Common use of Procedure for Offer Clause in Contracts

Procedure for Offer. With respect to the first time Landlord receives during the First Offer Period a bona fide proposal from a third party unrelated to Landlord to lease all or any portion of the First Offer Space (other than a proposal by Samsung, or its affiliate or successor, to lease any space in the 10220 Building which is or may be part of the Samsung Relocation Agreement), which proposal Landlord would accept or submit a counter proposal thereto and which proposal is the second writing received by Landlord from such third party expressing an interest in such First Offer Space or portion thereof (such third-party bona fide proposal which Landlord would accept, or the counter-proposal which Landlord would submit to such third party in response thereto, shall be referred to herein as the "THIRD PARTY OFFER"), then prior to the date that Landlord accepts or submits such Third Party Offer to such third-party, but subject to the Superior Rights set forth hereinabove, Landlord shall give Tenant written notice, together with a copy of the Third Party Offer (the "FIRST OFFER NOTICE") that the applicable portion of the First Offer Space identified in such third-party proposal is then available for lease by Tenant. Any such First Offer Notice delivered by Landlord in accordance with the provisions of this Section 1.6.2 shall set forth the terms upon which Landlord would lease the First Offer Space to Tenant, including, without limitation, the following (collectively, the "TERMS"), which Terms shall be (i) the same as the rental rate and other economic terms for such First Offer Space as set forth in the Third Party Offer (other than (x) the length of the term of the lease of such First Offer Space, which shall be the First Offer Space Term as set forth in Section 1.6.6 below, and to the extent the length of the proposed lease term in the Third Party Offer is different than the First Offer Space Term as set forth in Section 1.6.6, Landlord shall make a corresponding adjustment, in the First Offer Notice, to the Terms as necessary so that the same effective rental rate and other economic terms thereof will be applicable to and spread out over such different First Offer Space Term, (y) the number of parking spaces available for Tenant's use with respect to the First Offer Space [which shall be determined pursuant to Section 1.6.7 below], or (ii) if the applicable First Offer Space Commencement Date specified by Landlord in Landlord's First Offer Notice is scheduled to occur prior to the first (1st) anniversary of the Lease Commencement Date as set forth in Landlord's First Offer Notice, the First Offer Space Rent and refurbishment allowance for such First Offer Space, to be specified in the First Offer Notice and included as part of the Terms, shall not be determined based upon the amounts therefor set forth in the Third Party Offer, but instead shall be the amounts therefor as set forth in Sections 1:6.4.1 and 1.6.5(i) below: (A) the rentable square feet of such First Offer Space (which shall be determined by Landlord pursuant to the BOMA Measurement Standard set forth in Section 1.3 above); (B) the anticipated date upon which the First Offer Space will be delivered to Tenant; (C) the First Offer Space Rent (as defined in and determined pursuant to Section 1.6.4 below); (D) any refurbishment allowance for such First Offer Space (as determined pursuant to Section 1.6.5 below); (E) the First Offer Space Commencement Date and the First Offer Space Term for such First Offer Space (as defined in and determined pursuant to Section 1.6.6 below); and (F) the number of parking spaces available for Tenant's use with respect to the First Offer Space (as determined pursuant to Section 1.6.7 below).

Appears in 1 contract

Samples: Nondisturbance and Attornment Agreement (Websense Inc)

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Procedure for Offer. With respect to Landlord shall notify Tenant (the first “Fifteenth Floor First Offer Notice”) each time after the date of this First Amendment that Landlord receives during the First Offer Period a bona fide proposal from a third party unrelated to Landlord to lease or request for proposal for all or any portion of the Fifteenth Floor First Offer Space (other than a proposal by Samsung, or its affiliate or successor, to lease any space in the 10220 Building which is or may be part of the Samsung Relocation Agreement), which proposal Landlord would accept or submit a counter proposal thereto and which proposal is the second writing received by Landlord from such third party expressing an interest in such First Offer Space or portion thereof (such third-party bona fide proposal which Landlord would accept, or the counter-proposal which Landlord would submit to such third party in response thereto, shall be referred to herein as the "THIRD PARTY OFFER"), then prior to the date that Landlord accepts or submits such Third Party Offer to such third-party, but subject to the Superior Rights set forth hereinabove, Landlord shall give Tenant written notice, together with a copy of the Third Party Offer (the "FIRST OFFER NOTICE") that the applicable portion of the First Offer Space identified in such third-party proposal is then available for lease by Tenantseriously consider. Any such The Fifteenth Floor First Offer Notice delivered by Landlord in accordance with shall describe the provisions space which is the subject of this Section 1.6.2 the Fifteenth Floor First Offer Notice and shall set forth the size and location of such space, Landlord’s estimate of the date by which the applicable Fifteenth Floor First Offer Space will be delivered to Tenant (either built-out with typical office tenant improvements or, if an improvement allowance is not a component of the Fifteenth Floor Economic Terms, the date by which such space will be delivered to Tenant vacant and broom clean) the economic terms upon and conditions which Landlord would accept for Tenant’s lease of such space (collectively, the First Offer Space to Tenant“Fifteenth Floor Economic Terms”), including, without limitation, the following (collectivelyBase Rent, any contribution by Landlord to Direct Expenses, any concessions and any contribution by Landlord to the "TERMS"), which improvement of the Fifteenth Floor First Offer Space. Such Fifteenth Floor Economic Terms shall be (i) constitute Landlord’s good faith determination of the same as the rental rate and other then prevailing fair market economic terms for such First Offer Space as set forth in the Third Party Offer (other than (x) the length of the term of the lease of such First Offer Space, which shall be the First Offer Space Term as set forth in Section 1.6.6 below, and to the extent the length of the proposed lease term in the Third Party Offer is different than the First Offer Space Term as set forth in Section 1.6.6, Landlord shall make a corresponding adjustment, in the First Offer Notice, to the Terms as necessary so that the same effective rental rate and other economic terms thereof will be applicable to and spread out over such different First Offer Space Term, (y) the number of parking spaces available for Tenant's use with respect to the First Offer Space [which shall be determined pursuant to Section 1.6.7 below], or (ii) if the applicable First Offer Space Commencement Date specified by Landlord in Landlord's First Offer Notice is scheduled to occur prior to the first (1st) anniversary of the Lease Commencement Date as set forth in Landlord's First Offer Notice, the First Offer Space Rent and refurbishment allowance for such First Offer Space, to be specified in the First Offer Notice and included as part of the Terms, shall not be determined based upon the amounts therefor set forth in the Third Party Offer, but instead shall be the amounts therefor as set forth in Sections 1:6.4.1 and 1.6.5(i) below: (A) the rentable square feet of such First Offer Space (which shall be determined by Landlord pursuant to the BOMA Measurement Standard set forth in Section 1.3 above); (B) the anticipated date upon which the First Offer Space will be delivered to Tenant; (C) the First Offer Space Rent (as defined in and determined pursuant to Section 1.6.4 below); (D) any refurbishment allowance for such First Offer Space (as determined pursuant to Section 1.6.5 below); (E) the First Offer Space Commencement Date and the First Offer Space Term for such First Offer Space (as defined in and determined pursuant to Section 1.6.6 below); and (F) the number of parking spaces available for Tenant's use with respect to the First Offer Space (as determined pursuant to Section 1.6.7 below)space.

Appears in 1 contract

Samples: Office Lease (Health Net Inc)

Procedure for Offer. With respect to Landlord shall notify Tenant (the first time Landlord receives during the First Offer Period a bona fide proposal Notice”) from a third party unrelated time to time as soon as Landlord to lease all or determines that any portion of the First Offer Space (other will become available for lease to third parties provided, however, such notification shall be given not earlier than a proposal by Samsung, or its affiliate or successor, to lease any space in the 10220 Building date which is or may be part twelve (12) months before the actual date of the Samsung Relocation Agreement), which proposal Landlord would accept or submit a counter proposal thereto and which proposal is the second writing received by Landlord from such third party expressing an interest in physical availability of such First Offer Space or portion thereof (such third-party bona fide proposal which Landlord would accept, or the counter-proposal which Landlord would submit Space. Pursuant to such third party in response thereto, shall be referred to herein as the "THIRD PARTY OFFER"), then prior to the date that Landlord accepts or submits such Third Party First Offer to such third-party, but subject to the Superior Rights set forth hereinaboveNotice, Landlord shall give offer to lease to Tenant written noticesuch First Offer Space. The First Offer Notice shall describe the space so offered to Tenant, together with a copy of shall set forth the Third Party “First Offer Rent,” as that term is defined in this Section 1.6.1, below, and shall set forth the other terms upon which Landlord is willing to lease such space to Tenant. The rent payable by Tenant for the First Offer Space (the "FIRST OFFER NOTICE"“First Offer Rent”) shall be at the “Fair Market Rent” for the First Offer Space, as that term is defined in Section 2.2.1.3 of this Lease. Notwithstanding the applicable portion foregoing, upon request by Tenant, Landlord shall, within five (5) business days thereafter, provide to Tenant in writing a listing (the “Available Space List”) of the First Offer Space identified in such third-party proposal that is then available for lease by leasing or which Landlord reasonably believes will become available for leasing in the twenty-four (24) month period following the date of Tenant. Any ’s request, and such First Offer Notice delivered by Landlord in accordance with the provisions of this Section 1.6.2 Available Space List shall set forth the terms upon which Landlord would lease existing term expiration date, the number of any renewal options and their respective exercise mechanisms and dates, the term of any renewal options, and a description of the specific additional space rights relating to the First Offer Space Space, for each then existing lease. Thereafter, Tenant may request that Landlord deliver to Tenant, including, without limitation, the following (collectively, the "TERMS"), which Terms shall be (i) the same Tenant a First Offer Notice as the rental rate and other economic terms for to any such First Offer Space as set forth in on the Third Party Offer (other than (x) the length of the term of the lease of such First Offer Space, which shall be the First Offer Available Space Term as set forth in Section 1.6.6 belowList, and to the extent the length of the proposed lease term in the Third Party Offer is different than the First Offer Space Term as set forth in Section 1.6.6, Landlord shall make deliver a corresponding adjustment, in the First Offer Notice, to the Terms as necessary so that the same effective rental rate and other economic terms thereof will be applicable to and spread out over such different First Offer Space Term, (y) the number of parking spaces available for Tenant's use with respect to the First Offer Space [which shall be determined pursuant to Section 1.6.7 below], or (ii) if the applicable First Offer Space Commencement Date specified by Landlord in Landlord's First Offer Notice is scheduled to occur prior to the first within five (1st5) anniversary business days of the Lease Commencement Date as set forth in Landlord's First Offer Tenant’s Notice, the First Offer Space Rent and refurbishment allowance for such First Offer Space, to be specified in the First Offer Notice and included as part of the Terms, shall not be determined based upon the amounts therefor set forth in the Third Party Offer, but instead shall be the amounts therefor as set forth in Sections 1:6.4.1 and 1.6.5(i) below: (A) the rentable square feet of such First Offer Space (which shall be determined by Landlord pursuant to the BOMA Measurement Standard set forth in Section 1.3 above); (B) the anticipated date upon which the First Offer Space will be delivered to Tenant; (C) the First Offer Space Rent (as defined in and determined pursuant to Section 1.6.4 below); (D) any refurbishment allowance for such First Offer Space (as determined pursuant to Section 1.6.5 below); (E) the First Offer Space Commencement Date and the First Offer Space Term for such First Offer Space (as defined in and determined pursuant to Section 1.6.6 below); and (F) the number of parking spaces available for Tenant's use with respect to the First Offer Space (as determined pursuant to Section 1.6.7 below).

Appears in 1 contract

Samples: Office Lease (Castlight Health, Inc.)

