Fill and Sign the Right of First Refusal a Complete Tenant Guidelease Ref Form

24.03[2] The Expansion Option-Clause with Right of First RefusalThe following clause provides the tenant with a right of first refusal if additional space becomes available within the building. Right of First Refusal (a) Tenant shall have a right of first refusal to lease additional space in the Building. Base Rent for the additional space shall be at the lower of (i) the per square foot rate Tenant is paying for its existing space at that time, or (ii) market rate. Base Rent shall commence sixty (60) days after occupancy of the additional space by Tenant for the conduct of business. The base year for increase or decrease in Taxes and Operating Expenses shall be the first full calendar year of the term of occupancy of the additional space. (b) Tenant is to have thirty (30) days after receiving notice from the Landlord that additional space is available to decide whether or not to lease said space. If Tenant exercises its right, Landlord agrees to prepare the additional space for Tenant's occupancy at Landlord's expense in accordance with Tenant's plans and specifications. (c) Tenant's right of first refusal shall be continuous throughout the initial term and renewal terms of the lease so that Tenant's decision not to lease a unit of space when it is available does not result in a forfeiture of Tenant's right. As each unit of space is available, Tenant shall have a right of first refusal. The following clause entitles the tenant to expand its operation within the building. Unlike the clause above, which requires space to become available, this clause provides a right to expand into space that will in fact be available. There is no variable (i.e., availability) that may impede the tenant's right to exercise the option. Expansion Option (a) Tenant shall have the right to lease up to an additional ________ rentable square feet of space on the ____ floor on the first day of the month in which the _____ anniversary of the Commencement Date occurs. Whether or not Tenant exercises its first expansion option, Tenant shall have a second option to lease up to an additional __________ rentable square feet of space on the _____ floor on the first day of the month next succeeding the month in which the _____ anniversary of the Commencement Date occurs. If Tenant exercises its first renewal option, Tenant shall have a third option to lease up to an additional __________ rentable square feet of space on the ______ floor on the first day of the month next succeeding the month in which the _______ anniversary of the Commencement Date occurs. (b) Tenant shall give Landlord not less than six months' prior written notice of its intention to exercise its option(s). Base Rent for the additional space(s) shall be at the lower of (i) the per square foot rate then being paid by Tenant for its existing space, or (ii) market rate. The base year for increases or decreases in Taxes and Operating Expenses shall be the first full calendar year of the term of the additional space(s). Base Rent shall commence sixty (60) days after occupancy of the space(s) by Tenant for the conduct of business. If Tenant exercises its right, Landlord agrees to prepare the additional space for Tenant's occupancy at Landlord's expense in accordance with Tenant's plans and specifications.