Expansion Rights. RIDER No. 3 attached to and made a part of the Lease dated March 21, 2003, between FIRST INDUSTRIAL, L.P., as Landlord, and THE WORNICK COMPANY, as Tenant, for Premises located at 4732, 4744 and 0000 Xxxxx Xxxx, Xxxxxxxxxx, Ohio. During such time as this Lease is in effect and provided that Tenant is not in default under this Lease (and no event has occurred with the passage of time or the giving of notice, or both, would constitute a default under this Lease), Tenant shall have the right to lease the immediately adjacent approximately 12,696-25,392 square feet of the Building, as labeled “Expansion Premises” on attached Exhibit A-2 (referred to in this Rider as the “Adjacent Space”), on the terms set forth in this Rider. If an event has occurred that with the passage of time or the giving of notice, or both, would constitute an uncured default under this Lease and Tenant has exercised its expansion option under the terms of this Rider No. 3, Landlord, in its sole discretion, shall have the right to declare such exercise voidable if such event ripens into an uncured default. Tenant’s rights under this Rider are subordinate to any leases of the Adjacent Space (including any rights of first offer and other expansion rights) and options to renew or extend the lease term or any purchase options or agreements concerning the Building or Property that Landlord has entered into as of the Date of Lease. This limited right to expand space shall operate as follows: (i) if and when Landlord receives a bona fide third-party written offer to lease all or any part of the Adjacent Space on terms and conditions that Landlord has determined it is prepared to accept, Landlord shall, prior to accepting such offer, notify Tenant in writing of such offer, together with a statement of the terms and conditions of such offer; (ii) Tenant shall have five (5) days from receipt of Landlord’s notice in which to deliver to Landlord Tenant’s written, unconditional election and agreement to lease the entire Adjacent Space (x) at a base rental rate equal to the base rental rate set forth in the third-party offer; (y) for a term equal to the longer of the then remaining term under this Lease or the term set forth in the third party offer, and (z) otherwise on all the same terms and conditions of this Lease; (iii) if Tenant duly delivers its written, unconditional election and agreement to lease the Adjacent Space, then effective on the first day of the first calendar month immediately foll...
Expansion Rights. So long as Tenant is not then in default beyond any applicable notice and cure period under the terms, covenants and conditions of this Lease, then Tenant shall have the right to lease all (but not just a portion) of that certain space located on the second (2nd) floor of the Building that is contiguous to the portion of the original Premises that is located on the second (2nd) floor of the Building as of the Commencement Date (shown on Exhibit E hereto in its entirety as the “Refusal Space”) at such time as Landlord receives an offer from a third parry to lease the Refusal Space which Landlord is prepared to accept (the “Third Party Offer”). In such a case, Landlord shall give written notice to Tenant of the Third Parry Offer, in all its particulars and Tenant shall have a period of twenty (20) days thereafter in which to exercise Tenant’s right to lease the Refusal Space, failing which Landlord may lease the Refusal Space to such third party on the basis of the Third Party Offer. In the event that such third party does not lease the Refusal Space pursuant to the Third Party Offer, and so long as the conditions set forth in the first sentence of this paragraph are satisfied, then Landlord shall be obligated to follow the foregoing procedure for any subsequent Third Party Offer which it receives. If Tenant exercises its option to include the Refusal Space hereunder, effective on the delivery date specified in the Third Party Offer, the Refusal Space shall automatically be included in the Premises and subject to all of the terms and conditions of the Lease, except as set forth in the Third Party Offer and as follows:
Expansion Rights. After the Initial Closing or the Subsequent Closing, as applicable, Purchaser shall and shall cause its Affiliates to, at the request of Seller, use their commercially reasonable efforts to negotiate in good faith to reach agreement on, and if agreement is reached, execute and deliver, or cause to be executed and delivered, all such documents and instruments (including a co-tenancy agreement, shared facilities agreement or any other agreement providing similar co-tenancy or shared facility rights) as may be necessary for Seller to exercise its Expansion Rights; provided, that (a) all such documents and instruments shall be on terms and conditions mutually agreeable to the parties thereto and no less favorable to Purchaser and its Affiliates than similar arms-length negotiated arrangements, and (b) Purchaser and its Affiliates shall have no obligation to negotiate or enter into any document or instrument which (i) may be in violation of applicable Law, (ii) cause a default or breach of any Contract, Permit or Governmental Approval to which Purchaser or its Affiliates is a party or to which their assets are subject or (iii) have a negative material impact on a Project (as reasonably determined by the Purchaser, after consultation with an independent engineer) unless Seller executes and delivers (or causes to be executed and delivered) a customary build-out agreement in form and substance reasonably satisfactory to Purchaser.
Expansion Rights. Tenant shall have two (2) additional options to expand the Premises, subject to Section 43.01(ii). The first option (“Expansion Option One”) is to expand the Premises by the addition thereto of approximately 16,654 rentable square feet on the 4th floor of Tower III (“Expansion Space One”) and the second option (“Expansion Option Two”) is to expand the Premises by the addition thereto of approximately 5,413 rentable square feet on the 4th floor of Tower III (“Expansion Space Two”). Expansion Space One and Expansion Space Two are designated on Exhibit A-3. In the event Tenant exercises a right of first offer as provided in Article 43 with respect to space within Expansion Space One and/or Expansion space Two, the space that landlord is obligated to deliver hereunder shall be correspondingly reduced. The right to exercise Expansion Option One is subject only to the prior rights of the current tenant thereof to extend or renew its lease thereof pursuant to existing rights contained in its lease as of the date hereof on or before March 31, 2014. The right to exercise Expansion Option Two is subject only to the right of first offer granted to the current tenant of Expansion Space One prior to the date of this Lease. Each option to expand requires notice of the exercise of the option by the applicable Expansion Notice Date (hereinafter defined), time being of the essence, and the space which is the subject of such option to expand shall be delivered by Landlord to Tenant by the applicable Expansion Delivery Date (as hereinafter defined). “Expansion Notice Date” for Expansion Option One is March 1, 2014 and for Expansion Option Two is July 1, 2014. “Expansion Delivery Date” for Expansion Space One is March 1, 2015 and for Expansion Space Two is July 1, 2015. Rent will be payable on the space added by the exercise of Expansion Option One beginning on July 1, 2015. Rent will be payable on the space added by the exercise of Expansion Option Two beginning on November 1, 2015. With respect to expansion space added to the Premises under this Section 42.02, such expansion space shall be leased on all of the terms and conditions of this Lease as amended from time to time, except that (i) the Term for such expansion space shall begin on the applicable Expansion Delivery Date and end on the Termination Date (as the same may be extended or reduced as provided in this Lease), (ii) Base Rent shall be increased by the addition thereto of the Annual Base Rent per Rentable Square...
Expansion Rights. Lessee shall have a continuous and ongoing right of first refusal to lease any contiguous space in the Building that should become available over the Lease term (“Expansion Space”). Lessor shall notify Lessee if Lessor receives a bona fide offer from a third party to lease any Expansion Space. Lessee shall then have ten (10) days after receipt of such notice to elect to lease the Expansion Space. If Lessee does not indicate in writing its agreement to lease the Expansion Space on the terms contained in Lessor’s notice within said ten (10) day period, the Lessor thereafter shall have the right to lease the Expansion Space to a third party terms consistent with fair market rate for comparable office/lab space. If Lessor does not lease the Expansion Space within ninety (90) days after the expiration of said ten (10) business day period, any further transaction shall be deemed a new determination by Lessor to lease the Expansion Space and the provisions of this paragraph shall again be applicable. Lessee’s rejection of any particular offer shall not relieve Lessor of its obligation to again offer any Expansion Space to Lessee at any time that the Expansion Space subsequently becomes available. In the event Lessee’s expansion needs cannot be accommodated within the Building, Lessee shall have the right to relocate anywhere within the Lessor’s local portfolio. In such event, a new five (5) year lease term would be entered into on the same terms and conditions as set forth in this Lease.
Expansion Rights. Landlord grants Tenant certain expansion rights on portions of the Building located on the 8th floor as described in Section 1.3 of the Lease and the remainder of the Building as described in Section 1.4 of the Lease.
Expansion Rights. The parties have designated an area ---------------- ("Expansion Area") on Exhibit D, attached hereto and made a part hereof, --------- which upon Tenant's written election, may be made part of the Premises and which is designated for future construction by Tenant. After Tenant has elected to add the Expansion Area to the Premises, Tenant shall be allowed to construct a building on the Expansion Area provided that all requirements in section 7.1 and 7.2 hereof relating generally to alterations shall apply ------------------- to such construction. Tenant shall be solely responsible for all construction costs, and in the event such construction is expected to cost Five Million Dollars ($5,000,000.00) or more in total aggregate project costs, including soft costs and contingencies, or in the event the Tenant at such time is no longer the Monsanto Company or no longer maintains a market capitalization in excess of One Billion Dollars ($1,000,000,000.00), Tenant shall provide Landlord with security reasonably approved by Landlord at Tenant's sole cost to insure that (i) the construction is completed in accordance with all laws, in a good and workmanlike manner and in accordance with plans and specifications which shall be attached to the lease amendment, (ii) that all costs of construction are promptly paid for and (iii) that no mechanics, materialmens or other liens are filed against the Property. Such security may include without limitation, mechanics lien coverage from a title company, reasonable construction escrows and disbursing agreements with a title company, reasonable payment and performance bonds and/or irrevocable letters of credit. Tenant may construct sufficient parking on the Expansion Area to service the parking needs of any buildings construction on the Expansion Area so that the overall parking ratio on the Property is not reduced. Tenant may construct such additional needed parking on common areas if it cannot be constructed on the Expansion Area provided that all requirements of this section 7.5 are otherwise ----------- satisfied with respect to such parking construction, the area of such parking is approved by Landlord (such approval not to be unreasonably withheld) and such construction does not materially impair or diminish Landlord's development opportunities on the Property. After Tenant's election to add the Expansion Area to the Premises and prior to the commencement of construction on the Expansion Area, Landlord and Tenant shall am...
Expansion Rights. 3 (v) Exhibits................................................................3 2. PREMISES....................................................................3 3.
Expansion Rights. (a) So long as (i) no default exists under this Lease beyond any applicable notice and cure periods, and (ii) this Lease is in full force and effect, Tenant shall have a right, by delivering written notice to Landlord on to prior to the Rent Commencement Date (the “Expansion Notice”) to lease the entire third (3rd) floor of the Building (the “Expansion Premises”).
Expansion Rights. In addition to the Right of First Refusal above, Tenant shall have the right to lease the 1st floor of the Building any time after Lease execution through October 31, 2013 and receive the same pro rata rental rate.
