FIRST RIGHT TO LEASE. Subject to the terms hereof, if (i) during the Term of this Lease there exists no Default of Tenant under Section 23(a)(i) of this Lease, and (ii) Tenant shall not have assigned this Lease or currently sublet more than fifty percent (50%) of the Premises (other than to an affiliated entity or successor as described in Section 20(b) above), and Tenant then actually occupies at least fifty percent (50%) of the Premises, and (iii) this Lease is still in full force and effect and at least two (2) years then remain in the Term (all of which conditions are for the benefit of, and may be waived by, Landlord), then at the time each of the two spaces in the Building that are immediately adjacent to the Premises and currently occupied by A.J. Mailing and Securadyne Northeast (each, a “First Offer Space”) becomes unencumbered from any existing renewal or extension options, Landlord shall so notify Tenant, and deliver with such notice a description of that portion (if less than all) of such First Offer Space that is available for lease (the “Offered Space”) and all of the material terms and conditions on which Landlord is willing to so lease the Offered Space to Tenant (including without limitation the rent, any allowances and the rentable square footage of the Offered Space). Tenant shall have a one-time right on each First Offer Space, which Tenant may exercise by giving Landlord notice within ten (10) days after receipt of Landlord’s notice with respect to such First Offer Space, to irrevocably elect to lease the Offered Space on the terms and conditions set forth in Landlord’s notice. If Tenant shall so elect to lease the Offered Space (and provided that the conditions in clauses (i) through (iii) above continue to exist at the time of execution of such lease or amendment), Landlord shall furnish a commercially reasonable draft lease or lease amendment incorporating such terms and conditions set forth in Landlord’s notice, and Tenant shall, within ten (10) Business Days after receipt of such lease or amendment, execute and deliver the same to Landlord, but Tenant’s failure to enter into such lease or amendment shall have no effect on Tenant’s right or obligation to lease the Offered Space, unless Landlord shall elect to nullify Tenant’s election as a result thereof. Except as herein provided, if Tenant shall fail to elect to lease any Offered Space within such 10-day period (time being of the essence), Tenant shall have no further rights with respect to such First...
FIRST RIGHT TO LEASE. If, during the original Term or any Extension Term, Sublandlord elects to Sublease any space in the Building, then Sublandlord shall first offer such space in writing to Subtenant on terms and conditions no less favorable than those terms Sublandlord is willing to offer such space to third parties which shall be the then fair market rental value for the Premises. If within ten (10) days after receipt of such offer, Subtenant does not notify Sublandlord that Subtenant elects to Sublease such space, then Sublandlord shall be relieved of any obligations to Subtenant with regard to any such offering; provided, however, that a failure by Subtenant to Sublease any specific space when so offered by Sublandlord shall not relieve Sublandlord of its obligation to first offer Subtenant any other space in the Building if, as and when Sublandlord elects to offer such other space to third parties. If Subtenant exercises its first right to Sublease, Sublandlord and Subtenant shall negotiate in good faith the fair market rental rate for the first right space and if the parties are unable to agree upon such fair market value within thirty (30) days of Subtenant’s election to Sublease such space (the “Outside Agreement Date”), the parties shall submit such fair market rental rate for determination by appraisal in accordance with Paragraph 27, below.
FIRST RIGHT TO LEASE. 1.1 Should any portion of the Building become vacant during the Lease Term or any renewal, which vacancy is contiguous to the Premises, and which shall be called the First Right to Lease Space ( hereinafter called "FRTL Space"); and if Lessor receives an offer to lease said space acceptable to Lessor (hereinafter called the "FRTL Lease Offer"), then Lessor shall give Lessee written notice of the FRTL Lease Offer setting forth the terms and conditions thereof.
FIRST RIGHT TO LEASE. A. In the event any portion of office space on the sixth floor shall become available for lease by Tenant after consideration of the existing rights of tenants (or their assigns) under the leases in effect as of the date of this Lease to exercise either renewal, extension or expansion rights, and provided that at such time the First Offer Conditions (below defined) shall be in effect, then and in such event Tenant shall be afforded a right to lease such available space (the “Available Space”) within the Building upon the terms and conditions more particularly described in this Article 31. For purposes hereof, the First Offer Conditions shall include all of the following; namely: (i) no Event of Default shall have occurred and be continuing; (ii) Tenant shall not then be the subject of an Event of Bankruptcy, (iii) there shall remain in effect at the time that the Available Space is anticipated to be delivered to Tenant not less than three (3) years within the Term then in effect and (iv) the original named Tenant shall remain in occupancy of the Demised Premises.
FIRST RIGHT TO LEASE. During the Lease term, Lessee shall have an ongoing first right to lease all, but not less than all, any then-available space on the Building’s fifth (5th) floor on the same terms as provided in this Lease (the “5th Floor FRL”). Lessor shall notify Lessee in writing when space becomes vacant or otherwise available on the 5th floor. Lessee shall have ten (10) business days after receipt of Lessor’s written notice to elect to lease said space (on the same terms of this Lease) by providing Lessor written notice of Lessee’s exercise of its 5th Floor FRL. If Lessee does not timely exercise its 5th Floor FRL as provided herein, Lessor may proceed to lease such space to third parties. The five (5) months of free rent described in section 3 of this Lease shall not apply to any space leased pursuant to the 5th Floor FRL. Lessor shall not offer to rent any available space on the Building’s 5th floor to any potential tenant prior to August 1, 2012.
FIRST RIGHT TO LEASE. During the Lease term, Tenant shall have the one time first right to lease, subject to any existing tenant’s renewal options or first right to lease, any space that is horizontally adjacent to the Premises (“Offer Space”) which Tenant desires to lease before Landlord leases such Offer Space to a third party, subject to the following. If Landlord desires to lease any portion of the Offer Space to a specific prospective Tenant with which Landlord is in active lease discussions, Landlord must notify Tenant (Landlord’s notice being referred to herein as the “Offer Notice”). The Offer Notice shall specify all of the business terms of the proposed terms to such prospective Tenant. Tenant may, by written notice delivered to Landlord within five business (5) days following the date of Tenant’s receipt of such Offer Notice (Tenant’s notice being referred to herein as an “Election Notice”), elect to lease the Offer Space identified in the Offer Notice upon the same terms and conditions as set forth in such offer to such prospective Tenant. If Tenant timely sends such written notice to Landlord, Landlord and Tenant shall enter into an amendment to this Lease for the purpose of adding such space to the terms of this Lease and making any other adjustments which may be appropriate in connection therewith. If Tenant does not timely send Landlord Tenant’s Election Notice, Landlord shall thereafter be entitled to lease such portion of the Offer Space upon the terms set forth in the Offer Notice to the prospective Tenant set forth therein.
FIRST RIGHT TO LEASE. If, during the original or any additional term hereof, Landlord elects to lease any space in Building 2 of Govexxxx Xxxx Xxxxx, 0000 Xxxxxxxxx Xxxxx, xxen Landlord shall first offer such space in writing to Tenant on terms and conditions no less favorable than those offered to third parties. If within twelve (12) days after receipt of such offer, Tenant does not notify Landlord that Tenant elects to lease such space, then Landlord shall be relieved of any obligations to Tenant with regard to any such offering; provided, however that a failure by Tenant to lease any specific space when so offered by Landlord shall not relieve Landlord of its obligation to first offer Tenant any other space in Building 2 if, as and when Landlord elects to offer such other space to third parties.
FIRST RIGHT TO LEASE. In the event that Landlord decides to lease Suite 525 and/or Suite 530 in txx Xxxxxxxx, Xxxxxx xxxxx have a first right to lease such space. Prior to entering into a lease for all or a portion of the Suite 525 or 530 (the "Option Space"), Landlord shall provide Tenant with written notice of its intent to lease such space ("Lease Notice"). Tenant shall have five (5) business days from its receipt of the Lease Notice to provide written notice of Tenant's exercise of its right to lease the Option Space. If Tenant exercises its right to lease the Option Space, Tenant shall lease the Option Space on the same terms and conditions as for the Third Expansion Lease Space, except as follows:
FIRST RIGHT TO LEASE. Landlord hereby grants to Tenant a first right to lease all of the feasible space adjacent to the 1047 Xxxxxx, as described on Exhibit A ("1049 Xxxxxx"), subject to the following terms and conditions:
FIRST RIGHT TO LEASE. Section 59 of the Original Lease is hereby deleted in its entirety and replaced with the following:
