Common use of Procedure for Acceptance Clause in Contracts

Procedure for Acceptance. On or before the date that is ten (10) business days after Tenant’s receipt of a First Opportunity Notice (the “Election Date”), Tenant may, at its option, deliver an irrevocable, unqualified, unconditional notice to Landlord electing to lease the First Opportunity Space identified in such First Opportunity Notice upon the terms set forth in the First Opportunity Notice (“Tenant’s Election Notice”); provided, however, Tenant may EXHIBIT K 1 [Cypress Building] [Griptonite, Inc.] object in Tenant’s Election Notice to the Market Rate for such First Opportunity Space as set forth by Landlord in such First Opportunity Notice, in which case the arbitration provisions of Exhibit J shall apply to determine the Market Rate (if Tenant fails to timely object to Landlord’s determination of the Market Rate in Tenant’s Election Notice, Tenant shall be deemed to have accepted same, and the arbitration provisions of Exhibit I shall not apply with respect thereto). Tenant may exercise its Right of First Opportunity only with respect to all of the First Opportunity Space identified in such First Opportunity Notice and only upon the terms set forth in the First Opportunity Notice. If Tenant does not deliver Tenant’s Election Notice to Landlord on or before the Election Date, then Tenant shall have no further rights hereunder to lease the particular First Opportunity Space identified in a First Opportunity Notice. Time is of the essence of this provision and Tenant acknowledges and agrees that Landlord will have no obligation to lease to Tenant any First Opportunity Space identified in a First Opportunity Notice if Tenant does not deliver Tenant’s Election Notice to Landlord on or before the Election Date. Any qualified or conditional acceptance by Tenant of a First Opportunity Notice shall be deemed to be a counter-offer to, and a rejection of, such First Opportunity Notice. If Tenant’s Election Notice is not a written, unqualified, unconditional, irrevocable acceptance of the First Opportunity Notice, or is not delivered on or before 5:00 p.m. on the Election Date, then Tenant shall be deemed to have rejected the First Opportunity Notice. If Tenant rejects or is deemed to have rejected a First Opportunity Notice for any reason, the Right of First Opportunity shall automatically terminate and be of no further force or effect with respect to the particular First Opportunity Space identified therein and Landlord shall thereafter have the right to lease all or any portion of such First Opportunity Space for a period of twelve (12) months immediately following such rejection or deemed rejection, to any person on any terms and conditions Landlord desires (including terms and conditions more favorable than the terms and conditions set forth in such First Opportunity Notice) free of any rights of Tenant under this Exhibit K, and in the event that following the expiration of such twelve (12) month period, all or any portion of the First Opportunity Space shall remain un-leased to third-parties, then Tenant’s rights under this Exhibit K with respect to such First Opportunity Space shall renew.

