Common use of First offer period Clause in Contracts

First offer period. As used herein, the term “FIRST OFFER PERIOD” shall mean the period commencing on the expiration of the Lease-up Period and continuing through the balance of the Term of this Lease, provided, however, that the First Offer Period shall not include the last one (1) year of the Term or any renewal thereof pursuant to Section 32, unless Tenant has exercised an option granted to Tenant, if any, in this Lease to extend the Term hereof for the applicable renewal period described in Section 32.

First offer period. As used herein, the term “"FIRST OFFER PERIOD” " shall mean the period commencing on the expiration of the Lease-up Period and continuing through the balance of the Term of this Lease, provided, however, that the First Offer Period shall not include the last one (1) year of the Term or any renewal thereof pursuant to Section 32, unless Tenant has exercised an option granted to Tenant, if any, in this Lease to extend the Term hereof for the applicable renewal period described in Section 32.