Termination Options Sample Clauses

Termination Options. If the Premises or the Building are damaged by fire or other casualty Landlord will, promptly after learning of such damage, notify Tenant in writing of the time necessary to repair or restore such damage, as estimated by Landlord's architect, engineer or contractor. If such estimate states that repair or restoration of substantially all of such damage that was caused to the core and shell of the Building cannot be completed within 270 days from the date of such damage (or within 90 days from the date of such damage if such damage occurred within the last 12 months of the Term), then Tenant will have the option to terminate this Lease, provided it does so in strict accordance with this Lease. If such estimate states that repair or restoration cannot be substantially completed within 270 days from the date of such damage, or if such damage occurred within the last 12 months of the Term and such estimate states that repair or restoration cannot be substantially completed within 90 days from the date of such damage, or if such damage is not insured against by insurance policies required to be maintained, and in fact maintained by Landlord, or if Landlord cannot restore because of Laws or because the insurance proceeds were not made available to Landlord, then Landlord will have the option to terminate this Lease. Any option to terminate granted above must be exercised by written notice to the other party given within 10 days after Landlord delivers to Tenant the notice of estimated repair time. If either party exercises its option to terminate this Lease, the Term will expire and this Lease will terminate 10 days after notice of termination is delivered; provided, however, that Rent for the period commencing on the date of such damage until the date this Lease terminates will ▇▇▇▇▇ during such period in accordance with the provisions of Section 12.3 and Landlord will be entitled to all proceeds of the insurance policy described in Section 11 applicable to any damaged Alterations or deco rations in the Premises whether paid for by Landlord or Tenant.

Termination Options. (i) Anything in Subsection A of this Article to the contrary notwithstanding, if the Building shall be so damaged by fire or other casualty that: (a) Landlord is terminating leases affecting at least forty (40%) percent of the rentable square foot area of the office portion of the Building; or (b) in Landlord’s opinion either: (x) substantial alteration, demolition or reconstruction of the Building shall be required (whether or not the Premises shall have been damaged or rendered untenantable) or (y) the Building, after its repair, alteration or restoration shall not be economically viable as an office building, then in any of such events, Landlord, at Landlord’s option, may, not later than ninety (90) days following the settlement of the insurance claim (the “Determination Date”), but in no event, more than one hundred eighty (180) days after the date of the damage, give Tenant a notice in writing terminating this Lease. If Landlord elects to terminate this Lease, the Term shall expire upon the tenth (10th) day after such notice is given, and Tenant shall vacate the Premises and surrender the same to Landlord. Upon the termination of this Lease under the conditions provided for in the next preceding sentence, Tenant’s liability for Rent shall cease as of the day following such damage. (ii) In the case of any fire or other casualty which affects the Premises to such a degree that Tenant is compelled to vacate the Premises, within forty-five (45) days from the Determination Date Landlord shall deliver to Tenant a statement prepared by a reputable contractor setting forth such contractor’s good faith estimate as to the time required to repair such damage. If such estimated time exceeds twelve (12) months from the date of the casualty, Tenant may elect to terminate this Lease by giving notice to Landlord not later than thirty (30) days following Tenant’s receipt of such statement. If Tenant makes such election, the Term shall expire on the thirtieth (30th) day after such notice is given, and Tenant shall vacate the Premises and surrender the same to Landlord. If Tenant does not elect to terminate this Lease pursuant to this Subsection B(ii) (or is not entitled to terminate this Lease pursuant to this Subsection B(ii)), Landlord shall be obligated to perform such repairs. If such repairs are not completed within sixty (60) days after the expiration of the period estimated for effecting such repairs, Tenant may elect to terminate this Lease by giving notice to ...

Termination Options. If any portion of the Premises, the respective Buildings or a portion of the Project reasonably necessary for the continued use of each Building and/or the Premises are damaged by fire or other casualty Landlord will, promptly after learning of such damage, notify Tenant in writing of the time necessary to repair or restore such damage, as estimated by Landlord’s architect, engineer or contractor. If such estimate states that repair or restoration of all of such damage that was caused to a portion of the Premises or to any other portion of the Buildings or Project necessary for Tenant’s occupancy cannot be completed within 365 days from the date of such damage (or within 30 days from the date of such damage if such damage occurred within the last 12 months of the Term), then Tenant will have the option to terminate this Lease with respect to the applicable portion of the Premises affected by such damage. If such estimate states that repair or restoration of all of such damage that was caused to the Buildings or applicable portion of the Project cannot be completed within 365 days from the date of such damage, or if such damage occurred within the last 12 months of the Term and such estimate states that repair or restoration of all such damage that was caused to a portion of the Premises or to any other portion of the Buildings or the Project necessary for Tenant’s occupancy cannot be completed within 60 days from the date of such damage (provided that if Tenant has exercised, or proceeds to validly exercise an option to extend the Term within 15 business days of the occurrence of such damage, the “Term” for the purposes of the foregoing clause shall refer to the Term so extended), or if such damage is not insured against by the insurance policies required to be maintained by Landlord according to Section 9.1 (and Tenant does not agree to pay the shortfall in the cost of restoration), then Landlord or Tenant will have the option to terminate this Lease with respect to the applicable portion of the Premises affected by such damage. Any option to terminate granted above must be exercised by written notice to the other party given within 10 business days after Landlord delivers to Tenant the notice of estimated repair time. If either party exercises its option to terminate this Lease with respect to a portion of the Premises, such termination will occur 30 days after notice of termination is delivered; provided, however, that Rent for the period commencing on ...

Termination Options. (a) The City may terminate this Agreement upon twenty-five (25) days prior written notice to Operator for any reason deemed by the City to be in its interest.

Termination Options. (a) Sublessee shall have a one time right (the "First Termination Option") to terminate this Sublease, effective as of January 1, 2001, by delivering a written notice of such termination to Sublessor (the "First Termination Notice") on or prior to July 1, 2000, accompanied by Sublessee's payment to Sublessor in an amount equal to fifty percent (50%) of the Base Rent payable for the period from January 1, 2001 through the end of the Term (the "First Termination Fee"). In the event Sublessee serves the First Termination Notice, as provided above, and delivers to Sublessor the First Termination Fee, this Sublease shall terminate on December 31, 2000, and Sublessee shall, on or before such date, vacate the Subleased Premises and surrender possession thereof to Sublessor, in the manner and condition provided in the Master Lease. (b) In addition to the First Termination Option, Sublessee shall have a one time right (the "Second Termination Option") to terminate this Sublease, effective as of January 1, 2002, by delivering a written notice of such termination to Sublessor (the "Second Termination Notice")

Termination Options. Notwithstanding anything in the Lease to the contrary, effective as of the date hereof, the Termination Dates in Section 2.3.1 of the Lease pertaining to the First Termination Option shall be deleted in its entirety, and the Second Termination Option and Third Termination Option shall be deemed extended by twelve (12) months each.

Termination Options. Provided Tenant fully and completely satisfies each of the conditions set forth in this Section 2.3, Tenant shall have (i) the one-time option (“First Termination Option” to terminate Tenant’s lease of the fifteenth (15th) floor of the Building (or the lowest full floor leased by Tenant) effective as of the forty-eighth (48th) monthly anniversary of the Lease Commencement Date only (the “First Termination Option Termination Date”), (ii) the one-time option (“Second Termination Option”) to terminate Tenant’s lease of either or both of the two (2) lowest contiguous full floors leased by Tenant in the Building effective as of the sixty-sixth (66th) monthly anniversary of the Lease Commencement Date (the “Second Termination Option Termination Date”), and (iii) the one-time option (“Third Termination Option”) to terminate this Lease (as to the entire Premises) effective as of the ninety-second (92nd) monthly anniversary of the Lease Commencement Date only (the “Third Termination Option Termination Date”). The First Termination Option Termination Date, the Second Termination Option Termination Date and the Third Termination Option Termination Date are collectively referred to herein as the “Termination Dates.” The applicable space leased by Tenant that is the subject of the applicable termination right may be referred to herein as the “Terminated Space.” The Termination Dates are subject to extension as provided in Section 1.4. above.

Termination Options. If HHSC determines that CONTRACTOR has violated a material term of this Agreement; HHSC may in its sole discretion: (A) Exercise any of its rights including but not limited to reports, access and inspection under this Agreement and/or the Base Contract; and/or (B) Require CONTRACTOR to submit to a corrective action plan under Article 14 of the Base Contract, plan for monitoring and plan for reporting, as HHSC may determine necessary to maintain compliance with this Agreement; and/or (i) Provide CONTRACTOR with a period to cure the breach as determined by HHSC; or (ii) Terminate the Agreement and Base Contract immediately, and seek relief in a court of competent jurisdiction in ▇▇▇▇▇▇ County, Texas; and (iii) Before exercising any of these options, HHSC will provide written notice to CONTRACTOR describing the violation and the action it intends to take.

Termination Options. Tenant shall be entitled to terminate the Lease with respect to (a) the entire 765 Expansion Premises II, effective as of January 1, 2017, (b) the Corridor Space, effective as of January 1, 2017 and (c) the New C-Level Storage Space and the Old C-Level Storage Space (the “C-Level Spaces”), on June 30, 2014, December 31, 2015 or December 31, 2016; provided that (x) Tenant provides Landlord with no less than nine (9) months’ prior written notice and (y) concurrently with such notice, Tenant pays to Landlord an amount equal to (A) with respect to a termination of the 765 Expansion Premises II, Seventy-Three Thousand Nine Hundred Forty Seven and Fourteen and 24/100s Dollars ($73,947.24) (based on Fourteen and 44/100s Dollars ($14.44) per square foot of Rentable Area of the applicable portion of the Premises), (B) with respect to a termination the Corridor Space Fifty-Eight Thousand Forty and No/100s Dollars ($58,040.00) (based on Twenty and No/100 Dollars ($20.00) per square foot of Rentable Area of the applicable portion of the Premises) and (C) with respect to a termination of the C-Level Spaces, if terminated on June 30, 2014, Twenty Thousand Three Hundred Seventy-Eight Dollars ($20,378), if terminated on December 31, 2015, Seventeen Thousand Two Hundred Fourteen and 63/100s Dollars ($17,214.63) and if terminated on December 31, 2016, Fifteen Thousand One Hundred Eighty-Nine and 38/100s Dollars ($15,189.38). If Tenant timely exercises its option to terminate the Lease with respect to one or more of the portions of the Premises set forth in this Section, then Tenant shall surrender the applicable Premises to Landlord on the applicable surrender date in the condition required by the Amended Lease for surrendering Premises upon the expiration. Notwithstanding anything to the Amended Lease to the contrary, if Tenant terminates the 765 Expansion Premises II in accordance with this Section 7, Tenant shall demise the 765 Expansion Premises II at its expense, such demising to be performed in accordance with Applicable Laws; provided, that the foregoing requirements shall in no event be deemed to require Tenant to perform any work to conform the 765 Expansion Premises II with Applicable Laws (other than the demising thereof), except as may be expressly required by the Amended Lease. Time is of the essence with respect to the exercise of the termination options granted in this Section.