Common use of Right of First Offer on Sale Clause in Contracts

Right of First Offer on Sale. (a) During the Initial Term, with respect to all Properties that are not Major Properties, and during each and any Renewal Term, with respect to all Properties for which Tenant shall have renewed the term hereof in accordance with the provisions of Section 1.4 of this Lease (as applicable, a “ROFO Eligible Property”), so long as no Event of Default shall have occurred hereunder and be continuing, and for so long as the herein named Tenant, or its Affiliates, shall remain in possession of at least thirty-five percent (35%) of the Net Rentable Area of such ROFO Eligible Property (together, the “ROFO Eligible Conditions”), Tenant shall have the right of first offer to purchase such Properties should Landlord determine to sell such ROFO Eligible Property, as more fully provided below. In no event shall the right of first offer provided in this Section 9.2 apply to any foreclosure of any Property or the delivery of any deed-in-lieu of foreclosure and such right of first offer shall terminate and be of no further force or effect upon and following a foreclosure or the delivery of a deed-in-lieu of foreclosure.

Right of First Offer on Sale. (a) During the Initial Term, with respect to all Properties Projects that are not Major Properties, and during each and any Renewal Term, with respect to all Properties Projects for which Tenant shall have renewed the term hereof in accordance with the provisions of Section 1.4 of this Lease (as applicable, a “"ROFO Eligible Property”"), so long as no Event of Default shall have occurred hereunder and be continuing, and for so long as the herein named Tenant, or its Affiliates, shall remain in possession of at least thirty-five percent (35%) of the Net Rentable Area of such ROFO Eligible Property (together, the “"ROFO Eligible Conditions”"), Tenant shall have the right of first offer to purchase such Properties Projects should Landlord determine to sell such ROFO Eligible Property, as more fully provided below. In no event shall the right of first offer provided in this Section 9.2 apply to any foreclosure of any Property Project or the delivery of any deed-in-lieu of foreclosure and such right of first offer shall terminate and be of no further force or effect upon and following a foreclosure or the delivery of a deed-in-lieu of foreclosure.