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

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 even after Tenant’s due and timely exercise of the Right of First Refusal, if, after such exercise, but prior to the execution of said lease, (1) Tenant fails to pay to Landlord a monetary obligation of Tenant for a period of thirty (30) days after such obligation becomes due (without necessity of Landlord to give notice to Tenant), or (2) Tenant fails to commence to cure a default within thirty (30) days after the date Landlord gives notice to Tenant of such default. 41.5 The Right of First Refusal is continuing, in that if Tenant fails to exercise the Right of First Refusal with regard to any particular space, the Right of First Refusal shall nevertheless apply to that particular space if Landlord determines to lease all or any part of such space at any later time, and to any other space which Landlord determines to lease in the Building. 41.6 The Right of First Refusal shall not apply to space leased by a Tenant of the Project pursuant to an option or right of first refusal granted in a lease executed prior to this Lease.

Appears in 2 contracts

Sources: Lease (Biocept Inc), Lease (Biocept Inc)

Right of First Refusal to Lease Additional Space. 41.1 If Subject to the prior right of first refusal existing as of the date hereof and held by CovX Pharmaceuticals, if at any time during the term of this Lease Landlord determines to lease all or any part of the other balance of the space in on the Projectfirst floor of the Building, 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 the balance of the 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 the balance of the space on the first floor of the Building 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 balance of the space on the first floor in the Building within fifteen (15) days after receipt of Landlord’s Right of First Refusal Notice, or if if, as a result of Tenant’s unreasonable delay, 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 even after Tenant’s due and timely exercise of the Right of First Refusal, if, after such exercise, but prior to the execution of said lease, (1) Tenant fails to pay to Landlord a monetary obligation of Tenant for a period of thirty (30) days after such obligation becomes due (without necessity of Landlord to give notice to Tenant), or (2) Tenant fails to commence to cure a default within thirty (30) days after the date Landlord gives notice to Tenant of such default. 41.5 The Right of First Refusal is continuing, in that if Tenant fails to exercise the Right of First Refusal with regard to any particular space, the Right of First Refusal shall nevertheless apply to that particular space if Landlord determines to lease all or any part of such space at any later time, and to any other space which Landlord determines to lease in the Building. 41.6 The Right of First Refusal shall not apply to space leased by a Tenant of the Project pursuant to an option or right of first refusal granted in a lease executed prior to this Lease.

Appears in 1 contract

Sources: Lease Agreement (Salmedix Inc)

Right of First Refusal to Lease Additional Space. Tenant shall have a right of first refusal to lease additional space in the Building (“Right of First Refusal”) upon the following terms and conditions: 41.1 If Subject to the provisions of Section 41.5, if at any time during the initial or any extended term of this Lease Landlord determines to lease all or any part of the other space adjoining suite in the ProjectBuilding, consisting of approximately 2,689 square feet of Rentable Area (the “Expansion Space”), 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 spacethe Expansion Space. If Tenant, within fifteen ten (1510) business 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 noticeExpansion Space, Landlord shall lease the space Expansion Space to Tenant on the following economic terms and conditions stated in conditions: (a) if the noticeRight of First Refusal if exercised before December 31, 2009, then the Basic Annual Rent will be $16.00 per rentable square foot, as escalated pursuant to Section 6.1 hereof, or if the Right of First Refusal is exercised on January 1, 2010 or after, the Base Rent will be the then applicable rate payable under this Lease (as escalated annually), and (b) the lease term applicable to the Expansion Space will be co-terminus with the Term, and (c) no tenant improvement allowance or other incentives shall be payable with respect to the Expansion Space. 41.2 If Tenant does not agree in writing to lease all or any part of the space Expansion Space within fifteen ten (1510) business days after receipt of Landlord’s Right of First Refusal Notice, or if Landlord and Tenant have not entered into a lease agreement for the Expansion Space within thirty forty-five (3045) days thereafterafter delivery by Landlord to Tenant of a proposed lease incorporating the terms and conditions of the Right of First Refusal Notice and otherwise in substantially the same form as this Lease, Landlord shall have the right to lease the space Expansion Space to a third party on economic terms and conditions no more favorable than the economic terms and conditions stated in party, and, upon any such lease, the Right of First Refusal Notice. If Landlord does not lease shall terminate with respect to 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 applicablespace. 41.3 The Right of First Refusal herein granted is personal to Icagen, Inc., the original Tenant under this Lease, and its successor in interest permitted under Section 25.2 and may not be exercised by, or assigned or otherwise transferred, voluntarily or involuntarily, to, any other person or entity. In no event is not the Right of First Refusal assignable separate and or 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 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 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 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 the 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 even after Tenant’s due and timely exercise of the Right of First Refusal, if, after such exercise, but prior to the execution close of said leaseescrow for the sale, this Lease is terminated because (1) Tenant fails to pay to Landlord a monetary obligation of Tenant for a period of thirty sixty (3060) days after such obligation becomes due (without necessity of Landlord to give notice to Tenant), or (2) Tenant fails to commence to cure a non-monetary default within thirty (30) days after the date Landlord gives notice to Tenant of such default. 41.5 The Right of First Refusal is continuing, in that if Tenant fails to exercise Notwithstanding the Right of First Refusal with regard to any particular spaceforegoing, the Right of First Refusal shall nevertheless apply to that particular space if Landlord determines to lease all or any part of such space at any later time, be second and subordinate to any other space which Landlord determines to lease in the Building. 41.6 The Right right of First Refusal shall not apply to space leased first refusal held by a Tenant another entity as of the Project pursuant to an option or date of this Lease, including, without limitation, the right of first refusal granted in a lease executed prior to this LeaseSynecor, LLC, and Vector Research.

