Refusal Space means all or any portion of available space in Tower One, or if tenant has fully leased the Building, then in Tower Two.
Refusal Space means any space contiguous to the Demised Premises in the Building and/or the twelfth (12th) floor and/or the thirteenth (13th) floor of the Building, not subject to either any renewal, extension, expansion or additional space option held by any third (3/rd/) party. Provided that this Lease continues in full force and effect, without default by Tenant after the expiration of all applicable grace, notice and/or cure periods. Tenant shall have, during the initial term and the Extension Term, an ongoing right of first refusal to lease the Refusal Space, as hereinafter provided. If Landlord receives, or is prepared to deliver for a third party Tenant's acceptance, a proposal acceptable to landlord, pursuant to the terms of which Landlord intends to lease the Refusal Space, Landlord shall communicate, in writing, the terms and conditions of such proposal to Tenant ("Landlord's Notice"), which Landlord's Notice shall set Fixed Rent and Additional Rent equal to the greater of (a) rent specified in the third party offer or (b) 95% of Tenant's then fully escalated rent, but in no event greater than the Fixed Rent as fully escalated. Tenant shall (i) have a period of five (5) business days after receipt of Landlord's Notice within which to exercise, by delivery of written notice thereof to Landlord, the Right of First Refusal to lease the Refusal Space on the identical terms and conditions set forth in Landlord's Notice without variance, and (ii) within an additional five (5) business days following Tenant's exercise of the right of first refusal, execute an appropriate amendment to this Lease in form and substance satisfactory to Landlord, Tenant and their respective counsel, reflecting the terms and conditions contained in Landlord's Notice. Tenant's failure to timely exercise the Right of First Refusal, or Tenant's failure to timely execute an appropriate amendment to this Lease, as required by the preceding sentence, shall release Landlord from any restriction on Landlord's entering into a lease on the terms and conditions set forth in the corresponding Landlord's Notice.
Refusal Space means any rentable space located in the Building that is currently available or becomes available for lease during the Term, and (ii) Refusal Space shall become “available for lease” when Landlord receives and intends to accept a written offer or term sheet (“Letter of Intent”) from a prospective tenant or its broker (as represented by a letter of intent, offer letter, term sheet or similar document) to lease all or a portion of the rentable space located on a particular floor of the Building, which is not made by such prospective tenant substantially in accordance with or under any lease expansion option, right of first offer, right of first refusal or other contractual right binding on Landlord with respect to all or any portion of such rentable space that exists on the Effective Date of this Lease (each a “Pre-existing Agreement”).
Examples of Refusal Space in a sentence
Pursuant to such First Refusal Notice, Landlord shall offer to lease to Tenant the applicable First Refusal Space.
If the Bona Fide Offer includes space in the Building in addition to the Refusal Space, then the Refusal Space shall be deemed to include, and this Refusal Option shall be deemed to apply to, all of the space included in the Bona Fide Offer.
The First Refusal Notice shall describe the First Refusal Space, and the lease term, rent and other fundamental economic terms and conditions upon which Landlord proposes to lease such First Refusal Space pursuant to the bona-fide third-party offer.
Prior to entering into any lease that includes all or any portion of the Refusal Space, Landlord shall notify Tenant in writing (“Landlord’s Notice”) of Landlord’s receipt of an arms-length offer to lease such space that Landlord is willing to accept from a bona fide third party offeror (“Bona Fide Offer”) and setting forth the material terms of the Bona Fide Offer and such other terms as are herein provided.
Tenant shall pay Base Rent and Additional Rent for the Refusal Space in accordance with the terms and conditions of the Advice.
More Definitions of Refusal Space
Refusal Space means approximately 5,989 square feet of vacant space known as Suite 2010 and shall be subject to any option or other right of first refusal previously given to any other tenant in the Building.
Refusal Space. MEANS ANY OFFICE SPACE ON FLOORS 1, 2, 3, 4 OR 5 OF THE BUILDING THAT ARE NOT PART OF THE PREMISES OR THE FIRST ADDITIONAL PREMISES AND FROM AND INCLUDING JUNE 2, 1998, SHALL INCLUDE FOR GREATER CERTAINTY THE SPECIAL REFUSAL SPACE.
Refusal Space as used herein shall mean the Headway Space and the Expansion Space (excluding any such space leased by Tenant, whether pursuant to Rider 2 or otherwise).
Refusal Space shall be and shall mean the Refusal Space or portion thereof set forth in the ROFR Terms Notice. If less than fifteen (15) months remain on the initial Term of the Lease as of the date that will be the commencement of the lease of the Refusal Space, then Tenant must also exercise the Extension Option set forth in Section 3 above.
Refusal Space means a contiguous full floor in the Building, as designated by Landlord (provided that Tenant’s rights with respect to such Refusal Space shall be subject and subordinate to the then-existing rights of other Building tenants as to such space, as well as Landlord’s right to renew any tenant then occupying such space), and (ii) the first sentence of Section 3 of such Rider shall be modified by replacing the phrase “the last day of the 66th Lease Month” with “October 1, 2021”.
Refusal Space means, with respect to an Offer, the following portions of space in the Building that the Offeror desires to lease from Landlord: (1) any space that is Eligible Refusal Space and (2) any floor in the Building that is contiguous either to the Eligible Refusal Space contained in such Offer or any Eligible Refusal Space which may then be a part of the Premises.
Refusal Space means all of the rentable area located on the third floor of the Building which is not part of the original Premises demised under this Lease, and which contains 7,500 square feet of rentable area.