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
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
Pursuant to such First Offer Notice, Landlord shall offer to lease to Tenant the then available First Offer Space.
The construction of improvements in the First Offer Space shall comply with the terms of Article 8 of this Lease.
The right of first offer granted herein shall terminate as to particular First Offer Space upon the failure by Tenant to exercise its right of first offer with respect to such First Offer Space as offered by Landlord.
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.
Pursuant to such First Offer Notice, Landlord shall offer to lease to Tenant the First Offer Space.
More Definitions of Offer Space
Offer Space as used in this Section 45.01 means all of the Demised Premises and all of the PR Newswire Space. Landlord and Tenant confirm that the Offer Space is conclusively deemed to contain 41,178 rentable square feet.
Offer Space as used in this Section 45.02 means the PR Newswire Space.
Offer Space means the leaseable space consisting of 15,021 rentable square feet and known as ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ of the Building. The term “Available” shall mean that the space in question is either: (1) vacant and free and clear of all “Prior Rights” (defined below); 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 all Prior Rights. The term “Prior Rights” shall mean renewal rights of Ivy Sports Medicine, LLC pursuant to a lease or written agreement which was entered into on or before the beginning of the Offer Period.
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.
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 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 the leasable space on floors 18 through 30 of the Building. The term “Available” shall mean that the space in question is either: (1) vacant and free and clear of all “Prior Rights” (defined below); 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 all Prior Rights. The term “Prior Rights” shall mean rights of other parties, including without limitation, a lease, lease option, or option or other right of extension, renewal, expansion, refusal, negotiation or other right, either: (i) pursuant to any lease or written agreement which is entered into on or before the date this Lease is fully executed and delivered; or (ii) pursuant to any extensions or renewals of any of the foregoing or pursuant to any extensions or renewals of any lease entered into with respect to the Offer Space after the date this Lease is fully executed and delivered (except that, only with respect to extensions or renewals of any lease entered into with respect to the Offer Space after the date this Lease is fully executed and delivered, any expansion of the premises leased thereunder shall not be deemed a Prior Right), whether or not set forth in such lease or written agreement, and Landlord shall be free at any time to enter into such extension or renewal; or (iii) pursuant to any amendment or modification of any of the foregoing, and Landlord shall be free at any time to enter into such amendment or modification. In no event, however, shall the Offer Right apply to any space that consists of less than 10,000 contiguous rentable square feet.