Appears in 1 contract

Sources: Lease (Icagen Inc)

Right of First Refusal to Lease Additional Space. 41.1 If If, at any time during the term Term of this Lease Lease, as it may be extended, Landlord determines shall solicit or receive a bona fide offer in writing ("Offer") from a third party to lease all or any part of the other balance of the space in the ProjectBuilding ("Expansion Space"), Landlord Tenant shall give have a right of first refusal ("Right of First Refusal") to lease the Expansion Space upon the same terms and conditions as set forth in the Offer. Landlord, promptly following Landlord's solicitation or receipt of the Offer, shall deliver 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 specifying the economic terms and conditions stated in the notice. 41.2 Offer. Tenant shall exercise its Right of First Refusal by providing Landlord with written notice of its exercise within five (5) business days after the date of receipt of Landlord's notice regarding the Offer. If Tenant does exercises its Right of First Refusal within the five (5) business-day period, Landlord and Tenant promptly shall execute an amendment to this Lease (or, at Landlord's election, a new Lease) for the Expansion Space, which includes the terms and conditions set forth in the Offer. If Tenant fails to provide Landlord with its written notice of exercise within the five (5) business-day period, then Tenant shall be deemed to have elected not agree in writing to exercise its Right of First Refusal with respect to the particular Offer at issue. Notwithstanding the foregoing, if Landlord negotiates with the proposed tenant lease all or any part of terms materially more favorable then those offered to Tenant but rejected, Landlord shall be required to submit the space within fifteen more favorable terms to Tenant for its review. Tenant shall have three (153) business days after receipt of Landlord’s the more favorable terms to accept or reject the Expansion Space. If Tenant rejects the more favorable terms, Landlord shall be free to enter into a lease with the proposed tenant. Tenant's Right of First Refusal Notice, or if shall be continuous during the Term and any extension thereof. Tenant's rejection of any particular Offer shall not relieve Landlord and of its obligation to again offer any Expansion Space to Tenant have not entered into a at any time that the Expansion Space subsequently becomes available. If Landlord fails to lease agreement any portion of the Expansion Space within thirty ninety (3090) days thereafterof delivering to Tenant an Offer for such Expansion Space, Landlord shall have the right again offer such Expansion Space 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 applicableTenant as set forth above. 41.3 41.2 The Right of First Refusal herein granted to Tenant is not assignable separate and apart from this Lease. 41.4 41.3 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 beyond all applicable notice and cure periods 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 unpaid beyond all applicable notice and unpaid without any necessity for notice thereof to Tenant cure periods 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 the Tenant’s '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 even after Tenant’s 's due and timely exercise of the Right of First Refusal, if, after such exercise, but prior to the execution of said lease, (1) Tenant fails to pay to Landlord a monetary obligation of Tenant for a period of thirty (30) days after such obligation becomes due (without necessity Landlord give Tenant notice of Landlord to give notice to Tenant)nonpayment, or (2) Tenant fails to commence to cure a default within thirty (30) days after the date Landlord gives Tenant notice to Tenant of such default. 41.5 41.4 The Right of First Refusal is continuing, in that if Tenant fails to exercise the Right of First Refusal with regard to any particular space, the Right of First Refusal shall nevertheless apply to that particular space if Landlord determines to lease all or any part of such space at any later time, and to any other available space in the building in which the Premises are located which Landlord determines to lease in the Buildinglease. 41.6 The Right of First Refusal shall not apply to space leased by a Tenant of the Project pursuant to an option or right of first refusal granted in a lease executed prior to this Lease.

