Common use of Notice of Availability and Tenant’s Exercise of Option Clause in Contracts

Notice of Availability and Tenant’s Exercise of Option. A. In the event that the Additional Space shall become or about to become available for leasing in accordance with the provisions of Section 40.01, Owner shall give notice thereof to Tenant (any such notice is referred to as an “Owner’s Availability Notice”), which Owner’s Availability Notice shall contain the date such Additional Space is expected to be vacant or available for leasing and which Owner’s Availability Notice shall be accompanied by a floor plan of the Additional Space unless it is a full floor. Owner’s Availability Notice may be given not more than twenty-four (24) months prior to the date set forth in such Owner’s Availability Notice upon which such Additional Space is expected to become vacant and available for leasing (the date set forth in Owner’s Availability Notice on which such Additional Space is expected to become available for leasing is sometimes referred to as an “Expected Vacancy Date”). Upon Owner giving Tenant an Owner’s Availability Notice, Tenant may exercise Tenant’s First Offer Right only by notice given to Owner within ten (10) days next following the date of the giving of such Owner’s Availability Notice, and by giving such notice Tenant shall thereby lease and add such Additional Space to the Demised Premises for a term to begin, subject to Section 40.03, on the Expected Vacancy Date; any notice given by Tenant to Owner exercising such Tenant’s First Offer Right is referred to as “Tenant’s First Offer Notice”. B. It is understood and agreed that “time is of the essence” with respect to Tenant’s exercise of its Tenant’s First Offer Right pursuant to this Article and that if Tenant does not exercise such Tenant’s First Offer Right within the ten (10) day time limitation set forth in Subsection A above, any notice purporting to exercise such Tenant’s First Offer Right given after the expiration of such time limitation shall be void and of no force and effect and Tenant shall have no further right to lease and add the Additional Space to the Demised Premises. C. If Tenant exercises Tenant’s First Offer Right in accordance with the provisions of this Article 40, then the Additional Space shall be leased by Tenant and added to the Demised Premises upon all of the then executory terms, covenants and conditions as are contained in this Lease, except as otherwise set forth herein, adjusted to reflect (x) the number of rentable square feet contained in the Additional Space, and (y) that the term applicable to the Additional Space in question shall, commence on the Expected Vacancy Date (provided Owner delivers possession on such date), as the same may be accelerated or delayed pursuant to the provisions of Section 40.03.

Notice of Availability and Tenant’s Exercise of Option. A. In the event that the Additional Space shall become or about to become available for leasing in accordance with the provisions of Section 40.01, Owner shall give notice thereof to Tenant (any such notice is referred to as an “"Owner’s 's Availability Notice”"), which Owner’s 's Availability Notice shall contain the date such the Additional Space is expected to be vacant or available for leasing and which Owner’s Availability Notice shall be accompanied by a floor plan of the Additional Space unless it is a full floor. Owner’s 's Availability Notice may be given not more than twenty-four eighteen (2418) months prior to the date set forth in such Owner’s Availability Notice upon which such the Additional Space is expected to become vacant and available for leasing (the date set forth in Owner’s 's Availability Notice on which such the Additional Space is expected to become available for leasing is sometimes referred to as an “"Expected Vacancy Date”"). Upon Owner giving Tenant an Owner’s 's Availability Notice, Tenant may exercise Tenant’s 's First Offer Right only by notice given to Owner within ten (10) business days next following the date of the giving of such Owner’s 's Availability Notice, and by giving such notice Tenant shall thereby lease and add such the Additional Space to the Demised Premises for a term to begin, subject to Section 40.03, on the Expected Vacancy Date; any notice given by Tenant to Owner exercising such Tenant’s 's First Offer Right is referred to as “"Tenant’s 's First Offer Notice”". B. It is understood and agreed that “time is of the essence” essence with respect to Tenant’s 's exercise of its Tenant’s 's First Offer Right pursuant to this Article and that if Tenant does not exercise such Tenant’s 's First Offer Right within the ten (10) business day time limitation set forth in Subsection A above, any notice purporting to exercise such Tenant’s 's First Offer Right given after the expiration of such time limitation shall be void and of no force and effect and Tenant shall have no further right to lease and add the Additional Space to the Demised Premises. C. If Tenant exercises Tenant’s 's First Offer Right in accordance with the provisions of this Article 40, then the Additional Space shall be leased by Tenant and added to the Demised Premises upon all of the then executory terms, covenants and conditions as are contained in this Lease, except as otherwise set forth herein, adjusted to reflect (x) the number of rentable square feet contained in the Additional Space, and (y) that the term applicable to the Additional Space in question shall, commence on the Expected Vacancy Date (provided Owner delivers possession on such date)Date, as the same may be accelerated or delayed pursuant to the provisions of Section 40.03. In addition, Tenant's payments pursuant to Section 23.04 shall be increased to also take into account the increase in Fixed Rent payable during any Escalation Year by reason of the leasing of the Additional Space (other than that portion attributable to the Electrical Inclusion Factor).

Notice of Availability and Tenant’s Exercise of Option. A. In the event that the Additional Space shall become or about to become available for leasing in accordance with the provisions of Section 40.0121.1, Owner Landlord shall give notice thereof to Tenant (any such notice is referred to as an “Owner’s "Landlord Availability Notice”"), which Owner’s Landlord's Availability Notice shall contain (i) the date such Additional Space is expected to be vacant or available for leasing leasing; (ii) the Minimum Rent and other material financial terms upon which Owner’s Availability Notice shall be accompanied by a floor plan of Landlord is willing to Lease the Additional Space unless it is a full floorto Tenant. Owner’s Landlord's Availability Notice may be given not more than twenty-four eighteen (2418) months prior to the date set forth in such Owner’s Landlord's Availability Notice upon which such Additional Space is expected to become vacant and available for leasing (the date set forth in Owner’s Landlord's Availability Notice on which such Additional Space is expected to become available for leasing is sometimes referred to as an “"Expected Vacancy Date”"). Upon Owner Landlord giving Tenant an Owner’s a Landlord's Availability Notice, Tenant may exercise Tenant’s 's First Offer Right with respect to the entire Additional Space only and only by notice given to Owner Landlord within ten twenty (1020) days next following the date of the giving of such Owner’s Landlord's Availability Notice, and by giving such notice Tenant shall thereby lease and add such Additional Space to the Demised Premises for a term to begin, subject to Section 40.0329.3, on the Expected Vacancy DateDate for a term co-terminous with the Lease Term for the Demised Premises; any notice given by Tenant to Owner Landlord exercising such Tenant’s 's First Offer Right is referred to as “"Tenant’s 's First Offer Notice”". B. It is understood and agreed that “"time is of the essence” " with respect to Tenant’s 's exercise of its Tenant’s 's First Offer Right pursuant to this Article and that if Tenant does not exercise such Tenant’s 's First Offer Right within the ten twenty (1020) day time limitation set forth in Subsection A above, (i) any notice purporting to exercise such Tenant’s 's First Offer Right given after the expiration of such time limitation shall be void and of no force and effect and effect, (ii) Tenant shall have no further right to lease and add the Additional Space, and (iii) Tenant shall have no further rights under this Article 29. Notwithstanding the foregoing, in the event Landlord offers to lease the Available Space to another party on monetary terms that differ by more than I 0% from those terms set forth in Landlord's Availability Notice, Landlord shall again offer the Demised PremisesAvailable Space to Tenant in accordance with the terms of this Article 29. C. If Tenant exercises Tenant’s 's First Offer Right in accordance with the provisions of this Article 4029, then the Additional Space shall be leased by Tenant and added to the Demised Premises upon all of the then executory terms, covenants and conditions as are contained in this Lease, except as otherwise set forth herein, and adjusted to reflect (xw) the number of rentable square feet contained in the Additional Space, and (yx) that the term applicable to the Additional Space in question shall, commence on the Expected Vacancy Date (provided Owner delivers possession on such date)Date, as the same may be accelerated or delayed pursuant to the provisions of Section 40.0329.3, and (y) as otherwise provided in Section 29.4.

