Offer Space definition

Offer Space means certain space on the same floor in the Building as the Premises, all as outlined on Exhibit "H", annexed. Subject to the terms and conditions set forth below, Tenant shall have a right of first offer to add the Offer Space to the Premises; provided, however, that (a) such right shall not be exercisable if this Lease is not then in full force and effect, or if Tenant is then in default in the performance of any of its obligations under this Lease, (b) said right shall not be severed from this Lease nor separately assigned, mortgaged or transferred, (c) said right may not be exercised if any other portion of the Premises is then subject to a sublease, (d) such right shall not be available at any time within twenty-four (24) months of the date of expiration of the Initial Term unless Tenant irrevocably exercises its option to extend the Term for the New Term, either prior to or concurrently with the exercise of its rights under this Section 14.26, and (e) such right shall not be available at any time within twenty-four (24) months of the date of expiration of the New Term. Subject to the foregoing qualifications, at any time when Landlord desires to offer the Offer Space for rental by third parties, Landlord shall notify Tenant (by "Landlord's Notice") of the Basic Rent which Landlord would be willing to accept for the rental of the Offer Space (including a statement as to the method of computing the Operating Expense Base and the Tax Base (collectively, the "Bases") for determination of operating Expense Excess and Tax Excess applicable to the offer Space) for a term equal to the remainder of the Term of this Lease, and assuming that Landlord will deliver possession of the Offer Space in a condition substantially similar to the condition of the Premises immediately following completion of Landlord's Work. Tenant shall have the right to accept Landlord's offer by notice to Landlord not later than 14 days following Tenant's receipt of Landlord's Notice. If Tenant shall accept Landlord's offer, then Landlord shall improve the Offer Space in a manner consistent with Landlord's initial improvements to the Premises, and, from and after the Delivery Date (i.e. the date on which Landlord's improvements are substantially completed and the Offer Space is delivered to

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Offer Space. As defined in Section 1.9(a)(v).

Offer Space means the leasable space consisting of approximately 15,[***] rentable square feet and referred to as [***]. The term "Available" shall mean that the space in question is either: (1) vacant and free and clear of the tenant in the Offer Space as of the Effective Date, [***] (the “Current Tenant”); or (2) space as to which Landlord has received a proposal, or Landlord is making a proposal, for a lease or rights of any nature applicable in the future when such space would be free and clear of the Current Tenant. The parties acknowledge and agree that Landlord shall be free at any time during the term of the lease with the Current Tenant to enter into an extension or renewal of the term for the Offer Space with the Current Tenant.

Examples of Offer Space in a sentence

Landlord shall notify Tenant (the “First Offer Notice”) from time to time when Landlord determines, in Landlord’s sole and absolute (but good faith) discretion, that Landlord shall commence the marketing of the First Offer Space (or any portion thereof) because such space shall become or is expected to become available for lease to third parties, subject, however, to the ROFO Superior Rights (if any).
Except as provided in the Final Offer Economic Terms, Tenant shall commence payment of rent for the First Offer Space and the Lease Term of the First Offer Space shall commence upon the date of delivery of such space to Tenant.
The First Offer Notice shall describe the space so offered to Tenant and shall set forth the Base Rent and all of Landlord’s proposed economic terms and conditions applicable to Tenant’s lease of such space (collectively, the “First Offer Economic Terms”); such First Offer Economic Terms shall be based on Landlord’s good faith determination of the fair market rate for such First Offer Space.
The Lease Term for the First Offer Space shall be as provided in the First Offer Notice as part of the First Offer Economic Terms.
In addition, at Landlord’s option and in addition to Landlord’s other remedies set forth in the Lease, at law and/or in equity, Tenant shall not have the right to lease the First Offer Space as provided in this Section 10 if, as of the date of the First Offer Notice, or, at Landlord’s option, as of the scheduled date of delivery of such First Offer Space to Tenant, Tenant is in default under the Lease beyond the expiration of all applicable notice and cure periods.

More Definitions of Offer Space

Offer Space means the entirety of the 26th floor of the Building which becomes Available and is not part of the Premises.

Offer Space means any space that becomes available on floor 12 of the Building.

Offer Space means space on the first floor of the Building. Landlord shall from time to time give Tenant a written notice (the “Availability Notice”) identifying the particular Offer Space (the “Specific Offer Space”) that is Available (as defined below) or that Landlord believes will become Available within ninety (90) days. As used herein, “Available” means that the space (i) is not part of the Premises, and (ii) is not then subject to a lease; provided, however, Landlord’s obligations shall not apply if the current tenant thereof has an option to extend that it wishes to (or has the right to) exercise.

Offer Space means collectively and individually (a) approximately 11,311 contiguous rentable feet of space on the seventh (7th) floor of the Unit known as Suite 7B, (b) approximately 10,279 contiguous rentable feet of space on the seventh (7th) floor of the Unit known as Suite 7C, and (c) approximately 17,427 contiguous rentable feet of space on the seventh (7th) floor of the Unit known as Suite 7D.

Offer Space means space on the first floor of the Building that is contiguous to the Premises. Landlord may from time to time give Tenant a written notice (the “Availability Notice”) identifying the particular Offer Space (the “Specific Offer Space”) that is Available (as defined below). As used herein, “Available” means that the space (i) is not part of the Premises, (ii) is not then subject to a lease, (iii) is not then subject to any rights of tenant to renew their lease or expand their premises as set forth in their lease, and (iv) is not then subject to any negotiations between Landlord and a prospective tenant or an existing tenant.

Offer Space means the unleased space in the Project held for lease by Landlord. For the period starting June 1, 2001 and ending on March 31, 2004 (the "Offer Period"), Tenant will have the right to lease the Offer Space on the following terms and conditions:

Offer Space means space in the Building that is contiguous to any part of the Premises. Landlord shall from time to time give Tenant a written notice (the “Availability Notice”) identifying the particular Offer Space (the “Specific Offer Space”) that becomes Available (as defined below). As used herein, “Available” means that the space (i) is not part of the Premises, (ii) is not then subject to a lease, (iii) is not then subject to any rights of any tenants existing on the date of the First Amendment to this Lease to renew their lease or expand their premises as set forth in their lease, and (iv) is not then subject to any negotiations between Landlord and an existing tenant of that space.