Common use of Landlord’s Right to Space Clause in Contracts

Landlord’s Right to Space. Notwithstanding any of the above provisions of this Paragraph 16 to the contrary, if Tenant notifies Landlord that it desires to enter into a sublease or assignment, Landlord, in lieu of consenting to such transaction, may elect (a) in the case of an assignment or a sublease of the entire Premises, to terminate this Lease or to sublease the Premises from Tenant at the lesser of the rental rate payable hereunder or the rate payable under such proposed transaction, or (y) in the case of a sublease of less than the entire Premises, to terminate this Lease as it relates to the space proposed to be subleased by Tenant or to sublease such portions of the Premises at the lesser of the rental rate payable hereunder or the rate payable under such proposed transaction. In the event Landlord elects to so terminate this Lease or sublease such space, this Lease will terminate (or the space proposed to be subleased will be removed from the Premises subject to this Lease and the Base Rent and Tenaxx'x Xhare under this Lease shall be proportionately reduced) on the date the sublease or assignment was proposed by Tenant to be effective, and Landlord may lease such space to any party, including the prospective sublessee or assignee identified by Tenant. In any event, Tenant shall bear the costs of any demising walls and code-related work associated with such sublease or termination.

Landlord’s Right to Space. (a) Landlord’s Recapture Right. Notwithstanding any of the above provisions other provision of this Paragraph 16 Article 14 to the contrary, but subject to Section l4.7(b), if Tenant notifies Landlord that it desires to enter into a sublease or assignmentTransfer , then Landlord, in lieu of consenting to such transactionTransfer, may elect elect, within twenty (a20) days after receipt of Tenant’s Transfer Consent Request and all of the required information specified in Section l4.2(a) to: (i) in the case of an assignment or a sublease of the entire Premisesthis Lease, to terminate this Lease or to sublease the Premises from Tenant at the lesser of the rental rate payable hereunder or the rate payable under such proposed transactionLease, or (yii) in the case of a sublease of less than the one or more entire PremisesFloors, to terminate this Lease as it relates to the space proposed to be subleased by Tenant Tenant, or to (iii) in the case of a sublease such portions of more than three (3) full Floors or more than fifty percent (50%) of the Premises at the lesser of the rental rate payable hereunder or the rate payable under such proposed transactionPremises, to terminate this Lease. In the event Landlord elects to so terminate this Lease or sublease such spaceevent, this Lease will terminate (or the space proposed to be subleased will be removed from the Premises subject to this Lease and the Base Rent and Tenaxx'x Xhare Tenant’s Share under this Lease shall be proportionately reduced) on the earlier of (x) sixty (60) days after Landlord’s notice to Tenant making the election set forth in this Section 14.7, or (y) the date the sublease or assignment Transfer was proposed by Tenant to be effective, if such date is specified in Tenant’s notice to Landlord regarding the proposed Transfer, and Landlord may lease such space to any party, including the prospective sublessee or assignee Transferee identified by Tenant. In any event, Tenant shall bear the costs of any demising walls and code-related work associated with such sublease or termination.

Landlord’s Right to Space. Notwithstanding In addition to Landlord's right to approve or disapprove any of the above provisions of this Paragraph 16 to the contraryproposed Transfer, if Tenant notifies Landlord that it desires to enter into a sublease or assignmentTransfer, Landlord, in lieu of consenting to such transactionTransfer, may elect (ai) in the case of an assignment or a sublease of the entire Premises, to terminate this Lease or to sublease the Premises from Tenant at the lesser of the rental rate payable hereunder or the rate payable under such proposed transactionLease, or (yii) in the case of a sublease of less than the entire Premises, to terminate this Lease as it relates to the space proposed to be subleased by Tenant or to sublease such portions of the Premises at the lesser of the rental rate payable hereunder or the rate payable under such proposed transactionTenant. In the event Landlord elects to so terminate this Lease or sublease such spaceevent, this Lease will terminate (or the space proposed to be subleased will be removed from the Premises subject to this Lease and the Base Rent and Tenaxx'x Xhare Tenant's share of Additional Rent under this Lease shall be proportionately reduced) on the date the sublease or assignment Transfer was proposed by Tenant to be effective, and Landlord may lease such space to any party, including the prospective sublessee or assignee Transferee identified by Tenant. In any eventHowever, Tenant no termination of this Lease with respect to part or all of the Premises shall bear become effective without the costs prior written consent, where necessary, of any demising walls and code-related work associated with such sublease or terminationthe holder of each deed of trust encumbering the Premises. Notwithstanding the foregoing, during the initial term of this Lease, Landlord shall not be entitled to make either of the elections set forth in this Section 14.7.

Landlord’s Right to Space. Notwithstanding any of the above provisions of this Paragraph 16 Section to the contrary, if Tenant notifies Landlord that it desires to enter into a sublease Transfer (except in the case of a Permitted Transfer or assignmenta Transfer to an Affiliated Party or any other transfer to a successor to Tenant by merger, purchase, consolidation or reorganization that is consented to by Landlord), Landlord, in lieu of consenting to such transactionTransfer, may elect (a) in the case of an assignment or a sublease of that would result in fifty percent (50%) or more of the entire PremisesPremises being subject to the sublease for a sublease term of more than fifty percent (50%) of the then-remaining Term of this Lease, to terminate this Lease or to sublease the Premises from Tenant at the lesser of the rental rate payable hereunder or the rate payable under such proposed transaction, or (y) in the case of a sublease of less than the entire Premises, to terminate this Lease as it relates to the space proposed to be subleased by Tenant or to sublease such portions of the Premises at the lesser of the rental rate payable hereunder or the rate payable under such proposed transactionLease. In the event Landlord elects to so terminate this Lease or sublease such spaceevent, this Lease will terminate (or the space proposed to be subleased will be removed from the Premises subject to this Lease and the Base Rent and Tenaxx'x Xhare Tenant’s Share under this Lease shall be proportionately reduced) on the date the sublease or assignment Transfer was proposed by Tenant to be effective, and Landlord may lease such space to any party, including the prospective sublessee or assignee Transferee identified by Tenant. In any eventNotwithstanding the foregoing, upon receipt of Landlord’s notice that it has elected to terminate the Lease and recapture the portion of the Premises proposed to be subleased or assigned, Tenant may, in its discretion, elect to rescind its election to enter into a Transfer by delivering notice of the same to Landlord within five (5) business days of Landlord’s notice, in which case, this Lease shall bear the costs of any demising walls and code-related work associated with continue in effect as if no such sublease or terminationnotice were given by Tenant.

Landlord’s Right to Space. Notwithstanding any of the above provisions of this Paragraph 16 Section 14 to the contrary, if Tenant notifies Landlord that it desires to enter into a Transfer which is either an assignment of this Lease or a sublease or assignmentof greater than fifty percent (50%) of the square footage of the Premises and the sublease is for a term greater than fifty percent (50%) of the initial Term, Landlord, in lieu of consenting to such transaction, Landlord may elect (ax) in the case of an assignment or a sublease of the entire Premises, to terminate this Lease or to sublease the Premises from Tenant at the lesser of the rental rate payable hereunder or the rate payable under such proposed transactionLease, or (y) in the case of a sublease of less than the entire Premises, to terminate this Lease as it relates to the space proposed to be subleased by Tenant or to sublease such portions of the Premises at the lesser of the rental rate payable hereunder or the rate payable under such proposed transactionTenant. In the event Landlord elects to so terminate this Lease or sublease such spaceevent, this Lease will terminate (or the space proposed to be subleased will be removed from the Premises subject to this Lease on the date the Transfer was proposed to be effective (and, in the event of such removal, (i) the Monthly Base Rent shall be adjusted by multiplying the then existing Monthly Base Rent by a fraction, the numerator of which shall be the rentable square footage of the Premises that will be retained by the Tenant after Landlord’s recapture and the Base Rent denominator of which shall be the rentable square footage of the Premises just prior to the recapture, and Tenaxx'x Xhare (ii) Tenant’s Share under this Lease shall be proportionately reduced) on the date the sublease or assignment was proposed by Tenant to be effective, and ). Landlord may lease such any space as to which the Lease is terminated as provided herein to any partyparty on such terms as Landlord, in its discretion, determines, including the prospective sublessee or assignee Proposed Transferee identified by Tenant. In any event, Tenant shall bear the costs of any demising walls and code-related work associated with such sublease or termination.