Expansion Premises Term Clause Samples
The Expansion Premises Term clause defines the duration for which additional or expansion premises are leased under a commercial lease agreement. Typically, this clause specifies the start and end dates for the lease of the expansion space, which may differ from the original premises' lease term, and may include provisions for renewal or early termination specific to the expansion area. By clearly outlining the timeframe for the expansion premises, this clause ensures both parties understand their rights and obligations regarding the use and occupancy of the additional space, thereby preventing disputes over lease periods and facilitating smooth business growth.
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Expansion Premises Term. The term of Tenant’s lease of the Expansion Premises shall commence on the date (the “Expansion Premises Commencement Date”) of Landlord’s delivery of the Expansion Premises to Tenant for occupancy upon Substantial Completion (as such term is defined in Construction Rider attached to this Second Amendment as Exhibit B and incorporated herein) of Tenant Improvements in the Expansion Premises (as set forth in Exhibit B), and shall expire coterminously with Tenant’s lease of the Existing Premises on the Lease Expiration Date (i.e., March 31, 2021), unless sooner terminated as provided in the Lease, as hereby amended. Landlord and Tenant anticipate that the Expansion Premises Commencement Date will occur on or prior to May 1, 2017 (the “Anticipated Expansion Premises Commencement Date”). In the event the Expansion Premises Commencement Date occurs later than the Anticipated Expansion Premises Commencement Date for any reason, neither Landlord nor Landlord’s representatives shall be liable to Tenant for any claims, damages or liabilities resulting from any such delay, and the Lease shall remain in full force and effect; provided, however, in the event the Expansion Premises are not delivered to Tenant for occupancy by May 15, 2017 (the “Outside Date”), for any reason other than Tenant Delay (as such term is defined in Exhibit B herein), Tenant may elect to terminate this lease of the Expansion Premises upon not less than ten (10) days prior written notice to Landlord, and Landlord shall, upon expiration of such ten (10) day period, return to Tenant the Security Deposit, which Tenant provided to Landlord in accordance with Section 7.1 herein. When the Expansion Premises Commencement Date has been established, Landlord and Tenant shall, at the request of either party, confirm the Expansion Premises Commencement Date and Expansion Premises Expiration Date in writing; provided, however, that the failure of Tenant to execute such confirmation shall not affect the determination of the Expansion Premises Commencement Date.
Expansion Premises Term. The term of the Lease with respect to the ----------------------- Expansion Premises shall commence on September 6, 1997 (the "Expansion Commencement Date:"), and shall expire on December 31, 1997 (the "Expansion Premises Term"). Upon the expiration of the Expansion Premises Term, Lessee shall vacate and surrender the Expansion Premises in accordance with the terms and provisions of the Lease with no rights to holdover or extend the Expansion Premises Term.
Expansion Premises Term. The term for the Third Expansion Premises shall run co-terminously with the Lease Term for the Original Premises, as extended hereby (the “Third Expansion Premises Expiration Date”). The period from the Third Expansion Premises Commencement Date to the Third Expansion Premises Expiration Date shall be known as the “Expansion Term”.
Expansion Premises Term. The term of the Lease for the Expansion Premises shall commence on the Expansion Premises Commencement Date and shall continue for ninety (90) days thereafter (the “Expansion Premises Term”), whereupon the Term shall continue on a month-to-month basis, terminable by either party by delivering to the other at least thirty-days prior written notice of the proposed termination date, which termination date shall be the end of a calendar month. If for any reason whatsoever, Landlord cannot deliver possession of the Expansion Premises to Client on or before the Expansion Premises Commencement Date, the Lease, as amended by this Second Amendment, shall not be void or voidable, nor shall Landlord, or Landlord’s agents, advisors, employees, partners, shareholders, directors, invitees, independent contractors or Landlord’s Investment Advisors (as defined in the Lease), be liable to Client for any loss or damage resulting therefrom. Client shall not be liable for Annual Basic Rental with respect to the Expansion Premises until Landlord delivers possession of the Expansion Premises to Client.
Expansion Premises Term. The term of the Lease with respect to the Expansion Premises shall commence on October 1, 2019 (the “Expansion Premises Commencement Date”), and shall expire on March 31, 2021 (the “Expansion Premises Term”). Tenant shall have the option to extend the Expansion Premises Term for a period one (1) year (the “Expansion Premises Extension Option”), commencing on April 1, 2021 through March 31, 2022 (the “Expansion Premises Extension Term”). Tenant may exercise its right to extend the Expansion Premises Term by providing written notice to Landlord not earlier than twelve (12) months and no later than six (6) months prior to the end of the current Expansion Premises Term. Notwithstanding the foregoing, with respect to the Expansion Premises only, Landlord shall have the right to terminate the Lease at any time during the Expansion Premises Extension Term, effective on the date specified in Landlord’s written notice to Tenant, which date shall be at least six (6) months after the date of such notice and shall be no earlier than October 1, 2021. In the event of such termination, the parties shall have no further obligations to each other, except for those which expressly survive termination. Tenant shall have the right to occupy the Expansion Premises commencing one (1) business day after the full execution of this Amendment for the sole purpose of painting, carpeting, constructing improvements, and installing its equipment, data, telecommunications systems and trade fixtures. Such occupancy prior to the Expansion Premises Commencement Date shall be subject to all of the terms of the Lease (including, without limitation, Tenant’s obligation to provide insurance certificates to Landlord) except the obligation to pay rent.
Expansion Premises Term. The term of the Lease for the Expansion Premises shall commence on the Expansion Premises Commencement Date and shall continue for five (5) full years thereafter (the “Expansion Premises Term”). If for any reason whatsoever, Landlord cannot deliver possession of the Expansion Premises to Client on or before the Expansion Premises Commencement Date, the Lease, as amended by this First Amendment, shall not be void or voidable, nor shall Landlord, or Landlord’s agents, advisors, employees, partners, shareholders, directors, invitees, independent contractors or Landlord’s Investment Advisors (as defined in the Lease), be liable to Client for any loss or damage resulting therefrom. Client shall not be liable for Annual Basic Rental with respect to the Expansion Premises until Landlord delivers possession of the Expansion Premises to Client.
Expansion Premises Term. The term for the Second Expansion Premises shall run co-terminously with the Lease Term for the Original Premises, as extended hereby (the “Second Expansion Premises Expiration Date”). The period from the Second Expansion Premises Commencement Date to the Second Expansion Premises Expiration Date shall be known as the “Expansion Term”.
Expansion Premises Term. The Term of the Lease with respect to the Expansion Premises shall commence on the Expansion Premises Commencement Date and shall expire on March 31, 2010.
Expansion Premises Term. Tenant shall have and hold the Expansion Premises for a term of five (5) years commencing May 1, 1993 and expiring April 30, 1998 (the "Expansion Premises Term").
Expansion Premises Term. The term of the Expansion Premises shall commence on the Expansion Commencement Date and, unless sooner terminated in accordance with the terms and conditions of the Lease, shall expire on the Expiration Date (the “Expansion Term”). As used in the Lease, the definition of “Term” shall include the Expansion Term.