Common use of Right of First Refusal to Lease Additional Space Clause in Contracts

Right of First Refusal to Lease Additional Space. For the purposes of this Lease, the 14,600 square feet of additional floor space within the Warehouse located adjacent to the Leased Premises shall be referred to herein as the "ADJACENT Space". In the event, during the Term of this Lease, LESSOR shall receive a bona fide offer from a third party, acceptable to LESSOR (which may be in the form of a lease or letter of intent to be signed), to lease space within the Warehouse which includes the Adjacent Space (herein the "FIRST REFUSAL SPACE"), LESSOR shall submit a written notice thereof to LESSEE. Upon receipt of said notice, LESSEE shall have the right (the "RIGHT OF FIRST REFUSAL), exercisable at any time within ten (10) business days from and after the date of LESSEE'S receipt of such notice (herein the "EXERCISE PERIOD"), to lease the First Refusal Space upon the same terms and conditions offered by the third party; provided, however, (a) the term of the lease for the First Refusal Space shall be the same as the remaining term of this Lease; and (b) if the term of the offer to lease the First Refusal Space extends beyond the end of the then current term of this Lease and there remains an unexercised option to extend this Lease, LESSEE must exercise such option at the time it elects to exercise its right of first refusal. In order to exercise LESSEE'S Right of First Refusal, LESSEE must give LESSOR written notice thereof on or before the last day of the Exercise Period.

Appears in 1 contract

Samples: Sublease (Sportsmans Guide Inc)

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Right of First Refusal to Lease Additional Space. For If Lessee is not in default under the purposes of this Lease, the 14,600 square feet of additional floor space within the Warehouse located adjacent to the Leased Premises shall be referred to herein as the "ADJACENT Space". In the event, during the Term of this Lease, LESSOR shall receive a bona fide offer from a third party, acceptable to LESSOR (which may be in the form of a lease or letter of intent to be signed), to lease space within the Warehouse which includes the Adjacent Space (herein the "FIRST REFUSAL SPACE"), LESSOR shall submit a written notice thereof to LESSEE. Upon receipt of said notice, LESSEE shall have the right (the "RIGHT OF FIRST REFUSAL), exercisable at any time within ten (10) business days from and after Lease on the date of LESSEE'S receipt of such notice (herein the "EXERCISE PERIOD"), to lease the First Refusal Space upon the same terms and conditions offered by the third party; provided, however, (a) the term of the lease for the First Refusal Space shall be the same as the remaining term of this Lease; and (b) if the term of the offer to lease the First Refusal Space extends beyond the end of the then current term of this Lease and there remains an unexercised option to extend this Lease, LESSEE must exercise such option at the time it elects Lessee desired to exercise its right of first refusal. In order to exercise LESSEE'S Right of First Refusal, LESSEE must give LESSOR written notice thereof on or before Lessee shall have a Right of First Refusal to lease all of Suite 320 consisting of 2,337 rentable square feet (Expansion Space). Lessor agrees to notify Lessee pursuant to the last day requirements of Article 28 of the Exercise Period.Lease of Lessor's intention to offer the Expansion Space for lease. Lessee shall have three (3) days from its receipt of such notice to notify Lessor in writing of Lessee's intent to exercise its Right of First Refusal and to execute a mutually agreed upon Rider to this Lease to include Expansion Space. If Lessee does not exercise its Right of First Refusal, this Right of First Refusal shall terminate and Lessor may lease any portion or all of the Expansion Space to any third party. If Lessee so elects to exercise its Right of First Refusal to lease the Expansion Space, the rent, terms, and conditions for leasing the Expansion Space, shall be based on the then current lease proposal for the Expansion Space in conjunction with prevailing rental rates for properties of equivalent quality, size, utility, and location, with the length of the Lease Term and credit standing of Lessee to be taken into account, but in no event shall the rent be less than the rent set forth in Section 3 of this Lease and Section 35 of this Rider Number One for the Lease Term, otherwise subject to all the terms, covenants and conditions of this Lease. Within fifteen (15) business days from the date of Lessee's election to exercise its Right of First Refusal, Lessee shall execute plans and specifications and other documents as necessary showing the construction costs to be paid by Lessee for the Space, if any, otherwise Lessee's Right of First Refusal shall terminate and Lessor may lease the Expansion Space to any third party. 11 7000 BROADWAY BUILDING [FLOOR PLAN] McDEXXXXX XXXNNING & DESIGN EXHIBIT "A" Floor Plan ALLOS THERAPEUTICS THIRD FLOOR SPACE PLAN 12 EXHIBIT "B" RULES AND REGULATIONS

Appears in 1 contract

Samples: Office Lease (Allos Therapeutics)

Right of First Refusal to Lease Additional Space. For the purposes of this Lease41.1 If, the 14,600 square feet of additional floor space within the Warehouse located adjacent to the Leased Premises shall be referred to herein as the "ADJACENT Space". In the event, at any time during the Term of this Lease, LESSOR as it may be extended, Landlord shall solicit or receive a bona fide offer in writing ("Offer") from a third party, acceptable party to LESSOR (which may be lease all or any part of the balance of the space in the form of a lease or letter of intent to be signed), to lease space within the Warehouse which includes the Adjacent Space Building (herein the "FIRST REFUSAL SPACEExpansion Space"), LESSOR shall submit a written notice thereof to LESSEE. Upon receipt of said notice, LESSEE Tenant shall have the a right of first refusal (the "RIGHT OF FIRST REFUSAL), exercisable at any time within ten (10Right of First Refusal") business days from and after the date of LESSEE'S receipt of such notice (herein the "EXERCISE PERIOD"), to lease the First Refusal Expansion Space upon the same terms and conditions offered by as set forth in the third party; providedOffer. Landlord, however, (a) the term promptly following Landlord's solicitation or receipt of the lease Offer, shall deliver written notice to Tenant specifying the economic terms and conditions stated in the Offer. Tenant shall exercise its Right of First Refusal by providing Landlord with written notice of its exercise within five (5) business days after the date of receipt of Landlord's notice regarding the Offer. If Tenant exercises its Right of First Refusal within the five (5) business-day period, Landlord and Tenant promptly shall execute an amendment to this Lease (or, at Landlord's election, a new Lease) for the First Refusal Space Expansion Space, which includes the terms and conditions set forth in the Offer. If Tenant fails to provide Landlord with its written notice of exercise within the five (5) business-day period, then Tenant shall be the same as the remaining term of this Lease; and (b) if the term of the offer deemed to lease the First Refusal Space extends beyond the end of the then current term of this Lease and there remains an unexercised option to extend this Lease, LESSEE must exercise such option at the time it elects have elected not to exercise its right of first refusal. In order to exercise LESSEE'S Right of First RefusalRefusal with respect to the particular Offer at issue. Notwithstanding the foregoing, LESSEE must give LESSOR written notice thereof on or before if Landlord negotiates with the last day proposed tenant lease terms materially more favorable then those offered to Tenant but rejected, Landlord shall be required to submit the more favorable terms to Tenant for its review. Tenant shall have three (3) business days after receipt of the Exercise Periodmore favorable terms to accept or reject the Expansion Space. If Tenant rejects the more favorable terms, Landlord shall be free to enter into a lease with the proposed tenant. Tenant's Right of First Refusal shall be continuous during the Term and any extension thereof. Tenant's rejection of any particular Offer shall not relieve Landlord of its obligation to again offer any Expansion Space to Tenant at any time that the Expansion Space subsequently becomes available. If Landlord fails to lease any portion of the Expansion Space within ninety (90) days of delivering to Tenant an Offer for such Expansion Space, Landlord shall again offer such Expansion Space to Tenant as set forth above.

Appears in 1 contract

Samples: Lease (Nastech Pharmaceutical Co Inc)

