Common use of RECAPTURE UPON DEFAULT Clause in Contracts

RECAPTURE UPON DEFAULT. To induce Tenant to execute this Lease, Landlord has provided Tenant with Rent concessions consisting of free rent (“Free Rent”) and a Tenant Improvement Allowance for the benefit of Tenant (“Costs”). Upon any event of default, all Free Rent shall become immediately due and payable. In addition, Tenant shall also pay Landlord the unamortized portion of the Costs from the date of default through the end of this Lease term as determined by Landlord based upon Landlord’s actual costs incurred, including all direct and indirect hard costs, soft costs and brokerage commissions without limitation, associated with the construction of the improvements for the Leased Premises and the leasing of same to Tenant.