Recapture Rights Sample Clauses
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Recapture Rights. If a tenant "goes dark" for a set period of time defined in the lease, the landlord may be entitled to terminate the lease and recapture the premises. This right may require additional landlord notice and payment of a fee, and might be limited by its terms during the occurrence of a force majeure event. Exclusive Use: If a lease has granted the tenant the right to an "exclusive" for the use of a particular product or service, such right (and the corresponding restriction on the landlord from leasing to another tenant for any use in violation thereof) may be conditioned upon the tenant's continuous active operations in the space as well as the tenant not being in default under the terms of the lease. If a tenant fails to continuously operate, such failure may open a window of time during which the landlord may agree to lease to other tenants for an otherwise restricted use, or terminate the lease and recapture the space of the violating tenant so that the landlord can lease to another tenant for an increased rent. Although it's not likely that many new leases are being signed at this time, tenants and landlords should be well aware of these provisions and should be well versed in the lease terms under which an exclusive may be forfeited. Co- Tenancy Rights/Remedies: Certain leases may grant tenants the right to terminate the lease or reduce rent if the occupancy of a shopping center or retail development falls below a certain occupancy threshold. The rights of the tenant may include rent abatement, reduced hours or even the right to terminate. The impact the coronavirus may have on co-tenancy rights will depend on how the occupancy thresholds are defined and what protections the landlord may have in instances of force majeure events. Rights of Renewal, Expansion, First Offer, Termination: Many leases will condition additional tenant rights such as the right to exercise an option to extend the term, or the right to change the use of the space, on the condition that the tenant is open and operating and will continue to be open for a set period of time in all of (or some defined lesser part of) the premises, or not be in default under the lease. Operating Covenants and Failure to Open: Many retail leases contain a covenant requiring the tenant to continuously operate its business from the premises for the duration of the lease or for a minimum time period and during certain specific hours. This covenant may also require that, while open, the tenant must be ful...
Recapture Rights. PBGC retains whatever rights it has to recapture under ERISA § 4045 any amounts paid to Pension Plan participants (consistent with the terms of the Pension Plan) within the 3 year period prior to the relevant termination date.
Recapture Rights. Ceding Company shall not have any right to recapture the Reinsured Liabilities, provided, however, that Ceding Company shall have the right to recapture all but not less than all of the Reinsured Liabilities if a Security Event has occurred during the term of this Agreement and Reinsurer does not establish a Security Trust or post a Letter of Credit or other acceptable security within thirty (30) days following written request by Ceding Company. In no event may Ceding Company recapture anything other than one hundred percent (100%) of the Reinsured Liabilities that are eligible for recapture.
Recapture Rights. The parties acknowledge that ProLogis has succeeded to the interests of DP Industrial, LLC, in that certain Recapture Agreement recorded in the office of the ▇▇▇▇ County Recorder on August 25, 2005, as document number 0509165, and that the recapture amount for the Public Road Improvements (as described therein) will be calculated as follows: 50% of the contribution/payment of ProLogis for Road Improvements. NS shall have no liability under or obligation to pay, and the NS Parcel and any other real property acquired by NS within ProLogis Park shall not be charged, burdened or encumbered with, any liability or obligation for the payment of, any amount pursuant to the aforedescribed Recapture Agreement or like arrangement. Prior to the Closing, the City and NS shall enter into a recapture agreement in accordance with Illinois compiled statutes, 65 ILCS 5/9-5-1, for purposes of securing for NS the right to recapture: an appropriate portion of the NS Road Improvements Payment from and against the land south of ▇▇▇▇▇▇▇ Road between ▇▇▇▇▇▇▇ Road and the east line of a southward extension of ▇▇▇▇▇▇▇ Court (which is the benefiting property identified in the Recapture Agreement described above); and, an appropriate portion of the NS Rail Improvements Payment from and against the land southwesterly of the 50 foot gas pipeline easement (located southwesterly of and contiguous to the NS Parcel), north of ▇▇▇▇▇▇▇ Road and south of the Rail Improvements in the event of any connection to the Rail Improvements to service such land. With regard to any recapture of the NS Rail Improvements Payment only, credit shall be given to ProLogis for the fair market value for any land dedicated by ProLogis for the Rail Improvements. In no event shall the City or NS have any right to recapture the NS Road Improvements Payment or any payment by NS for Sanitary Sewer Improvements or Water Improvements against any land owned by ProLogis or any affiliate of ProLogis.
