s exercise of its Re-Occupancy Right (and/or the payment of the Re-Occupancy Fee required in connection therewith) excuse or modify Tenant’s obligation to timely pay all amounts due Landlord pursuant to this S ection 4.

  • In no way shall the terms of this subparagraph (C) be applicable in the event that Landlord exercises Landlord’s Termination Right under Section 2.4 (it being agreed any holding over beyond the Early Termination Date shall be governed solely by the terms of subparagraphs (A) and (B) above).

Related to Landlord’s Termination Right

  • Termination Right have the respective meanings given in the PRA Contractual Stay Rules.

  • Termination Option means the option of either party to terminate a transaction in the event that the other party fails to perform a Firm obligation to deliver Gas in the case of Seller or to receive Gas in the case of Buyer for a designated number of days during a period as specified on the applicable Transaction Confirmation.

  • Lease Termination Date means the last day of the Lease Term.

  • Recapture Period means the period commencing on the Effective Date and ending on the fifth anniversary of the last date that a Project owned by the Company is Placed in Service.

  • Termination Option Event means an event of a kind defined as such in Section 4.1, 4.2 or 4.8.

  • Partial Termination has the meaning set forth in the Section 6.3(a).

  • Renewal Option has the meaning set forth in §12.1.

  • Automatic Termination shall have the meaning set forth in Section 2.3.2.

  • Termination for Cause means termination because of: (1) Executive's personal dishonesty, willful misconduct, breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, willful violation of any law, rule, regulation (other than traffic violations or similar offenses), final cease and desist order or material breach of any provision of this Agreement which results in a material loss to the Institution or the Holding Company, or (2) Executive's conviction of a crime or act involving moral turpitude or a final judgement rendered against Executive based upon actions of Executive which involve moral turpitude. For the purposes of this Section, no act, or the failure to act, on Executive's part shall be "willful" unless done, or omitted to be done, not in good faith and without reasonable belief that the action or omission was in the best interests of the Institution or its affiliates. Notwithstanding the foregoing, Executive shall not be deemed to have been terminated for Cause unless and until there shall have been delivered to him a Notice of Termination which shall include a copy of a resolution duly adopted by the affirmative vote of not less than three-fourths of the members of the Board at a meeting of the Board called and held for that purpose (after reasonable notice to Executive and an opportunity for him, together with counsel, to be heard before the Board), finding that in the good faith opinion of the Board, Executive was guilty of conduct justifying Termination for Cause and specifying the particulars thereof in detail. The Executive shall not have the right to receive compensation or other benefits for any period after Termination for Cause. During the period beginning on the date of the Notice of Termination for Cause pursuant to Section 8 hereof through the Date of Termination, stock options and related limited rights granted to Executive under any stock option plan shall not be exercisable nor shall any unvested awards granted to Executive under any stock benefit plan of the Institution, the Holding Company or any subsidiary or affiliate thereof, vest. At the Date of Termination, such stock options and related limited rights and any such unvested awards shall become null and void and shall not be exercisable by or delivered to Executive at any time subsequent to such Termination for Cause.

  • Restriction Termination Date means the first day on which the Board of Directors of the Corporation determines that it is no longer in the best interests of the Corporation to attempt to, or continue to, qualify as a REIT.

  • Extended Termination Date has the meaning specified in Section 2.16(c).

  • Termination Period means the period of time beginning with a Change in Control and ending on the earlier to occur of (1) two years following such Change in Control or (2) the Executive’s death.

  • Lease Termination Payments means all payments received by or on behalf of any Seller with respect to a Lease with respect to any terminations, surrenders, modifications, renewals or amendments of any such Lease.

  • Optional Termination The termination of the trust created hereunder in connection with the purchase of the Mortgage Loans pursuant to Section 9.01(a) hereof.

  • Good Reason Termination means a termination of employment or service initiated by the Participant upon or after a Change of Control upon one or more of the following events:

  • Exercise Termination Event (i) the Effective Time (as defined in the Merger Agreement) of the Merger; (ii) termination of the Merger Agreement in accordance with the provisions thereof if such termination occurs prior to the occurrence of an Initial Triggering Event, except a termination by Grantee pursuant to Section 8.1(d) of the Merger Agreement (unless the breach by Issuer giving rise to such right of termination is non-volitional); or (iii) the passage of 12 months after termination of the Merger Agreement if such termination follows the occurrence of an Initial Triggering Event or is a termination by Grantee pursuant to Section 8.1(d) of the Merger Agreement (unless the breach by Issuer giving rise to such right of termination is non-volitional) (provided that if an Initial Triggering Event continues or occurs beyond such termination and prior to the passage of such 12-month period, the Exercise Termination Event shall be 12 months from the expiration of the Last Triggering Event but in no event more than 18 months after such termination). The "Last Triggering Event" shall mean the last Initial Triggering Event to expire. The term "Holder" shall mean the holder or holders of the Option.

  • Termination Notice means the communication issued in accordance with this Agreement by one Party to the other Party terminating this Agreement;

  • Acceleration Right means the Participant’s right, in certain circumstances, to exercise its outstanding Option as to all or any of the Common Shares in respect of which such Option has not previously been exercised and which the Participant is entitled to exercise, including in respect of Common Shares not otherwise vested at such time;

  • Terminating Event means any of the following events:

  • Without Cause Termination or “Terminated Without Cause” means termination of the Executive’s employment by the Company other than due to death, disability, or Termination for Cause.

  • Automatic Renewal Term has the meaning set forth in Section 10(a) hereof.

  • Option Term means a period, if any, through which this Agreement may be or has been extended by the JBE.

  • Non-Renewal Notice shall have the meaning set forth in Section 2.

  • Special Termination Notice means the Notice of Special Termination substantially in the form of Annex VII to this Agreement.

  • Post-Termination Period means a period of 12 months (subject to extension as set forth in Section 8(f)) following the effective date of the termination of Executive’s employment.

  • Constructive Termination means: