Available ROFO Space Sample Clauses

Available ROFO Space. If, at any time during the Term of the Lease (but only for so long as three (3) years remain in the term of the Lease, or if less than three (3) years remain but Tenant chooses to exercise the Extension Option provided in Rider Section 7 herein simultaneously with Tenant’s election of its rights under this Rider Section 2 and Tenant is entitled to renew pursuant to the provisions thereof), Landlord desires to actively market any space in the Building (other than any partial floor of the Building on which Tenant already leases space pursuant to this Lease, which shall be governed by Rider Section 1 above) which is accessible by the elevator bank(s) serving the Premises at such time (each space, the “Available ROFO Space”), then subject to the terms of this Rider Section 2, Landlord shall give Tenant written notice (“Available ROFO Notice”) no less than four (4) months and no more than twelve (12) months in advance of such event. The Available ROFO Notice shall include, with respect to such Available ROFO Space, Landlord’s good faith estimate (but not binding, subject to the Baseball Arbitration procedure described below) of the Market Rental Rate, the anticipated delivery date (“Anticipated Available ROFO Delivery Date”), and the location, configuration and size of the Available ROFO Space, concessions offered (in Landlord’s discretion), and whether such Available ROFO Space shall be delivered in its then as-is condition or other condition as selected by Landlord. In the event Tenant desires to lease the Available ROFO Space, within thirty (30) days after the date the Available ROFO Notice is delivered to Tenant, Tenant shall give Landlord written notice (“Available ROFO Acceptance Notice”) of its election to lease the Available ROFO Space, the time of giving of the Available ROFO Acceptance Notice to be of the essence of this Section. In the event Tenant desires to lease the Available ROFO Space but disputes in the Available ROFO Acceptance Notice Landlord’s estimate of the Market Rental Rate, the parties shall have an additional period of fifteen (15) business days after Landlord’s receipt of the Available ROFO Acceptance Notice in which to negotiate in good faith the Market Rental Rate. If after such fifteen (15) additional business days, the parties cannot agree to the Market Rental Rate, the Market Rental Rate shall be determined in accordance with the Baseball Arbitration procedure described below.
Sample 1
AutoNDA by SimpleDocs
Available ROFO Space. For the purposes hereof, the “Available ROFO Space” shall be defined as any and all blocks of space consisting of between 5,000 and 10,000 square feet of rentable floor area located on the third (3rd) through sixteenth (16th) floors of the Building as and when such space becomes available for reletting (as hereinafter defined). Available ROFO Space shall be deemed “available for reletting” when Landlord, in its sole judgment, determines that the then current tenant of the applicable Available ROFO Space will vacate the Available ROFO Space at the expiration or earlier termination of such tenant’s lease and any applicable Prior Rights have lapsed or been waived.
Sample 1
Available ROFO Space. For the purposes hereof, the “Available ROFO Space” shall be defined as all or any portion of that certain premises consisting of approximately 4,000 square feet of rentable floor area on the third (3rd) floor of the Building and approximately as shown as the “ROFO Premises” shown on Exhibit D attached hereto and incorporated herein by reference as and when such space becomes available for reletting. In connection therewith, it is acknowledged and agreed that (i) the Available ROFO Space is vacant as of the date hereof, and (ii) Landlord shall have the right to initially lease the Available ROFO Space to third parties as Landlord deems appropriate in its sole discretion, prior to triggering Tenant’s right of first offer under this Section 2.9. Such initial leases and the terms thereof (including, but not limited to, the original terms, any options to extend the terms, any expansion rights or options and any amendments thereto) are hereinafter called the “Initial Leases” and the tenants under the Initial Leases are hereinafter called the “Initial Tenants.” Available ROFO Space shall be deemed “available for reletting” when Landlord reasonably determines that the then current tenant of the applicable Available ROFO Space will vacate the Available ROFO Space at the expiration or earlier termination of such tenant’s lease and any applicable Prior Rights (as defined below) have lapsed or been waived.
Sample 1

Related to Available ROFO Space

  • Construction In First Offer Space Tenant shall take the First Offer Space in its “as is” condition, subject to any improvement allowance granted as a component of the Fair Rental Value, and the construction of improvements in the First Offer Space shall comply with the terms of Article 8 of this Lease.

  • Expansion Space As used in this paragraph, the term “Expansion Space” means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.

  • Adjacent Premises If the Premises are part of a larger building, or of a group of buildings owned by Lessor which are adjacent to the Premises, the Lessee shall pay for any increase in the premiums for the property insurance of such building or buildings if said increase is caused by Lessee's acts, omissions, use or occupancy of the Premises.

  • Expansion Premises In addition to the Original Premises, commencing on the Expansion Premises Commencement Date (as defined below), Landlord leases to Tenant, and Tenant leases from Landlord, the Expansion Premises.

