Recapture Right definition

Recapture Right with respect to the Recapture Space. If the Recapture Space is the entire Premises, and Landlord elects to exercise its Recapture Right, the Lease shall terminate on the date that is thirty (30) days following the date of the Assignment Notice (“Recapture Date”). If the Recapture Space is less than the entire Premises, and Landlord elects to exercise its Recapture Rights,: (i) the Lease shall terminate with respect to the Recapture Space only on the Recapture Date; (ii) Tenant shall reimburse Landlord, as Additional Rent, for the cost of installing a demising wall between the Recapture Space and the remaining balance of the Premises; (iii) the Rent payable under this Lease shall be proportionately reduced based on the square footage of the Recapture Space; and (iv) Landlord and Tenant will enter into an amendment to the Lease properly evidencing the space reduction. If Landlord fails to exercise the Recapture Right within the required timeframe, the Lease shall not terminate with respect to the Recapture Space and Tenant shall be free to proceed with the proposed transaction, subject to the restrictions and requirements otherwise set forth in Paragraph 8(a), above. Landlord may lease the recaptured portion of the Premises to the proposed assignee or subtenant without liability to Tenant. Upon any recapture (or partial recapture) as provided under this Paragraph 8(d), Landlord and Tenant shall have no further obligations or liabilities to each other under this Lease with respect to the Recapture Space, except with respect to obligations or liabilities which accrue or have accrued as of the date of such termination or those obligations or liabilities which expressly survive the termination of this Lease.
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Recapture Right shall have the meaning assigned thereto in Section 14.2.
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Recapture Right shall have the meaning set forth in Section 8.04A(i) hereof.
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Examples of Recapture Right in a sentence

  • To date back, the synchronized usage of chest compressions, ventilations, and electrical defibrillation to be incorporated into the CPR algorithm as we know of today has only been 20 years.Global recognition towards resuscitation advancements is made possible through the formation of the International Liaison Committee on Resuscitation (ILCOR) in 1992 (Kleinman et al., 2018; Neumar & Perkins, 2018; Kiguchi et al., 2020).

  • If Landlord exercises the Sublet Recapture Right, then (1) Tenant shall, at its sole cost and expense, separately demise the remaining portion of the Premises from the Recapture Space; and (2) as of the Sublease Effective Date Tenant shall have no obligations under this lease with respect to the Recapture Space.

  • Landlord shall either exercise Landlord’s Recapture Right as aforesaid or grant or deny its consent to the proposed assignment or sublease by notice from Landlord to Tenant within fifteen (15) days after Landlord’s receipt of Tenant’s notice and the items listed in clauses (i) – (vii) of Section 8.3(a).

  • If Landlord elects to exercise the Assignment Recapture Right, then Tenant shall have twenty (20) days from the date it receives the Landlord Recapture Notice to rescind the proposed assignment or sublet to a non-Affiliate (the “Rescission Period”) by notice to Landlord.

  • After exercise of the Recapture Right, the parking spaces in the Action Parking Area shall be governed by Article 7 and the rights of Landlord under Article 7 and, in any event, Tenant's rights in the Parking Spaces, shall, unless Landlord otherwise elects, be non-exclusive and subject to limitation as to the number of paces available to Tenant as provided in Article 7.

  • SBI Fixed Maturity Plan (FMP) - Series 51 to 60 (.....Days/Months), will have a separate portfolio.

  • Landlord may exercise the Recapture Right as often as Landlord may require from time to time and this Lease shall, as to such portion of the Premises as is included and specified in a Recapture Notice, terminate on the date set forth in any such Recapture Notice, which date shall be not sooner than twenty (20) days after the giving of such Notice, if the Recapture Notice relates to 30,000 square feet or less.

  • Notwithstanding anything to the contrary contained herein, neither the Recapture Right nor Tenant’s obligation to share excess consideration with Landlord pursuant to the terms of Section 17.08 hereof shall apply to Transfers pursuant to Section 17.09 and Section 17.10.

