Right of First Refusal Space definition
Examples of Right of First Refusal Space in a sentence
Possession of the Right of First Refusal Space shall be delivered to Tenant in an “as is” condition.
If Landlord enters into negotiations with an existing tenant in the Building or a prospective tenant to lease all or any part of the Right of First Refusal Space (the “Offered Space”), Landlord shall notify Tenant of such fact and shall include in such notice the rent, term, and other terms (including, but not limited to, finish out, moving allowances and design fees) at which Landlord is prepared to offer such Offered Space to such prospective tenant.
Tenant’s right to lease the Right of First Refusal Space is subject to the pre-existing rights of CBCA.
If Landlord does not enter into a lease with such prospective tenant covering the Offered Space upon economic terms which are not materially less favorable to Landlord within 180 days of Tenant’s waiver of its right to lease the Offered Space, Landlord shall not thereafter engage in other lease negotiations with respect to the Right of First Refusal Space without first complying with the provisions of this Rider No. 104.
Landlord shall not voluntarily lease the Right of First Refusal Space to a third party (other than to the then-current tenant or subtenant of such space) without making such proposed new lease (a “New Lease”) subject to Tenant’s Right of First Refusal.
Any termination of the Lease shall terminate all rights of Tenant with respect to the Right of First Refusal Space.
Tenant shall have five (5) business days after receipt of the Statement within which to notify Landlord in writing that it desires to lease the applicable Right of First Refusal Space upon the terms and conditions contained in the Statement.
Tenant’s rejection of any particular Pending Deal Notice shall not relieve Landlord of its obligation to again offer any Right of First Refusal Space to Tenant at any time that Landlord intends, other than with respect to Subtenant with respect to whom the terms of this Section 20 shall not apply, to again agree to a written proposal from another party to lease such space in such period.
If Tenant fails to timely exercise the Right of First Refusal Expansion Option, Tenant shall be deemed to have waived its Right of First Refusal Expansion Option with respect to such Right of First Refusal Space.
If Landlord falls to lease the Right of First Refusal Space or if such space becomes available again during the Initial Lease Term, Tenant’s rights hereunder shall be reinstated.