Common use of First Expansion Option Clause in Contracts

First Expansion Option. The "First Expansion Option" is an option to include within the Demised Premises that area (the "First Expansion Space") shown on Exhibit "B-4". The "First Expansion Option Exercise Deadline" is the last day of August, 1995. The "First Expansion Rentable Floor Area" is hereby conclusively agreed by the parties to be 10,208 square feet. The "First Expansion Option Rent Commencement Date" shall be the earlier of (i) the date of occupancy of any portion of the First Expansion Space or (ii) 120 days following the delivery of the First Expansion Option Exercise Notice (as defined below) to Landlord; provided, however, if occupancy is delayed solely due to Landlord's failure to approve or disapprove the plans and specifications and contractors (if Tenant has elected to do the Expansion Space Construction itself), submitted by Tenant, within ten (10) days of Landlord's receipt thereof or, if Landlord is doing the Expansion Space Construction, due to Landlord's failure to promptly commence and diligently pursue to completion as soon as reasonably possible the improvements described in Tenant's plans and specifications (but it is clearly agreed that such 120-day period shall not be extended even if the construction is not substantially complete by the expiration of that period so long as Landlord promptly commenced and diligently pursued such construction), the "120 days" immediately above shall be increased by the number of days of delay attributable to such failures by Landlord (each such day of delay caused by Landlord's failure with respect to either matter described above is herewith referred to as "Landlord Delay"). The "Construction Allowance" for the First Expansion Space shall be equal to $4.50 (i) multiplied by the number of whole months remaining in the 120-month Lease Term after the First Expansion Option Rent Commencement Date, (ii) divided by 120 and (ii) multiplied by the First Expansion Rentable Floor Area.

First Expansion Option. The "A. Subject to and upon the terms, provisions and conditions set forth in this Section 52, Tenant shall have, and is hereby granted, the one-time option (the “First Expansion Option" is an option ”) to include within cause Landlord to construct on the Demised Premises that area land identified as “Phase 2” in Exhibit I attached hereto (the "First Expansion Space") shown on Exhibit "B-4". The "“First Expansion Option Exercise Deadline" is the last day of AugustLand”), 1995. The "First Expansion Rentable Floor Area" is hereby conclusively agreed by the parties and to be 10,208 lease from Landlord, certain new improvements to contain not more than thirty-four thousand (34,000) square feet. The ", which improvements may be additions to or expansions of the Building and/or the Improvements (such First Expansion Option Rent Land and improvements, the “First Expansion Option Premises”). Tenant may exercise the First Expansion Option by written notice delivered to Landlord at any time prior to the sixth (6th) anniversary of the Commencement Date" ; provided, however, that if Tenant exercises the First Expansion Option at any time after the third (3rd) anniversary of the Commencement Date, it shall be a condition to the effectiveness of such exercise that Tenant simultaneously exercise the first Renewal Option and extend the term for an additional five (5) year period. If Tenant does not exercise the First Expansion Option by the required time period, the First Expansion Option shall be waived. B. The First Expansion Options may be exercised only if, at the time of such exercise and at the time of Landlord’s delivery of the First Expansion Option Premises to Tenant (a) no Event of Default exists and (b) Tenant is in possession of and operating from the entire Leased Premises (unless Landlord, in its sole discretion, elects to waive such condition(s)). If such condition(s) are not satisfied or waived by Landlord, any purported exercise of the First Expansion Option shall be null and void. C. If Tenant elects to exercise the First Expansion Option, the First Expansion Premises shall be subject to all of the terms, covenants and conditions of this Lease, except that Base Rent for the First Expansion Premises shall be determined in accordance with the terms of Section 50 above for the Prevailing Market Rental Rate applied, mutatis mutandis, for the determination of such Base Rent; provided, however, that in no event shall the Prevailing Market Rental Rate be less than an amount that will cause Landlord to recover its costs and expenses to acquire the First Expansion Option Land (including, but not limited to, closing and other typical acquisition costs such as title insurance and environmental studies), to construct the First Expansion Option Premises (including, but not limited to, hard costs, soft costs, contractor’s fees and costs and fees paid or incurred for architect, engineering, permitting, and other related and similar costs), to finance one hundred percent of each of the foregoing (including, but not limited to, interest and fees) and to recover costs which were, in the reasonable judgment of Landlord, necessary for the efficient and proper development of the project and to protect Landlord’s