ADDITIONAL SPACE OPTION Sample Clauses

ADDITIONAL SPACE OPTION. Provided Lessee is not in default pursuant to any of the terms and conditions of this Lease and subject to the availability of the Additional Space, as hereinafter defined, Lessee shall have the option of leasing additional space consisting of between approximately 10,000 gross rentable square feet and 16,000 gross rentable square feet of contiguous space on the fourth (4th) floor (hereinafter referred to as the "Additional Space"), in its "AS IS" condition, which Additional Space may, at Lessor's option, be split between contiguity to (i) the Fourth Floor Space and (ii) the 6,150 Space. Not later than the expiration of the thirty-sixth (36th) month of the Lease Term, Lessee shall notify Lessor in writing of its desire to lease the Additional Space, which Additional Space, if available, shall be delivered to Lessee between the thirty-sixth (36th) and fiftieth (50th) months of the Term, as determined in Lessor's sole discretion. Should Lessee elect to lease the Additional Space, (i) the cancellation option as provided for in Section 56 above shall be declared null and void and of no further force or effect, and (ii) Lessee shall be deemed to have automatically extended the original Term of this Lease (for all space leased) to expire at 11:59 p.m. on the day immediately preceding the fifth (5th) anniversary of the commencement date of the Additional Space. Upon the exercise of this option, and upon the commencement of the term for said Additional Space, the Demised Premises and Proportionate Share shall increase accordingly and be deemed amended to include said Additional Space. The Basic Rent per gross rentable square foot of the Additional Space to be paid by Lessee shall be equal to the per square foot rate which Lessee is then paying for the 6,150 Space pursuant to the terms and provisions of this Lease. The Basic Rent to be paid by Lessee to Lessor for all space leased for any period extending beyond the eighty sixth (86th) month anniversary of the Commencement Date shall accrue at the rate of Twenty-six and 14/100 ($26.14) Dollars per gross rentable square foot per annum.
Sample 1
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ADDITIONAL SPACE OPTION. (a) Tenant acknowledges that the entire rentable area of the 16th floor of the Building is presently leased to other tenants. Attached hereto as EXHIBIT F-1 is a list of the existing leases (collectively, the "16TH FLOOR LEASES") covering the entire rentable area of the 16th floor of the Building (the entire rentable area of the 16th floor of the Building being hereinafter referred to as the "16TH FLOOR ADDITIONAL SPACE"), together with the dates of expiration of each 16th Floor Lease (each a "16TH FLOOR LEASE EXPIRATION DATE"), a floor plan of each portion of the 16th Floor Additional Space covered by a 16th Floor Lease, the percentage of the total rentable area of the Building that each such portion represents (each a "16TH FLOOR PERCENTAGE"), and, for the purposes of determining the 16th Floor Additional Space Construction Payment and the Additional Space Fixed Rent (as such terms are hereinafter defined) for the 16th Floor Additional Space, a "Payment Factor" for each portion of the 16th Floor Additional Space covered by a 16th Floor Lease. Tenant shall have the one-time option (the "16TH FLOOR ADDITIONAL SPACE OPTION") to lease from Landlord the entire 16th Floor Additional Space (as opposed to leasing only portions thereof), for the periods commencing on the date (each a "16TH FLOOR ADDITIONAL SPACE COMMENCEMENT DATE") immediately following each 16th Floor Lease Expiration Date, and expiring on the Expiration Date, which 16th Floor Additional Space Option shall be exercised only by Tenant giving to Landlord notice thereof (the "16TH FLOOR ADDITIONAL SPACE EXERCISE NOTICE") on or before July 31, 2002 (the "16TH FLOOR ADDITIONAL SPACE EXERCISE NOTICE DATE"), TIME BEING OF THE ESSENCE, subject to the provisions of this Article. Landlord acknowledges that certain space on the 16th Floor consisting of 2,939 rentable square feet is currently vacant. Landlord agrees that until the option on the 16th Floor Additional Space is waived or expires in accordance with this Article 59 Landlord will not execute a lease for such space with an expiration date later than November 30, 2003. In addition, Landlord acknowledges that certain space leased to Xxxxxx Xxxxx Mercator ("WSM") expires on March 31, 2000. If Tenant desires to exercise the option to lease the space leased to WSM, the 16th Floor Additional Space Exercise Notice Date shall be October 1, 1999 with respect to such space only and Tenant shall have the right to exercise a 16th Floor Additional Space Option...
Sample 1
ADDITIONAL SPACE OPTION. Tenant has a twelve (12) month option from the date this Lease is fully executed, to lease the remaining rentable space of approximately 37,000 square feet (the “Additional Space”), to be constructed in the Complex, provided that during the last three (3) month period of this Lease Landlord may offer space to other tenants subject to Tenant’s election not to exercise its option. Landlord shall submit to Tenant all offers for the Additional Space executed by the Landlord and other tenant. Tenant shall notify Landlord within thirty (30) days of receipt of such offer of Tenant’s election to exercise or not exercise its option to lease the Additional Space. If Tenant exercises its option to lease the Additional Space, all the terms and conditions of this Lease shall apply, including preparation of Tenant’s space and Tenant Improvement Allowance of which shall be increased proportionally. Rent for entire
Sample 1
ADDITIONAL SPACE OPTION. (a) Landlord covenants that the Tenant shall have the first right to lease any additional space on the Property located at 000 Xxxxxx Xxxxxx, Aurora which may become available during the term of his Lease and any of its renewal options, under the same terms and conditions as the Tenant's current lease save for the Minimum (Base) rent which is to be negotiated at the time of the Offer to Lease. Said option shall also include 000 Xxxxxx Xxxxxx which at the time of this offer was leased to Instachange Displays Limited. This option shall be agreed to if no other Tenant has been given the same option. The Landlord covenants to notify the Tenant in writing of any such available space. The Tenant shall have 4 (four) banking days from such notice by the Landlord to notify the Landlord in writing, of his intent to lease said additional space offered to the Tenant. If the Tenant's notice in writing is not received within 4 (four) banking days, the Landlord may proceed with the lease of the space. (b) Landlord and Tenant agree that should the Tenant exercise his option for additional space, such option would be incorporated as an amendment to the Offer to Lease and Lease.
Sample 1
ADDITIONAL SPACE OPTION. 88 ARTICLE 42 Antenna.........................................................92 ARTICLE 43
Sample 1
ADDITIONAL SPACE OPTION. 41.01 Subject to the provisions of this Article 41, and provided that, at the time of delivery of the "Exercise Notice" (as hereafter defined) and on the "Option Space Commencement Date" (as hereafter defined), this lease shall be in full force and effect and without a default on the part of Tenant under this lease in the observance or performance of any of the terms, covenants and conditions on Tenant's part to be observed or performed, which continues after notice and the expiration of any applicable cure period, Tenant shall have the option (hereinafter referred to as "TENANT'S ADDITIONAL SPACE OPTION") to lease from Landlord the balance of the eighteenth (18th) floor of the Building (hereinafter referred to as the "OPTION SPACE") as set forth on the floor plan annexed hereto as Exhibit I which, together with the 18th Premises, shall be deemed to contain 35,584 rentable square feet, upon the terms and conditions hereafter set forth.
Sample 1
ADDITIONAL SPACE OPTION. If, after twenty four (24) months from the Commencement Date, additional space on the first or second floor of the building becomes available for lease, and if Landlord has no interest in leasing it to a business in which Landlord has an interest, Landlord shall first give Tenant written notice of the space availability and a written statement of acceptable terms. Tenant shall have a period of five (5) days from such notice within which to accept or reject Landlord's offer to lease. If Tenant does not accept the offer, in writing, with the five (5) day period, Landlord shall be free to offer the space for lease, and to lease the space to any third party under terms identical to, or more favorable to Landlord than, those offered to Tenant.
Sample 1
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ADDITIONAL SPACE OPTION. (a) For purposes of this lease, the "Additional Space" shall mean the remaining portion of the fourteenth (14th) floor of the Building known as Suite 1404 (hereinafter called the "Additional Space") as shown cross-hatched on the plan annexed hereto as Schedule H.
Sample 1
ADDITIONAL SPACE OPTION. Effective as of the date of this Agreement, Article 57 of the Lease (which is captioned "Limited Right to Lease Additional Space") is hereby deleted in its entirety, and Tenant's option thereunder shall cease and terminate and be of no force or effect, and Tenant shall have no option under the Lease with regard to leasing additional space in the Building except as specifically provided in Article 21 of this Agreement.
Sample 1

Related to ADDITIONAL SPACE OPTION

  • Additional Space Commencing on May 1, 2001, Sublessor herein grants unto the Sublessee a Right of First Refusal on any space that shall be and/or becomes available in the building during the remaining Term of this Sublease. Prior to May 1, 2001 and thereafter prior to the first day of May of any calendar year during the remaining Term hereof, Sublessor shall notify Sublessee by written notice of the availability of any such space in the building. Should Sublessee desire to exercise its Right of First Refusal and sublease such available space, Sublessee must notify Sublessor in writing of its desire to sublease the available space within seven (7) calendar days of Sublessee's receipt of Landlord's notice of availability. Within thirty (30) days of the receipt of Sublessee's notice exercising the right to sublease such available space, Sublessee and Sublessor shall enter into an amendment of this agreement setting forth the terms under which the additional space is subleased to Sublessee. The Base Rental shall be at a rental mutually agreed between Sublessee and Sublessor. Failure by Sublessee to exercise its Right of First Refusal within said seven (7) calendar day period, or if exercised, failure to enter into an amendment of this agreement within thirty (30) days of Sublessor's receipt of Sublessee's notice, shall be deemed a waiver of such right and Sublessor shall thereafter be free of any obligation under this Article 2.04 for a period of 12 months. Any exercise by Sublessee of this Right of First Refusal shall be for a minimum of 5,000 rental square feet.

  • Expansion Option The Borrower may from time to time elect to increase the Revolving Credit Commitments in minimum increments of $25,000,000 (or such lesser amount as the Administrative Agent may agree) so long as, after giving effect thereto, the aggregate amount of such increases does not exceed $50,000,000. The Borrower may arrange for any such increase to be provided by one or more Lenders (each Lender so agreeing to an increase in its Revolving Credit Commitment, an “Increasing Lender”), or by one or more new banks, financial institutions or other entities (each such new bank, financial institution or other entity, an “Augmenting Lender”; provided that no Ineligible Institution may be an Augmenting Lender), which agree to increase their existing Revolving Credit Commitments, or provide new Revolving Credit Commitments, as the case may be; provided that (i) each Augmenting Lender, shall be subject to the approval of the Borrower, each Letter of Credit Issuer and the Administrative Agent and (ii) (x) in the case of an Increasing Lender, the Borrower and such Increasing Lender execute an agreement substantially in the form of Exhibit G hereto, and (y) in the case of an Augmenting Lender, the Borrower and such Augmenting Lender execute an agreement substantially in the form of Exhibit H hereto. No consent of any Lender (other than the Lenders participating in the increase) shall be required for any increase in Revolving Credit Commitments pursuant to this Section 2.15. Increases and new Revolving Credit Commitments created pursuant to this Section 2.15 shall become effective on the date agreed by the Borrower, the Administrative Agent and the relevant Increasing Lenders or Augmenting Lenders, and the Administrative Agent shall notify each Lender thereof. Notwithstanding the foregoing, no increase in the Revolving Credit Commitments (or in the Revolving Credit Commitment of any Lender) shall become effective under this paragraph unless, (i) on the proposed date of the effectiveness of such increase, (A) the conditions set forth in paragraphs (a) and (b) of Section 6.2 shall be satisfied or waived by the Required Lenders and the Administrative Agent shall have received a certificate to that effect dated such date and executed by an Authorized Officer of the Borrower and (B) the Borrower shall be in compliance with the covenant contained in Section 9.3 and (ii) the Administrative Agent shall have received documents and opinions consistent with those delivered on the effective date as to the organizational power and authority of the Borrower to borrow hereunder after giving effect to such increase. On the effective date of any increase in the Revolving Credit Commitments, (i) each relevant Increasing Lender and Augmenting Lender shall make available to the Administrative Agent such amounts in immediately available funds as the Administrative Agent shall determine, for the benefit of the other Lenders, as being required in order to cause, after giving effect to such increase and the use of such amounts to make payments to such other Lenders, each Lender’s portion of the outstanding Revolving Credit Loans of all the Lenders to equal its Revolving Credit Commitment Percentage of such outstanding Revolving Credit Loans, and (ii) the Borrower shall be deemed to have repaid and reborrowed all outstanding Revolving Credit Loans as of the date of any increase in the Revolving Credit Commitments (with such reborrowing to consist of the Types of Revolving Credit Loans, with related LIBOR Periods if applicable, specified in a notice delivered by the Borrower, in accordance with the requirements of Section 2.9). The deemed payments made pursuant to clause (ii) of the immediately preceding sentence shall be accompanied by payment of all accrued interest on the amount prepaid and, in respect of each LIBOR Loan, shall be subject to indemnification by the Borrower pursuant to the provisions of Section 2.11 if the deemed payment occurs other than on the last day of the related LIBOR Periods. Nothing contained in this Section 2.15 shall constitute, or otherwise be deemed to be, a commitment on the part of any Lender to increase its Revolving Credit Commitment hereunder.

  • Expansion Premises In addition to the Original Premises, commencing on the Expansion Premises Commencement Date (as defined below), Landlord leases to Tenant, and Tenant leases from Landlord, the Expansion Premises.

  • Existing Premises Notwithstanding anything to the contrary in the Lease as hereby amended, Tenant shall continue to pay Base Rent for the Existing Premises in accordance with the terms of the Lease.

  • Expansion Space As used in this paragraph, the term “Expansion Space” means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.

