Contraction. Provided Tenant is not in default under the terms of this Lease, after all applicable cure periods, at the time it gives notice of the proposed contraction date, and at the contraction date, and provided Tenant is not in default beyond the applicable cure period on more than one occasion between the notice and contraction date, and Tenant has not, within five (5) years of the effective date of such contraction, expanded the Demised Premises under Paragraph 1(c), Tenant shall have the right to contract Tenant's Rentable Area by 10,000 square feet, which is denominated on Exhibit "E" as "Contraction Area". The right to contract shall only be effective after the sixtieth (60th) month following the "Rent Commencement Date" (as hereinafter defined). Tenant shall provide Landlord not less than nine (9) months prior written notice of the proposed contraction date, which date shall only be effective on the last day of a calendar month. Coincident with providing Landlord notice of Tenant's intent to contract the Demised Premises, Tenant shall pay to Landlord a "Contraction Penalty" equal to the cost of construction of demising the premises plus all unamortized lease up costs, allocated to the Contraction Area at a rate of seven percent (7%) per annum, which shall include, but not be limited to, the "Tenant Allowance", "Extra Tenant Allowance", "Touch up Allowance", if applicable and as hereinafter defined, real estate commissions and any Expansion Allowance expended by Landlord under Paragraph 1(c) (collectively "Lease Up Costs"). The amortization period for the Lease Up Costs shall be ten (10) years from the Rent Commencement Date ("Unamortized Lease Up Costs") and the calculation of the allocated portion shall be based upon the ratio of the Tenant's Rentable Area in the Contraction Area to the Tenant's Rentable Area in the Building. Landlord shall have the right to lease the Contraction Area to a tenant and for a use not inconsistent with Tenant's use. Landlord and Tenant shall amend this Lease to reflect the contraction of the Demised Premises and the pro rata reduction in Base Rent based on the square footage of the Contraction Area, and to permit joint use of reasonable "common areas" necessary for the new tenant. At Tenant's request, Landlord shall cooperate with Tenant to relocate the loading dock from the Contraction Area to the remainder of the Demised Premises. Landlord will construct such relocated loading dock at Tenant's request and expense; however, T...
Contraction. If the drilling of the well may be avoided, Without other penalty, by contraction of the Unit Area, Unit Operator shall make reasonable effort to effect such contraction with the approval of the Director.
Contraction. In the event that the North Apron at the Brunswick-Golden Isles Airport is not constructed as contemplated on Exhibit “B”, which is attached hereto and made a part hereof by reference, the Apron Parcel shall be automatically revised on Exhibit “A” so as to provide that Lessee is only leasing that portion of the land adjacent to both Parcel B and the North Apron. The rent for the Apron Parcel would then be adjusted in accordance with the terms and amounts set forth herein for the reduced square footage.”
Contraction. If Tenant does not intend to use and occupy up to ----------- ten percent (10%) of the Demised Premises beyond the sixtieth (60th) month, it shall so notify Landlord not less than six (6) months before the aforesaid effective date of said contraction. In that case, Tenant shall quit and surrender up to said ten percent (10%) of the Demised Premises (it being understood that the precise amount and location of such square footage to be so surrendered shall be a leasable unit which shall be mutually determined by Landlord and Tenant) to Landlord on or before the aforesaid effective date of said contraction. Upon such surrender the parties shall promptly enter into an appropriate amendment of the Lease to reduce the Demised Premises, the Fixed Rent, Additional Rent, and all other mutually agreed upon matters.
Contraction. As of September 1, 2009, (the “Effective Date”) the Premises subject to the Lease shall be amended to be the New Premises and Exhibit A attached to the Lease shall be deleted in its entirety and the attached Exhibit A shall be substituted therefor.
Contraction. So long as there is no Event of Default then existing, Landlord hereby grants to Tenant and Tenant shall have the right and options (each, a “Contraction Option”) on the dates set forth below (each, a “Contraction Date”), to reduce the size of the Premises as follows: Date of Contraction Square Feet Floor December 31, 2004 24,431 RSF 18th Floor December 31, 2005 24,431 RSF 17th Floor December 31, 2006 23,291 RSF 16th Floor December 31, 2007 23,139 RSF 15th Floor December 31, 2008 23,139 RSF 14th Floor December 31, 2009 23,139 RSF 19th Floor Tenant shall exercise such rights to reduce the size of the Premises, if at all, by (i) providing Landlord with written notice of Tenant’s election to reduce the size of the Premises at least twelve (12) months prior to the applicable Contraction Date and (ii) specifying in such notice the applicable floor or floors of the Premises (in accordance with the following provisions of this Section 1(c) to be eliminated from the Premises (the “Contraction Space”) and the location of such space (the remaining Premises as reduced by the Contraction Space, herein called the “Premises”). The Contraction Space shall be determined by applying the following rules:
