TENANT’S OPTION TO BREAK Clause Samples

The 'Tenant’s Option to Break' clause grants the tenant the right to terminate the lease before the agreed-upon end date, typically by providing advance written notice to the landlord. This clause usually specifies the notice period required, any conditions that must be met (such as payment of outstanding rent or a break fee), and the earliest date on which the break option can be exercised. Its core practical function is to provide flexibility for the tenant, allowing them to exit the lease early if their circumstances change, thereby reducing the risk of being locked into a long-term commitment that no longer suits their needs.
TENANT’S OPTION TO BREAK. 8.1 Subject to Clause 8.2, if the Tenant gives to the Landlord not less than 12 months' prior written notice before a Break Date then this Lease and the Contractual Term shall come to an end on the next relevant Break Date without prejudice to the parties' subsisting rights of action. 8.2 This Lease and the Contractual Term shall not come to an end on a Break Date unless at the relevant Break Date: (i) the rents reserved by this Lease and all other undisputed amounts payable under it have been paid up to and including the Break Date in cleared funds, provided that the Landlord has notified the Tenant of all such sums due as at the Break Date not later than 30 days prior to the relevant Break Date; and (ii) the Tenant yields up the whole of the Premises with vacant possession provided that the Tenant will not be in breach of this requirement if there remains on the Premises any of the Tenant's loose chattels fixtures or fittings of a minor or inconsequential nature. 8.3 Time shall be of the essence for Clauses 8.1 and 8.2 but this shall not make time of the essence for any other clause or paragraph of this Lease.
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TENANT’S OPTION TO BREAK. 6.1 Subject to clause 6.2, if the Tenant gives to the Landlord not less than nine months' written notice expiring on the Break Date specified in the Lease Details then this Lease and the term created by it shall come to an end on the Break Date without prejudice to the parties' subsisting rights of action. 6.2 This Lease and the term created by it shall not come to an end on the Break Date unless at the Break Date: (i) the rents reserved by this Lease have been paid up to and including the Break Date in cleared funds; (ii) there are no material breaches of the tenant's covenants in this Lease relating to the state of repair and condition of the demised premises; and (iii) the Tenant yields up the whole of the demised premises with vacant possession notwithstanding any licence to underlet that may have been granted by the Landlord.
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TENANT’S OPTION TO BREAK. 44.1 The Tenant may terminate this lease on the Break Date by giving to the Landlord not less than six months’ written notice. 44.2 On expiry of the notice (but subject to clause 44.3) this lease shall (without prejudice to any claim by either party in respect of any earlier breach of this lease) come to an end. 44.3 The notice shall have no effect unless the Tenant shall: 44.3.1 have paid all instalments of the Annual Rent, Service Charge and VAT thereon falling due on or before expiry of the notice (save in the case of the Service Charge and VAT thereon to the extent that the element of the Service Charge which is unpaid is the subject of a bona fide dispute); 44.3.2 on such expiry have given up occupation of the Property (meaning that the Property is free from the occupation of the Tenant, any occupiers, third party interests and any underlessees); and 44.3.3 on such expiry have procured that there is no person deriving entitlement from the Tenant who has a lawful right to occupy the Property. 44.4 The Landlord may waive any of the pre-conditions listed in clause 44.3 at any time before such expiry by notifying the Tenant. 44.5 If this lease ends on the Break Date, the Landlord shall within 14 days of the Break Date refund an appropriate proportion (in relation to the period falling after the Break Date) of any instalments of the Annual Rent, Service Charge and Insurance Rent paid in advance by the Tenant. 44.6 If this lease is determined under this clause 44 the Tenant will make application to the Land Registry to cancel any registration it has made in connection with this lease as soon as reasonably practicable following the ending of the lease under this clause. 44.7 Time will be of the essence for the purposes of this clause. 44.8 If this lease is renewed pursuant to any statutory right of the Tenant, then (without acknowledging that such right exists) this clause 44 shall not be included in any renewal lease unless expressly agreed by the parties. EXECUTED as a deed and delivered on the date stated at the beginning of it.
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TENANT’S OPTION TO BREAK. 15.1 If the Tenant shall desire to determine the term hereby granted at any time after the end of the six months from the date of this lease and shall give to the Landlord at least three months previous notice in writing of such desire ("the Break Notice") and the Tenant shall up to the expiry of the Break Notice have paid the Annual Rent and Service Charge applicable to the period from the date of this lease to the expiry of the Break Notice and shall deliver up possession on the expiry of the Break Notice then at the expiry of the Break Notice the present demise and everything herein contained shall be void and cease but without prejudice to the rights and remedies of either party in respect of any antecedent claim or breach of covenant 15.2 The Property shall be yielded up at the expiry of the Break Notice with vacant possession
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TENANT’S OPTION TO BREAK. Provided there are no arrears of Rent the Tenant may determine this Lease on the expiration of the fifth year of the term by giving to the Landlord not less than six months prior written notice and on expiry of such notice the term shall cease and determine but without prejudice to any rights or remedies that may have accrue to either party to this Lease.
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TENANT’S OPTION TO BREAK. If the Tenant shall desire to determine the Term on the 4 January 2015 (“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
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TENANT’S OPTION TO BREAK. 19.1 The Tenant may determine this lease at any time during the Term by giving to the Landlord not less than two months' prior written notice and upon the expiry of such notice the Term will end but without prejudice to the rights of either party in respect of any antecedent claim or breach of covenant arising under this Lease. 19.2 A break notice served by the Tenant shall be of no effect if at the break date: (a) the Tenant has not paid any part of the Annual Rent or any VAT in respect of it, which was due to have been paid; or (b) vacant possession of the whole of the Property is not given.
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Related to TENANT’S OPTION TO BREAK

  • Landlord’s Option to Repair Notwithstanding the terms of Section 11.1 of this Lease, Landlord may elect not to rebuild and/or restore the Premises, Building and/or Project, in which event this Lease shall terminate, by notifying Tenant in writing of such termination within sixty (60) days after the date of discovery of the damage, such notice will include a termination date giving Tenant sixty (60) days to vacate the Premises, but this Lease may be so terminated Landlord may so elect only if the Building or Project shall be damaged by fire or other casualty or cause, whether or not the Premises are affected, and one or more of the following conditions is present: (i) in Landlord’s reasonable judgment, repairs cannot reasonably be completed within one hundred eighty (180) days after the date of discovery of the damage (when such repairs are made without the payment of overtime or other premiums); (ii) the holder of any mortgage on the Building or Project or ground lessor with respect to the Building or Project shall require that the insurance proceeds or any portion thereof be used to retire the mortgage debt, or shall terminate the ground lease, as the case may be; (iii) the damage is not fully covered by Landlord’s insurance policies or that portion of the proceeds from Landlord’s insurance policies allocable to the Building or the Project, as the case may be; (iv) Landlord decides to rebuild the Building or Common Areas so that they will be substantially different structurally or architecturally; (v) the damage occurs during the last twelve (12) months of the Lease Term; or (vi) any owner of any other portion of the Project, other than Landlord, does not intend to repair the damage to such portion of the Project; provided, however, that if such fire or other casualty shall have damaged the Premises or a portion thereof or Common Areas necessary to Tenant’s occupancy and as a result of such damage the Premises are unfit for occupancy, and provided that Landlord does not elect to terminate this Lease pursuant to Landlord’s termination right as provided above, and either (a) the repairs cannot, in the reasonable opinion of Landlord’s contractor, be completed within two hundred seventy (270) days after being commenced, or (b) the damage occurs during the last twelve months of the Lease Term and will reasonably require in excess of ninety (90) days to repair, Tenant may elect, no earlier than sixty (60) days after the date of the damage and not later than ninety (90) days after the date of such damage, to terminate this Lease by written notice to Landlord effective as of the date specified in the notice, which date shall not be less than thirty (30) days nor more than sixty (60) days after the date such notice is given by Tenant.

  • Option to Lease The Receiver hereby grants to the Assuming Institution an exclusive option for the period of ninety (90) days commencing the day after Bank Closing to cause the Receiver to assign to the Assuming Institution any or all leases for leased Bank Premises, if any, which have been continuously occupied by the Assuming Institution from Bank Closing to the date it elects to accept an assignment of the leases with respect thereto to the extent such leases can be assigned; provided, that the exercise of this option with respect to any lease must be as to all premises or other property subject to the lease. If an assignment cannot be made of any such leases, the Receiver may, in its discretion, enter into subleases with the Assuming Institution containing the same terms and conditions provided under such existing leases for such leased Bank Premises or other property. The Assuming Institution shall give notice to the Receiver within the option period of its election to accept or not to accept an assignment of any or all leases (or enter into subleases or new leases in lieu thereof). The Assuming Institution agrees to assume all leases assigned (or enter into subleases or new leases in lieu thereof) pursuant to this Section 4.6. If the Assuming Institution gives notice of its election not to accept an assignment of a lease for one or more of the leased Bank Premises within seven (7) days of Bank Closing, then, not withstanding any other provision of this Agreement to the contrary, the Assuming Institution shall not be liable for any of the costs or fees associated with appraisals for the Fixtures, Furniture and Equipment located on such leased Bank Premises.