Recapture Rights. If at any time after the date on which a Participant has received payment, or becomes vested in the right to receive payment, of an Incentive Plan Award the Committee determines that the earlier determination as to the achievement of a 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 the Incentive Plan Award would not have been paid or have vested, given the correct data, then (i) any such portion of the Incentive Plan Award for which payment had been received by the Participant shall be paid by the Participant to the Company upon notice from the Company as provided by the Committee and (ii) such portion of the Incentive Plan Award that became vested shall be deemed to be not vested. Additionally, any Incentive Plan Awards granted under the Plan may be subject to reduction, cancellation, forfeiture or recoupment to the extent required by applicable law or listed company rules or to the extent otherwise provided at the time of grant or pursuant to policies (including, without limitation, any clawback or similar policies) that may be established by the Board, the Committee or any other committee of the Board from time to time.
Recapture Rights. 23 Section 12.11. ......................................................24
Recapture Rights. No Lease provision. Subordination / SNDA: ▇▇▇▇▇ is subordinate to all mortgages. Upon request T shall execute a Subordination, Non-disturbance and Attornment Agreement or such additional documents as LL or any Mortgagee may request to confirm such subordination. (Lease, 15.1) Tenant Estoppel Certificate (Days): 10 days (Lease, 15.2) Monetary Default (Cure Period): 7 days (Lease, 14.1) Non-Monetary Default (Cure Period): 20 days (Lease, 14.1) Landlord Notices: ABC, LLC Suite 100 Atlanta, GA 30315 Attn: ▇▇▇▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇▇ (Lease, Summary-1, 16.3) Tenant Notices: DEF, Inc. ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇. ▇▇▇▇▇▇▇▇, MS 39705 (Lease, Summary-2, 16.3) MISCELLANEOUS Tenant’s Liability Insurance: Comprehensive General Liability Insurance, written on an occurrence basis, to afford protection in such amount as LL may determine and in no event less than five million ($5,000,000.00) dollars combined single limit for personal and bodily injury and death arising therefrom and Broad Form property damage arising out of any one occurrence. (Lease, 11.2)
Recapture Rights. 3.1 In order for UBS to maintain the exclusive license granted in Section 2.1(a), UBS shall use commercially reasonable efforts to use and exploit the LifeScan Acquired Patents and LifeScan Acquired Know-How in the UBS Fields directly or through any of UBS’s Affiliates or sublicensees; provided, however, that UBS retains the discretion to determine the means and manner of its exploitation of LifeScan Acquired Patents and LifeScan Acquired Know-How. For purposes of this Article 3:
Recapture Rights. As required by RCW 28A.335.040(1), Landlord shall have the right, at any time during the Term, to terminate this Lease and recapture the Premises if Landlord’s Board of Directors determines that the Premises are then required for school purposes (the “Recapture”). In such event, Landlord shall give Tenant not less than twelve (12) months advance written notice of the date on which Landlord shall Recapture the Premises (the “Recapture Date”). On or before the Recapture Date and as a condition to consummation of the Recapture, Landlord shall pay a “Recapture Fee” (herein so called) to Tenant which shall be equal to the greater of:
Recapture Rights. The foregoing terms are intended to and shall be deemed to satisfy in full any recapture rights under the 2010 Plan that may exist with respect to the Executive based on the Restated Results with respect to the Company’s fiscal years ended December 31, 2014 and December 31, 2015.