Common use of Grant of Option; Conditions Clause in Contracts

Grant of Option; Conditions. Tenant shall have an on-going right of first offer (the “Right of First Offer”) with respect to any space contiguous to the Premises on the 6th floor of the Building, as more particularly shown on Exhibit D hereto (any portion of such space or collectively, the “Offering Space”). Tenant’s Right of First Offer shall be exercised as follows: at any time after Landlord has determined that the existing tenant in the Offering Space will not extend or renew the term of its lease for the Offering Space (but prior to leasing such Offering Space to a party other than the existing tenant), Landlord shall notify Tenant (the “Offer”) of the terms under which Landlord is prepared to lease the Offering Space to Tenant for the remainder of the Lease Term, which terms shall reflect the Prevailing Market (hereinafter defined) rate for such Offering Space as reasonably determined by Landlord. Tenant may lease such Offering Space in its entirety only, under such terms, by delivering written notice of exercise to Landlord (the “Notice of Exercise”) within 10 days after Tenant’s receipt of the Offer, except that Tenant shall have no such Right of First Offer and Landlord need not provide Tenant with an Offer, if:

Appears in 1 contract

Samples: Tenth Amendment (Click2learn Inc/De/)

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Grant of Option; Conditions. Tenant shall have an on-going the continuing right of first offer (the “Right of First Offer”) with respect to any available and vacated rentable space contiguous to in the Premises on Lake Marriott Business Park (so long as Landlord or its affiliate owns the 6th floor of subject building at the Building, as more particularly shown on Exhibit D hereto Property) (any portion of such space or collectively, the “Offering Space”). Tenant’s Right of First Offer shall be exercised as follows: at any time after Landlord has determined that the existing tenant in a portion of the Offering Space will not extend or renew the term of its lease for the Offering Space (but prior to leasing such Offering Space to a party other than the existing tenant), Landlord shall notify advise Tenant (the “OfferAdvice”) of the terms under which Landlord is prepared to lease the subject Offering Space to Tenant for the remainder of the Lease Term, which terms shall reflect the Prevailing Market (hereinafter defined) rate for such Offering Space as reasonably determined by Landlord. Tenant may lease such Offering Space in its entirety only, under such terms, by delivering written notice of exercise to Landlord (the “Notice of Exercise”) within 10 days 5 Business Days after Tenant’s receipt the date of the OfferAdvice, except that Tenant shall have no such Right of First Offer and Landlord need not provide Tenant with an OfferAdvice, if:

Appears in 1 contract

Samples: Office Lease Agreement (Silicon Valley Bancshares)

Grant of Option; Conditions. Tenant shall have an on-going ongoing right of first offer (the “Right of First Offer”) with respect to any space contiguous to the Premises on the 6th entire 22nd floor of the Building, as more particularly Building shown on the demising plan attached hereto as Exhibit D hereto A-2 (any portion of such space or collectively, the “Offering Space”). Tenant’s Right of First Offer shall be exercised as follows: at if during the Term Landlord determines (in Landlord’s sole judgment) that any time after Landlord has determined that portion of the Offering Space is available to lease to a third party other than (i) the existing tenant in or occupant of the Offering Space will not extend Space, or renew the term of its lease for (ii) any person or entity then having any preexisting rights to the Offering Space (but prior to leasing such Offering Space to a party other than the existing tenant)Space, then Landlord shall notify advise Tenant (the “OfferAdvice”) of the economic and other terms and conditions under which Landlord is prepared willing to lease the Offering Space to Tenant for the remainder of the Lease Term, which terms shall reflect the Prevailing Market (hereinafter defined) rate for such Offering Space as reasonably determined by LandlordTenant. Tenant may lease such Offering Space in its entirety only, under such terms, by delivering written notice of exercise to Landlord (the “Notice of Exercise”) within 10 days 5 Business Days after Tenant’s receipt the date of the OfferAdvice, which Notice of Exercise shall include a representation and warranty from Tenant to Landlord that the Offering Space is intended for the exclusive use of Tenant during the Term, except that Tenant shall have no such Right of First Offer and Landlord need not provide Tenant with an OfferAdvice, if:

Appears in 1 contract

Samples: Office Lease Agreement (Ironwood Pharmaceuticals Inc)

Grant of Option; Conditions. Subject to the terms and conditions of this Rider No. 1, Tenant shall have an ona one-going time right of first offer to lease (the “Right of First Offer”) with respect to any space contiguous to the Premises Suite 100 on the 6th first (1st) floor of in the Building, as more particularly shown on Exhibit D hereto Building (any portion of such space or collectively, the Offering ROFO Space”). Tenant’s Right of First Offer shall be exercised as follows: at any time after Landlord has determined that the existing tenant in the Offering ROFO Space as of the Effective Date of the Amendment to which this Rider is attached (Cisco) will not extend or renew the term of its lease for the Offering such ROFO Space (but prior to leasing such Offering ROFO Space to a party other than the existing tenant), Landlord shall notify deliver written notice to Tenant (the “OfferROFO Notice”) of the terms under which Landlord is prepared to lease the Offering ROFO Space to Tenant for the remainder including rental rate and length of the Lease Termterm, which terms shall reflect the Prevailing Market then fair market rental rate (hereinafter defined) rate for such Offering Space as reasonably determined by LandlordROFO Space. Tenant may lease such Offering ROFO Space in its entirety only, under such terms, by delivering written notice of exercise to Landlord (the “Notice of Exercise”) within 10 thirty (30) days after Tenant’s receipt the date of the OfferROFO Notice, except that Tenant shall have no such Right of First Offer and Landlord need not provide Tenant with an Offera ROFO Notice, if:

Appears in 1 contract

Samples: Office Lease (Tandem Diabetes Care Inc)

Grant of Option; Conditions. Following initial leasing of such space by Landlord, Tenant shall have an on-going the one time right of first offer (the “Right of First Offer”) with respect to on any space contiguous immediately adjacent to the Premises on the 6th 2nd floor of the Building, as more particularly shown on Exhibit D hereto (any portion of such space or collectively, the being referred to as “Offering Space”). Tenant’s Right of First Offer shall be exercised as follows: at any time after Landlord has determined that the then existing tenant in the Offering Space will not extend or renew the term of its lease for the Offering Space (but prior to leasing such Offering Space to a party other than the existing tenanttenant or a party with superior rights), Landlord shall notify advise Tenant (the “OfferAdvice”) of the terms under which Landlord is prepared to lease the Offering Space to Tenant for the remainder of the Lease Term, which terms shall reflect the greater of the Prevailing Market (hereinafter defined) rate for such Offering Space as reasonably determined by LandlordLandlord or the Base Rent per rentable square foot and Tax and Expense Base Year for the Premises. Tenant may lease such Offering Space in its entirety only, under such terms, by delivering written notice of exercise to Landlord (the “Notice of Exercise”) within 10 3 business days after Tenant’s receipt the date of the OfferAdvice, except that Tenant shall have no such Right of First Offer and Landlord need not provide Tenant with an OfferAdvice, if:

Appears in 1 contract

Samples: Office Lease (Optimer Pharmaceuticals Inc)

Grant of Option; Conditions. Tenant shall have an on-going ongoing right of first offer (the “Right of First Offer”) with respect to any adjacent, contiguous space contiguous to the Expansion Premises on the 6th ground floor of the Building, as more particularly shown on Exhibit D hereto Expansion Building (any portion of such space or collectively, the “Offering ROFO Space”). Tenant’s Right of First Offer shall be exercised as follows: at any time after Landlord has determined that the existing tenant in the Offering any ROFO Space will not extend or renew the term of its lease for the Offering such ROFO Space (but prior to leasing such Offering ROFO Space to a party other than the existing tenant), Landlord shall notify deliver written notice to Tenant (the “OfferROFO Notice”) of the terms under which Landlord is prepared to lease the Offering ROFO Space to Tenant for the remainder of the Lease Term, which terms shall reflect the Prevailing Market (hereinafter defined) rate for such Offering ROFO Space as reasonably determined by Landlord. Tenant may lease such Offering ROFO Space in its entirety only, under such terms, by delivering written notice of exercise to Landlord (the “Notice of Exercise”) within 10 days ten (10) Business Days after Tenant’s receipt the date of the OfferROFO Notice, except that Tenant shall have no such Right of First Offer and Landlord need not provide Tenant with an Offera ROFO Notice, if:

Appears in 1 contract

Samples: Summit Office Lease (Avanir Pharmaceuticals, Inc.)

