Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability with respect to the space described in an Availability Notice, then within fifteen (15) business days of delivery of such Availability Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention to exercise its right of availability with respect to the entire space described in such Availability Notice, at the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”). If Tenant does not so notify Landlord within the fifteen (15) business day period, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability Notice to anyone to whom Landlord desires on any terms Landlord desires. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availability, if at all, with respect to all of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof.
Appears in 3 contracts
Samples: Office Lease (Square, Inc.), Office Lease (Square, Inc.), Office Lease (Square, Inc.)
Procedure for Acceptance. If Tenant wishes to exercise TenantXxxxxx’s right of availability first offer with respect to the space First Offer Space described in an Availability the First Offer Notice, then within fifteen five (155) business days of after delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention to irrevocable exercise of its right of availability first offer with respect to all of the entire space First Offer Space described in such Availability Notice, at the rent, First Offer Notice on the Fundamental Terms provided for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)therein. If Tenant does not so notify Landlord within the fifteen such five (155) business day periodperiod of Tenant’s exercise of its first offer right, then subject to the terms of Section 1.4.4, below, Landlord shall be free to negotiate and enter into a lease for the space described in such Availability Notice First Offer Space to anyone to whom Landlord it desires on any terms that Landlord desires. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityprovided that, if at all, with respect to all Landlord has not entered into any such lease within ninety (90) days after the date of delivery of the First Offer Notice, then, prior to entering into any lease of such First Offer Space, Landlord shall first again offer such space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability in accordance with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.41.3, including Section 1.4.4.provided that, Tenant’s right prior to the entering into a lease of availability as such space on terms that are more than 10% more favorable to the tenant than those set forth in this Section 1.4 the First Offer Notice (as determined on a net effective basis), Landlord shall terminate as first deliver any other First Officer Notice to all Tenant offering such space to Tenant on such reduced terms. Tenant shall respond to any such “re-offer” within five (5) days after delivery of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof“re-offer” notice.
Appears in 3 contracts
Samples: Lease Agreement, Lease (Denali Therapeutics Inc.), Lease (Denali Therapeutics Inc.)
Procedure for Acceptance. If Tenant wishes to exercise On or before the date which is ten (10) days after Tenant’s right receipt of availability with respect to Landlord’s First Offer Notice (the space described in an Availability Notice, then within fifteen (15) business days of delivery of such Availability Notice to Tenant“Election Date”), Tenant shall deliver written notice to Landlord of (“Tenant’s intention Election Notice”) pursuant to exercise its which Tenant shall have the one-time right of availability with respect to elect to: (i) lease the entire space First Offer Space described in such Availability Notice, at the rent, for the term, and First Offer Notice upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3the First Offer Notice; (ii) refuse to lease such First Offer Space identified in the First Offer Notice; (iii) lease the entire First Offer Space upon the base monthly rent, 1.4.5 but object to the terms set forth in the First Office Notice, which Landlord and 1.4.6 below Tenant shall have ten (10) days to agree upon in their sole and for a term that is coterminous with the Term (an “Exercise Notice”)absolute discretion. If Tenant does not so notify Landlord within respond in writing to Landlord’s First Offer Notice by the fifteen (15) business day periodElection Date, then subject to the terms of Section 1.4.4, below, Landlord Tenant shall be free deemed to have elected not to lease the space described First Offer Space. If Tenant elects or is deemed to have elected not to lease the First Offer Space or the parties are unable to agree to mutually acceptable terms pursuant to subpart (iii) above, then Tenant’s First Offer Right set forth in this Addendum One shall terminate and Landlord shall thereafter have the right to lease all or any portion of such Availability Notice First Offer Space to anyone to whom Landlord desires on any terms Landlord desires. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availability, if at all, with respect to all of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof.
Appears in 3 contracts
Samples: Lease Agreement (Dermira, Inc.), Lease Agreement (Dermira, Inc.), Lease Agreement (Dermira, Inc.)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right the Right of availability First Offer with respect to the space described in an Availability a First Offer Notice, then within fifteen five (155) business days of delivery of such Availability First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention to exercise irrevocably exercising its right of availability first offer with respect to the entire space described in such Availability Notice, at First Offer Notice on the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)contained therein. If Tenant does not so notify Landlord within the fifteen five (155) business day period, then subject to the terms of Section 1.4.4, below, Landlord shall be free released of its obligation to lease such First Offer Space to Tenant for a period of nine (9) months following the relevant First Offer Notice (the “Waiver Period”), and Landlord shall have the right during such Waiver Period to lease the space described First Offer Space to any third party for a term and on such other conditions as Landlord may determine in such Availability Notice Landlord’s sole discretion. If Landlord has not leased the First Offer Space to anyone to whom Landlord desires on any terms Landlord desires. Notwithstanding anything a third party within the Waiver Period, then the provisions of this Section 1.3 shall again apply to the contrary contained hereinFirst Offer Space, Tenant must elect to exercise its right of availabilityprovided, however, that if at all, Landlord is actively and in good faith negotiating with a third party with respect to the First Offer Space at the end of such Waiver Period, the Waiver Period shall be extended through the date such negotiations conclude. Upon Landlord’s leasing the applicable First Offer Space to any third party during the Waiver Period, all rights of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of such First Offer Space under this Section 1.4, including Section 1.4.4., Tenant’s right of availability as set forth in this Section 1.4 1.3 shall terminate as to all of the space described in such Availability Notice cease until the space again First Offer Space becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereoffor lease again at a future date.
Appears in 2 contracts
Samples: Sublease Agreement (CrowdStrike Holdings, Inc.), Sublease Agreement (CrowdStrike Holdings, Inc.)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability first offer with respect to the space First Offer Space described in an Availability the First Offer Notice, then within fifteen five (155) business days of after delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention to irrevocable exercise of its right of availability first offer with respect to all of the entire space First Offer Space described in such Availability Notice, at the rent, First Offer Notice on the Fundamental Terms provided for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)therein. If Tenant does not so notify Landlord within the fifteen such five (155) business day periodperiod of Tenant’s exercise of its first offer right, then subject to the terms of Section 1.4.4, below, Landlord shall be free to negotiate and enter into a lease for the space described in such Availability Notice First Offer Space to anyone to whom Landlord it desires on any terms that Landlord desires. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityprovided that, if at all, with respect to all Landlord has not entered into any such lease within ninety (90) days after the date of delivery of the First Offer Notice, then, prior to entering into any lease of such First Offer Space, Landlord shall first again offer such space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability in accordance with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.41.3, including Section 1.4.4.provided that, Tenant’s right prior to the entering into a lease of availability as such space on terms that are more than 10% more favorable to the tenant than those set forth in this Section 1.4 the First Offer Notice (as determined on a net effective basis), Landlord shall terminate as first deliver any other First Officer Notice to all Tenant offering such space to Tenant on such reduced terms. Tenant shall respond to any such “re-offer” within five (5) days after delivery of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof“re-offer” notice.
