Common use of Additional Space Clause in Contracts

Additional Space. (i) During the Term, the Commissioner may from time to time make Additional Space available in the Terminals for concession operations. In that event, the Commissioner in her absolute discretion may determine what portion, if any, of the space will be made available to Tenant under this Agreement, but not to exceed square footage set forth in the Term Sheet. In such event, the Commissioner will send written notice to Tenant to advise Tenant of the following: a. size and location of the Additional Space being offered, if any; b. whether it is being offered as Retail Space or Storage Space; and c. the City’s Shell and Core obligations and Tenant’s Improvement obligations for the Additional Space. Within 30 days after receiving the notice from the Commissioner, Tenant must notify the Commissioner if it accepts or rejects the Additional Space and, if the Additional Space is Retail Space, the amount by which Tenant proposes to increase its Minimum Annual Guarantee to reflect the anticipated increase in Gross Revenues from the Additional Space. Upon notification from Tenant to the Commissioner that Tenant accepts the Additional Space and, if the Additional Space is Retail Space, acceptance by the Commissioner of the proposed increase in the Minimum Annual Guarantee, the square footage will be added to the Retail Space or Storage Space, as applicable, under this Agreement and Exhibit 2 modified accordingly. Upon notification from Tenant to the Commissioner that it rejects the Additional Space or if Tenant fails to notify the Commissioner within 30 days that it accepts the Additional Space, the offer will terminate and the Commissioner may offer the Additional Space to others. (ii) Nothing in (i) above requires the Commissioner to offer any Additional Space to Tenant or limits or restricts the Commissioner's or the City's right to enter into any Concession agreement with any third party.

Appears in 2 contracts

Samples: Retail Concession Lease and License Agreement, Retail Concession Lease and License Agreement

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Additional Space. (i) During the Term, the Commissioner may from time to time time, at his sole discretion, make Additional Space available in the Terminals for concession Licensee’s Concession operations. In that event, the Commissioner in her absolute discretion may determine what portion, if any, of the space will be made available to Tenant under this Agreement, but not to exceed square footage set forth in the Term Sheet. In such event, the Commissioner will send written notice to Tenant Licensee to advise Tenant Licensee of the following: a. size and location of the Additional Space being offered, if any; b. whether it the Additional Space is being offered as Retail Concession Space or Storage Space; c. Licensee’s Improvement obligations for the Additional Space; and c. d. the City’s Shell and Core obligations and Tenant’s Improvement obligations additional Fixed Fee for the Additional Space. Within 30 days after receiving the notice from the Commissioner, Tenant Licensee must notify the Commissioner if it accepts or rejects the Additional Space and, if the Additional Space is Retail Concession Space, and the amount by which Tenant proposes to increase its Minimum Annual Guarantee to reflect the anticipated increase in Gross Revenues from the Additional Spaceproposed Improvements. Upon notification from Tenant Licensee to the Commissioner that Tenant Licensee accepts the Additional Space and, if the Additional Space is Retail Concession Space, acceptance by the Commissioner of the proposed increase in the Minimum Annual GuaranteeImprovements, the square footage will be added to the Retail Concession Space or Storage Space, as applicable, under this Agreement and Exhibit Exhibits 1 and 2 modified accordingly. Upon notification from Tenant Licensee to the Commissioner that it rejects the Additional Space or if Tenant Licensee fails to notify the Commissioner within 30 days that it accepts the Additional Space, the offer will terminate and the Commissioner may offer the Additional Space to others. (ii) Nothing in (i) above requires the Commissioner to offer any Additional Space to Tenant Licensee or limits or restricts the Commissioner's or the City's right to enter into any Concession agreement with any third partyparty for such space. Additional Space, if any, offered to Licensee is solely for the benefit of the City or Cultural Center to enhance Cultural Center revenues, and whether or not to offer such Additional Space to Licensee is at the Commissioner’s sole discretion. LICENSEE HAS NO RIGHT TO BE OFFERED ANY ADDITIONAL SPACE.

