Common use of Right of First Opportunity to Lease Additional Space Clause in Contracts

Right of First Opportunity to Lease Additional Space. Provided Tenant is not then in default after expiration of any applicable cure period under any of the terms and provisions of this Lease, Tenant shall have a "right of first opportunity" to lease any additional space that comes available in the Building during the term of this Lease. Landlord shall notify Tenant in writing of any such space becoming available after receiving notice from an existing tenant intending to vacate such space. Tenant shall respond to Landlord's notice of the right of first opportunity within fifteen (15) business days of the date of written notice from Landlord. The term of the lease of the additional space shall coincide with the remaining term of this Lease. The rent shall be the fair market value for the space as a gross lease for comparable space in similar buildings in the area of the building. Within fifteen (15) days of Tenant's response, Landlord and Tenant shall attempt to agree upon a mutually acceptable rent. If the parties are unable to agree on the new rent within that period, then within ten (10) days after expiration of that period each party, at its cost and by giving notice to the other party, shall appoint a real estate appraiser with at least five (5)-years' full-time commercial appraisal experience in (he area in which the Premises are located to appraise and set the new rent for the additional space. If a party does not appoint an appraiser with ten (10) days after the other party has given notice of the name of its appraiser, the single appraiser appointed shall be the sole appraiser and shall set the new rent for the additional space. If the two appraisers are appointed by the parties as stated in this paragraph, they shall meet promptly and attempt to set the new rent. If they are unable to agree within thirty (30) days

Right of First Opportunity to Lease Additional Space. Provided that the ---------------------------------------------------- Tenant duly and promptly complies with all of its obligations under the Lease and is not then in default after expiration of any applicable cure period under any breach of the terms and provisions of this Lease, Tenant shall have a "right and is itself occupying the whole of first opportunity" their leased premises, and subject to lease any additional space that comes available in the Building Landlord's commitment to other tenants under existing leases or offers, the Landlord agrees during the term first one and a half year of this Lease. Landlord shall the initial Term of the Lease to notify the Tenant in writing of any such space becoming available after receiving notice from an existing tenant intending to vacate such spacea third party's interest in leasing all or part of the 6th Floor of the Building. Tenant shall respond to The Landlord's notice will specify the space available to the Tenant on Floor 6 which shall not be less than approximately one half of such floor and may be up to the whole of the right of first opportunity within fifteen Floor 6 (15) business days of "the date of written notice from LandlordDesignated Space"). The term of the lease of the additional space shall coincide with the remaining term of this Lease. The rent shall be the fair market value for the space as a gross lease for comparable space in similar buildings in the area of the building. Within fifteen (15) days of Tenant's response, Landlord and Tenant shall attempt to agree upon a mutually acceptable rent. If the parties are unable to agree on the new rent within that period, then within will have ten (10) business days after expiration from the date of that period each partysuch notice to make an unconditional Offer for the Designated Space for a minimum Term of five (5) years at the same terms and condition as this Lease, at its cost save and by giving except for annual rent, and inducement if any, and renewal options, which will be as negotiated between the parties, and a further five (5) days to settle the rent, inducement and renewal term and to execute the Lease Agreement. The Term of the Lease of the Designated Space shall commence in sixty (60) days from the date of the Landlord's notice. If the Landlord and the Tenant do not agree to rent or inducement or renewal term, or if the Lease is not executed within such five-day period, there will be no agreement regarding the Designated Space and the Tenant will have no further right with respect to Floor 6. Notwithstanding the foregoing, if the third party is interested in leasing all of Floor 6 together with additional space in the Building, then the Landlord will not be obligated to give notice to the other partyTenant and the Tenant will not have a right to make an offer in respect of Floor 6. In that event, shall appoint a real estate appraiser with at least five (5)-years' full-time commercial appraisal experience in (he area in which or if the Premises are located to appraise and set the new rent for the additional space. If a party Tenant does not appoint so make an appraiser with ten (10) days Offer to lease the Designated Space upon the Landlord's notice, the Landlord shall thereafter have the right to lease all or any part of Floor 6 to any third party. The Tenant's right under this section are not transferrable or assignable, and will expire after the other party has given notice first one and a half year of the name of its appraiser, the single appraiser appointed shall be the sole appraiser and shall set the new rent for the additional space. If the two appraisers are appointed by the parties as stated in this paragraph, they shall meet promptly and attempt to set the new rent. If they are unable to agree within thirty (30) daysinitial Term.