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

Tenant’s Right of First Refusal. In the event that at any time during the Term or the Extended Term, Landlord should receive an offer to acquire its interest in the whole or any portion of the Property, and if such offer is acceptable to Landlord, or if Landlord should make an offer to sell, convey or transfer the whole or any portion of its interest in the Property, the Tenant shall have, and Landlord does hereby grant to Tenant, the right of first refusal to acquire Landlord's interest in the Property under the same terms and conditions as such offer; provided, however, that if such offer to acquire or to sell, convey or transfer all or any portion of the Property is part of an offer to acquire other property from Landlord, in addition to all or any portion of the Landlord's interest in the Property, Tenant may exercise the right of first refusal granted in this Section 26.3 only by agreeing, to acquire all of the property which is the subject of the offer on the same terms, conditions and payment timetable as in the original offer. Upon receipt of any such acceptable offer or upon transmittal of any offer, Landlord shall certify a complete, true and correct copy of such offer to Tenant including all of the terms thereof. Tenant shall have a period of 20 days from the date of the receipt of such certification to exercise such right of first refusal by Notice to Landlord within such period. Failure to exercise the right with respect to any -60- 66 particular offer shall not terminate the right with respect to any other offer. If Tenant refuses to acquire the Property pursuant hereto and Landlord sells the Property to a third party, such sale shall provide that it is subject to the rights of Tenant under this Lease.

Appears in 1 contract

Samples: Lease Agreement (Unison Healthcare Corp)

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Tenant’s Right of First Refusal. In the event that at any time during the Term or the Extended Term, Landlord should receive an offer to acquire its interest in the whole or any portion of the Property, and if such offer is acceptable to Landlord, or if Landlord should make an offer to sell, convey or transfer the whole or any portion of its interest in the Property, the Tenant shall have, and Landlord does hereby grant to Tenant, the right of first refusal to acquire Landlord's interest in the Property under the same terms and conditions as such offer; provided, however, that if such offer to acquire or to sell, convey or transfer all or any portion of the Property is part of an offer to acquire other property from Landlord, in addition to all or any portion of the Landlord's interest in the Property, Tenant may exercise the right of first refusal granted in this Section section 26.3 only by agreeing, agreeing to acquire all of the property which is the subject of the offer on the same terms, conditions and payment timetable as in the original offer. Upon receipt of any such acceptable offer or upon transmittal of any offer, Landlord shall certify a complete, true and correct copy of such offer to Tenant including all of the terms thereof. Tenant shall have a period of 20 days from the date of the receipt of such certification to exercise such right of first refusal by Notice to Landlord within such period. Failure to exercise the right with respect to any -60- 66 particular offer shall not terminate the right with respect to any 61 68 other offer. If Tenant refuses to acquire the Property pursuant hereto and Landlord sells the Property to a third party, such sale shall provide that it is subject to the rights of Tenant under this Lease.

Appears in 1 contract

Samples: Lease Agreement (Unison Healthcare Corp)

Tenant’s Right of First Refusal. In the event that at any time during the Term Tenn or the Extended Term, Landlord should receive an offer to acquire its interest in the whole or any portion of the Property, and if such offer is acceptable to Landlord, or if Landlord should make an offer to sell, convey or transfer the whole or any portion of its interest in the Property, the Tenant shall have, and Landlord does hereby grant to Tenant, the right of first refusal to acquire Landlord's interest in the Property under the same terms and conditions as such offer; provided, however, that if such offer to acquire or to sell, convey or transfer all or any portion of the Property is part of an offer to acquire other property from Landlord, in addition to all or any portion of the Landlord's interest in the Property, Tenant may exercise the right of first refusal granted in this Section section 26.3 only by agreeing, agreeing to acquire all of the property which is the subject of the offer on the same terms, conditions and payment timetable as in the original offer. Upon receipt of any such acceptable offer or upon transmittal of any offer, Landlord shall certify a complete, true and correct copy of such offer to Tenant including all of the terms thereof. Tenant shall have a period of 20 days from the date of the receipt of such certification to exercise such right of first refusal by Notice to Landlord within such period. Failure to exercise the right with respect to any -60- 66 particular offer shall not terminate the right with respect to any 54 61 other offer. If Tenant refuses to acquire the Property pursuant hereto and Landlord sells the Property to a third party, such sale shall provide that it is subject to the rights of Tenant under this Lease.

Appears in 1 contract

Samples: Lease Agreement (Unison Healthcare Corp)

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Tenant’s Right of First Refusal. In the event that at any time during the Term or the Extended Term, Landlord should receive an offer to acquire its interest in the whole or any portion of the Property, and if such offer is acceptable to Landlord, or if Landlord should make an offer to sell, convey or transfer the whole or any portion of its interest in the Property, the Tenant shall have, and Landlord does hereby grant to Tenant, the right of first refusal to acquire Landlord's interest in the Property under the same terms and conditions as such offer; provided, however, that if such offer to acquire or to sell, convey or transfer all or any portion of the Property is part of an offer to acquire other property from Landlord, in addition to all or any portion of the Landlord's interest in the Property, Tenant may exercise the right of first refusal granted in this Section 26.3 only by agreeing, to acquire all of the property which is the subject of the offer on the same terms, conditions and payment timetable as in the original offer. Upon receipt of any such acceptable offer or upon transmittal of any offer, Landlord shall certify a complete, true and correct copy of such offer to Tenant including all of the terms thereof. Tenant shall have a period of 20 days from the date of the receipt of such certification to exercise such right of first refusal by Notice to Landlord within such period. Failure to exercise the right with respect to any -60- 66 particular offer shall not terminate the right with respect to any other offer. If Tenant refuses to acquire the Property pursuant hereto and Landlord sells the Property to a third party, such sale shall provide that it is subject to the rights of Tenant under this Lease.Tenant

Appears in 1 contract

Samples: Lease Agreement (Unison Healthcare Corp)

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