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EXHIBIT TO LEASE TENANT RIGHT OF FIRST REFUSAL TO LEASE ADDITIONAL SPACE 1. Grant of Right of First Refusal. Tenant shall have an ongoing right of first refusal (the Right of First Refusal) to lease
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People Also Ask about
What is the right of first refusal on adjacent spaces?
ROFR allows commercial tenants the first opportunity to expand into neighboring spaces. The term neighboring spaces could refer to adjacent spaces, non-adjacent spaces or a combination of both.
What is the meaning of the right of first refusal?
In real estate, the right of first refusal is a clause in a contract that gives a prioritized, interested party the right to make the first offer on a house before the owner can negotiate with other prospective buyers.
What is the time period for the right of first refusal?
Some agreements only let the holder make an offer at the end of the term, while people can use others anytime. ROFRs usually last one or two years since longer terms are riskier.
What is the right of first refusal in India?
Right of first refusal is a contract between Two Parties wherein the second party (Holder) has the contractual first right or first opportunity (Granter) to accept or decline an offer. There is no obligation on the second party to accept the offer. This clause legally binds both parties.
What is the meaning of ROFR land?
Right of first refusal (ROFR) is a right in a contract that offers a party a chance to acquire something beneficial before it is offered to a third party.
What is the right of first refusal in a lease clause?
Right of First Refusal to Lease is a lease clause that gives an existing tenant the first opportunity to lease additional space that is currently vacant or might become available to lease when another tenant vacates a space in the property.
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What is exhibit to lease tenant?
Exhibit to lease tenant is a document outlining the terms and conditions of a lease agreement between a landlord and a tenant.
Who is required to file exhibit to lease tenant?
The landlord is typically required to file the exhibit to lease tenant.
How to fill out exhibit to lease tenant?
The exhibit to lease tenant should be filled out with the details of the lease agreement, including rent amount, lease term, and any other relevant terms.
What is the purpose of exhibit to lease tenant?
The purpose of exhibit to lease tenant is to provide a detailed record of the terms agreed upon between the landlord and tenant.
What information must be reported on exhibit to lease tenant?
The exhibit to lease tenant should include information such as the property address, names of the landlord and tenant, lease term, rent amount, and any additional terms or conditions.
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