  • Additional Premises Landlord shall use commercially reasonable efforts to expand the Premises to include an additional fifteen thousand four hundred ten (15,410) square feet of Rentable Area located on the first (1st) floor, as shown on Exhibit A attached hereto (the “Additional Premises”) on July 1, 2012 (the “Additional Premises Delivery Date”). In the event Landlord determines the Additional Premises will be ready for delivery to Tenant in the Required Condition on the Additional Premises Delivery Date, within ten (10) business days prior to the Additional Premises Delivery Date, Landlord and Tenant shall enter into a written amendment to the Lease, which amendment shall provide, unless otherwise agreed in writing, (a) that the commencement date of the Additional Premises shall be the Additional Premises Delivery Date (the “Additional Premises Commencement Date”), (b) that, as of the Additional Premises Commencement Date, the Premises under the Lease shall be increased to include the Additional Premises for a total of sixty-one thousand four hundred forty-four (61,444) square feet of Rentable Area (together, the Premises and the Additional Premises shall be referred to hereinafter as the “Total Premises”), (c) the new Basic Annual Rent applicable to the Total Premises, which shall commence on the Additional Premises Commencement Date and shall be as further described in Section 4.2 of this Amendment, (d) Tenant’s new Pro Rata Share of Operating Expenses as of the Additional Premises Commencement Date, which Pro Rata Share shall equal one hundred percent (100%) of the Building and thirty-three and 51/100 percent (33.51%) of the Project and (e) that, in addition to the parking which Tenant is entitled to under the terms of the Lease with respect to the original Premises, Tenant, for so long as Tenant leases the Additional Premises, shall have a non-exclusive license to use the parking facilities serving the Building in common on an unreserved basis with other tenants of the Building and the Project at a ratio of 3.3 parking spaces per 1,000 rentable square feet of Additional Premises, which amounts to fifty-one (51) additional parking spaces, which number shall include three (3) additional Reserved Spaces. In the event the Additional Premises is not ready for delivery to Tenant in the Required Condition on the Additional Premises Delivery Date, then (x) this Amendment and the Lease shall not be void or voidable, (y) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom and (z) the new Basic Annual Rent applicable to the Premises shall be as further described in Section 4.3 of this Amendment.

  • Extension Option The Borrower may request that the Commitments be extended for up to two additional one year periods by providing not less than 30 days’ written notice (the date of such notice, a “Notice Date”) to the Administrative Agent prior to any anniversary of the Closing Date. If a Bank agrees, in its individual and sole discretion (and with the approval of the Swingline Lender and the Issuing Banks, such approval, in each case, not to be unreasonably withheld, delayed or conditioned), to extend its Commitment (such Bank, an “Extending Bank”), it will notify the Administrative Agent, in writing, of its decision to do so no later than 15 days after the applicable Notice Date (such extension decision, a “Commitment Extension”). The Administrative Agent will notify the Borrower, in writing, of the Banks’ decisions promptly upon receipt thereof and in any event not later than one (1) Business Day after receipt thereof. The Extending Banks’ Commitments will be extended for an additional year from the then current Maturity Date so long as (i) the Commitments of the Extending Banks (after giving effect to any assumption by any Extending Banks of Commitments of Declining Banks as described below), together with the Commitments of any New Banks that replace any Declining Banks, represent more than 50% of the Total Commitments then in effect, and (ii) on the date of any request by the Borrower to extend the Commitments, the applicable conditions set forth in Section 5.3 shall be satisfied. No Commitment Extension shall result in the then-existing Maturity Date being more than five (5) years from the effective date of such Commitment Extension. No Bank shall be required to consent to any such extension request or be required to increase its Commitment. The Maturity Date with respect to any Bank that declines or does not respond to the Borrower’s request for an extension of the Commitments (a “Declining Bank”) shall remain the then-existing Maturity Date (without regard to any extension of the Commitments of other Banks); provided that the Borrower shall continue to have the right to replace any such Declining Bank (with respect to all or any portion of its Commitment) following the effectiveness of any such extension. The Borrower will have the right to accept Commitments from any Eligible Assignee that is not a Bank in an aggregate amount up to the aggregate amount of the Commitments of any Declining Banks; provided that any Eligible Assignee proposed to be substituted for a Declining Bank (unless such Eligible Assignee is an affiliate of a Bank) must be approved by the Administrative Agent, the Swingline Lender and the Issuing Banks, such approval, in each case, not to be unreasonably withheld, delayed or conditioned. The Borrower may only extend the Maturity Date twice during the term of this Agreement pursuant to this Section 2.7.

  • Term of the Option The term of the Option (the “Option Period”) shall be for a period of ten (10) years from the Effective Date, terminating at the close of business on the tenth anniversary of the Effective Date (the “Expiration Date”) or such shorter period as provided in Section 6 hereof.

  • Term of the Lease The lease begins at p.m. on (the “Check-in Date”) and ends at a.m. on (the “Checkout Date”).

  • Renewal Option This Contract may be renewed under the same terms and conditions, subject to the approval of the Commissioner of the Department of Administration and the State Budget Director in compliance with IC § 5-22-17-4. The term of the renewed contract may not be longer than the term of the original Contract.

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