Procedure for Acceptance. On or before the date that which is ten (10) business days after Tenant’s receipt of a the Landlord’s First Opportunity Offer Notice (the “Election Date”), Tenant may, at its option, shall deliver an irrevocable, unqualified, unconditional written notice to Landlord electing (“Tenant’s Election Notice”) pursuant to which Tenant shall have the ongoing right to elect either to: (i) lease the entire applicable First Opportunity Offer Space identified described in such the First Opportunity Offer Notice upon the terms set forth in the First Opportunity Notice Offer Notice; or (“Tenant’s Election Notice”); provided, however, Tenant may EXHIBIT K 1 [Cypress Building] [Griptonite, Inc.] object in Tenant’s Election Notice to the Market Rate for ii) not lease such applicable First Opportunity Offer Space as set forth by Landlord in such First Opportunity Notice, in which case the arbitration provisions of Exhibit J shall apply to determine the Market Rate (if Tenant fails to timely object to Landlord’s determination of the Market Rate in Tenant’s Election Notice, Tenant shall be deemed to have accepted same, and the arbitration provisions of Exhibit I shall not apply with respect thereto). Tenant may exercise its Right of First Opportunity only with respect to all of the First Opportunity Space identified in such First Opportunity Notice and only upon the terms set forth described in the First Opportunity Offer Notice. If Tenant does not deliver Tenant’s Election Notice to Landlord on electing one of the options in clauses (i) or before (ii) hereinabove by the Election Date, then Tenant shall have no further rights hereunder to lease the particular First Opportunity Space identified in a First Opportunity Notice. Time is of the essence of this provision and Tenant acknowledges and agrees that Landlord will have no obligation to lease to Tenant any First Opportunity Space identified in a First Opportunity Notice if Tenant does not deliver Tenant’s Election Notice to Landlord on or before the Election Date. Any qualified or conditional acceptance by Tenant of a First Opportunity Notice shall be deemed to be a counter-offer to, and a rejection of, such First Opportunity Notice. If Tenant’s Election Notice is not a written, unqualified, unconditional, irrevocable acceptance of the First Opportunity Notice, or is not delivered on or before 5:00 p.m. on the Election Date, then Tenant shall be deemed to have rejected elected not to lease the applicable First Offer Space described in the First Opportunity NoticeOffer Notice pursuant to clause (ii) hereinabove. If Tenant rejects elects or is deemed to have rejected a elected not to lease the applicable First Opportunity Notice for any reasonOffer Space described in the First Offer Notice, the Right then Tenant’s right of First Opportunity first offer set forth in this Section 14 shall automatically terminate and be of no further force or effect with respect to such applicable First Offer Space so identified in the particular First Opportunity Space identified therein Offer Notice and Landlord shall thereafter have the right to lease all or any portion of such applicable First Opportunity Offer Space for a period of twelve (12) months immediately following such rejection or deemed rejection, so described in the First Offer Notice to any person anyone to whom Landlord desires on any terms Landlord desires. Notwithstanding anything in this Section 14 to the contrary, (A) Tenant must elect to exercise its right of first offer herein with respect to the entire applicable First Offer Space identified in any applicable First Offer Notice and conditions Landlord desires (including terms and conditions more favorable than the terms and conditions set forth in such First Opportunity Notice) free of any rights of Tenant under this Exhibit Kmay not elect to lease only a portion thereof, and (B) Tenant’s right of first offer to lease any First Offer Space not previously identified in any applicable First Offer Notice delivered by Landlord to Tenant shall not terminate as a result of Tenant’s election or deemed election to refuse to lease any other applicable First Offer Space so identified in a First Offer Notice, and shall continue until the event that following earlier of (1) the date such other applicable First Offer Space first becomes available for lease as determined by Landlord as provided hereinabove, or (2) the expiration of such twelve (12) month period, all or any portion of the First Opportunity Space shall remain un-leased to third-parties, then Tenant’s rights under this Exhibit K with respect to such First Opportunity Space shall renewOffer Period.