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Grant of Option; Conditions. Tenant shall have an on-going the one time right of first offer (the "Right of First Offer) with respect to any space contiguous to either the Premises 15,626 rentable square feet known as Suite No. B220 on the 6th 2nd floor of the Building, as more particularly New Building shown on the demising plan attached hereto as Exhibit D D-1, or the 2,055 rentable square feet known as Suite No. B270 on the 2nd floor of the New Building shown on the demising plan attached hereto as Exhibit D-2 (any portion of such either space or collectively, as applicable to be referred to herein as the "Offering Space"). Tenant’s 's Right of First Offer shall be exercised as follows: at any time after Landlord has determined that the existing tenant in the Offering Space will not extend or renew the term of its lease for the Offering Space (but prior to leasing such Offering Space to a party other than the existing tenant), Landlord shall notify advise Tenant (the “Offer”"Advice) of the terms under which Landlord is prepared to lease the Offering Space to Tenant for the remainder of the Lease Term, which terms shall reflect (the Offering Space Prevailing Market (hereinafter definedas defined below) rate for such Offering Space as reasonably determined by Landlord. Tenant may lease such Offering Space in its entirety only, under such terms, by delivering written notice of exercise to Landlord (the "Notice of Exercise") within 10 5 days after Tenant’s receipt the date of the OfferAdvice, except that Tenant shall have no such Right of First Offer and Landlord need not provide Tenant with an OfferAdvice, if:

Appears in 1 contract

Samples: Part of Lease Agreement (Clean Energy Fuels Corp.)

Grant of Option; Conditions. Tenant shall have an on-going the continuing right of first offer (the “Right of First Offer”"RIGHT OF FIRST OFFER") with respect to any space contiguous to the Premises 18,035 rentable square feet known as suite number 1700 on the 6th 17th floor of the Building, as more particularly Office Building shown on Exhibit D the demising plan attached hereto as EXHIBIT A-1 (any portion of such space or collectively, the “Offering Space”"OFFERING SPACE"). Tenant’s 's Right of First Offer shall be exercised as follows: at any time after Landlord has determined that the existing tenant in any portion of the Offering Space will not extend or renew the term of its lease for such portion of the Offering Space (but prior to leasing such portion of the Offering Space to a party other than the existing tenant), Landlord shall notify advise Tenant (the “Offer”"ROFO ADVICE") of the terms under which Landlord is prepared to lease the applicable Offering Space to Tenant for the remainder of the Lease Term, which terms shall reflect the Prevailing Market (hereinafter defined) rate for such Offering Space as reasonably determined by Landlord. Tenant may lease such Offering Space in its entirety only, under such terms, by delivering written notice of exercise to Landlord (the “Notice of Exercise”"ROFO NOTICE OF EXERCISE") within 10 days 5 Business Days after Tenant’s receipt the date the ROFO Advice is deemed to have been received by Tenant (in accordance with Section 24 of the OfferLease), except that Tenant shall have no such Right of First Offer and Landlord need not provide Tenant with an Offera ROFO Advice, if:

Appears in 1 contract

Samples: Office and Laboratory Lease Agreement (Combinatorx, Inc)

Grant of Option; Conditions. Tenant shall have an on-going the one time right of first offer (the “Right of First Offer”) with respect to any available space contiguous to the Premises on the 6th third (3rd) floor of the BuildingBuilding (the "Offering Space"). Notwithstanding anything to the contrary contained herein, as more particularly shown on Exhibit D hereto (any no portion of the Offering Space shall be deemed available until each such space or collectively, portion of the Offering Space has been leased to a third party and thereafter Landlord determines that such third party tenant of such Offering Space will vacate such Offering Space”). Tenant’s Right of First Offer shall be exercised exercised, if at all, as follows: at any time after Landlord has determined that the existing tenant in the Offering Space will not extend or renew the term of its lease for the Offering Space (but prior to leasing such Offering Space to a party other than the existing tenant), Landlord shall notify advise Tenant (the “Offer”"Advice") of the terms under which Landlord is prepared to lease the Offering Space to Tenant for the remainder of the Lease Term, which terms shall reflect the Prevailing Market (hereinafter defined) rate for such Offering Space as reasonably determined by Landlord. Tenant may lease such Offering Space in its entirety only, under such terms, by delivering written notice of exercise to Landlord (the "Notice of Exercise") within 10 business days after Tenant’s receipt the date of the OfferAdvice, except that Tenant shall have no such Right of First Offer and Landlord need not provide Tenant with an OfferAdvice, if:

Appears in 1 contract

Samples: Indenture of Lease (Dicerna Pharmaceuticals Inc)

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