Landlord’s Recapture Rights. At any time within twenty (20) business days after Landlord's receipt of all (but not less than all) of the information and documents described in Section 14.02 above, Landlord may, at its option by written notice to Tenant, elect to: (a) sublease the Premises or the portion thereof proposed to be sublet by Tenant upon the same terms as those offered to the proposed subtenant; (b) take an assignment of the Lease upon the same terms as those offered to the proposed assignee; or (c) terminate the Lease in its entirety or as to the portion of the Premises proposed to be assigned or sublet, with a proportionate adjustment in the Rent payable hereunder if the Lease is terminated as to less than all of the Premises. If Landlord does not exercise any of the options described in the preceding sentence, then, during the above-described twenty (20) business day period, Landlord shall either consent or deny its consent to the proposed assignment or subletting.
Landlord’s Recapture Rights. Notwithstanding any other provision of this Article, if Tenant desires to assign, sublease or otherwise transfer to any person or entity (other than an Affiliate) any interest in this Lease or the Premises or any part thereof, then Tenant shall deliver to Landlord a written request for consent, together with all of the information specified in Section 11.05 above. If such transfer (together with all other assignments, subleases or transfers then in effect) would affect more than fifty percent (50%) of the Rentable Area of the Premises in the aggregate (such total affected portion of the Rentable Area of the Premises being referred to herein as the “Recapture Space”), then Landlord shall have the option to recapture the Recapture Space, which option shall be exercisable only by giving written notice to Tenant (“Recapture Notice”) within fifteen (15) days after Landlord’s receipt of Tenant’s request for consent. Upon Landlord’s timely delivery of a Recapture Notice to Tenant, Tenant shall have the right, for up to fifteen (15) days following receipt of such Recapture Notice, to withdraw Tenant’s written request for Landlord’s consent which triggered Landlord’s option to recapture by written notice to Landlord. If Tenant withdraws Tenant’s written request for Landlord’s consent as provided herein, this Lease shall continue in full force and effect. If Landlord exercises its option to recapture and Tenant does not withdraw its written request for Landlord’s consent as provided herein, this Lease shall terminate with respect to the Recapture Space effective on the date that is specified in Tenant’s request for consent as the effective date of the proposed transfer. Landlord’s recapture rights shall be subject to the rights of any assignee, subtenant or other transferee of Tenant, as set forth in any assignment, sublease or other transfer agreement to which Landlord previously has consented, but subject to the terms and conditions set forth in Landlord’s consent thereto; any such assignment, sublease or other transfer agreement shall be assigned to Landlord as of the effective date of Landlord’s recapture.
Landlord’s Recapture Rights. Except with regard to a Permitted Transfer, at any time within ten (10) business days after Landlord’s receipt of all (but not less than all) of the information and documents described in Section 10.2, Landlord shall have the right (but not the obligation), exercisable by written notice to Tenant, to elect to cancel and terminate this Lease.
Landlord’s Recapture Rights. Landlord shall have the option to terminate this Lease upon the occurrence of any of the following events:
Landlord’s Recapture Rights. Except with regard to a Permitted Transfer, at any time within twenty (20) business days after Landlord’s receipt of all (but not less than all) of the information and documents described in Section 10.2, Landlord shall have the right (but not the obligation), exercisable by written notice to Tenant, to elect to cancel and terminate this Lease; provided however, that if the proposed Transfer is a sublease or other Transfer of only a portion of the Tenant Space and/or for a portion of the remaining Term, Landlord shall only have the right to terminate (or suspend, as the case may be) the Lease with respect to the portion of the Tenant Space for the portion of the remaining Term which Tenant proposes to sublease or Transfer. If Landlord exercises its right to terminate or suspend the Term of the Lease with respect to only a portion of the Tenant Space, then the Base Rent and Tenant’s Proportionate Share shall be reduced based pro-rata for the time period of such termination or suspension based upon the reduction in the electrical capacity available to Tenant in the remaining portion of the Tenant Space.
