Tenant’s Option to Terminate Sample Clauses
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Tenant’s Option to Terminate. (a) Within forty-five (45) days after notice to Landlord of any damage described in Section 12.1 hereof, Landlord shall deliver to Tenant a statement prepared by a reputable contractor (the "Contractor's Statement") setting forth such contractor's estimate as to the time required to repair such damage. If the estimated time period exceeds nine (9) months from the date of such statement, Tenant may elect to terminate this Lease by notice to Landlord not later than thirty (30) days following receipt of such statement. If Tenant makes such election, the Term shall expire upon a date set by Tenant, but not sooner than the tenth (10th) day nor later than the sixtieth (60th) day after notice of such election is given by Tenant, and Tenant shall vacate the Premises and surrender the same to Landlord in accordance with the provisions of Section 24.21 hereof If Tenant shall not have elected to terminate this Lease pursuant to this Article 12 (or is not entitled to terminate this Lease pursuant to this Article 12), the damage shall be diligently repaired by and at the expense of Landlord as set forth in Section 12.1 hereof Except as expressly set forth in this Section 12.3(a), Tenant shall have no other options to cancel this Lease under this Article 12.
(b) Notwithstanding the foregoing, if the Premises shall be substantially damaged during the last two (2) years of the Term and the Contractor's Statement indicates that the estimated time required to repair such damage equals or exceeds nine (9) months, either party may elect by notice, given within thirty (30) days after the occurrence of such damage, to terminate this Lease and if either party makes such election, the Term shall expire upon the thirtieth (30th) day after notice of such election is given, and Tenant shall vacate the Premises and surrender the same to Landlord in accordance with the provisions of Section 24.21 hereof
Tenant’s Option to Terminate. If the Repair Period Notice provided by Landlord indicates that the anticipated period for repairing the Casualty exceeds one hundred eighty (180) days from the date of the Casualty, Tenant may elect to terminate this Lease by providing written notice ("Tenant's Casualty Termination Notice") to Landlord within thirty (30) days after receiving the Repair Period Notice. If Tenant does not elect to terminate within this thirty-day (30-day) period, subject to the next succeeding sentence, Tenant shall be considered to have waived the option to terminate. If Tenant was eligible to deliver a Tenant's Casualty Termination Notice, but elected not to deliver the same, then if after sixty (60) days after the date specified for repair in the Repair Period Notice, the repairs are not substantially completed (as defined in this Lease), Tenant shall have the right to terminate this Lease by written notice to Landlord given within fifteen (15) days after expiration of such sixty (60) day period. In addition, if the Premises or the Building is destroyed or damaged by a Casualty during the last twelve (12) months of the Lease Term, Tenant shall have the option to terminate this Lease by giving written notice to Landlord of the exercise of that option within thirty (30) days after the Casualty.
Tenant’s Option to Terminate. If the Repair Period Notice provided by Landlord indicates that the anticipated period for repairing the Casualty exceeds two-hundred and seventy (270) days, Tenant may elect to terminate this Lease by providing written notice ("Tenant's Termination Notice") to Landlord within thirty (30) days after receiving the Repair Period Notice. If Tenant does not elect to terminate within this thirty-day (30-day) period, Tenant shall be considered to have waived the option to terminate.
Tenant’s Option to Terminate. If twenty percent (20%) or more of the Premises shall be so taken and the remaining area of the Premises shall not be reasonably sufficient for Tenant to continue feasible operation of its business, Tenant may terminate this Lease by giving Landlord notice to that effect within ninety (90) days after the Date of Taking.
Tenant’s Option to Terminate. Notwithstanding anything to the contrary in Section 11.1 or 11.2, if (a) the damage occurs during the last twelve (12) months of the Lease Term, and will take more than sixty (60) days to restore, or (b) in the reasonable judgment of Landlord, the repairs cannot be completed within eight (8) months days after the date of discovery of the damage (or are not in fact completed within nine (9) months after the date of discovery of the damage), 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, or within thirty (30) days after such repairs are not timely completed, 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.
