Option to Expand. On or before expiration of the sixth (6th) month of the term, Tenant shall be required to lease the remainder 3,942 square feet of Rentable Space on the third (3rd) floor, at the same rental rate then being paid for the initial Premises. In addition, Tenant will have the right to expand during the first 6 months by leasing the approximately 15,165 square feet of Rental Space on the fourth (4th) floor (the “4th Floor Space”) as identified on Exhibit “B-1” attached to this Lease and incorporated herein by reference at the same rental rate then being paid in the initial Premises; provided, however, Landlord will continue to keep the 4th Floor Space available for lease to Tenant for one additional period of three (3) months (a total of nine months following the commencement date), but if Tenant elects to lease the 4th Floor Space between the expiration of the sixth (6) month and commencement of the ninth (9th) month following commencement of the Lease, the rental rate shall be increased by twenty-five cents (.25¢) per square foot, and Tenant improvements dollars will decline on a pro rata basis based on the remaining length of the term. If the Tenant does not elect to lease the fourth (4th) floor space during the initial nine (9) months following commencement of the Lease, Tenant shall have the right of first refusal to lease the 4th Floor Space in the event that Landlord receives an offer to lease the space, and any such right of first refusal shall be on the exact terms received and approved by Landlord from a third party offering to lease the 4th Floor Space. Tenant shall have the option to lease at then current market rental rates any additional space which is available in 5,000 rsf increments consisting of the area which is available on the second (2nd) and fifth (5th) floors designated and referred to as the “Expansion Space”, at any time during the lease term (the “Effective Date”) and ending on the expiration of the Lease Term (unless sooner terminated pursuant to the terms of this Lease, and subject to any rights of extension contained in this Lease) by delivering written notice to Landlord, provided that at the time of such notice and on the Effective Date, no event of default, as defined in Paragraph 25 of this Lease, shall have occurred and remain uncured beyond any applicable cure period. Once Tenant shall exercise an expansion option, Tenant may not thereafter revoke such exercise. Tenant’s failure to timely exercise an expansion option for any r...
Option to Expand. So long as Tenant is not then in default of the Lease beyond any applicable cure periods, Tenant shall have a one-time option to expand the Premises (the “Second Floor Expansion Option”) by adding approximately 2,072 rentable square feet located on the second floor of the Building as outlined on the attached Exhibit A-1 ((the “Second Floor Expansion Option”), in accordance with the terms of this Section 29.17. If Tenant wishes to exercise the Second Floor Expansion Option, Tenant shall do so by giving Landlord written notice of its exercise of the Second Floor Expansion Option (the “Second Floor Expansion Notice”) no later than on June 30, 2006. If Tenant does not give Landlord a written notice exercising Tenant’s Second Floor Expansion Option, then the Option shall terminate and shall be of no further force or effect. If Tenant gives Landlord written notice of is exercise of the Second Floor Expansion Option on or before June 30, 2006, then, effective on the earlier of (a) the date on which tenant improvements in the Second Floor Expansion Space are substantially completed or (b) September 1, 2006 (the “Second Floor Expansion Space Commencement Date”), the Second Floor Expansion Space shall be added to the Premises. The annual Base Rent for the Second Floor Expansion Space (the “Second Floor Expansion Space Base Rent”) shall equal the rate per square foot at the time of the Second Floor Expansion Space Commencement Date, as set forth in the Summary of Fundamental Provisions, Item #5 of this Lease, multiplied by 2,072, and the Second Floor Expansion Space Base Rent shall increase as set forth in the Summary of Fundamental Provisions, Item #5 of the Lease. The tenant improvement allowance to be provided by Landlord for the Second Floor Expansion Space shall equal $23.86 per rentable square foot. Effective on the Second Floor Expansion Space Commencement Date, the following shall occur: (a) the Second Floor Expansion Space shall be added to the Premises for the remainder of the Term of the Lease, (b) Base Rent for the Premises shall be increased by an amount equal to the Second Floor Base Rent determined as provided in this Section 29.17, and (c) Tenant’s Proportionate Share of Operating Expenses shall increase proportionately based on the increase the square footage in the Premises. Subject to the tenant improvement allowance to be provided by Landlord and Landlord’s obligations regarding common areas described above in this Section 29.17, Tenant shall leas...
Option to Expand. Upon providing written notice to the Landlord no later than August 31, 2011, the Tenant shall have the option to lease the entire 3rd floor of the building on the same terms and conditions as the Leased Premises, subject to pars 13. The third (3rd) floor of the Building shall be leased to the Tenant on an “as-is, where-is” basis and the Landlord will not be required to complete the Landlord’s Work attached hereto as Schedule “B”.”
Option to Expand. Party A hereby grants to Party B the exclusive right to construct and operate independent mining operations and floatation circuits ("Expansion") using Party A's existing plant or other site, as may be required from time to time, to secure or increase production of raw materials to be supplied to the JVC. Such Expansion may take the form of joint venture between Party A and Party B or an operation wholly owned and operated by Party B. Where such Expansion takes the form of a joint venture, the terms and conditions of this Contract shall apply where applicable.
