Refusal Space definition

Refusal Space means all or any portion of available space in Tower One, or if tenant has fully leased the Building, then in Tower Two.

Refusal Space is used herein for provisions which apply to both the Mid/High-rise Refusal Space and the Low-rise Refusal Space. Such leasing shall be on the terms and conditions set forth in this Section 11; provided, however, that Tenant’s rights under this ROFR with respect to the Low-rise Refusal Space shall not apply to any space wherein an existing tenant of such space wishes to extend or renew the term of its lease or expand its premises, whether such renewal, extension or expansion is pursuant to an option contained in such lease or otherwise. When Landlord has a prospective tenant (“Prospect”) interested in leasing all or any part of any Refusal Space, Landlord shall, prior to or simultaneously with transmission of the Prospect Terms (as hereinafter defined) to the Prospect, so advise Tenant in writing (the “Advice”) of the terms upon which Landlord is willing to lease the Refusal Space to the Prospect (the “Prospect Terms”), and which Advice shall set forth the date on which the Refusal Space shall be available for lease by Tenant. If the term of the lease for the Refusal Space set forth in the Prospect Terms is greater than the remaining Term of this Lease, including any exercised renewal options, then Landlord and Tenant shall, during the five or ten business day period (as applicable, pursuant to subsection (b) below) prior to the date when Tenant must exercise its rights hereunder, negotiate in good faith as to the rental terms to be applicable to the Refusal Space. If’ Tenant elects to lease the Refusal Space by sending the Notice of Exercise, then such Notice of Exercise shall specify whether Tenant is electing to lease the Refusal Space on the Prospect Terms or on the rental terms agreed to by Landlord and Tenant, if such an agreement was reached. If the term offered to the Prospect is less or equal to the remaining Term of this Lease, including any exercised renewal options, then the Prospect Terms shall not apply and the terms shall be Prevailing Market as defined in Section 6(c)(ii) of this Rider. Subject to the provisions of this Section 11, Tenant shall have the right to lease all but not less than all of the Refusal Space.

Refusal Space means any rentable space located in the Building that is currently available or becomes available for lease during the Term, and (ii) Refusal Space shall become “available for lease” when Landlord receives and intends to accept a written offer or term sheet (“Letter of Intent”) from a prospective tenant or its broker (as represented by a letter of intent, offer letter, term sheet or similar document) to lease all or a portion of the rentable space located on a particular floor of the Building, which is not made by such prospective tenant substantially in accordance with or under any lease expansion option, right of first offer, right of first refusal or other contractual right binding on Landlord with respect to all or any portion of such rentable space that exists on the Effective Date of this Lease (each a “Pre-existing Agreement”).

Examples of Refusal Space in a sentence

• Pursuant to such First Refusal Notice, Landlord shall offer to lease to Tenant the applicable First Refusal Space.

• The Refusal Space (including improvements and personalty, if any) shall be accepted by Tenant in its condition and as-built configuration existing on the earlier of the date Tenant takes possession of the Refusal Space or the date the term for such Refusal Space commences, unless the Advice specifies work to be performed by Landlord in the Refusal Space, in which case Landlord shall perform such work in the Refusal Space.

• If the Bona Fide Offer includes space in the Building in addition to the Refusal Space, then the Refusal Space shall be deemed to include, and this Refusal Option shall be deemed to apply to, all of the space included in the Bona Fide Offer.

• If Landlord is delayed delivering possession of the Refusal Space due to the holdover or unlawful possession of such space by any party, Landlord shall use reasonable efforts to obtain possession of the space, and the commencement of the term for the Refusal Space shall be postponed until the date Landlord delivers possession of the Refusal Space to Tenant free from occupancy by any party.

• The First Refusal Notice shall describe the First Refusal Space, and the lease term, rent and other fundamental economic terms and conditions upon which Landlord proposes to lease such First Refusal Space pursuant to the bona-fide third-party offer.

More Definitions of Refusal Space

Refusal Space. MEANS ANY OFFICE SPACE ON FLOORS 1, 2, 3, 4 OR 5 OF THE BUILDING THAT ARE NOT PART OF THE PREMISES OR THE FIRST ADDITIONAL PREMISES AND FROM AND INCLUDING JUNE 2, 1998, SHALL INCLUDE FOR GREATER CERTAINTY THE SPECIAL REFUSAL SPACE.

Refusal Space means a contiguous full floor in the Building, as designated by Landlord (provided that Tenant’s rights with respect to such Refusal Space shall be subject and subordinate to the then-existing rights of other Building tenants as to such space, as well as Landlord’s right to renew any tenant then occupying such space), and (ii) the first sentence of Section 3 of such Rider shall be modified by replacing the phrase “the last day of the 66th Lease Month” with “October 1, 2021”.

Refusal Space means the remaining rentable area of the forty-eighth (48th) floor of the building which the parties hereto agree, for purposes of this Article, shall be deemed to have a rentable square foot area of 7,938.

Refusal Space means approximately 5,989 square feet of vacant space known as Suite 2010 and shall be subject to any option or other right of first refusal previously given to any other tenant in the Building.

Refusal Space means all of the rentable area located on the third floor of the Building which is not part of the original Premises demised under this Lease, and which contains 7,500 square feet of rentable area.

Refusal Space means the contiguous adjacent up to 5,000 rentable square feet of space as shown on Exhibit I-1 attached hereto that is the subject of a Third Party Offer, as defined below.

Refusal Space means, with respect to an Offer, the following portions of space in the Building that the Offeror desires to lease from Landlord: (1) any space that is Eligible Refusal Space and (2) any floor in the Building that is contiguous either to the Eligible Refusal Space contained in such Offer or any Eligible Refusal Space which may then be a part of the Premises.