Common use of expires Clause in Contracts

expires. In the event the Port determines on the Right of First Refusal Date that the Premises as shown on Exhibit "A" attached hereto should be leased, licensed or assigned to a third party, the Port shall prior to leasing, licensing or assigning said Premises to a third party give Lessee fifteen (15) days' prior written notice of its intent to so lease, license or assign said Premises together with the term of such lease, license or assignment and the rental and/or other consideration to be received from the third party for such lease, license or assignment and Lessee may thereafter within fifteen (15) days of the Port's notice give notice to the Port of its intention to lease, license or assign the Premises for the same term and rental and/or other consideration as that set forth in the Port's notice. It is understood and agreed that Lessee's right of first refusal as above set forth shall not be applicable in instances in which the Port itself develops or redevelops the Premises for its own use or common Airport use or for the ultimate use by third parties. In the event Lessee so exercises its right to so lease the Premises, said Lease shall be effective thirty (30) days after the date of the Port's said notice and if Lessee does not so exercise its right within fifteen (15) days of the Port's notice, Lessee's right to exercise its option to lease the Premises shall immediately expire.

expires. In the event the Port determines on the Right of First Refusal Date that the Premises as shown on Exhibit "A" attached hereto should be leased, licensed or assigned to a third party, the Port shall prior to leasing, licensing or assigning said Premises to a third party give Lessee fifteen (15) days' prior written notice of its intent to so lease, license or assign said Premises together with the term of such lease, license or assignment and the rental and/or other consideration to be received from the third party for such lease, license or assignment and Lessee may thereafter within fifteen (15) days of the Port's notice give notice to the Port of its intention to lease, license or assign the Premises for the same term and rental and/or other consideration as that set forth in the Port's notice. It is understood and agreed that Lessee's right of first refusal as above set forth shall not be applicable in instances in which the Port itself develops or redevelops the Premises for its own use or common Airport use or NATIONAL AIRMOTIVE CORPORATION MAIN BUILDING LEASE - 2 - 7 for the ultimate use by third parties. In the event Lessee so exercises its right to so lease the Premises, said Lease shall be effective thirty (30) days after the date of the Port's said notice and if Lessee does not so exercise its right within fifteen (15) days of the Port's notice, Lessee's right to exercise its option to lease the Premises shall immediately expire.