Available for Leasing, etc Sample Clauses
The "Available for Leasing, etc" clause defines the conditions under which a property or asset can be offered for lease or similar arrangements. Typically, this clause outlines the requirements that must be met before the property is considered available, such as completion of repairs, compliance with legal standards, or the expiration of a prior lease. For example, it may specify that the premises must be vacant and in a leasable condition before marketing to new tenants. The core function of this clause is to provide clarity and set expectations for both parties regarding when and how the property can be leased, thereby preventing disputes over availability and readiness.
Available for Leasing, etc. For purposes of this Article XIX, space shall be deemed “available for leasing” when Landlord has determined in its discretion that (a) the space is vacant, or (b) the respective existing tenant or occupant of the applicable ROFO Space has no express right set forth in its lease or occupancy agreement, granted prior to the Effective Date, to extend or renew the term of its lease or occupancy agreement for the applicable ROFO Space. For purposes of this Article XIX, space shall not be deemed “available for leasing” if, at the time in question (i) any person or entity leases or occupies the ROFO Space, whether pursuant to a lease or other agreement, and has an express option or right, granted prior to the Effective Date, to renew its lease or rights of occupancy of such ROFO Space (unless such person or entity confirms to the reasonable satisfaction of Landlord that it does not intend to extend or renew the term of the lease or other occupancy agreement for the ROFO space or enter into a new lease for such ROFO Space), (ii) any person or entity holds an option or right granted prior to the Effective Date to lease or occupy the ROFO Space, or any other rights or claims thereto (including, without limitation, any rights of first offer, rights of first refusal or expansion rights) granted prior to the Effective Date, or (iii) Landlord intends to occupy the ROFO Space, or to lease or otherwise permit the occupancy of the ROFO Space by an affiliate or subsidiary of Landlord. In no event shall Landlord be liable to Tenant for any failure by any then existing tenant or occupant to vacate the ROFO Space by any particular date. Nothing set forth in this Article XIX shall be construed to limit Landlord’s right to lease space in the Building to affiliates of Landlord, or to keep space in the Building vacant if Landlord elects, in its sole discretion, to do so, and such space leased to affiliates, subsidiaries or related entities, or vacant space, shall in no event be deemed to be “available for leasing” hereunder. Notwithstanding anything herein to the contrary, all rights of first offer granted to Tenant pursuant to this Article XIX are subject and subordinate in all respects to the express rights (whether such rights are designated as a right of first offer, right of first refusal, expansion option or otherwise) of any tenant or occupant of the Building existing on the date of this Lease, which rights are set forth on Schedule 19.2 attached hereto.