ROFO Space means any leasable space in the Building which is not occupied by a tenant or which is occupied by a then-existing tenant whose lease is expiring within 9 months or less and such tenant does not wish to renew (whether or not such tenant has a right to renew) its occupancy of such space. Tenant acknowledges that if Landlord so elects, in its sole and absolute discretion, all or any portion of the ROFO Space may be built out by Landlord on a “spec” basis and offered to Tenant in such condition pursuant to this Section 39(a). The first time all or a portion of the ROFO Space becomes available after the initial leasing of the ROFO Space following the mutual execution of this Lease by the parties, Landlord shall, at such time as Landlord shall elect so long as Tenant’s rights hereunder are preserved, deliver to Tenant written notice (the “ROFO Notice”) of the availability of such ROFO Space, together with the terms and conditions on which Landlord is prepared to lease Tenant such ROFO Space. Tenant shall be required to exercise its right under this Section 39(a) with respect to all of the ROFO Space described in the ROFO Notice (the “Identified ROFO Space”). The term of this Lease with respect to the ROFO Space may not be co-terminous with the Term of this Lease with respect to the then-existing Premises. Tenant shall have 5 days following receipt of the ROFO Notice to deliver to Landlord written notification of Tenant’s exercise its Right of First Offer with respect to the Identified ROFO Space (“Exercise Notice”). If Tenant does not deliver an Exercise Notice to Landlord within such 5 day period, then Tenant shall be deemed to have forever waived its rights under this Section 39(a) to lease the Identified ROFO Space, and Landlord shall have the right to lease the Identified ROFO Space to any third party on any terms and conditions acceptable to Landlord. 3115 Xxxxxxxxxx/Erasca - Page 35
ROFO Space that is subject to Section 1(a) of the Lease shall also include 0000 Xxxxx Xxxxx (but shall not include 0000 Xxxxx Xxxxx); provided that such right as to 0000 Xxxxx Xxxxx is subject to the following pre-existing superior rights as of the Effective Date: existing tenant Intersect ENT has an option to extend its lease on its entire premises. For purposes of illustration and not to create any additional or greater rights than those created in this Section and in Section 1(a) of the Lease, Exhibit "C" attached hereto and made a part hereof depicts the ROFO Space and 0000 Xxxxx Xxxxx. As a point of clarification, 0000 Xxxxx Xxxxx is also subject to Lessor's election to redevelop the building. If Lessor elects to redevelop another building at 1555 Xxxxx, Lessee shall have such ROFO right on the redeveloped building.
ROFO Space shall have the meaning as set forth in Section 28.1.
Examples of ROFO Space in a sentence
Landlord shall determine the exact location of any demising walls (if any) for the ROFO Space.
If an Event of Default exists at any time after Landlord receives Tenant’s ROFO Notice but before the first day that Tenant commences to lease the ROFO Space, Landlord, at Landlord’s option, shall have the right to nullify Tenant’s exercise of the ROFO with respect to the ROFO Space.
Should less than five (5) years remain in the Lease Term, Tenant shall have the option to lease the ROFO space for either (i) the "market" lease term for new leases in comparable buildings in downtown Nashville or {ii) exercise Tenant's Renewal Option and renew the Lease for the existing Premises, in which case the term for ROFO Space will match the renewed term for the existing Premises.
If Landlord is delayed delivering possession of the ROFO 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 ROFO Space shall be postponed until the date Landlord delivers possession of the ROFO Space to Tenant free from occupancy by any party.
The base rent for the ROFO Space shall be the then Fair Market Rent.
More Definitions of ROFO Space
ROFO Space means any space located on the fifth (5th) and sixth (6th) floors of the Building, but only after the expiration of the term of a New Lease (hereinafter defined) demising all or any portion of such space. As used herein, the term “New Lease” means a lease of any portion of the ROFO Space between Landlord and any third party, which lease is entered into after the Effective Date. Notwithstanding any provision of this Lease to the contrary, Tenant shall have no rights with respect to the ROFO Space or any other rights of first offer or refusal, or first right to negotiate, or any other expansion rights whatsoever, except as expressly provided in this paragraph 6.19.
ROFO Space means all tenant space in the Building. Tenant’s rights shall be subject to all rights of E-Dialog to lease such space, as identified in Exhibit I attached hereto, whether by expansion, extension, rights of first offer, or otherwise, but shall be superior to all other tenant’s rights (without limiting the foregoing, Landlord acknowledges that Tenant’s superior rights hereunder apply with respect to space for which a lease is expiring, whether or not Landlord and such tenant desire to extend that tenant’s lease of such space). With respect to space that is vacant and not subject to a lease as of the Date of this Lease, as shown on Exhibit I attached hereto. Tenant’s rights under this Section 2.5 shall arise only after the expiration of any lease for such space entered into after the Date of this Lease.
ROFO Space means all or a portion of the remaining 21,133 rentable square feet of tenant space in the Building. Tenant’s rights under this Section 2.4 shall arise only after the expiration of any lease for the ROFO Space entered into after the Date of this Lease.
ROFO Space. As set forth in Exhibit D.
ROFO Space means all or any tenant space in the North Building. Tenant’s rights shall be subject to all rights of existing tenants to lease any ROFO Space, whether by expansion, extension, rights of first offer, or otherwise. [***] is the only tenant of the Building having rights to lease the ROFO Space.
ROFO Space means the space leased by GreatCall in the 10945 Building (i.e., Suites B400, B300 and B120) and the space leased by Chokar in the 10945 Building (i.e., Suite 100) (collectively, “Existing Tenants”), and (b) for purposes of determining the “fair market rental rate” (as defined in Rider No. 2 to the Original Lease and as determined by Landlord and set forth in the ROFO Notice) for any ROFO Space, the fair market rental rate shall be determined by Landlord based on the higher of fair market office use or fair market life science/lab use rents. In no event shall ROFO Space include any space in the 10955 Building. For the avoidance of doubt, the Right of First Offer shall apply separately to each ROFO Space which fits the foregoing definition and comes available during the Second Extended Term but shall be a one-time Right of First Offer as to each separate ROFO Space. Such Right of First Offer is subject to the rights of the Existing Tenants, including any renewal or extension of the lease of any such tenant whether or not such renewal or extension is pursuant to an express written provision in such lease and regardless of whether any such renewal or extension is consummated pursuant to an amendment or a new lease. Rider No. 3 attached to the Original Lease and Paragraph 5 of Rider No. 1 attached to the First Amendment are hereby deemed deleted in their entirety.
ROFO Space means any space on the second (2nd), fourth (4th) or fifth (5th) floors of the Building, provided that ROFO Space may include other space in the Building marketed by Landlord together with the ROFO Space, even if such other space is not on the second, fourth or fifth floors of the Building.