Example ContractsClausesRight of Recapture
Right of Recapture
Right of Recapture contract clause examples

Landlord’s Recapture Right. Notwithstanding anything herein to the contrary, prior to Tenant’s commencement of any marketing of all or part of the Premises for possible assignment or for a possible sublease to anyone other than a Permitted Transferee, Tenant shall give notice (the “Recapture Offer”) to Landlord offering to terminate this Lease (in the case of a proposed assignment of this Lease or a sublease for the balance of the Term, including extension options), or offering to suspend the Term with respect to the portion (the “Recapture Premises”) for the proposed term (the “Recapture Term”) of the sublease (including the approximate date of commencement of the Recapture Term), as the case may be. In either case, the effective date of recapture shall be the estimated date of commencement of the Recapture Term, as set forth in the Recapture Offer. Landlord may accept the Recapture Offer by giving notice to Tenant within thirty (30) days after Landlord receives the Recapture Offer. If Landlord timely accepts a Recapture Offer: # the parties shall promptly execute a written agreement confirming Landlord’s acceptance of the Recapture Offer (the parties confirming that, with respect to a recapture of only a portion of the Premises, Base Rent and Additional Rent shall be appropriately prorated to reflect the reduction of the Premises during the Recapture Term), provided however, that the execution of such agreement shall not be a condition to the exercise by Landlord of its recapture right), and # Landlord shall be responsible for any costs made necessary by the exercise by Landlord of its recapture right (including, without limitation, demising work and work necessary in connection with the operation of utilities). If Landlord does not timely accept a Recapture Offer, then Tenant shall, subject to the provisions of this Section 14 (including Landlord’s right of approval), have the right to assign its interest in this Lease or sublease the Recapture Premises for the approximate Recapture Term, except that if Tenant does not enter into a Transfer consistent with the Recapture Offer within nine (9) months of the date of Landlord’s receipt of a Recapture Offer, then Tenant shall be required, as a condition to entering into any Transfer, to again give Landlord a Recapture Offer in accordance with this Section 14.3.

Right of Recapture. Unless otherwise provided in an Award Agreement, if at any time within 1 year after the date on which a Participant exercises an Option or Stock Appreciation Right or on which an another Award vests or becomes payable, or on which income otherwise is realized by a Participant in connection with an Award,

Right of Recapture. If at any time after the date on which a Participant has been granted or becomes vested in an Award pursuant to the achievement of a Performance Goal, the Committee determines that the earlier determination as to the achievement of the performance goal was based on incorrect data and that in fact the Performance Goal had not been achieved or had been achieved to a lesser extent than originally determined and a portion of an Award would not have been granted, vested or paid, given the correct data, then # such portion of the Award that was granted shall be forfeited and any related shares (or if such shares were disposed of, the cash equivalent) shall be returned to the Company as provided by the Committee, # such portion of the Award that became vested shall be deemed to be not vested and any related shares (or if such shares were disposed of, the cash equivalent) shall be returned to the Company as provided by the Committee, and # such portion of the Award paid to the Participant shall be paid by the Participant to the Company upon notice from the Company as provided by the Committee.

Right of Recapture. If at any time after the date on which a Participant has been granted or becomes vested in an Award pursuant to the achievement of a Performance Goal, the Committee determines that the earlier determination as to the achievement of the performance goal was based on incorrect data and that in fact the Performance Goal had not been achieved or had been achieved to a lesser extent than originally determined and a portion of an Award would not have been granted, vested or paid, given the correct data, then # such portion of the Award that was granted shall be forfeited and any related shares (or if such shares were disposed of, the cash equivalent) shall be returned to the Company as provided by the Committee, # such portion of the Award that became vested shall be deemed to be not vested and any related shares (or if such shares were disposed of, the cash equivalent) shall be returned to the Company as provided by the Committee, and # such portion of the Award paid to the Participant shall be paid by the Participant to the Company upon notice from the Company as provided by the Committee.

