Offer to Landlord. Tenant acknowledges that the terms of this lease, including the Minimum Annual Rent, have been based on the understanding that Tenant physically shall occupy the Premises for the entire Term. Therefore, upon Tenant's request to transfer all or a portion of the Premises, at the option of Landlord, Tenant and Landlord shall execute an amendment to this lease removing such space from the Premises, Tenant shall be relieved of any liability with respect to such space and Landlord shall have the right to lease such space to any party, including Tenant's proposed transferee.
Offer to Landlord. Before assigning this Lease or before subletting the whole or any part of the Leased Premises, the Tenant shall fulfill and observe the following conditions:
Offer to Landlord. Tenant acknowledges that the terms of this lease, including the Minimum Annual Rent, have been based on the understanding that Tenant physically shall occupy the Premises for the entire Term. Therefore, upon Tenant’s request to transfer all or a portion of the Premises, at the option of Landlord, Tenant and Landlord shall execute an amendment to this lease removing such space from the Premises, Tenant shall be relieved of any liability with respect to such space and Landlord shall have the right to lease such space to any party, including Tenant’s proposed transferee. The provisions of this subsection 18(b) notwithstanding, if Landlord so elects to recapture all or a portion of the Premises, Tenant shall have the right to withdraw Tenant’s request for Landlord’s consent to the transfer, provided that Tenant withdraw such request in a written notice to Landlord given not less than 5 business days following Landlord’s election.
Offer to Landlord. Notwithstanding Section 19.01 to the contrary, if Tenant desires to assign or sublease the Premises, Tenant shall first offer the Premises to Landlord under terms and conditions at least as favorable to Landlord as those that would be offered to the Proposed Assignee. Landlord shall have not less than 60 days in which to accept said offer. If Landlord accepts said offer, Landlord and Tenant shall promptly execute documentation, acceptable to Landlord, to effect an assi gnment/subl ease of the Premises to Landlord under said terms and conditions. If Landlord does not accept said offer, then Tenant shall have the rights described in Section 19.01. Any proposal made to a Proposed Assignee that is (a) materially more favorable to the Proposed Assignee than that offered Landlord, or (b) that is accepted by the Proposed Assignee more than 60 days after the earlier of (i) Landlord's rejection of the offer to Landlord, and (ii) Landlord's 60-day acceptance period described above, (c) shall be null and void and shall require a new offer to Landlord under the terms set forth in this Section 19.02.
Offer to Landlord. The last sentence of Section 14.2 is amended by ----------------- deleting the words "until the term of such sublease expires or is terminated."
Offer to Landlord. Tenant acknowledges that the terms of this Lease, including Rent, have been based on the understanding that Tenant shall physically occupy the Premises for the entire Term. Therefore, upon Tenant's request to transfer all or a portion of the Premises, Landlord shall be entitled to sublease from Tenant for Landlord's own account the portion of the Premises proposed to be transferred by Tenant, upon the same terms as those proposed but otherwise upon the form of this Lease. If Landlord so subleases for its own account, Landlord shall have the further right to transfer the Premises to any person, including without limitation other tenants in the Building, and Tenant shall be relieved of any liability with respect to such portion of the Premises so subleased by Landlord until the term of such sublease expires or is terminated.
Offer to Landlord. 17 16.4 Time Limit for Sublet and Assignment...............................17 16.5
Offer to Landlord. If Tenant wishes to assign or sublet this Lease (except to an Exempt Entity) Tenant shall first offer in writing to assign or sublet (as the case may be) to Landlord on the same terms and conditions and for the same Rent as provided in this Lease. Any such first offer shall be deemed to have been rejected unless within) five (5) business days of receipt thereof Landlord delivers written notice of acceptance to Tenant.
Offer to Landlord. Tenant shall give written notice to Landlord of any bona fide proposed assignment or sublease accompanied by: (a) a term sheet, signed by an officer of the proposed assignee or subtenant, which Tenant, acting in good faith, reasonably believes to have been mutually agreed upon by Tenant and the proposed assignee or subtenant, setting forth all of the material business and economic terms of the proposed assignment or sublease, including without limitation, the commencement date, base rent, term, real estate tax, operating expense and cleaning cost escalation, electricity charges, common area electric, free rent, construction allowance, other concessions, payments to be made for Improvements or Tenant's Property, and the like; (b) a statement reasonably satisfactory to Landlord setting forth in reasonable detail the identity of the proposed assignee or sublessee, the nature of its business and (for a proposed sublease) the space to be sublet; (c) financial information with respect to the proposed assignee or sublessee reasonably satisfactory to Landlord, including its financial reports for its current business year and its two (2) prior business years; and (d) other information reasonably requested by Landlord. The notice shall constitute an offer from Tenant (the "Offer") for Landlord, at Landlord's option, exercisable in Landlord's sole discretion, to (i) terminate this Lease or sublease the Premises from Tenant (if the proposed transaction is an assignment of this Lease or a sublease of all or substantially all of the Premises for any period of time), (ii) terminate this Lease with respect to the space covered by the Offer or sublease from Tenant the space covered by the Offer for the balance of the Lease Term (if the proposed transaction is a sublease of part of the Premises for all or substantially all of the remaining Lease Term, i.e., for a term that ends two (2) years or less prior to the end of the Lease Term) or (iii) sublease the space covered by the Offer (if the proposed transaction is a sublease of part of the Premises for less than all or substantially all of the remaining Lease Term). Landlord may exercise one of these options by notice to Tenant at any time within twenty (20) Business Days after receipt of the Offer, and during such period Tenant shall not assign this Lease or sublet the space covered by the Offer to any Person. If Landlord fails to respond to Tenant's notice within the said period of twenty (20) Business Days, Tenant may se...
Offer to Landlord. Tenant shall give notice to Landlord of any desires assignment or sublease accompanied by (a) a copy of the proposed assignment or sublease, (b) a statement setting forth in reasonable detail the identity of the proposed assignee or sublessee, the nature of its business and (for a proposed sublease) the space to be sublet and (c) current financial information with respect to the proposed assignee or sublessee, including, without limitation, its most recent financial report. The notice shall constitute an offer from Tenant (the "Offer") to Landlord to (i) sublease the space covered by the Offer upon the terms and conditions set forth below if the proposed transaction is a sublease of all or part of the Premises for any period of time, (ii) terminate this Lease if the proposed transaction is an assignment of this Lease or a sublease of all or substantially all of the Premises for any period of time or (iii) terminate this Lease with respect to the space covered by the Offer if the proposed transaction is a sublease of part of the Premises for any period of time. Landlord may exercise its option by notice to Tenant at any time within sixty days after receipt of the Offer, and during such sixty-day period Tenant shall not assign this Lease or sublet the space covered by the Offer to any person. The Offer shall be given by Tenant no earlier than three months prior to any proposed assignment or sublease.
