Common use of RIGHT OF FIRST OFFER ON CERTAIN ADDITIONAL SPACE Clause in Contracts

RIGHT OF FIRST OFFER ON CERTAIN ADDITIONAL SPACE. (a) Provided this Lease is then in full force and effect and Tenant is not then in default hereunder (beyond any applicable notice and cure periods), in the event that during the Initial Term any of the Additional Space (defined below) becomes available (meaning that no other tenant or occupant is occupying the Additional Space, has entered into occupancy of the Additional Space or any portion thereof, or has executed a lease or occupancy agreement or a written commitment or letter of intent to lease or occupy same), Tenant shall have the one-time right of first offer to lease such Additional Space subject to and in accordance with the terms and conditions set forth in this Section 2.02. The Additional Space shall be comprised of the contiguous space in the “A Building” shown on Exhibit I attached hereto (the “Additional Space”). If at any time from and after the Term Commencement Date, any of the Additional Space shall become available for occupancy, Landlord shall notify Tenant thereof in writing (“Landlord’s Additional Space Notice”), which notice shall include the anticipated estimated date upon which such Additional Space shall become available for occupancy by Tenant, the proposed term for the Additional Space and the economic terms upon which Landlord would be willing to lease the Additional Space to Tenant. Tenant shall have the right to lease all such Additional Space described in Landlord’s Additional Space Notice only by giving written notice to Landlord within ten (10) days after Tenant receives Landlord’s Additional Space Notice, time being of the essence For the purposes hereof, space shall be deemed “available for occupancy” when any lease or occupancy agreement (including extension periods) has expired or is due to expire within not less than six (6) months, or Landlord has elected not to renew or otherwise extend the lease of the present tenant, and any prior options, rights or rights to lease with respect to such Additional Space have expired or been waived and Landlord is free to lease such space to third parties without restriction,

Appears in 1 contract

Samples: Commencement Date Agreement (Cyteir Therapeutics, Inc.)

