Common use of Landlord’s Recapture Rights Clause in Contracts

Landlord’s Recapture Rights. If Tenant desires to assign this Lease or to sublet all or any portion of the Demised Premises, it shall first submit in writing to Landlord the documents described in Section 15.3 hereof, and shall offer in writing, (a) with respect to a prospective assignment, to assign this Lease to Landlord without any payment of monies or other consideration therefor, or, (b) with respect to a prospective subletting, to sublet to Landlord the portion of the Demised Premises involved ("Leaseback Area") for the term specified by Tenant in its proposed sublease and at the lower of (i) Tenant's proposed subrental, or (ii) at the same rate of Fixed Rent and Additional Rent, and otherwise on the same terms, covenants and conditions (including provisions relating to escalation rents), as are contained herein and as are allocable and applicable to the portion of the Demised Premises to be covered by such subletting. The offer shall specify the date (the "Effective Date") when the assignment will be effective or the Leaseback Area will be made available to Landlord, as the case may be, which date shall in no event be earlier than ninety (90) days nor later than one hundred eighty (180) days following the acceptance of the offer. If an offer of sublease is made, and if the proposed sublease will result in all or substantially all of the Demised Premises being sublet, then Landlord shall have the option to extend the terms of its proposed sublease for the balance of the Term of this Lease less one (1) day. Alternatively, within sixty (60) days of the receipt of an offer from Tenant to assign this Lease or to sublease all or substantially all of the Demised Premises, Landlord may elect to terminate this Lease by delivering written notice of such election to Tenant. Landlord, in any event, shall have a period of thirty (30) days from the receipt of any such assignment or subletting offer from Tenant to either accept or reject the same. If Landlord shall accept such offer, Tenant shall then execute and deliver to Landlord, or to anyone designated or named by Landlord, an assignment or sublease, as the case may be, which assignment or sublease, as the case may be, is in form and substance reasonably satisfactory to Landlord's counsel. If a sublease is so made, it shall expressly:

Landlord’s Recapture Rights. If Tenant desires to assign this Lease or to sublet At any time within ten (10) business days after Landlord’s receipt of all or any portion (but not less than all) of the Demised Premises, it shall first submit in writing to Landlord the information and documents described in Section 15.3 hereof14.01 above, and shall offer in writingLandlord may, at its option by written notice to Tenant, elect to: (a) with respect to in the case of an assignment of the Lease or a prospective assignmentsublease of the entire Premises, to assign this terminate the Lease to Landlord without any payment of monies in its entirety, or other consideration therefor, or, (b) with respect to in the case of a prospective subletting, to sublet to Landlord the sublease of a portion of the Demised Premises involved ("Leaseback Area") for the term specified by Tenant in its proposed sublease and at the lower of (i) Tenant's proposed subrental, or (ii) at the same rate of Fixed Rent and Additional Rent, and otherwise on the same terms, covenants and conditions (including provisions relating to escalation rents), as are contained herein and as are allocable and applicable to the portion of the Demised Premises proposed to be covered by such subletting. The offer shall specify assigned or sublet, with a proportionate adjustment in the date (the "Effective Date") when the assignment will be effective or the Leaseback Area will be made available to Landlord, as the case may be, which date shall in no event be earlier than ninety (90) days nor later than one hundred eighty (180) days following the acceptance of the offer. If an offer of sublease is made, and Rent payable hereunder if the proposed sublease will result in all or substantially Lease is terminated as to less than all of the Demised Premises being subletPremises. Notwithstanding the foregoing, Landlord shall not have the right to exercise its recapture rights if the Transfer is a Permitted Transfer. If Landlord elects to exercise its recapture rights pursuant to this Section 14.03, Tenant shall have the right to rescind its request to assign or sublease within five (5) business days of Tenant’s receipt of Landlord’s recapture notice. Tenant shall pay Landlord as additional rent upon demand all reasonable costs incurred by Landlord in separating any recaptured space from the Premises, including, without limitation, the cost of constructing demising walls. If Landlord does not exercise its termination option described in this Section 14.03, then, during the above-described ten (10) business day period, then Landlord shall be deemed to have waived its right to recapture the option Premises and Landlord shall either consent to extend an assignment or transfer or deny its consent to the terms of its proposed sublease for the balance of the Term of this Lease less one (1) day. Alternatively, within sixty (60) days of the receipt of an offer from Tenant to assign this Lease or to sublease all or substantially all of the Demised Premises, Landlord may elect to terminate this Lease by delivering written notice of such election to Tenant. Landlord, in any event, shall have a period of thirty (30) days from the receipt of any such assignment or subletting offer from Tenant to either accept or reject in accordance with the same. If Landlord shall accept such offer, Tenant shall then execute and deliver to Landlord, or to anyone designated or named by Landlord, an assignment or sublease, as the case may be, which assignment or sublease, as the case may be, is in form and substance reasonably satisfactory to Landlord's counsel. If a sublease is so made, it shall expressly:requirements of this Article XIV.

Landlord’s Recapture Rights. If (a) Landlord’s Recapture Rights. Notwithstanding any other provision of this Article XI if Tenant desires to assign assign, sublease or otherwise transfer to any person or entity any interest in this Lease or to sublet all 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 Demised Premises, it shall first submit in writing to Landlord the documents described in Section 15.3 hereof, and shall offer in writing, (a) with respect to a prospective assignment, to assign this Lease to Landlord without any payment of monies or other consideration therefor, or, (b) with respect to a prospective subletting, to sublet to Landlord the portion Rentable Area of the Demised Premises involved ("Leaseback Area") for the term specified by Tenant in its proposed sublease and at the lower of (i) Tenant's proposed subrental, or (ii) at the same rate of Fixed Rent and Additional Rent, and otherwise on the same terms, covenants and conditions (including provisions relating being referred to escalation rents), as are contained herein and as are allocable and applicable to the portion of the Demised Premises to be covered by such subletting. The offer shall specify the date (the "Effective Date") when the assignment will be effective or the Leaseback Area will be made available to Landlord, as the case may be, which date shall in no event be earlier than ninety (90) days nor later than one hundred eighty (180) days following the acceptance of the offer. If an offer of sublease is made, and if the proposed sublease will result in all or substantially all of the Demised Premises being sublet“Recapture Space”), then Landlord shall have the option to extend recapture the terms of its proposed sublease for the balance of the Term of this Lease less one (1) day. AlternativelyRecapture Space, within sixty (60) days of the receipt of an offer from Tenant to assign this Lease or to sublease all or substantially all of the Demised Premises, Landlord may elect to terminate this Lease which option shall be exercisable only by delivering giving written notice of such election to Tenant. Landlord, in any event, shall have a period of Tenant (“Recapture Notice”) within thirty (30) days from the after Landlord’s receipt of Tenant’s request for consent. Upon Landlord’s timely delivery of a Recapture Notice to Tenant, this Lease shall terminate this Lease 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 assignment, sublease or subletting offer from Tenant other transfer agreement shall be assigned to either accept or reject Landlord as of the same. If Landlord shall accept such offer, Tenant shall then execute and deliver to effective date of Landlord, or to anyone designated or named by Landlord, an assignment or sublease, as the case may be, which assignment or sublease, as the case may be, is in form and substance reasonably satisfactory to Landlord's counsel. If a sublease is so made, it shall expressly:’s recapture.

Landlord’s Recapture Rights. If Notwithstanding any other provision of this Article XI if Tenant desires to assign assign, sublease or otherwise transfer to any person or entity any interest in this Lease or to sublet all 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 Demised Premises, it shall first submit in writing to Landlord the documents described in Section 15.3 hereof, and shall offer in writing, (a) with respect to a prospective assignment, to assign this Lease to Landlord without any payment of monies or other consideration therefor, or, (b) with respect to a prospective subletting, to sublet to Landlord the portion Rentable Area of the Demised Premises involved ("Leaseback Area") for the term specified by Tenant in its proposed sublease and at the lower of (i) Tenant's proposed subrental, or (ii) at the same rate of Fixed Rent and Additional Rent, and otherwise on the same terms, covenants and conditions (including provisions relating being referred to escalation rents), as are contained herein and as are allocable and applicable to the portion of the Demised Premises to be covered by such subletting. The offer shall specify the date (the "Effective Date") when the assignment will be effective or the Leaseback Area will be made available to Landlord, as the case may be, which date shall in no event be earlier than ninety (90) days nor later than one hundred eighty (180) days following the acceptance of the offer. If an offer of sublease is made, and if the proposed sublease will result in all or substantially all of the Demised Premises being sublet“Recapture Space”), then Landlord shall have the option to extend recapture the terms of its proposed sublease for the balance of the Term of this Lease less one (1) day. AlternativelyRecapture Space, within sixty (60) days of the receipt of an offer from Tenant to assign this Lease or to sublease all or substantially all of the Demised Premises, Landlord may elect to terminate this Lease which option shall be exercisable only by delivering giving written notice of such election to Tenant. Landlord, in any event, shall have a period of Tenant (“Recapture Notice”) within thirty (30) days from the after Landlord’s receipt of Tenant’s request for consent. Upon Landlord’s timely delivery of a Recapture Notice to Tenant, this Lease shall terminate this Lease 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 assignment, sublease or subletting offer from Tenant other transfer agreement shall be assigned to either accept or reject Landlord as of the same. If Landlord shall accept such offer, Tenant shall then execute and deliver to effective date of Landlord, or to anyone designated or named by Landlord, an assignment or sublease, as the case may be, which assignment or sublease, as the case may be, is in form and substance reasonably satisfactory to Landlord's counsel. If a sublease is so made, it shall expressly:’s recapture.

Landlord’s Recapture Rights. If Notwithstanding any other provision of this Article 11, if Tenant desires to assign assign, sublease or otherwise transfer to any person or entity (other than an Affiliate) any interest in this Lease or to sublet all the Premises or any portion of the Demised Premisespart thereof, it then Tenant shall first submit in writing deliver to Landlord the documents described in Section 15.3 hereofa written request for consent, and shall offer in writing, (a) together with respect to a prospective assignment, to assign this Lease to Landlord without any payment of monies or other consideration therefor, or, (b) with respect to a prospective subletting, to sublet to Landlord the portion of the Demised Premises involved ("Leaseback Area") for the term specified by Tenant in its proposed sublease and at the lower of (i) Tenant's proposed subrental, or (ii) at the same rate of Fixed Rent and Additional Rent, and otherwise on the same terms, covenants and conditions (including provisions relating to escalation rents), as are contained herein and as are allocable and applicable to the portion of the Demised Premises to be covered by such subletting. The offer shall specify the date (the "Effective Date") when the assignment will be effective or the Leaseback Area will be made available to Landlord, as the case may be, which date shall in no event be earlier than ninety (90) days nor later than one hundred eighty (180) days following the acceptance of the offer. If an offer of sublease is made, and if the proposed sublease will result in all or substantially all of the Demised information specified in Section 11.05 above. If such transfer (together with all other assignments, subleases or transfers then in effect) would affect fifty percent (50%) of the Rentable Area of the Premises being subletin the aggregate for more than seventy-five percent (75%) of the remainder of the Term, then Landlord shall have the option to extend recapture the terms space Tenant is then seeking to transfer (the “Recapture Space”), which option shall be exercisable only by giving written notice to Tenant (“Recapture Notice”) within ten (10) days after Landlord’s receipt of its proposed sublease Tenant’s request for the balance consent. Upon Landlord’s timely delivery of the Term of a Recapture Notice to Tenant, this Lease less one (1) day. Alternatively, within sixty (60) days of the receipt of an offer from Tenant to assign this Lease or to sublease all or substantially all of the Demised Premises, Landlord may elect to shall terminate this Lease by delivering 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. Notwithstanding the foregoing, if Landlord delivers a Recapture Notice to Tenant, Tenant may, within ten (10) days after Tenant’s receipt of the Recapture Notice, deliver written notice of such to Landlord indicating that Tenant is rescinding its request for consent to the proposed transfer, in which case the transfer shall not be consummated and this Lease shall remain in full force and effect as to the Recapture Space. Tenant’s failure to so notify Landlord in writing within said ten (10) day period shall be deemed to constitute Tenant’s election to Tenant. Landlord, in any event, shall have a period of thirty (30) days from allow the receipt of any such assignment or subletting offer from Tenant Recapture Notice to either accept or reject the same. If Landlord shall accept such offer, Tenant shall then execute and deliver to Landlord, or to anyone designated or named by Landlord, an assignment or sublease, as the case may be, which assignment or sublease, as the case may be, is in form and substance reasonably satisfactory to Landlord's counsel. If a sublease is so made, it shall expressly:be effective.