Appears in 2 contracts
Samples: Sublease (Alector, Inc.), Lease (CytomX Therapeutics, Inc.)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability first offer with respect to the space described in an Availability a First Offer Notice, then within fifteen ten (1510) business days of following delivery of such Availability First Offer Notice to Tenant, Tenant shall deliver written notice to Landlord of Tenant’s intention to exercise its right of availability first offer with respect to the entire space described in such Availability Notice, at First Offer Notice on the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)contained therein. If Tenant does not so notify Landlord within the fifteen ten (1510) business day periodperiod set forth above, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desiresdesires on materially the same net-effective economic terms and materially the same fundamental non-economic terms as set forth in the First Offer Notice. In the event Landlord wishes to proceed with a lease to a third-party where the net-effective economic terms or fundamental non-economic terms are not materially the same as those set forth in the First Offer Notice, Tenant’s rights to such First Offer Space under this Section 1.5 shall renew, in which case the provisions of this Section 1.5 shall again be effective and Landlord shall again offer such First Offer Space to the Tenant pursuant to the terms hereof (and Tenant shall again have ten (10) days within which to respond). Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityfirst offer, if at all, with respect to all of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof.
Appears in 2 contracts
Samples: Sublease Agreement (Mast Therapeutics, Inc.), Office Lease (Santarus Inc)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right the Right of availability First Offer with respect to the space described in an Availability the First Offer Notice, then within fifteen ten (1510) business days of delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice (“First Offer Exercise Notice”) to Landlord of Tenant’s intention to exercise its right of availability the Right of First Offer with respect to the entire space described in the First Offer Notice on the terms contained in such Availability Noticenotice, at provided that (i) if the rentFirst Offer Commencement Date (defined below) is anticipated by Landlord to occur prior to the first anniversary of the Lease Commencement Date (the “One Year Period”), for then the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, First Offer Rent shall be as set forth in Sections 1.4.3Section 1.2.4.1, 1.4.5 below, and 1.4.6 (ii) after the One Year Period, Tenant may, upon and concurrent with such exercise, object to the First Offer Rent contained in the First Office Notice, in which case the parties shall follow the procedure, and the First Offer Rent shall be determined, as set forth in Section 1.2.4, below and for a term that is coterminous with the Term (an “Exercise NoticeTenant’s First Offer Arbitration Right”). If Tenant does not so notify Landlord within the fifteen ten (1510) business day period, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desiresdesires (any lease of such space to a third party shall be referred to herein as an “Intervening Lease”). Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right the Right of availabilityFirst Offer, if at all, with respect to all of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof.
Appears in 2 contracts
Samples: Office Lease (Apptio Inc), Office Lease (Apptio Inc)
Procedure for Acceptance. If Tenant wishes to exercise TenantXxxxxx’s right of availability first offer with respect to the space described in an Availability the First Offer Notice, then within fifteen ten (1510) business days of after delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver an unconditional irrevocable notice to Landlord of Tenant’s intention to exercise of its right of availability first offer with respect to the entire space described in such Availability the First Offer Notice, at and the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, Economic Terms shall be as set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise First Offer Notice”). If Tenant does not so notify Landlord unconditionally exercise its right of first offer within the fifteen ten (1510) business day period, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desiresdesires and Tenant’s right of first offer shall terminate as to the First Offer Space described in the First Offer Notice provided that, if Landlord does not lease the First Offer Space on the same terms on which it was offered to Tenant, within ninety (90) days of the end of the ten (10) business day period for Tenant to respond to the First Offer Notice, the First Office Space shall be re-offered to Tenant as provided herein when Landlord elects to provide a First Offer Notice to Tenant as provided in Section 1.4.1. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityfirst offer, if at all, with respect to all of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof.
Appears in 2 contracts
Samples: Office Lease (Rocket Companies, Inc.), Office Lease (Rocket Companies, Inc.)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability first offer with respect to the space described in an Availability the First Offer Notice, then within fifteen ten (1510) business days of delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention election to exercise its right of availability first offer with respect to the entire space described in such Availability Noticethe First Offer Notice (other than all of the space, at if any, described in the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term First Offer Notice that is coterminous with not included in the Term (an “Exercise Notice”)First Offer Space) on the terms contained in such notice. If Tenant does not so notify Landlord within the fifteen ten (1510) business day period, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desires, at any time within six months after the expiration of such ten (10) business day period, provided that, prior to entering into a lease of such space on material economic terms that are more than 10% more favorable to the tenant than those set forth in the First Offer Notice (as determined on a net effective basis), Landlord shall first deliver another First Offer Notice to Tenant offering such space to Tenant on such reduced terms. Tenant shall respond to any such “re-offer” within five (5) business days after delivery of such “re-offer” notice. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityfirst offer, if at all, with respect to all of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof.
Appears in 2 contracts
Samples: Lease Agreement (Jounce Therapeutics, Inc.), Lease Agreement (Jounce Therapeutics, Inc.)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s 's right of availability first offer with respect to the space described in an Availability the First Offer Notice, then within fifteen five (155) business days of delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s 's intention to exercise its right of availability first offer with respect to the entire space described in such Availability Notice, at the rent, for First Offer Notice on the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)Economic Terms. If Tenant does not so notify Landlord within the fifteen five (155) business day period, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability the First Offer Notice (as well as the balance of the First Offer Space, if the space described in the First Offer Notice is less than the entirety of the First Offer Space) from time to time to anyone to whom Landlord desires on any terms Landlord desires, and Tenant shall no longer have any right to lease the First Offer Space; provided, however, in the event Landlord has not entered into a lease for the applicable First Offer Space within one hundred eighty (180) days after the date of a First Offer Notice, then prior to offering such space to a third party after the expiration of such 180-day period, Landlord shall re-offer the First Offer Space to Tenant pursuant to a new First Offer Notice and the procedures set forth in Section 41.1 and this Section 41.2 shall apply once again. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityfirst offer, if at all, with respect to all of the space offered by Landlord to Tenant at any particular timein the First Offer Notice and upon the precise terms set forth in the First Offer Notice, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to thereof or modify any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all the First Offer Notice. Any modification by Tenant of the space described in such Availability Notice until Economic Terms shall constitute Tenant's election not to exercise the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereoffirst offer right.
Appears in 1 contract
Samples: Standard Industrial Lease (Daisytek International Corporation /De/)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability first offer with respect to the space described in an Availability the First Offer Notice, then within fifteen five (155) business days of delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention to exercise of its right of availability first offer with respect to the entire space described in the First Offer Notice on the terms contained in such Availability Noticenotice. In the event that concurrently with Tenant’s exercise of the first offer right, at Tenant notifies Landlord that it does not accept the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, First Offer Rent set forth in Sections 1.4.3the First Offer Notice, 1.4.5 and 1.4.6 below and for a term that is coterminous the First Offer Rent shall be determined in accordance with the Term (an “Exercise procedures set forth in Section 2.2.4 of this Lease; otherwise, the First Offer Rent shall be as set forth in Landlord’s First Offer Notice”). If Tenant does not so notify Landlord within the fifteen five (155) business day periodperiod of Tenant’s exercise of its first offer right, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desiresdesires for a period of one hundred eighty (180) days commencing upon the expiration of the five (5) day period, after which time, Tenant’s rights to such space under this Section 1.3 shall renew. In the event that Landlord does lease all or a portion of the First Offer Space pursuant to this Section 1.3.2, then such lease and all of its terms shall become a Superior Lease and the rights described in items (i) and (ii) of Section 1.3 above with respect to such lease shall be included within the Superior Rights. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityfirst offer, if at all, with respect to all of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof.