  • Additional Space Commencing on May 1, 2001, Sublessor herein grants unto the Sublessee a Right of First Refusal on any space that shall be and/or becomes available in the building during the remaining Term of this Sublease. Prior to May 1, 2001 and thereafter prior to the first day of May of any calendar year during the remaining Term hereof, Sublessor shall notify Sublessee by written notice of the availability of any such space in the building. Should Sublessee desire to exercise its Right of First Refusal and sublease such available space, Sublessee must notify Sublessor in writing of its desire to sublease the available space within seven (7) calendar days of Sublessee's receipt of Landlord's notice of availability. Within thirty (30) days of the receipt of Sublessee's notice exercising the right to sublease such available space, Sublessee and Sublessor shall enter into an amendment of this agreement setting forth the terms under which the additional space is subleased to Sublessee. The Base Rental shall be at a rental mutually agreed between Sublessee and Sublessor. Failure by Sublessee to exercise its Right of First Refusal within said seven (7) calendar day period, or if exercised, failure to enter into an amendment of this agreement within thirty (30) days of Sublessor's receipt of Sublessee's notice, shall be deemed a waiver of such right and Sublessor shall thereafter be free of any obligation under this Article 2.04 for a period of 12 months. Any exercise by Sublessee of this Right of First Refusal shall be for a minimum of 5,000 rental square feet.

  • Multi-Tenant Floors If other tenants occupy space on the floor on which the Premises is located, Tenant’s identifying signage shall be provided by Landlord, at Tenant’s cost, and such signage shall be comparable to that used by Landlord for other similar floors in the Building and shall comply with Landlord’s then-current Building standard signage program.

  • Parking Spaces LANDLORD agrees to furnish 3 1/3 unreserved parking spaces per thousand square feet of space occupied by the TENANT.

  • Additional Premises Landlord shall use commercially reasonable efforts to expand the Premises to include an additional fifteen thousand four hundred ten (15,410) square feet of Rentable Area located on the first (1st) floor, as shown on Exhibit A attached hereto (the “Additional Premises”) on July 1, 2012 (the “Additional Premises Delivery Date”). In the event Landlord determines the Additional Premises will be ready for delivery to Tenant in the Required Condition on the Additional Premises Delivery Date, within ten (10) business days prior to the Additional Premises Delivery Date, Landlord and Tenant shall enter into a written amendment to the Lease, which amendment shall provide, unless otherwise agreed in writing, (a) that the commencement date of the Additional Premises shall be the Additional Premises Delivery Date (the “Additional Premises Commencement Date”), (b) that, as of the Additional Premises Commencement Date, the Premises under the Lease shall be increased to include the Additional Premises for a total of sixty-one thousand four hundred forty-four (61,444) square feet of Rentable Area (together, the Premises and the Additional Premises shall be referred to hereinafter as the “Total Premises”), (c) the new Basic Annual Rent applicable to the Total Premises, which shall commence on the Additional Premises Commencement Date and shall be as further described in Section 4.2 of this Amendment, (d) Tenant’s new Pro Rata Share of Operating Expenses as of the Additional Premises Commencement Date, which Pro Rata Share shall equal one hundred percent (100%) of the Building and thirty-three and 51/100 percent (33.51%) of the Project and (e) that, in addition to the parking which Tenant is entitled to under the terms of the Lease with respect to the original Premises, Tenant, for so long as Tenant leases the Additional Premises, shall have a non-exclusive license to use the parking facilities serving the Building in common on an unreserved basis with other tenants of the Building and the Project at a ratio of 3.3 parking spaces per 1,000 rentable square feet of Additional Premises, which amounts to fifty-one (51) additional parking spaces, which number shall include three (3) additional Reserved Spaces. In the event the Additional Premises is not ready for delivery to Tenant in the Required Condition on the Additional Premises Delivery Date, then (x) this Amendment and the Lease shall not be void or voidable, (y) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom and (z) the new Basic Annual Rent applicable to the Premises shall be as further described in Section 4.3 of this Amendment.

  • Substitute Premises The “Substitute Premises” shall mean a parcel of land located by itself on a separate tax parcel with a completed building constructed thereon, with respect to which a certificate of occupancy has been issued and all other licenses and permits have been received, provided, however, that such land and building shall have a then-current appraised value at least equal to the current appraised value of the Premises (or in the case of damage or destruction the anticipated appraised value of the building) upon completion of the Building. Notwithstanding the immediately preceding sentence, the Substitute Premises shall not be required to be located in the same state as the Premises if Master Tenant pays to or for the benefit of Landlord all costs and expenses incurred by Landlord and Fee Mortgagee in connection with the acquisition and ownership of such property which would not have been incurred had the Substitute Premises been located in the same state as the Premises.

  • Original Premises Tenant shall continue to pay Base Rent for the Original Premises as provided for in the Lease.

Time is Money Join Law Insider Premium to draft better contracts faster.