Common use of Expansion Space Leases Clause in Contracts

Expansion Space Leases. Subject to the limitations expressed in Section 10.6, Tenant shall have the right and option (“Expansion Rights”) to lease all or a portion of the space available for leasing in the Properties and in Affiliate Owned Properties as either Coterminous Expansion Space or Short Term Expansion Space, as Tenant may elect, on the terms and conditions set forth in this Article X; provided that all Expansion Space leased (a) during any Renewal Term and (b) in any Affiliate Owned Property shall, regardless of Tenant’s election, be regarded as Short Term Expansion Space. Tenant shall exercise an Expansion Right by written reply to a Landlord Expansion Response (any such timely reply, an “Expansion Space Acceptance”), which shall specify, with particularity, (a) the location, approximate Net Rentable Area and configuration of the space described in the Landlord Expansion Response that Tenant desires to lease, (b) whether Tenant desires to lease such space for a term that is coterminous with the Term of this Lease (“Coterminous Expansion Space”) or for a term of five (5) years (“Short Term Expansion Space”) and (c) whether Tenant agrees with Landlord’s opinion of the Fair Market Value of the space that Tenant desires to lease or if Tenant desires to have the same determined by appraisal as provided in Sections 1.4(d) and (e). All space for which Tenant timely exercises an Expansion Right, either as Coterminous Expansion Space or Short Term Expansion Space, shall be referred to as “Expansion Space”.

Expansion Space Leases. Subject to the limitations expressed in Section 10.6Tenant, Tenant from and after its receipt of any Landlord Expansion Response, shall have the right and option (each, an “Expansion RightsRight”) to lease all hereunder all, or a portion one or more portions, of the space available for leasing Available Leasable Areas identified in such Landlord Expansion Response (the Properties and in Affiliate Owned Properties portions of the Available Leasable Areas as either Coterminous to which Tenant exercises its Expansion Space or Short Term Right being herein called “Expansion Space”), as Tenant may electeither, on the terms and conditions set forth in this Article X; provided that all Expansion Space leased (a) during any Renewal Term and (b) in any Affiliate Owned Property shall, regardless of at Tenant’s election, be regarded (A) on a coterminous basis as Short herein-after provided (any such Expansion Space being herein called “Coterminous Expansion Space”) (provided, that Tenant may not elect to lease Expansion Space on coterminous basis under this clause (A) after the expiration of the fifteenth (15th) Lease Year), or (B) on a short term basis as herein-after provided (any such Expansion Space being herein called “Short-Term Expansion Space”). Tenant shall exercise an Expansion Right by written reply to a Landlord Expansion Response (any such timely replyeach, an “Expansion Space Acceptance”), which shall specify, with particularity, (ai) the Expansion Space, including the location, approximate Net Rentable Area and configuration of the space described in the Landlord Expansion Response that Tenant desires to leasesame, (bii) whether Tenant desires is electing to lease such space for a term that is coterminous with the Term of this Lease (“Expansion Space as Coterminous Expansion Space”) Space or for a term of five (5) years (“Short Short-Term Expansion Space”) , and (ciii) in any case that Tenant elects to lease such Expansion Space as Short-Term Expansion Space, whether or not Tenant agrees with Landlord’s opinion of the Fair Market Value Per RSF of such Expansion Space. Tenant’s right to specify Expansion Space comprising less than all of the space Available Leasable Areas identified in the Landlord Expansion Response shall be qualified by the requirement that Tenant desires may only specify Expansion Space comprised of less than all the Available Leasable Areas on a particular floor of the Building if the portion of the Available Leasable Areas on such floor that is not so specified is of a size and configuration that makes it separately leasable to lease third party tenants. For a period of seven (7) Business Days after its receipt of the Landlord Expansion Response (“Tenant’s Exclusive Period”), Tenant’s Expansion Right shall be an exclusive right or if Tenant desires option (i.e., not subject to have the same determined by appraisal any Third Party Leasing Rights, except as provided in Sections 1.4(dSection 10.4(a) hereof); after Tenant’s Exclusive Period, Tenant’s Expansion Right shall be a non-exclusive right or option (i.e., subject to any Third Party Leasing Rights granted after the end of Tenant’s Exclusive Period and (eprior to the delivery of the Expansion Acceptance). All space for which Tenant timely exercises an Expansion Right, either as Coterminous Expansion Space or Short Term Expansion Space, shall be referred added to as “Expansion Space”.the Leased Premises, upon, subject to, and in accordance with, the provisions:

Expansion Space Leases. Subject to the limitations expressed in Section 10.610.5, Tenant shall have the right and option (“"Expansion Rights”") to lease all or a portion of the available space available for leasing identified in the Properties and in Affiliate Owned Properties Landlord Expansion Response as either Coterminous Expansion Space or Short Term Expansion Space, as Tenant may elect, on the following terms and conditions set forth in this Article Xconditions; provided that all Expansion Space leased (a) during any Renewal Term and (b) in any Affiliate Owned Property shall, regardless of Tenant’s 's election, be regarded as Short Term Expansion Space. Tenant shall exercise an Expansion Right by written reply to a Landlord Expansion Response (any such timely reply, an “"Expansion Space Acceptance”"), which shall specify, with particularity, (a) the location, approximate Net Rentable Area and configuration of the space described in the Landlord Expansion Response that Tenant desires to lease, (b) whether Tenant desires to lease such space for a term that is coterminous with the Term of this Lease (“"Coterminous Expansion Space”") or for a term of five (5) years years, plus renewals (“"Short Term Expansion Space”) "), and (c) whether Tenant agrees with Landlord’s 's opinion of the Fair Market Value of the space that Tenant desires to lease or if Tenant desires to have the same determined by appraisal as provided in Sections 1.4(d) and (e). All space for which Tenant timely exercises an Expansion Right, either as Coterminous Expansion Space or Short Term Expansion Space, shall be referred to as “"Expansion Space”".

Expansion Space Leases. [Note: Five Year Term Separate Leases must be revised to eliminate option of "Coterminous Expansion Space"] Subject to the limitations expressed in Section 10.610.5, Tenant shall have the right and option (“"Expansion Rights”") to lease all or a portion of the available space available for leasing identified in the Properties and in Affiliate Owned Properties Landlord Expansion Response as either Coterminous Expansion Space or Short Term Expansion Space, as Tenant may elect, on the following terms and conditions set forth in this Article Xconditions; provided that all Expansion Space leased (a) during any Renewal Term and (b) in any Affiliate Owned Property shallTerm, regardless of Tenant’s 's election, shall be regarded as Short Term Expansion Space. Tenant shall exercise an Expansion Right by written reply to a Landlord Expansion Response (any such timely reply, an “"Expansion Space Acceptance”"), which shall specify, with particularity, (a) the location, approximate Net Rentable Area and configuration of the space described in the Landlord Expansion Response that Tenant desires to lease, (b) whether Tenant desires to lease such space for a term that is coterminous with the Term of this Lease (“"Coterminous Expansion Space”") or for a term of five (5) years years, plus renewals (“"Short Term Expansion Space”) "), and (c) whether Tenant agrees with Landlord’s 's opinion of the Fair Market Value of the space that Tenant desires to lease or if Tenant desires to have the same determined by appraisal as provided in Sections 1.4(d) and (e). All space for which Tenant timely exercises an Expansion Right, either as Coterminous Expansion Space or Short Term Expansion Space, shall be referred to as “"Expansion Space”".

Expansion Space Leases. Subject to the limitations expressed in Section 10.6, Tenant shall have the right and option (“Expansion Rights”) to lease all or a portion of the space available for leasing in the Properties and in Affiliate Owned Properties as either Coterminous Expansion Space or Short Term Expansion Space, as Tenant may elect, on the terms and conditions set forth in this Article X; provided that all Expansion Space leased (a) during any ________________________________________________________________________________________________________________________ Renewal Term and (b) in any Affiliate Owned Property shall, regardless of Tenant’s election, be regarded as Short Term Expansion Space. Tenant shall exercise an Expansion Right by written reply to a Landlord Expansion Response (any such timely reply, an “Expansion Space Acceptance”), which shall specify, with particularity, (a) the location, approximate Net Rentable Area and configuration of the space described in the Landlord Expansion Response that Tenant desires to lease, (b) whether Tenant desires to lease such space for a term that is coterminous with the Term of this Lease (“Coterminous Expansion Space”) or for a term of five (5) years (“Short Term Expansion Space”) and (c) whether Tenant agrees with Landlord’s opinion of the Fair Market Value of the space that Tenant desires to lease or if Tenant desires to have the same determined by appraisal as provided in Sections 1.4(d) and (e). All space for which Tenant timely exercises an Expansion Right, either as Coterminous Expansion Space or Short Term Expansion Space, shall be referred to as “Expansion Space”.