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Right of First Offer to Lease Additional Space

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.
Form Type: Contract Clauses
Practice Area: Real Estate

Date: Nov 2013
PLI Item #: 60631
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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