Right to Recapture. Other than with respect to a Transfer to a Permitted Transferee, provided the proposed Transfer is for a majority of the balance of the Sublease Term, Sublessor may, upon notice of such intent to Transfer given pursuant to Section 14.1 of the Master Lease from Sublessee, exercise the recapture right set forth in [Section 14.4] of the Master Lease within ten (10) business days by delivery of written notice of recapture to Sublessee. Notwithstanding the foregoing, if Sublessor exercises its recapture right pursuant to [Section 14.4] of the Master Lease, Sublessee shall have the right, upon written notice to Sublessor not later than five (5) days after Sublessor exercises such right, to rescind its request for consent to the Transfer, in which case this Sublease shall continue unmodified and in full force and effect. Sublessor’s failure to deliver such recapture notice within the time set forth herein shall entitle Sublessee to proceed with the proposed Transfer, subject to consent and approval of Master Lessor.

Recapture. By written notice to Tenant (the “Termination Notice”) within thirty (30) days following submission to Landlord by Tenant of the information specified in [section 21.6], Landlord may # terminate this Lease in the event of an assignment of this Lease or sublet of the entire Leased Premises, or # terminate this Lease as to the portion of the Leased Premises to be sublet, if the sublet is to be of less than the entire Leased Premises. If Landlord elects to terminate under the provisions hereof, and the area to be terminated is less than the entire Leased Premises, an amendment to this Lease shall be executed in which Tenant’s obligations for rent and other charges shall be reduced in proportion to the reduction in the size of the Leased Premises caused thereby by restating the description of the Leased Premises, and its monetary obligations hereunder shall be reduced by multiplying such obligations by a fraction, the numerator of which is the Rentable Area of the Leased Premises offered for sublease and the denominator of which is the Rentable Area of the Leased Premises immediately prior to such termination, as determined by Landlord in its sole and absolute discretion.

Landlord’s Recapture Right. Subject to the provisions of this Section 13.2, Tenant shall, prior to offering or advertising the Premises or any portion thereof for a Transfer (other than to a Permitted Transferee, as defined in Section 13.7), give a written notice (the “Recapture Notice”) to Landlord which: # states that Tenant desires to make a Transfer, # identifies the affected portion of the Premises (the “Recapture Premises”), # identifies the period of time (the “Recapture Period”) during which Tenant proposes to sublet the Recapture Premises, or indicates that Tenant proposes to assign its interest in this Lease, and # offers to Landlord to terminate this Lease with respect to the Recapture Premises (in the case of a proposed assignment of Tenant's interest in this Lease or a subletting for the remainder of the term of this Lease) or to suspend the Term for the Recapture Period (i.e. the Term with respect to the Recapture Premises shall be terminated during the Recapture Period and Tenant's rental obligations shall be proportionately reduced). Landlord shall have fifteen (15) business days within which to respond to the Recapture Notice by either accepting or rejecting the Recapture Offer. Tenant shall not be required to give Landlord a Recapture Notice (and Landlord shall not have a right to recapture) with respect to Early Minor Subleases, as hereinafter defined. An “Early Minor Sublease” shall be defined as any proposed sublease: # the term of which would commence as of a date (“Sublease Commencement Date”) which is prior to the third anniversary of the Term Commencement Date, and # the rentable area which would be subleased under such sublease when added to the rentable area of all other subleases in effect as of the Sublease Commencement Date will not exceed fifty percent (50%) of the rentable area of the Premises then demised to Tenant.

Sublandlord's Recapture Right. In the event of any proposed assignment or a sub-sublease of substantially all of the Subleased Premises other than as permitted in Section 17.2 above, the Sublandlord originally named herein (i.e., [[Sublandlord:Organization]]), or any entity succeeding to its rights under the Lease pursuant to the terms of [Section 8.01(B) or (C)])] of the Lease, shall have the rights set forth in [Section 8.04] of the Lease, as incorporated herein by reference pursuant to Section 6.3(a) above. For purposes of this [Section 17.6(a)] “substantially all of the Subleased Premises” shall mean at least eighty five percent (85%) of the rentable square footage of the Subleased Premises. The failure by Sublandlord to exercise its options under this Section 17.6 with respect to any assignment or sub-subletting shall not be deemed a waiver of such option with respect to any extension of such sub-subletting or any subsequent assignment or subsubletting of the Subleased Premises affected thereby. For the avoidance of doubt, the foregoing shall not be construed to limit any rights which Landlord may have under [Section 8.04] of the Lease.

Recapture. The first sentence of [Section 22(d)] is hereby deleted in its entirety and replaced with the following:

Landlord’s Recapture Right. Notwithstanding anything to the contrary contained in this Lease, Landlord shall have the following option with respect to any assignment, sublease or other transfer (other than to a Related Company) proposed by Tenant:

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