ROFO Space Sample Clauses

A ROFO (Right of First Offer) Space clause grants a tenant the first opportunity to lease additional space in a property before the landlord offers it to third parties. When the specified space becomes available, the landlord must notify the tenant, who then has a set period to negotiate terms or accept the offer. This clause ensures the tenant has priority in expanding their premises, helping them secure future growth options and reducing the risk of losing desirable space to competitors.
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ROFO Space. For purposes of this Section 22, the entire rentable portion of the first (1st) floor and/or the entire second (2nd) floor of the Building shall constitute “ROFO Space.” Such ROFO Space shall be deemed “available for sublease” when Sublandlord elects to market such ROFO Space for sublease, assignment or other transfer. For the avoidance of doubt: (i) ROFO Space may not consist of only a portion of the second (2nd) floor; and (ii) ROFO Space may not consist of the Shared Amenities Space unless Sublandlord’s Offer Notice designates all rentable area of the Building not already subleased by Subtenant as ROFO Space (in which case, the Shared Amenities Space shall be included as ROFO Space).
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ROFO Space. For purposes of this Lease, the "ROFO Space" shall ---------- mean the entire sixth floor and seventh floor of the Building and, if Landlord develops and constructs an office building in the Complex adjacent to the Building (the "Phase II Building"), two contiguous full floors in such building (such floors to be designated by Landlord promptly after completion of the Phase II Building). Tenant acknowledges that Landlord shall have no liability and Tenant shall be entitled to no credit or abatement if Landlord does not develop and construct the Phase II Building. If the Phase II Building is a build-to-suit for a single tenant, no space in that building shall be included in the ROFO Space. Furthermore, the ROFO Space shall include space in the Phase II Building only during the period that Landlord owns both the Building and the Phase II Building.
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ROFO Space. The space in the Building contiguous to the Premises, consisting of approximately 20,073 rentable square feet (the “ROFO Space”) is on the date of this Lease not leased to other tenants. If Landlord intends to lease the ROFO Space to a tenant during the initial twenty-eight (28) months of the Term, and provided that (i) Landlord has not given Tenant notice of default more than two (2) times within the immediately preceding twelve (12) month period, (ii) there then exists no event of default by Tenant under this Lease nor any event that with the giving of notice and/or the passage of time would constitute a default, and (iii) that Tenant is the sole occupant of the Premises, then Tenant shall have a one-time right of first offer (“ROFO Option”) to lease the ROFO Space, in the following manner: (a) Landlord shall notify Tenant when it intends to lease the ROFO Space to a prospective tenant and Tenant shall have seven (7) days following receipt of such notice within which to notify Landlord in writing that Tenant is interested in negotiating terms for leasing such ROFO Space and to have its offer considered by Landlord prior to the leasing by Landlord of the ROFO Space to a third party. If Tenant notifies Landlord within such time period that Tenant is so interested, then Landlord shall notify Tenant in writing of Landlord’s calculation of rent and other terms proposed to be applicable to the ROFO Space, for a term coterminous with the Term of this Lease, which shall be equivalent to fair market rental value as determined by Landlord in its sole discretion, which Landlord proposes to be applicable to the ROFO Space, which shall either be on an “as is” basis or with a retrofit allowance, as Landlord shall determine (“Landlord’s Notice of ROFO Terms”). d shall include with Landlord’s Notice of ROFO Terms data in support of Landlord’s calculation of fair market rental value. Within fifteen (15) days following Tenant’s receipt of Landlord’s Notice of ROFO Terms, Tenant shall notify Landlord in writing (the “Tenant ROFO Response”) that Tenant either (1) accepts Landlord’s calculation of rent and terms for the ROFO Space, or (2) withdraws its notice of interest in leasing the ROFO Space and waives its right to lease the ROFO Space under this Lease. If Tenant fails to issue the Tenant ROFO Response within the time and in the manner set forth herein, Tenant will be deemed to have withdrawn its notice of interest in leasing the ROFO Space and waived its right to lease...
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ROFO Space. Section 30 of the Lease is hereby deleted in its entirety. Effective on and after the date of this Amendment, Tenant shall have no ROFO Option or any other like option unless expressly set forth herein.
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ROFO Space. For clarity's sake, the parties agree that Exhibit A attached hereto depicts the space subject to ▇▇▇▇▇▇'s Right of First Offer as set forth in Section 1(E) of the Fourth Amendment.
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ROFO Space. 35 ---------- B. Right of First Opportunity..................................... 35 -------------------------- C. Terms.......................................................... 36 ----- D. Amendment...................................................... 37 --------- E. Termination.................................................... 37 -----------
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ROFO Space. Tenant shall have a right of first offer (“Right of First Offer”) with respect to that certain approximately 56,909 rentable square feet as depicted on Exhibit M attached hereto (the “ROFO Space”), which ROFO Space is currently leased to an existing tenant (and/or its assignees) (“Existing ROFO Space Tenant”), pursuant to the terms and conditions of this Section 40. Within a reasonable period after Landlord determines that the Existing ROFO Space Tenant’s lease will expire or terminate with respect to all or a portion of the ROFO Space, Landlord shall offer to Tenant the right to include the ROFO Space within the Premises on the same terms and conditions upon which Landlord intends to offer the ROFO Space for lease; provided, however, in no event may Landlord require a base term for the ROFO Space of greater than 10 years. Such offer shall be made by Landlord to Tenant in a written notice (hereinafter called the “First Offer Notice”) which offer shall identify the portion of the ROFO Space being offered (the “Identified ROFO Space”) and designate the terms which Landlord intends to offer with respect to the ROFO Space.
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Related to ROFO Space

  • Expansion Space As used in this paragraph, the term “Expansion Space” means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.

  • Expansion Premises In addition to the Original Premises, commencing on the Expansion Premises Commencement Date (as defined below), Landlord leases to Tenant, and Tenant leases from Landlord, the Expansion Premises.

  • Additional Space Commencing on May 1, 2001, Sublessor herein grants unto the Sublessee a Right of First Refusal on any space that shall be and/or becomes available in the building during the remaining Term of this Sublease. Prior to May 1, 2001 and thereafter prior to the first day of May of any calendar year during the remaining Term hereof, Sublessor shall notify Sublessee by written notice of the availability of any such space in the building. Should Sublessee desire to exercise its Right of First Refusal and sublease such available space, Sublessee must notify Sublessor in writing of its desire to sublease the available space within seven (7) calendar days of Sublessee's receipt of Landlord's notice of availability. Within thirty (30) days of the receipt of Sublessee's notice exercising the right to sublease such available space, Sublessee and Sublessor shall enter into an amendment of this agreement setting forth the terms under which the additional space is subleased to Sublessee. The Base Rental shall be at a rental mutually agreed between Sublessee and Sublessor. Failure by Sublessee to exercise its Right of First Refusal within said seven (7) calendar day period, or if exercised, failure to enter into an amendment of this agreement within thirty (30) days of Sublessor's receipt of Sublessee's notice, shall be deemed a waiver of such right and Sublessor shall thereafter be free of any obligation under this Article 2.04 for a period of 12 months. Any exercise by Sublessee of this Right of First Refusal shall be for a minimum of 5,000 rental square feet.

  • Vacating Premises (i) If the Assuming Bank elects not to purchase any owned Bank Premises, the notice of such election in accordance with Section 4.6(a) shall specify the date upon which the Assuming Bank's occupancy of such premises shall terminate, which date shall not be later than ninety (90) days after the date of the Assuming Bank's notice not to exercise such option. The Assuming Bank promptly shall relinquish and release to the Receiver such premises and the Furniture and Equipment and Fixtures located thereon in the same condition as at Bank Closing, normal wear and tear excepted. By occupying any such premises after the expiration of such ninety (90)-day period, the Assuming Bank shall, at the Receiver's option, (x) be deemed to have agreed to purchase such Bank Premises, and to assume all leases, obligations and liabilities with respect to leased Furniture and Equipment and leased Fixtures located thereon and any ground lease with respect to the land on which such premises are located, and (y) be required to purchase all Furniture and Equipment and Fixtures owned by the Failed Bank and located on such premises as of Bank Closing. (ii) If the Assuming Bank elects not to accept an assignment of the lease or sublease any leased Bank Premises, the notice of such election in accordance with Section 4.6(b) shall specify the date upon which the Assuming Bank's occupancy of such leased Bank Premises shall terminate, which date shall not be later than the date which is one hundred eighty (180) days after Bank Closing. Upon vacating such premises, the Assuming Bank shall relinquish and release to the Receiver such premises and the Fixtures and the Furniture and Equipment located thereon in the same condition as at Bank Closing, normal wear and tear excepted. By failing to provide notice of its intention to vacate such premises prior to the expiration of the option period specified in Section 4.6(b), or by occupying such premises after the one hundred eighty (180)- day period specified above in this paragraph (ii), the Assuming Bank shall, at the Receiver's option, (x) be deemed to have assumed all leases, obligations and liabilities with respect to such premises (including any ground lease with respect to the land on which premises are located), and leased Furniture and Equipment and leased Fixtures located thereon in accordance with this Section 4.6 (unless the Receiver previously repudiated any such lease), and (y) be required to purchase all Furniture and Equipment and Fixtures owned by the Failed Bank at Fair Market Value and located on such premises as of Bank Closing.

  • Adjacent Premises If the Premises are part of a larger building, or of a group of buildings owned by Lessor which are adjacent to the Premises, the Lessee shall pay for any increase in the premiums for the property insurance of such building or buildings if said increase is caused by Lessee's acts, omissions, use or occupancy of the Premises.