Lease of First Offer Space. If Tenant timely exercises Tenant's right to lease the First Offer Space as set forth herein, Landlord and Tenant shall execute an amendment adding such First Offer Space to this Lease upon the same non-economic terms and conditions as applicable to the initial Premises, and the economic terms and conditions as provided in this Article 32. Tenant shall commence payment of rent for the First Offer Space and the Lease Term of the First Offer Space shall commence upon the date of delivery of such space to Tenant. The Lease Term for the First Offer Space shall expire co-terminously with Tenant's lease of the initial Premises.
Lease of First Offer Space. If Tenant timely exercises Tenant's right to lease the space described in the First Offer Notice as set forth herein, Landlord and Tenant shall execute an amendment adding such First Offer Space to this Lease upon the same non-economic terms and conditions as applicable to the initial Premises and the Economic Terms as provided in this Section 2.5.
Lease of First Offer Space. If Tenant timely exercises Tenant’s right of first offer to lease First Offer Space as set forth herein, Tenant shall within fifteen (15) days after receipt of Landlord’s first draft of an amendment accurately setting forth the Fundamental Terms and not containing any new material terms, enter an amendment to this Lease (the “First Offer Space Amendment”) for such First Offer Space pursuant to this Section 1.3. Tenant’s lease of such First Offer Space shall be upon the express terms set forth in the First Offer Notice, but otherwise upon the same general terms and conditions set forth in this Lease and this Section 1.3. The First Offer Space Lease shall not contain the rights set forth in Section 2.2, below, unless such rights were set forth in the First Offer Notice. The term of Tenant’s lease of the First Offer Space shall commence on the date set forth in the First Offer Notice (provided that such commencement date shall in no event be earlier than the date of Landlord’s delivery of the applicable First Offer Space to Tenant), and shall expire on the applicable date set forth in the First Offer Notice (the “First Offer Space Expiration Date”).
Lease of First Offer Space. If Tenant timely exercises Tenant's right to lease the First Offer Space as set forth herein, Landlord and Tenant shall execute an amendment adding such First Offer Space to this Lease upon the First Offer Economic Terms set forth in Landlord's First Offer Notice and upon the same non-economic terms and conditions as applicable to the Premises then leased by Tenant under this Lease. Unless otherwise provided in the First Offer Notice as part of the First Offer Economic Terms, Tenant shall commence payment of rent for the First Offer Space and the Lease Term of the First Offer Space shall commence upon the date of delivery of such space to Tenant. The Lease Term for the First Offer Space shall, unless otherwise provided in the First Offer Notice as part of the First Offer Economic Terms, expire coterminously with Tenant's lease of the original Premises.
Lease of First Offer Space. If Tenant timely exercises this First Offer Right as set forth herein, Tenant shall provide Landlord a non-refundable deposit, equivalent to twice the last month’s Base Rent for the First Offer Space, and the parties shall have thirty (30) days after Landlord receives Tenant’s Election Notice and deposit from Tenant in which to execute an amendment to the Lease adding such First Offer Space to the Leased Premises on all of the terms and conditions as applicable to the initial Leased Premises, as modified to reflect the terms and conditions as set forth in Landlord’s First Offer Notice. Upon full execution of an amendment for the First Offer Space, one half of the non-refundable deposit shall be credited toward Base Rent for the first complete month for which Rent shall be due therefore and the remaining portion shall be added to Tenant’s security deposit under the Lease (or if none exists, the same shall held as a security deposit under the Lease). Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its First Offer Right provided herein, if at all, with respect to all of the space offered by Landlord to Tenant in Landlord’s First Offer Notice, and Tenant may not elect to lease only a portion thereof.
Lease of First Offer Space. If Tenant timely exercises Tenant’s right to lease the First Offer Space as set forth herein, Landlord and Tenant shall execute an amendment to this Lease (the “First Offer Amendment”) for such First Offer Space upon the terms and conditions as set forth in the First Offer Notice therefor and this Section 1.4. The rentable square footage of any First Offer Space leased by Tenant shall be as set forth in the First Offer Notice which shall have been determined by Landlord in accordance with Landlord’s then current standard of measurement for the Building. Tenant shall commence payment of rent for the First Offer Space, and the term of the First Offer Space shall commence (the “First Offer Commencement Date”) on the date which is the earlier to occur of (i) the date Tenant first commences to conduct business in the First Offer Space, and (ii) the date that is one hundred twenty (120) days following the date Landlord delivers the First Offer Space to Tenant (such 120-day period to be referred to herein as the “Stipulated First Offer Build-Out Period”), and shall terminate on the date provided in the First Offer Notice as the end of the offered lease term. The foregoing Stipulated Build-Out Period shall (a) subject to mutually and reasonably agreed upon commercially reasonable terms to be set forth in the First Offer Amendment, be subject to extension on a day-for-day basis to the extent of any actual delays in the substantial completion of the tenant improvements in the First Offer Space resulting from “Force Majeure”, as defined in Section 29.16, below, and delays caused by Landlord, and (b) be a consideration in the determination of the First Offer Rent.
Lease of First Offer Space. If Tenant timely and properly exercises Tenant’s right to lease the First Offer Space as set forth herein, Landlord and Tenant shall execute an amendment adding such First Offer Space to this Lease upon the same non-economic terms and conditions as applicable to the initial Premises, and the economic terms and conditions as provided in this Section 1.4. Tenant’s Share shall be increased to take into account the addition of any such First Offer Space to the Premises and Tenant’s parking passes shall be increased (based on 2/1,000 rentable square feet in the First Offer Space), and parking passes shall be issued for reserved and unreserved spaces in the same ratio as provided initially in Section 12 of the Summary. Tenant shall commence payment of rent for the First Offer Space and the Term of the First Offer Space shall commence one hundred twenty (120) days after the date of delivery of such space to Tenant. The Lease Term for the First Offer Space shall be as provided in the Economic Terms; provided, however that the term of Tenant’s leasing of any First Offer Space based on Tenant’s exercise of its right of first offer during the first twenty-nine (29) months of the Lease Term shall be coterminous with the Term of this Lease. The First Offer Space shall be delivered to Tenant broom clean, emptied of all furniture and personal property of any prior occupant and with all electrical, plumbing and mechanical systems in good working order.
Lease of First Offer Space. If Tenant timely exercises Tenant’s right to lease the space described in the First Offer Notice as set forth herein, Landlord and Tenant shall, within thirty (30) days after Tenant’s response, either execute an amendment to this Lease incorporating into this Lease the Terms applicable to such space if the lease terms are co-terminous, or execute a new lease for such expansion space. The term, rental rate, rent increases, rent commencement, and all other economic terms and conditions applicable to such First Offer Space shall be set forth in the First Offer Notice. All other terms and conditions of the Lease shall apply to or be incorporated into the separate lease for the First Offer Space, as the case may be.
Lease of First Offer Space. If Lessee timely exercises Lessee's right to lease the First Offer Space as set forth herein, Lessor and Lessee shall execute an amendment adding such First Offer Space to this Lease upon the same non-economic terms and conditions as applicable to the initial Premises, and the Economic Terms and conditions (including the term as provided in the First Offer Notice or Revised First Offer Notice, as applicable). Lessee shall commence payment of rent for the First Offer Space and the Lease Term of the First Offer Space shall commence upon the date of delivery of such space to Lessee. In the event the Lessee exercises its right of first offer to lease the First Offer Space, then Lessor and Lessee agrees that the expiration dates of this Lease shall be extended to match the expiration of the Lease on the First Offer Space but Base Rent shall continue to increase by three percent (3%) on each anniversary of the Commencement Date throughout such extended term.
Lease of First Offer Space. If Tenant timely exercises Tenant’s right to lease the First Offer Space as set forth herein, Landlord and Tenant shall execute an amendment that is acceptable to Landlord and Tenant in the exercise of their commercially reasonable judgment adding such First Offer Space to this Lease upon the same non-economic terms and conditions as applicable to the initial Premises, and the Economic Terms and conditions as provided in this Section 1.6. Tenant shall commence payment of Rent for the First Offer Space and the Lease Term of the First Offer Space shall commence upon the date (“First Offer Commencement Date”) which is the earlier of (i) the expiration of a reasonable build-out period determined as a component of the Economic Terms, and (ii) the date that Tenant, or any person occupying any of the First Offer Space with Tenant’s permission, commences business operations from the First Offer Space, subject to any appropriate modification with respect to such Warner Center III\Health Net\JS\December 22, 2003 commencement of Rent as determined as part of the Economic Terms. The Lease Term for the First Offer Space shall expire on the Lease Expiration Date, subject to extension as provided in Section 2.2 of this Lease, co-terminously with Xxxxxx’s lease of the initial Premises.
