Early Termination Option Sample Clauses
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Early Termination Option. Provided that there is no Event of Default as of the date that Tenant delivers the Early Termination Notice and on the Early Termination Date (each, as hereinafter defined), Tenant shall have a one-time option to terminate this Lease (“Termination Option”) effective as of the last day of the sixty-ninth (69th) month of the Term (“Early Termination Date”), subject to and upon the following terms and conditions:
(a) Tenant shall give Landlord prior written notice (“Early Termination Notice”) of its intention to exercise the Termination Option not less than 365 days prior to the Early Termination Date (“Termination Notice Date”). If such Termination Option is validly exercised, the Lease shall terminate as of the Early Termination Date. If Tenant fails to deliver the Early Termination Notice to Landlord within the time period prescribed by this paragraph, then Tenant shall be deemed to have irrevocably waived the Termination Option and the Termination Option shall be null and void.
(b) At the time of giving the Early Termination Notice, as consideration for its exercise of the Termination Option, Tenant shall pay to Landlord a fee (the “Early Termination Fee”) in an amount equal to the unamortized portion of the following costs (“Costs”): (i) all costs incurred by Landlord in connection with the construction of the Tenant Improvements (including, but not limited to, all hard and soft costs, including architects’, engineers’ and other design professionals’ fees); (ii) all commissions paid by Landlord to Landlord’s Broker and the Tenant’s Broker; and (iii) all other costs incurred by Landlord in connection with this Lease, including, but not limited to, legal fees and expenses and permitting fees and expenses. For purposes of this Section, the Costs shall be amortized over the initial Term of the Lease at an interest rate of nine percent (9%) per annum. Following the Commencement Date, within thirty (30) days following Tenant’s request, Landlord shall provide Tenant with a calculation of the Costs and an amortization schedule of same.
(c) The Early Termination Fee shall be paid by Tenant to Landlord via certified check or by wire transfer of immediately available funds to an account designated by Landlord at the time that Tenant delivers the Early Termination Notice as prescribed herein. If Tenant delivers the Early Termination Notice but fails to deliver the Early Termination Fee as prescribed hereby, then the Early Termination Notice shall be null and void an...
Early Termination Option. OBLIGATION TO PURCHASE; MID-TERM REMARKETING OPTION
Early Termination Option. As long as no event of default exists or will exist given the passage of time or the giving of notice or both, Lessee will, with ninety (90) days prior written notice, have the option to terminate this Rental Schedule on:
a) June 21, 2001 (the "First Early Termination Date") by paying Lessor an amount equal to $376,878.87 (30% of the Acquisition Cost of the Equipment) plus all other amounts then due and payable under the Lease as of the First Early Termination Date and return the Equipment to Lessor. Such Early Termination Option purchase amount includes consideration to Lessor for Lessee's recapture of the tax benefits; or
b) June 21, 2002 (the "Second Early Termination Date") by paying Lessor an amount equal to $226,127.32 (18% of the Acquisition Cost of the Equipment) plus all other amounts then due and payable under the Lease as of the Second Early Termination Date and return the Equipment to Lessor. Such Early Termination Option purchase amount includes consideration to Lessor for Lessee's recapture of the tax benefits.
Early Termination Option. Tenant(s) in good standing (those who are in compliance with the lease) have the option to terminate this lease prior to the normal end of term or during any future renewal by providing the Landlord all of the following a) a minimum 45 day written notice, b) providing the last date of occupancy and c) submitting certified funds (Cashier’s Check, money orders or wire transfer) as an “Early Termination Fee” in the amount of 150% of one month’s rent at the time notice is provided. Rent will be prorated on a daily basis through the revised end of term. Tenant is required to conform to all other terms of the lease or the Early Termination Option will be forfeit and the tenant will be responsible for the full amount of rent as allowed by the lease.
Early Termination Option. Without limitation of the Lessee’s purchase obligation pursuant to Section 20.2, the Lessee may, at its option, on any Business Day following the Base Term Commencement Date but prior to the Lessee’s election to exercise the Return Option, purchase all, but not less than all, of the Leased Property (the “Early Termination Option”) at a price equal to the Break Even Price. In order to exercise its option to purchase the Leased Property pursuant to this Section 20.1, the Lessee shall give the Lessor not less than thirty (30) days’ prior written notice of such election which election, in each case, shall be irrevocable when made. 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. Upon receipt of the Break Even Price, the Leased Property shall be transferred to the Lessee (or its designee) pursuant to Section 23.11.
