Right of Recapture. In the event that (x) within one year after termination of this Agreement and Executive’s employment for any reason the Company determines that prior to such termination he engaged in any activity which would have constituted a basis for termination by the Company for Cause while employed by the Company or (y) Executive breaches the restrictive covenants of Section 8, then:
Right of Recapture. In addition to and without limitation upon, the ------------------ other rights of Lessor in the event of a proposed Transfer by Lessee pursuant to this Article 13, in the event of a proposed Transfer by Lessee, Lessor may elect (by written notice delivered to Lessee within thirty (30) days following Lessee's submission to Lessor of all information required pursuant to subsection 13.d. above) to terminate this Lease effective as of the date Lessee proposes to enter into such Transfer (or in the case of a proposed Transfer of less than all of the Premises, terminate this Lease as to the portion of the Premises proposed to be Transferred as of the date of such proposed Transfer); provided that Lessee shall have the right to nullify such an election to terminate by Lessor pursuant hereto by withdrawing such request for a proposed Transfer within fifteen (15) days following Lessee's receipt of such termination notice from Lessor. Except as expressly provided in the immediately preceding sentence, nothing contained in this Article shall be deemed to nullify Lessor's right to elect to terminate this Lease in accordance with this subsection 13.g. including, but not limited to, Lessor's failure to exercise the right to terminate this Lease with respect to any previous Transfer. Further, Lessee understands and acknowledges that Lessor's option to terminate this Lease rather than approve a proposed Transfer is a material inducement for Lessor's agreeing to lease the Premises to Lessee upon the terms and conditions herein set forth and is deemed a reasonable limitation upon Lessee's right to enter into a Transfer.
Right of Recapture. If Xxxxxx agrees to assign this Lease or to sublet all or any portion of the Premises, Tenant shall deliver to Landlord executed counterparts of any such agreement and all ancillary agreements with the proposed assignee or subtenant prior to the effective date thereof (the “Effective Date”). Landlord shall have the right to do any of the following by giving Xxxxxx written notice thereof within thirty (30) days after receiving all of the foregoing documents:
Right of Recapture. Notwithstanding anything contained in 10.1 to the contrary, in the event Tenant desires to assign or sublet or seek permission for any assignment or subletting of all or any portion of the Premises, then Landlord shall have the right of recapture or of first refusal, as applicable, with respect to said space, and shall have the right, by notice to Tenant, to either recapture or to receive an assignment of the Lease or a sublease of the Premises on the same terms and conditions as the terms and conditions of the assignment or subletting proposed by Tenant. In the event Landlord should decide to exercise its rights pursuant to this paragraph, Landlord shall give to Tenant written notice exercising its right of first refusal herein contained within ten (10) business days from the date of Tenant's written notice to Landlord or written application to Landlord for consent to the assignment or subletting, in which event, in the case of a recapture, the Lease shall terminate, and in the case of an assignment or full subletting, Tenant shall be released from all obligations, rights and liabilities from and after the recapture date. In the event Landlord does not give such written notice within the ten (10) day period specified, then Landlord's right of first refusal herein contained shall be null and void, and of no further force and effect as to the space covered by the proposed assignment or sublease only. However, nothing contained herein shall in any way constitute an approval of the assignment or subletting by Landlord, nor shall anything herein contained be construed to impair, hinder or otherwise modify the required approval of Landlord as provided herein to any such assignment or subletting. The recapture date shall be the date as of which tenant intends to assign or sublease or the commencement date of the proposed assignment or sublease, as applicable.
