TerminationAgreement合同终止协议8doc.docx
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TerminationAgreement合同终止协议8doc.docx
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TerminationAgreement合同终止协议8doc
TerminationAgreement合同终止协议-
ThisTerminationAgreement(thisAGREEMENT),datedasof_________(M/D/Y),isenteredintobyandbetweenAAA,a_________(Placename)charitablecorporationwithamailingaddressof_________(AAA),andBBB,INC.,a_________(Placename)corporationwithamailingaddressof_________(BBB).WHEREAS,TechnologySquareLLC,predecessor-in-interesttoAAA,aslandlord,andBBB,astenant,executedthatcertainleasedated_________(M/D/Y),asamended(theBUILDING_________LEASE)forpremisesconsistingofapproximately_________rentablesquarefeet(theBUILDING_________PREMISES)ofthebuildinglocatedat_________;WHEREAS,pursuanttoSection1oftheRidertotheBuilding_________Lease,BBBdeliveredtoAAAaletterofcreditissuedbyChaseManhattanBankintheamountof$,_________securingBBB’sobligationsundertheBuilding_________(Number)Lease(theBUILDING_________LCWHEREAS,TechnologySquareLLC,predecessor-in-interesttoAAA,aslandlord,andBBB,astenant,executedthatcertainleasedated_________(M/D/Y)andsigned_________(M/D/Y)(theBUILDING_________LEASEandtogetherwiththeBuilding500Lease,theLEASES)forpremisesconsistingofapproximately_________rentablesquarefeet(theBUILDING_________PREMISESandtogetherwiththeBuilding_________Premises,thePREMISES)ofthebuildinglocatedat_________;WHEREAS,pursuanttoSection1oftheRidertoLease,BBBdeliveredtoAAAaletterofcreditissuedbyUBSPaineWebberInc.(theISSUER)intheamountof$,_________securingBBB’sobligationsundertheLease(theBUILDING_________(Number)LCWHEREAS,totheknowledgeoftheRealEstateDepartmentatAAA,AAAhasnotreceivednoticefromtheIssuerthattheBuilding_________LChasexpiredorhasbeenterminated;WHEREAS,AAAandBBBdesiretoterminatetheLeasespriortotheendofthetermsthereof,butonlyuponcompliancewiththetermsandconditionscontainedherein.NOW,THEREFORE,inordertosettleanddisposeof,fullyandcompletely,anyandallclaims,demandsandcauseorcausesofactionnowexistingorhereafterarisingoutof,inconnectionwith,orincidentaltotheterminationoftheLeasesorthePremises,andinconsiderationforthemutualpromisescontainedhereinandforothergoodandvaluableconsideration,thereceiptandsufficiencyofwhicharemutuallyacknowledged,AAAandBBBagree,effectiveasofthedatehereof,asfollows:
1.Recitals.Theforegoingrecitalsareherebyincorporatedhereinbyreferenceandacknowledgedastrueandcorrectbythepartieshereto.2.Termination.(a)ProvidedthatBBBhascompliedwithitsobligationscontainedinSection3below,effectiveasof_________(M/D/Y)(theBUILDING_________TERMINATIONDATE),timebeingoftheessence,theBuilding_________Leaseshallterminate.Excepttotheextentinconsistentwiththetermshereof,including,butnotliAAAedto,thepostingofsecurityforBBB’sobligationsthereunder,fromandafterthedatehereofanduntiltheSurrenderDate(hereinafterdefined),BBBshallobserveandperformeachofthecovenantsandprovisionsoftheBuilding500LeasetobeperformedbyBBB,includingwithoutliAAAationthepaymentofYearlyRentandadditionalrent.(b)ProvidedthatBBBcomplieswiththerequirementsofSection3below,effectiveasofthedatehereof,theBuilding600Leaseisherebyterminated.3.TerminationPayment.(a)InconsiderationfortheterminationoftheBuilding_________Lease,BBBshallpaytoAAAtheamountof$,_________(theBUILDING_________TERMINATIONPAYMENT).TheBuilding_________TerminationPaymentshallbepaidasfollows:
AAAshallapply$,_________ofthe$,_________cashsecuritydepositheldbyAAAundertheBuilding_________Lease.Thebalanceofthecashsecuritydeposit($,_________)shallbeappliedtotheBuilding_________TerminationPayment.Withinone
(1)businessdayafterthedatehereof,AAAshallreturntheoriginalBuilding_________LCtoBBB.(b)InconsiderationfortheterminationoftheBuilding_________Lease,BBBshallpaytoAAAtheamountof$,_________(theBuilding_________TerminationPayment).TheBuilding_________TerminationPaymentshallbepaidasfollows:
(i)AAAshalldrawdowntheentireBuilding_________LC($,_________);(ii)AAAwillapplythebalanceoftheproceedsfromthecashsecuritydepositfortheBuilding_________Lease($,_________)followingpaymentoftheBuilding_________TerminationPayment;and(iii)BBBshallpaythebalanceoftheBuilding_________TerminationPaymenttoAAA(netofanyproratarentcreditforMarchRentoradditionalrentactuallypaidbyBBBpursuanttotheBuilding_________Lease)viawiretransfer(whichwiretransferBBBshallinitiateonorbefore_________p.m.onthedatefirstwrittenabove,timebeingoftheessence,inaccordancewiththewiringinstructionsattachedheretoasExhibitAandincorporatedherein(theWIRINGINSTRUCTIONS).4.VacationofPremises.(a)Subjecttodelaysduetogovernmentalregulation,unusualscarcityoforinabilitytoobtainlaborormaterials,labordifficulties,casualtyorothercausesreasonablybeyondBBB’scontrolwhichadverselyaffectBBB’sabilityeithervacateoroccupynewpremises,BBBshallfullyvacatetheBuilding_________Premisesonorbefore_________(M/D/Y)(suchdate,asitmaybeextendedduetosucheventsand/orcauses,ishereinafterreferredtoastheSCHEDULEDSURRENDERDATEthedateonwhichBBBactuallyvacatestheBuilding_________PremisesishereinafterreferredtoastheSURRENDERDATE).Notwithstandinganycontrarytermherein,BBBshallhavenofurtherrightswithrespecttotheuseoftheBuilding_________PremisesfromandaftertheBuilding_________TerminationDate.BBBshallsurrenderandrelinquishallrightswithrespecttoallparkingspacesappurtenanttotheBuilding_________Premises(includingwithoutliAAAationtheparkingpassesassociatedtherewith)andshallsurrendertheBuilding_________Premises(a)freeofalloccupants;(b)inbroomcleancondition;and(c)reeofallmovablepersonaltyandequipment;and(d)otherwiseinitscurrentASIScondition.BBBreservestherighttoremoveitsgenerator,NOC,antenna,andUPS.BBBshallusegoodfaithcommerciallyreasonableeffortstoidentifyandprocurenewpremisesandtoavoidanydelayswhichwouldcauseBBBtoholdoveraftertheBuilding_________TerminationDate.(b)BBBshallimmediatelyvacatetheBuilding_________Premisesinitscurrentasiscondition,andsurrenderandrelinquishallrightswithrespecttoallparkingspacesappurtenantthereto(includingwithoutliAAAationtheparkingpassesassociatedtherewith).5.Holdover.IntheeventBBBfailstocomplywiththetermsofthisAgreement(otherthanthefailuretovacatetheBuilding_________PremisesinaccordancewiththeprovisionsofSection4(a)above)orrepossesses(orattemptstorepossess)theBuilding_________PremisesatanytimeafterthedatehereofortheBuilding_________PremisesatanytimeaftertheSurrenderDate,AAAshallhavetherighttoretainanyandallpaymentsmadebyBBBpursuanttothisAgreementandalsoshallhaveanyandallotherrightsandremediesavailabletoAAAundertheLeasestorecoverthePremises,atlawandinequity,excepttotheextentinconsistentwiththetermsofthisAgreement.Inaddition,BBBandanyoneclaimingunderBBBremaininginpossessionoftheBuilding_________Premisesoranypartthereofafterthedatehereof,oroftheBuilding_________PremisesoranypartthereofaftertheBuilding_________TerminationDateshallbedeemedatenant-at-sufferanceonly,atthedailyrateof_________%oftheRentandadditionalrentdueundertherespectiveLeasesimmediatelypriortotherespectiveterminationdates(theFINALRENTRATE)duringthefirstmonth,200%oftheFinalRentRateduringthesecondmonthand_________%oftheFinalRentRatethereafter;providedthat,notwithstandinganyoftheforegoingtothecontrary,butsubjecttothefollowingsentence,BBBshallremainliableforalldamages,includingwithoutliAAAationalldirectdamages,incurredbyAAAasaresultofsuchholdover.Notwithstandingtheforegoing,BBBshallnotbeliableforconsequentialdamagesincurredbyAAAbaseduponanyholdoverbyBBBaftertheScheduledSurrenderDateunlesssuchholdovercontinuesforninety(90)ormoresaysaftertheScheduledSurrenderDate.NothinginthisSectionshallbeconstruedtoperAAAsuchholdingover.6.Indemnification.NotwithstandinganyotherprovisionofthisAgreement(including,withoutliAAAation,anyreleasesorwaivers)ortheLeasestothecontrary,BBBagreestoindemnify,defendandholdAAAharmlessfromandagainstanyandallactions,costs,claims,damages,expenses(includingwithoutliAAAationattorneys’,consultants’andexperts’fees,courtcostsandamountspaidinsettlementofanyclaimsoractions),fines,forfeitures,orothercivil,administrativeorcriminalpenalties,injunctiveorotherrelief,liabilitiesorlosseswhichAAAmayincurwithrespectto(i)thepaymentofanyoutstandingchargesduefromBBBinconnectionwithutilitiesandotherservicesrenderedtotheBuilding_________Premises(orrelatingthereto)priortotheSurrenderDateifBBBhasfailedtopaysame;and(ii)subjecttoSection5above,thebreachordefaultintheperformanceofanyobligationonBBB’sparttobeperformedunderthetermsofthisAgreement.7.Releases.ExceptastosuchrightsorclaimsasmaybecreatedorotherwisepreservedbythisAgreement,andexceptforindemnificationsbyBBBsetforthinSections15.3(a),15.3(b)and15.3(c)oftheBuilding_________Lease(excludinghoweveranyindemnityreferencedthereinforTenant’
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