ROFR Exercised Clause Samples

ROFR Exercised. In First 2 Years. In the event that Tenant elects to exercise its ROFR Option for any portion of the ROFR Premises within two (2) years after the Effective Date of this First Amendment, then Tenant shall accept the ROFR Premises in its “as is condition”, and the portion so taken shall be leased to Tenant on the same terms as set forth in this First Amendment with respect to the Expansion Space, including, without limitation, (A) the Fixed Basic Rent per rentable square foot; (B) rent abatement, except that the rent abatement period shall be proportionally adjusted to the portion of the Term then remaining; (C) the Expiration Date of the Term, (D) a pro-rata increase in the number of parking spaces calculated by dividing the then-remaining available spaces in the parking garage serving the Office Unit by the total rentable square footage of the Office Unit not then subject to a lease agreement, with such quotient then multiplied by the square footage of the ROFR Premises then taken, and (E) the tenant improvement allowance (i.e., $60 per rentable square foot of the ROFR Premises, except that such tenant improvement allowance shall be proportionally adjusted to the portion of the Term then remaining), and (F) the term “Tenant’s Percentage” shall be adjusted based upon the square footage of the ROFR Premises. Tenant shall commence payment of Rent, and the Term with respect to the ROFR Premises shall commence on the date that is not later than the date which is ninety (90) days after the date the ROFR Premises is delivered to Tenant.