Right of First Refusal to Lease Additional Space Clause Samples

The Right of First Refusal to Lease Additional Space clause grants a tenant the opportunity to lease extra space in a property before the landlord offers it to other potential tenants. When additional space becomes available, the landlord must first present the leasing terms to the current tenant, who then has a specified period to accept or decline the offer. This clause ensures the tenant has priority in expanding their premises, helping them secure needed space for growth while providing certainty and flexibility in their leasing arrangements.
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Right of First Refusal to Lease Additional Space. 41.1 If at any time during the term of this Lease Landlord determines to lease all or any part of the other space in the Project, Landlord shall give written notice to Tenant (“Right of First Refusal Notice”) of the economic terms and conditions on which Landlord would be willing to lease all or any part of such space. If Tenant, within fifteen (15) days after receipt of Landlord’s Right of First Refusal Notice, agrees in writing to lease all or any part of such space on the terms and conditions stated in the notice, Landlord shall lease the space to Tenant on the economic terms and conditions stated in the notice. 41.2 If Tenant does not agree in writing to lease all or any part of the space within fifteen (15) days after receipt of Landlord’s Right of First Refusal Notice, or if Landlord and Tenant have not entered into a lease agreement within thirty (30) days thereafter, Landlord shall have the right to lease the space to a third party on economic terms and conditions no more favorable than the economic terms and conditions stated in the Right of First Refusal Notice. If Landlord does not lease such space to the prospective tenant within one hundred eighty (180) days after the Right of First Refusal Notice, any lease transaction thereafter shall be deemed a new determination by Landlord to lease the space and the provisions of this Section shall again be applicable. 41.3 The Right of First Refusal herein granted to Tenant is not assignable separate and apart from this Lease. 41.4 Tenant shall not have the right to exercise the Right of First Refusal, notwithstanding anything set forth above to the contrary: (a) During the time commencing from the date Landlord gives to Tenant a written notice that Tenant is in default under any provision of this Lease and continuing until the default alleged in said notice is cured; (b) During the period of time commencing on the day after a monetary obligation to Landlord is due from Tenant and unpaid without any necessity for notice thereof to Tenant and continuing until the obligation is paid; or (c) After the expiration or earlier termination of this Lease. The period of time within which the Right of First Refusal may be exercised shall not be extended or enlarged by reason of Tenant’s inability to exercise the Right of First Refusal because of the foregoing provisions. At the election of Landlord, all rights of Tenant under the provisions of this Article 41 shall terminate and be of no further force or effect eve...
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Right of First Refusal to Lease Additional Space. Lessor grants to Lessee a fifteen (15) day right of first refusal to lease additional space in the buildings adjacent to the Premises owned by Lessor or its affiliates located in Venice, California. This right of first refusal to lease additional space is not applicable to any renewals or additional space taken by any existing tenants occupying space in said adjacent buildings.
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Right of First Refusal to Lease Additional Space. Pursuant to Section 33.2 of the Lease, Tenant has a continuing Right of First Refusal to lease all or any portion of any Building 3.
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Right of First Refusal to Lease Additional Space. On December 31, 1996 ------------------------------------------------- the provision titled "Right of First Refusal to Lease Additional Space" known as Exhibit "F" in the "Original "Lease" dated December 4, 1991 expired, but was reinstated in Paragraph 4 of the "First Amendment of Lease" dated February 17, 1997. This reinstated option expires February 28, 2002. By execution of this "Third Amendment of Lease" by Landlord and Tenant, this option as originally stated in Exhibit "F" of the "Original Lease" and then reinstated in Paragraph 4 of the "First Amendment of Lease," shall be deleted and replaced with the Right of First Refusal to Lease Additional Space as contained in the attached "Exhibit C" of this "Third Amendment of Lease".
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Right of First Refusal to Lease Additional Space. For the purposes of this Lease, the 14,600 square feet of additional floor space within the Warehouse located adjacent to the Leased Premises shall be referred to herein as the "ADJACENT Space". In the event, during the Term of this Lease, LESSOR shall receive a bona fide offer from a third party, acceptable to LESSOR (which may be in the form of a lease or letter of intent to be signed), to lease space within the Warehouse which includes the Adjacent Space (herein the "FIRST REFUSAL SPACE"), LESSOR shall submit a written notice thereof to LESSEE. Upon receipt of said notice, LESSEE shall have the right (the "RIGHT OF FIRST REFUSAL), exercisable at any time within ten (10) business days from and after the date of LESSEE'S receipt of such notice (herein the "EXERCISE PERIOD"), to lease the First Refusal Space upon the same terms and conditions offered by the third party; provided, however, (a) the term of the lease for the First Refusal Space shall be the same as the remaining term of this Lease; and (b) if the term of the offer to lease the First Refusal Space extends beyond the end of the then current term of this Lease and there remains an unexercised option to extend this Lease, LESSEE must exercise such option at the time it elects to exercise its right of first refusal. In order to exercise LESSEE'S Right of First Refusal, LESSEE must give LESSOR written notice thereof on or before the last day of the Exercise Period.
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Right of First Refusal to Lease Additional Space. Lessor and Lessee hereby desire to reaffirm Paragraph 55 of the Lease except that the definition of Vacant Space is hereby modified to be only that space contiguous to the Demised Premises on the third (3rd) floor. The rights to lease any Vacant Space remains specifically contingent on any prior rights of any other tenants prior to the date hereof.
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Right of First Refusal to Lease Additional Space. In the event Landlord receives a bona fide offer from a third party to lease additional space located on the Property (the "Lease Offer") which Lease Offer Landlord desires to accept, Landlord shall give Tenant written notice of the Lease Offer, including a description of the terms and conditions contained therein, and Tenant shall have the first right to lease the additional space upon the same terms and conditions as set forth in the Lease Offer. Tenant's election must be made by delivery of written notice to Landlord within three (3) business days after receipt of notice of the Lease Offer from Landlord, and upon such exercise, Landlord and Tenant shall have an additional ten (10) days in which to enter into a binding lease agreement upon the terms set forth in the Lease Offer and otherwise acceptable to Landlord and Tenant. In the event Tenant rejects the Lease Offer, fails to accept the Lease Offer within the three (3) day period, or the lease agreement is not entered into between Landlord and Tenant within the said ten (10) day period, Landlord shall have the right to lease the additional space pursuant to the Lease Offer, and upon such leasing, the Tenant's first right to lease offered additional space as provided herein shall expire.
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Right of First Refusal to Lease Additional Space 
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Right of First Refusal to Lease Additional Space. A. Lessor hereby grants to Lessee a right of first refusal (the "Right of First Refusal") to lease any space which becomes available in either of the buildings located at 75 and ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ (the "Adjacent Space"). If Lessor proposes to lease, or grant a right of possession in, the Adjacent Space, or any portion thereof, to a third party, Lessor may do so only after first offering to lease the Adjacent space, or such portion thereof as Lessor proposes to lease to the third party, (the "Offered Adjacent Space") to Lessee o the terms and conditions set forth in this paragraph.
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Related to Right of First Refusal to Lease Additional Space

