Common use of Recapture Right Clause in Contracts

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. In lieu of giving or withholding consent pursuant to Section 13.1, Landlord may, ; within the thirty (30) day 15 Business 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 ’s election by delivering written notice withdrawing its request for Landlord's ’s consent to the Transfer within five (5) days of Tenant's ’s receipt of Landlord's ’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 ’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 ’s right to negate Landlord's ’s recapture election by withdrawing its request for a Transfer and (b) Landlord's ’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. In lieu of giving or withholding consent pursuant to Section 13.1, Landlord may, within the thirty (30) day period provided in Section 13.1at its option, elect by written notice to Tenant to terminate this Lease or, if (or in the case of a proposed Transfer affects only subletting or assignment of a portion of the Premises, elect to terminate this Lease as respects that portion) upon thirty (30) days' prior notice. If Thereafter Landlord may enter into a lease agreement with such proposed transferee. In the event 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 by delivering notice thereof to Landlord within five ten (510) days of Tenant's receipt of Landlord's notice. If Landlord elects In consideration for Landlord's right and election 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 termination of terminationthis Lease resulting from Landlord's exercise of such right. 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, Project to protect its interest in the Property Project 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 (ai) Tenant's right to negate Landlord's recapture election by withdrawing its request for a Transfer and (bii) Landlord's agreement to release Tenant from liability for Rent accruing arising or relating to events or obligations after the effective date of such termination with respect to the recaptured portion of the Premises pursuant to the provisions of this Section.

Recapture Right. In lieu of giving or withholding consent pursuant to Section 13.1Paragraph 21.A above, Landlord may, within the thirty (30) day period provided in Section 13.1at its option, elect by written notice to Tenant to terminate this Lease or, if (or in the case of a proposed Transfer affects only subletting or assignment of a portion of the Premises, elect 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 and release Tenant from any liability under this Lease for future Basic Rent and Additional Rent with respect (as to the Premises (or the that portion of the Premises subject to the proposed Transferinvolved) accruing after the effective date of terminationsuch termination ("Landlord's Recapture Right"), subject to the following provisions. Landlord shall exercise Landlord's Recapture Right, if at all, by giving Tenant notice of such exercise not later than thirty (30) days after Tenant notifies Landlord that Tenant desires to assign the Lease or sublease the Premises (whether or not Tenant has located a specific proposed transferee). If Landlord fails to exercise Landlord's Recapture Right within said thirty (30) day period, such right shall be of no further force or effect with respect to the transaction in question. Landlord and Tenant agree and acknowledge that Landlord's right to recapture Recapture Right as set forth above is intended to permit Landlord to maintain control over the leasing or subleasing of space in the PropertyPremises, to protect its interest in the Property and the interest of any lenders Premises 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 future Rent accruing after the effective date of termination due with respect to the recaptured portion of the Premises pursuant to the provisions of this Section.