Expansion Amendment. If Tenant exercises an expansion option under Section 41.01 and/or Section 42.02, Landlord shall prepare an amendment (an “Expansion Amendment”) adding the applicable expansion space to the Premises on the terms set forth above and reflecting the changes in the Base Rent, Rentable Square Footage of the Premises, Tenant’s Proportionate Share of Taxes and Tenant’s Proportionate Share of Expenses and other appropriate terms. A copy of the Expansion Amendment shall be sent to Tenant and, subject to Landlord and Tenant agreeing upon any reasonable changes requested by Tenant, Tenant shall execute and return the expansion Amendment to Landlord within thirty (30) days thereafter, and Landlord shall deliver a copy thereof executed by Landlord to Tenant, but an otherwise valid exercise of an expansion option shall be fully effective, whether or not an Expansion Amendment is executed.
Expansion Amendment. After receipt of the Exercise Notice, Landlord and Tenant shall enter into an amendment of the Lease “Expansion Amendment” acceptable to Landlord and Tenant. Such Expansion Amendment shall provide that from and after the applicable date on which the Refusal Space is leased by Tenant, as set forth in the Third Party Offer (“Expansion Commencement Date”), the Lease shall be deemed modified as follows.
(i) Base Rent for the Refusal Space shall be as set forth in the Third Party Offer;
(ii) Tenant’s Share applicable to the Refusal Space shall be a fraction, the numerator of which shall be the number of rentable square feet in the Refusal Space and the denominator of which shall be the number of rentable square feet in the Building (as both shall be reasonably determined by Landlord utilizing the same methodology as used to measure the Premises);
(iii) Tenant shall accept the Refusal Space in the time, condition and manner described in the Third Party Offer;
(iv) Tenant’s lease of the Refusal Space shall be for the term set forth in the Third Party Offer (provided, however, if the term of the Refusal Space is shorter than the term of the Premises, or if the term of the Premises is shorter than the term of the Refusal Space, Tenant may elect to extend the term of the Refusal Space or Premises by simultaneous written notice to Landlord so the term of both the Refusal Space and the Premises are coterminous, and the Fair Market Base Rent shall be determined in accordance with Section 2 above);
(v) All other applicable terms and conditions of the Third Party Offer shall modify the Lease; and
(vi) For all purposes under the Lease, other than for the applicable calculations set forth above, the term “Premises” shall be deemed to include the Refusal Space.
Expansion Amendment. If Subtenant is entitled to and properly exercises the Expansion Option, Sublandlord shall prepare an amendment (the "Expansion Amendment") to reflect the commencement date of the term for the Expansion Space and the changes in Base Rent, rentable area of the Subleased Premises, Subtenant's Percentage Share, the improvement allowance and Rent abatement described in Section 6(d) above, if applicable and other appropriate terms. A copy of the Expansion Amendment conforming to the terms of this Section 6 shall be (i) sent to Subtenant within a reasonable time after receipt of the Expansion Notice (not to exceed thirty (30) days, and (ii) executed by Subtenant and Sublandlord within thirty (30) days thereafter. However, if Subtenant has delivered an Expansion Notice, Subtenant will be irrevocably bound to lease the Expansion Space from Sublandlord on the terms set forth herein regardless of whether Subtenant or Sublandlord timely execute and deliver an Expansion Amendment.
Expansion Amendment. After receipt of an Exercise Notice, Landlord and Tenant shall enter into an amendment ("Expansion Amendment") of this Lease acceptable to Landlord. Such Expansion Amendment shall provide that from and after the applicable date on which the Expansion Space is demised to Tenant on the date which is the earlier of (i) the date the Expansion Space, or any portion thereof, is Ready for Tenant (each on "Expansion Space Commencement Date"), this Lease shall be deemed modified as follows:
Expansion Amendment. Notwithstanding the fact that Tenant’s lease of the Basement Put Premises shall be self-executing, as aforesaid, Tenant hereby agrees to execute a lease amendment confirming the lease of the Basement Put Premises to Tenant consistent with the provisions of this Section 3.4(D).
