Common use of Right of First Opportunity Clause in Contracts

Right of First Opportunity. Provided Tenant has fully and timely performed all of its obligations hereunder, at any time that space adjacent to the Premises on the second floor becomes available for lease after initially having been leased to and occupied by a third party (the “Option Space”), Tenant shall have a right of first opportunity to lease the Option Space (in whole, not in part). When Option Space becomes available, Landlord shall notify Tenant of the size, location and estimated date of availability of the Option Space and the terms on which Landlord is interested in leasing the space. Tenant shall have 5 business days after receipt of Landlord’s notice to notify Landlord whether or not Tenant is interested in leasing the Option Space. If Tenant notifies Landlord that it is interested within that time period, Landlord will negotiate in good faith with Tenant for the next 7 business days to reach agreement on a lease or lease amendment for the Option Space. If the parties are not able to reach agreement and sign a lease or lease amendment for the Option Space within that 7 business day period, Landlord shall be free to lease the space to any other party. This Right of First Opportunity is subject to all rights granted to other tenants as of the date hereof. Similarly, the Option Space shall not be considered available if the then current tenant of that space wishes to remain there via exercise of a renewal right or by negotiation with Landlord.

Right of First Opportunity. Provided that Tenant has fully and timely performed all of its obligations hereunder, at any time that space adjacent to the Premises on the second floor becomes available for lease after initially having been leased to and occupied by a third party (the “Option Space”), Tenant shall have a right of first opportunity to lease the Option Space (in whole, not in part). , When the Option Space becomes available, Landlord shall notify Tenant of the size, location and estimated date of availability details of the Option Space and the terms on which Landlord is interested in leasing the spacewilling to lease it. Tenant shall have 5 business days after receipt of Landlord’s notice to notify Landlord whether or not that Tenant is interested in leasing elects to lease the Option SpaceSpace on those terms. If Tenant notifies Landlord that it is interested within that time periodwishes to lease the space, Landlord will negotiate in good faith with Tenant for the next 7 business days to reach agreement on shall prepare either a new lease or lease amendment for the Option Space. If the parties are not able to reach agreement and sign a lease or lease amendment for the Option Space or an amendment to this Lease for the Option Space and Tenant must execute and return the document to Landlord within that 7 business day period, Landlord 5 days after receipt or Tenant shall be free deemed to lease have withdrawn its exercise of the space to any other partyright of first opportunity. This Right right of First Opportunity first opportunity is (a) personal to Tenant and may not be exercised by any subtenant or assignee of Tenant, and (b) subject to all rights granted to other tenants as of the date hereof. Similarly, the Option Space shall not be considered available if the then current tenant of that space wishes to remain there via exercise of a renewal right or by negotiation with Landlord.

Right of First Opportunity. Provided Tenant has fully and timely performed all of its obligations hereunder, at any time that space adjacent to the Premises on the second floor becomes available for lease after initially having been leased to and occupied by a third party (the “Option Space”), Tenant shall have a right of first opportunity to lease available space in the building (“Option Space (in whole, not in part)Space”) for either an expansion or a relocation of their Premises. When Option Space becomes available, Landlord shall notify Tenant of the size, location and estimated date of availability details of the Option Space and the terms on which Landlord is interested in leasing the spacewilling to lease it. Tenant shall have 5 10 business days after receipt of Landlord’s notice to notify Landlord whether or not that Tenant is interested in leasing elects to lease the Option SpaceSpace on those terms. If Tenant notifies Landlord that it is interested within that time periodwishes to lease the space, Landlord will negotiate in good faith with Tenant for the next 7 business days to reach agreement on shall prepare either a new lease or lease amendment for the Option Space. If the parties are not able to reach agreement and sign a lease or lease amendment for the Option Space or an amendment to this Lease for the Option Space and Tenant must execute and return the document to Landlord within that 7 business day period, Landlord days after receipt or Tenant shall be free deemed to lease have withdrawn its exercise of the space to any other partyright of first opportunity. This Right right of First Opportunity first opportunity is subject to all rights granted to other tenants as of the date hereof. Similarly, the Option Space shall not be considered available if the then current tenant of that space wishes to remain there via exercise of a renewal right or by negotiation with Landlord.