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RIGHT OF FIRST OFFER ON CERTAIN ADDITIONAL SPACE. 2.5.1 Provided (ai) Provided this Lease is then in full force and effect and Tenant is not then in default hereunder (beyond any applicable notice and cure periods), in the event that during the Initial Term grace period under any of the Additional terms and conditions of this Lease at the time it elects to exercise its rights hereunder or, at Landlord’s option, at the time of the delivery of the Available Space (as defined below); and (ii) becomes available the Tenant originally named herein (meaning that no other tenant or occupant is occupying the Additional Space, has entered into occupancy a Permitted Transferee) continues to occupy and operate in not less than 40,348 rentable square feet of the Additional Space or any portion thereof, or has executed a lease or occupancy agreement or a written commitment or letter of intent to lease or occupy samePremises (excluding the Basement Space), Tenant shall have the one-time right of first offer to lease such Additional Space any space in the Building that becomes available for occupancy (the “Available Space”) subject to and in accordance with the terms and conditions set forth in this Section 2.02. The Additional Space shall be comprised of the contiguous space in the “A Building” shown on Exhibit I attached hereto (the “Additional Space”)2.5. If at any time from and after the Commencement Date and during the Term Commencement Date, of this Lease there shall be any of the Additional Space shall become available for occupancyAvailable Space, Landlord shall notify Tenant thereof in writing (“Landlord’s Additional Available Space Notice”), which notice shall include the anticipated estimated date upon which such Additional Available Space shall become be available for occupancy by Tenant, Tenant along with a floor plan showing the proposed term for the Additional Space and the economic terms upon which Landlord would be willing to lease the Additional Space to Tenantapproximate rentable square footage thereof. Tenant shall have the right to lease all such Additional Available Space described in Landlord’s Additional Space Notice only by giving written notice to Landlord within ten twenty (1020) business days after Tenant receives Landlord’s Additional Available Space Notice, time being of the essence essence. If Tenant so elects to lease the Available Space, such Space shall be leased upon the same terms and conditions contained in this Lease, except that: (x) if Landlord delivers such Space to Tenant on or prior to December 31, 2007, Fixed Rent for the applicable Available Space shall be equal to Fixed Rent then being charged for the Premises (and shall increase) as set forth in Section 1.2, or (y) if Landlord delivers such Available Space after December 31, 2007, the Fixed Rent for such space shall be equal to the Fair Market Rental Value Burlington Wxxxx — Color Kinetics therefor determined in accordance with Section 3.2 below, and in either event the Letter of Credit shall be increased proportionately to reflect the inclusion of such Available Space, and the Available Space shall be and become part of the Premises hereunder upon the delivery of such Available Space to Tenant. It is understood and agreed that the Available Space shall be leased by Tenant in its then “as is”, “where-is” condition, without warranty or representation by Landlord and Landlord shall have no obligation to complete any work to prepare the applicable Space for Tenant’s use and occupancy; provided, however, that if any such Available Space is delivered on or prior to December 31, 2007, Tenant shall be entitled to a pro-rated Tenant improvement allowance applicable to the Available Space fit-up equal to the Improvement Allowance (as defined below) per rentable square foot pro rated based on, and reduced by, the ratio of the number of months remaining in the original Lease Term to the number of months in the original Lease Term (e.g., if Landlord tenders Available Space to Tenant in the 10th month of the Lease Term, the applicable improvement allowance would be an amount not to exceed $40.00 — [$40.00 x 10/120] = $36.67) and shall be paid in accordance with the terms and conditions of Section 13 to Exhibit E. Following such election by Tenant, and effective as of the delivery of the applicable Available Space and for the balance of the Term and any extension thereof: (a) the “Premises”, as used in this Lease, shall include the applicable Available Space; (b) the “Rentable Floor Area of the Premises” shall be increased to include the rentable square footage of the applicable Available Space; and (c) the annual Fixed Rent shall equal the sum of the Fixed Rent provided for in this Lease plus the Fixed Rent for the applicable Available Space as determined as set forth herein. To confirm the inclusion of the Available Space as set forth above, Landlord shall prepare, and Landlord and Tenant shall promptly execute and deliver, an Amendment to Lease reflecting the foregoing terms and incorporation of any Available Space. For the purposes hereof, space shall be deemed “available for occupancy” when any lease or occupancy agreement (including extension periods) has expired or is due to expire within not less than six (6) months, or Landlord has elected not to renew or otherwise extend the lease of the present tenant, and any prior options, rights or rights to lease with respect to such Additional Available Space have expired or been waived and Landlord is free to lease such space to third parties without restriction,.

Appears in 1 contract

Samples: Lease Agreement (Color Kinetics Inc)

RIGHT OF FIRST OFFER ON CERTAIN ADDITIONAL SPACE. (a) Provided this Lease is then in full force and effect and there then exists no uncured Event of Default on the part of Tenant is not then in default hereunder (beyond any applicable notice and cure periods)hereunder, in the event that during the Initial Term any of the Additional Space (defined below) becomes available (meaning that no other tenant or occupant is occupying the Additional Space, has entered into occupancy of the Additional Space all or any portion thereof, or has executed a lease or occupancy agreement or a written commitment or letter of intent to lease or occupy same), Tenant shall have the one-time right of first offer to lease such Additional Space subject to and in accordance with the terms and conditions set forth in this Section 2.02. The Additional Space shall be comprised of the contiguous space in on Execution the “A Building” Xxxxx 000 xx Xxxxxxxx X xxx xxx Xxxxx 000 xx Xxxxxxxx X and the Level 300 of Building C as shown on Exhibit I attached hereto (the “Additional Space”) becomes available, meaning that a lease therefor is expiring or being terminated, (the space that is the subject of such expiring or terminating lease being hereinafter referred to as a “First Offer Space”). If at any time from and after the Term Commencement Date, any of the Additional Space shall become available for occupancy, Landlord shall notify not lease or offer to lease the subject First Offer Space to any person or entity without first offering by written notice to Tenant thereof in writing (“Landlord’s Additional Space First Offer Notice”)) the right and option to add the subject First Offer Space to the Premises. Landlord’s First Offer Notice shall be given not sooner than twelve (12) months nor later than one (1) month prior to the then anticipated expiration or termination date of the then existing lease of the subject First Offer Space as specified in Landlord’s First Offer Notice, which notice shall include the anticipated estimated date upon which such Additional Space shall become be available for occupancy by Tenant, Tenant along with a floor plan showing the proposed term for the Additional Space and the economic terms upon which Landlord would be willing to lease the Additional Space to Tenantapproximate rentable square footage thereof. Tenant shall have the right option, to be exercised by written notice (the “Acceptance Notice”) to Landlord within fifteen (15) business days after Landlord’s First Offer Notice, to lease all of the subject First Offer Space. In the event that as of the applicable First Offer Space Commencement Date (as defined below) there will be less than three (3) years remaining in the Term of the Lease (as such Additional Space described may have already been extended in accordance with Section 3.03 below), then, at Landlord’s election, as set forth in Landlord in Landlord’s Additional Space Notice only by giving written notice to Landlord within ten (10) days after Tenant receives Landlord’s Additional Space First Offer Notice, time being the Term of the essence For Lease for the purposes hereofPremises including the First Offer Space shall, space shall to the extent Tenant elects to lease the subject First Offer Space, be deemed “available automatically extended for occupancy” when any lease or occupancy agreement (including extension periods) has expired or is due to expire within not less than six (6) months, or Landlord has elected not to renew or otherwise extend the lease an additional period of time commencing as of the present tenant, first day following the expiration of the Term of this Lease (as such may have already been extended in accordance with Section 3.03 below) and any prior options, rights or rights to lease with respect to such expiring on the thirty-sixth (36th) full calendar month following the First Offer Space Commencement Date (the “Additional Space have expired or been waived and Landlord is free to lease such space to third parties without restriction,Term”).

Appears in 1 contract

Samples: Letter (Concert Pharmaceuticals, Inc.)

RIGHT OF FIRST OFFER ON CERTAIN ADDITIONAL SPACE. 2.5.1 Provided (a) Provided this Lease is then in full force and effect and Tenant is not then in default hereunder (beyond any applicable notice and cure periods), in the event that during the Initial Term grace period under any of the Additional terms and conditions of this Lease at the time it elects to exercise its rights hereunder or, at Landlord’s option, at the time of the delivery of the applicable Available Space (as defined below); and (b) becomes available the Tenant originally named herein (meaning that no other tenant except in connection with a transfer pursuant to Section 5.3.3 below) continues to occupy and operate all or occupant is occupying the Additional Space, has entered into occupancy substantially all of the Additional Space or any portion thereof, or has executed a lease or occupancy agreement or a written commitment or letter of intent to lease or occupy same)Premises, Tenant shall have the one-time right of first offer to lease such Additional Space lease, in its entirety, any space on the first (1st) floor of the Building that becomes available for occupancy (the “Available Space”) from and after the initial occupancy thereof, subject to and in accordance with the terms and conditions set forth in this Section 2.022.5. The Additional Space shall be comprised At any time during the Term of this Lease, so long as at least twenty-four (24) months of the contiguous space Lease Term remain (which may include an executed Option Period), Tenant may give written notice to Landlord of its interest in the “A Building” shown on Exhibit I attached hereto (the “Additional Space”). If at any time from and after the Term Commencement Date, any of the Additional leasing Available Space shall become that becomes available for occupancyoccupancy subject to the terms hereof. Within fourteen (14) days after Tenant’s notice, Landlord shall notify respond to Tenant thereof in writing (“Landlord’s Additional Available Space Notice”)) with a statement as to what, which notice shall include if any, Available Space that is anticipated to become available for occupancy, the anticipated estimated date upon which such Additional Available Space shall become be available for occupancy by Tenant, along with a floor plan showing the proposed term for approximate rentable square footage thereof and Landlord’s designation of the Additional Space Fixed Rent and additional rent thereof and any other relevant economic terms and the economic terms upon method by which Landlord would Tenant’s share of Operating Expenses and Taxes are to be willing to lease the Additional Space to Tenantcalculated. Tenant shall have the right to lease all such Additional Space described in Landlord’s Additional Space Notice only by giving written notice to Landlord within ten (10) days after Tenant receives Landlord’s Additional Space Notice, time being of the essence For the purposes hereofAs used herein, space shall be deemed “available for occupancy” when any lease or occupancy agreement (including extension periods) of the Available Space has expired or is due to expire within not less than approximately six (6) months, or and/or Landlord has elected not to renew or otherwise extend the lease of the present tenant, and any prior options, rights or rights to lease with respect to such Additional Space have expired or been waived and Landlord is free to lease such space to third parties without restriction,lease

Appears in 1 contract

Samples: Disturbance and Attornment Agreement (Aware Inc /Ma/)

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RIGHT OF FIRST OFFER ON CERTAIN ADDITIONAL SPACE. 2.5.1. Provided (ai) Provided this Lease is then in full force and effect and effect, (ii) Tenant is not then in default hereunder (beyond any applicable notice and cure periods), in the event that during the Initial Term any of the Additional Space terms and conditions of this Lease, and (defined belowiii) becomes available (meaning that no other tenant the original named Tenant shall then occupy all or occupant is occupying the Additional Space, has entered into occupancy substantially all of the Additional Space or any portion thereof, or has executed a lease or occupancy agreement or a written commitment or letter of intent to lease or occupy same)Premises, Tenant shall have the one-time right of first offer to lease such Additional Space the entire second (2nd) floor of the Building (the "Available Space") (but not portions thereof), which Tenant acknowledges is currently available for occupancy as of date of this Lease and is being marketed by Landlord to potential tenants and which Tenant has elected not to lease at this time, subject to and in accordance with the terms and conditions set forth in this Section 2.02hereof. The Additional Space shall be comprised of the contiguous space in the “A Building” shown on Exhibit I attached hereto (the “Additional Space”). If at At any time from and after during the Term Commencement Date, any of this Lease that the Additional Available Space shall become is available for occupancy, Landlord shall notify Tenant thereof in writing (“Landlord’s Additional Space Notice”), which notice shall include the anticipated estimated date upon which such Additional Space shall become available for occupancy by Tenant, or its broker, may contact Landlord's managing agent or broker to obtain the proposed term for status of the Additional Available Space and the economic terms upon which current status of Landlord's marketing efforts in connection therewith and Landlord would shall use good faith efforts to keep Tenant apprised of the status of Landlord's marketing efforts with regard to the current Available Space; provided Landlord shall not be willing required to lease the Additional Space to Tenantdisclose confidential discussions or other non-public information relating thereto. Tenant shall have the right to lease all the Available Space, so long as such Additional Space described in Landlord’s Additional Space Notice only space is still available for occupancy, by giving written notice to Landlord of its desire to lease such space. Tenant acknowledges that time is of the essence in connection with this Section 2.5.1. If Tenant fails to timely or unequivocally notify Landlord of its desire to lease the Available Space, Landlord shall be free to lease the Available Space (or any portion thereof) without restriction, and Tenant, following such failure and within seven (7) days of Landlord's request therefor, shall execute and deliver to Landlord a certification, in recordable form, confirming the Tenant's failure to exercise (or waiver of) such right, and Tenant's failure to so execute and deliver such certification shall (without in any way limiting any of Landlord's remedies on account thereof) entitle Landlord to execute and deliver to any third party, and record, an affidavit confirming the waiver, which affidavit shall be binding on Tenant and may be conclusively relied on by third parties. If Tenant so elects to lease the Available Space, the Available Space shall be leased upon the same terms and conditions contained in this Lease, except the Fixed Rent for the Available Space shall be equal to the Fair Market Rent therefor determined in accordance with Section 3.2.2 below and the Letter of Credit Amount shall be increased proportionately to reflect the inclusion of the Available Space, and the Available Space shall be and become part of the Premises hereunder upon the delivery of the Available Space to Tenant. It is understood and agreed that the Available Space shall be leased by Tenant in its then "as is" condition, without warranty or representation by Landlord, and that Landlord shall have no obligation to complete any work to prepare the Available Space for Tenant's occupancy. To confirm the foregoing, Landlord shall prepare an Amendment to Lease reflecting the foregoing terms, which shall be signed by Tenant within ten (10) business days after Tenant receives Landlord’s Additional Space Notice, time being of the essence submission. For the purposes hereof, space the Available Space shall be deemed "available for occupancy” when " so long as such space or any portion thereof is not the subject of any lease or occupancy agreement (including extension periods) or letter of intent or proposal, or any such document has expired or is due to expire within not less than six (6) months, or Landlord has elected not to renew or otherwise extend the lease of the present tenant, and any prior options, rights or rights to lease with respect to such Additional the Available Space have expired or been waived and and/or Landlord is otherwise free to lease such space to third parties without restriction,. In no event, however, shall any actions or omissions made in good faith by Landlord or any of its agents or representatives in connection with providing any information on the Available Space give rise to any right to terminate this Lease or claim of any breach of Landlord hereunder or any claim for damages at law or equity including injunctive relief.