interests therein. Tenant’s obligation to pay the rent for the First Expansion Premises shall commence on the date (the “First Expansion Rental Commencement Date”) that is the earlier to occur of (i) the date of occupancy of that is thirty (30) days after the date on which Tenant commences operations from any portion of the First Expansion Space Premises or (ii) 120 the date that is thirty (30) days following after the delivery date on which Substantial Completion with respect to the First Expansion Option Premises occurs. D. If Tenant exercises the First Expansion Option, Landlord and Tenant agree that the terms and conditions of this Lease Agreement governing the development, construction and acceptance of the Improvements, including, without limitation, Exhibit D, will apply, mutatis mutandis, to the development, construction and acceptance of the First Expansion Option Exercise Notice (as defined below) to LandlordPremises; provided, however, if occupancy is delayed solely due to Landlord's failure to approve or disapprove the plans and specifications and contractors (if Tenant has elected to do the Expansion Space Construction itself)that, submitted by Tenant, within ten (10) days of Landlord's receipt thereof or, if Landlord is doing the Expansion Space Construction, due to Landlord's failure to promptly commence and diligently pursue to completion as soon as reasonably possible the improvements described in Tenant's plans and specifications (but it is clearly agreed that such 120-day period shall not be extended even if the construction is not substantially complete by the expiration of that period so long as Landlord promptly commenced and diligently pursued such construction), the "120 days" immediately above shall be increased by the number of days of delay attributable to such failures by Landlord (each such day of delay caused by Landlord's failure with respect to either matter described above is herewith referred to as "Landlord Delay"). The "Construction Allowance" for the First Expansion Space Option, the Target Date shall be equal to $4.50 (i) multiplied by the number date that is a reasonable outside date for completion of whole months remaining in the 120-month Lease Term after the First Expansion Option Rent Commencement Date, (ii) divided by 120 and (ii) multiplied by the First Expansion Rentable Floor Area.proposed improvements given

First Expansion Option. The "Tenant shall have the option (the “First Expansion Option" ”) to lease between 4,250 and 5,750 rentable square feet of the Building with a commencement date of between the 66th and 81st calendar months after the Early Occupancy Date of the Lease. Landlord will determine the number of net rentable square feet of such expansion space (provided that it consists of at least 4,250 rentable square feet and no more than 5,750 rentable square feet) and the location of such expansion space provided that it is an option to include located within the Demised Premises that area Building (the "“First Expansion Space") shown on Exhibit "B-4"”). The "Landlord will give Tenant written notice between the 62nd and 77th calendar months after the Early Occupancy Date of the Lease of the option to take the First Expansion Space (the “First Option Exercise Deadline" is Offer”) provided that the last day First Option Offer will be made to Tenant at least four (4) months prior to the commencement date of August, 1995. The "the First Expansion Rentable Floor Area" is hereby conclusively agreed by Space. In the parties to be 10,208 square feet. The "First Expansion Option Rent Commencement Date" Offer, Landlord shall be the earlier of either notify Tenant (i) of the date of occupancy of any portion size and location of the First Expansion Space or (ii) 120 days following the delivery of the First Expansion Option Exercise Notice (as defined below) to Landlord; provided, however, if occupancy is delayed solely due to Landlord's failure to approve or disapprove the plans and specifications and contractors (if Tenant has elected to do the Expansion Space Construction itself), submitted by Tenant, within ten (10) days of Landlord's receipt thereof or, if Landlord is doing the Expansion Space Construction, due to Landlord's failure to promptly commence and diligently pursue to completion as soon as reasonably possible the improvements described in Tenant's plans and specifications (but it is clearly agreed that such 120-day period shall not be extended even if the construction is not substantially complete by the expiration of that period so long as Landlord promptly commenced and diligently pursued such construction), the "120 days" immediately above shall be increased by the number of days of delay attributable to such failures by Landlord (each such day of delay caused by Landlord's failure together with respect to either matter described above is herewith referred to as "Landlord Delay"). The "Construction Allowance" a commencement date for the First Expansion Space shall (all of which must be equal in compliance with the parameters set forth above); or (ii) that Landlord is unable to $4.50 provide Tenant with the First Expansion Space. Tenant will have a period of thirty (i30) multiplied by the number of whole months remaining days to notify Landlord