Expansion Amendment. Notwithstanding the fact that Tenant’s lease of the any Portion of the Currently-Committed Put Premises shall be self-executing, as aforesaid, Tenant hereby agrees to execute a lease amendment accurately reflecting the applicable Portion of the Currently-Committed Put Premises within a reasonable time after it shall have received the same from Landlord, confirming the lease of such Portion of the Currently-Committed Put Premises to Tenant.
Expansion Amendment. After receipt of the Exercise Notice, Landlord and Tenant shall enter into an amendment (“Expansion Amendment”) of this Lease setting forth the Expansion Space. Such Expansion Amendment shall provide that from and after the applicable date on which the Expansion Space is leased to Tenant (“Expansion Commencement Date”), this Lease shall be deemed modified as follows: IF THE EXPANSION COMMENCEMENT DATE OCCURS ON OR BEFORE THE FIRST ANNIVERSARY OF THE COMMENCEMENT DATE, THEN:
(1) the term “Premises” shall be deemed to include the Expansion Space;
(2) the Monthly Base Rent payable for the Expansion Space shall be an amount determined by multiplying the number of rentable square feet in the Expansion Space times the applicable square foot rate for monthly Base Rent contained in the Basic Lease Provisions in effect from time to time during the Term;
(3) Tenant's Proportionate Share shall be increased (from and after the Expansion Commencement Date) by a percentage equal to the actual number of rentable square feet in the Expansion Space divided by the number of rentable square feet in the Building;
(4) Tenant shall accept the Expansion Space “as is” (subject to the same requirements with respect to the initial Premises set forth herein); and
(5) Landlord shall contribute to the planning and construction of the initial alterations and improvements to such Expansion Space in an amount equal to the lesser of (i) $28.00 multiplied by the number of rentable square feet in the Expansion Space, the product of which shall be multiplied by a fraction, the numerator of which shall be the number of months between the Expansion Commencement Date and the Expiration Date and the denominator of which shall be sixty-six (66) (which is the number of months in the Term), or (ii) the actual cost and expense of such initial alterations and improvements. IF THE EXPANSION COMMENCEMENT DATE OCCURS AFTER THE FIRST ANNIVERSARY OF THE COMMENCEMENT DATE, THEN:
(1) the term “Premises” shall be deemed to include the Expansion Space;
(2) the Monthly Base Rent payable for the Expansion Space shall be an amount agreed upon by Landlord and Tenant (which the parties shall negotiate in good faith for a period not to exceed ten (10) business days, and if the parties shall fail to agree on an amount, then the Monthly Base Rent shall be the Market Rental Rate as determined in Rider Section 5 below);
(3) Tenant's Proportionate Share shall be increased by a percentage equal to the actual number of re...
Expansion Amendment. If Tenant timely provides an Exercise Notice, Landlord promptly shall prepare and Landlord, and Tenant shall enter into, an amendment to the Lease (“Expansion Amendment”), reasonably acceptable to Landlord and Tenant, based on the terms and conditions contained in the Third Party Offer and the Third Party Offer Notice, and the Premises shall be adjusted accordingly; provided, that the term with respect to any Refusal Space shall be coterminous with the Term, and any economic concessions or terms shall be equitably adjusted to take into account such shorter term.
Expansion Amendment. If Tenant is entitled to and properly exercises the Expansion Option, Landlord shall prepare an amendment (the “Expansion Amendment”) to reflect the commencement date of the term for the Future Expansion Space and the changes in Base Rent, rentable square footage of the Premises, Tenant’s Pro Rata Share and other appropriate terms. A copy of the Expansion Amendment shall be sent to Tenant within a reasonable time after Landlord’s receipt of the Expansion Notice, and Tenant shall execute and return the Expansion Amendment to Landlord within fifteen (15) days thereafter. The terms of such Expansion Amendment shall not be effective until such Expansion Amendment has been executed by both Landlord and Tenant, provided, however, that an otherwise valid exercise of the Expansion Option shall be fully effective whether or not the Expansion Amendment is executed.
Expansion Amendment. Upon Landlord’s timely receipt of Tenant’s Expansion Notice, Landlord and Tenant shall enter into an amendment to the Lease (an “Expansion Amendment”), as reasonably approved by Landlord and Tenant, to provide for the construction and leasing of the Building Addition for which Tenant has given its notice.
