Termination or Expiration of the Lease Sample Clauses

The 'Termination or Expiration of the Lease' clause defines the conditions and procedures under which a lease agreement can end, either before its scheduled end date or upon its natural conclusion. This clause typically outlines the required notice periods, any obligations of the parties upon termination—such as returning the property in good condition or settling outstanding payments—and may specify circumstances that justify early termination, like breach of contract or mutual agreement. Its core practical function is to provide a clear framework for ending the lease, thereby minimizing disputes and ensuring both parties understand their rights and responsibilities when the lease relationship concludes.
Termination or Expiration of the Lease. In the event that the Electorate Approval is received and the Lease is terminated or expires: (A) due to a default of the Landlord or for any other reason other than a Default of the Tenant (in each case, as defined in the Lease) at any time during or after the Initial Term, then commencing with the last Business Day of the month on which the Lease is so terminated or expired and on the last Business Day of each month thereafter through the Outside Maturity Date (such period, the “Outside Maturity Date Repayment Period”), the Borrower shall cause the Outstanding Loan Amount to be repaid in installments payable on each such Repayment Date (each such payment, an “Outside Maturity Date Amortization Payment”), with the final installment in an amount equal to the entire Outstanding Loan Amount to be repaid on the Outside Maturity Date. Each Outside Maturity Date Amortization Payment shall be that amount of principal which will result in equal (as nearly as possible) aggregate Outside Maturity Date Amortization Payments over the Outside Maturity Date Period plus interest accrued and unpaid through such Repayment Date; or (B) due to any Default of the Tenant (as defined in the Lease) prior to the end of the Initial Term, then commencing with the last Business Day of the month on which the Lease is so terminated or expired and on the last Business Day of each month thereafter through the date that would have been the Maturity Date pursuant to clause (i) of the definition thereof (such period, the “Alternative Repayment Period”), the Borrower shall cause the Outstanding Loan Amount to be repaid in installments payable on each such Repayment Date (each such payment, an “Alternative Amortization Payment”), with the final installment in an amount equal to the entire Outstanding Loan Amount to be repaid on the Maturity Date. Each Alternative Amortization Payment shall be that amount of principal which will result in equal (as nearly as possible) aggregate Alternative Amortization Payments over the Alternative Repayment Period plus interest accrued and unpaid through such Repayment Date; or (C) due to any Default of the Tenant after the Initial Term, Lender may by written notice to the Borrower, declare that the entire Outstanding Loan Amount plus accrued and unpaid interest to the date of acceleration are immediately due and payable, in which case such amounts shall become immediately due and payable.
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Termination or Expiration of the Lease. In the event that the Electorate Approval is received and the Lease is terminated or expires prior to the Maturity Date for any reason whatsoever, Lender may by written notice to the Borrower, declare that the entire Outstanding Loan Amount plus accrued and unpaid interest to the date of acceleration are immediately due and payable, in which case such amounts shall become immediately due and payable.
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Related to Termination or Expiration of the Lease

  • Termination or Expiration (a) No termination of this Lease prior to the normal ending thereof, by lapse of time or otherwise, shall affect Landlord's right to collect rent for the period prior to termination thereof. (b) Except as provided in Section 18 above, at the expiration or earlier termination of the Term of this Lease, Tenant shall surrender the Demised Premises and all improvements, alterations and additions thereto, and keys therefor to Landlord, clean and neat, and in the same condition as at the Lease Commencement Date, excepting normal wear and tear, condemnation and casualty other than that required to be insured against by Tenant hereunder. (c) If Tenant remains in possession of the Demised Premises after expiration of the Term, with or without Landlord's acquiescence and without any express agreement of the parties, Tenant shall be a tenant-at-sufferance at 125% of the Base Rent in effect at the end of the Term for sixty (60) days, and thereafter at one hundred fifty percent (150%) of the Base Rent in effect at the end of the Term. Tenant shall also continue to pay all other Additional Rent due hereunder, and there shall be no renewal of this Lease by operation of law. In addition to the foregoing, Tenant shall be liable for all costs incurred by Landlord in enforcing the provisions of this Section 30. No receipt of money by Landlord from Tenant after the termination of this Lease or Tenant's right of possession of the Demised Premises shall reinstate, continue or extend the Term or Tenant's right of possession.

  • Termination or Expiration Procedure The following terms and conditions apply upon Contract termination or expiration: a. The Contractor shall cease to perform any services required by this Contract as of the effective date of termination or expiration. b. If the Contract is terminated, the Contractor shall comply with all instructions contained in the termination notice. c. The Contractor shall immediately deliver to the DSHS contact named on page one of this Contract, or to his or her successor, all DSHS property in the Contractor’s possession. The Contractor grants DSHS the right to enter upon the Contractor’s premises for the sole purpose of recovering any DSHS property that the Contractor fails to return within ten (10) calendar days of the effective date of termination or expiration of this Contract. Upon failure to return DSHS property within ten (10) calendar days, the Contractor shall be charged with all reasonable costs of recovery, including transportation. d. DSHS shall be liable only for payment required under the terms of this Contract for service rendered up to the effective date of termination or expiration. e. DSHS may withhold a sum from the final payment to the Contractor that DSHS determines necessary to protect DSHS against loss or additional liability. f. The rights and remedies provided to DSHS in this Section are in addition to any other rights and remedies provided at law, in equity, and/or under this Contract, including consequential and incidental damages.

  • Effect of Termination or Expiration Upon any termination of this ▇▇▇▇, or license granted pursuant to this ▇▇▇▇, or upon expiration of a term license: (a) all Software Licenses will immediately terminate; (b) Licensee will immediately cease all use of the Software; and (c) Licensee must either deliver to OT or destroy all copies of Software, Documentation, and OT confidential information in Licensee’s possession or control. Within 15 days after termination, an authorized representative of Licensee must certify in writing that all copies have been delivered to OT or destroyed. Any terms in this ▇▇▇▇ which by their nature extend beyond termination or expiration of this ▇▇▇▇ will remain in effect until fulfilled.

  • Delivery upon Termination or Expiration No later than the first calendar day after the termination or expiration of the Grant Agreement or upon System Agency’s request, Grantee shall deliver to System Agency all completed, or partially completed, Work Product, including any Incorporated Pre-existing Works, and any and all versions thereof. Grantee’s failure to timely deliver such Work Product is a material breach of the Grant Agreement. Grantee will not retain any copies of the Work Product or any documentation or other products or results of Grantee’s activities under the Grant Agreement without the prior written consent of System Agency.

  • Data Transfer Upon Termination or Expiration Provider will notify the Division of impending cessation of its business and any contingency plans. Provider shall implement its exit plan and take all necessary actions to ensure a smooth transition of service with minimal disruption to the Division. As mutually agreed upon and as applicable, Provider will work closely with its successor to ensure a successful transition to the new equipment, with minimal downtime and effect on the Division, all such work to be coordinated and performed in advance of the formal, transition date.