Common use of Tenant’s Election Clause in Contracts

Tenant’s Election. Within ten (10) Business Days after Landlord’s delivery of an Offering Notice to Tenant, Tenant shall either (i) give Landlord written notice that Tenant elects to lease such First Offer Space (the “Acceptance Notice”), or (ii) give Landlord written notice that Tenant elects not to lease the First Offer Space (the “Refusal Notice”). If Tenant timely gives an Acceptance Notice, Landlord and Tenant shall use good faith efforts to negotiate and enter into a written amendment to this Lease incorporating such First Offer space into the Premises demised hereunder. Landlord and Tenant shall enter into such written amendment within thirty days following Landlord’s delivery to Tenant of such written amendment. Such amendment shall provide: a. such First Offer Space shall be demised to Tenant upon delivery of the same by Landlord to Tenant (“First Offer Space Commencement Date”) through the Lease Expiration Date (the “First Offer Space Term”), and shall be considered part of the Premises, provided that all of the terms stated in the Offering Notice shall govern Tenant’s leasing of the First Offer Space, including that the Basic Rent for such First Offer Space shall be the First Offer Space Basic Rent, and appropriate adjustments shall be made to Tenant’s Share of Parking Spaces, Tenant’s Share of Operating Costs and Tenant’s Share of Taxes during the First Offer Space Term to reflect the addition of the First Offer Space to the Premises; and b. such First Offer Space shall be leased by Tenant in its “As-Is” condition subject to Landlord’s obligation to deliver (i) the services set forth in Section 7.4 of this Lease, and (ii) the First Offer Space in accordance with the provisions of Exhibit J.

Tenant’s Election. Within ten (10) Business Days days after the Landlord’s 's delivery of an Offering Notice to the Tenant, the Tenant shall either (i) give the Landlord written notice that the Tenant elects to lease such First Offer Space (the “"Acceptance Notice”"), or (ii) give Landlord written notice that Tenant elects not to lease the First Offer Space (the “"Refusal Notice").Failure to provide either of the notices in the time period set forth herein shall be deemed a Refusal Notice”). If the Tenant timely gives an Acceptance Notice, the Landlord and the Tenant shall use good faith efforts to negotiate and enter into a written amendment to this Lease incorporating such First Offer space Space into the Premises demised hereunder. Landlord and Tenant shall enter into such written amendment hereunder within thirty fifteen (15) days following the Landlord’s 's delivery to the Tenant of such written amendment. Such amendment , which shall provide: a. (i) such First Offer Space shall be demised to the Tenant upon delivery of the same by the Landlord to the Tenant (“First Offer Space Commencement Date”) through the Lease Expiration Date (the “First Offer Space Term”"FIRST OFFER COMMENCEMENT DATE"), and shall be considered part of the Premises, provided that all of the terms stated in the Offering Notice shall govern Tenant’s leasing of the First Offer Space, including that the Basic Rent for such First Offer Space shall be the First Offer Space Basic Rent, and appropriate adjustments shall be made to Tenant’s Share of Parking Spaces, Tenant’s Share of Operating Costs and Tenant’s Share of Taxes during the First Offer Space Term to reflect the addition of the First Offer Space to the Premises; and; b. such First Offer Space shall be leased by Tenant in its “As-Is” condition subject to Landlord’s obligation to deliver (i) the services set forth in Section 7.4 of this Lease, and (ii) the First Offer Space shall be leased on the same terms as set forth in accordance with the Offering Notice (iii) the First Offer Space shall be leased to the Tenant for a term commencing on the First Offer Commencement Date and ending on the expiration or earlier termination of the Term of this Lease; and (iv) the Tenant's lease of the First Offer Space otherwise shall be on substantially the same terms and conditions applicable to the Premises under this Lease as modified by (i) such reasonable provisions as may be necessary to accommodate the fact that the First Offer Space is in a multi-tenant building instead of Exhibit J.a single tenant building and (ii) the inclusion of the material terms set forth in the Offering Notice on which the First Offer Space is being offered to Tenant

Tenant’s Election. Within ten After the twelfth (1012th) Business Days after Landlord’s delivery of an Offering Notice to Tenantmonth from the Commencement Date, Tenant shall either have the right to require Landlord to market the Premises for sale. Landlord shall control all aspects of the sale but will be obligated to sell the Premises in the event the sales price net of all commissions, costs, fees and expenses yields Landlord a minimum price (i“Strike Price”) give Landlord written notice as set forth in Exhibit “E” attached hereto provided further however, that if Tenant elects to lease require Landlord to sell the Premises prior to the thirty-sixth (36th) month from the Commencement Date, then the sales price must include assumption of Landlord’s financing on the Premises. Landlord represents and warrants that its loan document will include a provision that the loan is assumable subject to lender’s review and approval rights as set forth within the loan documents. However, if the lender does not approve the proposed purchaser or the terms of the proposed sale, then Landlord shall have no obligation under this Section to consummate the sale to such First Offer Space (proposed purchaser. In the “Acceptance Notice”), or (ii) give Landlord written notice that Tenant elects not to lease event any such sale would exceed the First Offer Space (the “Refusal Notice”). If Tenant timely gives an Acceptance NoticeStrike Price, Landlord and Tenant shall use evenly share the excess proceeds. Tenant may require Landlord to accept a sales price less than the Strike Price by paying the difference between the two (“Strike Price TENANT’S INITIALS LANDLORD’S INITIALS Differential”) to Landlord at closing. If Landlord, in the exercise of its good faith efforts business judgment believes it can only consummate a sale for less then the Strike Price, it shall provide written notice to negotiate Tenant. Tenant shall have five (5) business days to provide written notice to Landlord whether it elects to require Landlord to accept such offer and enter to deposit the Sales Price Differential into an escrow of Landlord’s choosing 24 hours prior to Landlord executing the purchase contract. At all times, Landlord shall have the right of last refusal to match any offer that meets or exceeds the Strike Price or that Tenant is willing to accept pursuant hereto. Upon consummation of a written amendment sale pursuant to this paragraph 3.2(a), this Lease incorporating such First Offer space into the Premises demised hereundershall terminate. Landlord and Tenant shall enter into such written amendment within thirty days following Landlord’s delivery be entitled to Tenant of such written amendment. Such amendment shall provide: a. such First Offer Space shall be demised to Tenant upon delivery of the same by Landlord to Tenant exercise this right once in any twelve (“First Offer Space Commencement Date”12) through the Lease Expiration Date (the “First Offer Space Term”), and shall be considered part of the Premises, provided that all of the terms stated in the Offering Notice shall govern Tenant’s leasing of the First Offer Space, including that the Basic Rent for such First Offer Space shall be the First Offer Space Basic Rent, and appropriate adjustments shall be made to Tenant’s Share of Parking Spaces, Tenant’s Share of Operating Costs and Tenant’s Share of Taxes during the First Offer Space Term to reflect the addition of the First Offer Space to the Premises; and b. such First Offer Space shall be leased by Tenant in its “As-Is” condition subject to Landlord’s obligation to deliver (i) the services set forth in Section 7.4 of this Lease, and (ii) the First Offer Space in accordance with the provisions of Exhibit J.month period.

Tenant’s Election. Within ten (10) Business Days after Landlord’s 's delivery of an Offering Notice to Tenant, Tenant shall either (i) give Landlord written notice that Tenant elects to lease such First Offer Space (the “"Acceptance Notice”"), or (ii) give Landlord written notice that Tenant elects not to lease the First Offer Space (the “"Refusal Notice”"). If Tenant timely gives an Acceptance Notice, Landlord and Tenant shall use good faith efforts to negotiate and enter into a written amendment to this Lease incorporating such First Offer space into the Premises demised hereunder. Landlord ` and Tenant shall enter into such written amendment within thirty days following Landlord’s 's delivery to Tenant of such written amendment. Such amendment shall provide: a. such First Offer Space shall be demised to Tenant upon delivery of the same by Landlord to Tenant (“"First Offer Space Commencement Date”") through for the Lease Expiration Date (the “First Offer Space Term”), and shall be considered part of the Premises, provided that all of the terms stated in the Offering Notice shall govern Tenant’s 's leasing of the First Offer Space, including that the Basic Rent for such First Offer Space shall be the First Offer Offer. Space Basic Rent, and appropriate adjustments shall be made to Tenant’s 's Share of Parking Spaces, Tenant’s 's Share of Operating Costs and Tenant’s 's Share of Taxes during the First Offer Space Term to reflect the addition of the First Offer Space to the Premises; and b. such First Offer Space shall be leased by Tenant in its “"As-Is” " condition subject to Landlord’s 's obligation to deliver (i) the services set forth in Section 7.4 Article 9 of this Lease, and (ii) the Work Letter shall not apply to the First Offer Space in accordance with the provisions of Exhibit J.Space.

Tenant’s Election. Within ten thirty (1030) Business Days days after the Landlord’s delivery of an Offering Notice to the Tenant, the Tenant shall either (i) give the Landlord written notice that the Tenant elects intends to lease such First Offer Space Space, and if the Tenant wishes to contest the rental rate proposed by the Landlord said notice shall also indicate that Tenant disputes Landlord’s proposed rental rates (the “Acceptance Notice”), or (ii) give Landlord written notice that Tenant elects not to lease the First Offer Space (the “Refusal Notice”). Failure to provide either of the notices in the time period set forth herein shall be deemed a Refusal Notice. If the Tenant timely gives an Acceptance Notice, the Landlord and the Tenant shall use good faith efforts to negotiate and enter into a written amendment to this Lease incorporating such First Offer space Space into the Premises demised hereunder. Landlord and Tenant shall enter into such written hereunder subject to all material terms set forth in said Offering Notice, which amendment is to be executed within thirty days a reasonable time following the Landlord’s delivery to the Tenant of such written amendment. Such amendment which shall in no event be longer than forty-five (45) days after Landlord and Tenant agree on all material terms of the amendment which, pursuant to the express terms hereof are open to negotiation between Landlord and Tenant, and which amendment shall provide: a. (i) such First Offer Space shall be demised to the Tenant upon (A) the later of (I) delivery of the same by the Landlord to the Tenant consistent with the applicable terms of the Offering Notice as accepted by Tenant pursuant to the Acceptance Notice, and (“II) the date set forth therefore in the Offering Notice or (B) such earlier date as Tenant may occupy a substantial portion of the First Offer Space Commencement Date”) through for the Lease Expiration Date conduct of its business as opposed to preparing the First Offer Space for occupancy (the “First Offer Space TermCommencement Date”); (ii) subject to Subsection 2.7(c)(iv) below, and the First Offer Space shall be considered part of leased on the Premises, provided that all of the same terms stated as set forth in the Offering Notice Notice; (iii) the First Offer Space shall govern be leased to the Tenant for a term commencing on the First Offer Commencement Date and ending on the expiration or earlier termination of the Term of this Lease; and (iv) the Tenant’s leasing lease of the First Offer Space, including Space otherwise shall be on substantially the same terms and conditions applicable to the Premises under this Lease as modified by (i) such reasonable provisions as may be necessary to accommodate the fact that the Basic Rent First Offer Space is in a multi-tenant building instead of a single tenant building , (ii) the appropriate recalculation of the Tenant’s Proportionate Share, and (iii) the inclusion of the material terms set forth in the Offering Notice, unless Tenant has disputed Landlord’s proposed rental rates set forth therein, in which case the rental rate for such the First Offer Space shall be the First Offer Space Basic RentFair Rental Value as determined pursuant to Exhibit I, which determination shall be binding on both Landlord and Tenant, and appropriate adjustments shall be made to Tenant’s Share of Parking Spaces, Tenant’s Share of Operating Costs and Tenant’s Share of Taxes during upon the determination thereof the First Offer Space Term shall irrevocably be deemed to reflect the addition have become part of the First Offer Space to the Premises; and b. such First Offer Space shall be leased by Tenant in its “As-Is” condition subject to Landlord’s obligation to deliver (i) the services set forth in Section 7.4 of this Lease, and (ii) the First Offer Space in accordance with the provisions of Exhibit J..