Common use of Available ROFO Space Clause in Contracts

Available ROFO Space. For the purposes hereof, the “Available ROFO Space” shall be defined as any and all space in the Building as and when such space becomes available for reletting (as hereinafter defined). Available ROFO Space shall be deemed “available for reletting” when Landlord, in its sole judgment, determines that the then current tenant of the applicable Available ROFO Space will vacate the Available ROFO Space at the expiration or earlier termination of such tenant’s lease and any applicable Prior Rights have lapsed or been waived. Tenant acknowledges and agrees that the Available ROFO Space in the Building is currently available and being marketed for lease by Landlord and the term “Initial Lease Up” shall refer to the initial leases (and any extensions or renewals thereof) entered into by Landlord with third party tenants for all or any portion of the Available ROFO Space following the date of this Lease. The parties agree that the provisions of this Article XII shall not apply to any space in the Building until after the applicable space has been leased by Landlord to third party tenants as part of the Initial Lease Up thereof and the tenants or occupants of such space have either not exercised any extension options therefore or not otherwise agreed with Landlord to renew the term of its lease or other occupancy agreement and Landlord determines such space will become available for reletting. In addition, Tenant acknowledges and agrees that Tenant’s rights under this Article XII shall not apply to (i) any space that would otherwise constitute Available ROFO Space and that Landlord leases on a short term basis in order for such space to be available to satisfy Tenant’s expansion option under Section 11.1 (and Tenant expressly agrees that Landlord shall have the right to renew or extend the terms of any such short term leases if Tenant fails to exercise the expansion option under Section 11.1), (ii) the Expansion Premises (as defined in Section 11.1) identified in Landlord’s Expansion Response if Tenant fails to timely exercise Tenant’s expansion option under Section 11.1 until following Landlord’s subsequent lease-up of the applicable Expansion Premises, as the case may be, and the tenants or occupants of such space have either not exercised any extension options therefore or not otherwise agreed with Landlord to renew the term of its lease or other occupancy agreement for such expansion premises and Landlord determines such expansion premises will become available for reletting, and (iii) any space in the Building that Landlord uses or leases or intends to use or lease for the Amenities or any subsequent amenity space in the Building.

Available ROFO Space. For If, at any time during the purposes hereofTerm of the Lease (but only for so long as three (3) years remain in the term of the Lease, or if less than three (3) years remain but Tenant chooses to exercise the Extension Option provided in Rider Section 7 herein simultaneously with Tenant’s election of its rights under this Rider Section 2 and Tenant is entitled to renew pursuant to the provisions thereof), Landlord desires to actively market any space in the Building (other than any partial floor of the Building on which Tenant already leases space pursuant to this Lease, which shall be governed by Rider Section 1 above) which is accessible by the elevator bank(s) serving the Premises at such time (each space, the “Available ROFO Space” ”), then subject to the terms of this Rider Section 2, Landlord shall be defined as any give Tenant written notice (“Available ROFO Notice”) no less than four (4) months and all space no more than twelve (12) months in advance of such event. The Available ROFO Notice shall include, with respect to such Available ROFO Space, Landlord’s good faith estimate (but not binding, subject to the Building as Baseball Arbitration procedure described below) of the Market Rental Rate, the anticipated delivery date (“Anticipated Available ROFO Delivery Date”), and when the location, configuration and size of the Available ROFO Space, concessions offered (in Landlord’s discretion), and whether such space becomes available for reletting (as hereinafter defined). Available ROFO Space shall be deemed “available for reletting” when Landlord, delivered in its sole judgmentthen as-is condition or other condition as selected by Landlord. In the event Tenant desires to lease the Available ROFO Space, determines that within thirty (30) days after the then current tenant date the Available ROFO Notice is delivered to Tenant, Tenant shall give Landlord written notice (“Available ROFO Acceptance Notice”) of its election to lease the Available ROFO Space, the time of giving of the applicable Available ROFO Space will vacate Acceptance Notice to be of the essence of this Section. In the event Tenant desires to lease the Available ROFO Space at the expiration or earlier termination of such tenant’s lease and any applicable Prior Rights have lapsed or been waived. Tenant acknowledges and agrees that but disputes in the Available ROFO Space in Acceptance Notice Landlord’s estimate of the Building is currently available and being marketed for lease by Landlord and Market Rental Rate, the term “Initial Lease Up” parties shall refer to the initial leases have an additional period of fifteen (and any extensions or renewals thereof15) entered into by Landlord with third party tenants for all or any portion business days after Landlord’s receipt of the Available ROFO Space following Acceptance Notice in which to negotiate in good faith the date of this LeaseMarket Rental Rate. The If after such fifteen (15) additional business days, the parties cannot agree that to the provisions of this Article XII Market Rental Rate, the Market Rental Rate shall not apply to any space be determined in accordance with the Building until after the applicable space has been leased by Landlord to third party tenants as part of the Initial Lease Up thereof and the tenants or occupants of such space have either not exercised any extension options therefore or not otherwise agreed with Landlord to renew the term of its lease or other occupancy agreement and Landlord determines such space will become available for reletting. In addition, Tenant acknowledges and agrees that Tenant’s rights under this Article XII shall not apply to (i) any space that would otherwise constitute Available ROFO Space and that Landlord leases on a short term basis in order for such space to be available to satisfy Tenant’s expansion option under Section 11.1 (and Tenant expressly agrees that Landlord shall have the right to renew or extend the terms of any such short term leases if Tenant fails to exercise the expansion option under Section 11.1), (ii) the Expansion Premises (as defined in Section 11.1) identified in Landlord’s Expansion Response if Tenant fails to timely exercise Tenant’s expansion option under Section 11.1 until following Landlord’s subsequent lease-up of the applicable Expansion Premises, as the case may be, and the tenants or occupants of such space have either not exercised any extension options therefore or not otherwise agreed with Landlord to renew the term of its lease or other occupancy agreement for such expansion premises and Landlord determines such expansion premises will become available for reletting, and (iii) any space in the Building that Landlord uses or leases or intends to use or lease for the Amenities or any subsequent amenity space in the BuildingBaseball Arbitration procedure described below.