Common use of Exhibit FIRST REFUSAL Clause in Contracts

Exhibit FIRST REFUSAL. Whenever any party under the Ground Lease shall have a right of first refusal as to certain property, the following procedures shall apply. If the owner of the property offering it for sale (“Offering Party”) shall within the term of the Ground Lease receive a bona fide third party offer to purchase the property which such Offering Party is willing to accept, the holder of the right of first refusal (the “Holder”) shall have the following rights:

Exhibit FIRST REFUSAL. Whenever any party under the Ground Lease shall have a right of first refusal as to certain property, the following procedures shall apply. If the owner of the property offering it for sale (“Offering Party”) shall within the term of the Ground Lease receive a bona fide third party offer to purchase the property which such Offering Party is willing to accept, the holder of the right of first refusal (the “Holder”) shall have the following rights:

Exhibit FIRST REFUSAL. Whenever any party under the Ground Lease shall have a right of first refusal as to certain property, the following procedures shall apply. If apply if the owner of the property offering it for sale or lease or otherwise disposing of it (“Offering Party”) shall within the term of the Ground Lease receive a bona fide third party offer to purchase or lease the property which such Offering Party is willing or bound by operation of law or judicial action to accept, the holder of the right of first refusal (the “Holder”) shall have the following rights: