Expansion Space Term. The Term for Tenant’s lease of the Expansion Space (“Expansion Space Term”) shall commence on the Expansion Commencement Date and shall expire co-terminous with Tenant’s lease of the Existing Premises on July 31, 2016 (the “Expiration Date”).
Expansion Space Term. In accordance with Article 1.3(2) of the Lease, the Commencement Date for Suite 300 shall be sixty (60) days following the date that Landlord delivers possession (as that term is defined in Paragraph A.5 hereof) of Suite 300 to the Tenant (the "300 Commencement Date") and the Commencement Date for Suite 204 shall be forty-five (45) days following the date Landlord delivers possession (as defined in Paragraph A.5 hereof) of Suite 204 to the Tenant (the "204 Commencement Date"). The term for both Suites 204 and 300 shall be coterminous with the term of the Lease and thus shall expire on December 22, 2000, unless extended in accordance with the terms of the Lease (the "Expiration Date"). Subject to the abatement provisions in Paragraph A.5 below, Landlord shall not be liable to Tenant for any damages if Landlord is unable to deliver possession of the applicable Suite to Tenant on or before such applicable Commencement Date for any reason whatsoever (including delays in vacation of Suite 204 by the existing tenant), and such failure shall not affect the validity of the Lease, as amended hereby, nor the obligations of Tenant under the Lease, as amended hereby. The Commencement Date for each such Suite shall be specified by Landlord in a notice ("Notice") to be delivered by Landlord to Tenant, which Notice shall be executed by Tenant and returned to Landlord within five (5) days after Tenant's receipt thereof. Possession by Tenant of any portion of a Suite prior to the applicable Commencement Date therefor shall be subject to all of the provisions of the Lease, as amended hereby, except that it shall not advance or extend such applicable Commencement Date or the Expiration Date.
Expansion Space Term. The period commencing on the 4th Floor Space Commencement Date and expiring on the last day of the eighty seventh (87th) month following the 6th Floor Space Commencement Date (the “Expansion Space Expiration Date” or “ESED”) shall be referred to herein as the “Expansion Space Term.”
Expansion Space Term. The term for the Expansion Space shall commence October 2, 2000 (the "Expansion Space Commencement Date") and shall end on the Expiration Date, unless sooner terminated as provided in the Lease."
Expansion Space Term. The term of Tenant’s lease of the Expansion Space shall commence on the Expansion Commencement Date and shall expire conterminously with Tenant’s leasing of the Existing Premises on May 31, 2023 (“Termination Date”), subject to Tenant’s extension rights in the Lease, which extension rights shall apply to the Existing Premises and the Expansion Space. Landlord may deliver to Tenant an amendment or confirmation memorandum in the form of Exhibit “C” of the Original Lease (confirming the Expansion Commencement Date and other matters), which amendment or confirmation memorandum Tenant shall execute and return to Landlord within five (5) days of receipt thereof.
Expansion Space Term. The Term as to the Expansion Space (the “Expansion Space Term”) shall commence on March 1, 2013 (the “Expansion Space Commencement Date” or “ESCD”), and shall expire on February 29, 2016 (the “Expansion Space Expiration Date”). In no event shall Tenant be released from liability for any amounts owed or defaults that exist under the Amended Lease for the Existing Premises relating to the period prior to the ESCD.
Expansion Space Term. Sublessee’s lease of the Expansion Space shall commence on the Expansion Commencement Date and shall continue until December 31, 2022 (“Expansion Termination Date”). Tenant hereby acknowledges and agrees that Tenant’s lease of the Expansion Space is not coterminus with Tenant’s lease of the Existing Premises. The period from the Expansion Commencement Date through the Expansion Termination Date shall be referred to herein as the “Expansion Space Term.”
Expansion Space Term. On the Expansion Date, the Expansion Space shall be added as part of the Premises for all purposes, except as set forth herein, including the payment of Additional Rent. The Term of the Lease with respect to the Expansion Space shall commence on the Expansion Date and shall be coterminous with the Term of the Lease for the Original Premises and shall therefore expire on March 31, 2020, unless sooner terminated or extended pursuant to the terms of the Lease.
Expansion Space Term. The Lease term for the Expansion Space (the “Expansion Space Term”) shall commence on the Expansion Commencement Date and terminate on July 31, 2012.
Expansion Space Term. As of the date this Lease is executed, Landlord shall determine the "Spread" defined as the difference between the yield on 20-year United States Treasury Bonds on the date this Lease is executed and 9.75%. For the period commencing on the Expansion Commencement Date to the end of the fifth year of the Expansion Space Term, the Expansion Space Rent shall be the annual amount equal to the Expansion Costs (as defined in Section 2A.10 hereof) multiplied by the greater of (i) the sum of the Spread plus the yield on 20-year United States Treasury Bonds on the Expansion Commencement Date or (ii) 9.00%, with such product then being divided by 97.5% to take into account a 2.5% vacancy factor, and then adding a $.05 per square foot structural reserve. Notwithstanding the foregoing sentence, in the event that at the time that Tenant delivers the Expansion Notice to Landlord, the yield on 20-year Treasury Bonds has increased to such an extent that it would be advantageous for Tenant to fund the proposed expansion through other sources available to Tenant, then Tenant, at the time of delivery of such Expansion Notice, shall be given the opportunity to negotiate with Landlord with respect to such other funding of the expansion, provided that an acceptable return for Landlord with respect to the expansion project can be agreed upon by the parties. Based upon the foregoing computations, within seven (7) days after the Expansion Commencement Date, Landlord shall advise Tenant, in writing, of the amount of the Expansion Space Rent and Landlord's calculation thereof as provided above. The Expansion Space Rent shall increase every five (5) years of the Expansion Space Term commencing on the fifth (5th) anniversary date of the Expansion Commencement Date and every five (5) years thereafter by twelve and one-half percent (12 1/2%) over the Expansion Space Rent payable during the immediately preceding five (5) year period. For example, assuming the 20-year Treasury Bond rate on the Lease execution date is 6.94%, and such rate is 8.00% on the Expansion Commencement Date, and the Expansion Costs for a requested 160,000 square foot expansion totaled $4,800,000, the annual Expansion Space Rent for the first five years of the Expansion Space Term would be $540,185.00, calculated as follows: $4,800,000 x (9.75% - 6.94% + 8.00%) / 97.5% + (160,000 x $.05) = $540,185.00
