Initial Right to Negotiate Clause Samples

Initial Right to Negotiate. As of the date hereof, the space on the 1st and 2nd floors of the 4430 Building is vacant and available for Lease (the "Available Space"). Tenant shall have the right, at any time after the date hereof, to inform Landlord that Tenant is interested in leasing all or any portion of such space (the "Tenant Interest Notice"). Landlord agrees that following Landlord's receipt of a Tenant Interest Notice, Landlord will negotiate with Tenant in good faith to determine whether Landlord is willing, in Landlord's reasonable business judgment exercised in Landlord's sole discretion, to lease all or any portion of such space to Tenant as provided herein. If Landlord and Tenant reach an agreement, in each party's sole and absolute discretion, with respect to Tenant's lease of any such space, then the parties shall enter into an amendment to the Lease adding such space to the Premises on the terms and conditions as agreed by Landlord and Tenant. If Landlord agrees, and such agreement is made prior to the date that is twelve (12) months after the full execution of this Second Amendment (the "Early Expansion Date"), then the rent for such space (the "Expansion Rent") shall be as follows: (i) Tenant shall pay the Monthly Installment Rent for the First Offer Space at the same rate per rentable square foot payable by Tenant from time to time for the 4430 Expansion Premises, (ii) Tenant shall pay Tenant's Proportionate Share of Expenses, Taxes and Insurance Costs in accordance with the terms of the Lease applicable to the 4430 Expansion Premises, provided that Tenant's Proportionate Share with respect to the First Offer Space shall be calculated by dividing the rentable square footage of the First Offer Space by the rentable square footage of the 4430 Building, (iii) the commencement date of Tenant's lease of such Available Space shall be the date that is 180 days after Landlord and Tenant make such agreement, and (iv) the Tenant Improvement Allowance for such Available Space shall be equal to the Tenant Improvement Allowance payable with respect to the 4430 Expansion Premises prorated appropriately to take into account a lease term for such Available Space which is shorter in length than the 4430 Expansion Term hereunder. Tenant acknowledges that the foregoing shall not obligate Landlord to notify Tenant of any lease entered into by Landlord with respect to any Available Space, or to lease any Available Space to Tenant in a size or configuration, or on terms or conditions th...