Appears in 1 contract

Sources: Lease (Nastech Pharmaceutical Co Inc)

Right of First Refusal to Lease Additional Space. 41.1 If at Tenant shall have a right of first refusal to lease that certain additional 4,000 +/- rentable square feet of additional space ("Additional Space"), or any time portion thereof, in the location designated on Exhibit "A" attached hereto, now or as same becomes available. Whenever during the term of this Lease Landlord determines receives an offer to lease all rent the Additional Space, or any part of the other space in the Projectportion thereof, Landlord shall give Tenant written notice to Tenant (“Right of First Refusal Notice”) of the such offer, specifying all economic terms and conditions on which Landlord would be willing of such offer. Upon receipt of such notice from Landlord, Tenant may exercise its right to lease all such Additional Space, or any part portion thereof, on the same economic terms and conditions as in the officer (other than the term of such space. If Tenantthe Lease for the Additional Space), by giving written notice of its intent to exercise within fifteen fourteen (1514) days after receipt of Landlord’s Right of First Refusal Notice, agrees in writing 's notice. Tenant's failure to lease all or any part of give 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 notice shall be deemed a new determination by Landlord an election not to lease such Additional Space, or portion thereof. Any Additional Space leased by Tenant pursuant to this paragraph shall be leased for the space and balance of 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 term of this Lease and continuing until in effect at the default alleged in said notice time possession of the Additional Space is cured; (b) During the period of time commencing on the day after a monetary obligation delivered to Landlord is due from Tenant. Tenant and unpaid without any necessity for notice thereof to Tenant Landlord acknowledge that the Additional Space herein described 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 even after Tenant’s due and timely exercise of the Right of First Refusal, if, after such exercise, but prior to the execution of said lease, (1) Tenant fails to pay to Landlord a monetary obligation of Tenant for a period of thirty (30) days after such obligation becomes due (without necessity of Landlord to give notice to Tenant), or (2) Tenant fails to commence to cure a default within thirty (30) days after the date Landlord gives notice to Tenant of such default. 41.5 The Right of First Refusal is continuing, in that if Tenant fails to exercise the Right of First Refusal with regard to any particular space, the Right of First Refusal shall nevertheless apply to that particular additional space if Landlord determines to lease all or any part of such space at any later time, and to any other space which Landlord determines to lease described in the Building. 41.6 The Right of First Refusal shall not apply Expansion Option Set forth in this Rider to space leased by a Tenant of Lease are one and the Project pursuant to an option or same. This right of first refusal granted to Lease the Additional Space is in a lease executed prior addition to, no in lieu of, the Expansion Option set forth in this Rider to Lease. in no event shall Landlord enter into any lease(s) with regard to the Additional Space, or any portion thereof, which would in any manner abrogate Tenant's Expansion Option set forth in this Rider to Lease. With respect to the Additional Space, Tenant's obligation to pay rent for such space shall commence on the date all improvements to the Additional Space have been completed and possession has been delivered to tenant. INTERIOR PARTITIONS: Partitions shall extend from floor to ceiling grid and be constructed of 5/8" thick gypsum board over metal stud framing. Partition to be painted and include 2-1/2" vinyl covered base, colors to be selected from samples supplied by Landlord's Architect. DEMISING PARTITIONS; Partitions between Tenant Premises shall be identical to interior partition construction and shall include blanket sound insulation full height of wall and above ceiling 3' - 0" horizontally each side of partition.

Appears in 1 contract

Sources: Lease Agreement (Critical Home Care Inc)

Right of First Refusal to Lease Additional Space. 41.1 40.1 If at any time during the term of this Lease Landlord determines to lease all or any part of the other balance of the space in the ProjectBuilding One (approximately 10,080 square feet of Rentable Area), 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 the balance of the space. If Tenant, within fifteen (15) days after receipt of Landlord’s 's Right of First Refusal Notice, agrees in writing to lease all or any part of such the balance of the space in Building One 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 40.2 If Tenant does not agree in writing to lease all or any part of the balance of the space in Building One within fifteen (15) days after receipt of Landlord’s '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 even after Tenant’s due and timely exercise of the Right of First Refusal, if, after such exercise, but prior to the execution of said lease, (1) Tenant fails to pay to Landlord a monetary obligation of Tenant for a period of thirty (30) days after such obligation becomes due (without necessity of Landlord to give notice to Tenant), or (2) Tenant fails to commence to cure a default within thirty (30) days after the date Landlord gives notice to Tenant of such default. 41.5 The Right of First Refusal is continuing, in that if Tenant fails to exercise the Right of First Refusal with regard to any particular space, the Right of First Refusal shall nevertheless apply to that particular space if Landlord determines to lease all or any part of such space at any later time, and to any other space which Landlord determines to lease in the Building. 41.6 The Right of First Refusal shall not apply to space leased by a Tenant of the Project pursuant to an option or right of first refusal granted in a lease executed prior to this Lease.

Appears in 1 contract

Sources: Lease (Cytel Corp/De)

Right of First Refusal to Lease Additional Space. 41.1 If at any time (a) Subject to the terms and provisions of this paragraph, during the term Lease Term (including any extension period, as applicable), Tenant shall have a continuing right of this Lease Landlord determines first refusal to lease all or any part portion of any space within the other Building that may from time to time become available for direct lease. If Landlord receives a bona fide third party written proposal, letter of interest, proposed letter of intent or a written offer for the lease of any of such available space in the Projectthat is generally acceptable to Landlord, Landlord shall give written notice to notify Tenant of such fact (the Right of First Refusal Lease Proposal Notice”) ), which shall include the description of the economic space proposed to be leased, the material financial terms and material conditions of the proposal, and to the extent then available, a copy of the terms sheet, letter of interest, correspondence, or executed or unexecuted letter of intent or draft agreement reflecting such lease proposal. It is expressly agreed, however, that the foregoing right of first refusal shall not apply to the renewal or extension of any third party leases of space, and that the space covered by a then existing lease shall not be considered to be available for purposes hereof. Notwithstanding the foregoing, as to the space currently leased by the Texas Parks and Wildlife Department, it is agreed that if Landlord intends to submit a proposal to renew such lease beyond the term of its lease (and any renewal periods currently provided in such lease), Landlord shall submit to Tenant, at least sixty (60) days prior to the date Landlord intends to submit such proposal to the Texas Parks and Wildlife Department, a written proposal of the terms of such renewal, which shall be considered a Lease Proposal Notice for the purposes hereof. It is further agreed that if the Texas Parks and Wildlife Department submits a proposal to Landlord to renew and extend its lease beyond the term of its lease (and any renewal periods currently provided in such lease), such proposal shall be considered a Lease Proposal Notice for the purposes hereof. (b) Tenant shall have a period of ten (10) business days after the date the Lease Proposal Notice is given within which to notify Landlord in writing that Tenant elects to exercise the right granted hereby to lease the available space described in the Lease Proposal Notice at the same rental rate and upon the same terms and conditions on which Landlord would be willing to set forth in the Lease Proposal Notice; provided the term of the 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 shall expire 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 Expiration Date of this Lease. If Tenant does not agree in writing fails to so give Landlord timely notice exercising the right of first refusal granted hereby within the required period, Tenant shall be conclusively deemed to have refused to exercise its right of first refusal to lease all such space; provided, if such lease is not consummated or any part if such lease terminates prior to the termination or expiration of the space within fifteen (15) days after receipt of Landlord’s Right of First Refusal NoticeLease Term, or if Landlord and Tenant have not entered into a lease agreement within thirty (30) days thereafter, Landlord shall continue to have the right to lease such space as provided herein. In 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 event that Landlord does not lease such space (i) on the material economic terms provided in the Lease Proposal Notice, or (ii) on terms materially less economically favorable to the prospective proposed tenant within one hundred eighty (180) days after than those contained in the Right of First Refusal Lease Proposal Notice, Tenant shall again have the right of first refusal as to such space before it can be leased to any lease transaction thereafter other tenant (including the same prospective tenant) on terms materially more economically beneficial to such tenant and the above procedures shall again be deemed a new determination by Landlord applied. (c) If Tenant exercises its right to lease available space in the space and Building pursuant to the provisions of this Section paragraph 3, within twenty (20) days after Tenant delivers to Landlord notice of its election, Landlord and Tenant shall again be applicable. 41.3 The Right of First Refusal herein granted to Tenant is not assignable separate enter into a Lease in substantially the same form and apart from with substantially the same terms and provisions as contained in this Lease. 41.4 Tenant shall not have , except as modified by the right to exercise terms of the Right Lease Proposal Notice. Upon the expiration 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 Term of this Lease and continuing until (including any extension period, as applicable), or upon 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 Lease or the Right of First Refusal may be exercised shall not be extended or enlarged by reason termination 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 possession, the provisions of this Article 41 option to lease space within the Building granted hereby shall terminate and be of no further force or effect even after Tenant’s due and timely exercise of the Right of First Refusal, if, after such exercise, but prior to the execution of said lease, (1) Tenant fails to pay to effect. Landlord a monetary obligation of Tenant for a period of thirty (30) days after such obligation becomes due (without necessity of Landlord to give notice to Tenant), or (2) Tenant fails to commence to cure a default within thirty (30) days after the date Landlord gives notice to Tenant of such default. 41.5 The Right of First Refusal is continuing, in that if Tenant fails to exercise the Right of First Refusal with regard to any particular space, the Right of First Refusal shall nevertheless apply to that particular space if Landlord determines to lease all or any part of such space at any later timehas not heretofore granted, and to any other space which Landlord determines to lease in the Building. 41.6 The Right of First Refusal shall not apply to space leased by a Tenant of the Project pursuant to an option or grant any right of first refusal or option to any party after the Effective Date that takes precedence over the rights granted Tenant in a lease executed prior to this Lease.Exhibit C.

Appears in 1 contract

Sources: Lease Agreement (Pharmaceutical Product Development Inc)

Right of First Refusal to Lease Additional Space. 41.1 If Tenant shall have the right of first refusal to lease any additional space on the second and third floor of the Building ("Additional Space") that may become available for lease at any time during the term Term of this Lease Lease, as follows: If Landlord determines has Additional Space available and receives a bona fide offer to lease all or any part of the other space in the ProjectAdditional Space from a third party (an "Offer"), Landlord it shall give send written notice to Tenant Tenant. The notice shall (“Right of First Refusal Notice”i) identify the Additional Space and (li) set forth the terms of the economic terms and conditions on which Landlord would be willing to lease all or any part of such spaceOffer. If Tenant, within fifteen (15) Within 10 days after receipt of Landlord’s Right of First Refusal Notice's notice, agrees in writing to lease all or any part of such space Tenant shall reply by written notice either accepting the Additional Space on the terms and conditions stated set forth in the notice, Landlord Offer or rejecting the same. Failure to respond within the 10-day period shall lease constitute a rejection of the space to Additional Space. If Tenant accepts the Additional Space on the economic terms and conditions stated set forth in the notice. 41.2 initial offer, in the manner set forth above, the Additional Space shall be added to the Premises by an amendment to this Lease which shall include an adjustment of Tenant's proportionate share of Operating Expenses and such other changes as may be appropriate. If Tenant does not agree in writing to lease all or any part of accept 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 thereafterAdditional Space, Landlord shall have the right may lease that particular Additional Space 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 Noticeany other party, 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 even after Tenant’s due and timely exercise of the Right of First Refusal, if, after such exercise, but prior to the execution of said lease, (1) Tenant fails to pay to Landlord a monetary obligation of Tenant for a period of thirty (30) 360 days after such obligation becomes due (without necessity delivery of Landlord to give notice the offer to Tenant), or (2) Tenant fails on terms not substantially more favorable than those contained in the Offer, without being required to commence to cure a default within thirty (30) days after offer the date Landlord gives notice same to Tenant of such default. 41.5 The Right of First Refusal is continuing, in that if Tenant fails to exercise the Right of First Refusal with regard to any particular space, the Right of First Refusal shall nevertheless apply to that particular space if Landlord determines to lease all or any part of such space at any later time, and to any other space which Landlord determines to lease in the Building. 41.6 The Right of First Refusal shall not apply to space leased by a Tenant of the Project pursuant to an option or right of first refusal granted in a lease executed prior to this LeaseSection.

Appears in 1 contract

Sources: Lease (McDonald & Co Investments Inc)

