Right of First Refusal To Purchase Or Lease Sample Clauses

The Right of First Refusal to Purchase or Lease clause grants a party the opportunity to match any offer received by the property owner before the owner can sell or lease the property to a third party. In practice, if the owner receives a bona fide offer from another potential buyer or tenant, they must first present the terms of that offer to the holder of the right, who then has a specified period to decide whether to accept those terms. This clause ensures that the holder has a priority opportunity to acquire or lease the property, thereby protecting their interests and preventing the property from being transferred to another party without their input.
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Right of First Refusal To Purchase Or Lease. 19.01 During the Lease Term, Tenant, its successors and assigns, shall have the right and option of first refusal to purchase or lease the Premises (herein called the Right of First Refusal), all upon and subject to the terms and provisions of this Article. 19.02 Before selling or leasing, directly or indirectly, the whole or any part of the Premises, including any beneficial interest in the Premises, Landlord, its successors and assigns, shall have given notice to Tenant of such proposed sale or lease, together with a true, correct, and complete copy of a contract of sale or purchase agreement or lease, duly executed by the proposed vendee or lessee and by Landlord, as vendor, or lessor containing all other terms and provisions of the proposed sale or lease. Tenant shall have a period of 60 days (after receipt of such notice and such contract of sale, purchase agreement or lease) to purchase or lease the Premises, or the part thereof which is the subject of such contract of sale or purchase agreement or lessee at the same price or rental and upon and subject to the terms and provisions as are contained in such contract of sale or purchase agreement or lease. Tenant may exercise the Right of First Refusal, Landlord may consummate such sale or lease in accordance with the terms and provisions of such contract of sale or purchase agreement or lease. Such sale or lease shall be subject to the Right of First Refusal, which shall continue to be applicable to the Premises until the expiration or termination of this Lease as provided herein. 19.03 For the purposes of this Article, if Landlord is a corporation or a partnership, a sale shall include a transfer, assignment, pledge or other disposition of (a) all or substantially all the assets of Landlord, or (b) the transfer of a majority of the outstanding voting stock or other ownership interest of Landlord.
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Right of First Refusal To Purchase Or Lease. If during the term of this lease. or any extension thereof, Lessor receives a bona fide offer from a third party to (buy) (sell) the leased premises (or to lease the same for a period after the expiration of this lease) which offer Lessor shall desire to accept, Lessor shall immediately notify Lessee giving Lessee all of the terms and conditions of such offer. including price (or rental) and Lessee shall I have the right and option for sixty (60) days after receipt of such notice to elect to buy the leased premises (or lease it) for the same consideration and on the same terms and conditions as contained in such offer. Said option shall be exercisable by Lessee's giving notice to Lessor thereof within such sixty (60) day period and if said option is not exercised by Lessee within such period. Lessor shall have the right to sell (or lease) the said premises to such third party. but only at the price (or rental) and on the terms and conditions contained in said offer and in any case subject to this lease which shall remain in full force and effect. No sale, transfer (or lease i oi said leased premises shall be valid unless and until the foregoing requirements arc fully complied with. The term "leased premises" as used in the foregoing "first refusal" option includes all or any portion of the leased premises and land of which the leased premises is a part. Said option shall run with the land, and failure of Lessee to exercise said option in any one case shall not affect Lessee's right to exercise said option in any cases thereafter arising. Approval of Lessor /s/ GTRC. Approval of Lessee /s/ BB
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Right of First Refusal To Purchase Or Lease. 8 20 Miscellaneous 9 21 Term Sheet; Integration of Documents, Execution 9 LEASE AGREEMENT TERM SHEET
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Related to Right of First Refusal To Purchase Or Lease

  • Right of First Refusal (a) Whenever and as often as the WAT Trustee or its successors or assigns (each, a "Seller") shall desire to sell all or any of the Warrants granted to the WAT Trustee pursuant to the Subscription Agreement and Plan of Reorganization Relating to CenterMark Properties, Inc., dated as of May 13, 1996, and in connection with the Public Offering (together, the "Company Warrants"), pursuant to a bona fide offer for the purchase thereof, the Seller shall give notice (the "Notice") to WHL (the "Offeree") in writing to such effect, enclosing a copy of such bona fide offer (it being agreed that the Seller shall cause any such offer to be reduced to writing) and specifying the portion of the Company Warrants which the Seller desires to sell (the "Seller's Warrant"), the name of the person or persons to whom the Seller desires to make such sale and the dollar value of the consideration which has been offered in connection therewith. Upon receipt of the Notice, the Offeree initially shall have the first right and option to purchase up to all of the Seller's Warrant, for cash at a purchase price equal to the dollar value of such consideration, exercisable for a period of 30 days from the date of receipt of the Notice (the "Expiration Date"). Failure of the Offeree to respond to the Notice within the 30-day period shall be deemed to constitute a notification to the Seller of the Offeree's decision not to exercise the first right and option to purchase the Seller's Warrant under this Section 3. (b) The Offeree may exercise the right and option provided in this Section 3 by giving written notice to the Seller not later than the close of business on the date of expiration of such right and option (or if such date is not a business day, then on or before the close of business on the next succeeding business day), advising of the election to exercise the same and the date (not later than 30 days from the date of such notice) upon which payment of the purchase price for the Seller's Warrant shall be made. The Seller shall cause to be delivered to the Offeree notice, on the payment date specified in such notice, the certificate or certificates representing the Seller's Warrant being purchased by the Offeree, properly endorsed for transfer, against payment of the purchase price therefor. (c) If all the Seller's Warrant is not purchased by the Offeree in accordance with this Section, the Seller (i) shall not be required to sell any of the Seller's Warrant to the Offeree and (ii) may, during the 90-day period commencing on the expiration of the rights and options provided for in this Section, sell all (but not less than all) of the Seller's Warrant to the transferee named in the Notice for a consideration the dollar value of which is equal to or greater than the dollar value of the consideration specified in the Notice, subject in each case to the restrictions contained in this Section 3 of this Agreement. (d) WHL may designate or assign its rights to purchase the Company Warrants pursuant to this Section 3 to any person or entity with the prior written consent of the Seller, such consent not be unreasonably withheld or delayed.

  • 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 ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇.

  • 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").

  • 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.

  • 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.