EXPANSION PROVISION. Must landlord provide additions space? No. If yes, under what conditions? How much space and at what cost? ________________________ Is rent increased? ___________________________If yes, discuss formula: If landlord defaults: Does tenant have the right to cancel? _________________________ to construct & charge cost against existing fixed rent? _____________ percentage rent only? all rent? _________________________________
EXPANSION PROVISION. In the event Lessee find it necessary to expand its operations and requires at least 50% more rentable area than is contained in the Premises, Xxxxxx agrees to work in good faith to help Xxxxxx locate to other premises meeting these space requirements owned by Lessor within Xxxxxxx Park. If Lessor does not have appropriate space within Xxxxxxx Park, Lessor will endeavor to relocate Lessee to any other facility owned by Lessor or a company affiliated with Lessor within a one-mile radius of the Premises. The rental for the new space shall be then market rent for space of similar size, quality and finish with Xxxxxxx Park. The expansion shall otherwise be on terms mutually acceptable to Lessor and Lessee. In no event shall Lessor be required to terminate this Lease in order to relocate Lessee to any place other than another building owned by Lessor an affiliated company, as described above.
EXPANSION PROVISION. During the term, Tenant may give Landlord notice of desire to lease additional or other space, such notice describing the size and location, and other pertinent information regarding the expansion needs of Tenant. If, thereafter, space meeting Tenant's needs becomes available in the Project (or in other Projects owned or managed by Landlord) then Landlord shall promptly notify Tenant of the availability of such space, and at the request of Tenant made within five (5) days of the date of such notice of availability enter into negotiations concerning the lease of such space. If a new lease is negotiated covering space larger than the space leased under this Lease, Landlord will agree, at the request of Tenant, to terminate the lease effective as of the date of such new lease. Landlord and Tenant shall negotiate the rent and other terms of any lease of any applicable expansion space in good faith at a rent level, and under other terms, substantially similar to that leased to other Tenants in the Project of which the expansion space is a part during the nine (9) month period prior to Landlord's notice to Tenant that such expansion space is available. If Tenant and Landlord do not successfully negotiate a lease within thirty (30) days of commencement of negotiations, Landlord shall not be obligated in any way to terminate Tenant's lease, nor shall Landlord be liable to Tenant for leasing the applicable expansion space to a third party whether under the same or more favorable terms than that offered to the Tenant. This paragraph 52 shall be of no further force and effect in the event of a Sale by Landlord as provided in paragraph 28. The successor owner shall not be obligated to offer any additional space or terminate this lease in any manner.
EXPANSION PROVISION. If, after 30 months from the date of lease commencement, VAXA INTERNATIONAL, INC. requirement for space grows to 70,000 sq. ft. and there is not available space in the building contiguous to the subject building (10309 Pacific Center Court) of a minimum of 20,335 sq. ft., Lessor agrees to make a good faith effort to provide, in the Pacific Corporate Center, either an existing facility or a build-to-suit facility, not less than 70,000 sq. Fax transmittal.
EXPANSION PROVISION. In the event Lessee requires at least fifty (50%) percent more space (45,000 square feet) which space cannot be provided by Lessor in subject building within a reasonable time period, then Lessor shall construct a new facility in the Hegan Lane Business Park and cancel subject lease. Term of new lease to be at least ten (10) years. This provision is subject to availability of land in Hegan Lane Business Park and mutually acceptable terms and conditions of new lease.
