Common use of Right of Second Offer Clause in Contracts

Right of Second Offer. Subject to the rights of Wood, ▇▇▇▇▇▇▇▇▇▇ and ▇▇▇▇▇▇▇, if LL intends to lease any space on the 4th floor which is contiguous to the premises ("Option Space") during the initial or renewal term, LL shall offer such space to Tenant in writing. Such offer shall specify Base Rent at which LL would be willing to lease such space to Tenant. Tenant must accept within 10 days business days. If Tenant does not accept, LL shall be free to lease such space to another party on whatever terms and conditions it considers appropriate. Correspondence in File: ----------------------- Letter from JMB dated 5/23/90, notifying Tenant of LL intention to lease a portion of the 4thfloor, containing 1,876 sq.ft. Base Rent of $22.50/sq.ft., on month-to-month basis, with 60 day termination notice. No response .from Tenant found in file. ▇▇▇▇▇▇▇ and ▇▇▇▇▇▇▇ (Suite 500) (3/l/92 - 2/28/021 --------------------------------------------------

Right of Second Offer. Subject to the rights of Wood, ▇▇▇▇▇▇▇▇▇▇ and ▇▇▇▇▇▇▇, if LL intends to lease any space on the 4th floor which is contiguous to the premises ("Option Space") during the initial or renewal term, LL shall offer such space to Tenant in writing. Such offer shall specify Base Rent at which LL would be willing to lease such space to Tenant. Tenant must accept within 10 days business days. If Tenant does not accept, LL shall be free to lease such space to another party on whatever terms and conditions it considers appropriate. Correspondence in File: ----------------------- Letter from JMB dated 5/23/90, notifying Tenant of LL intention to lease a portion of the 4thfloor, containing 1,876 sq.ftsq. fl. Base Rent of $22.50/sq.ftsq..ft., on month-to-month basis, with 60 day termination notice. No response .from from Tenant found in file. ▇▇▇▇▇▇▇ and ▇▇▇▇▇▇▇ (Suite 500) (3/l/92 - 2/28/021 2/28/02) --------------------------------------------------