Common use of Refusal by Tenant Clause in Contracts

Refusal by Tenant. If Tenant so refuses its right to lease the Offered Space (either by giving written notice thereof or by failing to give any notice), Landlord shall have the right to lease the Offered Space to the prospective tenant on terms not materially less favorable to Landlord than the terms set forth in the notice delivered to Tenant and, upon the execution of such lease between Landlord and the prospective tenant, this Right of First Refusal as to the Offered Space shall thereafter be null, void and of no further force or effect. If Landlord does not enter into a lease with such prospective tenant covering the Offered Space upon economic terms which are not materially less favorable to Landlord within 180 days of Tenant’s waiver of its right to lease the Offered Space, Landlord shall not thereafter engage in other lease negotiations with respect to the Right of First Refusal Space without first complying with the provisions of this Rider No. 104.