Notice of Availability and Tenant’s Exercise of Option. A. In the event that the Additional Space shall become or about to become available for leasing in accordance with the provisions of Section 40.01, Owner shall give notice thereof to Tenant (any such notice is referred to as an “"Owner’s 's Availability Notice”"), which Owner’s 's Availability Notice shall contain the date such Additional Space is expected to be vacant or available for leasing and which Owner’s Availability Notice shall be accompanied by a floor plan of the Additional Space unless it is a full floor. Owner’s 's Availability Notice may be given not more than twenty-four (24) months prior to the date set forth in such Owner’s Availability Notice upon which such Additional Space is expected to become vacant and available for leasing (the date set forth in Owner’s 's Availability Notice on which such Additional Space is expected to become available for leasing is sometimes referred to as an “"Expected Vacancy Date”"). Upon Owner giving Tenant an Owner’s 's Availability Notice, Tenant may exercise Tenant’s 's First Offer Right only by notice given to Owner within ten (10) days next following the date of the giving of such Owner’s 's Availability Notice, and by giving such notice Tenant shall thereby lease and add such Additional Space to the Demised Premises for a term to begin, subject to Section 40.03, on the Expected Vacancy Date; any notice given by Tenant to Owner exercising such Tenant’s 's First Offer Right is referred to as “"Tenant’s 's First Offer Notice”". B. It is understood and agreed that “"time is of the essence” " with respect to Tenant’s 's exercise of its Tenant’s 's First Offer Right pursuant to this Article and that if Tenant does not exercise such Tenant’s 's First Offer Right within the ten (10) day time limitation set forth in Subsection A above, any notice purporting to exercise such Tenant’s 's First Offer Right given after the expiration of such time limitation shall be void and of no force and effect and Tenant shall have no further right to lease and add the any Additional Space to the Demised Premises. C. If Tenant exercises Tenant’s 's First Offer Right in accordance with the provisions of this Article 40, then the Additional Space shall be leased by Tenant and added to the Demised Premises upon all of the then executory terms, covenants and conditions as are contained in this Lease, except as otherwise set forth herein, adjusted to reflect (x) the number of rentable square feet contained in the applicable Additional Space, and (y) that the term applicable to the Additional Space in question shall, commence on the Expected Vacancy Date (provided Owner delivers possession on such date)Date, as the same may be accelerated or delayed pursuant to the provisions of Section 40.03.

Notice of Availability and Tenant’s Exercise of Option. A. In X.Xx the event that the Additional Space shall become or about to become available for leasing in accordance with the provisions of Section 40.01, Owner shall give notice thereof to Tenant (any such notice is referred to as an “Owner’s Availability Notice”), which Owner’s Availability Notice shall contain the date such Additional Space is expected to be vacant or available for leasing and which Owner’s Availability Notice shall be accompanied by a floor plan of the Additional Space unless it is a full floor. Owner’s Availability Notice may be given not more than twenty-four eighteen (2418) and no less than two (2) months prior to the date set forth in such Owner’s Availability Notice upon which such Additional Space is expected to become vacant and available for leasing (the date set forth in Owner’s Availability Notice on which such Additional Space is expected to become available for leasing is sometimes referred to as an “Expected Vacancy Date”). Upon Owner giving Tenant an Owner’s Availability Notice, Tenant may exercise Tenant’s First Offer Right only by notice given to Owner within ten fifteen (1015) days next following the date of the giving of such Owner’s Availability Notice, and by giving such notice Tenant shall thereby lease and add such Additional Space to the Demised Premises for a term to begin, subject to Section 40.03, on the Expected Vacancy Date; any notice given by Tenant to Owner exercising such Tenant’s First Offer Right is referred to as “Tenant’s First Offer Notice”. B. It is understood and agreed that “time is of the essence” with respect to Tenant’s exercise of its Tenant’s First Offer Right pursuant to this Article and that if Tenant does not exercise such Tenant’s First Offer Right within the ten (10) day time limitation set forth in Subsection A above, any notice purporting to exercise such Tenant’s First Offer Right given after the expiration of such time limitation shall be void and of no force and effect and Tenant shall have no further right to lease and add the Additional Space to the Demised Premises. C. If Tenant exercises Tenant’s First Offer Right in accordance with the provisions of this Article 40, then the Additional Space shall be leased by Tenant and added to the Demised Premises upon all of the then executory terms, covenants and conditions as are contained in this Lease, except as otherwise set forth herein, adjusted to reflect (x) the number of rentable square feet contained in the Additional Space, and (y) that the term applicable to the Additional Space in question shall, commence on the Expected Vacancy Date (provided Owner delivers possession on such date), as the same may be accelerated or delayed pursuant to the provisions of Section 40.03..