Tenant Right of First Refusal. Tenant (Walgreen Co.) has Right of First Refusal (ROFR) to purchase subject property if bona fide offer received borrower otherwise willing to accept; ROFR is not extinguished by foreclosure; however, the ROFR does not apply to foreclosure or deed in lieu thereof.
Tenant Right of First Refusal. The Parties agree that Buyer will be incurring expenses related to Buyer’s Diligence, despite the fact that the Lease may contain a right of first refusal or right of first offer in favor of Tenant (either such right, a “ROFR”). If the Lease contains a ROFR and Tenant delivers notice of its intent to exercise the ROFR or actually exercises the ROFR, then Seller will promptly reimburse Buyer for all reasonable out-of-pocket and third-party diligence expenses (including without limitation reasonable attorneys’ fees and costs) incurred by Buyer in connection with this transaction, Buyer will immediately be paid the Deposit, and this Agreement shall be deemed terminated. Absent any such action by Tenant, Seller will provide to Buyer and Escrow Agent a written waiver by Tenant of such ROFR rights prior to the end of the Study Period. Such waiver will be requested by Seller from Tenant within two (2) business days after the Effective Date.
Tenant Right of First Refusal. The Parties agree that Buyer will be incurring expenses related to Buyer’s Diligence, despite the fact that one or more of the Leases may contain a right of first refusal or right of first offer in favor of Tenant (either such right, a “ROFR”). If any of the Leases contains a ROFR and Tenant delivers notice of its intent to exercise the ROFR or actually exercises the ROFR, then Buyer may, at Buyer’s option by written notice to Seller, (a) terminate this Agreement as to any Property affected by such exercised ROFR, whereupon such terminated Property will be treated as a “Removed Property” as provided in Section 5(c) above (with proportionate reductions in the Purchase Price and Deposit), and Seller will promptly reimburse Buyer for all reasonable out-of-pocket and third-party expenses (including without limitation reasonable attorneys’ fees and costs) incurred by Buyer in connection with Buyer’s Diligence or this transaction related to each such Removed Property; or (b) terminate this Agreement as to all the Properties, in which case the Deposit will immediately be paid by Escrow Agent to Buyer, Seller will promptly reimburse Buyer for all reasonable out-of-pocket and third-party expenses (including without limitation reasonable attorneys’ fees and costs) incurred by Buyer in connection with Buyer’s Diligence or this transaction, and neither of the Parties will have any further liability or obligation under this Agreement except for any Surviving Obligations. Seller will provide to Buyer and Escrow Agent a written waiver by Tenant of all ROFR rights (other than any exercised as provided above) prior to the end of the Study Period. Such waiver will be requested by Seller from Tenant within two (2) business days after the Effective Date.
Tenant Right of First Refusal. Palmetto Therapy Services (#1 tenant overall and sole tenant at one of the constituent buildings) has Right of First Refusal (ROFR) to purchase the building in which its leased premises are located if offer is received that borrower is otherwise willing to accept. The ROFR is not extinguished by foreclosure; however, the ROFR does not apply to foreclosure or deed in lieu thereof.
Tenant Right of First Refusal. If Tenant exercises the Tenant Purchase Option within 24 months of the execution of the Lease, complies with complying with the Employment Requirements and is not otherwise in default under the Lease for the Project Property, and is not otherwise in default on the Leased Property beyond applicable notice and cure periods, and makes the Right of First Refusal payment to Landlord, Landlord hereby grants to Tenant the right of refusal to purchase the adjacent to, and located to the west of, the Leased Property and Adjacent Parcel, as legally described on Exhibits B-I and B-II (the “Adjacent Parcel”) in accordance with the terms and conditions as set forth in Exhibit F.
Tenant Right of First Refusal. PNC Bank (#1 tenant) has Right of First Refusal (ROFR) to purchase its leased property (Unit 1) if the borrower receives offer as to leased premises that it is otherwise willing to accept and the remaining unexpired term of the PNC Bank lease is at least 10 years (PNC lease expires 12.28.2027 but is subject to tenant’s 5-year renewal option). The ROFR is not extinguished by foreclosure; however, the ROFO does not apply to foreclosure or deed in lieu thereof. 8 The Alhambra (Loan No. 10) The City of Los Angeles (agencies of which represent the #3, #4 and #5 tenants) has a right of first offer (ROFO) to purchase the mortgaged property if borrower decides to market the property for sale. The ROFO is not extinguished by foreclosure; however, the ROFO does not apply to foreclosure or deed in lieu thereof.
