Recapture of Premises. Tenant's request of Landlord's consent to an assignment of this Lease or a subletting of all or any part of the Premises shall contain a written offer to Landlord to recapture the Premises (or the portion thereof proposed to be sublet, in the case of a subletting), at the lesser of (i) the then current rental in effect under this Lease; or (ii) the rental Tenant proposes to obtain as a result of the assignment or sublease. Upon receipt of such written offer, Landlord shall have the option, to be exercised within thirty (30) days following receipt of such offer, to accept the offer to recapture in accordance with this Section. If such offer is accepted by Landlord, Tenant shall execute an assignment of the Lease or a sublease to Landlord in a form acceptable to Landlord, with Landlord having the right to sublease the portion of the Premises affected to others without any requirement of obtaining Tenant's consent therefore. Except as hereafter provided, Tenant shall not be relieved of its liability under this Lease. If Landlord exercises its option to recapture and the assignment or sublease from Tenant provides for a rental rate equal to the rental rate in effect as of the date the option is exercised, Tenant shall be released of all further liability under this Lease as of the effective date of the assignment or sublease with respect to that portion of the Premises subject to the assignment or sublease. If Landlord does not exercise its option within the time herein specified and consents in writing to Tenant's request to assign or sublease, Tenant shall, in a form acceptable to the Landlord, assign or sublease to the assignee or subtenant named in Tenant's request within thirty (30) days from the date of Tenant's request at a rental rate equal to the rental rate specified in the request. In the event Tenant fails to execute and deliver any assignment or sublease within thirty (30) days from the date of Tenant's request, then Tenant shall again comply with all the provisions and conditions of this Section before assigning this Lease or subletting all or any portion of the Premises.
Recapture of Premises. In the event Tenant desires to sublet the Demised Premises or assign this Lease or effect the transfer of any interest in this Lease or in Tenant restricted pursuant to Section 4.1, Tenant shall give to Landlord written notice of Tenant's intended subtenant, assignee or transferee in order to secure Landlord's written consent in accordance with Section 4.1. Within ninety (90) days of receipt of said notice, Landlord shall have the right, at its option: (i) to terminate this Lease by giving Tenant not less than thirty (30) days notice if Tenant's notice states the Tenant's desire to assign this Lease or sublet more than fifty percent (50%) of the Demised Premises or effect a restricted transfer of an interest in this Lease or in Tenant; or (ii) if Tenant's notice states the Tenant's desire to sublet a portion of the Demised Premises, to terminate this Lease and simultaneously to enter into a new lease with Tenant for that portion of the Demised Premises Tenant may desire to retain upon the same terms, covenants and conditions as then set forth in this Lease, prorated based upon the space retained by Tenant. If Landlord exercises its right to terminate this Lease pursuant to clauses (i) or (ii) above, Tenant agrees that Landlord shall have access to all or any portion of the Demised Premises sixty (60) days prior to the effective termination date for remodeling or redecorating purposes. Tenant shall promptly execute such lease amendments and other documents as Landlord may require to effectuate the terms and intent of this Section 4.2.
Recapture of Premises. Xxxxxx's request for Xxxxxxxx's consent to the assigning this Lease or subletting all or any part of the Premises shall contain an offer to Landlord to recapture, at the then square foot rental rate or the rental Tenant proposes to obtain, whichever is lower, all or such part of the Premises which Tenant proposes to assign or sublet. Upon receipt of such offer, Landlord shall have the option, to be exercised within sixty (60) days following receipt, to accept the Tenant's offer to permit Landlord to recapture. If accepted, Xxxxxx shall execute an assignment of the Lease or a sublease to Landlord in a form acceptable to Landlord, with Landlord having the right to sublease or subrent to others. In such event, Tenant shall not be relieved of its liability under this Lease. If Landlord exercises its option to recapture and the assignment or sublease from Tenant provides for a rental rate equal to the rental rate in effect as of the date the option is exercised, Tenant shall be released of all further liability under this Lease, as of the effective date of the assignment or sublease, with respect to that portion of the Premises subject to the assignment or sublease.
