Landlord’s Option to Terminate Clause Samples

Landlord’s Option to Terminate. In the event that a part of the Property shall be subject to Condemnation (whether or not the Premises are affected), Landlord may, at its option, terminate this Lease as of the date of such vesting of title, by notifying Tenant in writing of such termination within ninety (90) days following the date on which Landlord shall have received notice of the vesting of title in the condemning authority if in Landlord’s reasonable opinion: (a) a substantial alteration or reconstruction of the Property (or any portion thereof) shall be necessary or appropriate, or (b) the portion of the Property so condemned has the effect of rendering the remainder of the Property uneconomic to maintain.

Landlord’s Option to Terminate. Notwithstanding anything to the contrary contained in this Lease, if part of the Premises is taken by any public authority under the power of eminent domain, Landlord shall have the right to terminate this Lease upon the occurrence of any of the following and upon written notice given to Tenant not later than ninety (90) days after commencement of condemnation proceedings against the Premises (or, if such proceedings are not commenced, not later than fourteen (14) days before Landlord delivers possession of the part so taken by such public authority): (a) If the taking of part of the Premises significantly and adversely affects Tenant's use of the Premises; or (b) If restoration of the remainder of the Premises cannot in Landlord's opinion be completed within 180 days after the date possession is required by the public authority; or (c) If Landlord's Condemnation Award is insufficient to the necessary restoration; or (d) If the taking (i.e., the date possession is required by the public authority) occurs within the last 180 days of the then current Term of the Lease, provided however that the Lease may not be terminated under this Subsection if Tenant's option, if any, to further extend the term of this Lease is exercised after fifteen (15) days after Tenant receives from Landlord the termination notice described above. Termination of the Lease pursuant to this Section shall be effective as of the later of the date possession is required by the public authority or sixty (60) days after Tenant receives the termination notice described above.

Landlord’s Option to Terminate. In the event of a Default, Landlord will have the option, upon seven (7) days written notice to Tenant, but not less than any required statutory period of notice, to terminate this Lease, and in the event such notice is given, this Lease will come to an end and expire upon the expiration of such notice period, but Tenant will remain liable for damages as provided herein.

Landlord’s Option to Terminate. Notwithstanding anything in this Lease to the contrary, in the event of damage to or destruction of all or any portion of the Premises which is not fully covered by the insurance proceeds (including applicable deductibles) received by Landlord or which has not been insured under the insurance policies required to be carried under the terms of this Lease, Landlord may terminate this Lease by written notice to Tenant, given within thirty (30) days after the date of notice to Landlord that said damage or destruction is not so covered. If Landlord does not elect to terminate this Lease, this Lease shall remain in full force and effect and the Premises shall be repaired and rebuilt in accordance with the provisions for repair set forth in this Section 18. If the Premises are destroyed or damaged during the last one hundred eighty (180) days of the Term, Landlord may, at Landlord’s option, cancel and terminate this Lease as of the date of occurrence of such damage by giving written notice to Tenant of Landlord’s election to do so within thirty (30) days after the date of occurrence of such damage.

Landlord’s Option to Terminate. If more than twenty percent (20%) of the Building shall be taken as aforesaid, Landlord may, by written notice to Tenant, terminate this Lease. If a portion of the Property or Common Areas is taken such that Tenant cannot, access the Leased Premises, or Landlord cannot provide parking stalls as required by this Lease for a period in excess of one hundred eighty (180) days and Landlord has failed to provide reasonable alternative parking, Tenant may terminate this Lease by delivering written notice to Landlord within thirty (30) days of the date Tenant is given written notice of such taking by Landlord. If this Lease is terminated as provided in this Section, rent shall be paid up to the day that possession is so taken by public authority and Landlord shall make an equitable refund of any rent paid by Tenant in advance.

Landlord’s Option to Terminate. If the estate of Tenant created hereby shall be taken in execution or by other process of law, or if Tenant shall be adjudicated insolvent pursuant to the provisions of any present or future insolvency law under state law, or if Tenant shall cease doing business as a going concern or generally not pay its debts as they become due, or if a receiver or trustee of the property of Tenant shall be appointed under state law by reason of Tenant's insolvency or inability to pay its debts as they become due or otherwise, or if any assignment shall be made of Tenant's property for the benefit of creditors under state law, then and in such event, Landlord may, at its option, terminate this Lease and all rights of Tenant hereunder declaring an Event of Default under Article Twelve.

Landlord’s Option to Terminate. Landlord shall have the option, exercisable in its sole and exclusive discretion subject to the terms set forth herein, to terminate the Lease prior to the scheduled expiration of the Lease Term. Landlord’s option to terminate shall be exercised, if at all, by ▇▇▇▇▇▇▇▇’s delivery to Tenant of a written notice of termination (the “Termination Notice”) setting forth the new date on which the Term of the Lease shall expire (the “Early Termination Date”), which date shall be (a) no less than nine (9) months after the date of the Termination Notice, and (b) in any event, no earlier than June 1, 2011. In such event, the Term of the Lease shall expire on the Early Termination Date, all Rent and other charges due under the Lease shall be apportioned as of the Early Termination Date, and all terms and conditions of this Lease and ▇▇▇▇▇▇’s obligations hereunder, including without limitation Tenant’s obligation to pay Rent, shall continue up to and including the Early Termination Date. Landlord hereby agrees to keep Tenant reasonably apprised of any marketing efforts undertaken by Landlord with respect to the Premises throughout the Term of the Lease, which shall include providing Tenant with copies of any third-party lease proposals, letters of intent and marketing reports issued with respect to the Premises.

Landlord’s Option to Terminate. In the event Landlord enters into a lease with ▇▇▇▇▇▇.▇▇▇ Inc., or an affiliate thereof for the Expansion Premises, Landlord may at its option terminate this Lease as to the Expansion Premises only (the “Termination Option”) effective on a date (the “Early Termination Date”) set forth in a written notice to Tenant of Landlord’s intent to terminate this Lease as to the Expansion Premises (the “Termination Notice”), which date may be any date from (and including) March 31, 2020 through March 31, 2021, provided the Termination Notice is received by Tenant no later than nine (9) full calendar months prior to the Early Termination Date. By way of example, if Landlord desires that the Early Termination Date be March 31, 2020, then to be effective the Termination Notice must be received by Tenant prior to July 1, 2019. If Landlord fails to timely deliver a Termination Notice by June 30, 2020, Landlord will be deemed to have waived the Termination Option. If Landlord properly exercises its Termination Option, this Lease shall terminate as of the Early Termination Date as to the Expansion Premises, but shall continue in full force and effect as to the remainder of the Premises.

Landlord’s Option to Terminate. If Landlord does not consent to Tenant's proposed sublease or assignment pursuant to Section 26.1 of this Section, then by written notice to Tenant at any time within Thirty (30) days after Landlord's receipt of the information specified in Section 26.2 of this Section, Landlord may, but shall not be required to elect: (i) to sublease the Premises or portion thereof so proposed to be subleased by Tenant, or to take an assignment of Tenant's leasehold estate hereunder or such part thereof as shall be specified in such notice, upon the same terms as those offered to the proposed subtenant or assignee, as the case may be; or (ii) to terminate .this Lease as to the portion of the Premises so proposed to be subleased or assigned, with a proportionate abatement in the rent payable hereunder.