Common use of Option to Lease Clause in Contracts

Option to Lease. In the event that (a) Landlord has not entered into a lease for any or all of Suites 201, 203 and 209 of 9318 North 95th Way, Scottsdale, Arizona, by December 31, 1996, (b) xxx Xxxxxxxxxx Xxxxxx, xx xxx, xxxxx Xxxtion 15.03 above has expired, and (c) there is no pending first right to lease under Section 15.03 above, then as long as Tenant is not in default under the terms of this Lease, Tenant shall, subject to the provisions of Section 15.03, have the right upon thirty (30) days prior written notice to Landlord to lease Suites 201, 203 and 209. In the event Tenant exercises its option to lease Suites 201, 203 and 209 in accordance with this Section 15.04, the rental shall be at the same rate then applicable for space as set forth in Exhibit "B", and such rental rates shall increase by the same amount and on the same dates as the rental increases for the space on Exhibit "B". The term of the Lease for such space shall expire October 31, 1999. Except as specifically set forth in this Section 15.04, Tenant's occupancy of Suites 201, 203 and 209 under the provisions of this Section 15.04 shall be upon all the same terms and conditions set forth in this Lease. Tenant agrees to accept Suites 201, 203 and 209 in "AS IS" condition. Notwithstanding any of the foregoing provisions of this Section 15.04 to the contrary, the provisions of Section 15.03 shall take precedence over the foregoing provisions of this Section and should Landlord, pursuant to Section 15.03, lease all or any of Suites 201, 203 or 209 of 9318 North 95th Way, Scottsdale, Arizona, to a third party, thxxx xxxx xxxxx xx xxxxxx xxxxx xxxxxxxxxx xe exempt from the provisions of this Section. If Tenant has rejected or is deemed to have rejected any offering under Section 15.03, Tenant shall not have the right to exercise its rights under this Section with respect to the suite or suites included within the rejected offering during the 90-day period in which Landlord may rent such suite or suites to a third party.

Appears in 1 contract

Samples: Commercial Lease Agreement (Antigua Enterprises Inc)

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Option to Lease. In Landlord hereby agrees that, in the event that of (a) Landlord has not entered into a lease for any the termination or all expiration of Suites 201, 203 the Franchise Agreement by and 209 of 9318 North 95th Way, Scottsdale, Arizona, by December 31, 1996, between Tenant and Franchisor; (b) xxx Xxxxxxxxxx Xxxxxxthe termination of the Form Lease for any cause whatsoever including, xx xxxwithout limitation, xxxxx Xxxtion 15.03 above has expired, a default by Tenant under the Form Lease after expiration of any applicable notice and cure periods; or (c) there is no pending first right Tenant’s failure to lease under Section 15.03 above, then as long as Tenant is not exercise any extension option contained in default under the terms of this Form Lease, Tenant shall, subject to the provisions of Section 15.03, Franchisor shall have the right upon thirty (30) days prior written notice to Landlord to lease Suites 201, 203 and 209. In the event Tenant exercises its option to lease Suites 201, 203 and 209 in accordance with this Section 15.04, the rental shall be at the same rate then applicable for space as set forth in Exhibit "B", and such rental rates shall increase by the same amount and on the same dates as the rental increases for the space on Exhibit "B". The term of the Lease for such space shall expire October 31, 1999. Except as specifically set forth in this Section 15.04, Tenant's occupancy of Suites 201, 203 and 209 under the provisions of this Section 15.04 shall be upon all Premises according to the same terms and conditions as are contained in the Form Lease, in accordance with the following: (a) Lxxxxxxx agrees to promptly give written notice to Franchisor (at the address set forth in this Lease. Agreement) in the event the Form Lease is terminated as the result of a default by Tenant agrees or in the event Tenant fails to accept Suites 201, 203 and 209 in "AS IS" condition. Notwithstanding exercise any remaining options to extend the term of the foregoing provisions Form Lease; (b) If Franchisor elects to lease the Premises, Franchisor shall notify Landlord in writing of its election to exercise this Section 15.04 option to lease within 30 days after (1) termination or expiration of the contraryFranchise Agreement; (2) Franchisor’s receipt of notice from Landlord that the Form Lease has been terminated; or (3) receipt of notice from Landlord that Tenant has failed to exercise an option to extend the term of the Form Lease; (c) If Franchisor elects to lease the Premises, Franchisor shall sign and deliver to Landlord a lease containing all of the same terms and conditions (including rental rates, terms and remaining options to extend the term of the Lease) as are contained in the Lease; provided, however, that Franchisor’s leasehold interest shall not be subject to any defaults or claims that may exist between Landlord and Tenant and any lease shall permit Franchisor to assign the lease or sublease the Premises to a franchisee of Franchisor for use as a WING ZONE franchised location; at which point, the provisions new franchisee shall sign and deliver to Landlord a lease containing all of Section 15.03 the same terms and conditions (including rental rates, terms and remaining options to extend the term of the Lease) as are contained in the Lease, and Franchisor shall take precedence over be released from any and all liability under the foregoing provisions of lease; and (d) Nothing contained in this Section and should Agreement shall affect Landlord, pursuant to Section 15.03, lease all or any of Suites 201, 203 or 209 of 9318 North 95th Way, Scottsdale, Arizona, to a third party, thxxx xxxx xxxxx xx xxxxxx xxxxx xxxxxxxxxx xe exempt from the provisions of this Section. If Tenant has rejected or is deemed to have rejected any offering under Section 15.03, Tenant shall not have the ’s right to recover any and all amounts due under the Form Lease from Tenant or to exercise its rights any right of Landlord against Tenant as provided under this Section with respect to the suite or suites included within the rejected offering during the 90-day period in which Landlord may rent such suite or suites to a third partyForm Lease.

