Mutual Break Option Clause Samples

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Mutual Break Option. Either the Landlord or the Tenant may terminate this lease by a serving a Break Notice on the other party at least 3 months before the Break Date specified in the Break Notice. Following service of a Break Notice this lease shall terminate on the Break Date. Termination of this lease on the Break Date shall not affect any other right or remedy that either party may have in relation to any earlier breach of this lease. If the Landlord leases or otherwise disposes of the Premises within one year of the Break Date to a chargepoint operator or similar which is not the Tenant (or a member of its group company), the Landlord shall pay on demand and on a full indemnity basis the amount calculated as the difference between outstanding costs of the chargepoint installation and the profits made by the chargepoint since the Rent Commencement Date as determined by the Tenant acting reasonably. If the whole or any part of the sum payable by the Tenant under this lease is unpaid for twenty one days after becoming payable (whether formally demanded or not) or if any material obligation on the part of the Tenant is not observed THEN in any such case the Landlord may re-enter the Premises (or any part of them in the name of the whole) and thereupon the tenancy created by this lease will determine but without prejudice to any rights of the Landlord in respect of any antecedent breach of any of the Tenant’s obligations in this lease PROVIDED THAT before re-entering the Premises pursuant to this clause or commencing any proceedings for forfeiture of this lease other than on the grounds that the rent is in arrears, the Landlord shall: give notice of the breach complained of in this lease; and if the Tenant confirms in writing to the Landlord within 14 days of the notice that it wishes to remedy the breach, allow the Tenant 28 days (or such longer time as may be reasonable in view of the nature of the breach) to remedy the breach.
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Mutual Break Option. 9.1 If the Tenant shall desire to determine the Term on the 31 June 2017 (“the Break Date”) (time being of the essence for such date) and shall give to the Landlord at least six months’ prior written notice to that effect (time being of the essence for such notice) then subject to the Pre-Conditions (as hereinafter defined) being satisfied the Term shall thereupon cease and determine but without prejudice to any rights or liabilities of either party in respect of any antecedent breaches of covenant by the other 9.2 For the purposes of clause 9.1 above the Pre-Conditions are that: 9.2.1 on the Break Date vacant possession of the whole of the Premises is given to the Landlord, and 9.2.2 on the Break Date there are no arrears of the Basic Rent Service Charge or Insurance Rent (in the case of Service Charge or insurance Rent which are not the subject of a bona fide dispute) under this Lease and the Landlord shall within 10 Working Days of such determination refund the Tenant the proportion of the Basic Rent, Insurance Rent and Service Charge that it has received from the Tenant in respect of the period from and including the day after the Break Date up to and excluding the next payment date calculated on a daily basis if such payment received from the Tenant related to such period 9.3 The Landlord may in its absolute discretion waive all or any of the Pre-Conditions on written notice to that effect to the Tenant 9.4 If the Landlord shall desire to determine the Term on the 31 June 2017 (“the Break Date”) (time being of the essence for such date) and shall give to the Tenant at least six months’ prior written notice to that effect (time being of the essence for such notice) then the Term shall thereupon cease and determine but without prejudice to any rights or liabilities of either party in respect of any antecedent breaches of covenant by the other
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Mutual Break Option. 1.1 Either the Landlord or the Tenant may terminate this lease by a serving a Break Notice on the other party at least 3 months before the Break Date specified in the Break Notice. 1.2 Following service of a Break Notice this lease shall terminate on the Break Date. 1.3 Termination of this lease on the Break Date shall not affect any other right or remedy that either party may have in relation to any earlier breach of this lease. 1.4 If this lease terminates in accordance with Paragraph 1.2 of this Schedule then, within 14 days after the Break Date, the Landlord shall refund to the Tenant the proportion of the Rent and any VAT thereon paid in respect of the period after the Break Date, calculated on a daily basis.
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Related to Mutual Break Option

  • Termination by Mutual Agreement This Contract may be terminated by mutual written agreement of the Parties.

  • Termination by Employee with Good Reason Employee may terminate his employment with Good Reason by providing the Company thirty (30) days’ written notice setting forth with reasonable specificity the event that constitutes Good Reason, which written notice, to be effective, must be provided to the Company within sixty (60) days of the occurrence of such event. During such thirty (30) day notice period, the Company shall have a cure right (if curable), and if not cured within such period, Employee’s termination will be effective upon the date immediately following the expiration of the thirty (30) day notice period, and Employee shall be entitled to the same payments and benefits as provided in Section 8(d) above for a termination without Cause, it being agreed that Employee’s right to any such payments and benefits shall be subject to the same terms and conditions as described in Section 8(d) above. Following such termination of Employee’s employment by Employee with Good Reason, except as set forth in this Section 8(e), Employee shall have no further rights to any compensation or any other benefits under this Agreement.

  • Termination by Mutual Agreement of the Parties Executive’s employment with the Company may be terminated at any time upon a mutual agreement in writing of the Parties. Any such termination of employment shall have the consequences specified in such agreement.

  • Termination by Executive with Good Reason Executive may terminate his employment with Good Reason by providing the Company thirty (30) days’ written notice setting forth in reasonable specificity the event that constitutes Good Reason, which written notice, to be effective, must be provided to the Company within ninety (90) days of Executives knowledge of occurrence of such event. During such thirty (30) day notice period, the Company shall have a cure right, and if not cured within such period, Executive’s termination will be effective upon the expiration of such cure period, and Executive shall be entitled to the same payments and benefits as provided in Section 8(d) hereof for a termination by the Company without Cause, subject to the same conditions on payment and benefits as described in Section 8(d) hereof. Following such termination of Executive’s employment by Executive with Good Reason, except as set forth in this Section 8(e), Executive shall have no further rights to any compensation or any other benefits under this Agreement. For the avoidance of doubt, Executive’s sole and exclusive remedy upon a termination of employment with Good Reason shall be receipt of the Severance Benefits.

  • Termination of Employment; Change in Control (i) For purposes of the grant hereunder, any transfer of employment by the Optionee within the Hexcel Group shall not be considered a termination of employment by the applicable member of the Hexcel Group. (x) If the Optionee’s employment with a member of the Hexcel Group is terminated for Cause (as defined in the last Section hereof), the Option, whether or not then vested and exercisable, shall be automatically terminated as of the date of such termination of employment. Subject to Section 5(c)(ii), if the Optionee’s employment with a member of the Hexcel Group shall terminate other than by reason of Retirement (as defined in the last Section hereof), Disability (as defined in the last Section hereof), death or Cause, the Option (to the extent then vested and exercisable) may be exercised at any time within ninety (90) days after such termination (but not beyond the Term of the Option). The Option, to the extent not then vested and exercisable, shall immediately expire upon such termination. (y) If, while employed by a member of the Hexcel Group, the Optionee dies or is terminated by a member of the Hexcel Group following Disability, the Option shall (I) become fully and immediately vested and exercisable and (II) remain exercisable for one year from the date of termination of employment on account of death or following Disability (but not beyond the Term of the Option). (z) Subject to Section 5(c)(ii), if the Optionee’s employment with a member of the Hexcel Group terminates by reason of Retirement, (A) the Option shall, if not fully vested and exercisable at the time of such termination, continue to vest and become exercisable in accordance with Section 5(b) above, and (B) the Option shall expire upon the earlier to occur of the five-year anniversary date of such Retirement and the expiration of the Term. If the Optionee dies during the five-year period immediately following the Retirement of the Optionee, the Option shall (I) become fully and immediately vested and exercisable and (II) remain exercisable for the remainder of the five-year period from the date of Retirement (but not beyond the Term of the Option).