Common use of Recapture Right Clause in Contracts

Recapture Right. Instead of giving or withholding consent pursuant to Section 13.1, Landlord may, within the 15 Business Day period provided in Section 13.1, elect by written notice to Tenant to recapture (that is, to terminate this Lease with respect to) the Premises or, if a proposed Transfer affects only a portion of the Premises, that portion of the Premises. If Landlord so exercises Landlord's recapture right, Tenant may negate such recapture by delivering written notice to Landlord, within five days of Tenant's receipt of Landlord's recapture notice, canceling the proposed Transfer and withdrawing Tenant's request for consent to the Transfer. If Landlord elects to recapture some or all of the Premises as set forth above, and Tenant does not so negate the recapture, then this Lease will terminate with respect thereto (pursuant to the provisions of this Lease, including without limitation Article 16) as of the date the Transfer would otherwise have occurred as if the Term therefor had expired on such date.

Recapture Right. Instead of giving or withholding consent pursuant to Section 13.1, Landlord may, within the 15 Business Day 30 day period provided in Section 13.1, elect by written notice to Tenant to recapture (that is, to terminate this Lease with respect to) the Premises or, if a proposed Transfer affects only a portion of the Premises, that portion of the Premises. If Landlord so exercises Landlord's ’s recapture right, Tenant may negate such recapture by delivering written notice to Landlord, within five days of Tenant's ’s receipt of Landlord's ’s recapture notice, canceling the proposed Transfer and withdrawing Tenant's ’s request for consent to the Transfer. If Landlord elects to recapture some or all of the Premises as set forth above, and Tenant does not so negate the recapture, then this Lease will terminate with respect thereto (pursuant to the provisions of this Lease, including without limitation Article 16) as of the date the Transfer would otherwise have occurred as if the Term therefor had expired on such date.

Recapture Right. Instead of giving or withholding consent pursuant to Section 13.1, Landlord may, within the 15 Business Day 30 day period provided in Section 13.1, elect by written notice to Tenant to recapture (that is, to terminate this Lease with respect to) the Premises or, if a proposed Transfer affects only a portion of the Premises, that portion of the Premises. If Landlord so exercises Landlord's ’s recapture right, Tenant may negate such recapture by delivering written notice to Landlord, within five (5) days of Tenant's ’s receipt of Landlord's ’s recapture notice, canceling the proposed Transfer and withdrawing Tenant's ’s request for consent to the Transfer. If Landlord elects to recapture some or all of the Premises as set forth above, and Tenant does not so negate the recapture, then this Lease will terminate with respect thereto (pursuant to the provisions of this Lease, including without limitation Article 16) as of the date the Transfer would otherwise have occurred as if the Term therefor had expired on such date.