Common use of ROFO Election Clause in Contracts

ROFO Election. Tenant shall have ten (10) Business Days following Tenant’s receipt of the ROFO Notice to deliver to Landlord a written notice (the “ROFO Election”) of Tenant’s desire to lease from Landlord the ROFO Space by stating that Tenant is thereby exercising the ROFO. Notwithstanding anything to the contrary contained in the ROFO Notice, Tenant shall not be required to lease any number of rentable square feet in excess of the number of rentable square feet contained in the applicable ROFO Space. If Tenant exercises the ROFO no later than July 1, 2012, then Landlord shall lease the ROFO Space to Tenant for the remainder of the Term and the Renewal Terms, if exercised, at the same per square foot rental rate set forth in Article 4. 1. If Tenant exercises the ROFO after July 1, 2012, then Landlord shall lease the ROFO Space to Tenant for the remainder of the Term and the Renewal Terms on the terms set forth in the ROFO Notice which shall be the terms Landlord is prepared to offer the ROFO Space to a party other than Tenant. There shall be no leasing commissions in connection with such lease.