Procedure for Acceptance. On or before the date that which is ten five (105) business days after Tenant’s receipt of a the Landlord’s First Opportunity Offer Notice (the “Election Date”), Tenant may, at its option, shall deliver an irrevocable, unqualified, unconditional written notice to Landlord electing to lease the First Opportunity Space identified in such First Opportunity Notice upon the terms set forth in the First Opportunity Notice (“Tenant’s Election Notice”); provided, however, Tenant may EXHIBIT K 1 [Cypress Building] [Griptonite, Inc.] object in Tenant’s Election Notice ) pursuant to the Market Rate for such First Opportunity Space as set forth by Landlord in such First Opportunity Notice, in which case the arbitration provisions of Exhibit J shall apply to determine the Market Rate (if Tenant fails to timely object to Landlord’s determination of the Market Rate in Tenant’s Election Notice, Tenant shall be deemed have the one-time right to have accepted same, and elect either to: (i) lease the arbitration provisions of Exhibit I shall not apply with respect thereto). Tenant may exercise its Right of entire First Opportunity only with respect to all of the First Opportunity Offer Space identified in such the First Opportunity Offer Notice and only upon the terms Economic Terms set forth in the First Opportunity Offer Notice and the same non-Economic Terms as set forth in the Lease, as hereby amended; or (ii) not lease the First Offer Space identified in the First Offer Notice. Further, in the event that Tenant elects clause (i) above, Tenant’s Election Notice shall also provide whether or not Tenant elects to exercise the Suite 210 Termination Option. If Tenant does not deliver Tenant’s Election Notice to Landlord on or before the Election Date, then Tenant shall have no further rights hereunder to lease the particular First Opportunity Space identified in a First Opportunity Notice. Time is electing one of the essence of this provision and Tenant acknowledges and agrees that Landlord will have no obligation to lease to Tenant any First Opportunity Space identified options set forth in a First Opportunity Notice if Tenant does not deliver Tenant’s Election Notice to Landlord on clauses (i) or before the Election Date. Any qualified or conditional acceptance (ii) hereinabove by Tenant of a First Opportunity Notice shall be deemed to be a counter-offer to, and a rejection of, such First Opportunity Notice. If Tenant’s Election Notice is not a written, unqualified, unconditional, irrevocable acceptance of the First Opportunity Notice, or is not delivered on or before 5:00 p.m. on the Election Date, then Tenant shall be deemed to have rejected elected not to lease the First Opportunity NoticeOffer Space or to exercise the Suite 210 Termination Option. If Tenant rejects elects or is deemed to have rejected a elected not to lease the First Opportunity Notice for any reasonOffer Space, the Right then Tenant’s right of First Opportunity first offer set forth in this Section 14 shall automatically terminate and be of no further force or effect with respect to the particular First Opportunity Space identified therein and Landlord shall thereafter have the right to lease all or any portion of such the First Opportunity Offer Space for a period of twelve (12) months immediately following such rejection or deemed rejection, to any person anyone to whom Landlord desires on any terms Landlord desires. Furthermore, the Suite 210 Termination Option shall be void, and conditions the Lease, as hereby amended, shall continue in full force and effect with respect to the entire Premises. If Tenant timely delivers Tenant’s Election Notice to Landlord desires on or before the Election Date in accordance with clause (including terms i) hereinabove, then Tenant shall lease the First Offer Space upon the Economic Terms contained therein and conditions more favorable than the terms and conditions non-Economic Terms set forth in such First Opportunity Noticethe Lease, as hereby amended. In addition, if Tenant timely delivers Tenant’s Election Notice to Landlord on or before the Election Date in accordance with clause (i) free of any rights of Tenant under this Exhibit Khereinabove, and Tenant shall have properly exercised the Suite 210 Termination Option in the event that following the expiration of such twelve (12) month period, all or any portion of the First Opportunity Space shall remain un-leased to third-partiesTenant’s Election Notice, then Tenant’s rights under this Exhibit K the Lease, as hereby amended, shall terminate with respect to such the Suite 210 Premises only, as of the Suite 210 Surrender Date, whereby Tenant shall vacate and deliver exclusive possession of the Suite 210 Premises to Landlord on or prior to the Suite 210 Surrender Date in accordance with the applicable provisions of the Lease. Notwithstanding the foregoing provisions of this Section 6 to the contrary, at Landlord’s option and in addition to any and all remedies available to Landlord, the Suite 210 Termination Option shall not be deemed to be properly exercised if as of the date Tenant delivers to Landlord Tenant’s Election Notice exercising the Suite 210 Termination Option, Tenant is in default under the Lease, as amended hereby, beyond all applicable notice and cure periods. Notwithstanding anything in this Section 6 to the contrary, Tenant must elect to exercise its right of first offer herein with respect to the entire First Opportunity Offer Space shall renewidentified in Landlord’s First Offer Notice and may not elect to lease only a portion thereof.