in the 120-month Lease Term after writing that Tenant has elected to exercise the First Expansion Option Rent Commencement Date, (ii) divided by 120 and (ii) multiplied by based on the First Option Offer. If Tenant fails to exercise the First Expansion Rentable Floor AreaOption within such thirty (30) day period by written notice to Landlord or if Tenant notifies Landlord in writing that Tenant has elected not to exercise the First Expansion Option, then Tenant will be deemed to have waived its right to exercise the First Expansion Option hereunder. If Tenant timely exercises the First Expansion Option and if Landlord is able to satisfy the First Expansion Option pursuant to the First Option Offer, then the First Expansion Space, as identified in the First Option Offer, shall become part of the Premises and shall be subject to the terms of this Lease for the remainder of the Term subject to the Market Base Rental Rate and construction allowance determinations set forth in Paragraph 2 below. If Landlord notifies Tenant that Landlord is unable to satisfy the First Expansion Option in the First Option Offer, then Tenant, as its sole remedy, will have the termination option set forth in Paragraph 4 below.

First Expansion Option. The "(a) Subject to the terms and conditions of this Section 2.5, Tenant shall have the right to expand the Premises to include either (x) the 21st floor of the Building or (y) the full 11th floor and a portion of the 10th floor of the Building which shall, in the aggregate, contain approximately 25,000 rentable square feet, as designated by Landlord pursuant to the terms set forth below. Landlord shall designate the location of such space by written notice to Tenant, at any time on or prior to September 1, 2009, and such space shall be deemed the “First Expansion Option" Premises.” Landlord’s designation of the First Expansion Premises may later be changed prior to delivery of the same to Tenant, so long as it is an option comprised of either of the spaces referred to hereinabove in clauses (x) or (y), and notice of such change in the designation of the First Expansion Premises is given at least ninety (90) days prior to the delivery of the First Expansion Premises to Tenant. If Tenant shall give Landlord notice (“First Expansion Notice”) on or before November 1, 2009, electing to expand the Premises in accordance with this Section 2.5 to include within the Demised First Expansion Premises, then so long as the conditions to Tenant’s rights to such expansion have been satisfied, Tenant shall be deemed to have leased the First Expansion Premises, subject to the provisions of this Section 2.5. If Tenant shall have timely given First Expansion Notice, Landlord shall deliver possession of the First Expansion Premises that area to Tenant on a date not sooner than December 1, 2009 nor later than March 1, 2011 (the "“First Expansion Space"Premises Delivery Window”) shown on Exhibit "B-4"in broom clean condition, vacant of any tenant or occupant, and free of personal property and otherwise in its then “as is” condition. The "If Tenant shall fail to timely give First Expansion Option Exercise Deadline" is the last day of AugustNotice, 1995. The "First Expansion Rentable Floor Area" is hereby conclusively agreed by the parties to be 10,208 square feet. The "First Expansion Option Rent Commencement Date" Tenant shall be the earlier of (i) the date of occupancy of deemed to have waived such right, and Landlord shall thereafter be free to lease all or any portion of the First Expansion Space or (ii) 120 days following Premises to such parties and on such terms as Landlord shall determine in its sole discretion. Notwithstanding anything to the delivery of contrary herein provided, Tenant shall have waived its right to lease the First Expansion Option Exercise Notice (as defined below) to Landlord; provided, however, if occupancy is delayed solely due to Landlord's failure to approve or disapprove the plans and specifications and contractors (Premises under this Section 2.5 if Tenant has elected elects to do the Expansion Space Construction itself), submitted by Tenant, within ten (10) days of Landlord's receipt thereof or, if Landlord is doing the Expansion Space Construction, due to Landlord's failure to promptly commence and diligently pursue to completion as soon as reasonably possible the improvements described in Tenant's plans and specifications (but it is clearly agreed that such 120-day period shall not be extended even if the construction is not substantially complete by the expiration of that period so long as Landlord promptly commenced and diligently pursued such construction), the "120 days" immediately above shall be increased by the number of days of delay attributable to such failures by Landlord (each such day of delay caused by Landlord's failure with respect to either matter described above is herewith referred to as "Landlord Delay"). The "Construction Allowance" for exercise the First Expansion Space shall be equal to $4.50 (i) multiplied by the number of whole months remaining in the 120-month Lease Term after the First Expansion Contraction Option Rent Commencement Date, (ii) divided by 120 and (ii) multiplied by the First Expansion Rentable Floor Areaunder Section 2.10.

First Expansion Option. The "(a) Provided that on the date Tenant exercises the First Expansion Option (i) this Lease has not been terminated, (ii) Landlord has not delivered to Tenant a notice electing to terminate this Lease in accordance with Section 6.05 which remains in effect, (iii) Tenant is a Coach Tenant or a successor of a Coach Tenant by assignment of this Lease in accordance with Article 5 and (iv) the Marketing Center Tenant did not timely exercise the Marketing Center Renewal Option, Tenant shall have the option (the “First Expansion Option" is an option ”) to include within lease a single portion of the Demised Premises that area 24th floor of the Building which shall consist of the Marketing Center Space (as defined below) (the "“First Expansion Space") shown on Exhibit "B-4"”). The "First Expansion Option Exercise Deadline" shall be exercisable by Tenant giving Landlord notice thereof (the “First Expansion Notice”) within 30 days after Landlord delivers the Marketing Center Space Vacancy Date Notice to Tenant (time being of the essence). Landlord has informed Tenant that a portion of the 24th floor (the “Marketing Center Space”) of the Building is leased to the last day Xxxxxx Yards Marketing Tenant LLC (the “Marketing Center Tenant”) pursuant to that certain Lease dated as of AugustApril 19, 19952016 (as same may be amended, modified or supplemented from time to time, the “Marketing Center Lease”). The "First Expansion Rentable Floor Area" initial expiration date under the Marketing Center Lease is hereby conclusively agreed by March 31, 2021 and the parties Marketing Center Tenant has a 5-year renewal option to be 10,208 square feetcommence on the day immediately following the expiration of the initial term (the “Marketing Center Renewal Option”). The "“Marketing Center Space Vacancy Date” means (x) if the Marketing Center Tenant exercises the Marketing Center Renewal Option, April 1, 2026 and (y) if the Marketing Center Tenant does not exercise its renewal option, April 1, 2021. Tenant acknowledges that it has received a copy of the Marketing Center Lease. Within 30 Business Days after the date Landlord is able to determine the Marketing Center Space Vacancy Date, Landlord shall provide written notice thereof (the “Marketing Center Vacancy Date Notice”) to Tenant, which notice shall advise Tenant of the Marketing Center Space Vacancy Date; provided, that the failure of Landlord to deliver the Marketing Center Vacancy Date Notice shall not affect the First Expansion Option Rent Commencement or the Marketing Center Space Vacancy Date" . For the avoidance of doubt, (1) if the Marketing Center Tenant exercises the Marketing Center Renewal Option, then the provisions of this Section 10.01 granting to Tenant the First Expansion Option shall be null and void and of no further force or effect and (2) if the earlier Marketing Center Tenant does not exercise the Marketing Center Renewal Option and Tenant fails to timely exercise the First Expansion Option in accordance with the terms of (i) the date of occupancy of any portion this Section 10.01, then Landlord may enter into one or more leases of the First Expansion Space or (ii) 120 days following the delivery of the First Expansion Option Exercise Notice (as defined below) to Landlord; provided, however, if occupancy is delayed solely due to Landlord's failure to approve or disapprove the plans with third parties on such terms and specifications and contractors (if Tenant has elected to do the Expansion Space Construction itself), submitted by Tenant, within ten (10) days of Landlord's receipt thereof or, if Landlord is doing the Expansion Space Construction, due to Landlord's failure to promptly commence and diligently pursue to completion as soon as reasonably possible the improvements described in Tenant's plans and specifications (but it is clearly agreed that such 120-day period shall not be extended even if the construction is not substantially complete by the expiration of that period so long conditions as Landlord promptly commenced and diligently pursued such construction)shall determine, the "120 days" immediately above shall be increased by the number of days of delay attributable to such failures by Landlord (each such day of delay caused by Landlord's failure with respect to either matter described above is herewith referred to as "Landlord Delay"). The "Construction Allowance" for the First Expansion Space shall be equal null and void and of no further force and effect and Landlord shall have no further obligation to $4.50 (i) multiplied by the number of whole months remaining in the 120-month Lease Term after offer the First Expansion Option Rent Commencement Date, (ii) divided by 120 and (ii) multiplied by the First Expansion Rentable Floor AreaSpace to Tenant.

