Offer Space. If at any time during the Expansion Term, all or any portion of Suite 602 comprising an agreed upon 4,021 rentable square feet, or the hallway to be converted by Landlord to 490 rentable square feet (both as shown on Exhibit A), becomes “available for lease” (i.e., Landlord desires to actively market such space), Landlord shall give Tenant written notice (“Sixth Floor Offer Space Notice”) of such event. Such notice shall identify the location, configuration and size of the space (“Sixth Floor Offer Space”). The applicable business terms under which Landlord will lease such space (such as duration, commencement date, concessions, base rent, and additional rent), shall be the same terms applicable to the Expansion Premises as set forth in this Amendment. Within ten (10) business days after the date that any Sixth Floor Offer Space Notice is given to Tenant, Tenant shall give Landlord written notice (“Sixth Floor Offer Space Acceptance Notice”) of its election to lease such Sixth Floor Offer Space and the parties shall thereafter execute an amendment to the Lease incorporating such Sixth Floor Offer Space as part of the Total Premises. Space shall not be considered “available for lease” if it is leased by another tenant. Notwithstanding the foregoing, Landlord shall keep Tenant apprised as to the status of all of the Sixth Floor Offer Space so that Tenant has advance notice as to when all or any portion of the Sixth Floor Offer Space becomes “available for lease.”
Appears in 1 contract
Samples: Center Office Lease Agreement (Norwegian Cruise Line Holdings Ltd.)
Offer Space. If at the arbitrator believes that expert advice would materially assist him, he may retain one or more qualified persons, provided they have had no dealings with Landlord or Tenant within the immediately preceding 12 month period, to provide such expert advice. The parties shall share equally in the costs of the arbitrator and of any time during experts reasonably retained by the Expansion Termarbitrator. Any fees of any appraiser, all counsel or any portion of Suite 602 comprising an agreed upon 4,021 rentable square feet, or the hallway to be converted experts engaged directly by Landlord to 490 rentable square feet (both as shown on Exhibit A)or Tenant, becomes “available for lease” (i.e., Landlord desires to actively market such space), Landlord shall give Tenant written notice (“Sixth Floor Offer Space Notice”) of such event. Such notice shall identify the location, configuration and size of the space (“Sixth Floor Offer Space”). The applicable business terms under which Landlord will lease such space (such as duration, commencement date, concessions, base rent, and additional rent)however, shall be borne by the same party retaining such appraiser, counsel or expert. In the event that the Prevailing Market for First Offer Space has not been determined by the commencement date of Tenant's lease of the applicable First Offer Space, Tenant shall pay Rent upon the terms applicable and conditions in effect for the initial Premises until such time as the Prevailing Market for First Offer Space has been determined. Upon such determination, the Base Rent for the First Offer Space shall be retroactively adjusted, if necessary, to the Expansion Premises as commencement of EXHIBIT E -9- Tenant's lease of the applicable First Offer Space, using the formula set forth in this Amendmentthe first sentence of Section II.D above. Within ten (10) business days after the date that any Sixth Floor Offer Space Notice is given to If such adjustment results in an underpayment of Base Rent by Tenant, Tenant shall give pay Landlord written notice (“Sixth Floor Offer Space Acceptance Notice”) the amount of its election to lease such Sixth Floor Offer Space and underpayment within 30 days after the parties determination thereof. If such adjustment results in an overpayment of Base Rent by Tenant, Landlord shall thereafter execute an amendment credit such overpayment against the next installment of Base Rent due under the Lease and, to the Lease incorporating extent necessary, any subsequent installments until the entire amount of such Sixth Floor Offer Space as overpayment has been credited against Base Rent, or at Tenant's election, reimburse Tenant within 30 days. EXHIBIT E -10- EXHIBIT F PARKING AGREEMENT This Exhibit (the "Parking Agreement") is attached to and made a part of the Total Premises. Space shall not be considered “available Lease by and between [[LANDLORD'S NAME AND ENTITY TYPE TO BE PROVIDED]] ("Landlord") and INKTOMI CORPORATION, A DELAWARE CORPORATION ("Tenant") for lease” if it is leased by another tenant. Notwithstanding space in the foregoing, Landlord shall keep Tenant apprised as to the status of all of the Sixth Floor Offer Space so that Tenant has advance notice as to when all or any portion of the Sixth Floor Offer Space becomes “available for leaseBuilding located at Bayside Towers.”
Appears in 1 contract
Offer Space. 42.01. If at any time during the Expansion Termterm of this Lease any Offer Space shall become “available” (as such term is hereinafter defined) and the Offer Notice for such Offer Space is delivered no later than February 1, all 2023, then provided that (x) as of the date of Tenant’s OS Notice, Tenant is not then in monetary default or any portion material non-monetary under this Lease beyond applicable notice and cure periods, and (y) as of Suite 602 comprising an agreed upon 4,021 the date of Tenant’s OS Notice, Tenant and/or its Permitted Transferees are in occupancy of not less than eighty five (85%) percent of the rentable square feet, or footage of the hallway to be converted demised premises then leased by Landlord to 490 rentable square feet Tenant (both as shown on Exhibit A), becomes the “available for lease” (i.e., Landlord desires to actively market such spaceOffer Space Occupancy Test”), Landlord shall give Tenant written notice (an “Sixth Floor Offer Notice”), specifying (a) the location and rentable square footage of such Offer Space, (b) the condition in which such Offer Space Noticeshall be delivered to Tenant, (c) Landlord’s proposed determination of the annual fair market rental value for such Offer Space (“Landlord’s Offer Determination”), (d) the date or estimated date that such offer space will be delivered to Tenant in the condition required by this Lease (the “Anticipated OS Inclusion Date”) and (e) any other relevant terms being offered by Landlord with respect to such space. The foregoing right of such eventTenant is hereinafter referred to as the “Tenant’s Right of First Offer”. Such In addition, provided Tenant is not then in monetary default or material non-monetary under this Lease beyond applicable notice shall identify and cure periods, Landlord shall, within the locationfirst sixty (60) days following the beginning of each calendar year, configuration and size deliver to Tenant a notice listing all Offer Space that has become “available” since the delivery of the space immediately preceding Offer Notice or Landlord reasonably anticipates will become “available” within the following twelve (“Sixth Floor 12) month period. Each such annual notice by Landlord shall constitute an Offer Space”). The applicable business terms under which Landlord will lease such space Notice and include the information described in clauses (such as duration, commencement date, concessions, base renta) through (e) above, and additional rent), Tenant’s Right of First Offer with respect to any Offer Space identified in such Offer Notice shall be subject to Tenant’s satisfaction of the same terms applicable to the Expansion Premises as conditions set forth in this AmendmentSection 42.01. Within ten No Offer Notice may be sent to Tenant more than eighteen (1018) business days after the date that any Sixth Floor Offer Space Notice is given to Tenant, Tenant shall give Landlord written notice (“Sixth Floor Offer Space Acceptance Notice”) of its election to lease such Sixth Floor Offer Space and the parties shall thereafter execute an amendment to the Lease incorporating such Sixth Floor Offer Space as part months in advance of the Total Premises. Space shall not be considered “available for lease” if it is leased by another tenant. Notwithstanding the foregoing, Landlord shall keep Tenant apprised as to the status of all of the Sixth Floor Offer Space so that Tenant has advance notice as to when all or any portion of the Sixth Floor Offer Space becomes “available for leaseAnticipated OS Inclusion Date.”
Appears in 1 contract
Offer Space. If at Subject to the rights of "first offer" or "first refusal" of other existing tenants in the Building, Landlord agrees that if any time space on floors 3-15 and/or 29-41 in the Building (including lobby space and retail space) becomes available for lease after May 1, 2002, but during the Expansion Term, all or any portion of Suite 602 comprising an agreed upon 4,021 rentable square feet, or such available space (the hallway to be converted by Landlord to 490 rentable square feet (both as shown on Exhibit A"First Offer Space"), becomes “available the following will apply: (a) Prior to entering into a lease with any third party for lease” (i.e., Landlord desires to actively market such space), Landlord shall give Tenant written notice (“Sixth Floor Offer Space Notice”) of such event. Such notice shall identify the location, configuration and size of the space (“Sixth Floor Offer Space”). The applicable business terms under which Landlord will lease such space (such as duration, commencement date, concessions, base rent, and additional rent), shall be the same terms applicable to the Expansion Premises as set forth in this Amendment. Within ten (10) business days after the date that any Sixth Floor Offer Space Notice is given to Tenant, Tenant shall give Landlord written notice (“Sixth Floor Offer Space Acceptance Notice”) of its election to lease such Sixth Floor Offer Space and the parties shall thereafter execute an amendment to the Lease incorporating such Sixth Floor Offer Space as part of the Total Premises. Space shall not be considered “available for lease” if it is leased by another tenant. Notwithstanding the foregoing, Landlord shall keep Tenant apprised as to the status of all of the Sixth Floor Offer Space so that Tenant has advance notice as to when all or any portion of the Sixth Floor First Offer Space, Landlord shall give Tenant notice (the "Notice") of its interest in commencing negotiations to lease such First Offer Space to a prospective tenant. The Notice shall designate the First Offer Space; the Rent Landlord proposes to charge therefor (which Rent shall be at fair market value, as determined by Landlord based on its then offered Rent for a lease for comparable space, terms and concessions); and any other material business terms, including, without limitation, any proposed tenant improvement allowance, and, in the case of lobby or retail space, the proposed use. Tenant shall have 10 business days after receipt of the Notice to lease such First Offer Space on the terms and conditions and at the Rent set forth in the Notice; otherwise, Tenant’s rights with respect to such First Offer Space shall terminate. Tenant’s right of First Offer shall be restored in the event Landlord does not consummate a lease transaction with a third party or, if Landlord does enter into such a lease transaction, the space subsequently becomes “available during the term of this Lease. (b) If Tenant leases the First Offer Space, the First Offer Space shall become part of the Premises and Tenant agrees to commence paying Rent for such First Offer Space at the rate set forth in the Notice on the date of delivery thereof to Tenant and such First Offer Space shall be leased to Tenant for the remaining unexpired term of this Lease upon the same terms and conditions as provided herein (with the exception of the Rent therefor, which will be as set forth in the Notice). 30.2 First Refusal Space. If Landlord receives a bona fide written proposal or term sheet (a "Proposal") which it is prepared to accept as the basis for negotiating a lease of space in the lobby and/or retail area on the first floor of the Building, and the Proposal permits or may permit use of the space for retail financial services (other than retail banking), such as sale of mutual funds, securities, or insurance products, Landlord shall so notify Tenant. Such notice shall include a copy of the Proposal. Tenant shall have five business days from receipt of a Proposal within which to notify Landlord that it wishes to lease the space in question on the terms and conditions of the Proposal, and, if it does so, Landlord and Tenant will promptly and diligently negotiate and sign a lease based upon the Proposal. If Tenant declines the Proposal, or fails to respond, Landlord may enter into a lease with the party which submitted the Proposal, but any such lease shall be on substantially the terms contained in the Proposal. If Landlord has not consummated a lease pursuant to the Proposal within 90 days after Tenant’s rejection, or if it wishes to vary the basic economic terms in any material way, Tenant’s right of first refusal shall be automatically reinstated with respect to the space in question. If Landlord enters into a lease with a third party, and the space subsequently becomes vacant and available for lease.”, Tenant’s right of first refusal shall once again apply. Notwithstanding Article 14, Tenant may sublet any space it leases pursuant to this paragraph to any party on such terms as it deems acceptable, without sharing any Profit with Landlord; provided, however, any proposed sublease shall be subject to Landlord’s reasonable approval, which shall be given or withheld based upon Landlord’s judgment as to whether the nature and character of the business of the proposed subtenant are suitable for the lobby of the Building. Landlord may withhold such approval if the proposed subtenant will compete with any then existing business conducted by another tenant in the lobby or retail area on the first floor or in Two Commerce Square. 30.3
Appears in 1 contract
Samples: Office Lease (Lincoln National Corp)
Offer Space. If at any time during the Expansion Term, all or any portion of Suite 602 comprising an agreed upon 4,021 rentable square feet, or the hallway to be converted by Landlord to 490 rentable square feet (both as shown on Exhibit A), becomes “available for lease” (i.e., Landlord desires to actively market such space), Landlord shall give Tenant written notice (“Sixth Floor Offer Space Notice”) of such event. Such notice shall identify the location, configuration and size of the space (“Sixth Floor Offer Space”). The applicable business terms under which Landlord will lease such space (such as duration, commencement date, concessions, base rent, and additional rent), shall be the same terms applicable Subject to the Expansion Premises as conditions set forth in ----------------- this Amendment. Within ten Paragraph 10, and the current rights and options of other tenants of the Building and their respective assignees to lease the "First Offer Space" (10) business days after the date that any Sixth Floor Offer Space Notice is given to Tenantas herein defined), Tenant shall give Landlord written notice (“Sixth Floor Offer Space Acceptance Notice”) have a right of its election first offer to lease such Sixth Floor Offer Space and the parties shall thereafter execute an amendment to the Lease incorporating such Sixth Floor Offer Space as part of the Total Premises. Space shall not be considered “available for lease” if it is leased by another tenant. Notwithstanding the foregoing, Landlord shall keep Tenant apprised as to the status of all of the Sixth Floor Offer