  • Option to Build If the dates designated by Developer are not acceptable to Connecting Transmission Owner, the Connecting Transmission Owner shall so notify the Developer and NYISO within thirty (30) Calendar Days, and unless the Developer and Connecting Transmission Owner agree otherwise, Developer shall have the option to assume responsibility for the design, procurement and construction of Connecting Transmission Owner’s Attachment Facilities and Stand Alone System Upgrade Facilities on the dates specified in Article 5.1.2; provided that if an Attachment Facility or Stand Alone System Upgrade Facility is needed for more than one Developer’s project, Developer’s option to build such Facility shall be contingent on the agreement of all other affected Developers. NYISO, Connecting Transmission Owner and Developer must agree as to what constitutes Stand Alone System Upgrade Facilities and identify such Stand Alone System Upgrade Facilities in Appendix A hereto. Except for Stand Alone System Upgrade Facilities, Developer shall have no right to construct System Upgrade Facilities under this option.

  • ABATEMENT OF RENT; LESSEE'S REMEDIES (a) In the event of (i) Premises Partial Damage or (ii) Hazardous Substance Condition for which Lessee is not legally responsible, the Base Rent, Common Area Operating Expenses and other charges, if any, payable by Lessee hereunder for the period during which such damage or condition, its repair, remediation or restoration continues, shall be abated in proportion to the degree to which Lessee's use of the Premises is impaired, but not in excess of proceeds from insurance required to be carried under Paragraph 8.3(b). Except for abatement of Base Rent, Common Area Operating Expenses and other charges, if any, as aforesaid, all other obligations of Lessee hereunder shall be performed by Lessee, and Lessee shall have no claim against Lessor for any damage suffered by reason of any such damage, destruction, repair, remediation or restoration. (b) If Lessor shall be obligated to repair or restore the Premises under the provisions of this Paragraph 9 and shall not commence, in a substantial and meaningful way, the repair or restoration of the Premises within ninety (90) days after such obligation shall accrue, Lessee may, at any time prior to the commencement of such repair or restoration, give written notice to Lessor and to any Lenders of which Lessee has actual notice of Lessee's election to terminate this Lease on a date not less than sixty (60) days following the giving of such notice. If Lessee gives such notice to Lessor and such Lenders and such repair or restoration is not commenced within thirty (30) days after receipt of such notice, this Lease shall terminate as of the date specified in said notice. If Lessor or a Lender commences the repair or restoration of the Premises within thirty (30) days after the receipt of such notice, this Lease shall continue in full force and effect. "Commence" as used in this Paragraph 9.6 shall mean either the unconditional authorization of the preparation of the required plans, or the beginning of the actual work on the Premises, whichever occurs first.

  • Inspection by Landlord Landlord shall have the right to inspect the Tenant Improvements at all times, provided however, that Landlord’s failure to inspect the Tenant Improvements shall in no event constitute a waiver of any of Landlord’s rights hereunder nor shall Landlord’s inspection of the Tenant Improvements constitute Landlord’s approval of the same. Should Landlord disapprove any portion of the Tenant Improvements, Landlord shall notify Tenant in writing of such disapproval and shall specify the items disapproved. Any defects or deviations in, and/or disapproval by Landlord of, the Tenant Improvements shall be rectified by Tenant at no expense to Landlord, provided however, that in the event Landlord determines that a defect or deviation exists or disapproves of any matter in connection with any portion of the Tenant Improvements and such defect, deviation or matter might adversely affect the mechanical, electrical, plumbing, heating, ventilating and air conditioning or life-safety systems of the Building, the structure or exterior appearance of the Building or any other tenant’s use of such other tenant’s leased premises, Landlord may, take such action as Landlord deems necessary, at Tenant’s expense and without incurring any liability on Landlord’s part, to correct any such defect, deviation and/or matter, including, without limitation, causing the cessation of performance of the construction of the Tenant Improvements until such time as the defect, deviation and/or matter is corrected to Landlord’s satisfaction.