Common use of Exercise of Right of First Offer Clause in Contracts

Exercise of Right of First Offer. If during the Term of this Lease, Landlord desires to lease the Additional Premises to a third party tenant that is not an affiliate of Landlord, Landlord shall so notify Tenant in writing (“Notice”). If Tenant desires to lease the Additional Premises, Tenant shall so notify Landlord in writing within ten (10) days following Tenant’s receipt of the Notice. In such event, without further action of Landlord or Tenant, Landlord shall be deemed to have agreed to lease the Additional Premises to Tenant, and Tenant shall be deemed to have agreed to lease the Additional Premises from Landlord, for the Rent and upon the terms and conditions set forth in the Lease. If Tenant does not so agree to lease the Additional Premises within said ten day period, at any time thereafter Landlord shall be free to lease the Additional Premises free and clear of Tenant’s rights under this Rider, provided that if Landlord shall not lease the Additional Premises within one year following the date of the Notice without, in such case, sending a new Notice to Tenant, in which event Tenant shall have a further period of ten days following Tenant’s receipt of the new Notice to lease the Additional Premises.

Exercise of Right of First Offer. If during the Term of this Lease, Landlord desires to lease the Additional Premises to a third party tenant that is not an affiliate of Landlord, and Landlord receives a proposal to lease from such party, setting forth the terms and conditions of such lease, then Landlord shall so notify Tenant in writing (“Notice”)) setting forth the material terms of such proposal. If Tenant desires to lease the Additional PremisesPremises on the same terms and conditions as said prospective Tenant, then Tenant shall so notify Landlord in writing within ten five (105) days following Tenant’s receipt of the Notice. In such event, without further action of Landlord or Tenant, Landlord shall be deemed to have agreed to lease the Additional Premises to Tenant, and Tenant shall be deemed to have agreed to lease the Additional Premises from Landlord, for the Rent and upon the terms and conditions set forth in the LeaseLandlord’s Notice. If Tenant does not so agree to lease the Additional Premises within said ten five (5) day period, at any time thereafter Landlord shall be free to lease the Additional Premises to said prospective Tenant free and clear of Tenant’s rights under this Rider, provided that if Landlord shall not lease the Additional Premises within one year following to said prospective Tenant on the date of the Notice without, in such case, sending a new Notice terms and conditions presented to Tenant, in which event then Tenant shall have a further period the same right of ten days following Tenant’s receipt of first refusal to lease the new Additional Premises on the same terms and conditions and upon Notice with respect to any other offer to lease the Additional Premises.