Example ContractsClausesavailability of facilityVariants
Availability of Facility
Availability of Facility contract clause examples

Availability Notice. As soon as practicable prior to the date that any ROFO Space is scheduled to become or is reasonably anticipated by Landlord to become vacant and available, Landlord shall notify Tenant in writing (the “Availability Notice”) of the availability of the ROFO Space in question (such ROFO Space being referred to herein as the “Available ROFO Space”), and shall further set forth in such Availability Notice the Landlord’s proposed determination of the Prevailing Market Rent for the Available ROFO Space and any concessions not already set forth in this Lease, and the location, size, and expected delivery date of the Available ROFO Space. The Available ROFO Space shall be available for lease by Tenant upon all of the terms and conditions set forth in this Lease, except that the Base Rent therefor shall be 100% of the Prevailing Market Rate for such Available ROFO Space as mutually agreed by the parties or determined pursuant to the Baseball Arbitration Method. In no event shall Tenant be required to lease other space from Landlord as a condition to its exercise of the ROFO. The ROFO shall not be applicable to any portion of the ROFO Space which does not become available for Lease during the ROFO Period.

Miscellaneous. Any lease of Available ROFO Space entered into pursuant to the terms of this Article XXIX shall be effective upon the date of Tenant’s delivery of the Acceptance Notice therefor, provided, however, the commencement date shall be the date that Landlord delivers possession of the Available ROFO Space to Tenant in its then as-is condition, vacant, broom clean and free of all Hazardous Materials that are in violation of applicable Environmental Laws, and the obligation to pay Rent for such ROFO Space shall commence upon the date determined pursuant to the provisions of Landlord’s Availability Notice (which, among all other relevant factors, shall be accounted for in the determination of the Prevailing Market Rent for such ROFO Space), unless otherwise agreed to by the parties as set forth in the amendment referenced above. During the period that any Landlord’s Availability Notice is outstanding, Landlord may proceed with negotiations with prospective tenants other than Tenant with respect to any or all of the Available ROFO Space in question, provided that Landlord may only enter into leases with respect to any such Available ROFO Space after complying with all of the terms and conditions regarding the ROFO, as set forth in this Article XXIX and Tenant’s failure to properly exercise its right to lease the Available ROFO Space. Tenant may only elect to lease Available ROFO Space hereunder in whole but not in part.

Notice; Exercise. Following receipt of an Availability Notice, Tenant shall give to Landlord binding written notice of Tenant’s exercise of its option to so lease the Available ROFO Space within fifteen (15) business days after the Tenant’s receipt of the Availability Notice (an “Acceptance Notice”). The parties shall work in good faith to agree on the Prevailing Market Rent for thirty (30) days after Tenant’s exercise of its option hereunder, failing which the parties shall proceed to the Baseball Arbitration Method to determine the Prevailing Market Rent (as defined in [Section 27.2]) for the Available ROFO Space in accordance with the same terms and procedure set forth in [Section 27.2] with respect to the determination of the Prevailing Market Rent for the Extension Period. If Tenant shall fail to exercise its option to lease the Available ROFO Space within said fifteen (15) business days after the date on which Landlord’s Offer is so given by Landlord, then Landlord shall be free to offer to lease and to lease such Available ROFO Space to others and Tenant’s right to lease the offered Available ROFO Space shall be void and of no force or effect, provided that, notwithstanding the foregoing, if # the Available ROFO Space is not leased to a third party by the date that is six (6) months after the date on which Tenant failed to exercise its ROFO with respect to such Available ROFO Space (unless Landlord is then actively negotiating with a third party for the lease of such Available ROFO Space, in which event such six-month period shall be extended during the pendency of such negotiations, or # Landlord elects to change the size or configuration of the Available ROFO Space, then, in either case, Landlord shall provide Tenant with another Availability Notice and an opportunity to lease such Available ROFO Space (or multiple Available ROFO Spaces, as the case may be) pursuant to this Article XXIX.

Lease Amendment. Following the later to occur of # the date on which Landlord and Tenant agree upon the Prevailing Market Rent for the Available ROFO Space, or # the date on which the Prevailing Market Rent for the Available ROFO Space is otherwise determined by the Baseball Arbitration Method, Landlord shall prepare and deliver to Tenant an amendment to this Lease and Landlord and Tenant shall reasonably cooperate to execute an amendment to this Lease setting forth the terms as to the applicable Available ROFO Space within thirty (30) days following Landlord’s delivery of such amendment, provided, however, the failure of Landlord and Tenant to execute such amendment shall not otherwise impact or negate Tenant’s lease of the Available ROFO Space upon the terms and conditions determined in accordance with this Article XXIX, which shall be binding on Landlord and Tenant.

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