Election to Terminate Sample Clauses

Election to Terminate. In the event the Project is damaged by fire, explosion, or any other casualty, the Company shall be entitled to terminate this Agreement.

Election to Terminate. In the event Buyer desires to terminate this Agreement and the Escrow for any reason or for no reason whatsoever, Buyer may elect to terminate this Agreement and the Escrow at any time: (a) by giving Seller written notice of Buyer’s election to terminate (“Buyer’s Election to Terminate”), not later than 5:00 p.m. PST on the date of expiration of the Investigation Period; (b) by failing to timely deliver to Seller Buyer’s Election Not to Terminate pursuant to Section 4.3 hereof, which failure shall be deemed to constitute Buyer’s Election to Terminate this Agreement and the Escrow pursuant to this Section 4.2; and/or (c) by failing to timely deliver to Escrow Holder the Second Deposit pursuant to Section 4.3 hereof, which failure shall be deemed to constitute Buyer’s Election to Terminate this Agreement and the Escrow pursuant to this Section 4.2. In the event of any election (including any deemed election) by Buyer to terminate this Agreement and the Escrow pursuant to this Section 4.2, this Agreement shall automatically terminate (other than those provisions which expressly provide that they survive any termination of this Agreement). Within two (2) Business Days after Buyer delivers Buyer’s Election to Terminate to Seller pursuant to this Section 4.2 (or within two (2) Business Days after Buyer is deemed to have elected to terminate this Agreement and the Escrow pursuant to this Section 4.2, as applicable), and without the need of any further authorization or consent from Seller, Escrow Holder shall cause to be paid to Buyer the Initial Deposit, together with all interest accrued thereon. Seller and Buyer shall execute such cancellation instructions as may be necessary to effectuate the cancellation of the Escrow, as may be required by Escrow Holder. Any escrow cancellation, title cancellation or other cancellation costs in connection therewith shall be borne equally by Buyer and Seller.

Election to Terminate. Subject to Section 4.1(d) hereof, in the event the Project is damaged by fire, explosion, or any other casualty, the Sponsor shall be entitled to terminate this Fee Agreement; provided, however, that (i) if there has been only partial damage of the Project due to any of such casualties and the Sponsor elects to terminate this Fee Agreement, and (ii) the Sponsor has not invested at least $2,500,000.00 in the Project at the time of such termination, the Sponsor shall owe the County the Retroactive Tax Payment, but to the extent permitted by law if the Sponsor has invested at least $2,500,000.00 in the Project within the time period required under the Act, it shall owe no Retroactive Tax Payment.

Election to Terminate. No such re-entry or taking possession of said Premises by Landlord shall be construed as an election on its part to terminate this Lease unless a written notice of such intention be given to Tenant or unless the termination thereof be decreed by a court of competent jurisdiction. Notwithstanding any such re-letting without termination, Landlord may, at any time thereafter, elect to terminate this Lease for such previous breach.

Election to Terminate. Landlord shall have the sole and absolute right to terminate this Lease in the event any of the following events occur: (a) (i) the improvements on the Premises are damaged by an insured casualty to the extent of at least fifty percent (50%) of the cost to repair or replace at the time of loss without deduction for physical depreciation ("Replacement Cost") other than a casualty event occurring during the last three (3) years of the Term or (ii) the Shopping Center, (whether or not the Premises are a part thereof), is damaged by an insured casualty to the extent of at least fifty percent (50%) of Replacement Cost during the Term other than during the last three (3) years of the Term; or (b) the improvements on the Premises or the Shopping Center (whether or not the Premises are a part thereof), are damaged by an insured casualty to the extent of at least ten (10%) of the Replacement Cost during the last three (3) years of said Term or (c) the improvements on the Premises or the Shopping Center (whether or not the Premises are a part thereof), are damaged by an uninsured cause at any time during the Term, or (d) the improvements on the Premises or the Shopping Center (whether or not the Premises are a part thereof), are damaged by and insured casualty or by an uninsured cause during any extension or renewal of the Term. Landlord shall, within not more than ninety (90) days after notice of any such casualty under section 10.2, notify Tenant of Landlord's election either to terminate this Lease or to restore the improvements on the Premises and/or such portion of the improvements in the balance of the Shopping Center as in Landlord's sole discretion is necessary to create an economically feasible commercial unit. If Landlord elects to repair or restore the damaged improvements, then with respect to the Premises, Landlord and Tenant each shall restore them in the same manner and to the same extent as work was done by each of them in the original construction and fixturizing of the improvements. If Landlord elects not to restore as aforesaid, this Lease shall terminate effective as of the date of such casualty upon the giving of notice of such election by Landlord. If Landlord elects to restore or fails to give notice of its election as aforesaid, then this Lease shall remain in full force and effect.

Election to Terminate. If either Party has the right to terminate under Sections 14.3 through 14.6, it may at its sole option, elect either to (a) terminate this Agreement and pursue any legal or equitable remedy available to it or (b) maintain this Agreement in effect and pursue any legal or equitable remedy available to it.

Election to Terminate. After the occurrence and during the continuance of any of the events specified below, Old Dominion shall have the right, at its option, so long as no Event of Default shall have occurred and be continuing, upon at least 30 days' (one day's in the case of a Burdensome Tax Law Change) prior written notice to the Facility Owner, the Owner Trustee, the Owner Participant and the Agent to terminate this Operating Equipment Agreement on the Termination Date specified in such notice (which shall be a date occurring not more than 90 days after such notice in the case of the events described in clauses (a) and (b) below and a date occurring not more than three days after such notice in the case of an event described in clause (c) below) if: (a) it shall have become illegal for Old Dominion to continue this Operating Equipment Agreement or the Operating Foundation Agreement or for Old Dominion to make payments under this Operating Equipment Agreement or the Operating Foundation Agreement and the transactions contemplated by the Operative Documents cannot be restructured in a manner reasonably acceptable to the Transaction Parties; (b) one or more events outside the control of Old Dominion shall have occurred which, in the reasonable judgment of Old Dominion, will give rise to an obligation by Old Dominion to pay or indemnify in respect of Section 8.1 or 8.2 of the Participation Agreement or the Tax Indemnity Agreement; PROVIDED, HOWEVER, that (i) the indemnity obligation (and the underlying cost or Tax) can be avoided in whole or in part by such termination and (ii) the amount of such avoided payments would exceed (on a present value basis, discounted annually at the Debt Rate, to the date of the termination) 2.5 percent of the sum of the Equipment Interest Cost and the Foundation Interest Cost. If the Owner Participant shall waive its right to amounts of indemnification payments in respect of Section 8.1 or 8.2 of the Participation Agreement or the Tax Indemnity Agreement in excess of such amount as to cause such avoided payments, computed in accordance with the preceding sentence, not to exceed 2.5 percent of the sum of the Equipment Interest Cost and the Foundation Interest Cost, no such termination option in favor of Old Dominion shall exist; or (c) a Burdensome Tax Law Change shall occur. If Old Dominion does not give notice of its exercise of the termination option under this Section 13.1 within six months (two days in the case of an event described in clause (...

Election to Terminate. If during any Level I Period, Level II Period, Level III Period, Level IV Period or Level V Period (i) the obligation of any Lender to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Lender has demanded compensation under Section 8.03 or 8.04, the Borrower may elect to terminate this Agreement as to such Lender, and in connection therewith not to borrow any Loan hereunder from such Lender or to prepay any Base Rate Loan made pursuant to Section 8.02 or 8.05 (without altering the Commitments or Loans of the remaining Lenders); provided that the Borrower (i) notifies such Lender through the Agent of such election at least two Euro-Dollar Business Days before any date fixed for such borrowing or such a prepayment, as the case may be, and (ii) repays all of such Lender’s outstanding Loans, accrued interest thereon and any other amounts then due to such Lender or accrued for its account hereunder concurrently with such termination. Upon receipt by the Agent of such notice, the Commitment of such Lender shall terminate.

Election to Terminate. The election to terminate the Partnership made in writing by all Partners; or