Right of First Refusal to Lease Additional Space. For (a) Subject to the purposes terms and provisions of this Leaseparagraph, during the 14,600 square feet Lease Term (including any extension period, as applicable), Tenant shall have a continuing right of additional floor first refusal to lease all or any portion of any space within the Warehouse located adjacent Building that may from time to the Leased Premises shall be referred to herein as the "ADJACENT Space"time become available for direct lease. In the event, during the Term of this Lease, LESSOR shall receive If Landlord receives a bona fide offer from a third partyparty written proposal, acceptable to LESSOR (which may be in the form letter of a lease or interest, proposed letter of intent or a written offer for the lease of any of such available space that is generally acceptable to Landlord, Landlord shall notify Tenant of such fact (the “Lease Proposal Notice”), which shall include the description of the space proposed to be signed)leased, to lease space within the Warehouse which includes the Adjacent Space (herein the "FIRST REFUSAL SPACE"), LESSOR shall submit a written notice thereof to LESSEE. Upon receipt of said notice, LESSEE shall have the right (the "RIGHT OF FIRST REFUSAL), exercisable at any time within ten (10) business days from and after the date of LESSEE'S receipt of such notice (herein the "EXERCISE PERIOD"), to lease the First Refusal Space upon the same material financial terms and material conditions offered by of the third party; providedproposal, and to the extent then available, a copy of the terms sheet, letter of interest, correspondence, or executed or unexecuted letter of intent or draft agreement reflecting such lease proposal. It is expressly agreed, however, (a) that the foregoing right of first refusal shall not apply to the renewal or extension of any third party leases of space, and that the space covered by a then existing lease shall not be considered to be available for purposes hereof. Notwithstanding the foregoing, as to the space currently leased by the Texas Parks and Wildlife Department, it is agreed that if Landlord intends to submit a proposal to renew such lease beyond the term of its lease (and any renewal periods currently provided in such lease), Landlord shall submit to Tenant, at least sixty (60) days prior to the lease date Landlord intends to submit such proposal to the Texas Parks and Wildlife Department, a written proposal of the terms of such renewal, which shall be considered a Lease Proposal Notice for the First Refusal Space shall be purposes hereof. It is further agreed that if the same as the remaining term of this Lease; Texas Parks and (b) if Wildlife Department submits a proposal to Landlord to renew and extend its lease beyond the term of its lease (and any renewal periods currently provided in such lease), such proposal shall be considered a Lease Proposal Notice for the offer to lease the First Refusal Space extends beyond the end of the then current term of this Lease and there remains an unexercised option to extend this Lease, LESSEE must exercise such option at the time it elects to exercise its right of first refusal. In order to exercise LESSEE'S Right of First Refusal, LESSEE must give LESSOR written notice thereof on or before the last day of the Exercise Periodpurposes hereof.

Appears in 1 contract

Samples: Lease Agreement (Pharmaceutical Product Development Inc)

Right of First Refusal to Lease Additional Space. For Provided that there is not an uncured Event of Default at the purposes time of this Leaseexercise, Tenant shall have the 14,600 square feet right of additional floor first refusal to lease any space within in the Warehouse located Building that is adjacent to the Leased Premises shall be referred to herein as (the "ADJACENT “Additional Space"”) on the following terms and conditions. In the event, If at any time during the Term of this Lease, LESSOR shall receive including any extension or renewal thereof, Landlord receives a bona fide offer from a third party, to lease all or any portion of the Additional Space on terms and conditions acceptable to LESSOR (which may be in the form of Landlord, as evidenced by a lease or letter of intent or other written offer, Landlord shall notify Tenant in writing of the location and approximate rentable area of the space that is covered by such third-party offer (the “Available Space”) and the terms of such third-party offer (“Landlord’s Notice”). Tenant shall have five (5) business days after receipt of Landlord’s Notice to be signed), notify Landlord in writing of Tenant’s election to lease space within the Warehouse Available Space on the terms stated in Landlord’s Notice, which includes shall include an allowance equal to the Adjacent greater of the allowance specified in Landlord’s Notice, or $30,000, for tenant improvements to the Available Space (herein but only for the "FIRST REFUSAL SPACE"first of any Available Space leased by Tenant if less than the entire Additional Space is covered by Landlord’s Notice). If Tenant notifies Landlord in writing within such five-day period of Tenant’s election to lease the Available Space on the terms stated in Landlord’s Notice, LESSOR Landlord and Tenant shall submit a written execute an amendment to this Lease adding the Available Space to the Premises and modifying the Monthly Rent and any other terms affected by the addition of the Available Space. If, however, Tenant fails to notify Landlord of Tenant’s election to lease the Available Space within such five-day period or, if Landlord and Tenant, through no fault of Landlord, fail to execute an amendment to this Lease within thirty (30) days after the date of Tenant’s notice thereof to LESSEE. Upon receipt of said noticeLandlord, LESSEE Tenant shall be deemed to have waived its right to lease the Available Space at such time and Landlord shall have the right (the "RIGHT OF FIRST REFUSAL), exercisable at any time within ten (10) business days from and after the date of LESSEE'S receipt of such notice (herein the "EXERCISE PERIOD"), to lease the First Refusal Available Space upon to the third party on substantially the same terms and conditions offered by the third party; provided, however, (a) the term stated in Landlord’s Notice without further notice to Tenant. This right of the lease for the First Refusal Space shall be the same as the remaining term of this Lease; and (b) if the term of the offer first refusal to lease the First Refusal Additional Space extends beyond the end of the then current term of this Lease is personal to Tenant and there remains an unexercised option may not be transferred or assigned to extend this Lease, LESSEE must exercise such option at the time it elects to exercise its right of first refusal. In order to exercise LESSEE'S Right of First Refusal, LESSEE must give LESSOR written notice thereof on or before the last day of the Exercise Periodany third party.

