Exercise of First Right to Lease Sample Clauses

Exercise of First Right to Lease. Provided that no Event of Default, or condition as to which Tenant has received notice which, with the passage of time would constitute an Event of Default (unless Tenant commences to cure such condition prior to the occurrence of an Event of Default as a result thereof and thereafter continuously and diligently pursues such cure to completion) then exists and that Tenant and/or any Tenant Affiliates occupy not less than seventy-five percent (75%) of the Net Rentable Area included in the Leased Premises on the date of Tenant's First Lease Notice, and not greater than eighty-five percent (85%) of the total Net Rentable Area of the Office Section of the Building, Landlord shall offer any space that becomes Available Space on floor(s) eleven (11) through twenty-two (22) to Tenant for such rent and upon such other terms as Landlord proposes to offer such Available Space to third parties and otherwise substantially upon the terms and conditions set forth herein. In addition to any obligation of Landlord to inform Tenant of Available Space set forth below, Landlord agrees to use reasonable efforts to periodically advise Tenant of space in the Building which is scheduled to become Available Space. Tenant's first right to lease shall be exercised as follows: (a) Not later than sixty (60) days prior to the expiration of the term then applicable to such Available Space (except in cases where the term expires by reason of default or other causes which cannot reasonably be foreseen by Landlord, in which case Landlord shall give reasonable notice), Landlord shall give notice to Tenant of the expected availability of such Available Space together with a summary of the financial terms and other key provisions (to the extent different from the terms of this Lease) on which Landlord proposes to offer such Available Space to third parties for lease. (b) At any time within fifteen (15) days after Landlord gives the notice described in subsection (a), Tenant may, by notice to Landlord ("Tenant's First Lease Notice"), elect to (i) lease the Available Space described in Landlord's summary for the consideration and upon the business terms set forth in Landlord's summary, or (ii) lease the Available Space described in Landlord's summary for Fair Market Net Rent and upon such other of the business terms set forth in Landlord's summary as are consistent therewith, such Fair Market Net Rent to be as agreed upon by Landlord and Tenant within thirty (30) days of Tenant's First Lease N...
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Related to Exercise of First Right to Lease

  • Exercise of Right of First Refusal At any time within thirty (30) days after receipt of the Notice, the Company and/or its assignee(s) may, by giving written notice to the Holder, elect to purchase all, but not less than all, of the Shares proposed to be transferred to any one or more of the Proposed Transferees, at the purchase price determined in accordance with subsection (c) below.

  • Grant of Right of First Refusal Except as provided in Section 12.7 below, in the event the Optionee, the Optionee's legal representative, or other holder of shares acquired upon exercise of the Option proposes to sell, exchange, transfer, pledge, or otherwise dispose of any Vested Shares (the "TRANSFER SHARES") to any person or entity, including, without limitation, any shareholder of the Participating Company Group, the Company shall have the right to repurchase the Transfer Shares under the terms and subject to the conditions set forth in this Section 12 (the "RIGHT OF FIRST REFUSAL").

  • Termination of Right of First Refusal The Right of First Refusal shall terminate as to any Shares upon the earlier of (i) the first sale of Common Stock of the Company to the general public, or (ii) a Change in Control in which the successor corporation has equity securities that are publicly traded.

  • Waiver of Right of First Refusal The Company hereby waives any preexisting rights of first refusal applicable to the transactions contemplated hereby.

  • Assignment of Right of First Refusal The Company shall have the right to assign the Right of First Refusal at any time, whether or not there has been an attempted transfer, to one or more persons as may be selected by the Company.