Tenant’s Option to Terminate. Provided the Tenant is Wescom Solutions Inc. and the Tenant has not assigned this Lease and further provided the Tenant is not, at the time of issuance of the Termination Notice (as hereinafter defined) in receipt of a written notice of default from the Landlord in accordance with the provisions of this Lease which remains uncured and the time period, if any, expressly provided for in this Lease for curing same has expired and, further, provided the Tenant has delivered written notice to the Landlord on or before the expiry of the sixth (6th) year of the initial Term hereof (“Termination Notice”) and delivers contemporaneously with such Termination Notice a certified cheque in an amount equal to the then unamortized portion of the Leasehold Improvement Allowance and the Additional Allowance, if any, the First Rent Free Period and the Second Rent Free Period provided for in this Lease and any real estate commissions (selling and listing fees) payable by the Landlord in connection with this Lease, plus applicable Sales Taxes, then and only then the Tenant shall have a one time only option to advance the expiry date of this Lease to be the last day of the seventh (7th) year of the initial Term hereof (“Termination Date”). Notwithstanding the delivery of the Termination Notice and consideration, the Tenant shall be responsible for performance of all of the terms, covenants and conditions contained on its part to be performed under the terms of this Lease, including the payment of all Base Rental and Additional Rent with respect to the whole of the Leased Premises, up to and including the Termination Date. Should the Tenant fail to exercise its notice within the time and in the manner described herein, the Tenant’s option to terminate this Lease shall be null and void and of no further force or effect.
Tenant’s Option to Terminate. Notwithstanding Landlord’s requirement or election to restore the Premises, Building, and/or Project following any damage or destruction, Tenant shall have the right to terminate this Lease on ten (10) days Notice given to Landlord not more than twenty (20) days after Tenant’s receipt of Landlord’s Damage or Destruction Notice, but only if the Damage or Destruction Notice indicates that Landlord reasonably estimates restoration will take more than one hundred eighty (180) days after issuance of any required building permit. In the event Tenant so terminates this Lease, Tenant shall be entitled to retain that portion of its insurance proceeds applicable to the amortized portion of Landlord’s contribution (if any) to the costs of the Tenant Improvements, but Tenant shall assign to Landlord that portion of its insurance proceeds applicable to the Original Improvements and to the unamortized portion of Landlord’s contribution (if any) to the costs of the Tenant Improvements.
Tenant’s Option to Terminate. If damage to the Premises or to the Building renders the Premises substantially unsuitable for Tenant’s use thereof immediately prior to the occurrence of such fire or casualty, and provided that the damage was not due to the fault or neglect of Tenant or Tenant’s Agents, then Tenant may elect to terminate this Lease prior to the time such damage is repaired if and only if either:
a. Landlord fails to give written notice within sixty (60) days of said fire or casualty of its intention to restore the Premises; or
b. Landlord fails to restore the Premises to a condition suitable for the Permitted Use within one hundred eighty (180) days of said fire or casualty, provided such failure is not due to the action or inaction of Tenant, Tenant’s Agents, or causes beyond the reasonable control of Landlord. Tenant shall exercise its option to terminate by giving written notice to Landlord within thirty days after Landlord’s failure to notify or failure to restore, as specified above.
Tenant’s Option to Terminate. Tenant, at its sole option and discretion, shall have the right to terminate this Lease, effective six (6) months after notice to Landlord, without further liability hereunder except for Rent and other obligations accrued to the effective date of termination, in the event that Landlord leases space in the Property to a third party tenant whose work force is or becomes organized, whether in whole or part, by a union. Tenant may exercise this option by giving the Landlord said notice not later than thirty (30) days after Tenant first learns of the fact of organization by a union.
Tenant’s Option to Terminate. The Tenant shall have the option to terminate the lease upon nine (9) months written notice and payment of a termination fee in the amount of six (6) months rent, payable in full at delivery of notice. The Landlord shall list the property for sale or lease within thirty (30) days of said notice from Tenant. If a closing or a re-leasing takes place before six (6) months, the Landlord shall refund any unused portion of the termination fee to the Tenant.