FIRST RIGHT TO LEASE. Subject to the terms hereof, if (i) during the Term of this Lease there exists no Default of Tenant under Section 23(a)(i) of this Lease, and (ii) Tenant shall not have assigned this Lease or currently sublet more than fifty percent (50%) of the Premises (other than to an affiliated entity or successor as described in Section 20(b) above), and Tenant then actually occupies at least fifty percent (50%) of the Premises, and (iii) this Lease is still in full force and effect and at least two (2) years then remain in the Term (all of which conditions are for the benefit of, and may be waived by, Landlord), then at the time each of the two spaces in the Building that are immediately adjacent to the Premises and currently occupied by A.J. Mailing and Securadyne Northeast (each, a “First Offer Space”) becomes unencumbered from any existing renewal or extension options, Landlord shall so notify Tenant, and deliver with such notice a description of that portion (if less than all) of such First Offer Space that is available for lease (the “Offered Space”) and all of the material terms and conditions on which Landlord is willing to so lease the Offered Space to Tenant (including without limitation the rent, any allowances and the rentable square footage of the Offered Space). Tenant shall have a one-time right on each First Offer Space, which Tenant may exercise by giving Landlord notice within ten (10) days after receipt of Landlord’s notice with respect to such First Offer Space, to irrevocably elect to lease the Offered Space on the terms and conditions set forth in Landlord’s notice. If Tenant shall so elect to lease the Offered Space (and provided that the conditions in clauses (i) through (iii) above continue to exist at the time of execution of such lease or amendment), Landlord shall furnish a commercially reasonable draft lease or lease amendment incorporating such terms and conditions set forth in Landlord’s notice, and Tenant shall, within ten (10) Business Days after receipt of such lease or amendment, execute and deliver the same to Landlord, but Tenant’s failure to enter into such lease or amendment shall have no effect on Tenant’s right or obligation to lease the Offered Space, unless Landlord shall elect to nullify Tenant’s election as a result thereof. Except as herein provided, if Tenant shall fail to elect to lease any Offered Space within such 10-day period (time being of the essence), Tenant shall have no further rights with respect to such First...
FIRST RIGHT TO LEASE. If, during the original Term or any Extension Term, Sublandlord elects to Sublease any space in the Building, then Sublandlord shall first offer such space in writing to Subtenant on terms and conditions no less favorable than those terms Sublandlord is willing to offer such space to third parties which shall be the then fair market rental value for the Premises. If within ten (10) days after receipt of such offer, Subtenant does not notify Sublandlord that Subtenant elects to Sublease such space, then Sublandlord shall be relieved of any obligations to Subtenant with regard to any such offering; provided, however, that a failure by Subtenant to Sublease any specific space when so offered by Sublandlord shall not relieve Sublandlord of its obligation to first offer Subtenant any other space in the Building if, as and when Sublandlord elects to offer such other space to third parties. If Subtenant exercises its first right to Sublease, Sublandlord and Subtenant shall negotiate in good faith the fair market rental rate for the first right space and if the parties are unable to agree upon such fair market value within thirty (30) days of Subtenant’s election to Sublease such space (the “Outside Agreement Date”), the parties shall submit such fair market rental rate for determination by appraisal in accordance with Paragraph 27, below.
FIRST RIGHT TO LEASE. During the Lease term, Lessee shall have an ongoing first right to lease all, but not less than all, any then-available space on the Building’s fifth (5th) floor on the same terms as provided in this Lease (the “5th Floor FRL”). Lessor shall notify Lessee in writing when space becomes vacant or otherwise available on the 5th floor. Lessee shall have ten (10) business days after receipt of Lessor’s written notice to elect to lease said space (on the same terms of this Lease) by providing Lessor written notice of Lessee’s exercise of its 5th Floor FRL. If Lessee does not timely exercise its 5th Floor FRL as provided herein, Lessor may proceed to lease such space to third parties. The five (5) months of free rent described in section 3 of this Lease shall not apply to any space leased pursuant to the 5th Floor FRL. Lessor shall not offer to rent any available space on the Building’s 5th floor to any potential tenant prior to August 1, 2012.
FIRST RIGHT TO LEASE. If, during the original or any additional term hereof, Landlord elects to lease any space in Building 2 of Govexxxx Xxxx Xxxxx, 0000 Xxxxxxxxx Xxxxx, xxen Landlord shall first offer such space in writing to Tenant on terms and conditions no less favorable than those offered to third parties. If within twelve (12) days after receipt of such offer, Tenant does not notify Landlord that Tenant elects to lease such space, then Landlord shall be relieved of any obligations to Tenant with regard to any such offering; provided, however that a failure by Tenant to lease any specific space when so offered by Landlord shall not relieve Landlord of its obligation to first offer Tenant any other space in Building 2 if, as and when Landlord elects to offer such other space to third parties.
FIRST RIGHT TO LEASE. Provided Tenant is not in default of any of its lease obligations, Tenant shall have the Right to Lease the remaining balance of space on the first floor of 00 Xxxxxx Xxxxxx, Xxxxxxxxx, Xxx Xxxx 00000. At the time the Landlord enters into serious conversation with regards to leasing said approximately 3,741 square feet or any portion thereof, on the first floor, it must provide Tenant with written notice that said space is being considered for lease by a third party. Tenant has five (5) business days to inform Landlord, in writing, of its intention to either expand into said space or reject leasing the additional space at that time. Should Tenant elect to lease the additional space it must agree to extend the remaining Term of its lease so that at least three (3) years remain at the time of Tenants occupancy of the additional space with the exception of the initial two years of the lease term. The three year minimum extension period shall apply to the entire amount of space Tenant leases at the time of the expansion. Landlord agrees to repaint and shampoo carpet within the expansion space. The Base Rent for the expansion space shall be equal to the Tenant's then-current Base Rent Per Square Foot Rate.
FIRST RIGHT TO LEASE. (Section 28.01): Tenant shall have the first right to lease any additional contiguous space on the third floor of the building in accordance with the terms and conditions set forth in Section 28.01 herein. Landlord shall give Tenant written notice of its intent to lease other contiguous space on said third floor, together with the lease terms therefor, and thereafter Tenant shall have five (5) business days after receipt of such notice to elect in writing whether or not to lease the additional space on the terms stated in Landlord’s notice. Failure of Tenant to give written notice accepting or rejecting Landlord’s proposal as set forth above shall be deemed a waiver by Tenant of its first right to lease. If Tenant does not elect to lease the additional space and Landlord fails to enter into a lease with another tenant within one hundred twenty (120) days from the date of said Landlord notice, then Tenant shall have a reinstated first right to lease the subject space in accordance with the above process.
FIRST RIGHT TO LEASE. From the date of Landlord’s execution of the Lease to the earlier of ninety (90) days after completion of the Merger and June 30, 2019 (the “Exercise Date”), Tenant shall have the right to lease the entirety of the balance of the Building or, as more fully described below, such lesser amount thereof as to which Landlord has a bona fide prospect (the “Remainder Space”) by notifying Landlord in writing (“Tenant’s RS
FIRST RIGHT TO LEASE. Provided Tenant is not in default hereunder and provided Tenant leases at least 30,000 square feet in the Building, Tenant shall have the First Right to lease all space in the Building. Landlord shall provide Tenant with formal notice of its intent to lease said space, and Tenant shall have ten (10) calendar days within which to notify Landlord in writing of its intent to lease the Expansion Space. Failure by Tenant to provide written notice within ten (10) calendar days of Tenant's receipt of Landlord's notice shall be deemed a waiver by Tenant of its First Right to lease, and Landlord shall be free to lease the Expansion Space on such terms and conditions as it deems appropriate. Any waiver by Tenant of Tenant's right, as set forth herein, shall not constitute a waiver by Tenant of any future first right to lease. Should Tenant elect to lease the Expansion Space, the following terms shall apply:
FIRST RIGHT TO LEASE. During the period from the Extension Date until the last day of the fiftieth (50th) full month of the Extended Term, Tenant shall have the First Right to lease Suite 250 of the 3020 Building, subject to and in accordance with the terms and conditions of Rider No. 4 attached hereto.
FIRST RIGHT TO LEASE. Tenant is hereby granted the following right of first right to lease space in the Draper Business Park. If Tenant should desire additional space, Tenant shall notify Landlord in writing of the amount of space desired. Within ten (10) days Landlord shall advise what space is available meeting Tenant’s request and the fair market rental value of such space. (Landlord may exclude space which is not suitable or economic to modify or reduce in size to the area specified by Tenant.) Tenant shall, within five (5) days, give written notice if Tenant elects to take the additional space. Landlord and Tenant shall enter into a written lease, substantially in the form of this Lease, for the additional space, including rent increases annually Landlord, at its election, may require that the term of the lease on the new space coincide with the term of this Lease or on the date of increase under the Lease, at Landlord election.
