ABSOLUTE RIGHT TO TERMINATE Sample Clauses
POPULAR SAMPLE Copied 2 times
ABSOLUTE RIGHT TO TERMINATE. If by fire or other casualty the Premises are damaged or destroyed to the extent of twenty five-percent (25%) or more of the insurable value thereof, or the Building is damaged or destroyed to the extent of twenty-five per cent (25%) or more of the insurable value thereof, Landlord will have the option of terminating this Lease or any renewal thereof by serving written notice upon Tenant within one hundred and eighty (180) days from the date of the casualty and any prepaid Rent or Additional Rent will be prorated as of the date of destruction and the unearned portion of such Rent will be refunded to Tenant without interest.
ABSOLUTE RIGHT TO TERMINATE. If all or a material part of the Premises, the Building or the Garage is taken for any public or quasi-public use under any governmental law, ordinance or regulation or by right of eminent domain or by purchase in lieu thereof, and the taking would prevent or materially interfere with the use of the Premises for the purpose for which they are then being used, this Lease will terminate and the Base Rent and Overhead Rent will be abated during the unexpired portion of this Lease effective on the earlier of the date physical possession is taken by the condemning authority or use of the Premises for the purpose for which they are then being used is materially interfered with. Tenant will have a claim to the condemnation award, for its personal property, trade fixtures and moving expenses.
ABSOLUTE RIGHT TO TERMINATE. If all or a material part of the Premises or the Building or the parking spaces is taken for any public or quasi-public use under any governmental law, ordinance or regulation or by right of eminent domain or by purchase in lieu thereof, and the taking would prevent or materially interfere with the use of the Premises for the purpose for which they are then being used, this Lease will terminate and the Rent will be abated during the unexpired portion of this Lease effective on the date physical possession is taken by the condemning authority and any unearned portion of Rent prepaid will be refunded to Tenant. Tenant will have no claim to the condemnation award, other than as to its Tenant Improvements, trade fixtures, moving expenses, and other out of pocket damages so long as such does not diminish the Landlord's award.
ABSOLUTE RIGHT TO TERMINATE. If all or a material part of the Premises or the Building or the parking spaces is taken for any public or quasi-public use under any governmental law, ordinance or regulation or by right of eminent domain or by purchase in lieu thereof, and the taking would prevent or materially interfere with the use of the Premises for the purpose for which they are then being used, this Lease will terminate and the Rent and Additional Rent will be abated during the unexpired portion of this Lease effective on the date physical possession is taken by the condemning authority. Tenant will have no claim to the condemnation award.
ABSOLUTE RIGHT TO TERMINATE. If all or a substantial part of material portion of the Premises or the Building are taken for any public or quasi-public use under any governmental law, ordinance or regulation or by right of eminent domain or by purchase in lieu thereof, and the taking would in Tenant's, Landlord's reasonable judgment, prevent or materially interfere with the use of the Premises for the purpose for which they are then being used, this Lease will terminate and the Rent and Additional Rent will be abated during the unexpired portion of this Lease effective on the date physical possession is taken by the condemning authority. Tenant will have no claim to Landlord's the condemnation award.
ABSOLUTE RIGHT TO TERMINATE. DURING BUYER'S EXAMINATION PERIOD. The conditions set forth in this SECTION 7 are solely for the benefit of Buyer and may be waived only by Buyer. Buyer shall at all times have the right at its sole discretion to waive any condition. Such waiver or waivers shall be in writing to Seller. The waiver by Buyer of any condition shall not relieve Seller of any liability or obligation with respect to any representation, warranty, /s/ JL /s/ [ILLEGIBLE] Purchase and Sale Agreement XXL One, Ltd., as Seller Inland Real Estate Acquisitions, Inc., as Buyer covenant or agreement of Seller. During the Buyer's Examination Period, Buyer will be conducting a review with respect to this Project so as to satisfy itself with respect to the condition of and other matters relating to this Project. During this time period, Buyer will have the absolute right to terminate this Agreement should the information and documents provided by Seller to Buyer or Buyer's evaluation and inspection of the Project result in Buyer's determination, in Buyer's sole and absolute discretion and for any or no reason whatsoever, that the Project is not suitable for Buyer's intended investment objectives. Neither the Seller nor the Buyer shall act or fail to act for the purpose of permitting or causing any condition to fail (except to the extent the Buyer, in its own discretion, exercises its right to disapprove any such items or matters). If Buyer fails to terminate this Agreement as provided above by delivering written notice to Seller, the Escrow Agent and Title Company on or before the expiration of Buyer's Examination Period, Buyer's inspection of the Property shall be deemed satisfactory to Buyer, and Buyer shall immediately be obligated to purchase the Property, subject to the provisions hereof. If Buyer terminates this Agreement in accordance with the right to terminate this Agreement pursuant to this SECTION 7, the Earnest Money shall be returned to Buyer, and neither party will ha▇▇ ▇▇▇ further rights or obligations under this Agreement, except as otherwise provided in this Agreement.