Appears in 1 contract

Samples: Cultural Center Concession License Agreement

Additional Space. (i) During the Term, the Commissioner may from time to time make Additional Space available in the Terminals for concession operations. In that event, the Commissioner in her absolute discretion may determine what portion, if any, of the space will be made available to Tenant under this Agreement, but not to exceed square footage set forth in the Term Sheet. In such event, the Commissioner will send written notice to Tenant to advise Tenant of the following: a. size and location of the Additional Space being offered, if any; b. whether it is being offered as Retail Space or Storage Space; and c. the City’s Shell and Core obligations and Tenant’s Improvement obligations for the Additional Space. SAMPLE Within 30 days after receiving the notice from the Commissioner, Tenant must notify the Commissioner if it accepts or rejects the Additional Space and, if the Additional Space is Retail Space, the amount by which Tenant proposes to increase its Minimum Annual Guarantee to reflect the anticipated increase in Gross Revenues from the Additional Space. Upon notification from Tenant to the Commissioner that Tenant accepts the Additional Space and, if the Additional Space is Retail Space, acceptance by the Commissioner of the proposed increase in the Minimum Annual Guarantee, the square footage will be added to the Retail Space or Storage Space, as applicable, under this Agreement and Exhibit 2 modified accordingly. Upon notification from Tenant to the Commissioner that it rejects the Additional Space or if Tenant fails to notify the Commissioner within 30 days that it accepts the Additional Space, the offer will terminate and the Commissioner may offer the Additional Space to others. (ii) Nothing in (i) above requires the Commissioner to offer any Additional Space to Tenant or limits or restricts the Commissioner's or the City's right to enter into any Concession agreement with any third party.

Appears in 1 contract

Samples: Retail Concession Lease and License Agreement

Additional Space. (i) During the Term, the Commissioner may from time to time time, at his/her sole discretion, make Additional Space available in the Terminals for concession Tenant’s Concession operations. In that event, the Commissioner in her absolute discretion may determine what portion, if any, of the space will be made available to Tenant under this Agreement, but not to exceed square footage set forth in the Term Sheet. In such event, the Commissioner will send written notice to Tenant to advise Tenant of the following: a. size and location of the Additional Space being offered, if any; b. whether it the Additional Space is being offered as Retail Space or Storage Space; and c. the City’s Shell and Core obligations and Tenant’s Improvement obligations for the Additional Space. Within 30 days after receiving the notice from the Commissioner, Tenant must notify the Commissioner if it accepts or rejects the Additional Space and, if the Additional Space is Retail Space, the proposed Improvements and the amount by which Tenant proposes to increase its Minimum Annual Guarantee to reflect the anticipated increase in Gross Revenues from the Additional Space. Upon notification from Tenant to the Commissioner that Tenant accepts the Additional Space and, if the Additional Space is Retail Space, acceptance by the Commissioner of the proposed Improvements and increase in the Minimum Annual Guarantee, the square footage will be added to the Retail Space or Storage Space, as applicable, under this Agreement and Exhibit Exhibits 1 and 2 modified accordingly. Upon notification from Tenant to the Commissioner that it rejects the Additional Space or if Tenant fails to notify the Commissioner within 30 days that it accepts the Additional Space, the offer will terminate terminate, and the Commissioner may offer the Additional Space to others. (ii) Nothing in (i) above requires the Commissioner to offer any Additional Space to Tenant or limits or restricts the Commissioner's or the City's right to enter into any Concession agreement with any third partyparty for such space. Additional Space, if any, offered to Tenant is solely for the benefit of the Airport to enhance Airport revenues, and whether or not to offer such Additional Space to Tenant is at the Commissioner’s sole and absolute discretion. TENANT HAS NO RIGHT TO BE OFFERED ANY ADDITIONAL SPACE. (iii) The maximum aggregate amount of Retail Space that may be offered to Tenant as Additional Space is 2,000 sq. ft.

