A provision in a percentage lease that gives the landlord the right to terminate the lease if a specified volume of sales is not reached.
A recapture provision in an office lease provides the lessor the right to recover any space that the tenant is unable to occupy or sublease.
a clause contained in leases, deeds, and other documents, which allow a landlord or owner the right to break the contract if specific standards, conditions, or contingencies outlined in the lease or document are not met.
in a contract, a clause permitting the party who grants an interest or right to take it back under certain conditions.
A clause in some percentage leases where the lessor has the right to terminate a lease if a tenant does not obtain a desired gross. (See percentage lease)
A clause allowing a landlord to terminate a tenant's lease in the event of a request for approval of an assignment or a sublease. The idea is for the landlord to maintain the exclusive right to all profits derived off of the leased premises. The recapture clause allows a landlord to determine whether rent under an assignment or sublease is more favorable than the rent being paid by the current tenant and then terminate the lease to capitalize on an increase in rent.
A clause in leases or deeds which gives the landlord the right to terminate if certain conditions or standards are not met. In a percentage lease, the landlord has the right to cancel if a specific minimum volume of business is not maintained. Also, a clause in Government outgrants which allows the Government to reacquire (recapture) the property if needed for national defense.
A clause usually found in percentage leases, especially in shopping center leases, giving the landlord the right to terminate the lease (and thus "recapture" the premises)if the tenant does not maintain a specified minimum amount of business.
Clause in a lease which would allow the landlord a percentage of the tenant's profits over the original fixed amount of rent or alternately, allowing the landlord to cancel the lease if the profits of the tenant fall below a specific level.
