REJECTION OF OPTION NOTICE/FAILURE TO RESPOND Sample Clauses

REJECTION OF OPTION NOTICE/FAILURE TO RESPOND. If Tenant's Response rejects the terms and conditions of Landlord's Option Notice or Landlord's Response within the required ten (10) business day period and Tenant's failure to respond to the reminder notice shall be deemed to be a rejection by Tenant of the terms on Landlord's Response, (A) Landlord shall have the right, during the six (6) month period immediately following the expiration of such ten (10) business day period (the "LEASING PERIOD"), to lease to another person or entity all or a portion of the Option Space covered by Landlord's Option Notice on substantially the same or worse economic terms as those contained in Landlord's Option Notice and (B) Tenant's preferential right shall be subordinate to such lease except that any options, expansion rights, preferential leasing rights or similar options for expansion shall be subordinate to Tenant's rights under this Lease. For purposes hereof, the terms offered to a prospect shall be deemed to be substantially the same as those set forth in the Option Notice as long as there is no more than a ten percent (10%) increase or decrease in size of the Option Space identified in the Option Notice or no more than a ten percent (10%) reduction in the "bottom line" cost per square foot of the Option Space to the Prospect when compared with the "bottom line" cost per square foot under the Option Notice, considering all of the economic terms of the both deals, respectively, including, without limitation, the net rent and any financial concessions. The "bottom line" cost shall determined by subtracting all cash allowances, excluding any allowances to be repaid as an increase in rent, annualized on a per square foot basis from the net effective rent payable per square foot. If Landlord is unable to lease the Option Space within the Leasing Period, then Landlord shall once again have to comply with the provisions of this paragraph as to such portion of the Option Space.
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Related to REJECTION OF OPTION NOTICE/FAILURE TO RESPOND

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