First right of refusal clause samples

Effective at any time after January1, 2014, upon twelve (12) months prior written notice to Tenant, Landlord may terminate this Lease should Landlord decide that it will redevelop the Building of which the Premises are a part. Should Landlord exercise such termination right, Tenant shall have a first right of refusal to lease space in the redeveloped property at the then current market rate and terms for comparable office space at such time in the Cherry Creek North submarket “Fair Market Offer”. Landlord shall issue Tenant its good faith Fair Market Offer describing the available space and the market rate and terms at which such space is being offered and Tenant shall have 30 days from receipt of such written notice to exercise its right of first refusal. If Tenant fails to respond or notifies Landlord that Tenant elects not to exercise its right of first refusal, Landlord shall thereafter have the right to offer such space for lease upon such terms as Landlord desires and Tenant shall have no further first right of refusal. Should Tenant elect to exercise its right of first refusal, Landlord and Tenant shall, in good faith, negotiate a lease for such space upon the offered terms and such other terms as are agreed by the parties. Landlord shall also provide acceptable temporary space in the 299 Milwaukee Building, provided space is available and an affiliate of Landlord is the owner of the 299 Milwaukee Builiding, while new space is being constructed. The rental rate for the temporary space shall not exceed the rent then being paid for the 233 Milwaukee Premises and Landlord shall reimburse Tenant for all reasonable moving related costs. Should Landlord and Tenant be unable to negotiate and sign a lease for the space within 45 days following Tenant’s exercise of its right of first refusal, Landlord shall thereafter have the right to offer such space for lease upon such terms as Landlord desires and Tenant shall have no further first right of refusal.