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Termination Option
Termination Option contract clause examples
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Tender Option Termination Events. (a) Without notice, on or prior to any Purchase Date, Mandatory Tender Date, or Optional Disposition Date, upon the occurrence of any of the following events (each a “Tender Option Termination Event”), the Tender Option will be terminated as provided below:

Termination of Employment or Service Relationship Other Than Due to Retirement, Death, Disability or Cause. Unless the Option has earlier terminated, the Option shall terminate in its entirety, regardless of whether the Option is vested, ninety (90) days after the date the Participant ceases to provide Services for any reason other than, as applicable, the Participant's Retirement, death, Disability or termination for Cause. Except as provided in paragraphs (b), (c) or (d) of this Section, any portion of the Option that is not vested at the time the Participant ceases to provide Services shall immediately terminate.

The Option shall terminate and may no longer be exercised after the first to occur of # the close of business on the Option Expiration Date, # the close of business on the last date for exercising the Option following termination of the Participant’s Service as described in Section 7, or # a Change in Control to the extent provided in Section 8.

Early Termination Option. Tenant shall have an option (the “Early Termination Option”) to terminate the term of this Lease without cause effective as of the seventh (7th) anniversary of the Full Rent Date (the “Early Termination Date”) by giving Landlord written notice of Tenant’s election to exercise the Early Termination Option not less than twelve (12) months prior to the Early Termination Date. As a condition to the effectiveness of Tenant’s notice exercising the Early Termination Option Tenant shall pay Landlord, concurrently with such notice, a termination fee equal to $2,750,000.00 plus any portion of Landlord’s Moving Contribution, as defined in Section 3.3(d), that has not yet been repaid to Landlord as of the Early Termination Date.

Except as provided below or as otherwise determined by the Committee, an Option may only be exercised while the Grantee is employed by, or providing service to, the Employer (as defined below in [Section 5(f)(v)(C)]) as an Employee, Non-Employee Director, Key Advisor, Affiliate Employee, or Nonresident Alien Employee.

Lessor Termination Option. If a Hazardous Substance Condition (see Paragraph 9.1(e)) occurs during the term of this

The Option hereby granted shall terminate and be of no force and effect with respect to any Option Shares not previously purchased by the Optionee at the earliest time specified below:

The Option shall terminate and may no longer be exercised after the first to occur of # the close of business on the Option Expiration Date, # the close of business on the last date for exercising the Option following termination of the Participant’s Service as described in Section 7, or # a Change in Control to the extent provided in Section 8.

Lessor Termination Option. If a Hazardous Substance Condition (see Paragraph 9.1(e)) occurs during the term of this Lease, unless Lessee is legally responsible therefor (in which case Lessee shall make the investigation and remediation thereof required by the Applicable Requirements and this Lease shall continue in full force and effect, but subject to Lessor’s rights under Paragraph 6.2(d) and Paragraph 13), Lessor may, at Lessor’s option, either # investigate and remediate such Hazardous Substance Condition, if required, as soon as reasonably possible at Lessor’s expense, in which event this Lease shall continue in full force and effect, or # If the estimated cost to remediate such condition exceeds 12 times the then monthly Base Rent or $100,000, whichever is greater, give written notice to Lessee, within 30 days after receipt by Lessor of knowledge of the occurrence of such Hazardous Substance Condition, of Lessor’s desire to terminate this Lease as of the date 60 days following the date of such notice. In the event Lessor elects to give a termination notice, Lessee may, within 10 days thereafter, give written notice to Lessor of Lessee’s commitment to pay the amount by which the cost of the remediation of such Hazardous Substance Condition exceeds an amount equal to 12 times the then monthly Base Rent or $100,000, whichever is greater. Lessee shall provide Lessor with said funds or satisfactory assurance thereof within 30 days following such commitment. In such event, this Lease shall continue in full force and effect, and Lessor shall proceed to make such remediation as soon as reasonably possible after the required funds are available. If Lessee does not give such notice and provide the required funds or assurance thereof within the time provided, this Lease shall terminate as of the date specified in Lessor’s notice of termination.

The Option shall terminate and may no longer be exercised after the first to occur of # the close of business on the Option Expiration Date, # the close of business on the last date for exercising the Option following termination of the Participant’s Service as described in Section 7, or # a Change in Control to the extent provided in Section 8.

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