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Right of First Offer to Buy Premises
Negotiating Commercial Leases 2013 ( Edition)
Book Publication Date:
During the course of a commercial lease the landlord may wish to sell the premises to a third party.
However, the tenant may want to purchase the premises themselves rather than get a new landlord.
This sample clause provides that in the event the landlord wishes to put the premises on the market they will first offer the tenant the option to purchase.
PLI Item #:
"commercial real estate" landlord
"option to purchase"
"rent commencement date"
"right of first offer"
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