Recapture Right Sample Clauses
Recapture Right. The Cedent may, in its discretion recapture all reinsurance ceded with respect to the Reinsurer at any time during which the Reinsurer may be in insolvency proceedings pending in the courts of the State of New York, USA, subject to the payment of a Terminal Accounting and Settlement, and any Supplemental Settlements that may be necessary or appropriate, as described in Article IX, Paragraphs (3) and (4).
Recapture Right. In lieu of giving or withholding consent pursuant to Section 13.1, Landlord may, within the thirty (30) day period provided in Section 13.1, elect by written notice to Tenant to terminate this Lease or, if a proposed Transfer affects only a portion of the Premises, to terminate this Lease as respects that portion. If Landlord elects to terminate the Lease as set forth above, Tenant may negate Landlord's election by delivering written notice withdrawing its request for Landlord's consent to the Transfer within five (5) days of Tenant's receipt of Landlord's notice. If Landlord elects to terminate this Lease as set forth above, Landlord will release Tenant from liability under this Lease for future Basic Rent and Additional Rent with respect to the Premises (or the portion of the Premises subject to the proposed Transfer) accruing after the effective date of termination. Landlord and Tenant agree and acknowledge that Landlord's right to recapture as set forth above is intended to permit Landlord to maintain control over the leasing or subleasing of space in the Property, to protect its interest in the Property and the interest of any lenders and to prevent such interest from being impaired. Tenant understands the nature of this right and has approved the recapture provisions in consideration for (a) Tenant's right to negate Landlord's recapture election by withdrawing its request for a Transfer and (b) Landlord's agreement to release Tenant from liability for Rent accruing after the effective date of termination with respect to the recaptured portion of the Premises pursuant to the provisions of this Section.
Recapture Right. 53 17.2 Put Option ................................................................. 63
Recapture Right. (a) Pursuant to the terms of this Section 17.1, during the [***] Sprint may elect to terminate a portion of this Agreement as it relates to certain Spectrum and, subject to the receipt of any required consents or other contractual obligations of Operator with respect to any Operator Controlled Spectrum, to acquire certain Operator Controlled Spectrum in Closed Markets. As used herein, the term "recapture" refers to Sprint's right to terminate this Agreement as to such Spectrum and, subject to the receipt of any required consents or other contractual obligations of Operator with respect to any Operator Controlled Spectrum to acquire such Operator Controlled Spectrum. At any time during the [***] Sprint may from time to time, by providing written notice of Sprint's intent to exercise its recapture rights with respect to a closed Market (a "Recapture Notice"), elect to recapture up to approximately [***] of the total Spectrum and Operator Controlled Spectrum, excluding any Operator Controlled Spectrum that Sprint has elected to exclude pursuant to Section 17.l(h)(iv), in each Closed Market as of the Closing of such Closed Market plus any additional Spectrum or Operator Controlled Spectrum in such Closed Market which after such Closing became subject to this Agreement, less any Spectrum or Operator Controlled Spectrum which is no longer subject to this Agreement pursuant to the terms of this Agreement (other than any Spectrum or Operator Controlled Spectrum which has been the subject to the exercise of the recapture rights, Put Option or Call Option prior to any such election by Sprint). As used herein, "Eligible Spectrum" means, subject to Section 17.1(h)(iv) and obtaining the necessary consents to transfer any Operator Controlled Spectrum, all Spectrum and Operator Controlled Spectrum in a given Closed Market then subject to the terms of this Agreement. Following the [***] of the Initial Closing Date, Sprint may only recapture Unincorporated Spectrum. "Unincorporated Spectrum" means any Spectrum or Operator Controlled Spectrum in a Closed Market which (i) is not then being used by Operator, (ii) has not been sublet by Operator to an unaffiliated third party as permitted pursuant to Article XII, (iii) is not part of Operator's then current plan for deployment of additional spectrum or services within the Term, or (iv) is capable of being exchanged for other Spectrum or Operator Controlled Spectrum without material interference to Operator's existing commercia...
Recapture Right. Instead of giving or withholding consent pursuant to Section 13.1, Landlord may, within the 30 day period provided in Section 13.1, elect by written notice to Tenant to recapture (that is, to terminate this Lease with respect to) the Premises or, if a proposed Transfer affects only a portion of the Premises, that portion of the Premises. If Landlord so exercises Landlord’s recapture right, Tenant may negate such recapture by delivering written notice to Landlord, within five (5) days of Tenant’s receipt of Landlord’s recapture notice, canceling the proposed Transfer and withdrawing Tenant’s request for consent to the Transfer. If Landlord elects to recapture some or all of the Premises as set forth above, and Tenant does not so negate the recapture, then this Lease will terminate with respect thereto (pursuant to the provisions of this Lease, including without limitation Article 16) as of the date the Transfer would otherwise have occurred as if the Term therefor had expired on such date.
