Common use of Landlord’s Option to Terminate Clause in Contracts

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. 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 ▇▇▇▇▇▇▇▇Landlord’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 ▇▇▇▇▇▇Tenant’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. Landlord shall have the optionoption to ------------------------------ terminate this Lease effective as of December 31, exercisable 1999 (the "Early Termination ----------------- Date") by delivering written notice (the "Termination Notice") of such election ---- ------------------ to Tenant on or before January 1, 1999. If Landlord delivers the Termination Notice to tenant the Lease shall be deemed to have expired by lapse of time on the Early Termination Date and Tenant shall return the Premises to Landlord on the Early Termination Date in its sole and exclusive discretion subject accordance with the terms of the Lease. Tenant shall not be released from the payment of rent or any other obligations accruing prior to the terms set forth herein, Early Termination Date. If Landlord so exercises its option to terminate the Lease prior to and if Tenant vacates the scheduled expiration Premises on or before the Early Termination Date and is not in default of any of its monetary obligations under the terms of the Lease Term. Landlord’s option to terminate shall be exercised, if at all, by ▇▇▇▇▇▇▇▇’s delivery to Tenant or in Default of a written notice any of termination (its non-monetary obligations under the “Termination Notice”) setting forth the new date on which the Term terms of the Lease shall expire Lease, Landlord shall, within thirty (the “Early Termination Date”), which date shall be (a30) no less than nine (9) months days 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 pay to Tenant a termination fee (the "Termination Fee") --------------- in an amount equal to the sum of the Annual Base Rent, Operating Adjustment Rent and other charges due Tax Adjustment Rent accruing under the Lease during the preceding twelve (12) months. Tenant acknowledges that the Termination Fee shall be apportioned not include any amounts paid orpayable by Tenant in connection with the Construction Loan (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 defined in Appendix D 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).