Tenant Election Sample Clauses

The Tenant Election clause grants the tenant the right to make specific choices or decisions under the lease agreement, typically regarding options such as renewing the lease, expanding the premises, or exercising break rights. In practice, this clause outlines the procedures and deadlines the tenant must follow to notify the landlord of their decision, often requiring written notice within a set timeframe. Its core function is to provide the tenant with flexibility and control over certain aspects of the tenancy, ensuring that their interests and future plans can be accommodated within the lease structure.
Tenant Election. Tenant will have fifteen (15) Business Days from the date of its receipt of the ROFR Asset Offer (the “ROFR Asset Election Period”) to elect to acquire the Leased Property pursuant to the purchase contract included in the Third Party Asset Offer. If Tenant desires to acquire the Leased Property pursuant to such terms, then prior to the end of the ROFR Asset Election Period, Tenant must deliver a notice of acceptance (the “ROFR Asset Acceptance Notice”) to Landlord. If Tenant rejects the Third Party Asset Offer or does not timely accept such offer, then Landlord may proceed to close on the Third Party Asset Offer with the proposed buyer in accordance with the substantially unmodified terms of the Third Party Asset Offer only if such Transfer is completed prior to the later to occur of (i) sixty (60) days after the last day of the ROFR Asset Election Period and (ii) the date on which all regulatory approvals required to consummate such Transfer have been obtained (such dates in subsections (i) and (ii), as applicable, the “ROFR Asset Transfer Deadline”). If the terms of such Transfer are modified pursuant to a Material Amendment or such Transfer is not completed by the ROFR Asset Transfer Deadline, then Tenant shall again have the opportunity to be the buyer under any Third Party Asset Offer, and Landlord must send Tenant a new ROFR Asset Sale Notice and comply again with this Section 25.3 upon receipt of any Third Party Asset Offer. At no time during the Term (i) may Landlord elect to Transfer all or any portion of the Landlord Interests or any interest therein except pursuant to a Permitted Sale, whether or not Tenant has elected or rejected the ROFR Asset Offer, nor (ii) may any direct or indirect owner of any Landlord Equity Interest (which direct or indirect ownership interest in Landlord’s Equity Interest constitutes such owner’s sole material asset) Transfer such direct or indirect ownership interest if the result of such Transfer would be that the Landlord Majority Owner would be a different Person, (unless, with respect to such proposed Transfer, Tenant is afforded a right of first refusal substantially consistent with the right of first refusal in favor of Tenant under this Section 25.3 with respect to proposed Transfers of the Leased Property), and in either case, any such Transfer by Landlord in violation of this Section 25.3 or Section 17.5 shall be void ab initio. This restriction on Transfer and Tenant’s right of first refusal under this Secti...
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Tenant Election. On or before November 19, 2001, Tenant shall furnish Landlord with Tenant's alternative male/female bathroom configuration.
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Tenant Election. On or before July 1, 2015, and subject to Landlord and Tenant entering into an amendment to this Lease including a new Work Letter (the “Lease Amendment”) in form and content reasonably acceptable to both parties, Tenant may elect by written notice to Landlord to have Landlord perform the construction of the Tenant Improvements in the Initial Premises as a Landlord build project (as opposed to the Tenant build project contemplated by this Work Letter) pursuant to plans and specifications approved by Tenant and Landlord. The Lease Amendment shall include, among other things, the following general business terms: (i) Landlord shall deliver the Initial Premises to Tenant with the Tenant Improvements substantially complete by February 1, 2017 (as such date may be extended by Force Majeure, Tenant Delays and any extensions of any Milestone Date), (ii) Tenant shall be entitled to two free days of Base Rent for each day of delay by Landlord in timely delivering the Initial Premises with the Tenant Improvements substantially complete, (iii) if Landlord’s late delivery of the Initial Premises causes Tenant to holdover under Tenant’s Existing Lease or Tenant is required to secure temporary offices as contemplated in Section 2, then Landlord shall pay the Holdover Premium and/or any Substitution Lease Cost, as applicable, (iii) Landlord shall be entitled to an administrative fee out of the TI Allowance for managing the design and construction of the Tenant Improvements equal to 3% of the cost of the Tenant Improvements, (iv) appropriate progress milestones and dates shall be established by Landlord for the design, review and approval by Landlord and Tenant of space plans and construction drawings and the budget for the Tenant Improvements in order that the Tenant Improvements can be constructed in an orderly fashion by February 1, 2017, (v) Landlord shall require the general contractor for the Tenant Improvements to construct the Tenant Improvements in compliance with the building permit for the Tenant Improvements and applicable legal requirements, (vi) Tenant shall not be expected to pay for Excess TI Costs unless Landlord advises Tenant of the excess amount required to be paid by Tenant prior to, at Landlord’s option, acceptance of a mutually acceptable contractor bid or acceptance of a guaranteed maximum price contract that the design and construction of the Tenant Improvements for the Initial Premises will exceed the TI Allowance; provided, however, that Tenant ...
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Tenant Election. Tenant shall have thirty (30) days, time being of the essence, following Landlord’s giving of the Offer Space Notice to deliver to Landlord notice (the “Election to Lease Notice”) of Tenant’s desire to exercise its right under this Article 42 (the “Right of First Offer”) to lease from Landlord all (and not less than all) of the Offer Space. The failure or refusal of Tenant for any reason whatsoever to deliver to Landlord the Election to Lease Notice in the time and manner herein prescribed (any Offer Space being the subject of an Offer Space Notice which is not so leased by Tenant pursuant to an Election to Lease notice being herein referred to as “Rejected ROFO Space”), shall, subject to Section 42.09 below, be deemed an irrevocable waiver of Tenant’s Right of First Offer with respect to the Rejected ROFO Space as to the particular transaction, whereupon Tenant’s Right of First Offer with respect to such Rejected ROFO Space shall lapse and be of no further force or effect.
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Related to Tenant Election

