Common use of Recapture Option Clause in Contracts

Recapture Option. Sublandlord shall have the right (herein called the "Recapture Option"), at Sublandlord's sole option, (i) in the event of a proposed assignment of this Sublease or subletting of all of the Subleased Premises, to terminate this Sublease in its entirety as of the "Effective Termination Date" (as such term is hereinafter defined), or (ii) in the event of a proposed subletting of part (but not all) of the Subleased Premises, to terminate this Sublease only as to that portion of the Subleased Premises which Subtenant has proposed to sublet, in which event Subtenant's obligations as to the Minimum Annual Rent and Operating Expense Increases hereunder shall be reduced, as of the Effective Termination Date, in the same proportion as the proportion of the rentable area of the portion of the Subleased Premises so proposed to be sublet bears to the total rentable area of the Subleased Premises. If Sublandlord elects to exercise the Recapture Option to terminate this Sublease in whole or in part, Sublandlord shall do so by the giving of written notice thereof to Subtenant within thirty (30) days after Sublandlord's receipt of Subtenant's notice described in Paragraph 11(b) hereinabove, which notice from Sublandlord (the "Recapture Notice") shall specify the date (herein called the "Effective Termination Date") on which such termination shall become effective; provided, however, that such date shall in no event be more than sixty (60) nor less than twenty (20) days after the date of the giving of such Recapture Notice; but, provided further, however, that if Subtenant notifies Sublandlord within three (3) business days after receipt of such Recapture Notice that it is withdrawing its request to sublet such portion of the Subleased Premises or to assign this Sublease, Landlord's Recapture Notice shall be of no force and effect. If Sublandlord fails to timely exercise the Recapture Option in accordance with the provisions of the preceding sentence, Subtenant may thereafter, subject to the giving of Sublandlord's and the Prime Landlord's prior written consent (as herein provided for), proceed with the Proposed Transaction contemplated by the notice furnished to Sublandlord by Subtenant pursuant to the provisions of Paragraph 11(b) hereinabove on the same terms and conditions as set forth in said notice, provided, however, that any such consent by Sublandlord shall be expressly conditioned upon Subtenant's compliance with the provisions of Paragraph 11(d) hereinbelow.

Recapture Option. Sublandlord A. Landlord shall have the right following right, (herein called the "Recapture Option"), at Sublandlord's sole option, (i) in the event of a proposed assignment of this Sublease or subletting of all of the Subleased Premises, to terminate this Sublease in its entirety as of the "Effective Termination Date" (as such term is hereinafter defined), or (ii) in the event of a proposed subletting of part (but not all) of the Subleased Premises, to terminate this Sublease only as to that portion of the Subleased Premises which Subtenant has proposed to sublet, in which event Subtenant's obligations as to the Minimum Annual Rent and Operating Expense Increases hereunder shall be reduced, as of the Effective Termination Date, in the same proportion as the proportion of the rentable area of the portion of the Subleased Premises so proposed to be sublet bears exercised by notice ("Exercise Notice") given to the total rentable area of the Subleased Premises. If Sublandlord elects to exercise the Recapture Option to terminate this Sublease in whole or in part, Sublandlord shall do so by the giving of written notice thereof to Subtenant Tenant within thirty (30) days after Sublandlord's receipt of SubtenantTenant's notice described in Paragraph 11(b) hereinabove, which notice from Sublandlord request for consent and all additional information requested by Landlord pursuant to Section 10.02 hereof: Landlord may require Tenant to surrender the Demised Premises to Landlord and to accept a termination of this Lease as of a date (the "Recapture Notice") shall specify the date (herein called the "Effective Termination Date") on to be reasonably designated by Landlord in the Exercise Notice, which such termination shall become effective; provided, however, that such date shall in no event not be less than thirty (30) days nor more than sixty (60) nor less than one hundred twenty (20120) days after following the date of the giving of such Recapture Notice; but, provided further, however, that if Subtenant notifies Sublandlord within three (3) business days after receipt of such Recapture Notice that it is withdrawing its request to sublet such portion of the Subleased Premises or to assign this Sublease, Landlord's Recapture Notice Exercise Notice. If Landlord shall elect to require Tenant to surrender the Demised Premises and accept a termination of this Lease, then this Lease shall expire on the Termination Date as if that date had been originally fixed as the expiration date. Landlord shall be of free to, and shall have no force and effectliability to Tenant if Landlord shall lease the Demised Premises to Tenant's prospective assignee or subtenant. If Sublandlord fails to timely In the event that Landlord shall exercise the Recapture Option in accordance with the provisions of the preceding sentenceas herein provided, Subtenant may thereafterTenant shall remit to Landlord, subject to the giving of Sublandlord's and the Prime within fifteen (15) days after Landlord's prior written consent demand therefor, (as herein provided for), proceed with the Proposed Transaction contemplated by the notice furnished to Sublandlord by Subtenant pursuant to the provisions of Paragraph 11(bi) hereinabove on the same terms and conditions as set forth in said notice, provided, however, that any such consent by Sublandlord shall be expressly conditioned upon Subtenant's compliance with the provisions of Paragraph 11(d) hereinbelow.a sum equal to