Recapture of Premises. In the event Tenant desires to sublet the Demised Premises or assign the Lease, Tenant shall give the Landlord written notice of Tenant's intended subtenant or assignee in order to secure Landlord's written consent in accordance with Section 4.1. Within ninety (90) days of receipt of said notice, Landlord shall have the right: (i) to terminate this Lease by giving Tenant not less than thirty (30) days' notice in the case of an assignment of the entire Lease or a subletting of more than fifty percent (50%) of the Demised Premises; or (ii) to) terminate this Lease and simultaneously to enter into a new Lease with Tenant for that portion of the Demised Premises Tenant may desire to retain upon the same terms, covenants and conditions of the existing Lease as applicable to the space retained. If Landlord exercises its right to terminate this Lease, Tenant agrees that Landlord shall have access to all or a portion of the Demised Premises sixty (60) days prior to the effective termination date for remodeling or redecorating purposes.
Recapture of Premises. In connection with any proposed assignment or sublease, Tenant shall submit to Landlord in writing (a) the name of the proposed assignee or sublessee (b) such information as to its financial responsibility and standing as Landlord may reasonably require, and (c) all of the terms and conditions upon which the proposed assignment or subletting is to be made. Landlord shall have an option to cancel and terminate this Lease with respect to all or such portion of the Premises which is to be assigned or sublet. Landlord may exercise said option in writing within thirty (30) days after its receipt from Tenant of such request to assign or sublease the Premises. If Landlord shall exercise its option, Xxxxxx shall surrender possession of the entire Premises, or the portion thereof which is the subject of the option. If this Lease is cancelled as to a portion of the Premises only, the Rent after the date of cancellation shall be reduced in the proportion that the floor area of the cancelled portion bears to the total floor area of the Premises.
Recapture of Premises. In connection with any proposed assignment or sublease, Tenant shall submit to Landlord in writing (a) the name of the proposed assignee or subtenant, (b) such information as to its credit history, financial responsibility and standing as Landlord may reasonably require, and (c) all of the terms and conditions upon which the proposed assignment or subletting is to be made. If the square footage of the portion of the Premises proposed to be assigned or sublet by Tenant is fifty percent (50%) or greater of the total square footage of the Premises, then Landlord shall have an option to cancel and terminate this Lease with respect to all, or such portion, of the Premises which is to be assigned or sublet. Landlord may exercise said option in writing within fifteen (15) days after its receipt from Tenant of such request to assign or sublease the Premises. If Landlord shall exercise its option, Tenant shall surrender possession of the portion thereof which is the subject of the option. If this Lease is canceled as to a portion of the Premises only, the Rent after the date of cancellation shall be reduced in the proportion that the floor area of the canceled portion bears to the total floor area of the Premises.
Recapture of Premises. 8 4.3 Excess Rent and Other Consideration. ............................. 8 4.4
Recapture of Premises. In the event Tenant desires to sublet the Demised Premises or assign the Lease, Tenant shall give the Landlord written notice of Tenant's intended subtenant or assignee in order to secure Landlord's written consent in accordance with Section 4.1. Within ninety (90) days of receipt of said notice, Landlord shall have the right: (i) to terminate this Lease by giving Tenant not less than thirty (30) days' notice in the case of an assignment of the entire Lease or a subletting of more than fifty percent (50%) of the Demised Premises; or (ii) to terminate this Lease and simultaneously to enter into a new Lease with
Recapture of Premises. 5.4. Mortgage by Landlord. 5.5. Subordination. 5.6. Attornment. 5.7.
Recapture of Premises. (a) For a period of thirty (30) days after Lessee has given written notice to Lessor requesting consent to an assignment of this Lease or a sublease of all or a portion of the Premises, which notice shall identify the proposed assignee or subtenant and specify the terms of the proposed assignment or sublease, Lessor shall have the right, exercisable by Lessor by giving written notice ("Lessor's Termination Notice") to Lessee, to terminate this Lease as to that portion of the Premises that Lessee proposes to assign or sublease effective ninety (90) days following the date of Lessor's Termination Notice to Lessee. If Lessor elects to terminate this Lease as to such portion of the Premises, Lessee shall, on or before the effective termination date in Lessor's Termination Notice, vacate and deliver to Lessor possession of that portion of the Premises subject to Lessor's Termination Notice.