Tenant Right of First Refusal. If Landlord, during the Lease Term, or any extension or renewal thereof, receives a bona fide offer to purchase the Demised Premises from any party other than Tenant, Landlord shall give notice in writing to Tenant and Tenant shall have the right and privilege, at any time within thirty (30) days from receipt of such written notice, of submitting a written purchase offer for the Demised Premises on the same terms and conditions of such purchase offer, provided that closing shall be held within a reasonable time, not to exceed sixty (60) days. If Tenant fails to meet such bona fide offer within thirty (30) days after notice thereof from Landlord, Landlord may sell the premises or a portion thereof to such third person in accordance with the terms and conditions of the purchase offer. Should Tenant fail or refuse to exercise the right of first refusal above granted within thirty (30) days and for any reason whatsoever the sale to such other party not be consummated, the right of first refusal of the Tenant as herein agreed upon, shall continue in the same manner until November 15, 1999. Should the premises be sold to any party other than Tenant (upon Tenant's failure or refusal to exercise the privilege above granted), the sale shall in no way affect this lease and shall be made subject to the terms hereof.
Tenant Right of First Refusal. On or after November 1, 2021, Jewel-Osco (single tenant) has Right of First Refusal (ROFR) to purchase the subject property if offer is received that borrower is otherwise willing to accept. The ROFR is not extinguished by foreclosure; however, the ROFR does not apply to foreclosure or deed in lieu thereof.
Tenant Right of First Refusal. So long as Tenant is not in default under this Lease, Tenant shall have the right of first refusal and the right to lease Suite 340 of the Building (approximately 1,000 square feet) as set forth below:
A. Expansion must take into account proper and legal exiting and code restrictions for the expansion space.
B. The term for the expansion space shall be coterminous with the Term of the Lease provided there is a minimum of one year remaining on the Term.
C. Provided there is not less than 12 months remaining on the Lease term, Landlord shall carpet the expansion suite to match the carpet in the Premises.
D. In the event of a bonafide offer or letter of intent from a third party tenant to lease the expansion space, Landlord shall notify Tenant of such offer and Tenant shall have five (5) business days to respond. If Tenant elects to exercise its right of first refusal, Tenant shall agree to the effective rental rate and all material terms of the third party offer or letter of intent except the term which shall be as set forth in subparagraph (b) above. Any increase in the cost of the tenant improvement. presented in the bonafide offer or letter of intent and the actual cost of such tenant improvements shall be amortized over the remaining lease term and paid by Tenant as Additional Rent. Any decrease in the cost of the tenant improvements presented in the bonafide offer or letter of intent and the actual cost of such tenant improvements shall be amortized over the remaining lease term and the Basic Rent shall be reduced over the term of the Lease by such amortized amount. If Tenant fails to respond to such third party offer or letter of intent within five (5) business days, or if Tenant rejects such offer or letter of intent, Landlord may proceed to lease such space to the third party for the ensuing ninety (90) day period. If no lease is signed within such ninety (90) day period or any of the material terms of the third party offer are changed, Landlord shall present the offer again to Tenant for Tenant's acceptance or refusal. In the event Tenant elects to expand, an addendum to Lease will be prepared stating new rent, improvements, term and security deposit increase.
Tenant Right of First Refusal. The Parties agree that Buyer will be incurring expenses related to Buyer’s Diligence, despite the fact that one or more of the Leases may contain a right of first refusal or right of first offer in favor of the applicable Tenant thereunder (either such right, a “ROFR”). If any of the Leases contains a ROFR and the applicable Tenant delivers notice of its intent to exercise its ROFR or actually exercises its ROFR, then Buyer may, at Buyer’s option, terminate this Agreement prior to the end of the Study Period by written notice to Seller, in which event Buyer will immediately be paid the Deposit, and this Agreement shall be deemed terminated. If only part of the Property is subject to the exercised ROFR(s) and such portion(s) can be separately conveyed, then Buyer may elect prior to the end of the Study Period upon written notice to Seller, at Buyer’s option, to instead purchase only the remaining Property, in which event the Parties will promptly amend this Agreement to apply only to the remaining Property and Leases and reduce the Purchase Price by the capitalized value of the excluded Property and Leases. Absent any such Purchase and Sale Agreement Xxxxxx Marketplace, Lawton, Oklahoma exercise by a Tenant, Seller will provide to Buyer and Escrow Agent a written waiver by each applicable Tenant of such Tenant’s ROFR rights prior to the end of the Study Period. Such waivers will be requested by Seller from all applicable Tenants within two (2) business days after the Effective Date.
