Superior Rights definition
Superior Rights means (a) any renewal rights, expansion rights, rights of first offer or other similar rights in favor of other tenants in the Project pursuant to written agreements in effect as of the Lease Date provided that the holder of such rights need not exercise such rights in strict accordance with such written agreements to remain a Superior Right and provided further that any such renewal right shall be a Superior Right regardless of whether such renewal is characterized by the parties thereto as a “renewal” or as a “new lease” and (b) with respect to any First Offer Space for which Tenant failed to exercise its right to lease such First Offer Space, the rights of any third party to lease such First Offer Space that are granted to such third party at the time it leases space in the Project following Tenant’s failure to exercise its right pursuant to Section 18.2.2.
Superior Rights shall have the meaning set forth in Section 9.2.
Superior Rights means all renewal and extension options and expansion options (but not rights of refusal or offer or similar rights) hereafter granted to any Building Occupant under a lease (a) which constitutes the initial lease made for the space in question, or (b) as to which Tenant had the right to, but did not, exercise its First Offer Right (each, a “Superior Lease”). At the time of executing a Superior Lease, Landlord shall give Tenant notice specifying the space affected thereby, the tenant, and the dates during which the First Offer Right may be affected and the Superior Rights granted therein, provided that the failure to give such notice shall not affect the rights or obligations of Landlord or Tenant hereunder. The provisions of this Article 9 shall not limit the parties’ rights to expand the Premises from time to time by a mutual agreement and an amendment to this Lease. Any such agreement and amendment shall be deemed to be have been leased by Tenant pursuant to the First Offer Right for purposes of any expansion option, right of first offer, first refusal or similar right granted to any other Building Occupant.
Examples of Superior Rights in a sentence
The Company shall notify HCP prior to the time such rights become effective and shall afford it the opportunity for at least 20 days to determine whether or not it wishes to obtain such Contractual Superior Rights.
For the avoidance of doubt, any higher ratio of (i) the number of Founder Shares to be purchased by such Anchor Investor to (ii) the number of Units allocated in the IPO to such Anchor Investor (not including the over-allotment option or upsizing of the IPO), than the ratio for the Investor as set forth in this Agreement shall be considered Superior Rights.
If any other Anchor Investor is afforded Superior Rights, the SPAC or the Sponsor (as applicable) shall immediately so inform the Investor and disclose to the Investor the terms thereof and the Investor shall have the right to elect to have those Superior Rights, in which case the parties shall promptly amend this Agreement to effect the same.
Notwithstanding any contrary provision in the lease of any Superior Right Holder, such rights of any Superior Right Holder shall continue to be Superior Rights in the event that such Superior Right Holder's lease is renewed or otherwise modified (and irrespective of whether any such renewal is currently set forth in such lease or is subsequently granted or agreed upon, and regardless of whether such renewal is consummated pursuant to a lease amendment or a new lease).
For the avoidance of doubt, any higher ratio for any such other person or entity of the right to receive Founder Shares to its IPO indication than such ratio for such Investor as set forth in this Agreement shall be considered Superior Rights.
More Definitions of Superior Rights
Superior Rights are: (i) an option to extend the Traversa Therapeutics, Inc. lease as to the entire premises of 7,253 square feet (the “Traversa Space”) from February 1, 2013 to January 31, 2016; and (ii) an expansion right for the Traversa Space under the Nereus Pharmaceuticals, Inc. lease and an option to extend such lease as to the entire existing premises of 23,954 square feet (plus the Traversa Space, if applicable) from April 21, 2012 to April 20, 2017. Tenant’s right of first refusal shall be on the terms and conditions set forth in this Section 11.