Appears in 1 contract

Samples: Franchise Agreement (Wing Zone Labs, Inc.)

Option to Lease. In the event that (a) Landlord has not entered into a lease for any or all of Suites 201, 203 and 209 of 9318 North 95th Way, Scottsdale, Arizona, by December 31, 1996, (b) xxx Xxxxxxxxxx Xxxxxx, xx xxx, xxxxx Xxxtion 15.03 above has expired, and (c) there is no pending first right to lease under Section 15.03 above, then as long as Tenant is not in default under the terms of this Lease, Tenant shall, subject to the provisions of Section 15.03, shall have the right upon thirty (30) days prior written notice to Landlord to lease Suites 201, 203 and 209. In the event Tenant exercises its an option to lease Suites 201("Lease Option") the Option Properties, 203 and 209 in accordance with this Section 15.04with, and subject to, the rental shall be at the same rate then applicable for space as set forth in Exhibit "B", and such rental rates shall increase by the same amount and on the same dates as the rental increases for the space on Exhibit "B". The term of the Lease for such space shall expire October 31, 1999. Except as specifically set forth in this Section 15.04, Tenant's occupancy of Suites 201, 203 and 209 under the provisions of this Section 15.04 shall be upon all the same terms and conditions set forth in this Paragraph 29. (A) At any time within thirty (30) days after Landlord obtains approval by the Planning Commission of the City to construct an office building on an Option Property (other than the Land), and prior to leasing all or any portion of such Option Property to any third party for office purposes, Landlord shall notify Tenant of the availability of such Option Property for lease (the "Lease Availability Notice"). Tenant shall exercise the Lease Option, if at all, by delivering written notice to Landlord (the "Lease Acceptance Notice") within ten (10) days following its receipt of Landlord's Availability Notice. If Tenant fails to deliver its Lease Acceptance Notice within said ten (10) day period, Landlord may thereafter lease the Option Property identified in the Lease Availability Notice on such terms and conditions as Landlord may determine in its sole discretion, and Tenant shall have no further right to lease such Option Property pursuant to this Paragraph 29. (B) If Tenant timely exercises the Lease Option as set forth herein, Landlord and Tenant shall promptly enter into a lease for the subject Option Property on substantially the same terms and conditions as contained in this Lease, including, without limitation, an average rental rate of Fifty-Five Dollars ($55.00) per rentable square foot, on a "triple net" basis, except that the term of the new lease shall expire on the later of (i) ten (10) years after the commencement date thereof and (ii) the Expiration Date of this Lease. If Landlord and Tenant agrees cannot mutually agree upon the terms and conditions of the new lease within thirty (30) days after Tenant's exercise of the Lease Option, either party may elect to accept Suites 201submit the matter to arbitration in accordance with Paragraph 32. (C) The Lease Option is a one-time right with respect to each Option Property. If Tenant fails to timely deliver the Lease Acceptance Notice to Landlord, 203 Landlord may thereafter lease such Option Property on such terms and 209 conditions as Landlord may determine in "AS IS" conditionits sole discretion, and Tenant shall have no further right to lease such Option Property pursuant to this Paragraph 29. (D) The Lease Option contained in this Paragraph 29 shall not be exercisable, or, if exercised, shall not be effective, if on the date of exercise of such right or on the date the Option Property would otherwise be leased to Tenant (i) Tenant is in default under this Lease beyond any applicable cure period, or (ii) Tenant has previously been in default of its monetary obligations under this Lease beyond any applicable cure period, more than once. Notwithstanding Further, the Lease Option is personal to CNET NETWORKS, INC. and may only be exercised if on the date of exercise of such right and on the date the Option Property would otherwise be leased to Tenant, CNET NETWORKS, INC. shall not have assigned this Lease or sublet any portion of the Premises other than to a Tenant Affiliate. (E) The Lease Option shall apply to any Option Property only if and so long as Xxxxxx Xxxxxxxxxx shall have any ownership interest therein. The Lease Option is not binding on successors or assigns, does not run with the land, and shall automatically terminate with respect to each Option Property at such time as Xxxxxx Xxxxxxxxxx shall no longer have an interest in such Option Property. From time to time, upon request, Tenant shall promptly execute such documentation as shall be reasonably requested by Landlord to acknowledge termination of the Lease Option with respect to any one or more Option Properties. (F) Nothing contained in this Paragraph 29 or elsewhere in this Lease shall constitute or be construed to constitute a covenant, representation or warranty on the part of Landlord that Landlord will pursue or obtain any approval by the Planning Commission to construct an office building on any of the foregoing provisions Option Properties, or the timing of this Section 15.04 such approval, and Landlord shall have no liability whatsoever to the contrary, the provisions of Section 15.03 shall take precedence over the foregoing provisions of this Section and should Landlord, pursuant Tenant for its failure to Section 15.03, lease all or any of Suites 201, 203 or 209 of 9318 North 95th Way, Scottsdale, Arizona, to a third party, thxxx xxxx xxxxx xx xxxxxx xxxxx xxxxxxxxxx xe exempt from the provisions of this Section. If Tenant has rejected or is deemed to have rejected any offering under Section 15.03, Tenant shall not have the right to exercise its rights under this Section with respect to the suite or suites included within the rejected offering during the 90-day period in which Landlord may rent obtain such suite or suites to a third partyapprovals.

