Examples of Recapture Right in a sentence
Lease, §§ 13.2-13.4. Under the Recapture1 Provision, if the tenant under the Lease requests TMC's consent to assign or transfer the2 tenant's interest under the Lease, TMC, "in the exercise of its sole and absolute3 discretion," has the option (the "Recapture Right") to terminate the Lease and recapture4 the Premises.
If Landlord does not exercise Landlord’s Recapture Right and Tenant fails, within one hundred twenty (120) days after the delivery of Tenant’s notice, to execute and deliver to Landlord such assignment or sublease then Tenant shall again comply with all of the provisions of this Article VIII before assigning this Lease or subletting all or part of the Premises.
Tenant shall have the right to retract Tenant's Section 11.3 Notice, or Recapture Right Notice upon written notification given to Landlord within five (5) business days of the date of Landlord's notice to Tenant electing to terminate the Lease.
Recapture Right - Completely negate or provide a process to pull back from a recapture clause.
Notwithstanding anything to the contrary herein, in the event Sublandlord exercises the Recapture Right, all Sublandlord FF&E which is located in the Recapture Space as of the Commencement Date shall be retained by Sublandlord and shall not be sold to Subtenant as part of the sale described in Section 1.2 above.
After exercise of the Recapture Right, the parking spaces in the Action Parking Area shall be governed by Article 7 and the rights of Landlord under Article 7 and, in any event, Tenant's rights in the Parking Spaces, shall, unless Landlord otherwise elects, be non-exclusive and subject to limitation as to the number of paces available to Tenant as provided in Article 7.
Notwithstanding anything to the contrary contained herein, neither the Recapture Right nor Tenant’s obligation to share excess consideration with Landlord pursuant to the terms of Section 17.08 hereof shall apply to Transfers pursuant to Section 17.09 and Section 17.10.
In fact, people involved in this industry should face more scrutiny because they are sailing very close to the law.If the people of Queensland are forced by this government to live with licensed brothels in their communities, then they have the right to know who is running them, and the Prostitution Licensing Authority should not be able to use secrecy provisions, including section 137 of the Prostitution Act 1999, in order to hide the identity of the administrators of the brothel.
If Sublandlord exercises the Recapture Right, Sublandlord shall be solely responsible for all costs in connection therewith, including but not limited to design, permits, approvals and construction costs in connection with demising the Recapture Space to code, including the construction of any necessary corridors, lobbies and vestibules, etc.
If Landlord fails to exercise the Recapture Right within the required timeframe, the Lease shall not terminate with respect to the Recapture Space and Tenant shall be free to proceed with the proposed transaction, subject to the restrictions and requirements otherwise set forth in Paragraph 8(a), above.