Appears in 1 contract
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability first offer with respect to the space First Offer Space described in an Availability the First Offer Notice, then within fifteen twenty (1520) business days of after delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention to irrevocable exercise of its right of availability first offer with respect to all of the entire space First Offer Space described in such Availability the First Offer Notice on the Fundamental Terms provided for therein. Tenant shall be required to lease all of the space offered in a particular First Offer Notice, at the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)shall have no right to lease any lesser portion thereof. If Tenant does not so notify Landlord within the fifteen such twenty (1520) business day periodperiod of Tenant’s exercise of its first offer right, then subject to the terms of Section 1.4.4, below, Landlord shall be free to negotiate and enter into a lease for the space described in such Availability Notice First Offer Space to anyone to whom Landlord it desires on any terms Landlord desires. Notwithstanding anything to the contrary contained hereinthat are not more than ninety percent (90%), Tenant must elect to exercise its right of availabilityon a net economic basis, if at all, with respect to all of the Fundamental Terms initially provided (the "Materially Better Terms"). If (i) Landlord has not entered into any such lease within one hundred eighty (180) days after the date of delivery of the First Offer Notice, or (ii) Landlord intends to enter into a lease on Materially Better Terms, then, prior to entering into any lease of such First Offer Space, Landlord shall first again offer such space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability in accordance with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.41.3., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof.
Appears in 1 contract
Samples: Sublease (Sutro Biopharma, Inc.)
Procedure for Acceptance. If Tenant Txxxxx wishes to exercise TenantTxxxxx’s right of availability first offer with respect to the space described in an Availability the First Offer Notice, then within fifteen ten (1510) business days of delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention election to exercise its right of availability first offer with respect to the entire space described in the First Offer Notice on the terms contained in such Availability Notice, at the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)notice. If Tenant does not so notify Landlord within the fifteen ten (1510) business day period, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desires, provided that, prior to entering into a lease of such space on terms that are more than 10% more favorable to the tenant than those set forth in the First Offer Notice (as determined on a net effective basis), Landlord shall first deliver another First Offer Notice to Tenant offering such space to Tenant on such reduced terms. Tenant shall respond to any such “re-offer” within five (5) business days after delivery of such “re-offer” notice. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityfirst offer, if at all, with respect to all of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof.
Appears in 1 contract
Samples: Lease Agreement (Liquidia Corp)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability first offer with respect to the space described in an Availability the First Offer Notice, then within fifteen (15) business days of delivery of such Availability the First Offer Notice to Tenant (“Tenant’s Exercise Period”), Tenant shall deliver notice to Landlord of Tenant’s intention election to exercise its right of availability first offer with respect to the entire space described in the First Offer Notice on the Material Economic Terms contained in such Availability First Offer Notice, at the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”). If Tenant does not so notify Landlord within the such fifteen (15) business day period, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desires; provided, however, Landlord shall not lease such First Offer Space to a third party on Economic Terms less than ninety percent (90%) as favorable to Landlord as the Economic Terms offered in such First Offer Notice to Tenant (as determined using a Net Equivalent Lease Rate, as defined in Exhibit H attached hereto), without first providing Tenant with a new First Offer Notice on such reduced Economic Terms. If Landlord provides such a new First Offer Notice to Tenant, Tenant’s Exercise Period with respect to such new First Offer Notice shall be a period of five (5) business days. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityfirst offer, if at all, with respect to all of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof.
Appears in 1 contract
Samples: Office Lease (Box Inc)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right 's Right of availability First Offer with respect to the space described in an a First Offer Availability Notice, then within fifteen five (155) business days of delivery of such First Offer Availability Notice to Tenant, Tenant shall deliver notice to Landlord (a "First Offer Acceptance Notice") of Tenant’s intention to 's exercise its right of availability the Right of First Offer with respect to the entire space described in such First Offer Availability Notice, at Notice on the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)contained therein. If Tenant does not so notify Landlord deliver a First Offer Acceptance Notice within the fifteen five (155) business day period, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such First Offer Availability Notice to anyone to whom Landlord desires on any terms Landlord desires. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right the Right of availabilityFirst Offer, if at all, with respect to all of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right the Right of availability First Offer with respect to any the space described in an a First Offer Availability Notice or if Tenant fails to respond to an a First Offer Availability Notice within fifteen five (155) business days of delivery thereof, then subject to the terms Txxxxx's Right of this Section 1.4, including Section 1.4.4., Tenant’s right of availability First Offer as set forth in this Section 1.4 exhibit shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereofFirst Offer Space.
Appears in 1 contract
Samples: Office Lease (Auxilio Inc)
Procedure for Acceptance. If Tenant Lessee wishes to exercise TenantLessee’s right of availability first offer with respect to the space described in an Availability a First Offer Notice, then within fifteen seven (157) business days of delivery of such Availability First Offer Notice to TenantLessee, Tenant Lessee shall deliver notice to Landlord Lessor of TenantLessee’s intention to exercise its right of availability first offer with respect to the entire space described in such Availability First Offer Notice on the terms contained therein; provided, however, Lessee may elect to exercise its right of first offer with respect to the space described in a First Offer Notice, at but object to the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, First Offer Rent set forth in Sections 1.4.3the First Offer Notice, 1.4.5 and 1.4.6 below and for a term that is coterminous with in which event the Term (an “Exercise Notice”)First Offer Rent shall be determined pursuant to the terms of Section 11.3, below. If Tenant Lessee exercises its right of first offer with respect to the space described in a First Offer Notice, but fails to object to the First Offer Rent set forth in the First Offer Notice, then Lessee shall be deemed to have accepted the First Offer Rent set forth in the First Offer Notice. If Lessee does not so notify Landlord Lessor within the fifteen seven (157) business day period, then subject to the terms of Section 1.4.4, below, Landlord Lessor shall be free to lease the space described in such Availability First Offer Notice to anyone to whom Landlord Lessor desires on any terms Landlord Lessor desires. Notwithstanding anything to the contrary contained herein, Tenant Lessee must elect to exercise its right of availabilityfirst offer, if at all, with respect to all of the space offered by Landlord Lessor to Tenant Lessee at any particular time, and Tenant Lessee may not elect to lease only a portion thereof. If Tenant Lessee does not exercise its right of availability first offer with respect to any space described in an Availability a First Offer Notice or if Tenant Lessee fails to respond to an Availability a First Offer Notice within fifteen seven (157) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., TenantLessee’s right of availability first offer as set forth in this Section 1.4 10 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereofFirst Offer Notice.