  • No Transfer shall relieve Tenant of its primary obligation as party Tenant hereunder, nor shall it reduce or increase Landlord’s obligations under this Lease.13.2 Landlord’s Recapture Right.

  • Thus, a prevailing representation of technology emerges as the discursive ‘bridge’ between each storyline, promising a policy pathway which reconciles typically conflictual concerns for fossil fuel extractivism, economic growth, and climate action.

Related to Recapture Right

  • Recapture Period means the period commencing on the Effective Date and ending on the fifth anniversary of the last date that a Project owned by the Company is Placed in Service.

  • Recapture Amount means, with respect to any Employment Violation by Grantee, the gross gain realized or unrealized by Grantee upon all vesting of Restricted Share Units or delivery or transfer of Vested Shares during the Look-back Period with respect to such Employment Violation, which gain shall be calculated as the sum of:

  • Recapture Income means any gain recognized by the Partnership (computed without regard to any adjustment required by Section 734 or Section 743 of the Code) upon the disposition of any property or asset of the Partnership, which gain is characterized as ordinary income because it represents the recapture of deductions previously taken with respect to such property or asset.

  • Cure Right shall have the meaning assigned to such term in Section 7.03.

  • Termination Option means the option of either party to terminate a transaction in the event that the other party fails to perform a Firm obligation to deliver Gas in the case of Seller or to receive Gas in the case of Buyer for a designated number of days during a period as specified on the applicable Transaction Confirmation.

  • Recapture Event means any of the following events:

  • Termination Right have the respective meanings given in the PRA Contractual Stay Rules.

  • car-share parking space means a parking space that is reserved and actively used for car-sharing;

  • Renewal Option has the meaning set forth in §12.1.

  • Repurchase Option has the meaning set forth in Section 1.3(a) hereto.

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.

  • land tenure right means an old order right or a new order right as defined in section 1 of the Communal Land Rights Act, 2004 (Act No.11 of 2004);

  • Put Right has the meaning set forth in Section 8.05(a).

  • Purchase Option Period As defined in Section 9.03(a) hereof.

  • Exercise Right means the Exercise Right as specified in § 3 (1) of the Special Conditions.

  • Conversion Right has the meaning provided in Section 4.5(a) hereof.

  • Financial Transmission Right Option means a right to receive Transmission Congestion Credits as specified in Operating Agreement, Schedule 1, section 5.2.2(c), and the parallel provisions of Tariff, Attachment K-Appendix, section 5.2.2(c).

  • Extension Option shall have the meaning set forth in Section 2.5(c) hereof.

  • Termination Option Event means an event of a kind defined as such in Section 4.1, 4.2 or 4.8.

  • Default Right has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.

  • First Refusal Right means the right granted to the Corporation in accordance with Article E.

  • bicycle parking space – occupant means an area that is equipped with a bicycle rack, locker or bicycle stacker for the purpose of parking and securing bicycles, and:

  • Put Option means an exchange traded option with respect to Securities other than Stock Index Options, Futures Contracts, and Futures Contract Options entitling the holder, upon timely exercise and tender of the specified underlying Securities, to sell such Securities to the writer thereof for the exercise price.

  • Incentive Distribution Right means a Limited Partner Interest having the rights and obligations specified with respect to Incentive Distribution Rights in this Agreement (and no other rights otherwise available to or other obligations of a holder of a Partnership Interest).

  • Expense Year means each calendar year in which any portion of the Lease Term falls, through and including the calendar year in which the Lease Term expires, provided that Landlord, upon notice to Tenant, may change the Expense Year from time to time to any other twelve (12) consecutive month period, and, in the event of any such change, Tenant’s Share of Direct Expenses shall be equitably adjusted for any Expense Year involved in any such change.

  • Option Term means a period, if any, through which this Agreement may be or has been extended by the JBE.