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

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.

Appears in 2 contracts

Sources: Lease Agreement (Vp Merger Parent Inc), Lease Agreement (Vp Merger Parent Inc)