Appears in 1 contract
Samples: Lease Agreement (DermTech, Inc.)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability first offer with respect to the space described in an Availability the First Offer Notice, then within fifteen ten (1510) business days of delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord (the “First Offer Exercise Notice”) of Tenant’s intention election to exercise its right of availability first offer with respect to the entire space described in the First Offer Notice on the terms contained in such Availability Notice, at the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)notice. If Tenant does not so notify Landlord within the fifteen such ten (1510) business day period, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desires; provided, that (i) prior to entering a lease with a third party tenant on economic terms which, on a net effective, present value basis, are more than 7% more favorable to the tenant than the terms contained in the First Offer Notice, Landlord shall first deliver a revised First Offer Notice to Tenant on such more favorable terms in accordance with the procedure set forth above; and (ii) if Landlord shall fail to lease the First Offer Space which is offered to Tenant for a period of six (6) months (which shall be extended by up to three (3) additional months during any period that Landlord is in active negotiations to lease such space), then Landlord shall again be obligated to deliver to Tenant a First Offer Notice in accordance with the terms of this Section 1.4 (any lease of such space to a third party executed within such time period shall be an Intervening Lease). Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityfirst offer, if at all, with respect to all of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof.
Appears in 1 contract
Samples: Lease (Allogene Therapeutics, Inc.)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s its right of availability first offer with respect to the space described in an Availability a First Offer Notice, then within fifteen seven (157) business days of delivery of such Availability First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of irrevocably exercising Tenant’s intention to exercise its right of availability first offer with respect to the entire space described in such Availability Notice, at First Offer Notice and either (i) accepting the rent, for the term, First Offer Rent and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term First Offer Notice (an the “Exercise NoticeOther Economic Terms”), in which case Tenant’s lease of the First Offer Space shall be at the First Offer Rent and Other Economic Terms, or (ii) rejecting the First Offer Rent and Other Economic Terms, in which case the First Offer Rent and other economic terms applicable to Tenant’s lease of the First Offer Space shall be determined pursuant to arbitration as set forth in Section 2.2.4 of this Lease, below. If Tenant does not so notify delivers notice to Landlord within the fifteen (15) business day period, then subject irrevocably exercising Tenant’s right of first offer with respect to the terms of Section 1.4.4, below, Landlord shall be free to lease the entire space described in such Availability First Offer Notice but fails to anyone accept or reject the First Offer Rent and Other Economic Terms, then Tenant shall be deemed to whom Landlord desires on any terms Landlord desireshave accepted the First Offer Rent and Other Economic Terms. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityfirst offer, if at all, with respect to all of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability first offer with respect to any space described in an Availability a First Offer Notice or if Tenant fails to respond to an Availability a First Offer Notice within fifteen seven (157) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s right of availability first offer as set forth in this Section 1.4 1.3 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereofFirst Offer Notice.
Appears in 1 contract
Samples: Office Lease (Ixia)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability with respect to the space described in an Availability Notice, then within fifteen (15) business days of delivery of such Availability Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention to exercise its right of availability with respect to the entire space described in such Availability Notice, at the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”). If Tenant does not so notify Landlord within the fifteen (15) business day period, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability Notice to anyone to whom Landlord desires on any terms Landlord desires. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availability, if at all, with respect to all of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., TenantXxxxxx’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof.
Appears in 1 contract
Samples: Sublease (Reddit, Inc.)
Procedure for Acceptance. If Tenant wishes to exercise On or before the date which is five (5) days after Tenant’s right receipt of availability with respect to any Landlord’s First Offer Notice (the space described in an Availability Notice, then within fifteen (15) business days of delivery of such Availability Notice to Tenant“Election Date”), Tenant shall deliver written notice to Landlord of (“Tenant’s intention Election Notice”) pursuant to exercise its which Tenant shall have the right of availability with respect to elect either to: (i) expand the Subleased Premises to include the entire space First Offer Space described in such Availability Notice, at the rent, for the term, and First Offer Notice upon the other fundamental economic Terms specified in Landlord’s First Offer Notice and otherwise on all the terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth conditions of the Sublease; or (ii) refuse to sublease such First Offer Space identified in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise First Offer Notice”). If Tenant does not so notify Landlord respond in writing to Landlord’s First Offer Notice by the Election Date, Tenant shall be deemed to have elected not to sublease the First Offer Space. If Tenant refuses (or is deemed to have refused) to lease the First Offer Space within the fifteen five (155) business day period, then subject to the terms of Section 1.4.4, belowperiod set forth above, Landlord shall be free to lease the space described in such Availability Notice First Offer Space to anyone a third party. The Right of First Offer granted herein shall terminate as to whom Landlord desires on any terms Landlord desires. Notwithstanding anything to a particular First Offer Space upon the contrary contained herein, failure by Tenant must elect to exercise its right Right of availability, if at all, First Offer with respect to all of the space such Offer Space as offered by Landlord but shall remain in effect for any subsequent availability of all or any portion of the remaining First Offer Space; provided, however, that if after Tenant’s failure to Tenant at any exercise the Right of First Offer as to a particular timeFirst Offer Space Landlord leases such space, and Tenant may not elect then upon the expiration of the term of such lease Tenant’s Right of First Offer shall again apply to lease only a portion thereof. If Tenant does not exercise its right of availability such space other than with respect to any renewal or extension with the tenant to whom Landlord leases such space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., after Tenant’s right initial or previous failure to exercise the Right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereofFirst Offer.
Appears in 1 contract
Samples: Sublease (Celladon Corp)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s 's right of availability first offer with respect to the space described in an Availability the First Offer Notice, then within fifteen twenty-one (1521) business calendar days of after delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention 's election to exercise its right of availability first offer with respect to the entire space described in the First Offer Notice on the terms contained in such Availability Notice, at the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)notice. If Tenant does not so notify Landlord within the fifteen twenty-one (1521) business calendar day period, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability First Offer Notice to anyone to whom Landlord desires on any terms Landlord desires, provided that (i) prior to entering into any lease on economic terms that, on a net effective, present value basis, are more than 5% more favorable to such third party than the terms contained in the First Offer Notice, (ii) prior to entering into any lease of less than all of the space described in the First Offer Notice, and (iii) prior to entering into any such lease on a date that is more than six (6) months after Tenant's election not to lease the First Offer Space, Landlord shall first again offer such space to Tenant on any such reduced terms in accordance with this Section 1.4. Notwithstanding anything to the contrary contained herein, subject to the foregoing, Tenant must elect to exercise its right of availabilityfirst offer, if at all, with respect to all of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability first offer with respect to any space described in an Availability a First Offer Notice or if Tenant fails to respond to an Availability a First Offer Notice within fifteen twenty-one (1521) business calendar days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s 's right of availability first offer as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereofFirst Offer Notice.
