Common use of Landlord’s Options Clause in Contracts

Landlord’s Options. If Tenant desires to effect a Transfer, then at least twenty (20) days prior to the date when Tenant desires the Transfer to be effective (the “Transfer Date”), Tenant shall deliver to Landlord written notice (“Transfer Notice”) setting forth the terms and conditions of the proposed Transfer and the identity of the proposed assignee, sublessee or other transferee (sometimes referred to hereinafter as a “Transferee”). Tenant shall also deliver to Landlord with the Transfer Notice, a current financial statement and such evidence of financial responsibility and standing as Landlord may reasonably require of the Transferee which have been certified or audited by a reputable independent accounting firm reasonably acceptable to Landlord, and such other information concerning the business background and financial condition of the proposed Transferee as Landlord may reasonably request. Except with respect to a Permitted Transfer, within fifteen (15) business days after Landlord’s receipt of any Transfer Notice, and any additional information requested by Landlord pursuant to this Section 20.2, Landlord will notify Tenant of its election to do one of the following: (a) consent to the proposed Transfer subject to such reasonable conditions as Landlord may impose in providing such consent; (b) refuse such consent, which refusal shall be on reasonable grounds; or (c) if for an assignment or sublease for seventy-five percent (75%) or more of the remainder of the Term, terminate this Lease as to such portion of the Premises which is proposed to be sublet or assigned and recapture such portion of the Premises for reletting by Landlord, which termination shall be effective as of the proposed Transfer Date. If Landlord exercises its option to terminate this Lease with respect to only a portion of the Premises following Tenant’s request for Landlord’s approval of the proposed sublease of such space, Landlord shall be responsible for the construction of any demising wall which Landlord reasonably deems necessary to separate such space from the remainder of the Premises.

Landlord’s Options. If Upon any request by Tenant desires for Landlord’s consent to effect a Transfer, then at least twenty Landlord may elect to terminate this Lease and recapture all of the Premises (20in the event of an assignment request) days prior to or the date when Tenant desires Subject Space (in the Transfer to be effective (the “Transfer Date”), Tenant shall deliver to Landlord written notice (“Transfer Notice”event of a subleasing request) setting forth the terms and conditions as of the proposed Transfer and the identity of the proposed assignee, sublessee or other transferee (sometimes referred to hereinafter as a “Transferee”). Tenant shall also deliver to Landlord with effective date set forth in the Transfer Notice, a current financial statement and such evidence of financial responsibility and standing as ; provided that Landlord may reasonably require only elect to recapture the Subject Space in the event of a subleasing request if the applicable sublease expires (assuming the exercise by the Subtenant of any renewal or extension options set forth in the relevant Sublease) during the final year of the Transferee which have been certified or audited by a reputable independent accounting firm reasonably acceptable to Landlord, and such other information concerning the business background and financial condition Term of the proposed Transferee as this Lease. Landlord may reasonably request. Except with respect to a Permitted Transfer, shall notify Tenant within fifteen thirty (1530) business days after Landlord’s receipt of any the subject Transfer Notice, Notice and any additional all other documentation and information requested by Landlord required to be provided pursuant to this Section 20.239(b) above, whether Landlord will notify Tenant of elects to exercise Landlord’s recapture right and, if not, whether Landlord consents to the requested Transfer; if Landlord does not elect to exercise its election to do one of the following: (a) recapture right, Landlord’s consent to a Transfer will not be unreasonably withheld. Without limiting the grounds upon which Landlord may reasonably withhold its consent, the parties hereby agree that it shall be reasonable under this Lease and under any applicable Law for Landlord to withhold consent to any proposed Transfer subject to such reasonable conditions as Landlord may impose in providing such consent; (b) refuse such consent, which refusal shall be on reasonable grounds; or (c) if for an assignment or sublease for seventy-five percent (75%) where one or more of the remainder of the Term, terminate this Lease as to such portion of the Premises which is proposed to be sublet or assigned and recapture such portion of the Premises for reletting by Landlord, which termination shall be effective as of the proposed Transfer Date. If Landlord exercises its option to terminate this Lease with respect to only a portion of the Premises following Tenant’s request for Landlord’s approval of the proposed sublease of such space, Landlord shall be responsible for the construction of any demising wall which Landlord reasonably deems necessary to separate such space from the remainder of the Premises.apply:

Landlord’s Options. If Tenant desires to effect proposes a Transfer, then at least twenty (20) days prior to the date when Tenant desires the Transfer to be effective (the “Transfer Date”), Tenant shall deliver to Landlord written notice (“Transfer Notice”) setting forth the terms and conditions of the proposed Transfer and the identity of the proposed assignee, sublessee or other transferee (sometimes referred to hereinafter as a “Transferee”). Tenant shall also deliver to Landlord with the Transfer Notice, a current financial statement and such evidence of financial responsibility and standing as Landlord may reasonably require of the Transferee which have been certified or audited by a reputable independent accounting firm reasonably acceptable to Landlord, and such other information concerning the business background and financial condition of the proposed Transferee as Landlord may reasonably request. Except with respect than to a Permitted TransferTransferee, within fifteen (15) business days after Landlord’s receipt of any Transfer Notice, and any additional information requested by then Landlord pursuant may elect to this Section 20.2, Landlord will notify Tenant of its election to do one of the following: (a) consent terminate this Lease as to the proposed space so affected as of the date so specified by Tenant in its notice under Section 8.1, in which event Tenant shall be relieved of all further obligations ----------- hereunder as to such space unless within ten (10) days following notice from Landlord that it has elected this option, Tenant withdraws its Transfer subject proposal; (b) permit Tenant to complete the Transfer on the terms set forth in such notice, subject, however, to such reasonable conditions as Landlord may impose in providing such consent; (b) refuse such consentrequire and to the balance of this Article 8, which refusal shall be on reasonable grounds; or (c) deny the request to --------- Transfer the Lease. Landlord shall have a period of twenty (20) days following any interview and receipt of such additional information as Landlord requests (or thirty (30) days from the date of Tenant's original notice if Landlord does not request additional information or an interview) within which to respond to Xxxxxx's request. If Landlord fails to notify Tenant in writing of such election within said period, Landlord shall be deemed to have waived options (a) and (b) above and to have elected option (c) and denied consent to the proposed Transfer. In deciding whether to consent to a proposed Transfer, Landlord may consider any factors that Landlord deems relevant, including but not limited to the following: (i) whether the use of the Premises by the proposed Transferee would be a Permitted Use; (ii) whether the proposed Transferee is of sound financial condition and has sufficient financial resources and business expertise, as determined by Landlord, to perform under this Lease; (iii) whether the proposed Transferee's use involves the storage, use, treatment or disposal of any Hazardous Materials; (iv) whether the proposed use or the proposed Transferee could cause the violation of any covenant or agreement of Landlord to any third party or sublessee or permit any other tenant to terminate its lease; (v) whether the proposed Transferee leases or occupies any other space in the Building; (vi) whether the terms of the Proposed Transfer are reasonable; and (vii) whether there is other comparable space available for lease in the Project. Failure by Landlord to approve a proposed Transfer shall not cause a termination of this Lease, and the sole remedy of Tenant shall be an assignment action for injunctive or sublease declaratory relief. Notwithstanding the foregoing, Landlord shall not have the right to recapture under Section 8.2(a) above if Tenant proposes a Transfer, which (i) -------------- when added to the space subject to any previous Transfers by Tenant shall result in total space transferred equal to less than one-third (1/3) of the Net Rentable Area in the Premises; and (ii) is for seventy-five a period of less than fifty percent (7550%) or more of the remainder remaining Term under this Lease, measured from the commencement date of the proposed Transfer; provided, however, that Landlord -------- ------- shall have right to recapture under Section 8.2(a) for any Transfer proposed -------------- during the final two (2) years of the Term, terminate this Lease as including any Extension Term although Tenant shall have the right to exercise its Extension Option (if any) in order to avoid such portion of the Premises which is proposed to be sublet or assigned and recapture such portion of the Premises for reletting by Landlord, which termination shall be effective as of the proposed Transfer Date. If Landlord exercises its option to terminate this Lease with respect to only a portion of the Premises following Tenant’s request for Landlord’s approval of the proposed sublease of such space, Landlord shall be responsible for the construction of any demising wall which Landlord reasonably deems necessary to separate such space from the remainder of the Premisesrecapture.

Landlord’s Options. If Upon any request by Tenant desires for Xxxxxxxx’s consent to effect a Transfer, then at least twenty Landlord may elect to terminate this Lease and recapture all of the Premises (20in the event of an assignment request) days prior to or the date when Tenant desires Subject Space (in the Transfer to be effective (the “Transfer Date”), Tenant shall deliver to Landlord written notice (“Transfer Notice”event of a subleasing request) setting forth the terms and conditions as of the proposed Transfer and the identity of the proposed assignee, sublessee or other transferee (sometimes referred to hereinafter as a “Transferee”). Tenant shall also deliver to Landlord with effective date set forth in the Transfer Notice, a current financial statement and such evidence of financial responsibility and standing as ; provided that Landlord may reasonably require only elect to recapture the Subject Space in the event of a subleasing request if the applicable sublease expires (assuming the exercise by the Subtenant of any renewal or extension options set forth in the relevant Sublease) during the final year of the Transferee which have been certified or audited by a reputable independent accounting firm reasonably acceptable to Landlord, and such other information concerning the business background and financial condition Term of the proposed Transferee as this Lease. Landlord may reasonably request. Except with respect to a Permitted Transfer, shall notify Tenant within fifteen thirty (1530) business days after Landlord’s receipt of any the subject Transfer Notice, Notice and any additional all other documentation and information requested by Landlord required to be provided pursuant to this Section 20.239(b) above, whether Landlord will notify Tenant of elects to exercise Landlord’s recapture right and, if not, whether Landlord consents to the requested Transfer; if Landlord does not elect to exercise its election to do one of the following: (a) recapture right, Xxxxxxxx’s consent to a Transfer will not be unreasonably withheld. Without limiting the grounds upon which Landlord may reasonably withhold its consent, the parties hereby agree that it shall be reasonable under this Lease and under any applicable Law for Landlord to withhold consent to any proposed Transfer subject to such reasonable conditions as Landlord may impose in providing such consent; (b) refuse such consent, which refusal shall be on reasonable grounds; or (c) if for an assignment or sublease for seventy-five percent (75%) where one or more of the remainder of the Term, terminate this Lease as to such portion of the Premises which is proposed to be sublet or assigned and recapture such portion of the Premises for reletting by Landlord, which termination shall be effective as of the proposed Transfer Date. If Landlord exercises its option to terminate this Lease with respect to only a portion of the Premises following Tenant’s request for Landlord’s approval of the proposed sublease of such space, Landlord shall be responsible for the construction of any demising wall which Landlord reasonably deems necessary to separate such space from the remainder of the Premises.apply:

Landlord’s Options. If Tenant desires to effect proposes a Transfer, Transfer then at least twenty (20) days prior to the date when Tenant desires the Transfer to be effective (the “Transfer Date”), Tenant shall deliver to Landlord written notice (“Transfer Notice”) setting forth the terms and conditions of the proposed Transfer and the identity of the proposed assignee, sublessee or other transferee (sometimes referred to hereinafter as a “Transferee”). Tenant shall also deliver to Landlord with the Transfer Notice, a current financial statement and such evidence of financial responsibility and standing as Landlord may reasonably require of the Transferee which have been certified or audited by a reputable independent accounting firm reasonably acceptable elect to Landlord, and such other information concerning the business background and financial condition of the proposed Transferee as Landlord may reasonably request. Except with respect to a Permitted Transfer, within fifteen (15) business days after Landlord’s receipt of any Transfer Notice, and any additional information requested by Landlord pursuant to this Section 20.2, Landlord will notify Tenant of its election to do one of the following: (a) consent terminate this Lease pursuant to the proposed following paragraph as of the date specified by Tenant in its notice under Section 8.1, in which event Tenant shall be relieved of all further obligations hereunder as to such space; (b) permit Tenant to complete the Transfer subject on the terms set forth in such notice, subject, however, to such reasonable conditions as Landlord may impose in providing such consent; (b) refuse such consent, which refusal shall be on reasonable groundsrequire and to the balance of this Article 8; or (c) deny the request to Transfer the Lease. Landlord shall have a period of twenty (20) days following any interview and receipt of such additional information as Landlord requests (or thirty (30) days from the date of Tenant’s original notice if for Landlord does not request additional information or an assignment or sublease for seventy-five percent (75%interview) or more of the remainder of the Term, terminate this Lease as within which to such portion of the Premises which is proposed respond to be sublet or assigned and recapture such portion of the Premises for reletting by Landlord, which termination shall be effective as of the proposed Transfer DateXxxxxx’s request. If Landlord exercises its option fails to terminate this Lease with respect to only a portion of the Premises following Tenant’s request for Landlord’s approval of the proposed sublease notify Tenant in writing of such spaceelection within said period, Landlord shall be responsible for deemed to have waived option (a) above and to have denied consent to the construction proposed Transfer. In deciding whether to consent to a proposed Transfer, Landlord may consider any factors that Landlord deems relevant, including but not limited to the following: (i) whether the use of the Premises by the proposed Transferee would be a Permitted Use; (ii) whether the proposed Transferee is of sound financial condition and has sufficient financial resources and business expertise, as determined by Landlord, to perform under this Lease; (iii) whether the proposed Transferee’s use involves the storage, use, treatment or disposal of any demising wall which Hazardous Materials; (iv) whether the proposed use or the proposed Transferee could cause the violation of any covenant or agreement of Landlord reasonably deems necessary to separate such any third party or sublessee or permit any other tenant to terminate its lease; (v) whether the proposed Transferee leases or occupies any other space from in the remainder Building; (vi) whether the terms of the PremisesProposed Transfer are reasonable; and (vii) whether there is other comparable space available for lease in the Project. Failure by Landlord to approve a proposed Transfer shall not cause a termination of this Lease, and the sole remedy of Tenant shall be an action for injunctive or declaratory relief.

Landlord’s Options. If Tenant desires to effect a Transfer, then at least twenty fifteen (2015) days prior to the date when Tenant desires the Transfer to be effective (the “Transfer Date”), Tenant shall deliver to Landlord written notice (“Transfer Notice”) setting forth the terms and conditions of the proposed Transfer and the identity of the proposed assignee, sublessee or other transferee (sometimes referred to hereinafter as a “Transferee”). Tenant shall also deliver to Landlord with the Transfer Notice, a current financial statement and such evidence of financial responsibility and standing as Landlord may reasonably require of the Transferee which have been certified or audited by a reputable independent accounting firm reasonably acceptable to Landlordrequire, and such other information concerning the business background and financial condition of the proposed Transferee as Landlord may reasonably request. Except with respect to a Permitted Transfer, within fifteen (15) business days after of Landlord’s receipt of any Transfer Notice, and any additional information requested by Landlord pursuant to this Section 20.2, Landlord will notify Tenant of its election to do one of the following: (a) consent to the proposed Transfer subject to such reasonable conditions as Landlord may impose in providing such consent; (b) refuse such consent, which refusal shall be on reasonable grounds; or (c) if for an assignment or sublease for seventy-five percent (75%) or more of the remainder of the Term, terminate this Lease as to all or such portion of the Premises which is proposed to be sublet or assigned by Tenant and recapture all or such portion of the Premises which is proposed to be sublet or assigned by Tenant for reletting by Landlord, which termination shall be effective as of the proposed Transfer DateDate provided, however, if Landlord refuses to grant such consent and elects to terminate the Lease as to such portion of the Premises, Tenant shall have the right within fifteen (15) days after notice of Landlord’s exercise of its right to terminate to withdraw Tenant’s request for such consent and remain in possession of the Premises under the terms and conditions hereof. If Landlord exercises its option to terminate this the Lease with respect to only a portion of the Premises following Tenant’s request for Landlord’s approval of the proposed sublease of such spacespace (and Tenant has not withdrawn such request for consent), Landlord shall be responsible for the construction of any demising wall which Landlord reasonably deems necessary to separate such space from the remainder of the Premises.

Landlord’s Options. If Tenant desires to effect a Transfer, then at least twenty thirty (2030) days prior to the date when Tenant desires the Transfer to be effective (the “Transfer Date”), Tenant shall deliver to Landlord written notice (“Transfer Notice”) setting forth the terms and conditions of the proposed Transfer and the identity of the proposed assignee, sublessee or other transferee (sometimes referred to hereinafter as a “Transferee”). Tenant shall also deliver to Landlord with the Transfer Notice, a current financial statement and such evidence of financial responsibility and standing as Landlord may reasonably require of the Transferee which have been certified by a financial officer of such Transferee and or audited by a reputable independent accounting firm reasonably acceptable to Landlord(if such is the normal practice of such Transferee), and such other information concerning the business background and financial condition of the proposed Transferee as Landlord may reasonably request. Except with respect to a Permitted Transfer, within fifteen (15) business days after Landlord’s receipt of any Transfer Notice, and any additional information requested by Landlord pursuant to this Section 20.2, Landlord will notify Tenant of its election to do one of the following: (a) consent to the proposed Transfer subject to such reasonable conditions as Landlord may impose in providing such consent; (b) refuse such consent, which refusal shall be on reasonable grounds; or (c) if for an assignment or sublease for seventy-five percent (75%) or more of the remainder of the Term, terminate this Lease as to such portion of the Premises which is proposed to be sublet or assigned and recapture such portion of the Premises for reletting by Landlord, which termination shall be effective as of the proposed Transfer Date. If Notwithstanding the foregoing, Landlord exercises its option may only terminate the Lease and recapture the Premises in the event Tenant desires to terminate this Lease with respect to only effect a portion Transfer of the entire Premises following Tenant’s request for Landlord’s approval substantially all of the proposed sublease of such space, Landlord shall be responsible for the construction of any demising wall which Landlord reasonably deems necessary to separate such space from the remainder remaining Term of the PremisesLease.

Landlord’s Options. If Tenant requests Landlord's consent to an ------------------ assignment of the Lease or subletting of all or a part of the Building, it shall submit to Landlord in writing at least sixty (60) days in advance of the date on which Tenant desires to effect a Transfermake such assignment or sublease, then at least twenty (20) days prior to the date when Tenant desires the Transfer to be effective (the “Transfer Date”), Tenant shall deliver to Landlord written notice (“Transfer Notice”) setting forth the terms and conditions name of the proposed Transfer assignee or subtenant. Landlord shall have the option (to be exercised within thirty (30) days from submission of Tenant's written request), (a) to permit Tenant's to assign or sublet such space, provided, however, that if the rental rate agreed upon by and between Tenant and the identity proposed subtenant under any proposed sublease of the proposed assigneePremises (or any part thereof) is greater than the rental rate being currently paid by Tenant to Landlord, sublessee or other transferee (sometimes referred to hereinafter as a “Transferee”). Tenant shall also deliver to must pay Landlord with the Transfer Notice, a current financial statement and such evidence of financial responsibility and standing as Landlord may reasonably require hereunder for that portion of the Transferee which have been certified Premises that is subject to such proposed sublease, or audited if any consideration shall be received by a reputable independent accounting firm reasonably acceptable Tenant in connection with such proposed assignment or sublease (in addition to rental as provided in such proposed sublease), then fifty percent (50%) of such excess rental or such consideration, as the case may be (or both), shall be considered additional rent owed by Tenant to Landlord, and such other information concerning shall be paid by Tenant to Landlord, in the business background and financial condition case of excess rentals, in the proposed Transferee as Landlord may reasonably request. Except with respect to a Permitted Transfersame manner that Tenant pays Monthly Rent and, within fifteen (15) business days after Landlord’s receipt in the case of any Transfer Noticeother consideration, and any additional information requested immediately upon receipt thereof by Landlord pursuant to this Section 20.2, Landlord will notify Tenant of its election to do one of the following: (a) consent to the proposed Transfer subject to such reasonable conditions as Landlord may impose in providing such consentTenant; or (b) to refuse such consent, which refusal shall be on reasonable grounds; or (c) if for an to consent to Tenant's assignment or sublease for seventy-five percent (75%) or more subleasing of the remainder of the Term, terminate such space and to continue this Lease in full force and effect as to such portion of the Premises which is proposed to be sublet or assigned and recapture such portion of the Premises for reletting by Landlord, which termination shall be effective as of the proposed Transfer Dateentire Leased Premises. If Landlord exercises should fail to notify Tenant in writing of such election within such thirty (30) day period, Landlord shall be deemed to have elected option (b) above. Notwithstanding the foregoing, Landlord shall not unreasonably withhold its option consent to terminate this Lease with respect to only an assignment of lease or a subletting by Tenant of all or a portion of the Premises following Tenant’s request for Landlord’s approval Building. In the event of the proposed sublease transfer and assignment by Landlord of such spaceits' interest in this Lease and the Premises, Landlord shall be responsible for the construction of released from any demising wall which Landlord reasonably deems necessary further (but not then accrued) obligation hereunder and Tenant agrees to separate look solely to such space from the remainder successor in interest of the PremisesLandlord for performance of such further obligations that may arise after the date of such transfer and assignment.