Appears in 1 contract

Samples: Office Lease (Cnet Networks Inc)

Option to Lease. In Lessor hereby grants to Lessee an option to lease (the event "Option") Option Area - D on the following terms and conditions. A. Lessee may exercise the Option only by giving Landlord written notice ("Lessee's Notice") of its intention to do so on or before July 1, 1996, but no earlier that July 1, 1995. B. Immediately upon receipt of Lessee's Notice, Lessor shall, at Lessor's sole cost and expense, use reasonable good faith efforts to negotiate and execute a written lease termination agreement with Fox & Xxxxxxxxx for Option Area - D, which agreement shall provide for the termination of such lease and surrender of possession by the tenant thereunder so that Option Area - D would be available no later that twelve (12) months after Lessors receipt of Lessee's Notice (the "Delivery Period"). Notwithstanding the foregoing, unless Lessee agrees otherwise, the lease for Option Area shall not commence sooner than the later of (i) six (6) months following the date that Lessor receives Lessee's Notice or (ii) three (3) months following the date that Fox & Xxxxxxxxx vacates Option Area -D (the "Option Commencement Period"). (i) If Lessor executes said lease termination agreement enabling Lessor to deliver possession to Lessee during the Delivery Period, then Lessor shall lease to Lessee and Lessee shall lease from Lessor Option Area - D by executing an amendment to the Lease which amendment shall provide for the following terms and conditions; (a) Landlord has not entered into a lease for any or all The definition of Suites 201, 203 and 209 of 9318 North 95th Way, Scottsdale, Arizona, by December 31, 1996, the Premises shall be amended to provide that the Premises includes Option Area - D. (b) xxx Xxxxxxxxxx Xxxxxx, xx xxx, xxxxx Xxxtion 15.03 above has expired, and (c) there is no pending first right to lease under Section 15.03 above, then as long as Tenant is not in default under the terms of this Lease, Tenant shall, subject to the provisions of Section 15.03, have the right upon thirty (30) days prior written notice to Landlord to lease Suites 201, 203 and 209. In the event Tenant exercises its option to lease Suites 201, 203 and 209 in accordance with this Section 15.04, the rental shall be at the same rate then applicable for space as set forth in Exhibit "B", and such rental rates shall increase by the same amount and on the same dates as the rental increases for the space on Exhibit "B". The term of the Lease shall be extened for such a term of five (5) years, commencing on the date that Option Area - D is delivered to Lessee in the condition required pursuant to Subparagraph 7 (B) (i) (c) of this Amendment (the "Option Area - D Commencement Date"). (c) Rent for the Premises (including Option Area - D) shall be as follows, as applicable: (1) Commencing on the Option Area - D Commencement Date and continuing thereafter through and including June 30, 1997, monthly rent shall equal One and 10/100 Dollars ($1.10) per square foot of office space and Sixty Cents ($0.60) per square foot of warehouse space. (2) Commencing on July 1, 1997 and continuing thereafter through and including June 30, 1998, monthly rent shall expire October 31equal One and 15/100 Dollars ($1.15) per square foot of office space and Sixty-Five Cents ($.65) per square foot of warehouse space. (3) Commencing on July 1, 1998 and continuing thereafter through and including June 30, 1999. Except , monthly rent shall equal One and 18/100 ($1.18) per square foot of office space and Sixty Five Cents ($0.65) per square foot of warehouse space. (4) Commencing on July 1, 1999 and continuing thereafter through and including June 20, 2000, monthly rent shall equal One and 23/100 Dollars ($1.23) per square foot of office space and Sixty Eight Cents ($0.68) per square foot of warehouse space. (5) Commencing on July 1, 2000 and continuing thereafter through and including June 30, 2001, monthly rent shall equal One and 28/100 ($1.28) per square foot of office space and Seventy Cents ($0.70) per square foot of warehouse space. (6) Commencing on July 1, 2001 and continuing thereafter through and including June 30, 2002, monthly rent shall equal One and 33/100 ($1.33) per square foot of office space and Seventy Three Cents ($0,73) per square foot of warehouse space. (ii) Notwithstanding the foregoing, if Lessor fails to execute such lease termination agreement on June 30, 1997 after Lessor's receipt of Lessee's Notice than Lessee shall have the option to terminate the Lease effective as specifically set forth in this Section 15.04of June 30, Tenant1997 by notifying Lessor of its intention to do so provided that Lessee pays to Lessor on June 30, 1997, Two Hundred Eleven Thousand Seventy Hundred Sixty Dollars ($211,760) (equivalent to four (4) months' rent) plus an additional amount equal to Lessor's occupancy reasonable estimation of Suites 201additional rent which would be payable by Lessee during said four (4) month period pursuant to Paragraph 8B, 203 9C and 209 under the provisions of this Section 15.04 shall be upon all the same terms and conditions set forth in this Lease. Tenant agrees to accept Suites 201, 203 and 209 in "AS IS" condition. Notwithstanding any 10 of the foregoing provisions of this Section 15.04 to the contrary, the provisions of Section 15.03 shall take precedence over the foregoing provisions of this Section and should Landlord, pursuant to Section 15.03, lease all or any of Suites 201, 203 or 209 of 9318 North 95th Way, Scottsdale, Arizona, to a third party, thxxx xxxx xxxxx xx xxxxxx xxxxx xxxxxxxxxx xe exempt from the provisions of this Section. If Tenant has rejected or is deemed to have rejected any offering under Section 15.03, Tenant shall not have the right to exercise its rights under this Section with respect to the suite or suites included within the rejected offering during the 90-day period in which Landlord may rent such suite or suites to a third partyLease.

Appears in 1 contract

Samples: Lease Agreement (Cellnet Data Systems Inc)

