Expansion in the Project Sample Clauses

Expansion in the Project. Tenant shall have the one-time right, commencing on the Commencement Date and exercisable on or before March 31, 2011 (“Expansion Right Expiration Date”), to elect to expand the original Premises (the “Expansion Right”) to include the balance of the western half of the first floor of the Building, containing approximately 13,000 rentable square feet, as more particularly described on Exhibit J (“Expansion Space”), upon the terms and conditions contained in this Section. If Tenant elects to exercise the Expansion Right, Tenant shall, on or before the Expansion Right Expiration Date, deliver written notice to Landlord of its election to exercise the Expansion Right (“Expansion Exercise Notice”). If Tenant elects to lease the Expansion Space by delivering an Expansion Exercise Notice prior to the Expansion Right Expiration Date, Tenant shall be deemed to agree to lease the Expansion Space on the same terms and conditions as this Lease, except that the terms of this Lease shall be modified as follows effective as of the ES Commencement Date (as defined below): (i) the definition of Premises shall be amended to include the Expansion Space; (ii) the Base Term of the Lease with respect to the original Premises and the Expansion Space shall be amended to end 54 months from the earlier of Substantial Completion (as defined in the Expansion Space Work Letter attached hereto as Exhibit K) by Landlord of the Expansion Space Tenant Improvements (as defined in the Expansion Space Work Letter) or the date Landlord could have delivered the Expansion Space but for Tenant Delays (as defined in the Expansion Space Work Letter)(“ES Commencement Date”); (iii) Tenant shall continue to pay Base Rent for the original Premises as provided for in this Lease and, in addition thereto, beginning on the ES Commencement Date, Tenant shall pay Base Rent for the Expansion Space at the then current monthly Base Rent per rentable square foot payable for the original Premises (as the same is adjusted from time to time pursuant to Section 4 of this Lease); (iv) with respect to the Base Rent payable by Tenant for the Expansion Space, Tenant shall only be required to pay Base Rent with respect to only 50% of the Expansion Space commencing on the ES Commencement Date through the expiration of the 12th month following the ES Commencement Date and Tenant shall commence paying Base Rent with respect to the entire Expansion Space on the first day of the 13th month following the ES Commencement Date;...
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Expansion in the Project. Tenant shall have the right, but not the obligation, to expand the Premises (“Project Expansion Right”) to include any Project Expansion Space (as defined below) in the Project upon the terms and conditions in this Section. For purposes of this Section, “Project Expansion Space” means any space in the Project containing at least 50,000 rentable square feet of contiguous space in Building B that is not occupied by a tenant or that is occupied by an existing tenant whose lease is expiring within 6 months or less and such tenant does not wish to renew (whether or not such tenant has a right to renew) its occupancy of such space. Landlord shall, when the availability of the Project Expansion Space becomes known (but not earlier than 180 days before such availability), deliver to Tenant written notice (“Project Expansion Notice”) of the Project Expansion Space. The Project Expansion Notice shall set forth the terms and conditions on which Landlord is prepared to lease the Project Expansion Space. The rental terms for the Project Expansion Space shall be the fair market rent, including market concessions (collectively, “Project Expansion Space FMR/Concessions”) as mutually determined by Landlord and Tenant, and the Project Expansion Notice shall set forth Landlord’s proposed Project Expansion Space FMR/Concessions. Tenant shall respond to the Project Expansion Notice within 10 business days after receipt thereof, which response shall state that Tenant (1) declines to lease the Project Expansion Space, (2) agrees to lease the Project Expansion Space on the terms set forth in the Project Expansion Notice (including the Project Expansion Space FMR/Concessions), in which event Landlord and Tenant shall within a period of 15 days thereafter execute and deliver an amendment to this Lease or a lease agreement for the Project Expansion Space, or (3) desires to lease the Project Expansion Space but in good faith disagrees with the proposed Project Expansion Space FMR/Concessions, in which event Landlord and Tenant shall, for a period of up to 15 days, negotiate in good faith for Tenant’s lease of the Project Expansion Space on mutually acceptable Project Expansion Space FMR/Concessions. If Landlord and Tenant are unable to agree on the Project Expansion Space FMR/Concessions within such 15 day period after negotiating in good faith, the parties shall proceed to arbitration as set forth below.
Sample 1
Expansion in the Project. Subject to the provisions of this Section 39, Tenant shall have the right, but not the obligation, on or before December 31,2018 ("Expansion Right Expiration Date") to expand the Premises (the "Expansion Rights") to include the to be constructed buildings (including any related subterranean parking) contemplated on the project site plan attached hereto as Exhibit H ("Project Site PIan") as (i) Building 7, which Landlord currently contemplates will contain 4 floors and a total of approximately 195,000 rentable square feet of laboratory and/or office space ("Building 7'), (ii) Building 8, which Landlord currently contemplates will contain 4 floors and a total of approximately 198,000 rentable square feet of laboratory and/or office space ("Building 8"), and (iii) Building 9, which Landlord currently contemplates will contain 1 floor and a total of approximately 6,800 rentable Equare feet for an amenity building ("Building 9"), all upon the terms and conditions in this Section 39; provided, however, that all of the Expansion Requirements (as defined below) are met each time Tenant exercises an Expansion Right. Xxxxxxxx 0, Xxxxxxxx 0 and Building 9 shall each be individually referred to herein as an "Expansion Building" and collectively as the "Expansion Buildings". 13. 70828ss36.12 ,^ C{pyrighr @ 2m5, Aiexandrir Rrll l$taB Iquitic; lno. A1l(I)
Sample 1
Expansion in the Project. Tenant shall have the right, but not the obligation, to expand the Premises (the “Expansion Right”) to include any space in the Project (the “Expansion Space”) upon the terms and conditions in this Section. If a vacancy occurs, Landlord shall deliver to Tenant written notice (the “Expansion Notice”) of the availability of such portion of the Expansion Space, together with the terms and conditions on which Landlord is prepared to lease to Tenant such portion of the Expansion Space. Provided that no prior right to expand is exercised by any of Fxxx Xxxxxxxxxx Cancer Research Center, Corixa or The Hope Heart Institute, or Xcyte Therapies, Inc., Tenant shall have 10 business days following delivery of the Expansion Notice to deliver to Landlord written notification of Tenant’s exercise of the Expansion Right. Provided that no right to expand is exercised by any tenant with superior rights, Tenant shall be entitled to lease such Expansion Space upon the terms and conditions set forth in the Expansion Notice.
Sample 1

Related to Expansion in the Project

  • Project The Land and all improvements thereon, including the Building, the Parking Facilities, and all Common Areas.

  • Premises Building Project and Common Areas 1.1 Premises, Building, Project and Common Areas.

  • Property Insurance Building Improvements and Rental Value 9.2.1 Lessor shall obtain and keep in force a policy or policies of insurance in the name of Lessor, with loss payable to Lessor, any ground-lessor, and to any Lender insuring loss or damage to the Premises. The amount of such insurance shall be equal to the full insurable replacement cost of the Premises, as the same shall exist from time to time, or the amount required by any Lender, but in no event more than the commercially reasonable and available insurable value thereof. If the coverage is available and commercially appropriate, such policy or policies shall insure against all types of direct physical loss or damage (except the perils of flood and/or earthquake unless required by a Lender), including coverage for debris removal and the enforcement of any Applicable Requirements requiring the upgrading, demolition, reconstruction or replacement of any portion of the Premises as the result of a covered loss. Said policy or policies shall also contain an agreed valuation provision in lieu of any coinsurance clause, waiver of subrogation, and inflation guard protection causing an increase in the annual property insurance coverage amount by a factor of not less than the adjusted U.S. Department of Labor Consumer Price Index for All Urban Consumers for the city nearest to where the Premises are located. Lessee Owned Alterations and Utility Installations, Trade Fixtures, and Lessee’s personal property shall be insured by Lessee not by Lessor unless the item in question has become the property of Lessor under the terms of this Lease.

  • Landlord's Improvements All fixtures, improvements or equipment which are installed, constructed on or attached to the Premises or Common Area by Landlord shall be a part of the realty and belong to Landlord.

  • Development of the Project The Board of Managers shall take such actions as shall be required to cause either the Company or the Management Company (as defined in Section 9(b) below) to perform and complete the construction and other development work as contemplated and/or required under the NVR Purchase and Sale Agreements, or any other construction company selected by the Board of Managers (the “Development Work”), substantially in accordance with the Project Plan, at a cost to the Company not exceeding the total cost set forth in the Budget, in a manner consistent with this Agreement and all applicable laws, ordinances, rules, regulations or requirements (including, without limitation, those with respect to discrimination) of governmental authorities, and in compliance with any covenants, conditions or restrictions affecting all or any portion of the Property.

  • Construction In First Offer Space Tenant shall take the First Offer Space in its “as is” condition, subject to any improvement allowance granted as a component of the Fair Rental Value, and the construction of improvements in the First Offer Space shall comply with the terms of Article 8 of this Lease.

  • Expansion Premises In addition to the Original Premises, commencing on the Expansion Premises Commencement Date (as defined below), Landlord leases to Tenant, and Tenant leases from Landlord, the Expansion Premises.

  • Completion of the Project (a) The completion of the Project shall be evidenced to the Trustee by a certificate signed by the Project Supervisor on behalf of the User stating that (1) construction of the Improvements has been completed in accordance with the plans and specifications approved by the User, (2) the Equipment has been acquired and installed in accordance with the User's instructions, (3) all Project Costs have been paid, and (4) all facilities and improvements necessary in connection with the Project have been acquired and installed and all costs and expenses incurred in connection therewith have been paid. Notwithstanding the foregoing, such certificate shall state that it is given without prejudice to any rights against any vendor, contractor, subcontractor or other person not a party to this Lease Agreement which exist at the date of such certificate or which may subsequently come into being. The Issuer and the User will cooperate in causing such certificate to be furnished to the Trustee.

  • Office Space, Equipment and Facilities Provide such office space, office equipment and office facilities as are adequate to fulfill the Adviser’s obligations hereunder.

  • Construction of the Project The Corporation hereby represents that it has caused the Project to be completed and acknowledges that it shall not be entitled to any reimbursement for the cost of construction of the Project from the Authority, the Trustee or the Holders of the Bonds, nor shall it be entitled to any diminution or postponement of the payments required to be paid by the Corporation pursuant to this Participation Agreement or the Corporation Obligations. Section 3.04.

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