Common use of Tenant Right of First Refusal or Right of First Offer Clause in Contracts

Tenant Right of First Refusal or Right of First Offer. Notwithstanding the fact that the Lease may contain a tenant right of first refusal or right of first offer (either such right, a “ROFR”), Buyer hereby agrees that the Study Period shall commence and run as set forth in Section 7(a) above, and commencement thereof shall not be tolled pending receipt of a written waiver of such ROFR rights from Tenant; provided, however, that in return therefor, Seller hereby agrees that, in the event Tenant does give notice of its intent to exercise its ROFR or does actually exercise its ROFR, this Agreement shall be terminated, whereupon the Xxxxxxx Money Deposit shall be paid immediately to Buyer, all documents deposited in escrow by Buyer shall be returned to Buyer without delay, Seller shall promptly reimburse to Buyer all reasonable out-of-pocket and third-party property diligence expenses incurred by Buyer related to the Premises, including, without limitation, reasonable attorneys’ fees and costs, and neither of the Parties shall have any further liability or obligation under this Agreement.

Tenant Right of First Refusal or Right of First Offer. Notwithstanding the fact that the Lease may contain a tenant right of first refusal or right of first offer (either such right, a “ROFR”), Buyer hereby agrees that the Study Period shall commence and run as set forth in Section 7(a) above, and commencement thereof shall not be tolled pending receipt of a written waiver of such ROFR rights from by Tenant; provided, however, that in return therefor, Seller hereby agrees that, in the event Tenant does give notice of its intent to exercise its the ROFR or does actually exercise its the ROFR, this Agreement shall be terminated, whereupon the Xxxxxxx Money Deposit shall be paid immediately to Buyer, all documents deposited in escrow by Buyer shall be returned to Buyer without delay, Seller shall promptly reimburse to Buyer all reasonable out-of-pocket and third-party property diligence expenses incurred by Buyer related to the PremisesBuyer, including, without limitation, reasonable attorneys’ fees and costs, and neither such amount not to exceed the sum of $50,000.00 (provided, however, that the Parties obligation to reimburse Buyer for its out-of-pocket costs shall have any further liability or obligation under this Agreementonly arise upon Seller’s receipt of reasonably satisfactory evidence of such costs).

Tenant Right of First Refusal or Right of First Offer. Notwithstanding the fact that the Lease may contain a tenant right of first refusal or right of first offer (either such right, a “ROFR”), Buyer hereby agrees that the Study Period shall commence and run as set forth in Section 7(a) above, and commencement thereof shall not be tolled pending receipt of a written waiver of such ROFR rights from by Tenant; provided, however, that in return therefor, Seller hereby agrees that, in the event Tenant does give notice of its intent to exercise its the ROFR or does actually exercise its the ROFR, this Agreement shall be terminated, whereupon the Xxxxxxx Money Deposit shall be paid immediately to Buyer, all documents deposited in escrow by Buyer shall be returned to Buyer without delay, Seller shall promptly reimburse to Buyer all reasonable out-of-pocket and third-party property diligence expenses incurred by Buyer related to the PremisesBuyer, including, without limitation, reasonable attorneys’ fees and costs; provided, however, that such reimbursement shall not exceed Twenty-Five Thousand Dollars ($25,000.00). Notwithstanding the foregoing, so long as Escrow Agent acknowledges that Tenant’s failure to exercise its option in writing is deemed to be an effective waiver of such option under the Lease and neither agrees to issue the Policy without taking exception to the ROFR, nothing herein shall be deemed to require a written waiver of the Parties shall have any further liability or obligation under this AgreementROFR from Tenant.

Tenant Right of First Refusal or Right of First Offer. Notwithstanding the fact that the Lease may contain a tenant right of first refusal or right of first offer (either such right, a “ROFR”), Buyer hereby agrees that the Study Period shall commence and run as set forth in Section 7(a) above, and commencement thereof shall not be tolled pending receipt of a written waiver of all such ROFR rights from by Tenant; provided, however, that in return therefor, Seller hereby agrees that, in the event Tenant does give notice of its intent to exercise its ROFR or does actually exercise its ROFR, this Agreement shall be terminated, whereupon the Xxxxxxx Money Deposit shall be paid immediately to Buyer, all documents deposited in escrow by Buyer shall be returned to Buyer without delayautomatically terminate, Seller shall promptly reimburse to Buyer all reasonable out-of-pocket and third-party property diligence expenses incurred by Buyer related to the PremisesProperty, including, without limitation, reasonable attorneys’ fees and costscosts and, and except as otherwise provided in this Agreement, neither of the Parties shall have any further liability or obligation under this Agreement.