Common use of Tenant’s Right of First Offer Clause in Contracts

Tenant’s Right of First Offer. A. First Offer Space. Commencing on the Commencement Date, Tenant (or a Permitted Transferee as defined in Article 16.B hereinabove) shall have a continuing right of first offer to lease Suite 500 (consisting of 10,485 rentable square feet) located on the Fifth Floor of the Building (the “First Offer Space”), which is currently vacant, and, therefore, currently “available for lease.” Without limitation, the First Offer Space shall not be deemed “available for lease” within the meaning of this paragraph 32.A, if any currently existing tenant of the Building exercises an expansion option or right of first offer or refusal to lease the First Offer Space, which expansion option or right of first offer or refusal is included in such tenant’s lease and has been granted prior to the Commencement Date. Prior to the execution of this Lease, Landlord shall provide Tenant with a list of all tenants having priority over Tenant’s rights under the preceding sentence. In the event that the First Offer Space shall become available for lease during the Term (regardless of whether or not Landlord has offered such First Offer Space or any other First Offer Space to Tenant previously) prior to negotiating a lease of such First Offer Space to any other party Landlord shall so notify Tenant in writing (“Landlord’s ROFO Notice”), identifying the availability date (or estimated availability date), the rental rate, any proposed tenant improvement allowance and the other basic terms upon which Landlord desires to lease such First Offer Space.

Tenant’s Right of First Offer. A. Provided that (a) Tenant is not then in default under any of the terms, covenants or conditions of this Lease on Tenant's part to be observed or performed beyond applicable notice and cure periods and (b) the original named Tenant of this Lease (i.e., Immunomedics, Inc.) or any assignee or subtenant for which Landlord's consent was not required under the terms of this Lease, in contradistinction to any other subtenants or other occupants, shall then be leasing the entire Demised Premises then Tenant shall have the one-time right (sometimes referred to herein as "Tenant's First Offer Space. Commencing on Right"), subject to the Commencement Dateprovisions of this Lease, Tenant (or a Permitted Transferee as defined exercisable in Article 16.B hereinabove) shall have a continuing right accordance with the provisions of first offer Section 29.2, to lease Suite 500 the entirety of the first space in the Building which is contiguous to the Demised Premises (consisting such space, the "Additional Space"), which becomes "available for leasing" during the Lease Term. No Additional Space shall be deemed "available for leasing" if(a) the then tenant of 10,485 rentable square feetthe Additional Space or any assignee, successor, subtenant or other occupant holding through or under such tenant, shall enter into (i) located on any Lease with Landlord extending the Fifth Floor letting Lease affecting the Additional Space or (ii) any new lease with Landlord affecting the Additional Space, or (b) any other tenant of the Building or any assignee or successor of such other tenant shall have or shall exercise any contractual option or right which it has as of the date of this Lease to lease the Additional Space (whether the “First Offer Additional Space in question is specifically referred to in any such contractual option or right or Landlord must utilize such Additional Space in question in order to satisfy such contractual option or right). Without limiting the foregoing, so long as a tenant or other occupant leases or occupies a portion of the applicable Additional Space”), which is currently vacantLandlord shall be free to extend any such tenancy or occupancy, andwhether or not pursuant to a lease or other Lease, therefore, currently “available for lease.” Without limitation, the First Offer Space and such space shall not be deemed “to be available for lease” within leasing. Notwithstanding the meaning foregoing provisions of this paragraph 32.ASection 29.1, if Tenant shall not have the right to lease any currently existing tenant Additional Space pursuant to Tenant's First Offer Right which becomes available for leasing if, the Expected Vacancy Date (as defined in Section 29.2A) as set forth in Landlord's Availability Notice (as defined in Section 29.2A) is later than the date two (2) years immediately preceding the then current Expiration Date of the Building exercises an expansion option or right Lease unless Tenant simultaneously with its giving of first offer or refusal to lease the Tenant's First Offer Space, which expansion option or right of first offer or refusal is included Notice exercises its Renewal Option (as defined in such tenant’s lease and has been granted prior to the Commencement Date. Prior to the execution of this Lease, Landlord shall provide Tenant with a list of all tenants having priority over Tenant’s rights under the preceding sentence. In the event that the First Offer Space shall become available for lease during the Term (regardless of whether or not Landlord has offered such First Offer Space or any other First Offer Space to Tenant previously) prior to negotiating a lease of such First Offer Space to any other party Landlord shall so notify Tenant in writing (“Landlord’s ROFO Notice”Section 30.1), identifying the availability date (or estimated availability date), the rental rate, any proposed tenant improvement allowance and the other basic terms upon which Landlord desires to lease such First Offer Space.

Tenant’s Right of First Offer. A. First Offer Space. Commencing on Provided Tenant is not then in default and has not been in default under this Lease more than once during the Commencement DateTerm, and provided that Tenant (has not subleased or assigned its interest in the Premises or any portion thereof in a transaction other than a Permitted Transferee Transfer, as defined in Article 16.B hereinabove) Section 8.16, Landlord shall have give Tenant a continuing right of first offer to lease Suite 500 (consisting of 10,485 rentable square feet) located on the Fifth Floor of any and all space that becomes available in the Building (the “First "Offer Space”), which is currently vacant, and, therefore, currently “available for lease.” Without limitation, the First Offer Space shall not be deemed “available for lease” within the meaning of this paragraph 32.A, ") if any currently existing tenant of the Building exercises an expansion option or right of first offer or refusal to lease the First Offer Space, which expansion option or right of first offer or refusal is included in such tenant’s lease and has been granted prior to the Commencement Date. Prior to the execution of this Lease, Landlord shall provide Tenant with a list of all tenants having priority over Tenant’s rights under the preceding sentence. In the event that the First Offer Space shall space should become available for lease during the Term (regardless of whether or not Landlord has offered such First this Lease. In the event the Offer Space should become available, Landlord shall give Tenant a written notice stating when the Offer Space will become available and the terms and conditions for leasing such space that would be acceptable to Landlord. Tenant shall have five (5) Business Days after such notice to enter into an Amendment to this Lease adding the Offer Space to Tenant's Premises upon the specific terms and conditions set forth in Landlord's notice and otherwise upon the terms and conditions of this Lease. In no event shall Tenant be entitled to an additional tenant finish allowance or any other First inducements or concessions provided for in this Lease unless the same are expressly included in Landlord's written notice regarding the Offer Space. If Tenant does not enter into such an Amendment within such five Business Day period, Tenant's right of first offer shall be void and of no further force or effect with respect to such Offer Space. Tenant's right of first offer shall be in effect only during the initial Term of the Lease and shall not apply to any extension or renewal of this Lease. Further, Tenant's right of first offer shall be subordinate and subject to any renewal rights of any tenant occupying the Offer Space to Tenant previously) prior to negotiating a lease of such First Offer Space and to any other party right of refusal or right of offer previously given by Landlord shall so notify Tenant in writing (“Landlord’s ROFO Notice”), identifying to any other tenant with respect to the availability date (or estimated availability date), the rental rate, any proposed tenant improvement allowance and the other basic terms upon which Landlord desires to lease such First Offer Space.