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Option to Lease. In Landlord hereby agrees that, in the event that of (a) the termination or expiration of the License Agreement by and between Tenant and Licensor; (b) the termination of the Form Lease for any cause whatsoever including, without limitation, a default by Tenant under the Form Lease after expiration of any applicable notice and cure periods; or (c) Tenant’s failure to exercise any extension option contained in the Form Lease, Licensor shall have the option to lease the Premises pursuant to the same terms and conditions as are contained in the Form Lease, in accordance with the following: (a) Landlord has not entered into agrees to promptly give Notice to Licensor (at the address set forth herein) in the event the Form Lease is terminated as the result of a lease for default by Tenant or in the event Tenant fails to exercise any or all remaining options to extend the term of Suites 201, 203 and 209 of 9318 North 95th Way, Scottsdale, Arizona, by December 31, 1996, the Form Lease; (b) xxx Xxxxxxxxxx Xxxxxx, xx xxx, xxxxx Xxxtion 15.03 above has expired, and (c) there is no pending first right If Licensor elects to lease under Section 15.03 abovethe Premises, then as long as Tenant is not Licensor shall notify Landlord in default under the terms writing of its election to exercise this Lease, Tenant shall, subject option to the provisions of Section 15.03, have the right upon lease within thirty (30) days prior written notice after (1) termination or expiration of the License Agreement; (2) Licensor’s receipt of Notice from Landlord that the Form Lease has been terminated; or (3) receipt of Notice from Landlord that Tenant has failed to Landlord to lease Suites 201, 203 and 209. In the event Tenant exercises its exercise an option to lease Suites 201, 203 and 209 in accordance with this Section 15.04, extend the rental shall be at the same rate then applicable for space as set forth in Exhibit "B", and such rental rates shall increase by the same amount and on the same dates as the rental increases for the space on Exhibit "B". The term of the Lease for such space Form Lease; (c) If Licensor elects to lease the Premises, Licensor shall expire October 31, 1999. Except as specifically set forth in this Section 15.04, Tenant's occupancy sign and deliver to Landlord a lease containing all of Suites 201, 203 and 209 under the provisions of this Section 15.04 shall be upon all the same terms and conditions set forth in this Lease. Tenant agrees (including rental rates, terms and remaining options to accept Suites 201, 203 and 209 in "AS IS" condition. Notwithstanding any extend the term of the foregoing provisions of this Section 15.04 Form Lease) as are contained in the Form Lease; provided, however, that Licensor’s leasehold interest shall not be subject to any defaults or claims that may exist between Landlord and Tenant and any such lease shall permit Licensor to assign the contrary, lease or sublease the provisions of Section 15.03 shall take precedence over the foregoing provisions of this Section and should Landlord, pursuant to Section 15.03, lease all or any of Suites 201, 203 or 209 of 9318 North 95th Way, Scottsdale, Arizona, Premises to a third party, thxxx xxxx xxxxx xx xxxxxx xxxxx xxxxxxxxxx xe exempt from the provisions licensee of this Section. If Tenant has rejected or is deemed to have rejected any offering under Section 15.03, Tenant Licensor for use as a LITTLE DOODLES PLAY CAFÉ location; and (d) Nothing contained herein shall not have the affect Landlord’s right to recover any and all amounts due under the Form Lease from Tenant or to exercise its rights any right of Landlord against Tenant as provided under this Section with respect to the suite or suites included within the rejected offering during the 90-day period in which Landlord may rent such suite or suites to a third partyForm Lease.