Right of First Refusal to Lease Additional Space. 41.1 Provided that there is not an uncured Event of Default at the time of exercise, Tenant shall have the right of first refusal to lease any space in the Building that is adjacent to the Premises (the “Additional Space”) on the following terms and conditions. If at any time during the term Term of this Lease Lease, including any extension or renewal thereof, Landlord determines receives a bona fide offer to lease all or any part portion of the Additional Space on terms and conditions acceptable to Landlord, as evidenced by a letter of intent or other space in the Projectwritten offer, Landlord shall give written notice to notify Tenant in writing of the location and approximate rentable area of the space that is covered by such third-party offer (the “Available Space”) and the terms of such third-party offer (“Right of First Refusal Landlord’s Notice”). Tenant shall have five (5) 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) business days after receipt of Landlord’s Right of First Refusal Notice, agrees Notice to notify Landlord in writing of Tenant’s election to lease all or any part of such space the Available Space on the terms and conditions stated in Landlord’s Notice, which shall include an allowance equal to 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 greater of the space within fifteen (15) days after receipt of allowance specified in Landlord’s Right of First Refusal Notice, or $30,000, for tenant improvements to the Available Space (but only for the first of any Available Space leased by Tenant if less than the entire Additional Space is covered by Landlord’s Notice). If Tenant notifies Landlord in writing within such five-day period of Tenant’s election to lease the Available Space on the terms stated in Landlord’s Notice, Landlord and Tenant shall execute an amendment to this Lease adding the Available Space to the Premises and modifying the Monthly Rent and any other terms affected by the addition of the Available Space. If, however, Tenant fails to notify Landlord of Tenant’s election to lease the Available Space within such five-day period or, if Landlord and Tenant have not entered into a lease agreement within thirty (30) days thereafterTenant, Landlord shall have the right to lease the space to a third party on economic terms and conditions through 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 fault of Landlord, all rights of Tenant under the provisions of fail to execute an amendment to this Article 41 shall terminate and be of no further force or effect even after Tenant’s due and timely exercise of the Right of First Refusal, if, after such exercise, but prior to the execution of said lease, (1) Tenant fails to pay to Landlord a monetary obligation of Tenant for a period of thirty (30) days after such obligation becomes due (without necessity of Landlord to give notice to Tenant), or (2) Tenant fails to commence to cure a default Lease within thirty (30) days after the date Landlord gives of Tenant’s notice to Landlord, Tenant of such default. 41.5 The Right of First Refusal is continuing, in that if Tenant fails shall be deemed to exercise the Right of First Refusal with regard to any particular space, the Right of First Refusal shall nevertheless apply to that particular space if Landlord determines have waived its right to lease all or any part of the Available Space at such space at any later time, time and to any other space which Landlord determines shall have the right to lease the Available Space to the third party on substantially the same terms stated in the Building. 41.6 The Right of First Refusal shall not apply Landlord’s Notice without further notice to space leased by a Tenant of the Project pursuant to an option or Tenant. This right of first refusal granted in a to lease executed prior the Additional Space is personal to this LeaseTenant and may not be transferred or assigned to any third party.

Appears in 1 contract

Sources: Lease (Vocera Communications, Inc.)

Right of First Refusal to Lease Additional Space. 41.1 If at any time during During the term of this Lease Landlord determines the Lease, Tenant 11 have a right of first refusal ("Right of First Refusal") to lease all or any part the remaining rentable area within the Project as portions of it become available from time to time (each such portion being referred to herein as an "Additional Space"), on the other space in same terms and conditions of this Lease. If Landlord receives an offer to lease the ProjectAdditional Space from a third party which Landlord desires to accept, Landlord shall give written notice present the same, in writing, 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 shall thereafter have not entered into a lease agreement within thirty (30) business days thereafter, Landlord shall have the right in which to lease the space accept or reject that offer by notice 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 NoticeLandlord. 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 shall apply only with respect to the entire Additional Space subject of the third-party offer, and may not be exercised with respect to only a portion thereof. If Tenant rejects that offer or fails to accept the same in writing within that time, then Landlord shall be free to lease the Additional Space to the third party on substantially similar terms and conditions to those offered to Tenant is not assignable separate and apart from this Leasein the foregoing manner. 41.4 Tenant shall not have the right to exercise the i. Each Right of First RefusalRefusal shall, notwithstanding anything set forth above to the contrary: (a) During the time commencing from the date Landlord gives to Tenant a written notice that at Landlord's election, be null and void if Tenant is in default under any provision the Lease at the date Landlord would otherwise notify Tenant of this Lease and continuing until the default alleged in said notice is cured; (b) During offer concerning the period of time commencing on the day after Additional Space. After Tenant validly exercises 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 provided in this Lease, the parties shall not be extended execute an amendment to the Lease adding the Additional Space, or enlarged by reason a new lease for the Additional Space, or such other documentation as Landlord shall require, promptly after Landlord shall have prepared the same, confirming the leasing of such Additional Space to 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 even after Tenant’s due and timely An otherwise valid exercise of the Right of First Refusal, if, after Refusal contained in this Lease shall not be fully effective until such exercise, but prior to the execution of said lease, (1) Tenant fails to pay to Landlord a monetary obligation of Tenant for a period of thirty (30) days after such obligation becomes due (without necessity of Landlord to give notice to Tenant), or (2) Tenant fails to commence to cure a default within thirty (30) days after the date Landlord gives notice to Tenant of such defaultconfirmatory documentation is executed. 41.5 The ii. If Tenant shall exercise a Right of First Refusal is continuinggranted in this Lease, in Landlord does not guarantee that the Additional Space will be available on the commencement date for the Lease thereof if Tenant fails the then-existing occupants of the Additional Space shall hold over, or for any other reason beyond Landlord's reasonable control. In that event, Tenant's sole recourse shall be that the rent with respect to the Additional Space shall be abated until Landlord legally delivers the same to Tenant. Tenant's exercise the of that Right of First Refusal with regard shall not operate to cure any particular spacedefault by Tenant of any of the terms or provisions in the Lease, nor to extinguish or impair any rights or remedies of Landlord arising by virtue of such default. Each and all Rights of First Refusal are personal to Tenant and may not be exercised or enjoyed by any other Person. If the Lease or Tenant's right to possession of the Leased Premises shall terminate in any manner whatsoever before Tenant shall exercise a Right of First Refusal, immediately upon such termination, the Right of First Refusal shall nevertheless apply simultaneously terminate and become null and void. Under no circumstances whatsoever shall a subtenant under a sublease of the Leased Premises have an right to that particular space if Landlord determines to lease all or any part of such space at any later time, and to any other space which Landlord determines to lease in the Building. 41.6 The exercise a Right of First Refusal shall not apply to space leased by a Tenant of the Project pursuant to an option or right of first refusal granted in a lease executed prior to this Lease.

Appears in 1 contract

Sources: Commercial Lease Agreement (Savannah Bancorp Inc)

Right of First Refusal to Lease Additional Space. 41.1 If at any time during Beginning from the term commencement date of this Lease Landlord determines to lease all or any part Lease, such date being October 1, 1999, and provided Tenant is not in default under the terms of the other space in the Projectthis Lease, Landlord shall give written notice grants to Tenant (“a Right of First Refusal Notice”) of to lease additional space that comes available in the economic Building on the same terms and conditions on which of this Lease, as Amended under the First Amendment to Lease. In the event Landlord would be willing receives a bona fide offer to lease all or rent space in the Building to any part of such space. If parties other than the Tenant, within the Landlord shall give Tenant written notice of same. Tenant shall have fifteen (15) business days after following receipt of Landlord’s such notice to notify Landlord as to whether Tenant desires to lease said space. The leasing of said additional space shall be under the same terms and conditions as the Lease and, if Tenant does exercise a Right of First Refusal Notice, agrees in writing to lease all or additional space hereunder, the parties shall amend this Lease to incorporate the additional space and proportionately increase Tenant's Base Rent. This Right of First Refusal excludes any part of such space on the terms and conditions stated Renewal Options in an existing executed Lease with any other Tenant(s) in the noticeBuilding. This Right of First Refusal shall not, however, obligate Landlord to reserve or hold any space for Tenant. Landlord reserves the right to establish the minimum quantity and location of any additional space that may be added at any one time pursuant to this provision. In the event Tenant shall lease the space fail to Tenant on the economic terms and conditions stated in the notice. 41.2 If Tenant does not agree in writing give notice of its intent to lease all or any part of the said additional space within fifteen (15) days after receipt of Landlord’s Right of First Refusal Noticedays, 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 even after Tenant’s due and timely exercise of the Right of First Refusal, if, after such exercise, but prior to the execution of said lease, (1) Tenant fails to pay to Landlord a monetary obligation of Tenant for a period of thirty (30) days after such obligation becomes due (without necessity of Landlord to give notice to Tenant), or (2) Tenant fails to commence to cure a default within thirty (30) days after the date Landlord gives notice to Tenant of such default. 41.5 The Right of First Refusal is continuing, in that if Tenant fails to exercise the Right of First Refusal with regard to any particular space, the Right of First Refusal shall nevertheless apply to that particular space if Landlord determines to lease all or any part thereafter be and become null and void and of such space at any later time, no further force and to any other space which Landlord determines to lease in the Buildingeffect. 41.6 The Right of First Refusal shall not apply to space leased by a Tenant of the Project pursuant to an option or right of first refusal granted in a lease executed prior to this Lease.

Appears in 1 contract

Sources: Lease Agreement (Brown & Brown Inc)

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 space on the first floor of the other space in Building contiguous to the ProjectPremises (as the “Premises” may expand during the term of the Lease pursuant to this Section 41), 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 the balance of the space. If Tenant, within fifteen five (155) days after receipt of Landlord’s Right of First Refusal Notice, agrees in writing to lease all or any part (but no less than all) of such the space described in the notice 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 (but not less than all) of the space described in the notice on the terms and conditions stated in the notice within fifteen five (155) 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 subject and subordinate to similar rights previously granted to VoiceStream PCS Holding LLC (T-Mobile), and 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; or (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 the 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 even after Tenant’s due and timely exercise of the Right of First Refusal, if, after such exercise, but prior to the execution of said lease, (1) Tenant fails to pay to Landlord a monetary obligation of Tenant for a period of thirty (30) days after such obligation becomes due for a period of forty-five (without necessity of 45) days after Landlord to give gives notice to Tenant)Tenant of such default, or (2) Tenant fails to commence to cure a non-monetary default within thirty forty-five (3045) days after the date Landlord gives notice to Tenant of such default. 41.5 The Right of First Refusal is continuing, in that if Tenant fails to exercise the Right of First Refusal with regard to any particular space, the Right of First Refusal shall nevertheless apply to that particular space if Landlord determines to lease all or any part of such space at any later time, and to any other space which Landlord determines to lease in the Building. 41.6 The Right of First Refusal shall not apply to space leased by a Tenant of the Project pursuant to an option or right of first refusal granted in a lease executed prior to this Lease.

