Common use of Landlord’s Recapture Rights Clause in Contracts

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 twenty ten (2010) business days after Landlord’s '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)Paragraph 16.2 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 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)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 (if the sublease meets the criteria set forth in clause (a) above)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 ten (2010) 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)period, Landlord shall either consent or deny its consent to the proposed assignment or subletting. Notwithstanding Landlord's right to recapture all or a portion of the Premises as provided in this Paraxxxxx 00.0, Xxxxxxxx xxxll not exercise its right of recapture where Tenant enters into an arrangement to share space, if such space-sharing arrangement meets the following conditions: (i) the provisions of Paragraphs 16.1, 16.2, 16.4, 16.5, and 16.7 are otherwise complied with, (ii) the entire area which Tenant so shares is less than 2,000 square feet, (iii) the term of the proposed space-sharing arrangement is no longer than the lesser of one (1) year or the then remainder of the term of this Lease as of the proposed Effective Date of the proposed space-sharing, and {iv) the proposed shared area should not be physically separated or demised within the Premises then under ease to Tenant.

Landlord’s Recapture Rights. At any time within twenty thirty (2030) business days after LandlordXxxxxxxx’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)14.02 above, Landlord may, if Tenant desires to (i) sublease all or substantially all of the Premises, (ii) sublease less than all or substantially all of the Premises for all or substantially all of the Term, or (iii) assign the Lease, 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; (b) sublease the Premises from Tenant upon the same terms as those offered to the proposed subtenant; or (c) terminate the Lease in its entirety or as with respect to the portion of the Premises affected by any 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 Premisessubletting. If Landlord does not exercise any of the options described in the preceding sentence, then, during the above-described twenty thirty (2030) 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)period, Landlord shall either consent or deny its consent to the proposed assignment or sublettingsubletting which consent shall not be unreasonably withheld, conditioned or delayed. If Landlord exercises its rights under subsections (a), (b) or (c) above, then Tenant shall be released of all further liability under this Lease, with respect to the affected portion of the Premises, arising on the effective date of the assignment to, or termination by, Landlord.

Landlord’s Recapture Rights. At Except with respect to a transfer to an Affiliate, at any time within twenty (20) business days (or twenty [20] days, as the case may be) after Landlord’s 's receipt of all (but not less than all) of the information and documents described in Section 14.2 14.02 above for any sublease or assignment except for a sublease or assignment to an Affiliate (or as defined in Insert No. 4 of the Rider) permitted by the provisions of Insert No. 4 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)Rider, 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)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 (if the sublease meets the criteria set forth in clause (a) above)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 (or in twenty [20] day period, as 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 documentscase may be), Landlord shall either consent or deny its consent to the proposed assignment or subletting.. If Landlord fails to timely consent or deny its consent to the proposed assignment or subletting, Landlord shall be deemed to have consented thereto. Landlord shall pay the reasonable cost of erecting partitioning to demise and separate any such space recaptured by Landlord from the contiguous portion of the Premises. 14.04