Common use of Grant of Option; Conditions Clause in Contracts

Grant of Option; Conditions. Subject to Section 10.5 below, Tenant shall have the one time right of refusal (the "Right of Refusal") with respect to Suite 102A containing approximately 6,302 rentable square feet on the first floor of the Building (i.e. Celebration Office Center I) (the "Refusal Space"). Tenant's Right of Refusal shall be exercised as follows: when Landlord has a prospective tenant, other than the existing tenant in the Refusal Space (the "Prospect"), interested in leasing the Refusal Space (as evidenced by a signed letter of intent or an exchange of good faith proposals and a tenant request to prepare lease documents), Landlord shall advise Tenant (the "Advice") of the terms under which Landlord is prepared to lease the Refusal Space to such Prospect and Tenant may lease the Refusal Space, under such terms, by providing Landlord with written notice of exercise (the "Notice of Exercise") within 5 business days after the date of the Advice. In the event that another Tenant has superior rights to the Refusal Space in accordance with Section 10.5, Landlord shall have the right to either: (i) send Tenant an Advice only after such superior rights have lapsed or been rejected; or (ii) concurrently send an Advise to Tenant and the tenant with superior rights on the condition that Tenant's right to exercise its Right of Refusal will be conditioned and contingent upon the lapse or rejection of all superior rights to lease the Refusal Space. Notwithstanding the foregoing, Tenant shall only have a Right of Refusal if:

Grant of Option; Conditions. Subject to Section 10.5 below, Tenant shall have the one time a right of refusal first offer (the "“Right of Refusal"First Offer”) with respect to Suite 102A containing approximately 6,302 rentable square feet on the first floor of any space currently leased by 24M Technologies, Inc. at the Building (i.e. Celebration Office Center I) (the "Refusal an “Offering Space"”). Tenant's ’s Right of Refusal First Offer shall be exercised as follows: when if during the Term Landlord has determines (in Landlord’s sole judgment) that all or a prospective tenant, portion of the Offering Space is available to lease to a third party other than 24M Technologies, Inc., its successors or assigns (hereafter the existing tenant in the Refusal Space (the "Prospect"“Existing Tenant”), interested in leasing the Refusal Space (as evidenced by a signed letter of intent or an exchange of good faith proposals and a tenant request to prepare lease documents), then Landlord shall advise Tenant (the {X00000000.9 } "Advice") of the economic and other terms and conditions under which Landlord is prepared to lease such portion of the Refusal Offering Space to Tenant, which terms shall reflect the fair market rental rate for such Prospect and Offering Space as reasonably determined by Landlord. Tenant may lease the Refusal Spacesuch Offering Space in its entirety only, under such terms, by providing Landlord with delivering written notice of exercise to Landlord (the "Notice of Exercise") within 5 10 business days after the date of the Advice. In any event, Tenant’s delivery of a Notice of Exercise shall be deemed to be the event that another irrevocable exercise by Tenant has superior rights of its Right of First Offer subject to the Refusal Space and in accordance with the provisions of this Section 10.5, Landlord shall have the right to either: (i) send Tenant an Advice only after such superior rights have lapsed or been rejected; or (ii) concurrently send an Advise to Tenant and the tenant with superior rights on the condition that Tenant's right to exercise its Right of Refusal will be conditioned and contingent upon the lapse or rejection of all superior rights to lease the Refusal Space6. Notwithstanding the foregoing, Tenant shall only have a no such Right of Refusal First Offer and Landlord need not provide Tenant with an Advice, if:

Grant of Option; Conditions. Subject During the initial Term and Renewal Term, if any, and subject to Section 10.5 6.06, below, Tenant shall have the one a one-time right of refusal first offer (the "Right of RefusalRIGHT OF FIRST OFFER") with respect to Suite 102A containing the approximately 6,302 18,000 rentable square feet known as Suite 200 on the first 2nd floor of the Building (i.e. Celebration Office Center I) shown on the demising plan attached hereto as EXHIBIT G (the "Refusal SpaceOFFERING SPACE"). Tenant's Right of Refusal First Offer shall be exercised as follows: when at any time after Landlord has a prospective tenant, other than determined that the existing tenant in the Refusal Offering Space will not extend or renew the term of its lease for any portion of the Offering Space (but prior to leasing such portion of the "Prospect"), interested in leasing Offering Space to a party other than the Refusal Space (as evidenced by a signed letter of intent or an exchange of good faith proposals and a tenant request to prepare lease documentsexisting tenant), Landlord shall advise Tenant (the "AdviceADVICE") of the terms under which Landlord is prepared to lease such portion of the Refusal Offering Space (which may be all of, or less than, the entire Offering Space) to Tenant for the remainder of the Term, which terms shall reflect the Prevailing Market (hereinafter defined) rate for such Prospect and portion of the Offering Space as reasonably determined by Landlord. Tenant may lease the Refusal Spaceapplicable portion of the Offering Space described in the Advice in its entirety only, under such terms, by providing Landlord with delivering written notice of exercise to Landlord (the "Notice of ExerciseNOTICE OF EXERCISE") within 5 business days Business Days after the date of the Advice. In the event , except that another Tenant has superior rights to the Refusal Space in accordance with Section 10.5, Landlord shall have the right to either: (i) send Tenant an Advice only after no such superior rights have lapsed or been rejected; or (ii) concurrently send an Advise to Tenant and the tenant with superior rights on the condition that Tenant's right to exercise its Right of Refusal will be conditioned First Offer and contingent upon the lapse or rejection of all superior rights to lease the Refusal Space. Notwithstanding the foregoingLandlord need not provide Tenant with an Advice, Tenant shall only have a Right of Refusal if:

Grant of Option; Conditions. Subject to Section 10.5 below, Tenant shall have the one time right of first refusal (the "Right of RefusalRIGHT OF FIRST REFUSAL") with respect to Suite 102A containing the approximately 6,302 23,199 rentable square feet of space known as suite number 300 on the first 3rd floor of the Science Building (i.e. Celebration Office Center I) shown on the demising plan attached hereto as EXHIBIT A-2 (the "Refusal SpaceREFUSAL SPACE"). As of the date of this Lease, the Refusal Space is currently vacant and unoccupied. Tenant's Right of First Refusal shall be exercised as follows: when Landlord has a prospective tenant, other than tenant (the existing tenant "ROFR PROSPECT") interested in leasing any portion of the Refusal Space (in connection with the "Prospect"), interested in leasing initial lease up of the Refusal Space (as evidenced by a signed letter of intent or an exchange of good faith proposals and a tenant request to prepare lease documents)Space, Landlord shall advise Tenant (the "AdviceROFR ADVICE") of the terms under which Landlord is prepared to lease the applicable portion of the Refusal Space to such ROFR Prospect and Tenant may lease the applicable portion of the Refusal Space, under such terms, by providing Landlord with written notice of exercise (the "Notice of ExerciseROFR NOTICE OF EXERCISE") within 5 business days Business Days after the date of the Advice. In the event that another ROFR Advice is deemed to have been received by Tenant has superior rights to the Refusal Space (in accordance with Section 10.524 of the Lease), Landlord except that Tenant shall have the right to either: (i) send Tenant an Advice only after no such superior rights have lapsed or been rejected; or (ii) concurrently send an Advise to Tenant and the tenant with superior rights on the condition that Tenant's right to exercise its Right of First Refusal will be conditioned and contingent upon the lapse or rejection of all superior rights to lease the Refusal Space. Notwithstanding the foregoingLandlord need not provide Tenant with a ROFR Advice, Tenant shall only have a Right of Refusal if: