First Offer Space definition

First Offer Space means any space in the Building during the Right of First Offer period. Notwithstanding the foregoing, the right to occupancy with respect to any such exercised Right of First Offer shall commence only following the expiration or earlier termination of any then existing lease pertaining to each such particular First Offer Space (each an “Existing Lease”), including any renewal of such Existing Lease, whether or not such renewal is pursuant to an express written provision in such lease and, regardless of whether any such renewal is consummated pursuant to a lease amendment or a new lease. Landlord shall provide written notice to Tenant (the “First Offer Notice”) from time to time when Landlord determines that Landlord shall commence the marketing of any First Offer Space because such space shall become available for lease to third parties. The First Offer Notice shall include the Base Rent upon which Landlord agrees to offer the First Offer Space to Tenant, which Base Rent shall be the then current market rate terms being offered by Landlord. Tenant shall have fifteen (15) business days following the date of Landlord’s delivery of the First Offer Notice to Tenant to exercise its Right of First Offer by providing Landlord with an irrevocable written notice (“Election Notice”) that Tenant elects to lease all of the First Offer Space described in the First Offer Notice on the same terms as set forth herein except for Base Rent for the First Offer Space which shall be as set forth in the First Offer Notice. Tenant shall not be permitted to lease less than all of the First Offer Space described in the First Offer Notice. In the event that Landlord does not receive Tenant’s Election Notice within the applicable time period set forth above, then Tenant shall be deemed to have declined to exercise its Right of First Offer with respect to the applicable First Offer Space and Landlord shall be flee to lease the space described in the Offer to any third party on such terms and conditions as Landlord may elect. In the event that Tenant does not give an Election Notice with respect to a particular First Offer Space by the expiration of the required time period therefor, and Landlord does not lease such First Offer Space within six (6) months thereafter, then Tenant may notify Landlord of its interest in additional space and Landlord shall provide another First Offer Notice to Tenant with respect to the applicable First Offer Space.

First Offer Space means any of the following spaces or any part thereof that Landlord from time to time determines is available for lease to a third party in accordance with and subject to the provisions of this Section 4: any space that is contiguous to any portion of the Premises as it may be expanded from time to time pursuant to the provisions hereunder.

First Offer Space means any space on the 5th floor of the Building that becomes available to sublease by Landlord during the First Offer Period and that Landlord intends to sublease to parties that are not Affiliates of Landlord.

Examples of First Offer Space in a sentence

• The terms of the leases covering the First Offer Space would probably not be identical with those of the RCA and NBC Leases.

• In the event Tenant exercises its right to the First Offer Space, Landlord and Tenant hereby agree to amend those provisions of this Lease which are necessarily affected by the increase in the rentable area and leaving all other provisions of this Lease in full force and effect without modification.

• If Landlord’s ROFO Notice is rejected under clause (i) above (or deemed rejected through the Tenant’s failure to timely respond), then Landlord may enter into a lease for the First Offer Space providing for an effective Annual Fixed Rent equal to or less than five percent (5%) less than that specified in Landlord’s ROFO Notice.

• Landlord shall notify Tenant of the terms on which Landlord intends to offer to lease the First Offer Space (“Landlord’s ROFO Notice”), provided that the term of the First Offer Space shall be co-terminus to the Initial Term, but in no case shall the term be less than three (3) years, and the Annual Fixed Rent shall be at the then current Fair Market Rent (as determined in Section 2.6) taking into account all relevant factors.

• If Landlord leases the First Offer Space or portion thereof to a third party and such space subsequently becomes available during the Term, the provisions of this Section shall apply to any determination by Landlord to release such space.

More Definitions of First Offer Space

First Offer Space shall have the meaning set forth in Section 9.1.

First Offer Space means all or any portions of the rentable area on: (i) floors 2 through 6; and (ii) E13 and the 18th floor of the Building that become available for lease (subject to Section 34.07 hereof) during the Term. Landlord represents that the leases covering the First Offer Space with their current expiration dates and any extension, renewal or expansion options are as set forth on Exhibit L.

First Offer Space as used in this Article 40 shall mean the entire rentable space on the second (2nd) or fourth (4th) floors of the Building if offered by Landlord to Tenant pursuant to the provisions of this Article 40, but any offered space on the second (2nd) or fourth (4th) floors of the Building which is less than the entire rental space on the second (2nd) floor of the Building shall not be deemed to be First Offer Space.

First Offer Space is defined as any space in the Building on any of the following floors in the Building not currently part of the Premises: 1 through 18 (except the space on the fourth (4th) floor of the Building that is subleased to Tenant under the 4th Floor Sublease), and 28 (and all conduits located in such spaces). For purposes hereof, the “28th Floor ROFO Space” is defined as the First Offer Space located on the 28t floor of the Building. Tenant’s right of first offer shall be on the terms and conditions set forth in this Article 21. Tenant’s right of first offer is personal to the original Tenant executing this Lease (“Original Tenant”) and any assignee to which Tenant’s entire interest in this Lease has been assigned pursuant to Article 13 above, and may not be assigned or exercised, voluntarily or involuntarily, by or to, any person or entity other than the Original Tenant (or such assignee, as the case may be).

First Offer Space means the entire thirty-fourth (34th) floor (as indicated on Exhibit F annexed hereto) in the Building.

First Offer Space means each full floor within Tower One, or if Tenant has fully leased Tower One, then each full floor of Tower Two.

First Offer Space shall have the meaning set forth in Section 37.01 hereof.