Appears in 1 contract

Samples: Lease (Vocera Communications, Inc.)

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Right of First Refusal to Lease Additional Space. For the purposes Tenant shall have a right of this Lease, the 14,600 first refusal to lease that certain additional 4,000 +/- rentable square feet of additional floor space within the Warehouse located adjacent to the Leased Premises shall be referred to herein as the ("ADJACENT Additional Space". In the event, during the Term of this Lease, LESSOR shall receive a bona fide offer from a third party, acceptable to LESSOR (which may be in the form of a lease or letter of intent to be signed), to lease space within the Warehouse which includes the Adjacent Space (herein the "FIRST REFUSAL SPACE"), LESSOR or any portion thereof, in the location designated on Exhibit "A" attached hereto, now or as same becomes available. Whenever during the term of this Lease Landlord receives an offer to rent the Additional Space, or any portion thereof, Landlord shall submit a give Tenant written notice thereof to LESSEEof such offer, specifying all economic terms and conditions of such offer. Upon receipt of said notice, LESSEE shall have the right (the "RIGHT OF FIRST REFUSAL), exercisable at any time within ten (10) business days from and after the date of LESSEE'S receipt of such notice (herein the "EXERCISE PERIOD")from Landlord, Tenant may exercise its right to lease the First Refusal Space upon such Additional Space, or portion thereof, on the same economic terms and conditions offered by as in the third party; provided, however, officer (a) other than the term of the lease Lease for the First Refusal Space Additional Space), by giving written notice of its intent to exercise within fourteen (14) days after receipt of Landlord's notice. Tenant's failure to give such notice shall be deemed an election not to lease such Additional Space, or portion thereof. Any Additional Space leased by Tenant pursuant to this paragraph shall be leased for the same as the remaining term of this Lease; and (b) if the term balance of the offer to lease the First Refusal Space extends beyond the end of the then current term of this Lease and there remains an unexercised option to extend this Lease, LESSEE must exercise such option in effect at the time it elects possession of the Additional Space is delivered to exercise its Tenant. Tenant and Landlord acknowledge that the Additional Space herein described and the additional space described in the Expansion Option Set forth in this Rider to Lease are one and the same. This right of first refusalrefusal to Lease the Additional Space is in addition to, no in lieu of, the Expansion Option set forth in this Rider to Lease. In order in no event shall Landlord enter into any lease(s) with regard to exercise LESSEE'S Right the Additional Space, or any portion thereof, which would in any manner abrogate Tenant's Expansion Option set forth in this Rider to Lease. With respect to the Additional Space, Tenant's obligation to pay rent for such space shall commence on the date all improvements to the Additional Space have been completed and possession has been delivered to tenant. EXHIBIT /B/ CITY CENTER OFFICE PARK TENANT INTERIOR IMPROVEMENTS SUPPLIED BY LANDLORD INTERIOR PARTITIONS: Partitions shall extend from floor to ceiling grid and be constructed of First Refusal5/8" thick gypsum board over metal stud framing. Partition to be painted and include 2-1/2" vinyl covered base, LESSEE must give LESSOR written notice thereof on or before the last day colors to be selected from samples supplied by Landlord's Architect. DEMISING PARTITIONS; Partitions between Tenant Premises shall be identical to interior partition construction and shall include blanket sound insulation full height of the Exercise Periodwall and above ceiling 3' - 0" horizontally each side of partition.

