Landlord’s Right of Recapture. If Tenant intends to sublease any portion of the Premises or assign this Lease, then Tenant shall give written notice of such intent to Landlord, which notice shall constitute an offer to Landlord to recapture the Premises, or the portion of the Premises covered by such sublease, as the case may be. Tenant’s notice to Landlord shall identify the specific “Rental Area” of the Premises subleased or indicate that the Lease is to be assigned, and the date of commencement and termination of the sublease or the effective date for the assignment, and shall include a copy of all of the documents relating to such sublease or assignment. Within thirty (30) days after Landlord’s receipt of Tenant’s notice, Landlord may at its sole option elect to recapture the Premises or such portion thereof, as the case may be, by giving Tenant written notice thereof. If Landlord exercises its option, Tenant shall notify the prospective subtenant or assignee of Landlord’s election, shall terminate the agreement with such prospective subtenant or assignee if so directed by Landlord, and shall surrender the space to Landlord pursuant to a written partial or total surrender of lease, as applicable, reasonably satisfactory to both parties, providing for the termination of this Lease with respect to the Premises or such portion thereof and the parties’ obligations to each other with respect to such space. Upon any partial termination under this Section 14.5, (x) the Rental Area of the Premises shall be adjusted, and the base rent and additional rent shall be pro-rated as of the date of termination and shall be abated following the termination as to the surrendered Rental area, and (y) Landlord, at Landlord’s sole cost and expense, shall construct Building standard demising walls to separate the space covered by such partial termination from the remaining part of the Premises.
Landlord’s Right of Recapture. Notwithstanding anything hereinabove set forth, any request by Tenant for Landlord's consent to an assignment of the lease or a sublease of any portion of the Premises shall clearly Page 11 set forth the proposed terms of such proposed assignment or sublease and shall constitute Tenant's offer to cancel this Lease. Landlord may accept such offer by notice to Tenant within ninety days after Xxxxxxxx's receipt thereof, in which event, this Lease shall terminate as of the end of the month following the month in which such notice is sent (with the same effect as if such date were the date fixed herein for the natural expiration of the Term), Base Rent and Additional Rent shall be apportioned to such date, Tenant shall surrender the Premises on such date as herein provided, and subject to payment of required lease adjustments, the parties shall thereafter have no further liability one to the other. If Landlord fails to send such notice, Tenant within twenty days after the expiration of such ninety day period, may assign this this Lease or sublet the applicable portion of the Premises to the proposed assignee or subtenant and upon the terms specified in such request. 8.5
Landlord’s Right of Recapture. Notwithstanding anything contained herein to the contrary, if Tenant notifies Landlord of its desire to effectuate a transfer, other than with respect to the transfer of ownership or control of the business entity comprising Tenant which shall not trigger the Landlord’s Right of Recapture as provided herein, Landlord may elect to terminate this Lease, or to reduce the Premises by the area requested to be subleased or assigned if the area is less than the entire Premises. If Landlord’s election is to terminate or to reduce the area of the Premises as provided herein Tenant shall have ten (10) days from receipt of Landlord’s notice of same to notify Landlord that Tenant has elected either (i) to accept such termination or reduction or (ii) to remain in possession of the Premises under this Lease for the remainder of the Term. If less than the entire Premises is recaptured by Landlord, at its option, may demise the Premises and Tenant shall reimburse Landlord, as Additional Rent, all costs associated therewith.
Landlord’s Right of Recapture. Tenant shall, by written notice in the form specified in the following sentence, advise Landlord of Tenant’s intention on a stated date (which shall not be less than thirty
Landlord’s Right of Recapture. This Subsection (C) shall not apply to Permitted Transfers. Tenant shall, by written notice in the form specified in the following sentence, advise Landlord of Tenant’s intent on a stated date to assign the entire lease or sublet the entire Premises for all or substantially all of the then in effect term of this Lease, and, in such event, Landlord shall have the right, to be exercised by giving written notice to Tenant within ten (10) business days after receipt of Tenant’s notice, to recapture the space described in Tenant’s notice and such recapture notice shall, if given, cancel and terminate this Lease as of the date stated in Tenant’s notice. If Landlord shall elect to give the aforesaid recapture notice with respect thereto, then the Term shall expire and end on the date stated in Tenant’s notice as fully and completely as if that date had been herein definitely fixed for the expiration of the Term.
Landlord’s Right of Recapture. If Tenant intends to sublease more than 50% of the Premises or assign this Lease to an entity other than an Affiliate, then Tenant shall give written notice of such intent to Landlord, which notice shall constitute an offer to Landlord to recapture the Premises, or the portion of the Premises covered by such sublease, as the case may
Landlord’s Right of Recapture. Notwithstanding anything contained herein to the contrary, in the event that Tenant has opened for business but has thereafter ceased operations at the Premises for a period of more than sixty (60) days, subject to force majeure or permitted alterations or reconstruction following casualty or condemnation (which alterations or reconstruction Tenant shall diligently and in good faith commence and pursue to completion), then Landlord may elect to terminate this Lease on thirty (30) days prior written notice, in which event this Lease shall be terminated as of such date (unless Tenant commences operations within such 30-day period), and the parties shall have no further rights or obligations hereunder, except for any rights or obligations existing as of the date of termination.
Landlord’s Right of Recapture. Notwithstanding anything contained herein to the contrary, if Tenant notifies Landlord of its desire to effectuate a transfer, Landlord may elect to terminate this Lease, or to reduce the Premises by the area requested to be subleased or assigned if the area is less than the entire Premises. If Landlord's election is to terminate or to reduce the area of the Premises as provided herein Tenant shall have ten (10) days from receipt of Landlord's notice of same to notify Landlord that Tenant has elected either (i) to accept such termination or reduction or (ii) to remain in possession of the Premises under this Lease for the remainder of the Term. If less than the entire Premises is recaptured by Landlord, at its option, may demise the Premises and Tenant shall reimburse Landlord, as Additional Rent, all costs associated therewith.
Landlord’s Right of Recapture. If at any time during the lease term, all or substantially all of the demised premises is not open to the public for business for a period of one hundred twenty (120) consecutive days for reasons other than remodeling, pursuant to Section GG of this Lease, a casualty or Taking (hereinafter defined), Landlord shall have the right to recapture the demised premises. Landlord shall provide Tenant with written notice of its exercise of the foregoing capture right, setting forth a date not sooner than sixty (60) days after such written notice, as the date for the termination of this Lease, and upon such date, if Tenant has not yet opened for business, then this Lease shall be null and void and of no further effect. Landlord’s rights under this section shall be continuing rights and shall not be exhausted by any number of failures to exercise its rights to recapture hereunder. If Landlord shall be able to release the Premises due to such recapture, any rental amounts due during the term of this Lease shall be used to mitigate Tenant’s costs.
Landlord’s Right of Recapture. The first sentence of Article 19 is deleted, and the following sentence is hereby substituted therefor: If, during the term of this Lease, Tenant fails or has elected not to operate the Rail Facility, the Load/Unload Facility or the Truck Rack, or any of them, for a period of time (but not counting any period of time when the Refinery is not in operation) equal to (a) two (2) years continuously, or (b) a total of two (2) years within any 5-year period, then following the end of such 2-year period of non-operation, and for so long as Tenant has not resumed operating the Rail Facility, the Load/Unload Facility or the Truck Rack, as appropriate, located on the Premises, Landlord shall have the right to provide Tenant with written notice stating that Landlord has elected to recapture the Premises (or the applicable portion thereof) and terminate this Lease (the “Recapture Notice”).
