Common use of Landlord’s Right to Lease Clause in Contracts

Landlord’s Right to Lease. If Tenant does not indicate in writing its election to lease the Offered Space within the time period described in subparagraph (d), above, Landlord thereafter shall have the right to lease the Offered Space, provided: (i) a valid lease is executed by Landlord with a third party tenant within one hundred eighty (180) days after delivery of Tenant’s election not to exercise its Right of First Offer (or, the expiration of Tenant’s election period if no notice is delivered by Tenant under subparagraph (d)); and (ii) the lease of the Offered Space is at a rental rate of not less than ninety-two and 1⁄2 percent (92.5%) of the rental rate specified in the Basic Business Terms for a lease term and on other terms at least as favorable (to a landlord) as the other Basic Business Terms set forth in Landlord’s Notice; it being agreed that Landlord shall be allowed to reduce the rental rate in consideration of a decreased TI allowance, and to increase the TI allowance in consideration of an increased rental rate (a “Complying Lease”). If Landlord enters into a Complying Lease of all or a portion of the Offered Space, such Offered Space covered by the Complying Lease shall no longer be subject to the Right of First Offer. Any lease of the Offered Space not meeting the criteria of the prior sentence shall be deemed a new determination by Landlord to lease the Offered Space and may not be consummated unless Tenant is again offered the right to lease such Offered Space in accordance with the provisions of this Right of First Offer; provided, however, that the time period for Tenant to respond to a subsequent Landlord’s Notice for Offered Space, which was previously offered to, but not leased by, Tenant, shall be reduced from the thirty (30) calendar day period specified in subparagraph (d), above, to a ten (10) business day period following Tenant’s receipt of the subsequent Landlord’s Notice.

Landlord’s Right to Lease. If Tenant does not indicate Notwithstanding anything set forth in writing its election Section 29.15 to lease the Offered Space within the time period described in subparagraph (d), abovecontrary, Landlord thereafter shall have agrees, during any time that the right to lease the Offered Space, provided: Original Tenant is (i) a valid lease is executed by Landlord with a third party tenant within one hundred eighty (180) days after delivery not in default under the terms of Tenant’s election not to exercise its Right of First Offer (orthe Lease, the expiration of Tenant’s election period if no notice is delivered by Tenant under subparagraph (d)); as amended, and (ii) the lease of the Offered Space is continuously operating its business from at a rental rate of not less than ninety-two and 1⁄2 least seventy percent (92.570%) of the rental rate specified Premises, Landlord shall not enter into a lease for space in the Basic Business Terms for a lease term and on other terms at least as favorable Project with (to a landlordi) as Spirent Communications, (ii) JDS Uniphase, (iii) Gigamon, (iv) Breaking Point, or (v) Aeroflex (collectively, the other Basic Business Terms set forth in Landlord’s Notice; it being agreed that Landlord shall be allowed to reduce the rental rate in consideration of a decreased TI allowance, and to increase the TI allowance in consideration of an increased rental rate (a “Complying LeaseRestricted Tenants”). If Landlord enters into a Complying Lease of all or a portion of the Offered Space, such Offered Space covered by the Complying Lease shall no longer be subject to the Right of First Offer. Any lease of the Offered Space not meeting the criteria of the prior sentence shall be deemed a new determination by Landlord to lease the Offered Space and may not be consummated unless Tenant is again offered the right to lease such Offered Space in accordance with the provisions of this Right of First Offer; provided, however, in no event shall Landlord be deemed to be in breach of this Section 13 if any tenant in the Project is acquired by or otherwise merges with a Restricted Tenant after the date of such tenant’s lease. In the event Landlord breaches the terms of this Section 13, the terms of Section 19.6 of the Original Lease shall be applicable to such breach. If Tenant fails to continuously operate its business from within at least seventy percent (70%) the Premises for more than six (6) months (except that any period required to (x) repair or restore the time period for Premises following damage by casualty or condemnation or (y) periodically remodel or renovate the Premises shall not be taken into account in calculating such 6-month period), or if the restriction set forth in this Section 13 is deemed to be in violation of Applicable Law, then the leasing restrictions set forth in this Section 13 will automatically terminate. Tenant to respond to a subsequent does hereby indemnify, defend and hold Landlord harmless from any claim, cost, loss or damage (including reasonable attorneys’ fees) incurred or alleged against Landlord by any person, firm, corporation or other entity whatsoever by reason of Landlord’s Notice for Offered Spacecompliance, which was previously offered toor attempted compliance, but not leased bywith this Section 13, and in the event Landlord is made subject to any action, proceeding or penalty with respect to the provisions of this Section 13, Tenant will indemnify, defend and hold Landlord harmless from any cost, loss, claim or expense in respect thereto with counsel approved by Landlord, the actual out-of-pocket costs of such indemnification and defense (including reasonable attorneys” fees) to be paid entirely by Tenant, shall be reduced from the thirty (30) calendar day period specified in subparagraph (d), above, to a ten (10) business day period following Tenant’s receipt of the subsequent Landlord’s Notice.