Landlord’s Recapture Rights. At any time within twenty (20) business days after Landlord’s receipt of all (but not less than all) of the information and documents described in Section 14.2 above (or in the event of a “spin-off” transaction regarding the sale of a substantial portion of Tenant’s assets, within fourteen (14) days after its receipt of such information and documents), Landlord may, at its option by written notice to Tenant, elect to: (a) sublease the Premises or the portion thereof proposed to be sublet by Tenant upon the same terms as those offered to the proposed subtenant if the proposed sublease is for substantially all of the 3rd Floor South or the 3rd Floor North, respectively, as the case may be and for substantially all of the remaining Term (but not if the proposed sublease is for less than substantially all of the 3rd Floor South or 3rd Floor North or not for substantially all of the remaining Term); (b) take an assignment of the Lease upon the same terms as those offered to the proposed assignee; or (c) terminate the Lease in its entirety or as to the portion of the Premises proposed to be assigned or sublet (if the sublease meets the criteria set forth in clause (a) above), with a proportionate adjustment in the Rent payable hereunder if the Lease is terminated as to less than all of the Premises. If Landlord does not exercise any of the options described in the preceding sentence, then, during the above-described twenty (20) business day period (or in the event of a “spin-off” transaction regarding the sale of a substantial portion of Tenant’s assets, within fourteen (14) days after its receipt of such information and documents), Landlord shall either consent or deny its consent to the proposed assignment or subletting.
Landlord’s Recapture Rights. At any time within fifteen (15) business days after Landlord receives from Tenant a written notice that it intends to assign the Lease or sublet all or any portion of the Premises ("Notice Of Intent To Assign Or Sublet") (whether pursuant to Section 14.01(A) or Section 14.01(B)), Landlord may, at its option by written notice to Tenant, elect to: (A) sublease the Premises or the portion thereof proposed to be sublet by Tenant upon the same terms as those offered to the proposed subtenant; (B) take an assignment of the Lease; or (C) terminate the Lease in its entirety or as to the portion of the Premises proposed to be assigned or sublet, with a proportionate adjustment in the Rent payable hereunder if the Lease is terminated as to less than all of the Premises. If Landlord does not exercise any of the options described in the preceding sentence by expiration of said fifteen (15) business day period, Landlord's right to exercise any of the foregoing options shall, as to the transaction described in the Notice Of Intent To Assign Or Sublet, expire. However, if Tenant for any reason fails to consummate the transaction described in the Notice Of Intent To Assign Or Sublet within three hundred sixty (360) calendar days of the date Landlord received said Notice, or if the transaction Tenant finally agrees to enter into with a third party or entity is materially different from that described in the Notice Of Intent To Assign Or Sublet received by Landlord within said three hundred sixty (360) calendar day period, then in each instance Landlord shall again have the right to exercise the options set forth in this Section 14.03.
Landlord’s Recapture Rights. In the event Tenant provides Landlord of a Transfer notice pursuant to Paragraph 16.2, above, Landlord may, in its discretion, elect to terminate this Lease with respect to the portion of the Premises described in the Transfer notice, which termination shall be effective as of the proposed effective date of the proposed Transfer. Upon such termination, Tenant shall be released from any further liability accruing after such termination date with respect to that portion of the Premises described in the Transfer notice except for obligations of Tenant which survive termination of this Lease. Such termination shall be effected by Landlord giving Tenant written notice of such termination within thirty (30) days after receipt by Landlord of Tenant’s notice of intent to Transfer as provided above. If Landlord makes such election to terminate this Lease, Tenant shall surrender the affected portion of Premises, in accordance with Paragraph 9.2(e), on or before the effective termination date. If Landlord does not elect to terminate this Lease pursuant hereto, then Tenant may, subject to receipt of Landlord’s consent as required under Paragraph 16.1, above, Transfer the Premises to the transferee and under the terms and conditions specified in the Transfer notice. If any change occurs in the identity of the transferee or the terms and conditions of the Transfer of the Premises, or if the Transfer is not completed within ninety (90) days of the date Landlord grants its consent thereto, then the Transfer shall be considered a new Transfer subject to all provisions of this Paragraph 16.
Landlord’s Recapture Rights. (1) Except with respect to (i) transfers permitted pursuant to Section 11.2, and (ii) any Exempt from Recapture Subleases, as hereinafter defined, in the event Tenant desires to assign this Lease or to sublet the whole or any part of the Premises Tenant shall, at any time the Recapture Condition exists, give Landlord a Recapture Offer, which Recapture Offer, at Tenant’s option, may be given to Landlord prior to advertising or marketing the Premises or any part thereof.
Landlord’s Recapture Rights. Notwithstanding the terms and conditions to the contrary set forth in Section 17 of the Lease, Tenant shall not be required to give Landlord a “Recapture Offer” when offering or advertising a sublease under the Lease for an Exempt Sublease and Landlord’s recapture right under Section 17 shall also not apply to any sublease (and Tenant shall not be required to give Landlord a “Recapture Offer” with respect to any sublease) with a term that expires prior to January 31, 2023. In addition, for purposes of Section 17 of the Lease, Sxxxx Xxxxxx, an existing tenant in the Building, shall not be deemed to be a Restricted Occupant with respect to any Exempt Sublease.