Superior Rights means the following rights existing as of the date (the "Superior Rights Date") Tenant delivers to Landlord its Request Notice (as defined below) or Landlord delivers to Tenant a Landlord First Offer Notice (as defined below), as the case may be: (i) all lease rights, renewal rights, expansion rights, including any expansion options, must take obligations, first offer or first refusal rights, or any similar rights (collectively, "Applicable Rights") in leases for space in the Building existing as of such Superior Rights Date, along with the right of each tenant which does not have a renewal right set forth in its lease, to renew the lease term for its space provided that such renewal is exercised or agreed to by such tenant at least six (6) months prior to the expiration of such tenant's lease term; (ii) all Applicable Rights in connection with space (including Landlord's right to enter into a lease for such space) described in bona fide lease proposals or letters of intent executed by Landlord as of such Superior Rights Date, whether for new space in the Building, or for the extension of the term of an existing lease of space in the Building or the expansion of the premises identified in any lease of space in the Building, or (iii) the rights of Landlord to enter into any lease for space in the Building, including space subject to Applicable Rights, which is the subject as of such Superior Rights Date of exclusive, bona fide, good faith negotiations involving Landlord and a prospective tenant or an existing tenant in the Building. Further notwithstanding anything to the 804296.08/LAH4321-047/10-7-08/nng/law -7- UNION BANK PLAZA[Union Bank Lease] contrary contained in this Section 1.5, Tenant shall have no such right of first offer during the last two (2) years of the then-current Lease Term unless either (A) as of the date Landlord delivers to Tenant the Response Notice or the Landlord First Offer Notice, as the case may be (as such terms are defined below), Tenant has previously properly exercised its extension option to extend the then-current Lease Term for the Renewed Premises (as defined below) for the next applicable Option Term pursuant to Section 2.2 below, or (B) if the Response Notice or the Landlord First Offer Notice, as the case may be, is delivered on or before the date that is fifteen (15) months prior to the expiration of the then-current Lease Term, then concurrently with Tenant's delivery of Tenant's First Offer Election Notice (as defin...
Superior Rights means the Other Party was attached or associated with City’s Pole before Licensee.
Superior Rights means the following with respect to Two Riverside Center and Three Riverside Center:
a. Two Riverside Center - Landlord shall be entitled to grant up to 10,000 square feet of fixed expansion rights for space in Two Riverside Center that are superior to Tenant's Conditional Right of First Offer. For purposes hereof, the term "fixed expansion rights" shall refer to the option of a third party to lease space in Two Riverside Center, the exercise of which is not contingent upon the space first being available for lease or first being offered for lease to another party. A fixed expansion right may be applicable to either specifically identified space or space to be identified at a later date. Likewise, the effective date under a fixed expansion right may be a date certain or a date to be determined. By way of example, Tenant's First Expansion Option and Second Expansion Option would be considered to be a fixed expansion option. Tenant's Conditional Right of First Offer, on the other hand, would not be considered to be a fixed expansion option.
b. Three Riverside Center - Tenant's Conditional Right of First Offer shall be subject and subordinate to the right of first offer granted to Harvard Vanguard Medical Associates, Inc. ("Harvard") for space in Three Riverside Center, regardless of whether a lease with Harvard is executed subsequent to the execution of this Lease. In addition, Landlord shall be entitled to grant up to 20,000 square feet of fixed expansion rights for space in Three Riverside Center that are superior to Tenant's Conditional Right of First Offer. Such 20,000 square foot amount shall be inclusive of all space that is encumbered by any fixed expansion rights granted to Harvard.
Superior Rights means the rights of the tenants of spaces within the Building, under the existing leases as of the Lease Date shown on Exhibit A-2, if any, pursuant to an express written provision in such lease.
Superior Rights means all rights of Shutterfly, Inc., (or its successors or assigns) with respect to the 3200 Bridge Offer Space under its lease existing as of the date hereof and of tenants under leases of the First Floor Offer Space entered into by Landlord after the date of this Lease in accordance with the terms of this Article 56, each including any renewal, extension, expansion, first offer, first negotiation and other similar rights, regardless of whether such rights are executed strictly in accordance with their respective terms or pursuant to lease amendments or new leases.
Superior Rights has the meaning set forth in Section 2.4.1 “Taking” means the exercise by a Condemning Authority of its power of eminent domain on al! or any part of the Project, either by accepting a deed in lieu of condemnation or by any other manner.