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Right of First Offer to Lease Additional Space

Book Publication Date: Nov 2013
Description: A clause that gives a tenant a right of first offer to lease additional space will provide some flexibility to the tenant if they find they want to expand. This sample clause provides that if space becomes available the landlord will offer the tenant the first opportunity to lease the additional space.
Type: Contract Clauses
PLI Item #: 60631
Practice Area: Commercial leases, Real estate, Real estate leasing

Keywords: "real estate"; "commercial real estate" landlord; tenant; lease; "right of first offer"; "additional space"; "aggregate basis"; "net effective rent"; "event of default"; "permitted assignee"

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