Appears in 1 contract

Samples: Lease and License Agreement

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Additional Space. (i) During the Term, the Commissioner may from time to time time, at his sole discretion, make Additional Space available in the Terminals for concession Licensee’s Concession operations. In that event, the Commissioner in her absolute discretion may determine what portion, if any, of the space will be made available to Tenant under this Agreement, but not to exceed square footage set forth in the Term Sheet. In such event, the Commissioner will send written notice to Tenant Licensee to advise Tenant Licensee of the following: a. size and location of the Additional Space being offered, if any; b. whether it the Additional Space is being offered as Retail Concession Space or Storage Space; c. Licensee’s Improvement obligations for the Additional Space; and c. d. the City’s Shell and Core obligations and Tenant’s Improvement obligations additional Fixed Fee for the Additional Space. Within 30 days after receiving the notice from the Commissioner, Tenant Licensee must notify the Commissioner if it accepts or rejects the Additional Space and, if the Additional Space is Retail Concession Space, and the amount by which Tenant proposes to increase its Minimum Annual Guarantee to reflect the anticipated increase in Gross Revenues from the Additional Spaceproposed Improvements. Upon notification from Tenant Licensee to the Commissioner that Tenant Licensee accepts the Additional Space and, if the Additional Space is Retail Concession Space, acceptance by the Commissioner of the proposed increase in the Minimum Annual GuaranteeImprovements, the square footage will be added to the Retail Concession Space or Storage Space, as applicable, under this Agreement and Exhibit Exhibits 1 and 2 modified accordingly. Upon notification from Tenant Licensee to the Commissioner that it rejects the Additional Space or if Tenant Licensee fails to notify the Commissioner within 30 days that it accepts the Additional Space, the offer will terminate and the Commissioner may offer the Additional Space to others. (ii) Nothing in (i) above requires the Commissioner to offer any Additional Space to Tenant Licensee or limits or restricts the Commissioner's or the City's right to enter into any Concession agreement with any third partyparty for such space. Additional Space, if any, offered to Licensee is solely for the benefit of the City or Park to enhance Park revenues, and whether or not to offer such Additional Space to Licensee is at the Commissioner’s sole discretion. LICENSEE HAS NO RIGHT TO BE OFFERED ANY ADDITIONAL SPACE.

Appears in 1 contract

Samples: Concession License Agreement

Additional Space. (i) During the Term, the Commissioner may from time to time time, at the Commissioner’s sole discretion, make Additional Space available in the Terminals for concession Tenant’s Concession operations. In that event, the Commissioner in her absolute discretion may determine what portion, if any, of the space will be made available to Tenant under this Agreement, but not to exceed square footage set forth in the Term Sheet. In such event, the Commissioner will send written notice to Tenant to advise Tenant of the following: a. size and location of the Additional Space being offered, if any; b. whether it the Additional Space is being offered as Retail Space or Storage Space; and c. the City’s Shell and Core obligations and Tenant’s Improvement obligations for the Additional Space. Within 30 days after receiving the notice from the Commissioner, Tenant must notify the Commissioner if it accepts or rejects the Additional Space and, if the Additional Space is Retail Space, the proposed Improvements and the amount by which Tenant proposes to increase its Minimum Annual Guarantee to reflect the anticipated increase in Gross Revenues from the Additional Space. Upon notification from Tenant to the Commissioner that Tenant accepts the Additional Space and, if the Additional Space is Retail Space, acceptance by the Commissioner of the proposed Improvements and increase in the Minimum Annual Guarantee, the square footage will be added to the Retail Space or Storage Space, as applicable, under this Agreement and Exhibit Exhibits 1 and 2 modified accordingly. Upon notification from Tenant to the Commissioner that it rejects the Additional Space or if Tenant fails to notify the Commissioner within 30 days that it accepts the Additional Space, the offer will terminate terminate, and the Commissioner may offer the Additional Space to others. (ii) Nothing in (i) above requires the Commissioner to offer any Additional Space to Tenant or limits or restricts the Commissioner's ’s or the City's ’s right to enter into any Concession agreement with any third partyparty for such space. Additional Space, if any, offered to Tenant is solely for the benefit of the Airport to enhance Airport revenues, and whether or not to offer such Additional Space to Tenant is at the Commissioner’s sole and absolute discretion. TENANT HAS NO RIGHT TO BE OFFERED ANY ADDITIONAL SPACE. (iii) The maximum aggregate amount of Retail Space that may be offered to Tenant as Additional Space is 2,000 sq. ft.

Appears in 1 contract

Samples: Concession Lease and License Agreement

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