Procedure for Acceptance. On or before the date that which is ten five (105) business days after Tenant’s 's receipt of a the First Opportunity Offer Notice (the “Election Date”"ELECTION DATE"), Tenant may, at its option, shall deliver an irrevocable, unqualified, unconditional written notice to Landlord electing ("TENANT'S ELECTION NOTICE") pursuant to which Tenant shall elect either to (A) lease the entire First Opportunity Offer Space identified described in such the First Opportunity Offer Notice upon the terms Economic Terms set forth in the First Opportunity Offer Notice and the same non-Economic Terms as set forth in the Lease (“Tenant’s Election Notice”as then amended); provided, however, Tenant may EXHIBIT K 1 [Cypress Building] [Griptonite, Inc.] object in Tenant’s Election Notice (B) refuse to the Market Rate for lease such First Opportunity Offer Space as identified in the First Offer Notice, specifying that such refusal is not based upon the Economic Terms set forth by Landlord in the First Offer Notice, but upon Tenant's lack of need for such First Opportunity NoticeOffer Space, in which case event Landlord may lease such First Offer Space to any entity on any terms Landlord desires (the arbitration provisions "SUBSEQUENT LEASE") and Tenant's right of Exhibit J shall apply to determine the Market Rate (if Tenant fails to timely object to Landlord’s determination of the Market Rate in Tenant’s Election Notice, Tenant shall be deemed to have accepted same, and the arbitration provisions of Exhibit I shall not apply with respect thereto). Tenant may exercise its Right of First Opportunity only first offer with respect to all of the First Opportunity Offer Space identified specified in such Landlord's First Opportunity Notice and only upon the terms set forth in the First Opportunity Notice. If Tenant does not deliver Tenant’s Election Notice to Landlord on or before the Election Date, then Tenant shall have no further rights hereunder to lease the particular First Opportunity Space identified in a First Opportunity Notice. Time is of the essence of this provision and Tenant acknowledges and agrees that Landlord will have no obligation to lease to Tenant any First Opportunity Space identified in a First Opportunity Notice if Tenant does not deliver Tenant’s Election Notice to Landlord on or before the Election Date. Any qualified or conditional acceptance by Tenant of a First Opportunity Offer Notice shall be deemed to be a counter-offer to, and a rejection of, such First Opportunity Notice. If Tenant’s Election Notice is not a written, unqualified, unconditional, irrevocable acceptance of the First Opportunity Notice, or is not delivered on or before 5:00 p.m. on the Election Date, then Tenant shall be deemed to have rejected the First Opportunity Notice. If Tenant rejects or is deemed to have rejected a First Opportunity Notice for any reason, the Right of First Opportunity shall automatically thereupon terminate and be of no further force or effect with respect until such space once again becomes available after expiration of the Subsequent Lease including any renewal or extension of such Subsequent Lease, whether or not such renewal or extension is pursuant to an express written provision in such Subsequent Lease, and regardless of whether any such renewal or extension is consummated pursuant to a lease amendment or a new lease, or (C) refuse to lease the First Offer Space, specifying that such refusal is based upon the Economic Terms set forth in the First Offer Notice, in which event Tenant shall also specify in Tenant's Election Notice revised Economic Terms upon which Tenant would be willing to lease such First Offer Space from Landlord. If Tenant does not so respond in writing to Landlord's First Offer Notice by the Election Date, Tenant shall be deemed to have elected the option described in clause (ii)(B) above. If Tenant timely delivers to Landlord Tenant's Election Notice pursuant to clause (ii)(C) above, Landlord may elect either to: (a) lease such First Offer Space to Tenant upon the revised Economic Terms specified by Tenant in Tenant's Election Notice, and the same non-Economic Terms as set forth in the Lease (as then amended); or (b) lease the First Offer Space to any person or entity upon any terms Landlord desires; provided, however, if the Economic Terms of Landlord's proposed lease to said third party are not less favorable to the particular First Opportunity Space identified therein and third party than those Economic Terms proposed by Tenant in Tenant's Election Notice, before entering into such third party lease, Landlord shall thereafter notify Tenant of such no less favorable Economic Terms and Tenant shall have the right to lease all or any portion the First Offer Space upon such no less favorable Economic Terms by delivering written notice thereof to Landlord within three (3) business days after Tenant's receipt of Landlord's notice. If Tenant does not elect to lease such First Opportunity Space for a period of twelve space from Landlord within said three (123) months immediately following such rejection or deemed rejection, to any person on any terms and conditions Landlord desires (including terms and conditions more favorable than the terms and conditions set forth in such First Opportunity Notice) free of any rights of Tenant under this Exhibit K, and in the event that following the expiration of such twelve (12) month business-day period, Tenant shall be deemed to have elected the option described in clause (ii)(B) above. In determining whether the Economic Terms of Landlord's proposed lease to a third party are no less favorable to the third party than those Economic Terms proposed by Tenant in Tenant's Election Notice, all or any portion concessions shall be blended into an effective rental rate over the term of the First Opportunity Space proposed lease to said third party and such effective rental rate shall remain un-leased to third-parties, then be compared with the effective rental rate of the Economic Terms proposed by Tenant in Tenant’s rights under this Exhibit K with respect to such First Opportunity Space shall renew's Election Notice.

Procedure for Acceptance. On or before the date that which is ten seven (107) business days after Tenant’s receipt of a the First Opportunity Offer Notice (the “Election Date”), Tenant may, at its option, shall deliver an irrevocable, unqualified, unconditional written notice to Landlord electing to lease the First Opportunity Space identified in such First Opportunity Notice upon the terms set forth in the First Opportunity Notice (“Tenant’s Election Notice”) pursuant to which Tenant shall elect either to (i) lease the entire First Offer Space described in the First Offer Notice upon the Economic Terms set forth in the First Offer Notice and the same non-Economic Terms as set forth in the Lease (as then amended); provided, however, Tenant may EXHIBIT K 1 [Cypress Building] [Griptonite, Inc.] object in Tenant’s Election Notice (ii) refuse to the Market Rate for lease such First Opportunity Offer Space as identified in the First Offer Notice, specifying that such refusal is not based upon the Economic Terms set forth by Landlord in the First Offer Notice, but upon Tenant’s lack of need for such First Opportunity NoticeOffer Space, in which case event Landlord may lease such First Offer Space to any entity on any terms Landlord desires (the arbitration provisions of Exhibit J shall apply to determine the Market Rate (if Tenant fails to timely object to Landlord’s determination of the Market Rate in “Subsequent Lease”) and Tenant’s Election Notice, Tenant shall be deemed to have accepted same, and the arbitration provisions right of Exhibit I shall not apply with respect thereto). Tenant may exercise its Right of First Opportunity only first offer with respect to all of the First Opportunity Offer Space identified specified in such Landlord’s First Opportunity Notice and only upon the terms set forth in the First Opportunity Notice. If Tenant does not deliver Tenant’s Election Notice to Landlord on or before the Election Date, then Tenant shall have no further rights hereunder to lease the particular First Opportunity Space identified in a First Opportunity Notice. Time is of the essence of this provision and Tenant acknowledges and agrees that Landlord will have no obligation to lease to Tenant any First Opportunity Space identified in a First Opportunity Notice if Tenant does not deliver Tenant’s Election Notice to Landlord on or before the Election Date. Any qualified or conditional acceptance by Tenant of a First Opportunity Offer Notice shall be deemed to be a counter-offer to, and a rejection of, such First Opportunity Notice. If Tenant’s Election Notice is not a written, unqualified, unconditional, irrevocable acceptance of the First Opportunity Notice, or is not delivered on or before 5:00 p.m. on the Election Date, then Tenant shall be deemed to have rejected the First Opportunity Notice. If Tenant rejects or is deemed to have rejected a First Opportunity Notice for any reason, the Right of First Opportunity shall automatically thereupon terminate and be of no further force or effect with respect until such space once again becomes available after expiration of the Subsequent Lease including any renewal or extension of such Subsequent Lease, whether or not such renewal or extension is pursuant to an express written provision in such Subsequent Lease, and regardless of whether any such renewal or extension is consummated pursuant to a lease amendment or a new lease, or (iii) refuse to lease the particular First Opportunity Offer Space, specifying that such refusal is based upon the Economic Terms set forth in the First Offer Notice, in which event Tenant shall also specify in Tenant’s Election Notice revised Economic Terms upon which Tenant would be willing to lease such First Offer Space identified therein from Landlord. If Tenant does not so respond in writing to Landlord’s First Offer Notice by the Election Date, Tenant shall be deemed to have elected the option described in clause (b)(ii) above. If Tenant timely delivers to Landlord Tenant’s Election Notice pursuant to clause (b)(iii) above, Landlord may elect either to: (A) lease such First Offer Space to Tenant upon the revised Economic Terms specified by Tenant in Tenant’s Election Notice, and the same non-Economic Terms as set forth in the Lease (as then amended); or (B) lease the First Offer Space to any person or entity upon any terms Landlord desires; provided, however, if the Economic Terms of Landlord’s proposed lease to said third party are less favorable to Landlord than those Economic Terms proposed by Tenant in Tenant’s Election Notice, before entering into such third party lease, Landlord shall thereafter notify Tenant (and deliver a courtesy copy to CB Xxxxxxx Xxxxx, Inc., Attn: Xxxx Xxxx, on any such notice) of such less favorable Economic Terms and Tenant shall have the right to lease the First Offer Space upon such less favorable Economic Terms by delivering written notice thereof to Landlord within five (5) business days after Tenant’s receipt of Landlord’s notice. If Tenant does not elect to lease such space from Landlord within said five (5) business day period, Tenant shall be deemed to have elected the option described in clause (b)(ii) above. In determining whether the Economic Terms of Landlord’s proposed lease to a third party are less favorable to Landlord than those Economic Terms proposed by Tenant in Tenant’s Election Notice, all or any portion concessions shall be blended into an effective rental rate over the term of the proposed lease to said third party and such First Opportunity Space for a period effective rental rate shall be compared with the effective rental rate of twelve (12) months immediately following such rejection or deemed rejection, to any person on any terms and conditions Landlord desires (including terms and conditions more favorable than the terms and conditions set forth Economic Terms proposed by Tenant in such First Opportunity Tenant’s Election Notice) free of any rights of Tenant under this Exhibit K, and in the event that following Economic Terms of Landlord’s proposed lease to the expiration of such twelve (12) month period, all or any portion third party shall only be deemed less favorable to Landlord if the effective rental rate of the First Opportunity Space shall remain un-leased proposed lease to third-parties, then the third party is less than ninety percent (90%) of the effective rental rate of the Economic Terms proposed by Tenant in Tenant’s rights under this Exhibit K with respect Election Notice. The effective rental rate shall mean the rental amount to such First Opportunity Space shall renewbe paid to Landlord, taking into account any free rent, tenant improvement expenses or allowances to be incurred by Landlord and any other monetary concessions granted by Landlord.

