Termination Penalty definition
Examples of Termination Penalty in a sentence
If Customer is responsible for an Event of Default and fails to cure within ten (10) days of written notice (such additional cure period does not apply to default for non-payment), in addition to its other remedies, Gexa may (i) terminate this Agreement; and (ii) charge Customer the Customer Early Termination Penalty pursuant to Section 5 of this Agreement.
Early Termination Penalty will decrease by $10 per month until Contract Term is completed.
On such date, Subtenant shall pay to Sublandlord a penalty (the “Early Termination Penalty”) in the amount of $1,000,000, and Sublandlord may retain all or any remaining portion of the Security Deposit in satisfaction of the payment of the Early Termination Penalty (but not in excess of the Early Termination Penalty).
If Tenant fails to pay the Termination Penalty at the time it notifies Landlord of its intent to exercise its Termination Option the Termination Option shall be null and void and Tenant must fulfill its obligations under this Lease throughout the term.
Early Termination Penalty: Unamortized TI’s and Tenant Broker Commissions to be defined.
In the event Tenant exercises its Termination Option Tenant must pay a Termination Penalty (the “Termination Penalty”) of $10,000.00 at the time Tenant notifies Landlord of its intent to exercise its Termination Option.
At Distributors sole option, remove all of such inventory from the Premises within ten (10) days of the effective date of termination or the Supplier shall pay rent for same in an amount which the Distributor, in its sole reasonable discretion, may determine; provided, however, if such inventory is not removed in accordance with the terms of this sub-section, the Termination Penalty shall apply here with like force and effect.
Customer is liable for fees through the end of the termination period or the Early Termination Penalty whichever is greater.
Early termination prior to the end of a Service Period is subject to a Early Termination Penalty equal to the fees owed for the remaining period of the Service Order.
Subject to the Early Termination Penalty for Customer termination set forth above, either party may terminate this Agreement and a Service Order for convenience upon thirty (30) days prior written notice to the other party at any time.