Partial Floor definition
Examples of Partial Floor in a sentence
Except for such waiver, Tenant’s rights under this Rider Section 1 are continuous and, therefore, if the lease in favor of a third party of the Partial Floor ROFO Space expires or otherwise terminates, and Landlord desires to accept an offer to lease such Partial Floor ROFO Space after the expiration of the third party Lease, Landlord shall again give Tenant notice of its right to lease such Partial Floor ROFO Space (subject to the provisions of this Rider Section 1).
Upon substitution of the New Premises for the Partial Floor Premises, the Rentable Area of the New Premises shall be substituted for the Rentable Area of the Partial Floor Premises.
The new space shall be provided with improvements of comparable quality to those within the Partial Floor Space.
Landlord hereby grants Tenant a right of first offer to lease (i) all remaining space on the sixth (6th) or seventh (7th) floor of the Building which is not already part of the Premises (the “Partial Floor”) and (ii) all space on any floor which is adjacent to the Premises, but only if Tenant has already leased the balance of the Partial Floor (or other tenants have leased the balance of the Partial Floor and there is no further space on such floor).
In the event Tenant desires to lease the Partial Floor ROFO Space, within thirty (30) days after the date the Partial Floor ROFO Notice is delivered to Tenant, Tenant shall give Landlord written notice (“Partial Floor ROFO Acceptance Notice”) of its election to lease the Partial Floor ROFO Space, the time of giving of the Partial Floor ROFO Acceptance Notice to be of the essence of this Section.
In the event that Tenant fails to exercise its right as aforesaid within thirty (30) days of the date the Partial Floor ROFO Notice is given to Tenant or, in the event Tenant shall have exercised its right and Tenant shall not have executed an amendment of this Lease as aforesaid within thirty (30) days from the date the Tenant is given such an Amendment, Tenant shall be deemed to have waived its right under this Rider Section 1.
Tenant shall be deemed to have waived its rights under this Section as to the Partial Floor ROFO Space described in the applicable Partial Floor ROFO Notice in the event that Tenant is in Default under this Lease as of the date of either the Partial Floor ROFO Notice or Partial Floor ROFO Acceptance Notice.
Except as set forth in the Partial Floor ROFO Notice (and this Rider Section 1), the terms and conditions of the Lease as they apply to the Premises shall govern Tenant’s lease of the Partial Floor ROFO Space.
Landlord shall use commercially reasonable efforts to remove any prior tenant holding over in the applicable Partial Floor ROFO Space.
After receipt of any Partial Floor ROFO Acceptance Notice (and, if applicable, any subsequent determination of the Market Rental Rate as provided in Rider Section 1(a) above), Landlord and Tenant shall enter into an amendment to the Lease acceptable to Landlord and Tenant to amend the Lease accordingly.