Example ContractsClausesRight to Expand.
Right to Expand.
Right to Expand. contract clause examples

Right of First Refusal. Subject to the terms of this [Section 39(a)], after the date of this Lease and through the Base Term, each time that Landlord intends to accept a bona fide written proposal (the “Pending Deal”) to lease all or a portion the ROFR Space (as hereinafter defined) to a third party, Landlord shall deliver to Tenant written notice (the “Pending Deal Notice”) of the existence of such Pending Deal and the material terms of such Pending Deal (but not the identity of the third party subject to the Pending Deal). For purposes of this [Section 39(a)], “ROFR Space” shall mean all leasable space located fourth floor of the Building, which is not occupied by a tenant or which is occupied by an existing tenant whose lease is expiring within 6 months or less and such tenant does not wish to renew (whether or not such tenant has a right to renew) its occupancy of such space. For the avoidance of doubt, Tenant shall be required to exercise its right under this [Section 39(a)] with respect to all of the space described in the Pending Deal Notice, including, at Landlord’s option, any space in addition to the ROFR Space that is described in the Pending Deal Notice, which additional space shall be deemed to be included as part of the ROFR Space (the “Identified Space”). Within 5 business days after Tenant’s receipt of the Pending Deal Notice, Tenant shall deliver to Landlord written notice (the “Acceptance Notice”) if Tenant elects to lease the Identified Space. Tenant’s right to receive the Pending Deal Notice and election to lease or not lease the Identified Space pursuant to this [Section 39(a)] is hereinafter referred to as the “Right of First Refusal.” If Tenant elects to lease the Identified Space described in the Pending Deal Notice by delivering the Space Acceptance Notice within the required 5 business day period, Tenant shall be deemed to agree to expand the Premises to include the Identified Space and to lease the Identified Space on the same general terms and conditions as this Lease except that the terms of this Lease shall be modified to reflect the terms of the Pending Deal Notice for the rental of the Identified Space (including, without limitation, any tenant improvement allowances or other provision for construction of tenant improvements included as part of the Pending Deal). Tenant acknowledges that the term of this Lease with respect to the Identified Space and the Term of this Lease with respect to the existing Premises may not be co-terminous. Notwithstanding anything to the contrary contained herein, in no event shall the Work Letter apply to the Identified Space. If Tenant fails to deliver a Space Acceptance Notice to Landlord within the required 5 business day period, Tenant shall have deemed to have waived its rights under this [Section 39(a)] with respect to the Identified Space pursuant to the Pending Deal Notice in question and Landlord shall have the right to lease the Identified Space to the third party subject to the Pending Deal (or an affiliate of such third party) (each, a “Pending Deal Party”) on substantially the same business terms and conditions set forth in the Pending Deal Notice. Notwithstanding anything to the contrary contained herein, if Landlord fails to execute a lease for the Identified Space with a Pending Deal Party on substantially the same economic terms as reflected in the Pending Deal Notice within 6 months after the above-referenced 5 business day period, Tenant’s Right of Refusal shall be restored with respect to the next Pending Deal with respect to such Identified Space. Notwithstanding anything to the contrary contained herein, Tenant’s rights under this [Section 39(a)] shall terminate and be of no further force or effect after the date that is 12 months prior to the expiration of the Base Term if Tenant has not exercised its Extension Right (as defined in [Section 40] below) pursuant to the terms of [Section 40].

Right of First Refusal. Subject to the terms of this [Section 39(a)], the first time after the mutual execution and delivery of this Lease by the parties through the date that is 12 months after the Rent Commencement Date (the “ROFR Expiration Date”) that Landlord intends to accept a bona fide written proposal (the “Pending Deal”) to lease all or a portion the ROFR Space (as hereinafter defined) to a third party, Landlord shall deliver to Tenant written notice (the “Pending Deal Notice”) of the existence of such Pending Deal and the material terms of such Pending Deal. For purposes of this [Section 39(a)], “ROFR Space” shall mean all leasable space located on the fourth floor of the Building. For the avoidance of doubt, Tenant shall be required to exercise its right under this [Section 39(a)] with respect to all of the space Net Multi-Tenant Laboratory825 Industrial/[[Tenant:Organization]] - Page 30

Election to Expand. If Tenant properly elects to lease the Offered Space, then the parties shall enter into an amendment of Lease to include such Offered Space as part of the Premises on the terms set forth in the Offer Notice within fifteen (15) Business Days after Landlord’s receipt of Tenant’s Notice; however, the failure of the parties to execute such amendment within said time period shall not relieve the parties of their obligation to lease the Offered Space on the terms set forth in the Offer Notice.

Right to Exercise. This Option is exercisable during its term in accordance with the vesting schedule set forth in the Notice of Grant and the applicable provisions of the Plan and this Agreement. In the event of your death, Disability, or other cessation of Service, the exercisability of the Option is governed by the applicable provisions of the Plan, the Notice of Grant and this Agreement. This Option may not be exercised for a fraction of a Share.

Right to Expand. Section 9 of the Fifth Amendment is hereby deleted in its entirety and replaced with the following:

“9. Right to Expand.

not wish to renew (whether or not such tenant has a right to renew) its occupancy of such space. If all or a portion of the Expansion Space becomes available, Landlord shall, at such time as Landlord shall elect so long as Tenant’s rights hereunder are preserved, deliver to Tenant written notice (the “Expansion Notice”) of the availability of such Expansion Space, together with the terms and conditions on which Landlord is prepared to lease Tenant such Expansion Space. For the avoidance of doubt, Tenant shall be required to exercise its right under this Section 39(a) with respect to all of the space described in the Expansion Notice (“Identified Expansion Space”). For the avoidance of any doubt, Tenant shall continue to be entitled to an Expansion Notice pursuant to this Section 39(a) with respect to any portion of the Expansion Space which has not previously been identified in an Expansion Notice as Identified Expansion Space (for example, if Landlord delivers an Expansion Notice identifying Suite 200 and 205 as the Identified Expansion Space, Tenant shall continue to be entitled to an Expansion Notice with respect to Suite 210 and Suite 215). The term of this Lease with respect to the Identified Expansion Space may not be co-terminous with the Term of this Lease with respect to the then-existing Premises. Tenant shall have 5 business days following receipt of the Expansion Notice to deliver to Landlord written notification of Tenant’s exercise of the Expansion Right (“Exercise Notice”) with respect to the Identified Expansion Space. If Tenant does not deliver an Exercise Notice to Landlord within such 5 business day period, then Tenant shall be deemed to have waived its rights under this Section 39(a) to lease the Identified Expansion Space, and Landlord shall have the right to lease the Identified Expansion Space to any third party on any terms and conditions acceptable to Landlord.

Amendment to [Section 40] (Right to Expand in the Building or Project). [Section 40] of the Lease is hereby amended by deleting that Section in its entirety and replacing it with the following new [Section 40]:

Right of First Offer. Commencing upon the execution of this Lease, Landlord shall, the first time prior to offering all or any portion of the remaining space in Building 100 (any such space, the “ROFO Space”) for lease, first offer to lease the ROFO Space to Tenant and such offer shall be # in writing and delivered to Tenant (such offer being a “ROFO Notice”) and # for a term of a reasonable length and be on then current market rental terms for such term, all as reasonably determined by Landlord based on the use for which the space is being offered. Tenant shall notify Landlord in writing (“Exercise Notice”) whether Tenant elects to lease all or any portion of the ROFO Space on the terms set forth in the applicable ROFO Notice within 10 business days after the receipt by Tenant of the ROFO Notice. Tenant’s right to elect to lease only a portion of the ROFO Space offered to Tenant is expressly subject to such portion of the ROFO Space being acceptable to Landlord in its good faith sole discretion (i.e., if Tenant elects to lease only a portion of the ROFO Space, the balance of the space that was offered but rejected would still be reasonably leasable by Landlord on the same market terms).

Expansion into 200 Talcott. Tenant shall have the right, but not the obligation, to expand the Premises (the “Expansion Right”) to include any Available Space upon the terms and conditions in this Section. For purposes of this Section 39(a), “Available Space” shall mean any space in the building located at 200 Talcott Avenue (also known as Building 37), [[Address A:Address]] (“200 Talcott”), which is not occupied by a tenant (but if such space is not occupied by a tenant as of the Commencement Date, then only after initial lease-up of such space during the first 24 months after the Commencement Date) or which is occupied by an existing tenant whose lease is expiring within 6 months or less and such tenant does not wish to renew (whether or not such tenant has a right to renew) its occupancy of such space. If there is any Available Space in 200 Talcott, Landlord shall, at such time as Landlord shall elect so long as Tenant’s rights hereunder are preserved, deliver to Tenant written notice (the “Expansion Notice”) of such Available Space, together with the terms and conditions on which Landlord is prepared to lease Tenant such Available Space. Tenant shall have 15 business days following delivery of the Expansion Notice to deliver to Landlord written notification of Tenant’s exercise of the Expansion Right, in which event Tenant shall be entitled to lease such Available Space upon the terms and conditions set forth in the Expansion Notice, except that (even if different than the terms of the Expansion Notice), the term for the Available Space shall be coterminous with the Term of this Lease so long as # the Available Space contains at least 20,000 square feet and # there are at least 60 months remaining in the Base Term of this Lease at the time of Tenant’s delivery of the exercise notice (Tenant having the right to exercise its Extension Rights earlier than otherwise permitted, as the time it gives such Expansion Notice, in order to achieve such 60 months, but the rental rate during the extension term will still be determined within the timeframes set forth in Section 40 even though the extension exercise was early). If the first tenant to lease space at 200 Talcott in connection with the initial lease-up of 200 Talcott leases less than 75% of the total rentable space in 200 Talcott (after first deducting any space referenced in Section 39(e)), then any expansion rights granted to such tenant shall be subordinate to the Expansion Right. The renewal or extension (whether or not through a renewal right contained in the lease) of each lease constituting the initial lease for all or a portion of 200 Talcott shall be prior to the Expansion Right.

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