Common use of Procedure for Acceptance Clause in Contracts

Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of first offer with respect to the space described in the First Offer Notice, then within five (5) business days of Tenant’s receipt of the First Offer Notice to Tenant, Tenant shall deliver notice (the “First Offer Exercise Notice”) to Landlord of Tenant’s election to exercise its right of first offer with respect to the entire space described in the First Offer Notice on the terms contained in such 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, in which case the parties shall follow the procedure, and the Option Rent shall be determined, as set forth in Section 2.4, below. If Tenant does not so deliver the First Offer Exercise Notice to Landlord within such five (5) business day period, then Landlord shall be free to lease the space described in the 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 first 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.

Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of first offer with respect to the space described in the a First Offer Notice, then within five seven (57) business days of Tenant’s receipt delivery of the such First Offer Notice to Tenant, Tenant shall deliver notice (the “First Offer Exercise Notice”) to Landlord of Tenant’s election intention to exercise its right of first offer with respect to the entire space described in the such First Offer Notice on the terms contained in such 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, in which case the parties shall follow the procedure, and the Option Rent shall be determined, as set forth in Section 2.4, belowtherein. If Tenant does not so deliver the First Offer Exercise Notice to notify Landlord within such five the seven (57) business day period, then Landlord shall be free to lease the space described in the such First Offer Notice to anyone to whom Landlord desires on any terms Landlord desires. Notwithstanding [Decipher Biosciences, Inc.] anything to the contrary contained herein, Tenant must elect to exercise its right of first 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 first offer with respect to any space described in a First Offer Notice or if Tenant fails to respond to a First Offer Notice within seven (7) business days of delivery thereof, then Tenant’s right of first offer as set forth in this Section 1.3 shall terminate as to all of the space described in such First Offer Notice.

Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of first offer 's rights set forth in this Section 1.2 with respect to the space described in the First Offer Notice, then within five ten (510) business days of Tenant’s receipt after delivery of the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord (the “"First Offer Exercise Notice”") to Landlord of Tenant’s 's election to exercise its right of first offer with respect to the entire space described in the lease such First Offer Notice Space on the terms contained in such 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, in which case the parties shall follow the procedure, and the Option Rent shall be determined, as set forth in Section 2.4, below. If Tenant does not so deliver exercise its right to lease the First Offer Exercise Notice to Landlord Space within such five the ten (510) business day period, then Landlord shall be free to lease the space described in 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 first offerFirst 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.

Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right 's Right of first offer First Offer with respect to the space described in the a First Offer Availability Notice, then within five (5) business days of Tenant’s receipt delivery of the such First Offer Availability Notice to Tenant, Tenant shall deliver notice to Landlord (the “a "First Offer Exercise Acceptance Notice”") to Landlord of Tenant’s election to 's exercise its right of first offer the Right of First Offer with respect to the entire space described in the such First Offer Availability Notice on the terms contained in such 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, in which case the parties shall follow the procedure, and the Option Rent shall be determined, as set forth in Section 2.4, belowtherein. If Tenant does not so deliver the a First Offer Exercise Acceptance Notice to Landlord within such the five (5) business day period, then Landlord shall be free to lease the space described in the 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 first offerFirst 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 the Right of First Offer with respect to the space described in a First Offer Availability Notice or if Tenant fails to respond to a First Offer Availability Notice within five (5) business days of delivery thereof, then Txxxxx's Right of First Offer as set forth in this exhibit shall terminate as to all of the First Offer Space.

Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of first offer with respect to the space described in the First Offer Notice, then within five ten (510) business days of Tenant’s receipt delivery of the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord (the “First Offer Exercise Notice”) to Landlord of Tenant’s election to exercise its right of first offer with respect to the entire space described in the First Offer Notice on the terms contained in such noticenotice and this Section 2.3, and upon, and concurrent with, such exercise, Tenant may, at its option, object to the First Offer Rent contained in the First Offer Notice, in which case the parties shall follow the procedure, and the Option Rent shall be determined, as set forth in Section 2.42.3.8, below. If Tenant does not so timely deliver the First Offer Exercise Notice to Landlord within such five (5) business day periodNotice, then Landlord shall be free to lease the space described in the 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 first 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.

Procedure for Acceptance. If Tenant wishes to exercise Tenant’s 's right of first offer with respect to the space described in the First Offer Notice, then within five seven (57) business days of Tenant’s receipt delivery of the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord (the “"First Offer Exercise Notice”") to Landlord of Tenant’s 's election to exercise its right of first offer with respect to the entire space described in the First Offer Notice on the terms contained in such 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, in which case the parties shall follow the procedure, and the Option Rent shall be determined, as set forth in Section 2.4, below. If Tenant does not so deliver the First Offer Exercise Notice to notify Landlord within such five seven (57) business day period, then Landlord shall be free to lease the space described in 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 first 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.. 791223.03/WLA 186772-00003/3-7-19/gjn/gjn -5- [Edgewater Business Park] [Allogene Therapeutics, Inc.]

Procedure for Acceptance. If Tenant wishes to exercise Tenant’s 's right of first offer with respect to the space described in the First Offer Notice, then within five (5) business days of Tenant’s receipt delivery of the First Offer Notice to Tenant, Tenant shall deliver notice (the “First Offer Exercise Notice”) to Landlord of Tenant’s election that Tenant either intends to or declines to exercise its right of first offer with respect to the entire space described in the First Offer Notice on the terms contained in such notice, and upon, and concurrent with, such exercise, Tenant may, at its option, object . Tenant's failure to the First Offer Rent contained in the First Offer Notice, in which case the parties shall follow the procedure, and the Option Rent shall be determined, as set forth in Section 2.4, below. If Tenant does not so deliver the First Offer Exercise Notice to notify Landlord within such the five (5) business day periodperiod shall be deemed to be notice that Tenant declines to exercise it rights hereunder, then and Landlord shall then be free to lease the space described in the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desiresdesires (such leases consummated thereafter to be known as "New Leases"). Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of first offer, if at all, with respect to the lesser of (i) all of the space offered by Landlord to Tenant at any particular timein the First Offer Notice, and (ii) ten thousand (10,000) square feet of the First Offer Space, provided that the portion of the First Offer Space which Tenant may does not elect to lease only under this Section 40.1.2 shall be in a portion thereof.marketable configuration, as determined by Landlord, in Landlord's reasonable discretion. 40.1.3 First

Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of first offer with respect to the space described in the First Offer Notice, then within five ten (510) business days of Tenant’s receipt delivery of the First Offer Notice to Tenant, Tenant shall deliver notice (the “First Offer Exercise Notice”) to Landlord of Tenant’s election to exercise its right of first offer with respect to the entire space described in the First Offer Notice on the terms contained in such 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, in which case the parties shall follow the procedure, and the Option Rent shall be determined, as set forth in Section 2.4, below. If Tenant does not so deliver the First Offer Exercise Notice to notify Landlord within such five the ten (510) business day period, then Landlord shall be free to lease the space described in 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 first 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. The First Offer Space shall be leased by Tenant on all of the terms and conditions of this Lease except as set forth in the First Offer Notice and this Section 1.3.

Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of first offer with respect to the space described in the First Offer Notice, then within five ten (510) business days of Tenant’s receipt delivery of the First Offer Notice to Tenant, Tenant shall deliver notice (the “First Offer Exercise Notice”) to Landlord of Tenant’s election to exercise of its right of first offer with in respect to the entire space described in the First Offer Notice on at the First Offer Rent and upon the terms contained in such 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, in which case the parties shall follow the procedure, and the Option Rent shall be determined, as set forth in Section 2.4, below. If Tenant does not so deliver the First Offer Exercise Notice to Landlord exercise its right of first offer within such five ten (510) business day period, then Landlord shall be free to lease the space described in the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desires, whereupon Tenant’s right of first offer shall terminate with respect to such First Offer Space. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of first 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.

Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of first offer with respect to the space described in the First Offer Notice, then within five (5) business days of Tenant’s receipt delivery of the First Offer Notice to Tenant, Tenant shall deliver notice (the “First Offer Exercise Notice”) to Landlord of Tenant’s election to exercise of its right of first offer with respect to the entire space described in the First Offer Notice on the terms contained in such 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, in which case the parties shall follow the procedure, and the Option First Offer Rent shall be determined, as set forth in Section 2.4, 2.3.4 below. If Tenant does not so deliver the First Offer Exercise Notice to notify Landlord within such the five (5) business day period, then then, except as otherwise provided herein, Landlord shall be free to lease the space described in 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 first 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.

Procedure for Acceptance. If Tenant wishes to exercise Tenant’s Xxxxxx's right of first offer with respect to the space described in the First Offer Notice, then within five seven (57) business days of Tenant’s receipt after delivery of the First Offer Notice to Tenant, Tenant shall deliver notice (the “First Offer Exercise Notice”) to Landlord of Tenant’s 's election to exercise its right of first offer with respect to the entire space described in the First Offer Notice on the terms contained in such 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, in which case the parties shall follow the procedure, and the Option Rent shall be determined, as set forth in Section 2.4, below. If Tenant does not so deliver the First Offer Exercise Notice to notify Landlord within such five the seven (57) business day period, then Landlord shall be free to lease the space described in the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desires, provided that, prior to entering into a lease on net economic terms (including all required payments, economic concessions, and allowances to be provided and the length of the prospective term), calculated on a present value basis, that are more than 5% more favorable to the proposed tenant than those set forth in the First Offer Notice, Landlord shall be required to first re-offer such space to Tenant on such reduced terms, in accordance with this Section 1.3. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of first 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.

Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of first offer with respect to the space described in the First Offer Notice, then within five ten (510) business days of Tenant’s receipt delivery of the First Offer Notice to Tenant, Tenant shall deliver notice (the “First Offer Exercise Notice”) to Landlord of Tenant’s election to exercise its right of first offer with respect to the entire space described in the First Offer Notice on the terms contained in such noticenotice and this Section 1.3; provided, and upon, and concurrent with, such exercisehowever, Tenant may, at its option, object to the First Offer Rent contained in the First Offer Notice, in which case the parties shall follow the procedure, and the Option First Offer Rent shall be determined, as set forth in Section 2.42.2.4, below. If Tenant does not so deliver the First Offer Exercise Notice to notify Landlord within such five ten (510) business day period, then Landlord shall be free to lease the space described in the 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 first 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.

Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of first offer with respect to the space described in the First Offer Notice, then within five seven (57) business days of Tenant’s receipt delivery of the First Offer Notice to Tenant, Tenant shall deliver notice (the “First Offer Exercise Notice”) to Landlord of Tenant’s election intention to exercise its right of first offer with respect to the entire space described in the First Offer Notice on the terms contained in such 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, in which case the parties shall follow the procedure, and the Option Rent shall be determined, as set forth in Section 2.4, below. If Tenant does not so deliver the First Offer Exercise Notice to notify Landlord within such five the seven (57) business day period, then Landlord shall be free to lease the space described in the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desires; provided, however, if, within six (6) months of delivery of any First Offer Notice, Landlord materially changes the configuration of the space being offered, Landlord shall again offer the space to Tenant as First Offer Space pursuant to this Section 8.1 if no Superior Right Holder desires to lease such space. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of first 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.

Procedure for Acceptance. If Tenant wishes to exercise Tenant’s 's right of first offer with respect to the space described in the First Offer Notice, then within five (5) business days of Tenant’s receipt after delivery of the First Offer Notice to Tenant, Tenant shall deliver notice (the “First Offer "ROFO Exercise Notice”") to Landlord of Tenant’s election to 's exercise of its right of first offer with respect to the entire space described in the First Offer Notice on the terms contained in such 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, in which case the parties shall follow the procedure, and the Option Rent shall be determined, as set forth in Section 2.4, below. If Tenant does not so deliver exercise its right of first offer within the First Offer Exercise Notice to Landlord within such five (5) business day periodperiod (on all of the First Offer Economic Terms), then Landlord shall be free to lease the space described in the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desiresand Tenant's right of first offer with respect to such First Offer Space shall, notwithstanding anything in this Lease to the contrary (but subject to Section 1.5.4 below), automatically terminate and this Section 1.5 shall be deemed 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 first offer, if at all, with respect to all of the space comprising the First Offer Space offered by Landlord to Tenant at any particular timetime (including any space in the Project which is not part of the First Refusal Space), and Tenant may not elect to lease only a portion thereof.

Procedure for Acceptance. If Tenant wishes to exercise Tenant’s its right of first offer with respect to the space described in the a First Offer Notice, then within five ten (510) business days Business Days of Tenant’s receipt delivery of the such First Offer Notice to Tenant, Tenant shall deliver notice (to Landlord describing the “terms upon which Tenant is willing to lease such First Offer Exercise Notice”) to Landlord of Tenant’s election to exercise Space. If Tenant timely exercises its right of first offer with respect to 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 good faith, the entire space described in lease of the First Offer Notice on Space (the "First Offer Meeting"). If Landlord and Tenant do not reach agreement as to the material economic terms contained in such notice, and upon, and concurrent with, such exercise, Tenant may, at its option, object to of the lease of the First Offer Rent contained in Space within ten (10) Business Days after the First Offer NoticeMeeting, then Landlord, in which case its sole and absolute discretion, shall have the parties shall follow the procedure, right to terminate negotiations with Tenant and the Option Rent shall be determined, as set forth in Section 2.4, below. If Tenant does not so deliver the to lease such First Offer Exercise Notice to Landlord within such five (5) business day period, then Landlord shall be free to lease the space described in the First Offer Notice 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 first 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 first offer with respect to any space described in a First Offer Notice, or if Tenant fails to respond to a First Offer Notice within ten (10) Business Days of delivery thereof, then Tenant's right of first offer as set forth in this Article 30 shall terminate as to all of the space described in such First Offer Notice.

