First Refusal Space means, as the context may require, any one or more of the following four spaces individually or all four of such spaces collectively: (i) the space of approximately 10,462 square feet commonly known as 000 Xxxx Xxxxx Xxxxxx, Xxxxx 00 and presently occupied by Farmers Insurance: (ii) the space of approximately 6.489 square feet commonly known as 000 Xxxx Xxxxx Xxxxxx, Xxxxx 00 and presently occupied by Gryphon Sciences; (iii) the space of approximately 24,725 presently occupied by ViroLogic, Inc. on the easterly end of the building commonly known as 000 Xxxx Xxxxx Xxxxxx; and (iv) the building commonly known as 000 Xxxx Xxxxx Xxxxxx, presently occupied by Cytokinetics, Inc., and containing approximately 50,195 square feet (the “280 East Grand Building”). The four spaces constituting the First Refusal Space are designated as such on the Site Plan.
First Refusal Space means all space contiguous to the Premises located on the third (3rd) floor of the Building.
First Refusal Space means any space in the second floor of the building at the Project commonly known as “Lab Building 1” (which second floor contains approximately 23,045 rentable square feet of space), which is not occupied by a tenant or which is occupied by a then existing tenant whose lease is expiring within 6 months or less and such tenant does not wish to renew (whether or not such tenant has a right to renew) its occupancy of such space. For the avoidance of doubt, Tenant shall be required to exercise its right under this Section 39(b) with respect to all of the space described in the Pending Deal Notice, including any space in addition to the First Refusal Space that is described in the Pending Deal Notice, which additional space shall be deemed to be included as part of the First Refusal Space. Within 5 business days after Tenant’s receipt of the Pending Deal Notice, Tenant shall deliver to Landlord written notice (the “Space Acceptance Notice”) if Tenant elects to lease the First Refusal Space described in the Pending Deal Notice. Tenant’s right to receive the Pending Deal Notice and election to lease or not lease the First Refusal Space pursuant to this Section 39(b) is hereinafter referred to as the “Right of First Refusal.” If Tenant elects to lease the First Refusal Space described in the Pending Deal Notice by delivering the Space Acceptance Notice within the required 5 business day period, Tenant shall be deemed to agree to lease the First Refusal Space on the same general terms and conditions as this Lease except that the terms of this Lease shall be modified to reflect the terms of the Pending Deal Notice for the rental of the First Refusal Space. Tenant acknowledges that the term of the Lease with respect to the First Refusal Space and the Term of the Lease with respect to the original Premises may not be co-terminous. Notwithstanding anything to the contrary contained herein, in no event shall the Work Letter apply to the First Refusal Space. If Tenant fails to deliver a Space Acceptance Notice to Landlord within the required 5 business day period, Landlord shall have the right to lease the First Refusal Space to the third party subject to the Pending Deal (or an affiliate of such third party) on substantially the same business terms and conditions set forth in the Pending Deal Notice. Notwithstanding anything to the contrary contained in this Section 39(b), Tenant shall have no right to exercise the Right of First Refusal and the provisions of this Sect...
Examples of First Refusal Space in a sentence
Pursuant to such First Refusal Notice, Landlord shall offer to lease to Tenant the applicable First Refusal Space.
The First Refusal Notice shall describe the First Refusal Space, and the lease term, rent and other fundamental economic terms and conditions upon which Landlord proposes to lease such First Refusal Space pursuant to the bona-fide third-party offer.
Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of first refusal, if at all, with respect to all of the space comprising the First Refusal Space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof or object to any of the First Refusal Economic Terms.
Tenant shall commence payment of rent for the First Refusal Space and the Lease Term of the First Refusal Space shall commence upon the date of delivery of such First Refusal Space to Tenant.
Landlord shall notify Tenant (the "First Refusal Notice") from time-to-time when and if Landlord receives a "bona-fide third-party offer" for the First Refusal Space.
More Definitions of First Refusal Space
First Refusal Space means 6,787 rentable square feet of space on the 3rd floor of the Building as shown on Exhibit D attached hereto that is the subject of a Third Party Offer, as defined below.
First Refusal Space is defined in Exhibit G hereto.
First Refusal Space means any space which is available to be leased in the Building.
First Refusal Space is hereby amended to include any portion of the 9th, 10th, 11th or 12th floors of the Building;
First Refusal Space means the entire ground floor of the building more particularly shown on EXHIBIT "A", attached hereto. However, in the event that Landlord adds an expansion onto the Building in the future, then said First Refusal Right shall not apply to said expansion.
First Refusal Space at the beginning of Section 1.5 of the Lease is hereby amended to read as follows: “Landlord hereby grants to the original Tenant named in this Lease and any Affiliated Assignee (the “Original Tenant”), during the Lease Term, a continuing right of first refusal with respect to any and all space located on the second (2nd), third (3rd), sixth (6th), ninth (9th) and tenth (10th) floors of the Building and made a part hereof (collectively, the “First Refusal Space”).” Landlord represents that there are no Superior Leases or other parties with Superior Rights with respect to the ninth (9th) and tenth (10th) floors of the Building. Further, until after the date which is six (6) months from the Effective Date, Landlord agrees it (i) will not lease to any other tenant (or offer to Tenant under Section 1.5 of the Lease) any space located on the ninth (9th) floor of the Building, and (ii) Tenant shall have the right to add such ninth (9th) floor to the Premises upon thirty (30) days advance notice to Landlord, in which case the Base Rent for such ninth (9th) floor shall be the same as the Base Rent per rentable square foot to the Premises with respect to the Additional Premises hereunder. Tenant shall also have the right to add such ninth (9th) floor to the Premises upon thirty (30) days’ advance notice to Landlord at any time after such six (6) month period until Landlord has entered into a lease with a third party with respect to such ninth (9th) floor, in which case the Base Rent for such ninth (9th) floor shall be at the then-current market rate. In the event Tenant exercises its right of first refusal to the ninth (9th) floor space after the date which is six (6) months from the Effective Date, but objects to the determination of the then-current market rate rent determined by Landlord, the parties will determine the Base Rent in accordance with the process set forth in Section 2.3.3 of the Lease for determining Option Rent.
First Refusal Space means all of the shell area on the ground floor of the Building for which Landlord receives a Good Faith Offer (defined below) which space includes all or any portion of the Expansion Space.