Building Expansion. (i) If tenant is not in default, beyond any applicable grace period, in respect of the performance of its obligations arising under the terms of this Agreement and has not exercised the Office Expansion Option in 11(b) hereof and (ii) this Agreement is in full force and effect in accordance with its terms, Tenant has the option (the "Building Expansion Option") to lease an addition to the Building that Landlord will erect in order to enlarge the floor area of the warehouse portion of the Building up to 22,500 square feet (the 'tBuil4ing Expansion"). If Landlord undertakes the construction of the Building Expansion in accordance with the terms of this Section 11, Landlord will construct it in the area depicted on the attached Exhibit B in accordance with plans and specifications mutually acceptable to the parties. In the event Tenant desires to exercise the Building Expansion Option at a time when there are less than ten years remaining on the Initial Term, then Tenant shall simultaneously with the exercise of the Building Expansion Option exercise its option to renew the Term for the First Renewal Term, and if necessary, the Second Renewal Term, in accordance with the terms of Section 5 of this Agreement. Tenant shall have the option to reduce the term of the First Renewal Term or the Second Renewal Term, as necessary, to a period that when added to the remainder of the Term, remaining at the time of Substantial Completion of the Building Expansion, will equal ten (10) years or may renew for the full five year period contained in the renewal option. Tenant may exercise the Building Expansion Option, if at all, by delivering written notice to Landlord. In that notice, Tenant shall state, if it is required to exercise the first renewal option the length of time which the first option will include as described above and also specify the floor area of the Building Expansion that Tenant requests Landlord to construct. In the event Tenant is required to exercise the first renewal option or the second renewal option, as the case may be, Base Rent for the renewal period shall be determined in accordance with the procedures contained in Section 5 of this Agreement; however, in the event arbitration is required, the determination of Base Rent shall be based on the decision as to Fair Market Rent as of the end of the Term. Once Landlord has substantially completed construction of the Building Expansion, the parties will consider the Building Expansion part of the Pre...
Building Expansion. The entire acreage described in paragraph 2 is reserved for the present or future use of the LESSEE. Without the written consent of the LESSEE the LESSOR shall not subdivide the property during the term of this lease or any extension thereof. Should the LESSOR be unable or unwilling to construct additional facilities as requested by the LESSEE during the initial term of this lease or any extension thereof, LESSEE may exercise an option to purchase the property as provided in paragraph 21.
Building Expansion. Should a termination of this Agreement occur, ADM will retain ownership of the building expansion constructed for the Solazyme Downstream Assets and, if necessary, ADM will allow and make reasonable accommodation to Solazyme, for the removal of the Solazyme Downstream Assets.
Building Expansion. In the event the Tenant elects to expand the Building, as currently depicted on Exhibit C hereto, then Tenant shall reimburse Landlord, in the manner provided below, for all costs incurred by Landlord to construct such expansion. The Building may be expanded by up to 3,600 square feet on the ground floor and up to 9,000 square feet on the second floor. To the extent the Building is expanded on the ground floor, Tenant will also be required to reimburse Landlord for all costs incurred to provide one (1) additional parking space for each 000 xxxxxx xxxx xx xxxxx xxxxx xxxx added to the ground floor plus that portion of any new second floor space added over said new ground floor expansion area. The costs of any Building or parking expansion will be paid by Tenant pursuant to a Modification approved by Landlord and Tenant. Tenant will be required to make the following payments to Landlord to cover the costs incurred by Landlord for such expansion of the Building (and any required parking lot expansion): (1) $75,000.00 on July 1, 2004; (2) $75,000.00 on September 1, 2004; (3) $75,000.00 on October 1, 2004;
Building Expansion. The Building Expansion shall contain a minimum of 140,176 square feet of distribution/warehouse space; provided that the square footage of the distribution/warehouse space contained in the Building Expansion shall not exceed the maximum square footage of the distribution/warehouse space that can be constructed on the Expansion Parcel: (a) in accordance with usual and customary site development and construction standards and techniques; and (b) in compliance with all Applicable Laws.
Building Expansion. In the event that Landlord desires to expand the ------------------ Building, then Landlord shall first submit all plans and specifications to Tenant for Tenant's review of the architectural design, building materials, and site plan, and subsequent approval or disapproval, which shall not be unreasonably withheld. Landlord , if said expansion takes place, plans to use the same materials, architectural design of the existing Building, and conform to the codes of Norfolk and the Norfolk Commerce Park. In the event of expansion, Landlord shall continue to maintain parking spaces equal to the sum of (i) 225 required spaces for Tenant hereunder, plus (ii) the number of parking spaces required under the then current zoning ordinance of the City of Norfolk, Virginia for the same square footage of such expansion plus the square footage of the Building which is not to be occupied by Tenant.
Building Expansion. Until the earlier of (i) the expiration or termination of this Lease, or (ii) the last day of the Development Protection Period (as defined in Exhibit C of the Master Agreement), Tenant will have the exclusive right to collaborate with Landlord on the expansion of the Building, consistent with the overall development goals for the Park as set forth in Recital A of the Master Agreement, and Landlord will negotiate in good faith with Tenant for such expansion on market terms, which may include the requirement to remove the temporary addition on the south facade of the Building which was installed by Tenant (the “Temporary Addition”) and restoration of the Property affected thereby. The foregoing exclusive right shall terminate upon any monetary default by Tenant under this Lease that remains uncured after three (3) months or more, even if subsequently cured.
Building Expansion. Provided this Lease is then in full force and effect and Tenant is not in default beyond any applicable grace period set forth in this Lease, and there is no sublease for the entire Premises or assignment of any of Tenant's interest in the Lease, other than Permitted Transfers, then at Tenant's option, subject to all government regulations and the provision of the park covenants of record, the Building may be expanded up to 20,000 square feet, provided Landlord and Tenant agree upon the cost, financing and other terms and conditions of said expansion.
Building Expansion. If the building is expanded during the initial term of the Lease Agreement, the following additional charge will be made on top of the monthly rent stated on Clause V.A. of this Lease Agreement: As additional monthly rent for the Expansion of the building during the initial Lease Term, COMPANY shall pay to TEDE at the address of TEDE stated above, the additional rent equivalent for the then current lease rate per square foot of covered area per month, at the time that the expansion is completed. The lease rate will be applicable only to the improvements made by TEDE in addition to the original improvements described on exhibit D.
Building Expansion. Tenant will have the right to require Landlord to expand the Building upon the terms and conditions set forth on Exhibit "B" attached hereto and made a part hereof for all purposes.
