Common use of Recapture Right Clause in Contracts

Recapture Right. In the event of any proposed subletting or assignment (other than as permitted in subparagraph 11(a) (iii) above), Landlord shall have the option, in Landlord’s sole and absolute discretion, to terminate this Lease, or in the case of a proposed subletting of less than the entire Premises (other than as permitted in subparagraph 11(a) (iii) above), 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 by Landlord giving Tenant written notice within thirty (30) days following L▇▇▇▇▇▇▇’s receipt of Tenant’s written notice as required above. If this Lease shall be terminated with respect to the entire Premises, the Lease 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 originally fixed in this Lease for the expiration of the Lease Term. If Landlord recaptures only a portion of the Premises, the Base Rent during the unexpired Lease Term shall a▇▇▇▇ proportionately based on the Base Rent due as of the date immediately prior to such recapture and Tenant’s Pro Rata Share shall be adjusted appropriately.