Option to Expand. Landlord hereby grants Tenant the option to expand the Premises by including an additional square feet of contiguous Rentable Area as outlined in blue on Exhibit D ("Option Space") to the Premises to be effective no later than of the Lease Term; provided, however, that Tenant exercises the option to expand by written notice delivered by Tenant to Landlord no later than of the Lease Term. Upon Tenant's exercise of the option and occupancy of the Option Space, the Option Space or part of it shall be included within the Premises and leased to Tenant pursuant to the provisions of this Lease, including, without limitation, the provisions relating to the rights and obligations of the parties with respect to alterations. Rent for the Option Space shall be the Rent in effect under this Lease at the commencement of Tenant's occupancy of the Option Space. The rent payable under this Lease shall be increased by the amount of rent attributable to the Option Space or part of it that is leased by Tenant. The parties shall immediately execute an amendment to this Lease stating the addition of the Option Space or part of it to the Premises. Upon receipt of Tenant's notice to exercise the option, Landlord shall design and construct such space in accordance with the terms set forth in Exhibit E. Tenant shall be entitled to a tenant improvement allowance of per square foot of Rentable Area for the Option Space.
Option to Expand. 12.1 Provided that at the time of exercise by Tenant under this Section 12.1, (i) there exists no Default of Tenant under this Lease, (ii) this Lease is then in full force and effect, (iii) Tenant or a permitted assignee is in actual occupancy of at least 90% of the Consolidated Premises demised hereunder (or such portions thereof as Tenant shall have occupied at any time during the Term), and (iv) neither Exchange Applications, Inc. nor any assignee or sublessee or affiliate thereof shall have any right to occupy the Subleased Premises (as evidenced by written notice of the same from Landlord to Tenant given prior to May 31, 2001)' then Tenant shall have the right and option to lease from Landlord the Subleased Premises commencing November 1, 2001 in accordance with, and subject to, the terms hereof for the balance of the Term, as the same may be extended. Tenant shall exercise such option to expand by giving notice to Landlord of its desire to do so not later than January 31, 2001. Provided that the conditions set forth in this section shall have been satisfied, the giving of such notice by Tenant shall automatically cause the Subleased Premises to become part of the Consolidated Premises, and into separate instrument need be executed by the parties, provided, however, that upon the request of either party, the other party shall execute any reasonable instrument or document to memorialize the addition of the Subleased Premises to the Consolidated Premises. In the event that Tenant fails to give such notice to Landlord, Xxxxxx's rights under this Section 12.1 shall automatically terminate. and Xxxxxx shall have no further option to expand into the Subleased Premises, it being agreed that time is of the essence with respect to the giving of such notice. Xxxxxx's occupancy of the Subleased Premises shall be on all of the terms and conditions of this Lease, including, without limitation, the obligation to pay.. Annual Fixed Rent for the Subleased Premises and Tenant's Operating Expenses and Taxes for the Subleased Premises.
Option to Expand. Lessee may request Lessor to expand the demised Premises into additional spaces/buildings/land. Lessor may, at its sole discretion, agree to allow Lessee to expand into such additional spaces/buildings/land. If Lessor agrees to allow Lessee to expand, Lessor shall provide to Lessee, in writing, a description of the proposed additional spaces/buildings/land and the rental rates and other fees to be paid by Lessee for such additional spaces/buildings/land. If Lessee accepts the description and the rates/fees, the demised Premises under this Lease shall be expanded to include such additional spaces/buildings/land as agreed. The terms and conditions of this Lease shall also apply to the additional spaces/buildings/land.
Option to Expand. See addendum.
Option to Expand. (a) Subject to Tenant's payment of the Expansion Space Holding Cost as provided for hereinbelow, Landlord hereby grants to Tenant an option (the "Expansion Option") to lease the expansion area containing approximately 3,036 rentable square feet (which includes the adjustment provided for in Paragraph 2.1 of the Lease) as shown on Exhibit A to the Lease (the "Expansion Space"). The expansion Option shall be exercised, if at all, by notice from Tenant to Landlord in writing within six (6) months of the commencement date of the term of the Lease; provided, however, that if Tenant is in default under any of the material terms, conditions or covenants of the Lease, either at the time Tenant exercises, the Expansion Option or when Landlord delivers the Expansion Space, Landlord shall have, in addition to the rights and remedies provided in the Lease, the right to terminate the Expansion Option.
Option to Expand. Tenant shall have the right, to be exercised as hereinafter provided, to expand the Premises ("Expansion Option") into space to be constructed on the Land adjacent to the Premises, which land is more particularly described on Exhibit "A-1" attached hereto and incorporated herein ("Expansion Land") together with certain improvements to be constructed thereon, including an approximately ninety-five thousand (95,000) square foot addition to the Building, depicted as the Expansion Space on Exhibit "A-2" ("Expansion Space"), upon the following terms and conditions and subject to the limitations set forth below.