Space so that Tenant has advance notice as to when all or any portion of the Sixth Floor Building not being leased to Tenant hereunder (not including the Expansion Space, the leasing of which shall be governed by the terms and conditions contained in Paragraph 2 above), in the event any such space becomes available for lease to third parties during the term of the Lease (any such space that becomes available for lease to third parties during the term of the Lease is herein referred to as "First Offer Space"). Prior to leasing any First Offer Space becomes “to a third party, Landlord will give notice to Tenant (an "Offering Notice") specifying (i) the Basic Monthly Rental which Landlord proposes to charge for the First Offer Space, which Basic Monthly Rental shall equal the greater of (A) Landlord's good faith estimate of the fair market rental value for the First Offer Space, or (B) the Basic Monthly Rental (on a per square foot basis) then payable for the Premises, (ii) the approximate date upon which the First Offer Space is anticipated to be available for delivery, and (iii) any other material conditions or provisions relating to the leasing of the First Offer Space which vary from the provisions of the Lease. If Tenant wishes to lease the First Offer Space on the terms specified by Landlord in the Offering Notice, Tenant shall so notify Landlord in writing within five (5) business days after receipt thereof, which notice shall be unconditional and irrevocable. Tenant may exercise its right of first offer only with respect to all of the First Offer Space identified in the Offering Notice, and only if Tenant intends to occupy such First Offer Space in connection with its own reasonably foreseeable needs. Tenant acknowledges that space within the Building shall not be "available for lease" for purposes hereof so long as Landlord is negotiating a lease extension with an existing tenant thereof, whether or not pursuant to an extension option, and nothing contained in this Paragraph 10 shall be deemed to impose any obligation on Landlord to refrain from negotiating with the existing tenants of space within the Building.”
Appears in 1 contract
Samples: Lease (Micromuse Inc)
Offer Space. If at any time during the Expansion Term, all or any portion of Suite 602 comprising an agreed upon 4,021 rentable square feet, or the hallway to be converted by Landlord to 490 rentable square feet (both as shown on Exhibit A), becomes “available for lease” (i.e., Landlord Tenant desires to actively market such space), Landlord shall give Tenant written notice discuss expanding the then-existing Premises by taking additional space on or between the third (“Sixth Floor Offer Space Notice”3rd) of such event. Such notice shall identify the location, configuration and size sixteenth (16th) floors of the space Building (for such purposes, an “Sixth Floor Offer Space”), then Tenant may notify Landlord in writing of such desire (an “Expansion Notice”), including Tenant’s estimate of how much Rentable Square Footage it desires to potentially lease (the “Offer Space Size Estimate”), and, in such event, Landlord and Tenant shall meet in good faith as soon as reasonably possible to discuss such desire of Tenant (an “Expansion Meeting”); provided, that, notwithstanding anything to the contrary contained herein, no more than one (1) Expansion Notice shall be delivered by Tenant in any calendar year and no more than one (1) Expansion Meeting shall take place in any calendar year. At the Expansion Meeting, Landlord shall notify Tenant of any Offer Space falling in the approximate range of the Offer Space Size Estimate that Landlord in good faith expects to become available to lease during the next twelve (12) months (without limiting the generality of the foregoing, the parties specifically acknowledge and agree that any Offer Space that is then the subject of bona-fide, ongoing negotiations between Landlord and any third party (i.e., as evidenced by an agreed-upon and then-applicable letter of intent or then-applicable lease negotiations) shall not be deemed available for such purposes), and, at any time within ten (10) days following the date of the Expansion Meeting, Tenant may deliver in writing to Landlord a request (a “Delivery Request”) that Landlord deliver to Tenant an Offer Notice (as defined below) with respect to any such Offer Space. The applicable business terms under which parties specifically acknowledge and agree that only a Delivery Request delivered by Tenant to Landlord will lease such space (such as duration, commencement date, concessions, base rentin writing in strict accordance with the foregoing shall be deemed valid, and additional rentthat any other attempt at a Delivery Request shall be deemed void and without force or effect. The parties specifically acknowledge and agree that Tenant’s rights under this Article 55 shall be subject and subordinate to any rights of other tenants and occupants existing as of the Lease Date, and the right of Landlord to extend or renew the lease or other occupancy agreement of any tenant or other occupant of any Offer Space or to enter into a new lease or other occupancy agreement with such tenant or other occupant in lieu of an extension or renewal, regardless of whether or not such tenant or other occupant has any current right to extend or renew. If Tenant makes any Delivery Request within the foregoing ten (10) day period after the date of an Expansion Meeting (the parties specifically acknowledge and agree that Landlord shall have no obligation under this Article 55 with respect to any other request made by Tenant at any other time), Landlord shall, as soon as reasonably possible in accordance with the terms herein, prior to offering the same to any other party (other than the then-current tenant or other occupant therein), first offer (the “Right of First Offer,” which shall be an ongoing right in accordance with, and subject to, the same terms applicable of this Article 55) to lease to Tenant all, and not less than all, of any such Offer Space; such offer shall be in writing and shall specify the Expansion Premises lease terms for the Offer Space, including, without limitation, Landlord’s good faith determination of the “ROFO Fair Market Rental Value” (as set forth in this Amendmentdefined below), the date on which the Offer Space shall be included as part of the Premises, and whether Landlord believes a letter of credit or circumstances that could affect Landlord’s expected date of delivery of possession of the Offer Space to Tenant are part of the determination of the ROFO Fair Market Rental Value (the “Offer Notice”). Within ten (10) business days after Landlord delivers to Tenant the date that any Sixth Floor Offer Space Notice is given to TenantNotice, Tenant shall give notify Landlord written notice in writing (the “Sixth Floor Offer Space Acceptance Election Notice”) of its election whether Tenant elects to lease such Sixth Floor the entire Offer Space on the terms set forth in the Offer Notice. Tenant’s failure to deliver any Election Notice within such ten (10) day period shall be deemed Tenant’s election not to exercise the Right of First Offer for the Offer Space at hand, and Tenant’s failure to object in the Election Notice to Landlord’s determination of the ROFO Fair Market Rental Value shall be deemed Tenant’s acceptance of Landlord’s determination of the ROFO Fair Market Rental Value. If, however, Tenant delivers the Election Notice but as part of such Election Notice rejects Landlord’s determination of the ROFO Fair Market Rental Value, Tenant shall submit in the Election Notice Tenant’s determination of the ROFO Fair Market Rental Value. Landlord and Tenant shall thereafter negotiate in good faith to agree upon the ROFO Fair Market Rental Value within ten (10) days following Landlord’s receipt of Tenant’s determination of the ROFO Fair Market Rental Value (the “ROFO Negotiation Period”). If, despite such good faith efforts, Landlord and Tenant are unable to reach such agreement, then, upon the expiration of the ROFO Negotiation Period, Landlord and Tenant shall simultaneously submit to the other, in a sealed envelope, its good faith determination of the ROFO Fair Market Rental Value (the “ROFO Determination”), which determinations shall be their respective “last and best” offers pursuant to the process set forth in Section 55.4.2 below, and the parties ROFO Fair Market Rental Value shall thereafter be determined in accordance with the terms of Section 55.4 below. In any event, if Tenant timely elects to lease the Offer Space, then Landlord and Tenant shall execute an amendment to this Lease, effective as of the Lease incorporating such Sixth Floor date the Offer Space is to be included as part of the Total Premises, on the terms set forth in the Offer Notice and, to the extent not inconsistent with the Offer Notice, the terms of this Lease (provided, that, to the extent not inconsistent with the terms of the Offer Notice, Tenant’s Proportionate Share and the Spaces to be rented pursuant to the Parking Ratio shall be equitably and proportionately increased in proportion to the increase in the square footage of the Premises); however, Tenant specifically acknowledges and agrees that the Delivery Condition shall apply with respect to any Offer Space (subject, in any event, to Landlord’s Notice Obligation, Landlord’s Compliance Obligation and Landlord’s maintenance and repair obligations under this Lease), and Landlord shall not provide to Tenant any allowances (e.g., moving allowance, construction allowance, and the like, including, without limitation, any Tenant Improvement Allowance) or other tenant inducements (including, without limitation, any waiver of any construction management fee, and/or any rent credits or abatements, including, without limitation, any Initial Premises Base Rent Abatement Right) unless otherwise specifically provided in the Offer Notice. In addition, the parties specifically acknowledge and agree that the Rentable Square Footage of any such Offer Space shall be determined in substantial accordance with the method used to determine the Rentable Square Footage of the Premises. Space shall not be considered “available for lease” if it is leased by another tenant. Notwithstanding Without limiting the generality of the foregoing, Landlord shall keep the parties specifically acknowledge and agree that if Tenant apprised as duly delivers an Election Notice in accordance with the terms herein electing to lease any Offer Space, then such delivery by Tenant shall, subject to the status of all of the Sixth Floor Offer Space so that Tenant has advance notice as to when all or any portion of the Sixth Floor Offer Space becomes “available for leaseterms herein, be binding.”
Appears in 1 contract
Samples: Office Lease (SPS Commerce Inc)
