Lessee’s Preemptive Right Sample Clauses
The Lessee’s Preemptive Right clause grants the lessee the first opportunity to purchase or lease the property if the lessor decides to sell or lease it to a third party. In practice, this means that before the lessor can accept an offer from another party, they must present the same terms to the lessee, who then has a specified period to match or accept the offer. This clause ensures the lessee has priority in acquiring the property, protecting their interests and investment in the leased premises.
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Lessee’s Preemptive Right. The Lessor hereby acknowledges, in favor of the Lessee, the preemptive right for the purchase of the Property or the Construction, over any third party interested in acquiring it in the event the Lessor decides to offer it for sale. Accordingly, it is mutually agreed upon that if the Lessor decides to sell the Property or receives an offer for it from any third party, within five (5) days after the decision to sell or receipt of the offer, it shall inform the Lessee, through a reliable means, the specific conditions of the transaction, mentioning the date, deadlines, price, financing, if any, and other details, so that the Lessee can, within thirty (30) days, also in writing and through a reliable means, if it will make use of its preemptive right. If the Lessee does not respond within this period, it shall be understood that the Lessee shall not exercise its preemptive right. If, on the other hand, the Lessee expresses that it will exercise its preemptive right, it shall have a privilege to consummate the transaction in its favor in conditions equal to those offered by possible third parties, or in the conditions agreed with the Lessor in case the latter decides to put the Property on sale upon no concrete offer and the Lessee decides to purchase that Property.