Landlord’s Right to Recapture. Notwithstanding any contrary provision hereof, except in the case of a Permitted Transfer (defined in Section 14.8), Landlord, by notifying Tenant within 30 days after receiving the Transfer Notice, may terminate this Lease with respect to the Contemplated Transfer Space as of the Contemplated Effective Date. If the Contemplated Transfer Space is less than the entire Premises, then Base Rent, Tenant’s Share, and the number of parking spaces to which Tenant is entitled under Section 1.9 shall be deemed adjusted on the basis of the percentage of the rentable square footage of the portion of the Premises retained by Tenant. Upon request of either party, the parties shall execute a written agreement prepared by Landlord memorializing such termination.
Landlord’s Right to Recapture. Notwithstanding any contrary provision hereof, except in the case of a Permitted Transfer (defined in Section 14.8), a sublease (including any expansion rights) of less than 75% of the rentable square footage of the then existing Premises, or a sublease for a term (including any extension options) of less than 75% of the balance of the Term remaining on the Contemplated Effective Date (excluding any unexercised extension options), or a Change of Control, Landlord, by notifying Tenant within 15 business days after receiving the Transfer Notice, may terminate this Lease with respect to the Contemplated Transfer Space as of the Contemplated Effective Date. If the Contemplated Transfer Space is less than the entire Premises, then Base Rent, Tenant’s Share, the amount of any Security Deposit and the number of parking spaces to which Tenant is entitled under Section 1.9 shall be deemed adjusted on the basis of the percentage of the rentable square footage of the portion of the Premises retained by Tenant. Upon request of either party, the parties shall execute a written agreement prepared by Landlord memorializing such termination.
Landlord’s Right to Recapture. Notwithstanding any contrary provision hereof, except in the case of a Permitted Transfer (defined in Section 14.8), Landlord, by notifying Tenant within 30 days after receiving the Transfer Notice, may terminate this Lease with respect to the Contemplated Transfer Space as of the Contemplated Effective Date; provided, however, that such termination shall not be effective if Tenant, by notifying Landlord within five (5) days after receiving Landlord’s notice of termination, withdraws the Transfer Notice. If Tenant does not timely withdraw the Transfer Notice, and if the Contemplated Transfer Space is less than the entire Premises, then Base Rent, Tenant’s Share, and the number of parking spaces to which Tenant is entitled under Section 1.9 shall be deemed adjusted on the basis of the percentage of the rentable square footage of the Premises retained by Tenant. Upon request of either party, the parties shall execute a written agreement prepared by Landlord memorializing such termination.
Landlord’s Right to Recapture. Landlord shall have the right to recapture up to One Thousand Three Hundred Sixty Seven (1,367) square feet of the southern end of the Premises as marked in orange on Exhibit "A" (the "Recapture Area") and construct an adjacent expansion area. Landlord may give notice in writing to Tenant of its election to recapture said Recapture Area at any time. ninety (90) days after the date of Landlord's notice (the "Recapture Effective Date") Tenant shall immediately surrender and deliver up the Recapture Area to Landlord. Failure of Tenant to deliver the Recapture Area to Landlord within the above ninety (90) days shall be a material default of this Lease. If Landlord recaptures the Recapture Area, Landlord shall reimburse Tenant for the unamortized cost, amortized on a straight line basis over the ten year term of the Lease, of the new metal roof facade that was installed over the Recapture Area in accordance with Exhibit B, "Work by Tenant in Premises". The square footage of the Premises as defined in paragraph 1 of this Lease shall be amended as of the Recapture Effective Date to be the "Remaining Premises" which shall be computed as follows: the original square footage (4,100 s.f.) minus the Recapture Area square footage equals the new square footage "Remaining Premises". Commencing on the Recapture Effective Date, the monthly Fixed Rent defined in Paragraph 4 of this Lease shall be re-computed by multiplying the Fixed Rent defined in Paragraph 4 by a fraction the numerator of which is the Remaining Premises and the denominator of which is 4,100, with the resultant being the Fixed Rent from the Recapture Effective Date which shall be adjusted annually in accordance with Paragraph 4.
Landlord’s Right to Recapture. Notwithstanding any contrary provision hereof, except in the case of a Permitted Transfer (defined in Section 14.8), a Change of Control, or a sublease (including any expansion rights) of less than 50% of the rentable square footage of the then existing Premises for a term (including any extension options) of less than 50% of the balance of the Term remaining on the Contemplated Effective Date (excluding any unexercised extension options), Landlord, by notifying Tenant within 20 days after receiving the Transfer Notice, may terminate this Lease with respect to the Contemplated Transfer Space as of the Contemplated Effective Date; provided, however, that such termination shall not be effective if Tenant, by notifying Landlord within five (5) days after receiving Landlord’s notice of termination, withdraws the Transfer Notice. If Tenant does not timely withdraw the Transfer Notice, and if the Contemplated Transfer Space is less than the entire Premises, then Base Rent, Tenant’s Share, and the number of parking spaces to which Tenant is entitled under Section 1.9 shall be deemed adjusted on the basis of the percentage of the rentable square footage of the portion of the Premises retained by Tenant. Upon request of either party, the parties shall execute a written agreement prepared by Landlord memorializing such termination.
Landlord’s Right to Recapture. Notwithstanding any contrary provision hereof, except in the case of a Permitted Transfer (defined in Section 14.8) or a sublease of less than 75% of the rentable square footage of the then existing Premises, Landlord, by notifying Tenant within 30 days after receiving the Transfer Notice, may terminate this Lease with respect to the Contemplated Transfer Space as of the Contemplated Effective Date. If the Contemplated Transfer Space is less than the entire Premises, then Base Rent, Tenant’s Share, and the number of parking spaces to which Tenant is entitled under Section 1.9 shall be deemed adjusted on the basis of the percentage of the rentable square footage of the Premises retained by Tenant. Upon request of either party, the parties shall execute a written agreement prepared by Landlord memorializing such termination.
Landlord’s Right to Recapture. Notwithstanding any contrary provision hereof, except in the case of a Permitted Transfer (defined in Section 14.8), Landlord, by notifying Tenant within 30 days after receiving the Transfer Notice, may terminate this Lease with respect to the Contemplated Transfer Space as of the Contemplated Effective Date; provided, however, Tenant, within 5 days after receipt of Landlord’s notice of intent to recapture the Contemplated Transfer Space, may withdraw its request for consent to the Transfer. In that event, Landlord’s election to recapture the Premises (or applicable portion thereof) shall be null and void and of no force and effect. If the Contemplated Transfer Space is less than the entire Premises, then Base Rent, Tenant’s Share, and the number of parking spaces to which Tenant is entitled under Section 1.9 shall be deemed adjusted on the basis of the percentage of the rentable square footage of the Premises retained by Tenant. Upon request of either party, the parties shall execute a written agreement prepared by Landlord memorializing such termination.
Landlord’s Right to Recapture. Notwithstanding any contrary provision hereof, in the event of a proposed assignment of this Lease or a sublease or more than 25% of the Premises for the remainder of Term (provided that any sublease which is scheduled to expire, assuming all renewal options set forth in such sublease are exercised by such subtenant, during the last twelve (12) months of the Term shall be deemed to be for the remainder of the Lease Term), except in the case of a Permitted Transfer (defined in Section 14.8), Landlord, by notifying Tenant within 10 business days after receiving the Transfer Notice, may terminate this Lease with respect to the Contemplated Transfer Space as of the Contemplated Effective Date. If the Contemplated Transfer Space is less than the entire Premises, then Base Rent, Tenant’s Share, and the number of parking spaces to which Tenant is entitled under Section 1.9 shall be deemed adjusted on the basis of the percentage of the rentable square footage of the Premises retained by Tenant. Upon request of either party, the parties shall execute a written agreement prepared by Landlord memorializing such termination.
Landlord’s Right to Recapture. Notwithstanding any contrary provision hereof, except in the case of (i) a Permitted Transfer (defined in Section 14.8), (ii) a sublease (including any expansion rights) of less than 90% of the rentable square footage of the then existing Premises, (iii) a sublease for a term (including any extension options) of less than 90% of the balance of the Term remaining on the Contemplated Effective Date (excluding any unexercised extension options), or (iv) a Change of Control, Landlord, by notifying Tenant within twelve (12) business after receiving a Notice of Intent to Transfer (defined below), may terminate this Lease with respect to the Contemplated Transfer Space as of the Contemplated Effective Date. If Landlord fails to so notify Tenant within such twelve (12)-business-day period, Landlord shall no longer be entitled terminate this Lease with respect to the Contemplated Transfer Space as of the Contemplated Effective Date based upon such Notice of Intent to Transfer or the proposed Transfer described in such Notice of Intent to Transfer. As used herein, “Notice of Intent to Transfer” means any Transfer Notice or other notice from Tenant informing Landlord that Tenant intends to enter into a Transfer with respect to a particular Contemplated Transfer Space as of a particular Contemplated Effective Date (whether or not Tenant has already negotiated the terms of such Transfer with a third party). If Landlord terminates this Lease with respect to the Contemplated Transfer Space as of the Contemplated Effective Date as provided in this Section 14.4, and if the Contemplated Transfer Space is less than the entire Premises, then Base Rent, Tenant’s Share, and the number of parking spaces to which Tenant is entitled under Section 1.9 shall be deemed adjusted on the basis of the percentage of the rentable square footage of the Premises retained by Tenant. Upon request of either party, the parties shall execute a written agreement prepared by Landlord memorializing such termination.
Landlord’s Right to Recapture. In the event that Tenant intends to sublet all or any portion of the Premises or assign this Lease, other than to a Permitted Assignee (as described in Paragraph E below), 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 all or such portion of the Premises as is described in Tenant's notice and such recapture notice shall, if given, cancel and terminate this Lease with respect to the space therein described as of the date stated in Landlord's notice. If Tenant's notice shall cover all of the Premises, and Landlord shall have exercised its foregoing recapture right, the Term of this Lease shall expire and end on the effective date of such assignment or sublease as fully and completely as if that date had been herein definitely fixed for the expiration of the Term. If, however, this Lease is hereby cancelled with respect to less than the entire Premises, Rent reserved herein and additional rent shall be adjusted on the basis of the number of square feet retained by Tenant in proportion to the number of square feet contained in the Premises, as described in this Lease, and this Lease as so amended shall continue thereafter in full force and effect.