Appears in 1 contract
Samples: Lease Agreement (Rovi Corp)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability first offer with respect to the space described in an Availability the First Offer Notice, then within fifteen five (155) business days of delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention to exercise of its right of availability first offer with respect to the entire space described in the First Offer Notice on the terms contained in such Availability notice, and upon, and concurrent with, such exercise, Tenant may, at its option, object to the First Offer Rent contained in the First Offer Notice, at in which case the rent, for parties shall follow the termprocedure, and upon the other fundamental economic terms and conditionsFirst Offer Rent shall be determined, including, but not limited to, rental concessions and improvement allowances, as set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)Section 2.3.4 below. If Tenant does not so notify Landlord within the fifteen five (155) business day period, then subject to the terms of Section 1.4.4then, belowexcept as otherwise provided herein, Landlord shall be free to lease the space described in such Availability the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desires. In the event Tenant elects not to lease any available First Offer Space, subject to the other terms hereof, Tenant shall be entitled to receive further First Offer Notices, from time to time, and describing the then available First Offer Space, except as to any space which was previously offered to, and/or rejected by, Tenant. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityfirst offer, if at all, with respect to all of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof.
Appears in 1 contract
Samples: Office Lease (Accelrys, Inc.)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right 's Right of availability First Offer with respect to the space described in an Availability Noticethe First Offer Notice (the "ACCEPTED SPACE"), then then, within fifteen five (155) business days of delivery of such Availability the First Offer Notice to Tenant, time being of the essence, Landlord must receive written notice ("TENANT'S ACCEPTANCE NOTICE") from Tenant shall deliver notice to Landlord of stating Tenant’s 's intention to exercise its right Right of availability First Offer with respect to the entire space described in such Availability Notice, at the rent, for First Offer Notice on the term, terms contained in the First Offer Notice and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)this Article. If Tenant Landlord does not so notify Landlord properly receive Tenant's Acceptance Notice within the fifteen such five (155) business day period, time being of the essence, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desiresdesires and Tenant shall no longer have any rights in or to such space and Tenant's Right of First Offer shall thereafter be forever inapplicable to such space. Notwithstanding anything to the contrary contained herein, Tenant expressly acknowledges that Tenant must elect to exercise its right Right of availabilityFirst Offer, if at all, with respect to all of the space offered by Landlord to Tenant at any particular timetime as set forth in the applicable First Offer Notice, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof.
Appears in 1 contract
Samples: Lease (Comprehensive Care Corp)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s 's right of availability first offer with respect to the space described in an Availability the First Offer Notice, then within fifteen five (155) business days of after delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention to 's unconditional exercise of its right of availability first offer with respect to the entire space described in such Availability Notice, at the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth First Offer Notice in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous accordance with the Term terms contained in the First Offer Notice (an “the "Exercise Notice”"). If Tenant does not so notify deliver its Exercise Notice (with unconditional acceptance of the terms contained in the First Offer Notice) to Landlord within the fifteen five (155) business day periodperiod with respect to the entire space contained in the First Offer Notice, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability the First Offer Notice to anyone to whom Landlord desires on substantially the same terms (in all material respects) offered to Tenant and Tenant's right of first offer shall terminate with respect to that particular First Offer Space and be of no force or effect. If Landlord does not lease the First Offer Space within 120 days after the expiration the aforesaid five (5) business day period, then any terms further attempt by Landlord desiresto lease the First Offer Space shall again be subject to this Section 2.7. Notwithstanding anything to the contrary contained herein, (a) Tenant must elect to exercise its right of availabilityfirst offer, if at all, with respect to all of the space offered by Landlord to Tenant at any particular timeTenant, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right , and (b) Tenant's rights under this Section 2.7 shall automatically terminate and be of availability no force or effect with respect to any the subject space described in an Availability Notice or being offered if Tenant fails to respond to an Availability Notice within fifteen does timely and properly deliver its Exercise Notice, and (15c) business days of delivery thereof, in no event shall the basic rent for the First Offer Space be less than the then subject to the terms of this Section 1.4, including Section 1.4.4current Monthly Basic Rent (on a per rentable square foot basis)., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof.
Appears in 1 contract
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability 's rights set forth in this Section 1.2 with respect to the space described in an Availability the First Offer Notice, then within fifteen ten (1510) business days of after delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord (the "First Offer Exercise Notice") of Tenant’s intention 's election to exercise its right of availability with respect to lease such First Offer Space on the entire space described terms contained in such Availability the First Offer Notice, at the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”). If Tenant does not so notify Landlord exercise its right to lease the First Offer Space within the fifteen ten (1510) business day period, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desires, provided that, prior to leasing such space on terms that are more than five percent (5%) more favorable to the tenant, on a net economic present value basis, than the terms set forth in the First Offer Notice, Landlord shall first re-offer such space to Tenant on such reduced terms. Tenant's Right of First Offer under this Section 1.2 shall be subject and subordinate to any renewal or expansion rights granted in any such lease of the First Offer Space to a third party (an "Interim Lease"). Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right Right of availabilityFirst Offer, if at all, with respect to all of the space First Offer Space as offered by Landlord to Tenant at any particular timeLandlord, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof.
Appears in 1 contract
Samples: Office Lease (Zeltiq Aesthetics Inc)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s 's right of availability first offer with respect to the space described in an Availability the First Offer Notice, then within fifteen five (155) business days of (in the event the First Offer Notice pertains to space on the fourth (4th) floor) or three (3) business days (in the event the First Offer Notice pertains to space on the fifth (5th) floor) after delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver an unconditional irrevocable notice to Landlord of Tenant’s intention to 's exercise of its right of availability first offer with respect to the entire space described in such Availability the First Offer Notice, at and the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, First Offer Economic Terms shall be as set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise First Offer Notice”). If Tenant does not so notify Landlord unconditionally exercise its right of first offer within the fifteen (15) business day applicable time period, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desiresdesires and Tenant's right of first offer shall terminate as to the First Offer Space described in the First Offer Notice but shall be deemed reinstated upon the expiration or sooner termination of any lease for such First Offer Space entered into by Landlord and a third party tenant. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityfirst offer, if at all, with respect to all of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof.
Appears in 1 contract
Samples: Lease (Achaogen Inc)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability first offer with respect to the space described in an Availability the First Offer Notice, then within fifteen (15) business days of delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention to exercise its right of availability first offer with respect to all or any portion Of the entire space described in the First Offer Notice on the terms contained in such Availability Noticenotice. In the event that, at concurrently with Tenant’s exercise of the rentfirst offer right, for Tenant notifies Landlord that it does not accept the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, First Offer Rent set forth in Sections 1.4.3the First Offer Notice, 1.4.5 and 1.4.6 below and for a term that is coterminous the First Offer Rent shall be determined in accordance with the Term (an “Exercise procedures set forth in Section 2.2.2 of this Lease; otherwise, the First Offer Rent shall be as set forth in Landlord’s First Offer Notice”). If Tenant does not so notify Landlord within the fifteen (15) business day periodperiod of Tenant’s exercise of its first offer right, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desires. Notwithstanding anything to , for a period of one hundred eighty (180) days commencing upon the contrary contained herein, Tenant must elect to exercise its right of availability, if at all, with respect to all expiration of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereofday period, then subject to the terms of this Section 1.4, including Section 1.4.4.after which time, Tenant’s right of availability as set forth in rights to such space under this Section 1.4 1.6 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereofrenew.
