Common use of Right of First Offer During Lease Term or Extension Term Clause in Contracts

Right of First Offer During Lease Term or Extension Term. (a) If and when during the Term or Extension Term, as the case may be, Landlord shall decide to sell the Leased Properties to a Person who is not an Affiliate of Landlord (the "Decision to Sell"), provided that no Event of Default has occurred and is continuing under the Lease, Landlord shall notify Tenant in writing within ten (10) business days after Landlord makes a Decision to Sell. Tenant shall have ten (10) business days thereafter in which to notify Landlord in writing of its desire to purchase the Leased Properties. If Tenant shall give such notice, Tenant shall have a period of thirty (30) days within which to make a written offer to purchase the property (the "First Offer"). The First Offer must set forth the purchase price, deposit amounts and closing date and any and all other terms and conditions being proposed by Tenant.