  • Landlord’s Election If Tenant desires to assign its interest under the Lease or to sublet all or part of the Leased Premises (a “Proposed Transfer”), Tenant must first notify Landlord, in writing, of such Proposed Transfer, at least fifteen (15) business days in advance of the date it intends to close the Proposed Transfer, specifying (a) the size of the space to be so transferred, (b) the duration of the term of such Proposed Transfer and (c) the terms of the Proposed Transfer, including the name of the proposed assignee or sublessee, the proposed assignee’s or sublessee’s intended use of the Leased Premises, current financial statements (including a balance sheet, income statement and statement of cash flow, all prepared in accordance with generally accepted accounting principles) of such proposed assignee or sublessee, the form of documents to be used in effectuating such assignment or subletting and such other information as Landlord may reasonably request. Landlord shall have a period of fifteen (15) business days following receipt of such notice and the required information to consent or decline to consent to the Proposed Transfer. If Landlord does not respond within such fifteen (15) business day period, Landlord shall be deemed to have approved the Proposed Transfer. If Landlord declines to consent to the Proposed Transfer, Landlord shall notify Tenant in writing, specifying the reasons under this Lease that such refusal is justified. During such fifteen (15) business day period, Tenant covenants and agrees to supply to Landlord, promptly upon request, all necessary or relevant information which Landlord may reasonably request respecting such proposed assignment or subletting and/or the proposed assignee or sublessee.

  • LEASE ALTERATIONS The Owner hereby gives power to the Agent to initiate, sign, renew, modify, or cancel rental agreements and leases for the Property, or any part thereof and collect and give receipts for rents, other fees, charges, and security deposits.

  • Landlord’s Consent to Alterations Tenant may not make any improvements, alterations, additions or changes to the Premises (collectively, the "ALTERATIONS") without first procuring the prior written consent of Landlord to such Alterations, which consent shall be requested by Tenant not less than thirty (30) days prior to the commencement thereof, and which consent (as indicated in Section 29.4 below) shall not be unreasonably withheld by Landlord. However, Tenant may make (i) cosmetic changes to the finish work in the Premises, not requiring any structural or other substantial modifications to the Premises (e.g., voice/data cabling), without Landlord's prior consent, (ii) cosmetic changes to the interior of any Tenant space within the Building (e.g., changes to the carpet, wallcovering and paint) and (iii) nonstructural changes to the interior of any Tenant space within the Building (such cosmetic and nonstructural changes to be referred to hereafter collectively as the "ACCEPTABLE CHANGES") upon at least ten (10) days prior notice to Landlord but without Landlord's prior consent provided (a) with respect to the changes described in Subsection 8.1(iii) above only, such changes do not cost in excess of Two Dollars ($2.00) per usable square foot of the Premises for any one (1) job, (b) such Acceptable Changes do not affect the exterior appearance of the Building or Common Areas, the structural aspects of the Building, or any Building System or Equipment, and (c) Tenant shall perform such Acceptable Changes in a good and workmanlike manner and in conformance with any and all applicable federal, state, county or municipal laws, rules or regulations (collectively, "APPLICABLE LAWS"). At any time Tenant proposes to make Alterations which require the consent of Landlord pursuant to this Section 8.1, Tenant's notice regarding the proposed Alterations shall be provided together with plans and specifications for the Alterations, and Landlord shall approve or disapprove of the same within fifteen (15) days after Landlord's receipt thereof. The construction of the initial improvements to the Premises shall be governed by the terms of the Tenant Work Letter and not the terms of this Article 8, and therefore, as used herein, the term "Alterations" does not refer to any tenant improvements installed pursuant to the Tenant Work Letter.

