Lease Termination Payment means all sums, howsoever described, paid with respect to any rejection, termination, surrender or cancellation of any lease (including in any bankruptcy case) or any lease buy-out or surrender payment from any tenant (including any payment relating to unamortized tenant improvements and/or leasing commissions).
Lease Termination Payment means a payment made by an Obligor under a ------------------------- Lease upon the early termination of such Lease.
Lease Termination Payment means any amounts paid under Leases containing early lease termination options in favor of Tenants thereunder, in connection with the exercise of such Tenant's lease termination rights, other than amounts paid for rent and other charges in respect of periods prior to the lease termination date.
Examples of Lease Termination Payment in a sentence
Borrower shall promptly deposit each Lease Termination Payment into an Eligible Account held by Lender or any Servicer appointed by Lender (such account, the “Lease Termination Reserve”).
Within three (3) business days following the Effective Date, Tenant shall pay to Landlord in immediately available funds a portion of the Lease Termination Payment in the amount of Four Million Three Hundred Thousand and 00/100 Dollars ($ 4,300,000.00) (the “Initial Payment”); provided that Tenant shall have the right to deduct from the Initial Payment the amount of Nine Hundred Thousand Sixty and 68/100 Dollars ($910,060.68), which constitutes the amount of Rent received by Landlord for December 2022.
The Lease Termination Payment shall be paid in U.S. funds by wire transfer.
Notwithstanding the foregoing, Tenant shall have the right, at any time, to pay the Final Lease Termination Payment, whereupon Tenant's obligation to make any further Monthly Lease Termination Payments shall terminate.
The Lease Termination Payment shall be due, payable, and paid by Tenant to Landlord on the later of (i) January 5, 2024, or (ii) within five (5) Business Days following the Effective Date.
More Definitions of Lease Termination Payment
Lease Termination Payment for any Leased Site shall be determined by dividing the Cash Flow of SRG from the applicable Leased Site for the twelve (12) month period immediately preceding the date of termination of the Lease or Sublease by the total, consolidated Cash Flow of SRG for the same period, and multiplying the result by the then-current unpaid principal balance of the Loans. "Cash Flow" of SRG shall be determined as provided in the Loan Agreement. Notwithstanding the foregoing, the Lease Termination Payment shall not be payable as the result of the termination of any Lease or Sublease if, after deducting the Cash Flow of SRG from the applicable Leased Site for the twelve (12) month period immediately preceding the date of the termination, SRG is not in violation of either Section 2(a)(ii) or Section 2(b)(ii) of the Loan Agreement. RTI and GE CAPITAL acknowledge and agree that the Lease Termination Payment is a fair and reasonable estimate of the amount of damages to be incurred by GE CAPITAL in the event any of the Leases or Subleases are terminated.
Lease Termination Payment has the meaning set forth in Section 6.17.
Lease Termination Payment means a payment made by an Obligor under a Lease upon the early termination of such Lease.
Lease Termination Payment means an amount equal to the sum of the unamortized portion of the Tenant Improvement Allowance furnished by Landlord pursuant to Section 7 hereof, and legal fees (such legal fees not to exceed $1,500) incurred in connection with this Lease as amortized over the period commencing as of the Commencement Date and ending on the Expiration Date, together with interest on such unamortized amount at the rate of ten percent (10%) per annum. The Lease Termination Payment shall be delivered to Landlord concurrently with the delivery of Tenant's notice electing to terminate the Lease. If the Lease Termination Payment is not made as specified above (time being of the essence), at Landlord's election, Tenant's termination notice shall be deemed to not have been validly delivered, and this Lease shall remain in full force and effect.
Lease Termination Payment means any lease termination payment required to be made pursuant to the office lease for the premises located at 4 Century Drive, Parsippany, NJ as defined in the lease agreement between 456 Parsippany Rollup LLC and the Company.
Lease Termination Payment means any payment received by or on behalf of Borrower in connection with any early termination, cancellation or surrender of an unexpired Lease or other agreement for the use or occupancy of any portion of the Premises, including, without limitation, any cancellation or surrender payments, any reimbursement to or on behalf of Borrower of Tenant Improvements, and any reimbursement to or on behalf of Borrower of any Leasing Commissions.
Lease Termination Payment means any payment received by or on behalf of Borrower in connection with any early termination, cancellation or surrender of an unexpired Lease or other agreement for the use or occupancy of any portion of the Premises, including, without limitation, any cancellation or surrender payments, any reimbursement to or on behalf of Borrower of Tenant Improvements, and any reimbursement to or on behalf of Borrower of any Leasing Commissions. "Leasing Guidelines" shall have the meaning ascribed to such term in Section 4.6(c) hereof. "Legal Requirement" shall mean any law, statute, ordinance, order, rule, regulation, decree or other requirement of a Governmental Authority, and all conditions of any Permit. "Lender" shall have the meaning ascribed to such term in the introductory paragraph hereof. "Lender's Counsel" shall mean Xxxxxxx Xxxx & Xxxxx LLP, located in New York, New York, and any other law firm acting as counsel to Lender. "Lender's Counsel Fees" shall mean all fees and disbursements of Lender's Counsel. "Lender's Proposed Financing" shall have the meaning ascribed to such term in Section 9.3 hereof. "LIBOR" shall mean, with respect to any Interest Accrual Period, the rate per annum (rounded upwards, if necessary, to the nearest one-sixteenth (1/16th) of one percent (1%)) reported, with respect to the initial Interest Accrual Period, at 11:00 a.m. London time on the date of this Agreement (or if such date is not a Eurodollar Business Day, the immediately preceding Eurodollar Business Day), and thereafter, at 11:00 a.m. London time on the date two (2) Eurodollar Business Days prior to the first day of such Interest Accrual Period, on Telerate Access Service Page 3750 (British Bankers Association Settlement Rate) as the non-reserve adjusted London Interbank Offered Rate for U.S. dollar deposits having a thirty (30) day term and in an amount of $1,000,000 or more (or on such other page as may replace Telerate Page 3750 on that service or such other service or services as may be nominated by the British Bankers Association for the purpose of displaying such rate, all as determined by Lender in its sole but good faith discretion). In the event that (i) more than one such LIBOR is provided, the average of such rates shall apply, or (ii) no such LIBOR is published, then LIBOR shall be determined from such comparable financial reporting company as Lender in its sole but good faith discretion shall determine. LIBOR for any Interest Accrual Period shall be adjuste...