Early Termination Option. 71 Section 14.2. Required Purchase..................................................................... 72
Early Termination Option. The Termination Fee payable by Tenant upon exercise of its Termination Option as set forth in Paragraph 12 in the First Amendment (as amended) is increased to include all Leasing Costs incurred by Landlord in connection with this Amendment (using straight-line depreciation and an amortization rate of ten percent (10%) as therein set forth), plus, the Monthly Installment of Rent and Tenant’s Proportionate Share of the excess Expenses and Taxes for Suite 110 over the applicable Base Year (calendar year 2011 for Suite 110) for each of calendar months May, June and July 2012.
Early Termination Option. Tenant shall have the option (the “Early Termination Option”) to terminate this Lease by giving thirty (30) days prior written notice to Landlord at any time after February 1, 2013 (the “Early Termination Notice”), time being of the essence. If Tenant exercises the Early Termination Option, the Lease shall terminate thirty (30) days following Landlord’s receipt of Tenant’s Early Termination Notice; provided, however, the Lease shall in no event terminate before March 3, 2013.
Early Termination Option. Notwithstanding anything in the Lease to the contrary, upon Lessee’s payment on the sixth (6th) anniversary of the First Rental Payment Due Date (the “Early Termination Date”), and provided Lessee has paid and Lessor has received all rental and any other payments due under the Lease prior to the exercise of the early termination option described in this Section 10, Lessee shall have the right to, upon not less than ninety (90) days’ (or more than one hundred eighty (180) days’) prior written notice to Lessor, purchase all, but not less than all, of the Property by paying a lump sum cash payment to Lessor on the Early Termination Date in an amount equal to 32.94% of the Property Cost indicated above (the “Early Termination Purchase Price”), plus all applicable sales, use, transfer, property and other similar taxes related to the sale of the Property. Upon receipt by Lessor of the Early Termination Purchase Price on the Early Termination Date, together with any other amounts due and payable under the Lease, all in immediately available funds, Lessor shall transfer to Lessee, without recourse or warranty of any kind, express or implied, all of Lessor’s right, title and interest in and to such Property on an AS-IS, WHERE-IS basis, with all faults, except Lessor will warrant that the Property is free and clear of any liens created by Lessor or any party on its behalf. Lessee would be obligated to reimburse Lessor for all taxes, charges and expenses relating to the sale, registration, use, possession, and operation of the Property to the extent provided in the MLA. Lessor shall provide promptly to Lessee following Lessee’s request (a) wire transfer information, (b) a list of all charges and amounts due and owing by Lessee to Lessor at any relevant date in connection with the foregoing, and (c) such other information and calculations as Lessee may reasonably request in order to permit Lessee to exercise and perform the “Early Termination Option” described in this Section 10.
Early Termination Option. Landlord grants to Tenant the option (the “Termination Option”) to terminate this Lease on the last day of the 74 calendar month after the Rent Commencement Date (the “Termination Date”), which option, if exercised by Tenant, will be effective if and only if the following conditions are satisfied:
(a) Tenant delivers notice of its exercise of the Termination Option to Landlord (the “Termination Notice”) not less than 365 days before the Termination Date (the date of the Termination Notice is referred to as the “Termination Notice Date”), (b) Tenant pays the Termination Amount to Landlord on the Termination Notice Date, (c) Landlord does not either terminate this Lease or terminate Tenant’s right to possession of the Premises on or after the Termination Notice Date on account of an uncured Event of Default, and (d) on the Termination Date, Tenant pays to Landlord the amount necessary to cure any then-uncured monetary Event of Default. The Termination Notice will be irrevocable once given. Tenant will continue to perform its obligations under the Lease through the Termination Date. Furthermore, Landlord will retain its rights and remedies arising out of any Tenant default or Event of Default that is uncured on the Termination Date. “Termination Amount” means $571,930.24.