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 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.
Examples of ROFO Space in a sentence
The base rent for the ROFO Space shall be the then Fair Market Rent.
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.
Notwithstanding the foregoing, space leased under any of the following circumstances shall not be considered to be comparable for purposes hereof: (i) the lease term is for less than the lease term of the ROFO Space, (ii) the space is encumbered by the option rights of another tenant, or (iii) the space has a lack of windows and/or an awkward or unusual shape or configuration.
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”).
If Tenant fails to deliver notice accepting the terms of the Expansion Notice within such 15-business-day period, Tenant shall be deemed to have waived its right to lease such ROFO Space.
More Definitions of ROFO Space
ROFO Space shall have the meaning as set forth in Section 28.1.
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 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. As set forth in Exhibit D.
ROFO Space means the space designated as “ROFO Space” on the attached Exhibit A-2, and containing approximately 7,222 rentable square feet of space. Notwithstanding any provision of the 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 Section 32.
ROFO Space means the following: (i) for the first three (3) years of the Term following the Commencement Date, the ROFO Space shall consist only of the last full available floor of the two-story portion of the Building (the “HP Premises”) and the last full available floor of the building located on the Stevens Creek Property (i.e., until and unless Landlord proposes to enter into a lease which would leave less than one complete floor available in either the Stevens Creek Property or the HP Premises, Landlord is not required to offer the ROFO to Tenant for such space); and (ii) after the third (3rd) anniversary of the Commencement Date, any rentable space which is available in the Project and the Stevens Creek Property and not included within the Premises; provided, however, that (1) no space in the Stevens Creek Property shall be included in the ROFO Space from and after the date Landlord sells the Stevens Creek Property, and (2) rentable space in the Project and the Stevens Creek Property which is not part of the Premises shall not be ROFO Space if any existing tenant wishes to extend or modify the terms and conditions of its lease with respect to its then existing premises (as opposed to any new or additional ROFO Space not already leased to such tenant).
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.