Expansion Area. As applicable, the area in reasonable proximity to any Premises (each Hub and Inspection Center) may include an area for expansion (“Expansion Area”). Either party may at any time during the Term of this Lease elect to develop the Expansion Area by delivery of written notice to the other party. If Landlord elects to develop the Expansion Area then Tenant shall respond in writing to Landlord’s election within 30 days with Tenant’s election to participate or not participate in the development of the Expansion Area. If Tenant elects in its sole discretion to participate then Tenant shall pay an agreed-upon portion of the actual costs incurred to effect such construction or development (“Expansion Costs”) and Tenant shall be entitled to use an equivalent portion of the Expansion Area as part of the Premises. If Tenant elects to not participate then Tenant shall not pay any of the Expansion Costs and shall not be entitled to use any of the Expansion Area as part of the Premises. If Tenant elects to develop the Expansion Area before receiving Landlord’s election to develop the Expansion Area then Tenant shall deliver written notice to Landlord and Landlord shall respond in writing to Tenant’s election within 30 days with Landlord’s election to participate or not participate in the development of the Expansion Area. If Landlord elects to participate then Landlord and Tenant shall mutually agree upon the use of the Expansion Area and whether Tenant will participate in paying for the actual Expansion Costs or pay additional Base Rent. Tenant shall be entitled to use that portion of the Expansion Area as mutually agreed to by the parties and as part of the Premises in the same manner as if Landlord first elected to develop the Expansion Area and Tenant elected to participate. If Landlord does not elect to participate in Tenant’s development of the Expansion Area then Tenant may elect to develop all or less than all of the Expansion Area and Tenant shall pay the entire actual Expansion Cost incurred but be entitled to use the entire developed Expansion Area as part of the Premises and without Tenant consent Landlord shall not be entitled to use any of the Expansion Area developed by Tenant without Landlord’s participation. If less than all of the Expansion Area is developed then the same rights of development and participation shall continue to apply to the balance of the Expansion Area until the earlier of the development of the entire Expansion Area or expiration o...
Expansion Area. The Second Expansion Area shall be defined as the additional 10,208 square feet of Rentable Floor Area being leased by Tenant located on the 1st floor of the Building, as shown in green on Exhibit "B-4" attached hereto. The Expansion Area shall be included in definition of Demised Premises for all purposes of this Lease when such definition would not be consistent with the specific reference to the First Expansion Area."
Expansion Area. On February 1, 2010 (the “Expansion Commencement Date – Suite 205”) Landlord shall deliver possession to Tenant of certain additional space in the Building known as Suite 205, consisting of three thousand forty-eight (3,048) rentable square feet as shown on Exhibit A – 1 attached hereto and made a part hereof and referred to as the “Expansion Area – Suite 205.” On April 1, 2010 (the “Expansion Commencement Date – Suite 201”) Landlord shall deliver possession to Tenant of certain additional space in the Building known as Suite 201, consisting of ten thousand nine hundred ninety-nine (10,999) rentable square feet as shown on Exhibit A – 2 attached hereto and made a part hereof and referred to as the “Expansion Area – Suite 201” (Expansion Area – Suite 205 and Expansion Area – Suite 201 are collectively referred to as the “Expansion Area”). In addition, Landlord hereby grants Tenant early access to the Expansion Area in accordance with Section 5 of the Work Letter (as defined herein) attached hereto as Exhibit B. Provided that this Amendment has not been terminated by Tenant as set forth herein, from and after the Expansion Commencement Date – Suite 205, and through the remainder of the term of this Lease, the Expansion Area – Suite 205 shall be added to and become a part of the “Premises” governed by the Lease, as amended hereby, thereby increasing the area of the Premises from seventeen thousand eighty eight (17,088) rentable square feet to twenty thousand one hundred thirty-six (20,136) rentable square feet. In addition, and provided that this Amendment has not been terminated by Tenant as set forth herein, from and after the Expansion Commencement Date – Suite 201, and through the remainder of the term of this Lease, the Expansion Area – Suite 201 shall be added to and become a part of the “Premises” governed by the Lease, as amended hereby, thereby increasing the area of the Premises from twenty thousand one hundred thirty-six (20,136) rentable square feet to thirty-one thousand one hundred thirty-five (31,135) rentable square feet. Notwithstanding the two immediately preceding paragraphs of this Section 2, Landlord and Tenant agree that the Base Rent, all charges payable under the Lease which are predicated upon the rentable area of the Premises and the rentable square footage of Expansion Area – Suite 205 and/or Expansion Area – Suite 201 (by which the Base Rent and aforementioned charges are determined) may be adjusted, as necessary, based upon Tenant...
Expansion Area. Effective upon February 1, 2007 (the “Expansion Area Commencement”), Landlord shall deliver, pursuant to the terms of the Work Letter attached hereto, the space commonly referred to as Suite 420, located on the 4th floor of the Building, comprising approximately six thousand five hundred forty-three (6,543) square feet of rentable are (the “Expansion Area”).
Expansion Area. From and after April 1, 1993, the Original Leased Premises consisting of 15,438 square feet of office and warehouse area shall be expanded by an additional 3,997 square feet of office and warehouse area which is contiguous to the Original Lease Premises, all of which is shown on the Floor Plan attached hereto as Exhibit "A." The Expanded premises consisting of 19,435 square feet of office and warehouse area is hereinafter referred to as the "Leased Premises."
Expansion Area. 32 21.25 Consent.........................................................................33 Exhibit A - Legal Description Exhibit B - Site Plan Exhibit C - Footprint of Premises Exhibit D - Subordination, Non-Disturbance and Attornment Agreement INDUSTRIAL SPACE LEASE -- NET THIS LEASE is made this ____ day of ___________, 2000, by and between 4300 Xxxx Xxxxx Xxxxxx XXX, an Ohio limited liability company (hereinafter sometimes referred to as "Landlord"), with offices at 1798 Xxxxxx Xxxxxx, Xxxxxxxx, Xxxx 00000-0000, xxd Shonac Corporation, an Ohio corporation (hereinafter sometimes referred to as "Tenant"), with offices at 1675 Xxxxxxx Xxxx, Columbus, Ohio 43207-1979, who hereby mutually covenant and agree as follows:
Expansion Area. [See Attached] Schedule 1.1 to Divestment Letter Agreement [See Attached] Exhibit A to Divestment Letter Agreement
Expansion Area. If the tenant under the Lease does not exercise its expansion rights and does not participate in the development of the Expansion Area with HF, then HF shall have the right to either purchase the Expansion Area from the Company (if the Expansion Area has not been previously subdivided, all costs required to subdivide the Expansion Space to satisfy the California Subdivision Map Act or any other conveyance requirements shall be the sole cost of HF, and Skechers shall have the right to approve all such subdivision documents, such approval not to be unreasonably withheld or delayed) at its then fair market value, or to enter into a ground lease of the Expansion area at its then fair market rent (which ground lease shall be for a term of not less then twenty (20) years and upon commercially reasonable market terms and conditions). If the parties cannot agree on fair market value or fair market rent, as the case may be, then such amounts will be determined by an appraisal process as follows: Within fifteen (15) days after one party notifies the other that there is no mutual agreement with respect to the determination of fair market value or fair market rent, as the case may be, each party shall appoint an independent appraiser which has at least ten (10) years experience in appraisals of industrial real estate in the Riverside County, California area and who is a member of the Master Appraisers Institute. Each such appraiser shall submit his or her opinion as to the fair market value or fair market rent, as the case may be, within thirty (30) days after appointment. If only one party appoints an appraiser, then his or her opinion as to fair market value or fair market rent, as the case may be, shall be conclusive and binding on both parties. If the opinions of the two appraisers are within ten percent (10%) of each other, then the average of the two appraisals will be conclusive and binding on the parties as to fair market value and fair market rent, as the case may be. If the opinions differ by more than ten percent (10%), then the two appraisers shall appoint a third, independent appraiser (with the same qualifications as above) who shall submit his or her opinion as to the fair market value or fair market rent, as the case may be, within thirty (30) days thereafter, and such opinion shall be conclusive and binding on the parties. If the two (2) appraisers cannot mutually agree upon a third appraiser, then the third appraiser will be selected by an arbitrator...
Expansion Area. The Premises shall be expanded to include an -------------- additional 1,406 square feet all as xxxx particularly shown on the Exhibit ------- E attached hereto and constituting a part hereof (the "Expansion Area"), - which brings to total square footage of the Premises to 5,848 square feet.
Expansion Area. During the period commencing upon February -------------- 15, 2000 and concluding one hundred twenty days (120) thereafter (the "First Expansion Period"), Tenant shall have the right to first negotiate with Owner for Tenant's rental of that portion of the first floor of the Building depicted on Exhibit A-1 (the "Expansion Area"). Following the expiration of the ----------- Expansion Period, Tenant shall the right to first negotiate with Owner for Tenant's rental of the Expansion Area for an additional six (6) calendar months (the "Second Expansion Period"). If Tenant desires to continue its right to first negotiate for the rental of the Expansion Area during the Second Expansion Period, Tenant shall so notify Owner prior to the expiration of the First Expansion Period and Tenant shall pay to Owner the sum of $.50 per square foot of rentable area in the Expansion Area for each month during the period from the commencement of the Second Expansion Period until the earlier of:
(a) the expiration of the Second Expansion Period; (b) the date of Tenant's waiver of its right to first negotiate for the rental of the Expansion Area; or (c) the date of Tenant's rental of all or a portion of the Expansion Area.