  • Right of First Offer So long as (i) there then exists no Default of Tenant, (ii) the initially named Tenant pursuant to Section 1.1 hereof (and any successor of Tenant by merger or any other entity which controls, is controlled by or is under common control with the Tenant set forth in Section 1.1 above) shall occupy the entire Premises, and (iii) this Lease is still in full force and effect, then if Landlord shall desire to lease all or any space within the Building for a period commencing on or after the Commencement Date, Landlord shall so notify Tenant, and shall identify the space available (the "Offered Space") together with the rental rate and other terms and conditions (collectively, the "Terms") under which in good faith it intends to offer such space to third parties and the date on which such Offered Space is expected to be available. Tenant may irrevocable elect to lease the Offered Space on the Terms by giving notice thereof to Landlord within five (5) days after Tenant's receipt of notice from Landlord of the Terms. If Tenant shall have so elected to lease the Offered Space, it shall enter into an amendment to this Lease within ten (10) days after it shall have received the same from Landlord, confirming the lease of such Offered Space to Tenant on the Terms, Tenant acknowledging, however, that the term applicable to such Offered Space may not coincide with the term applicable to the Premises initially demised hereunder. If Tenant shall fail to give notice of its election to lease the Offered Space within the aforesaid 5-day period, then Tenant shall have no further rights under this Section and Landlord shall thereafter be free to lease any or all of such Offered Space or any other space in the Building to a third party or parties from time to time on such terms and conditions as it may deem appropriate, it being agreed that time is of the essence with respect to the exercise of Tenant's rights under this Section. For purposes of the first sentence of this Section, the term "lease" shall not include (a) the leasing of any space then leased to or occupied by, or the extension or renewal of a lease with, any then existing tenant or occupant, (b) the exercise of any expansion option, right of first offer, or right of first refusal by any tenant of the Industrial Center pursuant to a lease in effect prior to the date of this Lease, or (c) the lease of any space to any entity controlling, controlled by or under common control with, or otherwise affiliated with Landlord. The parties hereto have executed this Lease at the place and on the dates specified above their respective signatures. LANDLORD: TENANT: KEEP YOUR DAY JOB, LLC ▇▇▇▇▇▇▇▇▇▇▇.▇▇▇, a Delaware corporation a Delaware limited liability company Name: By: MANSFIELD LAND LLC Title: a Massachusetts limited liability company Its: Manager By: NDNE REALTY, INC. a Massachusetts corporation Its: Manager By:_____________________________ Name: Its: AMB PROPERTY, L.P. a Delaware limited partnership By: AMB PROPERTY CORPORATION a Maryland corporation By: ________________________ Name: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇ Its: Vice President Attention: ▇▇▇▇▇▇ ▇▇▇▇▇▇, CFO ▇▇-▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Needham, MA 02192 Telephone: ( ) Telephone: ( ) Facsimile: ( ) Facsimile: ( ) Executed at: Executed at: LANDLORD'S REMEDIES IN EVENT OF TENANT DEFAULT ADDENDUM This Remedies Addendum is part of the Lease dated ______________________ by and between KEEP YOUR DAY JOB LLC and ▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ for the premises known as ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇.

  • Right of First Refusal and Co-Sale Agreement Each Purchaser and the other stockholders of the Company named as parties thereto shall have executed and delivered the Right of First Refusal and Co-Sale Agreement.

  • First Right of Refusal If any Partner shall enter into an agreement to sell their ownership interest in the Partnership with an individual or entity that is not a current Partner, the following parties must be given a first right of refusal before such a transaction can take place:

  • 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.

  • 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.