Procedure for Acceptance. If Tenant wishes to exercise Tenant’s 's right of first offer with respect to the space described in the First Offer Notice, then within five ten (510) business days of Tenant’s receipt delivery of the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord (the “"First Offer Exercise Notice”") to Landlord of Tenant’s 's election to exercise its right of first offer with respect to the entire space described in the First Offer Notice on the terms contained in such 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, in which case the parties shall follow the procedure, and the Option Rent shall be determined, as set forth in Section 2.4, below. If Tenant does not so deliver the First Offer Exercise Notice to notify Landlord within such five ten (510) business day period, then Landlord shall be free to lease the space described in the 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 first 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. Notwithstanding anything to the contrary, in connection with any First Offer Notice where the "First Offer Commencement Date," as that term is defined in Section 1.3.5 below, is anticipated by Landlord to occur on a date when less than two (2) full calendar years remain in the Lease Term, Tenant shall have no right to exercise its right under this Section 1.3, unless, and to the extent, Tenant, concurrently and timely delivers the "Exercise Notice," as that term is defined in Section 2.2.3 below, electing to extend the initial Lease Term, pursuant to Section 2.2.3 below.

Procedure for Acceptance. If Tenant wishes to exercise Tenant’s 's right of first offer with respect to the space described in the First Offer Notice, then within five seven (57) business days of Tenant’s receipt delivery of the First Offer Notice to Tenant, Tenant shall deliver notice to Landlord (the “"First Offer Exercise Notice”") to Landlord of Tenant’s 's election to exercise its right of first offer with respect to the entire space described in the First Offer Notice on the terms contained in such 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, in which case the parties shall follow the procedure, and the Option Rent shall be determined, as set forth in Section 2.4, below. If Tenant does not so deliver the First Offer Exercise Notice to notify Landlord within such five seven (57) business day period, then Landlord shall be free to lease the space described in 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 10% more favorable to the tenant than the Fundamental 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 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 first offer, if at all, with respect to all of the space offered by Landlord to Tenant at any in the particular timeFirst Offer Notice, and Tenant may not elect to lease only a portion thereof.

Procedure for Acceptance. If Tenant wishes to exercise Tenant’s right of first offer its First Offer Right with respect to the space described in the First Offer Notice, then within five ten (510) business days of Tenant’s receipt delivery of the First Offer Notice to Tenant, Tenant shall deliver notice (the “First Offer Exercise Notice”) to Landlord of Tenant’s election to exercise its right of first offer First Offer Right with respect to the entire space described in the First Offer Notice on the terms contained in such 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, in which case the parties shall follow the procedure, and the Option Rent shall be determined, as set forth in Section 2.4, below. If Tenant does not so deliver the First Offer Exercise Notice to notify Landlord within such five the ten (510) business day period, then Landlord shall be free to lease the space described in the First Offer Notice to anyone to whom Landlord desires on any terms Landlord desires. Notwithstanding the foregoing, prior to leasing such space to a third party on net economic terms which are more than seven and one-half percent (7.5%) more favorable to a tenant than those contained in the First Offer Notice, Landlord shall first deliver another First Offer Notice to Tenant on such more favorable terms. Notwithstanding anything to the contrary contained herein, Tenant must elect to exercise its right of first offerFirst Offer Right, 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.

Procedure for Acceptance. If Tenant wishes to exercise ------------------------ Tenant’s 's right of first offer with respect to the space applicable full floor First Offer Space described in the First Offer Notice, then within five ten (510) business days of Tenant’s 's receipt of the applicable First Offer Notice to TenantNotice, Tenant shall deliver written notice to Landlord ("TENANT'S ELECTION NOTICE") pursuant to which Tenant shall elect either to: (i) lease the “entire First Offer Exercise Notice”) to Landlord of Tenant’s election to exercise its right of first offer with respect to the entire space Space described in the First Offer Notice on at the First Offer Rent and upon the terms contained in such notice, and upon, and concurrent with, such exercise, Tenant may, at its option, object ; or (ii) refuse to lease the First Offer Rent contained Space, specifying that Tenant is not interested in the exercising its right of first offer for such First Offer NoticeSpace, in which case the parties event Tenant's right of first offer contained in this Section 1.4 shall follow the procedure, terminate and the Option Rent shall be determined, as set forth in Section 2.4, below. If Tenant does not so deliver the First Offer Exercise Notice to Landlord within such five (5) business day period, then of no further force or effect and Landlord shall be free to lease the space described in the First Offer Notice Space or any portion thereof to anyone to whom Landlord desires on any terms Landlord desires. Notwithstanding anything to If Tenant does not notify Landlord of its election of any of the contrary contained hereinoptions in clauses (i) or (ii) hereinabove, Tenant must elect shall be deemed to exercise its right of first offer, if at all, with respect to all of have elected the space offered by Landlord to Tenant at any particular time, and Tenant may not elect to lease only a portion thereofoption in clause (ii).