Procedure for Offer. With respect to Landlord shall give Tenant written notice ------------------- (the first time Landlord receives during "First Offer Notice") that the First Offer Period a bona fide proposal from a third party unrelated Space will or has become available for lease by Tenant as provided above (its such availability is determined by Landlord) pursuant to Landlord the terms of Tenant's right of first offer, as set forth in this Section ).3, provided that no holder of Superior Rights desires to lease all or any portion of the First Offer Space (other than a proposal by Samsung, or its affiliate or successor, to lease any space in the 10220 Building which is or may be part of the Samsung Relocation Agreement), which proposal Landlord would accept or submit a counter proposal thereto and which proposal is the second writing received by Landlord from such third party expressing an interest in such First Offer Space or portion thereof (such third-party bona fide proposal which Landlord would accept, or the counter-proposal which Landlord would submit to such third party in response thereto, shall be referred to herein as the "THIRD PARTY OFFER"), then prior to the date that Landlord accepts or submits such Third Party Offer to such third-party, but subject to the Superior Rights set forth hereinabove, Landlord shall give Tenant written notice, together with a copy of the Third Party Offer (the "FIRST OFFER NOTICE") that the applicable portion of the First Offer Space identified in such third-party proposal is then available for lease by Tenantspace. Any such Landlord's First Offer Notice delivered by Landlord in accordance with the provisions of this Section 1.6.2 1.3 above shall set forth the terms upon which Landlord would lease the First Offer Space to Tenant, including, without limitation, the following (collectively, the "TERMS"), which Terms shall be limitation (i) the same as the rental rate and other economic terms for such First Offer Space as set forth in the Third Party Offer (other than (x) the length of the term of the lease of such First Offer Space, which shall be the First Offer Space Term as set forth in Section 1.6.6 below, and to the extent the length of the proposed lease term in the Third Party Offer is different than the First Offer Space Term as set forth in Section 1.6.6, Landlord shall make a corresponding adjustment, in the First Offer Notice, to the Terms as necessary so that the same effective rental rate and other economic terms thereof will be applicable to and spread out over such different First Offer Space Term, (y) the number of parking spaces available for Tenant's use with respect to the First Offer Space [which shall be determined pursuant to Section 1.6.7 below], or (ii) if the applicable First Offer Space Commencement Date specified by Landlord in Landlord's First Offer Notice is scheduled to occur prior to the first (1st) anniversary of the Lease Commencement Date as set forth in Landlord's First Offer Notice, the First Offer Space Rent and refurbishment allowance for such First Offer Space, to be specified in the First Offer Notice and included as part of the Terms, shall not be determined based upon the amounts therefor set forth in the Third Party Offer, but instead shall be the amounts therefor as set forth in Sections 1:6.4.1 and 1.6.5(i) below: (A) the rentable square feet of such First Offer Space (which shall be determined by Landlord pursuant to the BOMA Measurement Standard set forth in Section 1.3 above); (B) the anticipated date upon which the First Offer Space will be delivered to Tenant; available for lease by Tenant and the commencement date therefor, (Cii) a schedule of construction of tenant improvements for the First Offer Space, if any, (iii) the Base Rent payable for the First Offer Space Rent (as defined in and determined pursuant which shall be equal to Section 1.6.4 below); (D) any refurbishment allowance the Fair Market Rental Rate for such First Offer Space (as determined pursuant to Section 1.6.5 below); (E) the First Offer Space Commencement Date and the First Offer Space Term for such First Offer Space (as defined in ill Section 1.3.3 below and as determined pursuant to Section 1.6.6 belowby Landlord), including tenant improvements and tenant improvement allowance for such First Offer Space, (iv) the term of the lease for such space (which may or may not be coterminus with the Lease Term for the initial Premises); (v) the Security Deposit shall be increased by the amount of the First Offer Space Rent payable by Tenant for the last month of the term of the lease for the First Offer Space; and (Fvi) the number of parking spaces available any additional collateral as security for Tenant's use rental and other obligations with respect to the First Offer Space Space, in such amounts and of such types (e.g., cash security deposit, letter of credit and/or stock warrants in Tenant), if any, as shall be determined pursuant to Section 1.6.7 below)as part of the Fair Market Rental Rate calculation.