Appears in 1 contract

Samples: License Agreement

Option to Lease. In During the event that (a) Landlord has term of this Lease Agreement and provided Lessee is not entered into a otherwise in default under this Lease agreement, Lessee shall have the right to lease for any or all of Suites 201Suite 365 comprised of 1,100 rentable square feet (the "Dacom America Premises"); and/or Suite 370 comprised of 1,485 rentable square feet (the "2001 Real Estate premises"), 203 and/or Suite 375 comprised of 800 rentable square feet (the "ASN Premises"). (The Dacom America Premises, 2001 Real Estate Premises and 209 the ASN Premises are collectively, the "Expansion Premises") Lessee Shall exercise its Option granted herein by the delivery of 9318 North 95th Way, Scottsdale, Arizona, by a notice (the "Notice to Exercise") no later than December 31, 1996, (b) xxx Xxxxxxxxxx Xxxxxx, xx xxx, xxxxx Xxxtion 15.03 above has expired, and (c) there is no pending first right to lease under Section 15.03 above, then as long as Tenant is not in default under 1999 Time shall be Of the terms of this Lease, Tenant shall, subject essence with respect to the provisions delivery of Section 15.03, have the right upon thirty (30) days prior written notice Notice to Landlord Exercise. The Notice to lease Suites 201, 203 and 209. In the event Tenant exercises Exercise shall specify if Lessee has exercised its option to lease Suites 201all or a portion of the Expansion Premises. If Lessee shall elect to lease a portion of the Expansion Premises, 203 Lessee shall lease all of the Dacom America premises or all of the 2001. Real Estate Premises or all of both, and 209 Lessee shall have no further option to lease the ASN Premises. Lessee shall take possession of the Expansion Premises and the term thereof or shall commence September 1, 000 and the Lease Expiration Date shall be extended to August 31, 2005. Basic Rent for the Expansion Premises shall be a sum equal to the aggregate Rentable Square Feet comprising the Expansion Premises (or the portion thereof as aforementioned) multiplied by the Basic Rent in accordance effect for the Third Floor Premises on a square foot basis through May 31, 2003 including increases In the same manner as provided with this Section 15.04respect to the Third Floor Premises. Thus, if Lessee shall exercise its option granted herein to lease the entire Expansion Premises, the rental Third Floor Premises shall be at increased to 16,385 Rentable Square Feet and Basic Rent shall be as follows: Original Third Floor Premises (13 000 Rentable Square Feet) ---------------------------- Period Per Annum Per Month ------ --------- --------- 9/1/00 to 8/31/01 $325,000.00 $27,083.33 9/1/01 to 8/31/02 328,250.00 27,354.17 9/1/az to 8/31/03 331,500.00 27,625.00 Expansion Premises (3385 Rentable square Feet) -------------------------- Period Per annum Per Month ------ --------- --------- 9/1/00 to 8/31/01 $ 84,525.00 $ 7,052.08 9/1/01 to 8/31/0 85,471.25 7,122.60 9/1/02 to 8/31/03 86,317.50 7,193.13 Third Floor Premises (l6,385 Rentable square Feet) ---------------------------- Period Per Annum Per Month ------ --------- --------- 9/1/03 to 8/31/04 $434,202.50 $36,183.54 