Appears in 1 contract

Samples: Lease Agreement (Soundbite Communications Inc)

RIGHT OF FIRST OFFER ON CERTAIN ADDITIONAL SPACE. i. Provided (ai) Provided this Lease is then in full force and effect and Tenant is not then in default hereunder (beyond any applicable notice and cure periods), in the event that during the Initial Term grace period under any of the Additional terms and conditions of this Lease at the time it elects to exercise its rights hereunder or, at Landlord’s option, at the time of the delivery of the Available Space (as defined below); and (ii) becomes available the Tenant originally named herein (meaning that no other tenant or occupant is occupying the Additional Space, has entered into occupancy a Permitted Transferee) continues to occupy and operate all or substantially all of the Additional Space or any portion thereof, or has executed a lease or occupancy agreement or a written commitment or letter of intent to lease or occupy same)Premises, Tenant shall have the one-time right of first offer to lease such Additional Space any space in the Building that becomes available for occupancy (the “Available Space”) subject to and in accordance with the terms and conditions set forth in this Section 2.02. The Additional Space shall be comprised of the contiguous space in the “A Building” shown on Exhibit I attached hereto (the “Additional Space”)2.5. If at any time from and after the Commencement Date and during the Term Commencement Date, of this Lease there shall be any of the Additional Space shall become available for occupancyAvailable Space, Landlord shall notify Tenant thereof in writing (“Landlord’s Additional Available Space Notice”), which notice shall include the anticipated estimated date upon which such Additional Available Space shall become be available for occupancy by Tenant, Tenant along with a floor plan showing the proposed term for the Additional Space and the economic terms upon which Landlord would be willing to lease the Additional Space to Tenantapproximate rentable square footage thereof. Tenant shall have the right to lease all such Additional Available Space described in Landlord’s Additional Space Notice only by giving written notice to Landlord within ten twenty (1020) business days after Tenant receives Landlord’s Additional Available Space Notice, time being of the essence essence. If Tenant so elects to lease the Available Space, such Space shall be leased upon the same terms and conditions contained in this Lease, except that the Fixed Rent for such space shall be equal to the Fair Market Rental Value therefor determined in accordance with Section 3.2 below and the Letter of Credit shall be increased proportionately to reflect the inclusion of such Available Space, and the Available Space shall be and become part of the Premises hereunder upon the delivery of such Available Space to Tenant. It is understood and agreed that the Available Space shall be leased by Tenant in its then “as is”, “where-is” condition, without warranty or representation by Landlord and Landlord shall have no obligation to complete any work to prepare the applicable Space for Tenant’s use and occupancy. Following such election by Tenant, and effective as of the delivery of the applicable Burlington Wxxxx — Color Kinetics Expansion Space Lease (BWOP2) Available Space and for the balance of the Term and any extension thereof: (a) the “Premises”, as used in this Lease, shall include the applicable Available Space; (b) the “Rentable Floor Area of the Premises” shall be increased to include the rentable square footage of the applicable Available Space; and (c) the annual Fixed Rent shall equal the sum of the Fixed Rent provided for in this Lease plus the Fixed Rent for the applicable Available Space as determined as set forth herein. To confirm the inclusion of the Available Space as set forth above, Landlord shall prepare, and Landlord and Tenant shall promptly execute and deliver, an Amendment to Lease reflecting the foregoing terms and incorporation of any Available Space. For the purposes hereof, space shall be deemed “available for occupancy” when any lease or occupancy agreement (including extension periods) has expired or is due to expire within not less than six (6) months, or Landlord has elected not to renew or otherwise extend the lease of the present tenant, and any prior options, rights or rights to lease with respect to such Additional Available Space have expired or been waived and Landlord is free to lease such space to third parties without restriction,.

Appears in 1 contract

Samples: Expansion Option Agreement (Color Kinetics Inc)

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