Procedure for Offer Sample Clauses
The "Procedure for Offer" clause defines the steps and requirements that must be followed when one party wishes to make an offer under the agreement. Typically, this clause outlines how offers should be communicated, such as requiring written notice, and may specify the information that must be included or the timeframe for response. By establishing a clear and consistent process for making offers, this clause helps prevent misunderstandings and disputes, ensuring that both parties know how to properly initiate contractual actions.
Procedure for Offer. Landlord shall notify Tenant (the “First Offer Notice”) from time to time when Landlord determines that Landlord shall commence the marketing of any First Offer Space because such space shall become available for lease to third parties, where no holder of a Superior Right desires to lease such space. The First Offer Notice shall describe the space so offered to Tenant and shall set forth Landlord’s proposed material economic terms and conditions applicable to Tenant’s lease of such space (collectively, the “Economic Terms”), including the proposed term of lease and the proposed rent payable for the First Offer Space. Notwithstanding the foregoing, however, if the First Offer Notice is delivered to Tenant pursuant to the immediately preceding sentence or the next sentence below on or before the date which is eighteen (18) months after the Commencement Date, the following terms (“Agreed Terms”) shall apply: (i) as to First Offer Space in the Tower, the Basic Rental and Improvement Allowance shall be at the same rate per rentable square foot as applicable to the initial Tower Premises (and Basic Rental shall be subject to abatement at the same times as applicable to the initial Premises under Section 3(a) above), the Lease Term shall be co-terminous with the Lease Term for the initial Tower Premises and the Economic Terms shall reflect this Section 32(a)(i); (ii) as to First Offer Space in the Annex which is, at such time, office space, the Basic Rental and Improvement Allowance shall be at the same rate per rentable square foot as applicable to the initial Annex Premises (and Basic Rental shall be subject to abatement at the same time as applicable to the initial Annex Premises under Section 3(a) above), the Lease Term shall be co-terminous with the Lease Term for the initial Premises, Landlord shall provide the existing HVAC system in good working order and the Economic Terms shall reflect this Section 32(a)(ii); and (iii) as to First Offer Space in the Annex which is then warehouse space, the Annual Basic Rental shall be $9.00 per rentable square foot to the extent the term of Tenant’s lease of such space is within the first (1st) Lease Year, which rate shall increase by $.50 per rentable square foot annually for each subsequent Lease Year, no Improvement Allowance or rent abatement shall be provided, such space shall be delivered in its then “as is” condition, the Lease Term shall be co-terminous with the Lease Term for the Premises and the Economic Terms...
Procedure for Offer. Subject to the terms hereof, Landlord shall notify Tenant (the “First Offer Notice”) prior to entering into any lease with a third party for the First Offer Space, which notice shall outline the base rent, allowance amounts if any, length of term, and other economic terms on which Landlord would be willing to lease the First Offer Space (as set forth in such proposal) to Tenant (the “Fundamental Terms”). Pursuant to such First Offer Notice, Landlord shall offer to lease to Tenant the applicable First Offer Space on the Fundamental Terms.
Procedure for Offer. Landlord shall notify Tenant (the “First Refusal Notice”) from time-to-time when and if Landlord receives a “bona-fide third-party offer” for the First Refusal Space. Pursuant to such First Refusal Notice, Landlord shall offer to lease to Tenant the applicable First Refusal Space. The First Refusal Notice shall describe the First Refusal Space and shall identify the “First Refusal Space Terms” (as that term is defined in Section 1.4.2 below). For purposes of this Section 1.4, a “bona-fide third-party offer” shall mean a counter-offer received by Landlord to lease First Refusal Space from an unaffiliated and qualified third party which Landlord would otherwise be willing to accept. For purposes of example only, the following would each constitute a bona-fide third-party offer:
(a) Landlord receives a request for proposal from an unaffiliated and qualified third party. Landlord responds to the request for proposal with a lease proposal and subsequently receives a written bona-fide counter proposal from the unaffiliated and qualified third party (or the third party accepts Landlord’s proposal).
(b) Landlord receives a written offer to lease from an unaffiliated and qualified third party. Landlord responds to the offer with a written counter offer and subsequently receives a bona-fide counter to Landlord’s counter offer from the unaffiliated and qualified third party (or the third party accepts Landlord’s proposal).
Procedure for Offer. Landlord shall notify Tenant in writing (the “First Offer Notice”) when and if the First Offer Space or any portion thereof becomes available for lease to third parties. Pursuant to such First Offer Notice, Landlord shall offer to lease to Tenant the First Offer Space. A First Offer Notice shall describe the space so offered to Tenant and shall set forth the “First Offer Rent,” as that term is defined in Section 1.5.3 below, and the other material economic terms and non-economic terms upon which Landlord is willing to lease such space to Tenant. Notwithstanding any provision to the contrary contained herein, as Landlord is in the process of negotiating the Current TPT Lease, and as it is contemplated that such Current TPT Lease will contain an option to extend the initial term identified therein, Landlord may deliver a First Offer Notice to Tenant with respect to Suite 525 up to thirteen (13) months prior to the then-scheduled expiration date of the Current TPT Lease. Tenant’s rights with respect to Suite 525 identified in any such First Offer Notice delivered by Landlord to Tenant shall be the same as when Tenant receives any other First Offer Notice (i.e., if Tenant wishes to exercise Tenant’s right of first offer with respect to Suite 525, then within ten (10) days following delivery of such First Offer Notice to Tenant, Tenant shall deliver written notice to Landlord of Tenant’s intention to exercise its right of first offer with respect to the entire space described in such First Offer Notice on the terms contained therein).
