Xxxxx of Option; Conditions. Tenant shall have the right to extend the Term (the “Renewal Option”) for one additional period of 5 years commencing on the day following the Termination Date of the initial Term and ending on the 5th anniversary of the Termination Date (the “Renewal Term”), if:
Xxxxx of Option; Conditions. Tenant shall have the one-time right of first offer (the “Right of First Offer”) with respect to lease any available space in Building 1 (the “Offering Space”). Tenant’s Right of First Offer shall be exercised as follows: if Landlord either (x) is prepared to make an offer to lease all or any portion of the Offering Space to, or (y) has received an offer to lease all or any portion of the Offering Space, which offer Landlord is prepared to accept, from any bona fide prospect other than the then-current tenant or occupant thereof, Landlord shall advise Tenant (the “ROFO Advice”) of the terms of such offer that Landlord is prepared to make or accept, which ROFO Advice shall constitute an offer to lease the Offering Space to Tenant on such terms contained in the ROFO Advice for the remainder of the Term. Tenant may lease such Offering Space in its entirety only, by delivering written notice of exercise to Landlord (the “Notice of Exercise”) within seven (7) days after the date of the ROFO Advice, stating either that (i) Tenant shall lease the Offering Space under the terms in Landlord’s ROFO Advice, or (ii) Tenant shall lease the Offering Space under the terms in Landlord’s ROFO Advice, except that the Base Rent for such Offering Space shall be at the Prevailing Market rate as determined in Section V, subsections (C), (D), and (F) of this Third Amendment. In the event, Tenant fails to deliver its Notice of Exercise within the aforesaid seven-(7)-day period, Tenant shall be deemed to have declined to exercise its right to lease the Offering Space set forth in Landlord’s ROFO Advice. In no event shall Tenant have such Right of First Offer and Landlord need not provide Tenant with an ROFO Advice, if:
Xxxxx of Option; Conditions. In the event that the current tenant in the adjacent 7th floor suite vacates the space. Tenant shall have the one time right of first offer (the "Right of First Offer" with respect to the adjacent 7th floor suite on the 7th floor of the Building shown on the demising plan attached hereto as Exhibit A-3 (the "Offering Space") Tenant's Right of First Offer shall be exercised as follows: at any time after Landlord has determined that the existing tenant in the Offering Space will not extend or renew the term of its lease for the Offering Space (but prior to leasing such Offering Space to a party other than the existing tenant). Landlord shall advise Tenant (the "Advice") of the terms under which Landlord is prepared to lease the Offering Space to Tenant for the remainder of the Term, which terms shall reflect the Prevailing Market (hereinafter defined) rate for such Offering Space as reasonably determined by Landlord. Tenant may lease such Offering Space in its entirety only, under such terms, by delivering written notice of exercise to Landlord (the "Notice of Exercise") within 10 days after the date of the Advice, except that Tenant shall have no such Right of First Offer and Landlord need not provide Tenant with an Advice, if:
Xxxxx of Option; Conditions. Tenant shall have the one time right of first offer (the “Right of First Offer”) with respect to any available space in the Building. Tenant’s Right of First Offer shall be exercised as follows: at any time after Landlord has determined that available space (the “Offering Space”) exists, then, before leasing such Offering Space to a party other than the existing tenant thereof or any party holding existing rights in such Offering Space as of the date of this Amendment. Landlord shall give Tenant written notice (the “Advice”) of the terms under which Landlord is prepared to lease the Offering Space to Tenant. Tenant may lease such Offering Space in its entirety only, under such terms, by delivering written notice of exercise to Landlord (the “Notice of Exercise”) within 5 Business Days after the date of the Advice, except that Tenant shall have no such Right of First Offer and Landlord need not provide Tenant with an Advice, if:
Xxxxx of Option; Conditions. Tenant shall have the right (the “Second Extension Option”) to extend the Extended Term for one additional period of two (2) years commencing on the day following the Extended Expiration Date and ending on the second anniversary of the Extended Expiration Date (the “Second Extension Term”), if:
Xxxxx of Option; Conditions. 1. Subject to the terms of this Section 7.3, Tenant shall have a one-time right of first offer (for purposes of this Section 7.3, “
Xxxxx of Option; Conditions. Tenant shall have a one-time right of first offer (the “Right of First Offer”) with respect to each of: (i) the 14,007 rentable square feet of office space, known as Suite 0120 and located on the first (1st) floor of the Building (the “First Floor RFO Premises”), as shown on Exhibit B, First Amendment, attached hereto and incorporated herein, and (ii) the 13,694 rentable square feet of office space, known as Suite 0310 and located on third (3rd) floor of the Building (the “Third Floor RFO Premises”), as shown on Exhibit B-1, First Amendment, attached hereto and incorporated herein (each of the First Floor RFO Premises and Third Floor RFO Premises, an “Offering Space”). Tenant’s Right of First Offer shall be exercised as follows: at any time after Landlord has determined that the existing tenant in the applicable Offering Space will not extend or renew the term of its lease for the applicable Offering Space (but prior to leasing such Offering Space to a party other than the existing tenant or any party holding expansion rights to such space as of the Execution Date as provided in Subsection E below), Landlord shall advise Tenant (the “Advice”) of the terms under which Landlord is prepared to lease the Offering Space to Tenant, including the Base Rent, Tenant’s improvement allowance, if any, renewal term and all other terms. Tenant may lease such Offering Space under such terms, by delivering written notice of exercise to Landlord (the “Notice of Exercise”) within ten (10) Business Days after the date of the Advice, except that Tenant shall have no such Right of First Offer and Landlord need not provide Tenant with an Advice, if: If Tenant does not accept the terms set forth in the Advice by delivering a Notice of Exercise within such 10-day period, and, subject to the conditions listed in paragraphs 1 through 6 immediately above, Landlord thereafter is prepared to offer such space on new terms that have a net economic value that is less than 90% of the net economic value of the terms set forth in the Advice, Landlord agrees to offer such new terms to Tenant by delivering an updated Advice to Tenant, in which event the foregoing provisions of this Section 6 shall govern as if the updated Advice were the original Advice delivered to Tenant, including without limitation the requirement that Tenant shall exercise such Right of First Offer, if at all, by delivering a Notice of Exercise within ten (10) Business Days after the date of the updated Advice.
Xxxxx of Option; Conditions. Tenant shall have an ongoing right of first refusal (the “Right of First Refusal”) with respect to the approximately 36,885 rentable square feet of space consisting of the 7th floor of the East Tower Building, shown on the demising plan attached hereto as Exhibit F-1 (the “Refusal Space”). Tenant’s Right of First Refusal shall be exercised as follows: when Landlord has a prospective tenant, other than the then-existing tenant in the applicable portion of the Refusal Space, (the “Prospect”) interested in leasing all or a portion of the Refusal Space, Landlord shall advise Tenant (the “Advice”) of the terms under which Landlord is prepared to lease such portion of the Refusal Space to such Prospect and Tenant may lease such portion of the Refusal Space, under such terms, by providing Landlord with written notice of exercise (the “Notice of Exercise”) within 5 Business Days after the date of the Advice, except that Tenant shall have no such Right of First Refusal and Landlord need not provide Tenant with an Advice if:
Xxxxx of Option; Conditions. If Tenant validly exercises its First Renewal Option, Tenant shall have the right to extend the Term (the “Second Renewal Option”) for one additional period of 5 years commencing on the day following the expiration date of the First Renewal Term and ending on the 5th anniversary of such expiration date (the “Second Renewal Term”), if:
Xxxxx of Option; Conditions. Tenant shall have the right to extend the Term (each a “Renewal Option”) for two (2) additional periods of three (3) years (each a “Renewal Term”), if:
