Available Second Generation Space definition

Available Second Generation Space means any space previously leased by Landlord to any third party in any new building(s) constructed by Landlord at the Project after the date hereof and not leased by Tenant. If there is any Available Second Generation Space available for lease or becoming available for lease to a third party (other than the tenant then leasing such space (whether or not such tenant has the right to renew) and/or any other party to whom Landlord has granted a right to lease such Available Second Generation Space), Landlord shall, at such time as Landlord shall elect, deliver to Tenant written notice (the “Offer Notice”) of such Available Second Generation Space, together with the terms and conditions on which Landlord is prepared to lease to Tenant such Available Second Generation Space. Tenant shall be entitled to exercise its right under this Section 39(f) only with respect to the entire Available Second Generation Space identified in the Offer Notice. If the applicable Available Second Generation Space being described in the applicable Offer Notice is 1 floor or less of any applicable building, Landlord may not require a base term for such space in the Offer Notice which is more than 10 years. If the applicable Available Second Generation Space being described in the applicable Offer Notice is more than 1 floor in any applicable building, there shall be no cap on the length of the base term which Landlord may require for such space in the Offer Notice. If Tenant delivers an Acceptance Notice but in good faith believes that the Base Rent and escalations being required by Landlord is above the market rate for such Available Second Generation Space, the Base Rent for such Available Second Generation Space shall be determined in the same manner as the Market Rate (as defined in Section 40) is determined pursuant to Section 40 but on an expedited basis to be agreed upon by Landlord and Tenant at the time Tenant delivers an Acceptance Notice but in all events the determination of the Base Rent for such Available Second Generation Space must be finalized, if at all, within 30 days after Tenant delivers the applicable Acceptance Notice. Tenant shall have 10 business days following delivery of the Offer Notice to deliver to Landlord written notification (“Acceptance Notice”) if Tenant elects to lease the Available Second Generation Expansion Space described in the Offer Notice. Tenant’s failure to deliver an Acceptance Notice to Landlord within the required 10 business day perio...
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Available Second Generation Space means the first space in excess of 10,000 rentable square feet in each multi-tenant building, if any, constructed by Landlord or an entity controlled by Alexandria Real Estate Equities, Inc. (“Landlord’s Affiliate”) on the land depicted on Exhibit H after the date of this Lease becoming available for lease which space was previously leased by Landlord to a third party in such new building; provided, however, in no event shall the Expansion Right apply to any building on the parcel designated as 4767 Nexus Centre Drive on Exhibit H. If Available Second Generation Space becomes available for lease or will become available for lease to a third party (other than the tenant then leasing such space (whether or not such tenant has the right to renew) and/or any other party to whom Landlord grants a right to lease such Available Second Generation Space) and Landlord intends to accept a Pending Deal with respect to such Available Second Generation Space, Landlord shall deliver to Tenant written notice (the “Pending Deal Notice”) of the existence of such Pending Deal. Tenant shall be entitled to exercise its right under this Section 39 only with respect to the entire Available Second Generation Space described in such Pending
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Examples of Available Second Generation Space in a sentence

  • If the applicable Available Second Generation Space being described in the applicable Offer Notice is more than 1 floor in any applicable building, there shall be no cap on the length of the base term which Landlord may require for such space in the Offer Notice.

  • If the applicable Available Second Generation Space being described in the applicable Offer Notice is 1 floor or less of any applicable building, Landlord may not require a base term for such space in the Offer Notice which is more than 10 years.

  • During the Term, Tenant shall have the right (the “SGS Expansion Right”) to elect to lease any Available Second Generation Space upon the terms and conditions set forth in this Section 39(f).

  • Tenant shall be entitled to exercise its right under this Section 39(f) only with respect to the entire Available Second Generation Space identified in the Offer Notice.

  • Notwithstanding anything to the contrary contained herein, in no event shall the TI Allowance, the Work Letter or the Termination Right apply to the Available Second Generation Space.

  • During the Term, Tenant shall have the right (the "SGS Expansion Right") to elect to lease any Available Second Generation Space upon the terms and conditions set forth in this Section 39(fl.

  • Notwithstanding anything to the contrary contained herein, this Section 39 shall terminate and have no further force and effect if either the Project and/or any building containing the Available Second Generation Space is owned by a party other than Landlord and/or a Landlord’s Affliate.

  • Within 5 business days after Tenant’s receipt of the Pending Deal Notice, Tenant shall deliver to Landlord written notice (the “Space Acceptance Notice”) if Tenant elects to lease the Available Second Generation Space.

  • As used herein, "Available Second Generation Space" shall mean any space previously leased by Landlord to any third party in any new building(s) constructed by Landlord at the Project after the date hereof and not leased by Tenant.

  • If Tenant elects to lease the Available Second Generation Space described in the Pending Deal Notice by delivering the Space Acceptance Notice within the required 5 business day period, Tenant shall be deemed to agree to lease the Available Second Generation Space on the same general terms and conditions as this Lease except that the terms of the Lease shall be modified to reflect the terms of the Pending Deal Notice for the rental of the Available Second Generation Space.