Procedure for Offer. Landlord shall notify Tenant (the “First Offer Notice”) from time to time when the First Offer Space becomes available for lease to third parties, provided that no Superior Right Holder wishes to lease such space. Pursuant to such First Offer Notice, Landlord shall offer to lease to Tenant the First Offer Space. The First Offer Notice shall set forth the “First Offer Rent,” as that term is defined in Section 1.2.3 below, and the other economic terms upon which Landlord is willing to lease such space to Tenant.
Procedure for Offer. From and after the Effective Date, Lessor shall notify Lessee (the “First Offer Notice”) from time to time when any First Offer Space has Become Available for lease to third parties, provided that no Superior Rights Holder wishes to exercise a Superior Right (as such terms are defined in Paragraph 7(c) below) to lease such First Offer Space and that such right of first offer has not otherwise terminated as set forth in Paragraph 7(f) below. Pursuant to such First Offer Notice, Lessor shall offer to lease to Lessee the First Offer Space which has then Become Available. The First Offer Notice shall describe the First Offer Space so offered to Lessee and shall set forth the base rent, additional rent, the term for such lease of the First Offer Space, any tenant improvement allowance, relocation allowance, free rent period or similar economic enhancements or inducements to the prospective tenant, and the extent to which operating expenses, taxes and insurance are to be charged to the prospective tenant (collectively, the “First Offer Effective Rent”) and any expansion rights, rights of first offer to lease or extension rights (the “First Offer Renewal/Expansion Rights”) and such other lease terms upon which Lessor is willing to lease such First Offer Space to Lessee (the First Offer Effective Rent, the First Offer Renewal/Expansion Rights and such other terms are referred to herein as the “First Offer Terms”). The First Offer Terms shall be the then prevailing fair market rent and other terms which Lessor intends to offer the First Offer Space for lease to third parties.
Procedure for Offer. Subject to the terms of this Section 1.2, Landlord shall notify Tenant (the “First Offer Notice”) at such time as Landlord intends to market the First Offer Space for lease to third parties, provided that no Superior Right Holder wishes to lease such space. Pursuant to such First Offer Notice, Landlord shall offer to lease to Tenant the then available First Offer Space. The First Offer Notice shall describe the space so offered to Tenant and shall set forth the “First Offer Rent,” as that term is defined in Section 1.2.3 below, and the other economic terms upon which Landlord is willing to lease such space to Tenant. In no event shall Landlord have the obligation to deliver a First Offer Notice (and Tenant have no right to exercise its right under this Section 1.2) to the extent that the “First Offer Commencement Date,” as that term is defined in Section 1.2.5, below, is anticipated by Landlord to occur at any time during the last two (2) years of the Lease Term.
Procedure for Offer. Landlord shall notify Tenant (the "FIRST -------------------- OFFER NOTICE") from time to time when Landlord determines that Landlord shall commence the marketing of any First Offer Space because such space shall become available for lease to third parties, where no holder of a Superior Right desires to lease such space. The First Offer Notice shall describe the space so offered to Tenant and shall set forth Landlord's proposed economic terms and conditions applicable to Tenant's lease of such space (collectively, the "ECONOMIC TERMS"). Notwithstanding the foregoing, Landlord's obligation to deliver the First Offer Notice shall not apply during the last six (6) months of the initial Term unless Tenant and Landlord shall have previously extended the Term, in writing.
Procedure for Offer. Landlord shall notify Tenant (the “Fifteenth Floor First Offer Notice”) each time after the date of this First Amendment that Landlord receives a proposal or request for proposal for all or any portion of the Fifteenth Floor First Offer Space which Landlord would seriously consider. The Fifteenth Floor First Offer Notice shall describe the space which is the subject of the Fifteenth Floor First Offer Notice and shall set forth the size and location of such space, Landlord’s estimate of the date by which the applicable Fifteenth Floor First Offer Space will be delivered to Tenant (either built-out with typical office tenant improvements or, if an improvement allowance is not a component of the Fifteenth Floor Economic Terms, the date by which such space will be delivered to Tenant vacant and broom clean) the economic terms and conditions which Landlord would accept for Tenant’s lease of such space (collectively, the “Fifteenth Floor Economic Terms”), including, without limitation, the Base Rent, any contribution by Landlord to Direct Expenses, any concessions and any contribution by Landlord to the improvement of the Fifteenth Floor First Offer Space. Such Fifteenth Floor Economic Terms shall constitute Landlord’s good faith determination of the then prevailing fair market economic terms for such space.
Procedure for Offer. Prior to Landlord entering into any new lease of the First Offer Space (other than to a Superior Right Holder) Landlord shall offer to lease to Tenant such First Offer Space (the “First Offer Notice”). If Landlord intends to lease the First Offer Space as a part of a transaction including additional space, then the First Offer Notice shall include such additional space as well as the First Offer Space. The First Offer Notice shall describe the space so offered to Tenant and shall set forth the rent and other economic terms upon which Landlord is willing to lease such space to Tenant (the “First Offer Rent”).