  • Landlord’s Contribution Landlord shall contribute rent abatements up to the total amount of ONE HUNDRED FIFTY THOUSAND DOLLARS ($150,000.00) (“Landlord’s Contribution”) on account of the cost of refurbishing the Leased Premises including design and engineering costs. Landlord’s Contribution shall be available to Tenant only as follows: (i) Tenant shall submit to Landlord a written request to utilize a portion of Landlord’s Contribution as an abatement of one or more monthly installments of Base Rent (as hereinafter defined) (each a “Contribution Request”); (ii) each Contribution Request shall include evidence reasonably satisfactory to Landlord that Tenant has actually paid to contractors and other relevant professionals an amount at least equal to the amount sought in the Contribution Request in connection with construction, design and or other service and materials directly related to and necessary in connection with the Expansion Project (“Refit Expenses”); (iii) unless a Contribution Request is disputed by Landlord within ten (10) days from receipt by Landlord, Tenant shall be entitled to abatement of Base Rent monthly installment(s) first payable not less than thirty (30) days from submission of such Contribution Request to Landlord; (iv) in addition to the foregoing: (A) Tenant shall be limited to no more than three (3) contribution requests per year; (B) each Contribution Request shall be in an amount not less than the lesser of the remaining unused portion of Landlord’s Contribution and the Base Rent payable for one (1) month and shall specify how Tenant intends to apply the Base Rent abatements to upcoming monthly installment(s) of Base Rent; and (C) monthly abatements of Base Rent shall be applied to whole months and Tenant shall have no right to a partial abatement of monthly Base Rent other than with respect to the last Contribution Request.

  • Tenant Delay Except as otherwise provided in the Lease, Delivery of the Premises shall occur when Landlord’s Work has been Substantially Completed, except to the extent that completion of Landlord’s Work shall have been actually delayed by any one or more of the following causes (“Tenant Delay”): (i) Tenant’s Representative was not available to give or receive any Communication or to take any other action required to be taken by Tenant hereunder within a reasonable period of time (not to exceed 2 business days) after written request from Landlord; (ii) Tenant’s request for changes to the Building Shell, whether or not such changes are actually performed; (iii) The construction of any changes to the Building Shell requested by Tenant and agreed upon by Landlord; (iv) Tenant’s request for Change Requests (as defined in Section 4(a) below) whether or not any such Change Requests are actually performed; (v) Construction of any Change Requests; (vi) Tenant’s request for materials, finishes or installations requiring unusually long lead times (provided Landlord will request that the General Contractor inform Tenant of any long lead time items and identify substitutes for such items as soon as reasonably possible); (vii) Tenant’s delay in reviewing, revising or approving plans and specifications beyond the periods set forth herein; (viii) Tenant’s delay in providing any information that is reasonably required to come from Tenant which is critical to the normal progression of the Project within a reasonable period of time after request. Tenant shall provide such information as soon as reasonably possible, but in no event longer than one week after receipt of any request for such information from Landlord; (ix) Tenant’s delay in making payments to Landlord for Excess TI Costs (as defined in Section 5(d) below) for more than 10 business days after such Excess TI Costs are required to be paid to Landlord; or (x) Any other act or omission by Tenant or any Tenant Party (as defined in the Lease), or persons employed by any of such persons that continues for more than 1 business day after Landlord’s notice thereof to Tenant. If Delivery is delayed for any of the foregoing reasons, then Landlord shall cause the TI Architect to certify the date on which the Tenant Improvements would have been Substantially Completed but for such Tenant Delay and such certified date shall be deemed to be the Commencement Date for purposes of Tenant’s obligation to pay Base Rent, Operating Expenses, Excess TI Costs and TI Rent; however, Tenant will not have any obligation to pay any amounts to third parties pursuant to the Lease (and will not occupy the Premises) until the date upon which the Premises is Delivered to Tenant with the Landlord’s Work Substantially Complete. Upon request, Landlord shall advise Tenant of any materials, finishes or installations which are required as part of any Change Request that will result in unusually long lead times.