Proposal to Lease Sample Clauses
The 'Proposal to Lease' clause outlines the initial terms and conditions under which a landlord offers to lease a property to a prospective tenant. It typically details key elements such as the rental rate, lease duration, permitted use, and any special conditions or requirements that must be met before a formal lease agreement is executed. This clause serves as a preliminary agreement, providing a framework for negotiation and ensuring both parties have a clear understanding of the basic terms before committing to a binding lease, thereby reducing misunderstandings and streamlining the leasing process.
Proposal to Lease. Subject to the rights of existing tenants in the Building, if Landlord receives a bona fide offer to lease any space in the Building (the “ROFR Space”) during the term of this Lease as extended, or negotiates a bona fide lease of ROFR Space (other than a Lease for which Tenant has not elected to exercise Tenant’s Right of First Refusal to Lease) during the term of this Lease as extended with a third party, and so long as (i) no default exists under this Lease, and (ii) this Lease is in full force and effect, Landlord shall provide a copy of such written offer or lease to Tenant (the “Written Notice of Lease”).
Proposal to Lease. Subject to the rights granted under leases of space within the Building as of the date hereof, if Landlord receives a bona fide written and signed offer to lease space contiguous to the Leased Premises on the third (3rd) floor of the Building (the “ROFR Space”) during the Term with a third party which Landlord desires to accept, and so long as (i) no default exists under this Lease beyond any applicable cure periods, and (ii) this Lease is in full force and effect, Landlord shall provide a copy of such written offer to Tenant (the “Written Notice of Lease”). Landlord will not be permitted to send a Written Notice of Lease prior to the Rent Commencement Date.
Proposal to Lease. If Landlord proposes to lease any space within the Building to a third party (other than leases of space pursuant to expansion rights, rights of first refusal or rights of first offer granted to tenants in the Building as of the date of this Lease), and so long as (i) no default exists under this Lease, and (ii) this Lease is in full force and effect, Landlord shall first notify Tenant in writing of Landlord’s desire to lease such space in the Building (the “Written Notice of Lease”).
Proposal to Lease. Subject to Section 34.2, and provided Tenant is not in default hereunder, whenever any Rentable Area located on any floor on which the Premises are located is available for lease to others (the "AVAILABLE Space"), Tenant shall have a right of first offer as set forth herein. Provided Tenant has given Landlord notice of Tenant's interest in leasing Available Space (which notice shall contain the approximate amount of Rentable Area in which Tenant is interested) Landlord shall not, within ninety (90) days after receipt of such notice, enter into or commit to enter into any lease of Available Space without first proposing to Tenant a rent and other lease terms for such space. In no event shall the Basic Rent for the Available Space per square foot of Rentable Area be less than the Basic Rent per square foot of Rentable Area payable by Tenant for the Premises initially leased hereunder, as the same is adjusted from
Proposal to Lease. Subject to the terms and conditions of this Section 1.6, and provided Tenant is not then in Default under this Lease, Tenant shall have a continuous right of first offer to lease any and all space in the South tower of the Building, should such space become available for lease (the “Available Space”) during the Lease Term, as set forth herein. For purposes of this Section 1.6, Available Space shall not include (i) space for which leases in effect on the date hereof, which currently contain renewal or extension rights, are being renewed or extended (provided that such leases need not be extended or renewed per the terms of the extension/renewal rights set forth in the leases), a schedule of which space is contained in Exhibit “H” attached hereto, (ii) space which is the subject of options to expand or rights of first offer granted to any other person or tenant, which rights are in existence on the date hereof, a schedule of which space is contained in Exhibit “H” attached hereto, or (iii) space for which the remaining Lease Term, as it may have been renewed, would be less than eighteen (18) months (unless Tenant exercises its right of first offer hereunder simultaneously with a Renewal Option); provided that if Landlord intends to lease the Available Space to a third party for a term of less than eighteen (18) months, Tenant shall be entitled to lease such Available Space in accordance with the provisions hereof for such shorter term, or the remainder of the Lease Term (as it may be renewed) whichever is longer. Furthermore, Available Space shall exclude Suite 200S (which is currently leased to Pfizer), but only to the extent that Landlord enters into a direct lease of such space to Summit Entertainment, which is the current subtenant of the space. If a space does not qualify as Available Space due to the renewal or extension of an existing lease for such space, or due to the exercise of an existing option or right to lease such space by another person or tenant as set forth above, then such space may subsequently qualify as Available Space if, during the Lease Term, the existing lease for such space, or the lease of such space pursuant to an option or right held by another person or tenant, expires and the tenant thereunder does not extend or renew such lease, or if such lease terminates prior to its expiration date. The Expansion Space shall not be considered Available Space hereunder except as follows: if Tenant fails to exercise the Expansion Option by ...