Appears in 1 contract

Samples: Critical Home Care Inc

Right of First Refusal to Lease Additional Space. For Tenant shall have the purposes right of this Lease, first refusal to lease any additional space on the 14,600 square feet second and third floor of additional floor space within the Warehouse located adjacent to the Leased Premises shall be referred to herein as the Building ("ADJACENT Additional Space". In the event, ) that may become available for lease at any time during the Term of this Lease, LESSOR shall receive as follows: If Landlord has Additional Space available and receives a bona fide offer to lease the Additional Space from a third party, acceptable to LESSOR party (which may be in the form of a lease or letter of intent to be signed), to lease space within the Warehouse which includes the Adjacent Space (herein the an "FIRST REFUSAL SPACEOffer"), LESSOR it shall submit a send written notice thereof to LESSEETenant. Upon The notice shall (i) identify the Additional Space and (li) set forth the terms of the Offer. Within 10 days after receipt of said Landlord's notice, LESSEE Tenant shall have reply by written notice either accepting the right (Additional Space on the "RIGHT OF FIRST REFUSAL), exercisable at any time terms set forth in the Offer or rejecting the same. Failure to respond within ten (the 10) business days from and after the date of LESSEE'S receipt of such notice (herein the "EXERCISE PERIOD"), to lease the First Refusal Space upon the same terms and conditions offered by the third party; provided, however, (a) the term -day period shall constitute a rejection of the lease for Additional Space. If Tenant accepts the First Refusal Additional Space on the terms set forth in the initial offer, in the manner set forth above, the Additional Space shall be added to the same Premises by an amendment to this Lease which shall include an adjustment of Tenant's proportionate share of Operating Expenses and such other changes as may be appropriate. If Tenant does not accept the remaining term Additional Space, Landlord may lease that particular Additional Space to any other party, for a period of this Lease; and (b) if the term 360 days after delivery of the offer to lease Tenant, on terms not substantially more favorable than those contained in the First Refusal Space extends beyond Offer, without being required to offer the end of the then current term of same to Tenant pursuant to this Lease and there remains an unexercised option to extend this Lease, LESSEE must exercise such option at the time it elects to exercise its right of first refusal. In order to exercise LESSEE'S Right of First Refusal, LESSEE must give LESSOR written notice thereof on or before the last day of the Exercise PeriodSection.

Appears in 1 contract

Samples: Lease (McDonald & Co Investments Inc)

Right of First Refusal to Lease Additional Space. For Beginning from the purposes commencement date of this Lease, such date being October 1, 1999, and provided Tenant is not in default under the 14,600 square feet of additional floor space within the Warehouse located adjacent to the Leased Premises shall be referred to herein as the "ADJACENT Space". In the event, during the Term terms of this Lease, LESSOR shall receive Landlord grants to Tenant a bona fide offer from a third party, acceptable Right of First Refusal to LESSOR (which may be lease additional space that comes available in the form of a lease or letter of intent to be signed), to lease space within the Warehouse which includes the Adjacent Space (herein the "FIRST REFUSAL SPACE"), LESSOR shall submit a written notice thereof to LESSEE. Upon receipt of said notice, LESSEE shall have the right (the "RIGHT OF FIRST REFUSAL), exercisable at any time within ten (10) business days from and after the date of LESSEE'S receipt of such notice (herein the "EXERCISE PERIOD"), to lease the First Refusal Space upon Building on the same terms and conditions offered by of this Lease, as Amended under the third party; providedFirst Amendment to Lease. In the event Landlord receives a bona fide offer to rent space in the Building to any parties other than the Tenant, the Landlord shall give Tenant written notice of same. Tenant shall have fifteen (15) business days following receipt of such notice to notify Landlord as to whether Tenant desires to lease said space. The leasing of said additional space shall be under the same terms and conditions as the Lease and, if Tenant does exercise a Right of First Refusal to lease additional space hereunder, the parties shall amend this Lease to incorporate the additional space and proportionately increase Tenant's Base Rent. This Right of First Refusal excludes any Renewal Options in an existing executed Lease with any other Tenant(s) in the Building. This Right of First Refusal shall not, however, (a) obligate Landlord to reserve or hold any space for Tenant. Landlord reserves the term right to establish the minimum quantity and location of any additional space that may be added at any one time pursuant to this provision. In the lease for the First Refusal Space event Tenant shall be the same as the remaining term fail to give notice of this Lease; and (b) if the term of the offer its intent to lease the First Refusal Space extends beyond the end of the then current term of this Lease and there remains an unexercised option to extend this Leasesaid additional space within fifteen (15) days, LESSEE must exercise such option at the time it elects to exercise its right of first refusal. In order to exercise LESSEE'S Right of First Refusal, LESSEE must give LESSOR written notice thereof on or before the last day Refusal shall thereafter be and become null and void and of the Exercise Period.no further force and effect. ------------------------------------ ADDENDUM NUMBER THREE TO LEASE

Appears in 1 contract

Samples: Lease Agreement (Brown & Brown Inc)

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