Appears in 1 contract

Samples: Office Lease (Beatnik Inc)

Procedure for Offer. With respect to the first time Landlord receives during the First Offer Period a bona fide proposal from a third party unrelated to Landlord to lease all or any portion of the First Offer Space (other than a proposal by Samsung, or its affiliate or successor, to lease any space in the 10220 Building which is or may be part of the Samsung Relocation Agreement), which proposal Landlord would accept or submit a counter proposal thereto and which proposal is the second writing received by Landlord from such third party expressing an interest in such First Offer Space or portion thereof (such third-party bona fide proposal which Landlord would accept, or the counter-proposal which Landlord would submit to such third party in response thereto, shall be referred to herein as the "THIRD PARTY OFFER"), then prior to the date that Landlord accepts or submits such Third Party Offer to such third-party, but subject to the Superior Rights set forth hereinabove, Landlord shall give Tenant written notice, together with a copy of the Third Party Offer (the "FIRST OFFER NOTICE") that the applicable portion of the First Offer Space identified in such third-party proposal is then available for lease by Tenant. Any such First Offer Notice delivered by Landlord in accordance with the provisions of this Section 1.6.2 shall set forth the terms upon which Landlord would lease the First Offer Space to Tenant, including, without limitation, the following (collectively, the "TERMS"), which Terms shall be (i) the same as the rental rate and other economic terms for such First Offer Space as set forth in the Third Party Offer (other than (x) the length of the term of the lease of such First Offer Space, which shall be the First Offer Space Term as set forth in Section 1.6.6 below, and to the extent the length of the proposed lease term in the Third Party Offer is different than the First Offer Space Term as set forth in Section 1.6.6, Landlord shall make a corresponding adjustment, in the First Offer Notice, to the Terms as necessary so that the same effective rental rate and other economic terms thereof will be applicable to and spread out over such different First Offer Space Term, (y) the number of parking spaces available for Tenant's use with respect to the First Offer Space [which shall be determined pursuant to Section 1.6.7 below], or (ii) if the applicable First Offer Space Commencement Date specified by Landlord in Landlord's First Offer Notice is scheduled to occur prior to the first (1st) anniversary of the Lease Commencement Date as set forth in Landlord's First Offer Notice, the First Offer Space Rent and refurbishment allowance for such First Offer Space, to be specified in the First Offer Notice and included as part of the Terms, shall not be determined based upon the amounts therefor set forth in the Third Party Offer, but instead shall be the amounts therefor as set forth in Sections 1:6.4.1 and 1.6.5(i) below: (A) the rentable square feet of such First Offer Space (which shall be determined by Landlord pursuant to the BOMA Measurement Standard set forth in Section 1.3 above); (B) the anticipated date upon which the First Offer Space will be delivered to Tenant; (C) the First Offer Space Rent (as defined in and determined pursuant to Section 1.6.4 below); (D) any refurbishment allowance for such First Offer Space (as determined pursuant to Section 1.6.5 below); (E) the First Offer Space Commencement Date and the First Offer Space Term for such First Offer Space (as defined in and determined pursuant to Section 1.6.6 below); and (F) the number of parking spaces available for Tenant's use with respect to the First Offer Space (as determined pursuant to Section 1.6.7 below).

Appears in 1 contract

Samples: Nondisturbance and Attornment Agreement (Websense Inc)

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Procedure for Offer. With respect Subject to the first terms of this Section 1.3.1, Landlord shall notify Tenant from time Landlord receives during to time (the "First Offer Period Notice") when a bona fide proposal from a third party unrelated to Landlord to lease all or any portion of the First Offer Space (other than a proposal by Samsung, or its affiliate or successor, to lease any space in the 10220 Building which is or may be part of the Samsung Relocation Agreement), which proposal Landlord would accept or submit a counter proposal thereto and which proposal is the second writing received by Landlord from such third party expressing an interest in such Potential First Offer Space or any portion thereof (such third-party bona fide proposal which Landlord would accepta “First Offer Space”) will become available for lease to third parties, or free and clear of the counter-proposal which Landlord would submit rights of any Superior Right Holder. Pursuant to such third party in response thereto, shall be referred to herein as the "THIRD PARTY OFFER"), then prior to the date that Landlord accepts or submits such Third Party First Offer to such third-party, but subject to the Superior Rights set forth hereinaboveNotice, Landlord shall give offer to lease to Tenant written notice, together with a copy of the Third Party Offer (the "FIRST OFFER NOTICE") that the applicable portion of the then available First Offer Space identified in such third-party proposal is then available for lease by TenantSpace. Any such The First Offer Notice delivered by Landlord shall describe the space so offered to Tenant and the “First Offer Rent,” as that term is defined in accordance with Section 1.3.3 below, and the provisions of this Section 1.6.2 shall set forth the other material economic terms upon which Landlord would is willing to lease the First Offer Space such space to Tenant, including, without limitation, the following (collectively, the "TERMS"), which Terms shall be limitation (i) the same as rentable square footage and location of the rental rate and other economic terms for such offered space, (ii) the date the space is anticipated to become available (the “Anticipated First Offer Space as set forth in the Third Party Offer Delivery Date”), (other than iii) any tenant improvement allowances, rent concessions and free rent periods, and (xiv) the length of the term of the lease of such First Offer Space, which shall be the First Offer Space Term as set forth in Section 1.6.6 below, and to the extent the length of the proposed lease term in the Third Party Offer is different than the First Offer Space Term as set forth in Section 1.6.6, Landlord shall make a corresponding adjustment, in the First Offer Notice, to the Terms as necessary so that the same effective rental rate and other economic terms thereof will be applicable to and spread out over such different First Offer Space Term, (y) the number of parking spaces available for Tenant's use with respect to the First Offer Space [which shall be determined pursuant subject to Section 1.6.7 below]1.3.5) (collectively, or (ii) if the applicable First Offer Space Commencement Date specified by “Economic Terms”). In no event shall Landlord in Landlord's have the obligation to deliver a First Offer Notice (and Tenant shall have no right to exercise its rights under this Section 1.3) during the last three (3) years of the initial "Lease Term," as that term is scheduled defined in Section 2.1 below; provided, however, that if Tenant timely and validly exercises its first option to occur prior extend the Lease Term in accordance with Section 2.2 below, Tenant shall once again have the Offer Right, subject to the first (1st) anniversary terms and conditions of this Section 1.3, commencing as of the Lease Commencement Date as set forth in Landlord's First Offer Notice, the First Offer Space Rent and refurbishment allowance for such First Offer Space, to be specified in the First Offer date that Landlord receives Tenant’s Exercise Notice and included as part of the Terms, shall not be determined based upon the amounts therefor set forth in the Third Party Offer, but instead shall be the amounts therefor as set forth in Sections 1:6.4.1 and 1.6.5(i) below: (A) the rentable square feet of such First Offer Space (which shall be determined by Landlord pursuant to the BOMA Measurement Standard set forth in Section 1.3 above); (B) the anticipated date upon which the First Offer Space will be delivered to Tenant; (C) the First Offer Space Rent (as defined in Section 2.2.3 below) and determined pursuant to Section 1.6.4 below); terminating as of the last day of the twenty-fourth (D24th) any refurbishment allowance for such First Offer Space (as determined pursuant to Section 1.6.5 below); (E) Lease Month of the First Offer Space Commencement Date and the First Offer Space first Option Term for such First Offer Space (as defined in and determined pursuant to Section 1.6.6 below); and (F) the number of parking spaces available for Tenant's use with respect to the First Offer Space (as determined pursuant to Section 1.6.7 2.2.1 below).

Appears in 1 contract

Samples: Office Lease (Okta, Inc.)