Recapture Right. Sublandlord shall have the right (the “Recapture Right”) to recapture approximately 10,000 square feet of the Subleased Premises, together with any Sublandlord FF&E which is located in such space as of the Commencement Date. The space which Sublandlord may elect to recapture and the Sublandlord FF&E which shall be located therein as of the Commencement Date is more particularly depicted on Exhibit H attached hereto (the “Recapture Space”), provided that the Recapture Space is subject to such reasonable modifications as may be required for final demising plans and specifications required for construction permits. The Recapture Right shall expire if not exercised on or before December 31, 2022. Notwithstanding the foregoing, but subject to Section 1.2 above, Sublandlord agrees that Subtenant shall be entitled to remove and/or reconfigure any Sublandlord FF&E which is located in the Recapture Space until the Recapture Effective Date, and if so removed, Subtenant shall be entitled to store the Sublandlord FF&E either within the Subleased Premises or at an offsite facility. To exercise the Recapture Right, Sublandlord shall provide no less than ninety (90) days prior written notice to Subtenant of its intent to exercise its Recapture Right. Such notice shall specify a “Recapture Effective Date” which is at least ninety (90) days after the date of such notice. If Sublandlord exercises the Recapture Right, Sublandlord shall be solely responsible for all costs in connection therewith, including but not limited to design, permits, approvals and construction costs in connection with demising the Recapture Space to code, including the construction of any necessary corridors, lobbies and vestibules, etc. and separation of any Building systems including air balancing (the “Demising Work”). The Demising Work shall also include any cabling or moving costs incurred as a direct result of demising of the Subleased Premises, the reassembly of any Sublandlord FF&E which was disassembled or reconfigured, including without limitation furniture systems, and such work shall be at Sublandlord’s sole cost and expense, provided however that Subtenant shall be solely responsible for all costs and expenses incurred in connection with returning any Sublandlord FF&E that was removed from the Subleased Premises to the Subleased Premises. The Demising Work design shall ensure that Subtenant maintains a double door entrance into its portion of the Subleased Premises. Sublandlord shall make...
Recapture Right. Business ceded under the agreement shall not be eligible for recapture, provided however, if any Reinsured Contract that was not otherwise known to have been issued by the Company outside New York as of the Effective Date later becomes known as having been issued by the Company outside of New York, the Reinsured Contract shall be recaptured at that time. Upon recapture of any such Reinsured Contract, the Reinsurer shall pay to the Ceding Company, a recapture amount equal to the sum of (1) the modified coinsurance reserve as of the date of recapture plus (2) the greater of the coinsurance reserve as of the date of recapture and the fair value of the coinsured liabilities as calculated by the Ceding Company in accordance with generally accepted accounting principles as of the date of recapture. The Ceding Company shall pay to the Reinsurer a modified coinsurance reserve adjustment equal to the modified coinsurance reserve as of the date of recapture.
Recapture Right. Business ceded under the agreement shall not be eligible for recapture.
Recapture Right. In lieu of giving its consent a proposed assignment or subletting, affecting sixty percent (60%) or more of the Premises, Landlord may terminate the Lease as to the portion of the Premises affected by the action for which Landlord's consent is requested and recover possession thereof from Tenant within twenty (20) days following written notice thereof to Tenant. All costs incurred by Landlord in separating the remainder of the Premises from the area so retaken shall be paid by Tenant as Additional Rent.
Recapture Right. Notwithstanding any of the above provisions of this Section 16 to the contrary, in the case of a proposed assignment of this Lease or a sublease or other Transfer of all or any portion of the Premises (other than to a Permitted Transferee), Landlord, in lieu of consenting to such assignment or sublease, may, by giving written notice to Tenant within twenty (20) days after receipt of Tenant’s Notice of Proposed Transfer, elect to terminate this Lease with respect to the Subject Space, provided that in the event of an assignment of this Lease or a sublease of more than fifty percent (50%) of the rentable square footage of the Premises, Landlord may elect to terminate this Lease in its entirety. If Landlord recaptures the Subject Space, the following provisions shall apply: (a) Landlord, at Landlord’s expense, shall construct any demising walls required to demise the Subject Space; and Tenant shall be responsible, at Tenant’s expense, for painting, covering or otherwise decorating the surfaces of the partitions facing the Premises retained by Tenant; (b) if this Lease shall be cancelled with respect to less than the entire Premises, the Base Rent shall be prorated on the basis of the number of rentable square feet retained by Tenant in proportion to the number of rentable square feet contained in the Premises and Tenant’s Share shall be appropriately adjusted, and the parties shall execute and deliver an amendment reflecting such modifications; and (c) Landlord may thereafter lease such space to any party, including the prospective Transferee identified by Tenant, on such terms as shall be acceptable to Landlord in its sole and absolute discretion, and Tenant hereby waives any claims against Landlord related thereto, including any claims for compensation or profit related to such lease or occupancy agreement.