Appears in 1 contract

Sources: Lease (Acucela Inc)

Right of First Refusal to Lease Additional Space. 41.1 If at any time during Lessee is not in default under 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 date Lessee desired to exercise the its Right of First Refusal, notwithstanding anything set forth above to the contrary: (a) During the time commencing from the date Landlord gives to Tenant Lessee shall have 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 to lease all of Suite 320 consisting of 2,337 rentable square feet (Expansion Space). Lessor agrees to notify Lessee pursuant to the requirements of Article 28 of the Lease of Lessor's intention to offer the Expansion Space for lease. Lessee shall not be extended or enlarged by reason have three (3) days from its receipt of Tenant’s inability such notice to notify Lessor in writing of Lessee's intent to exercise the its Right of First Refusal because of the foregoing provisionsand to execute a mutually agreed upon Rider to this Lease to include Expansion Space. 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 even after Tenant’s due and timely If Lessee does not exercise of the its Right of First Refusal, if, after such exercise, but prior to the execution of said lease, (1) Tenant fails to pay to Landlord a monetary obligation of Tenant for a period of thirty (30) days after such obligation becomes due (without necessity of Landlord to give notice to Tenant), or (2) Tenant fails to commence to cure a default within thirty (30) days after the date Landlord gives notice to Tenant of such default. 41.5 The Right of First Refusal is continuing, in that if Tenant fails to exercise the Right of First Refusal with regard to any particular space, the this Right of First Refusal shall nevertheless apply terminate and Lessor may lease any portion or all of the Expansion Space to that particular space if Landlord determines any third party. If Lessee so elects to exercise its Right of First Refusal to lease all or any part of such space at any later timethe Expansion Space, the rent, terms, and conditions for leasing the Expansion Space, shall be based on the then current lease proposal for the Expansion Space in conjunction with prevailing rental rates for properties of equivalent quality, size, utility, and location, with the length of the Lease Term and credit standing of Lessee to any be taken into account, but in no event shall the rent be less than the rent set forth in Section 3 of this Lease and Section 35 of this Rider Number One for the Lease Term, otherwise subject to all the terms, covenants and conditions of this Lease. Within fifteen (15) business days from the date of Lessee's election to exercise its Right of First Refusal, Lessee shall execute plans and specifications and other space which Landlord determines documents as necessary showing the construction costs to lease in be paid by Lessee for the Building. 41.6 The Space, if any, otherwise Lessee's Right of First Refusal shall not apply terminate and Lessor may lease the Expansion Space to space leased by a Tenant any third party. 11 7000 BROADWAY BUILDING [FLOOR PLAN] McDE▇▇▇▇▇ ▇▇▇NNING & DESIGN EXHIBIT "A" Floor Plan ALLOS THERAPEUTICS THIRD FLOOR SPACE PLAN 12 EXHIBIT "B" RULES AND REGULATIONS 1. Signs, Directories No sign, advertisement or notice shall be inscribed, painted or affixed on any part of the Project pursuant inside or outside of the building, including windows, doors and corridors, unless of such color, size and style and in such place upon or in said building as shall be first designated by Lessor. There shall be no obligation or duty by Lessor to an option allow any sign, advertisement or right notice to be inscribed, painted or affixed on any part of first refusal granted the inside or outside of said building. Lessee shall not mark, ▇▇int, drill into, or in any way deface the walls ceiling, partitions, doors or floors of the building and shall not put therein any spikes, hooks, screws or nails, except by written consent of Lessor. Initial nameplate and suite number on doors will be provided by the Lessor. The cost of additional nameplates for doors shall be borne by Lessee. A building directory with the names of the tenants will be provided by the Lessor in the lobby. Any necessary revision in such directory will be made by Lessor within a lease executed prior to this Leasereasonable time after written notice from the Lessee of the change making the revision necessary, but Lessor shall not be responsible for any inconvenience or damage caused by Lessee as a result of any error in such a directory. Initial directory listings will be at the cost of Lessor. Changes or revisions in directory listing will be at the expense of Lessee. No showcase or any other fixture or objects whatsoever shall be placed in front of the building or in the court or corridor by Lessee, without written consent of Lessor.

Appears in 1 contract

Sources: Office Lease (Allos Therapeutics)