First Expansion Option. The (a) First Option to Expand. During the time period beginning on the Commencement Date and ending on the date that is one hundred eighty (180) days prior to the fifth (5th) anniversary of the Rent Commencement Date (the "First Expansion Option" Period"), provided no Event of Default has occurred and is an continuing under this Lease at the time same is exercised, Tenant shall have the option to include within expand the Demised Premises that area (the "First Option to Expand") by no less than 10,000 contiguous rentable square feet on, and no more than the entire remainder of, the fifth (5th) floor of the Tower Building (i.e., 26,772 rentable square feet) (such fifth (5th) floor 77 space being hereinafter referred to as the "First Expansion Space") shown on Exhibit "B-4"), subject to and in accordance with all of the terms hereof. The "exercise of the First Option to Expand shall be accomplished as follows: prior to expiration of the First Expansion Option Exercise Deadline" is Period, Tenant, if it wishes to exercise such option, shall notify Landlord in writing that Tenant elects to expand the last day of August, 1995. The "Premises to include the First Expansion Rentable Floor Area" is hereby conclusively agreed by Space. Tenant's expansion election notice shall include the parties to be 10,208 square feet. The "First Expansion Option Rent Commencement Date" shall be the earlier of (i) the date of occupancy of any portion approximate size of the First Expansion Space or (iiwhich shall be a minimum of 10,000 contiguous rentable square feet of fifth (5th) 120 days following floor space in the delivery Tower Building, but not exceeding the entire remainder of such fifth (5th) floor space). Following receipt of Tenant's expansion election notice, Landlord and Tenant shall mutually and reasonably agree on the final size and location of the First Expansion Option Exercise Notice (as defined below) to Landlord; provided, however, if occupancy is delayed solely due to Landlord's failure to approve or disapprove the plans and specifications and contractors (if Tenant has elected to do the Expansion Space Construction itself), submitted by Tenant, within ten (10) days of Landlord's receipt thereof or, if Landlord is doing the Expansion Space Construction, due to Landlord's failure to promptly commence and diligently pursue to completion as soon as reasonably possible the improvements described in Tenant's plans and specifications (but it is clearly agreed that such 120-day period shall not be extended even if the construction is not substantially complete by the expiration of that period so long as Landlord promptly commenced and diligently pursued such construction), the "120 days" immediately above shall be increased by the number of days of delay attributable to such failures by Landlord (each such day of delay caused by Landlord's failure with respect to either matter described above is herewith referred to as "Landlord Delay"). The "Construction Allowance" demised area for the First Expansion Space provided that Landlord and Tenant acknowledge and agree that the final size shall be equal substantially the same size specified in Tenant's expansion notice. Landlord shall deliver to $4.50 (i) multiplied by Tenant exclusive possession of the number of whole months remaining Expansion Space in the 120-month Lease Term after condition required hereunder no later than the First Expansion Option fifth (5th) anniversary of the Rent Commencement Date, subject to per diem adjustment due to Unavoidable Delays (ii) divided by 120 and (ii) multiplied by the "First Expansion Rentable Floor AreaDate").