Appears in 1 contract
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability first refusal with respect to the space First Refusal Space described in an Availability the First Refusal Notice, then within fifteen seven (157) business days of delivery of such Availability the First Refusal Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention to exercise of its right of availability first refusal with respect to all of the entire space First Refusal Space described in such Availability Notice, the First Refusal Notice at the rent, for the term, term and upon the other fundamental economic terms and conditionsconditions pursuant to Section 1.4.2, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)below. If Tenant does not so notify Landlord within the fifteen such seven (157) business day periodperiod of Tenant’s exercise of its first refusal right, then subject to the terms of Section 1.4.4, below, Landlord shall be free to negotiate and enter into a lease for the space described in such Availability Notice First Refusal Space to anyone to whom Landlord it desires on any whatever terms Landlord desires. Notwithstanding anything to To the contrary contained herein, Tenant must elect to exercise its right extent Landlord enters into any lease of availability, if at all, First Refusal Space with respect to all of any such third party in accordance with the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen foregoing (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4.“Third Party Lease”), Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in under this Section 1.4 shall be continuous throughout subordinate to the Term rights of the tenant under the Third Party Lease with respect to the space leased and any extension encumbered pursuant to the provisions of the Third Party Lease, all extensions and renewals thereof, all pure expansion options contained therein which are stated as Landlord delivery obligations within a certain time frame for a certain amount of space, and all right of first offer expansions contained therein.
Appears in 1 contract
Samples: Office Lease (Ixia)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability first offer with respect to the space First Offer Space described in an Availability the First Offer Notice, then within fifteen seven (157) business days of after delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention to irrevocable exercise of its right of availability first offer with respect to all of the entire space First Offer Space described in such Availability Notice, at the rent, First Offer Notice on the Fundamental Terms provided for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)therein. If Tenant does not so notify Landlord within the fifteen such seven (157) business day periodperiod of Tenant’s exercise of its first offer right, then subject to the terms of Section 1.4.4, below, Landlord shall be free to negotiate and enter into a lease for the space described in such Availability Notice First Offer Space to anyone to whom Landlord it desires on any terms that Landlord desires. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityprovided that, if at all, with respect to all Landlord has not entered into any such lease within one hundred eighty (180) days after the date of delivery of the First Offer Notice, then, prior to entering into any lease of such First Offer Space, Landlord shall first again offer such space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability in accordance with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.41.3, including Section 1.4.4.provided that, Tenant’s right prior to the entering into a lease of availability as such space on terms that are more than 10% more favorable to the tenant than those set forth in this Section 1.4 the First Offer Notice (as determined on a net effective basis), Landlord shall terminate as first deliver any other First Officer Notice to all Tenant offering such space to Tenant on such reduced terms. Tenant shall respond to any such “re-offer” within five (5) days after delivery of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof“re-offer” notice.
Appears in 1 contract
Samples: Lease (Alector, Inc.)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s its right of availability first offer with respect to the space described in an Availability a First Offer Notice, then within fifteen ten (1510) business days Business Days of delivery of such Availability First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention describing the terms upon which Tenant is willing to exercise lease such First Offer Space. If Tenant timely exercises its right of availability with respect to the entire space described in such Availability Notice, at the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, first offer as set forth herein, Landlord and Tenant shall, within ten (10) Business Days after Landlord's receipt of Tenant's notice, meet and discuss, in Sections 1.4.3good faith, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term lease of the First Offer Space (an “Exercise Notice”the "First Offer Meeting"). If Landlord and Tenant does do not so notify Landlord reach agreement as to the material economic terms of the lease of the First Offer Space within ten (10) Business Days after the fifteen (15) business day periodFirst Offer Meeting, then subject Landlord, in its sole and absolute discretion, shall have the right to the terms of Section 1.4.4, below, Landlord shall be free terminate negotiations with Tenant and to lease the space described in such Availability Notice First Offer Space to anyone to whom Landlord desires on any terms that Landlord desires. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityfirst offer, if at all, with respect to all of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability first offer with respect to any space described in an Availability Notice a First Offer Notice, or if Tenant fails to respond to an Availability a First Offer Notice within fifteen ten (1510) business days Business Days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s 's right of availability first offer as set forth in this Section 1.4 Article 30 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereofFirst Offer Notice.
Appears in 1 contract
Samples: Lease Agreement (Redenvelope Inc)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability first offer with respect to the space described in an Availability the First Offer Notice, then within fifteen ten (1510) business days of delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention election to exercise its right of availability first offer with respect to the entire space described in the First Offer Notice on the terms contained in such Availability Notice, at the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)notice. If Tenant does not so notify Landlord within the fifteen ten (1510) business day period, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desires, provided that, prior to entering into a lease of such space on material economic terms that are more than 3% more favorable to the tenant than the Base Rent set forth in the First Offer Notice, Landlord shall first deliver another First Offer Notice to Tenant offering such space to Tenant on such reduced terms. Tenant shall respond to any such “re-offer” within five (5) business days after delivery of such “re-offer” notice. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityfirst offer, if at all, with respect to all of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If The First Offer Space shall be leased by Tenant does not exercise its right on all of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms and conditions of this Section 1.4, including Section 1.4.4., Tenant’s right of availability Lease except as set forth in the First Offer Notice and this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof1.3.
Appears in 1 contract
Samples: Lease (Aethlon Medical Inc)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability first offer with respect to the space described in an Availability the First Offer Notice, then within fifteen five (155) business days of after delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention to exercise of its right of availability first offer with respect to the entire space described in such Availability Notice, at the rent, for First Offer Notice and on the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)First Offer Economic Terms contained therein. If Tenant does not so notify Landlord exercise its right of first offer within the fifteen five (155) business day periodperiod (on all of the First Offer Economic Terms), then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desiresdesires (provided they are not materially more favorable to such third party than the First Offer Economic Terms, except to the extent commercially reasonably appropriate due to the improved creditworthiness of the proposed tenant compared to the creditworthiness of Tenant) and Tenant’s right of first offer shall thereupon automatically terminate and this Section 1.5 shall be null and void and of no further force or effect. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityfirst offer, if at all, with respect to all of the space comprising the First Offer Space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect thereof or object to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e.First Offer Economic Terms. For purposes hereof, until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 First Offer Economic Terms shall be continuous throughout the Term materially more favorable to a third party if such First Offer Economic Terms reflect a net effective rental rate (including any rent abatement and Tenant Improvement costs/allowance and any extension thereofother economic concessions) less than ninety percent (90%) of the net effective rental rate for such First Offer Space as those proposed by Landlord in the First Offer Notice to Tenant.
Appears in 1 contract
Samples: Lease (Poseida Therapeutics, Inc.)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability first offer with respect to the space First Offer Space described in an Availability the First Offer Notice, then within fifteen seven (157) business days of after delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention to irrevocable exercise of its right of availability first offer with respect to all of the entire space First Offer Space described in such Availability Notice, at the rent, First Offer Notice on the Fundamental Terms provided for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)therein. If Tenant does not so notify Landlord within the fifteen such seven (157) business day periodperiod of Tenant’s exercise of its first offer right, then subject to the terms of Section 1.4.4, below, Landlord shall be free to negotiate and enter into a lease for the space described in such Availability Notice First Offer Space to anyone to whom Landlord it desires on any terms that Landlord desires. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityprovided that, if at all, with respect to all Landlord has not entered into any such lease within one hundred eighty (180) days after the date of delivery of the First Offer Notice, then, prior to entering into any lease of such First Offer Space, Landlord shall first again offer such space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability in accordance with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.41.3, including Section 1.4.4.provided that, Tenant’s right prior to the entering into a lease of availability as such space on terms that are more than 10% more favorable to the tenant than those set forth in this Section 1.4 shall terminate the First Offer Notice (as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated earlydetermined on a net effective present value basis). The rights in this Section 1.4 Landlord shall be continuous throughout the Term and first deliver any extension thereofother First Offer Notice to Tenant offering such space to Tenant on such recued terms. Tenant shall respond to any such “re-offer” within five (5) days after delivery of such “re-offer” notice.
Appears in 1 contract
Samples: Lease (Graphite Bio, Inc.)
Procedure for Acceptance. If Tenant wishes to exercise TenantTxxxxx’s right of availability first offer with respect to the space First Offer Space described in an Availability the First Offer Notice, then within fifteen twenty (1520) business days of after delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention to irrevocable exercise of its right of availability first offer with respect to all of the entire space First Offer Space described in such Availability the First Offer Notice on the Fundamental Terms provided for therein. Tenant shall be required to lease all of the space offered in a particular First Offer Notice, at the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)shall have no right to lease any lesser portion thereof. If Tenant does not so notify Landlord within the fifteen such twenty (1520) business day periodperiod of Txxxxx’s exercise of its first offer right, then subject to the terms of Section 1.4.4, below, Landlord shall be free to negotiate and enter into a lease for the space described in such Availability Notice First Offer Space to anyone to whom Landlord it desires on any terms Landlord desires. Notwithstanding anything to the contrary contained hereinthat are not more than ninety percent (90%), Tenant must elect to exercise its right of availabilityon a net economic basis, if at all, with respect to all of the Fundamental Terms initially provided (the "Materially Better Terms"). If (i) Landlord has not entered into any such lease within one hundred eighty (180) days after the date of delivery of the First Offer Notice, or (ii) Landlord intends to enter into a lease on Materially Better Terms, then, prior to entering into any lease of such First Offer Space, Landlord shall first again offer such space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability in accordance with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.41.3., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof.
Appears in 1 contract
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s 's right of availability first offer with respect to the space described in an Availability the First Offer Notice, then within fifteen seven (157) business days of delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord (the "First Offer Exercise Notice") of Tenant’s intention 's election to exercise its right of availability first offer with respect to the entire space described in the First Offer Notice on the terms contained in such Availability Notice, at the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)notice. If Tenant does not so notify Landlord within the fifteen such seven (157) business day period, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desires; provided, that prior to entering a lease with a third party tenant on economic terms which, on a net effective, present value basis, are more than 7% more favorable to the tenant than the terms contained in the First Offer Notice, Landlord shall first deliver a revised First Offer Notice to Tenant on such more favorable terms in accordance with the procedure set forth above. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityfirst offer, if at all, with respect to all of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof791223.03/WLA 186772-00003/3-7-19/gjn/gjn -5- [Edgewater Business Park] [Allogene Therapeutics, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof.Inc.]
Appears in 1 contract
Samples: Lease (Allogene Therapeutics, Inc.)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability first offer with respect to the space First Offer Space described in an Availability the First Offer Notice, then within fifteen seven (157) business days of after delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention to irrevocable exercise of its right of availability first offer with respect to all of the entire space First Offer Space described in such Availability Notice, at the rent, First Offer Notice on the Fundamental Terms provided for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)therein. If Tenant does not so notify Landlord within the fifteen such seven (157) business day periodperiod of Tenant’s exercise of its first offer right, then subject to the terms of Section 1.4.4, below, Landlord shall be free to negotiate and enter into a lease for the space described in such Availability Notice First Offer Space to anyone to whom Landlord it desires on any terms that Landlord desires. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityprovided that, if at all, with respect to all Landlord has not entered into any such lease within one hundred eighty (180) days after the date of delivery of the First Offer Notice, then, prior to entering into any lease of such First Offer Space, Landlord shall first again offer such space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability in accordance with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.41.3, including Section 1.4.4.provided that, Tenant’s right prior to the entering into a lease of availability as such space on terms that are more than 10% more favorable to the tenant than those set forth in this Section 1.4 the First Offer Notice (as determined on a net effective present value basis), Landlord shall terminate as first deliver any other First Officer Notice to all Tenant offering such space to Tenant on such reduced terms. Tenant shall respond to any such “re-offer” within five (5) days after delivery of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof“re-offer” notice.
Appears in 1 contract
Samples: Lease (MyoKardia Inc)
Procedure for Acceptance. If Tenant wishes to exercise ------------------------ Tenant’s 's right of availability first offer with respect to the space described in an Availability the First Offer Notice, then within fifteen ten (1510) business days of delivery Tenant's receipt of such Availability Notice to Tenantthe First Offer Notice, Tenant shall deliver written notice to Landlord of Tenant’s intention ("TENANT'S ELECTION NOTICE") pursuant to exercise which Tenant shall elect either to: (i) lease the entire First Offer Space described in the First Offer Notice at the First Offer Rent and upon the terms contained in such notice; or (ii) refuse to lease the First Offer Space, specifying that Tenant is not interested in exercising its right of availability with respect to the entire space described in such Availability Notice, at the rent, first offer for the termFirst Offer Space, in which event Tenant's right of first offer contained in this Section 1.4 shall terminate and upon the other fundamental economic terms be of no further force or effect and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”). If Tenant does not so notify Landlord within the fifteen (15) business day period, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability Notice First Offer Space or any portion thereof to anyone to whom Landlord desires on any terms Landlord desires. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availability, if at all, with respect to all of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise notify Landlord of its election of any of the options in clauses (i) or (ii) hereinabove, Tenant shall be deemed to have elected the option in clause (ii). Notwithstanding the foregoing to the contrary, if pursuant to clause (ii) of Section 1.4 above, the First Offer Space is redefined to consist of certain space located on the 4th or 5th floors of the Building as described therein, but Tenant refuses or is deemed to refuse to lease such First Offer Space when such space becomes available as provided above, the First Offer Space shall thereupon be redefined again to mean the approximately 12,913 rentable square foot space on the 3rd floor of the Building depicted on Exhibit A, and Landlord's first offer right of availability shall be in effect (and --------- not terminated) with respect to any such space described when such space becomes available for lease as provided in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereofabove.