Procedure for Offer. With respect to Landlord shall notify Tenant (the first time Landlord receives during ‘First Offer Notice’) if the First Offer Period Space (or any portion thereof) becomes available for lease to third parties (provided that the Superior Right Holders do not wish to lease such space and provided further that Tenant’s lease of the applicable First Offer Space would be for one (1) year or more) and either (i) Landlord receives a bona “bona-fide proposal offer” from a third party unrelated to Landlord to lease for all or any a portion of the First Offer Space Space, and/or (other than ii) Landlord intends to make a proposal by Samsung, or its affiliate or successor, bona-fide offer to lease any space in the 10220 Building which is or may be part of the Samsung Relocation Agreement), which proposal Landlord would accept or submit a counter proposal thereto and which proposal is the second writing received by Landlord from such third party expressing an interest in such First Offer Space for all or portion thereof (such third-party bona fide proposal which Landlord would accept, or the counter-proposal which Landlord would submit to such third party in response thereto, shall be referred to herein as the "THIRD PARTY OFFER"), then prior to the date that Landlord accepts or submits such Third Party Offer to such third-party, but subject to the Superior Rights set forth hereinabove, Landlord shall give Tenant written notice, together with a copy of the Third Party Offer (the "FIRST OFFER NOTICE") that the applicable portion of the First Offer Space. For purposes of this Section 1.2.1, a ‘bona-fide offer’ shall mean an offer sent or received by Landlord or counter-offer sent or received by Landlord (which shall include the sending or receipt of a space plan, lease proposal or a letter of intent) to lease First Offer Space identified in such third-(or any portion thereof) to or from a qualified third party proposal is then available for lease by Tenantwhich Landlord would otherwise be willing to accept. Any Pursuant to such First Offer Notice, Landlord shall offer to lease to Tenant the First Offer Space (or the applicable portion thereof). The First Offer Notice delivered by Landlord in accordance with shall describe the provisions of this Section 1.6.2 space so offered to Tenant and shall set forth the terms upon which Landlord would ‘First Offer Rent,’ as that term is defined in Section 1.2.3, below. In the event that the First Offer Space becomes available to lease to third parties (provided that the Superior Right Holders do not wish to lease such space), and Tenant desires to lease the First Offer Space to Tenant, including, without limitation, the following (collectively, the "TERMS"), which Terms shall be (i) the same as the rental rate and other economic terms for such First Offer Space as set forth in the Third Party Offer (other than (x) the length of the term of the lease of such First Offer Space, which shall be the First Offer Space Term as set forth in Section 1.6.6 below, and to the extent the length of the proposed lease term in the Third Party Offer is different than the First Offer Space Term as set forth in Section 1.6.6, Landlord shall make a corresponding adjustment, in the First Offer Notice, to the Terms as necessary so that the same effective rental rate and other economic terms thereof will be applicable to and spread out over such different First Offer Space Term, (y) the number of parking spaces available for Tenant's use with respect to the First Offer Space [which shall be determined pursuant to Section 1.6.7 below], or (ii) if the applicable First Offer Space Commencement Date specified by Landlord in Landlord's First Offer Notice is scheduled to occur prior to the first (1stportion thereof) anniversary of the Lease Commencement Date as set forth in Landlord's First Offer Notice, the First Offer Space Rent and refurbishment allowance for such First Offer Space, to be specified in the First Offer Notice and included as part of the Terms, shall not be determined based upon the amounts therefor set forth in the Third Party Offer, but instead shall be the amounts therefor as set forth in Sections 1:6.4.1 and 1.6.5(i) below: (A) the rentable square feet of such First Offer Space (which shall be determined by from Landlord pursuant to the BOMA Measurement Standard set forth terms of this Section 1.2, Tenant may elect to do so upon written notice thereof to Landlord in accordance with Section 1.3 above); (B) the anticipated date upon which the First Offer Space will be delivered to Tenant; (C) the First Offer Space Rent (as defined in and determined pursuant to Section 1.6.4 1.2.2 below); (D) any refurbishment allowance for such First Offer Space (as determined pursuant to Section 1.6.5 below); (E) the First Offer Space Commencement Date and the First Offer Space Term for such First Offer Space (as defined in and determined pursuant to Section 1.6.6 below); and (F) the number of parking spaces available for Tenant's use with respect to the First Offer Space (as determined pursuant to Section 1.6.7 below).

Appears in 1 contract

Samples: Office Lease (BrightSource Energy Inc)

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