Procedure for Acceptance. On or before the date that which is ten seven (107) business days after Tenant’s 's receipt of a Landlord's First Opportunity Refusal Notice (the “"ROFR Election Date”"), Tenant may, at its option, shall deliver an irrevocable, unqualified, unconditional a written notice to Landlord electing (the "ROFR Election Notice") pursuant to which Tenant shall elect either to: (i) exercise such First Refusal Right and lease the entire First Refusal Space described in the applicable Landlord's First Refusal Notice upon the ROFR Economic Terms set forth in such applicable Landlord's First Refusal Notice and the same non-ROFR Economic Terms as set forth in the Lease, as amended hereby; or (ii) reject such First Refusal Right and refuse to lease the entire First Opportunity Refusal Space identified in the applicable Landlord's First Refusal Notice, in which event Tenant's First Refusal Right with respect to the First Refusal Space identified in such applicable Landlord's First Opportunity Notice upon the terms set forth in the First Opportunity Notice (“Tenant’s Election Notice”); provided, however, Tenant may EXHIBIT K 1 [Cypress Building] [Griptonite, Inc.] object in Tenant’s Election Notice to the Market Rate for such First Opportunity Space as set forth by Landlord in such First Opportunity Notice, in which case the arbitration provisions of Exhibit J shall apply to determine the Market Rate (if Tenant fails to timely object to Landlord’s determination of the Market Rate in Tenant’s Election Notice, Tenant shall be deemed to have accepted same, and the arbitration provisions of Exhibit I shall not apply with respect thereto). Tenant may exercise its Right of First Opportunity only with respect to all of the First Opportunity Space identified in such First Opportunity Notice and only upon the terms set forth in the First Opportunity Notice. If Tenant does not deliver Tenant’s Election Notice to Landlord on or before the Election Date, then Tenant shall have no further rights hereunder to lease the particular First Opportunity Space identified in a First Opportunity Notice. Time is of the essence of this provision and Tenant acknowledges and agrees that Landlord will have no obligation to lease to Tenant any First Opportunity Space identified in a First Opportunity Notice if Tenant does not deliver Tenant’s Election Notice to Landlord on or before the Election Date. Any qualified or conditional acceptance by Tenant of a First Opportunity Refusal Notice shall be deemed to be a counter-offer to, and a rejection of, such First Opportunity Notice. If Tenant’s Election Notice is not a written, unqualified, unconditional, irrevocable acceptance of the First Opportunity Notice, or is not delivered on or before 5:00 p.m. on the Election Date, then Tenant shall be deemed to have rejected the First Opportunity Notice. If Tenant rejects or is deemed to have rejected a First Opportunity Notice for any reason, the Right of First Opportunity shall thereupon automatically terminate and be of no further force or effect with respect to the particular First Opportunity Space identified therein effect, and Landlord shall may thereafter have the right to lease all or any portion of such applicable First Opportunity Refusal Space for a period of twelve (12) months immediately following such rejection or deemed rejection, to any person party on any terms Landlord desires. If Tenant does not so respond in writing to Landlord's First Refusal Notice by the ROFR Election Date, Tenant shall be deemed to have elected the option described in clause (ii) hereinabove. If Tenant timely delivers to Landlord the ROFR Election Notice as described in clause (i) hereinabove, then Tenant shall lease the applicable First Refusal Space described in such applicable Landlord's First Refusal Notice upon the ROFR Economic Terms contained in such applicable Landlord's First Refusal Notice and conditions Landlord desires (including terms and conditions more favorable than the terms and conditions non-ROFR Economic Terms set forth in such the Lease, as amended hereby. Notwithstanding anything in this Section 9 to the contrary, Landlord acknowledges and agrees that Tenant's First Opportunity Refusal Right to lease any First Refusal Space not previously identified in any Landlord's First Refusal Notice delivered by Landlord to Tenant shall not terminate as a result of Tenant's election or deemed election to refuse to lease any other First Refusal Space so identified in a Landlord's First Refusal Notice) free of any rights of Tenant under this Exhibit K, and in the event that following the expiration of shall continue until such twelve (12) month periodtime, all or any portion of but not beyond the First Opportunity Space shall remain un-leased to third-partiesRefusal Period, then Tenant’s rights under this Exhibit K with respect to as such First Opportunity Space shall renewspace first becomes available for lease as determined by Landlord as provided hereinabove.