Common use of Option for Additional Space Clause in Contracts

Option for Additional Space. A. (i) Subject to the provisions of this Article, Tenant shall have the option to lease from Landlord the balance of the space on the fifth (5th ) floor of the Building ("Additional Space") at the expiration of the existing space leases for such Additional Space which is currently leased and at the expiration of the initial space leases for such Additional Space which is currently vacant, subject in either event, to Landlord’s right to renew such leases, the existing rights of existing tenants and the requirements of tenants leasing more than 14,220 rentable square feet. If the term of this lease shall be in full force and effect on the expiration or termination date of the existing space leases for such Additional Space which is currently leased and at the expiration of the initial space leases for such Additional Space which is currently vacant, subject to Landlord’s right to renew such leases, the existing rights of existing tenants and the requirements of larger tenants, and the date upon which Tenant shall exercise the option hereinafter referred to, Tenant shall have the option to lease all, but not less than all of the Additional Space on an as-is basis, provided Tenant gives Landlord written notice of such election within 10 business days after Tenant shall receive Landlord's notice that such Additional Space is available for leasing to Tenant. If Tenant fails or refuses to exercise this option within the time period set forth above (time being of the essence), then and in such event Tenant shall have no further rights under this Section with respect to such Additional Space. If Tenant shall elect to lease all or any portion of the Additional Space (a) the Additional Space shall be deemed incorporated within and part of the Demised Premises on the date Landlord shall notify Tenant that such Additional Space is ready for occupancy by Tenant, (b) the fixed rent payable pursuant to Section 3.01 shall be increased by an amount such that during the balance of the term of this lease the fixed rent for each square foot of Rentable Area in the Additional Space shall be at the then fair market rent which sum shall be determined in the manner set forth in Section (ii), plus Electric Rent pursuant to Article 21, (c) Tenant's Proportionate Share shall be proportionately increased, (d) the number of parking spaces available to Tenant pursuant to Article 16 shall be increased by three (3) spaces per 1,000 square feet of Rentable Area in the Additional Space, and (e) all the other terms and provisions set forth in this lease shall apply, except that Landlord shall not be required to perform any work with respect to the Additional Space or make any contribution toward the cost thereof. The parties shall promptly execute an amendment of this lease confirming Tenant's election to lease said Additional Space and the incorporation of said Additional Space into the Demised Premises.

Option for Additional Space. A. a. (i) Subject to the provisions of this Article, Tenant shall have the option to lease from Landlord Owner only the balance of units contiguous to the space demised premises (after its initial leasing) and designated as Additional Space on the fifth (5th ) attached floor of the Building plan ("Additional Space") at the expiration of the existing space leases for (subject, however, to Owner's right to subdivide such Additional Space which is currently leased and units to any size or configuration it shall deem to be in its best interest) at the expiration of the initial space leases lease(s) for such Additional Space which is currently vacant, (subject in either event, to Landlord’s owner's right to renew such leases, the existing rights of existing tenants and the requirements of tenants leasing more than 14,220 rentable square feetlease(s)). If the term of this lease shall be in full force and anti effect on the expiration or termination date of the existing initial space leases lease(s) for such the Additional Space which is currently leased and at the expiration of the initial space leases for such Additional Space which is currently vacant, subject to Landlord’s right to renew such leases, the existing rights of existing tenants and the requirements of larger tenants, and the date upon which Tenant shall exercise the option hereinafter referred toto and Tenant shall then be the largest tenant in the Building, Tenant shall have the option to lease all, but not less than all of each unit of the Additional Space that is the subject of Owner's notice on an as-is basis, provided Tenant gives Landlord owner written notice of such election within 10 business 30 days after Tenant shall receive Landlordowner's notice that such portion of the Additional Space is available for leasing to Tenant. If Tenant fails or refuses to exercise this option within the time period set forth above (time being of the essence)) , then and in such event Tenant shall have no further rights under this Section with respect to such the remaining portions of the Additional SpaceSpace not leased by Tenant. If Tenant shall elect to lease all or any portion of the said Additional Space Space: (aw) the said Additional Space shall be deemed incorporated within and part of the Demised Premises demised premises on the date Landlord that Owner shall notify Tenant that such Additional Space is ready for occupancy by Tenant, (bx) the fixed rent Fixed Annual Rent payable pursuant to Section 3.01 under the lease shall be increased by an amount such that during the balance of the term of this lease the fixed Fixed Annual Rent for said Additional Space shall be the then fair market rent for the Additional Space, as determined in the manner set forth in clause (ii) below, (y) Tenant's Proportionate Share shall be increased by .002% for each square foot of Rentable Area in of the Additional Space shall be at the then fair market rent which sum shall be determined in the manner set forth in Section (ii), plus Electric Rent pursuant to Article 21, (c) leased by Tenant's Proportionate Share shall be proportionately increased, (d) the number of parking spaces available to Tenant pursuant to Article 16 shall be increased by three (3) spaces per 1,000 square feet of Rentable Area in the Additional Space, and (ez) all the other terms and provisions set forth in this the lease shall apply, except that Landlord shall Owner not be required to perform any work with respect to the said Additional Space or make any contribution toward the cost thereof. Space.* The parties shall promptly execute an amendment of this lease confirming Tenant's election to lease said Additional Space and the incorporation of said Additional Space into the Demised Premisesdemised premises.

Option for Additional Space. A. (ia) Subject Provided Tenant has not lost the right to the provisions of exercise this Articleoption as set forth above, Tenant shall have a right of first offer on the option terms set forth herein to lease from Landlord the balance one or both areas of the additional contiguous space on the fifth (5th ) fourth floor of the Office Building as shown in Exhibit "D" attached hereto and made a part hereof ("Additional Space") at ), for the expiration remainder of the existing space leases for such Additional Space which is currently leased and at the expiration of the initial space leases for such Additional Space which is currently vacant, subject in either event, to Landlord’s right to renew such leases, the existing rights of existing tenants and the requirements of tenants leasing more than 14,220 rentable square feet. If the term of this lease shall be in full force and effect on the expiration or termination date Lease. If either of the existing space leases for such Additional Space which is currently leased and at the expiration of the initial space leases for such Additional Space which is currently vacant, subject to Landlord’s right to renew such leases, the existing rights of existing tenants and the requirements of larger tenants, and the date upon which Tenant shall exercise the option hereinafter referred to, Tenant shall have the option to lease all, but not less than all of occupying the Additional Space on an as-is basis, provided Tenant gives Landlord written notice of vacates the space or such election within 10 business days after Tenant shall receive Landlordtenant's notice that such Additional Space is available for leasing to Tenant. If Tenant fails lease expires or refuses to exercise this option within the time period set forth above (time being of the essence), then and in such event Tenant shall have no further rights under this Section with respect to such Additional Space. If Tenant shall elect to lease all or any if either portion of the Additional Space otherwise becomes available during the initial term of this Lease or any extension thereof, and if there is a minimum of three years remaining on Tenant's term under this Lease, Landlord will give Tenant notice stating the portion of the Additional Space that will be available, the Fair Market Rent and the date of availability. Upon receipt of Landlord's notice, Tenant may, within ten (a10) business days thereafter, elect to send written notice to Landlord of Tenant's intent to accept and lease the entire space described in Landlord's notice as of the date stated in Landlord's notice. Tenant's acceptance of and agreement to lease the Additional Space shall be deemed incorporated within upon the same terms and part of conditions as provided herein for the Demised Premises on the date Landlord shall notify Tenant Leased Premises, except that such Additional Space is ready for occupancy by Tenant, (b) the fixed rent payable pursuant to Section 3.01 an appropriate adjustment shall be increased by an amount such that during made to Tenant's Pro-Rata Share and the balance of the term of this lease the fixed base rent for each square foot of Rentable Area in the Additional Space shall be at the then fair market rent which sum shall be determined in the manner set forth in Section (ii)equal Fair Market Rent, plus Electric Rent pursuant to Article 21as defined below, (c) with Tenant's Proportionate Share shall be proportionately increased, (d) the number of parking spaces available obligation to Tenant pursuant to Article 16 shall be increased by three (3) spaces per 1,000 square feet of Rentable Area in the Additional Space, and (e) all the other terms and provisions set forth in this lease shall apply, except that Landlord shall not be required to perform any work with respect to pay Rent for the Additional Space or make any contribution toward commencing forty-five (45) days after the cost thereof. The parties shall promptly execute an amendment of this lease confirming Tenant's election to lease said date Landlord delivers the Additional Space and the incorporation of said Additional Space into the Demised Premisesto Tenant in its "as is" condition.