Appears in 1 contract
Samples: Office Lease (Homestore Com Inc)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability first offer with respect to the space First Offer Space described in an Availability the First Offer Notice, then within fifteen ten (1510) business days of after delivery of such Availability the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord of Tenant’s intention to irrevocable exercise of its right of availability first offer with respect to all of the entire space First Offer Space described in such Availability Notice, at the rent, First Offer Notice on the Fundamental Terms provided for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)therein. If Tenant does not so notify Landlord within the fifteen such ten (1510) business day periodperiod of Tenant’s exercise of its first offer right, then subject to the terms of Section 1.4.4, below, Landlord shall be free to negotiate and enter into a lease for the space described in such Availability Notice First Offer Space to anyone to whom Landlord it desires on any terms that Landlord desires. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityprovided that, if at all, with respect to all Landlord has not entered into any such lease within one hundred eighty (180) days after the date of delivery of the First Offer Notice, then, prior to entering into any lease of such First Offer Space, Landlord shall first again offer such space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability in accordance with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.41.3, including Section 1.4.4.provided that, Tenant’s right prior to the entering into a lease of availability as such space on terms that are more than 5% more favorable to the tenant than those set forth in this Section 1.4 the First Offer Notice (as determined on a net effective present value basis), Landlord shall terminate as first deliver any other First Officer Notice to all Tenant offering such space to Tenant on such reduced terms. Tenant shall respond to any such “re-offer” within five (5) days after delivery of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof“re-offer” notice.
Appears in 1 contract
Samples: Lease (Bolt Biotherapeutics, Inc.)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability rights set forth in this Section 1.2 with respect to the space described in an the Availability Notice, then within fifteen seven (157) business days of delivery of such the Availability Notice to Tenant, Tenant shall deliver notice (the “Availability Exercise Notice”) to Landlord of Tenant’s intention election to exercise its right of availability rights set forth in this Section 1.2 with respect to the entire all of one or more then separately demised units of space described in the Availability Notice on the terms contained in such Availability Notice, at the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)notice. If Tenant does not so notify Landlord exercise its right to lease one or more separately demised units of the Available Space in accordance with the terms hereof within the fifteen ten (1510) business day period, then subject to the terms of Section 1.4.4, below, (i) Landlord shall be free to lease the such space described in such Availability Notice to anyone to whom Landlord desires on any terms Landlord desires. Notwithstanding anything desires including renewal and expansion rights in connection therewith (subject to Tenant’s continuing rights hereunder to deliver an additional Request Notice for any space not identified in the contrary contained herein, Tenant must elect to exercise its right of availability, if at all, with respect to all of the space offered by Landlord to Tenant at any particular timeAvailability Notice, and provided that Landlord shall be obligated to notify Tenant may not elect to lease only of space that becomes Available Space within the three (3) month period following the delivery of a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen Request Notice), and (15ii) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s right of availability to any such space identified as set forth Available Space in this Section 1.4 the Availability Notice shall terminate as to all and be of no further force or effect and such space shall no longer be considered a part of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereofDesignated Area.
Appears in 1 contract
Samples: Office Lease (Docusign Inc)
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s Txxxxx's right of availability first offer with respect to the space described in an Availability a First Offer Notice, then within fifteen (15) business days of delivery of such Availability First Offer Notice to Tenant (“Tenant’s Exercise Period”), Tenant shall deliver notice to Landlord of Tenant’s 's intention to exercise its right of availability first offer with respect to the entire space First Offer Space described in such Availability Notice, at First Offer Notice on the rent, for the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, set forth in Sections 1.4.3, 1.4.5 and 1.4.6 below and for a term that is coterminous with the Term (an “Exercise Notice”)contained therein. If Tenant does not so notify Landlord within the fifteen (15) business day period, then then, subject to the terms of Section 1.4.4, below1.3.1 above, Landlord shall be free to lease the space described in such Availability First Offer Notice to anyone to whom Landlord desires on any terms Landlord desires. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of availabilityfirst offer, if at {3925-00031/01363433;7} -6- SHORES CENTERSoleno Therapeutics, Inc. all, with respect to all of the space First Offer Space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability first offer with respect to any space the First Offer Space described in an Availability a First Offer Notice or if Tenant fails to respond to an Availability a First Offer Notice within fifteen (15) business days of delivery thereof, then subject to the terms of this Section 1.4, including Section 1.4.4., Tenant’s Txxxxx's right of availability first offer as set forth in this Section 1.4 1.3 shall terminate as not apply for twelve (12) months thereafter to all the extent of the space described in such Availability covered by the First Offer Notice until and, subject to the space again becomes available (i.e.terms of Section 1.3.1 above, until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout free to lease such space and/or otherwise grant options or rights to such space on any terms and conditions whatsoever free and clear of the Term and any extension thereofFirst Offer Right.
Appears in 1 contract
Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of availability first offer with respect to the space described in an Availability the First Offer Notice, then within fifteen (15) business days of after delivery of such Availability a particular First Offer Notice to Tenant, Tenant shall deliver written notice to Landlord of Tenant’s intention election to exercise its right of availability first offer with respect to the entire any specific portion of space as described in the First Offer Notice on the terms contained in such Availability Noticenotice. In the event that, at concurrently with Tenant’s exercise of the rentfirst offer right, for Tenant notifies Landlord that it does not accept the term, and upon the other fundamental economic terms and conditions, including, but not limited to, rental concessions and improvement allowances, First Offer Rent set forth in Sections 1.4.3the First Offer Notice, 1.4.5 and 1.4.6 below and for a term that is coterminous the First Offer Rent shall be determined in accordance with the Term procedures set forth in Section 2.2.2 of this Office Lease (an “Exercise as amended by Section 8 of the Sixth Amendment to Office Lease); otherwise, the First Offer Rent shall be as set forth in Landlord’s First Offer Notice”). If Tenant does not so notify Landlord within the fifteen (15) business day periodperiod of Tenant’s exercise of its first offer right, then subject to the terms of Section 1.4.4, below, Landlord shall be free to lease the space described in such Availability the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desires. Notwithstanding anything to , for a period of one hundred eighty (180) days commencing upon the contrary contained herein, Tenant must elect to exercise its right of availability, if at all, with respect to all expiration of the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereof. If Tenant does not exercise its right of availability with respect to any space described in an Availability Notice or if Tenant fails to respond to an Availability Notice within fifteen (15) business days of delivery thereofday period, then subject after which time Tenant’s rights to the terms of such space under this Section 1.4, including Section 1.4.41.6 shall renew., Tenant’s right of availability as set forth in this Section 1.4 shall terminate as to all of the space described in such Availability Notice until the space again becomes available (i.e., until such time as Landlord enters into an Interim Lease and such Interim Lease expires or is terminated early). The rights in this Section 1.4 shall be continuous throughout the Term and any extension thereof.”
Appears in 1 contract