Right of Recapture. At any time within thirty (30) days after Landlord's receipt of the information specified in Section 12.1 above, Landlord may, by written notice to Tenant, elect (i) to sublease the Property or the portion thereof proposed to be subleased by Tenant, or to take an assignment of Tenant's estate hereunder or such part thereof as shall be specified in said notice, on the same terms and conditions as those contained in said notice; or (ii) to participate with Tenant in any payments (including but not limited to rent, security deposit and operating expenses) received by Tenant from any assignee or subtenant in excess of the payments made by Tenant to Landlord hereunder, which election shall entitle Landlord to fifty percent (50%) of such excess, which shall be paid to Landlord within five (5) days after receipt by Tenant. If Landlord does not exercise either of the options set forth in this Section 12.5 within said 30-day period, Tenant may within ninety (90) days after the expiration of said 30-day period enter into a valid assignment or sublease of the Property or portion thereof upon the terms and conditions set forth in the notice furnished by Tenant to Landlord pursuant to Section 12.1 above, subject, however, in each instance, to Landlord's consent as set forth in Section 12.1 above.
Right of Recapture. Despite any other provision of this Lease, Tenant shall notify Landlord in writing (Availability Notice) if Tenant wishes to transfer the Premises or any portion thereof (Subject Space). If Tenant does not give Landlord the Availability Notice before delivering a Transfer Notice, the Transfer Notice shall also be the Availability Notice. Landlord has the option, by written notice to Tenant (Recapture Notice) within thirty (30) days after receiving any Availability Notice, to recapture the Subject Space as described in the next section. A timely Recapture Notice terminates this Lease as to the Subject Space and Tenant’s obligations regarding the remaining term of this Lease (or, at Landlord’s election, for a shorter period specified in the Availability Notice as the term of the Transfer) and as of the date specified in the Availability Notice. The Recapture Notice shall be void, however, if Tenant notifies Landlord, within thirty (30) days after receipt of the Recapture Notice, that Tenant withdraws the Availability Notice or Transfer Notice. If Landlord declines or fails timely to elect to recapture the Subject Space, Landlord shall have no further right under this section to the Subject Space unless it becomes available again after Transfer by Tenant.
Right of Recapture. Effective January 1, 2010 and subject to the terms of this section 5A but otherwise notwithstanding any other provision of this Agreement or the terms of any compensation arrangement, plan or program, Executive shall pay the Company a sum equal to the Recapture Amount if, and to the extent that, (i) payment of Incentive Compensation is or was contingent upon the achievement of one or more specified financial performance targets and (ii) the amount of such Incentive Compensation is, or would have been, affected by a Mandatory Restatement that the Company is required to implement that results directly from Executive’s fraudulent or knowing, intentional misconduct.
Right of Recapture. Despite any other provision of this Lease, Tenant shall notify Landlord in writing (Availability Notice) if Tenant wishes to transfer the Premises or any portion thereof (Subject Space). If Tenant does not give Landlord the Availability Notice before delivering a Transfer Notice, the Transfer Notice shall also be the Availability Notice. Landlord has the option, by written notice to Tenant (Recapture Notice) within thirty
Right of Recapture. In addition, but not in limitation of, Landlord’s right to approve of any subtenant or assignee, Landlord shall have the option, in its sole discretion, in the event of any proposed subletting or assignment, to terminate this Lease, or in the case of a proposed subletting of less than the entire Premises, to recapture the portion of the Premises to be sublet, as of the date the subletting or assignment is to be effective. The option shall be exercised, if at all, by Landlord giving Tenant written notice thereof within thirty (30) days following Landlord’s receipt of Tenant’s written notice as required above. If this Lease shall be terminated with respect to the entire Premises pursuant to this subparagraph, the Term shall end on the date stated in Tenant’s notice as the effective date of the sublease or assignment as if that date had been the Expiration Date. If Landlord recaptures only a portion of the Premises under this subparagraph, the Base Rent during the remainder of the Term shall xxxxx proportionately based on the Base Rent payable hereunder as of the date immediately prior to such recapture.
Right of Recapture. Notwithstanding the foregoing, at the expiration of the original term, or any renewal term, if applicable, the Landlord shall have the right, in its sole and absolute discretion, to terminate this lease and recapture possession of the demised premises. In order to exercise this right, the Landlord shall notify Tenant, in writing, no less than seven (7) months prior to the expiration of the original term, or any renewal term, as the case may be. Termination of this lease at the expiration of the original term shall also act to extinguish any renewal rights hereunder.
