I found the Flames agreement with the City of Glens Falls:
http://www.cityofglensfalls.com/docu...1331367910.pdf
Starts on page 41 of that PDF.
On page 48 of that PDF, under the heading 14 Notices, it says the Flames have the right to terminate the agreement (no penalties either) with the city of Glens Falls by giving written notice on or before May 1st of each year.
So they can get out of Glens Falls pretty easily at the end of this season without any obligations or having to put another hockey team there.
Pretty interesting agreement, outlines how much the Flames will pay in rent per game ($2500 plus $1.10 per non season ticket sold). Flames get 25% of concessions for the first $700k then 30% after. Flames get 100% of advertising revenues.
Also interesting that the Flames are contractually obligated to make a good faith effort of a NHL preseason game or bringing an exhibition game between the Calgary Flames and Adirondack Flames to Glens Falls.
Flames also had the rights in year 2 or 3 to hold a scheduled home game on an alternative site. Guessing for an outdoor game or perhaps a game in Calgary.