9/1/04 to 8/31/05 450,587.50 37,548.96 If Lessee shall exercise its option to Lease only the same rate then applicable Dacom America Premises and/or the 2001 Real Estate Premises, Basic Rent Set forth above shall be adjusted accordingly. In addition, Basic Rent in respect of the Lower Lobby Premises Shall be modified as follows. Period Per Annum Per Month ------ --------- --------- 6/1/03 to 8/31/03 $ 46,000.00 $ 3,833.34 9/1/03 to 8/31/04 50,000.00 4,166.67 9/1/04 to 8/31/05 54,000.00 4,500.00 If Lessee shall exercise its option granted herein, Paragraph 60 of this Lease Shall be deemed modified to provide that (i) the Renewal Term Commencement Date shall be September 1, 2005; (ii) the Renewal Term Expiration Date shall be August 31, 2010; (iii) Notice to Renew shall be served by February 28, 2005; and (iv) Basic Rent for space the Renewal Term shall be not less than Basic Rent paid during the period of September 1, 2004 through August 31, 2005. If Lessee shall exercise its Option to lease all of the Expansion Premises, Lessor shall be responsible for completion of the build-Out of the Expansion Premises and shall contribute a sum not to exceed $50,775.00. Any costs in excess of $50,775.00 shall be paid by Lessee promptly upon Submission Of invoice(s) therefor. If Lessee shall exercise its Option to lease only the Dacorn America Premises and/or the 2001 Real Estate Premises, Lessor's build-out contribution shall be adjusted accordingly. The provisions of Paragraphs 26 (a) (i) through (v) shall govern the build out of the Expansion Premises (or portion thereof as set forth may be applicable). Within ten (10) days after delivery of the Notice to Exercise, Lessor and Lessee shall negotiate in Exhibit "B"good faith all Other terms and provisions in respect Of the leasing of the Expansion Premises and shall execute a supplementary agreement amending this Lease agreement. Wherever appropriate and unless either specified herein or mutually agreed by Lessor and Lessee, all other terms, covenants, and such rental rates conditions of this Lease Agreement, shall increase by be applicable to the same amount Expansion Premises and on incorporated into the same dates as the rental increases for the space on Exhibit "B"supplementary agreement. The term Upon Lessee's acceptance and occupancy of the Lease for such space Expansion Premises, Lessee shall expire October 31, 1999. Except as specifically set forth in this Section 15.04, Tenant's occupancy of Suites 201, 203 acknowledge that it has inspected and 209 under s fully familiar With the provisions of this Section 15.04 shall be upon all Expansion Premises and that it has accepted the same terms and conditions set forth in this Lease. Tenant agrees to accept Suites 201, 203 and 209 expansion Premises in "AS IS" condition. Notwithstanding any of Lessee shall execute and deliver at that time a document acknowledging the foregoing provisions of this Section 15.04 to the contrary, the provisions of Section 15.03 shall take precedence over the foregoing provisions of this Section and should Landlord, pursuant to Section 15.03, lease all or any of Suites 201, 203 or 209 of 9318 North 95th Way, Scottsdale, Arizona, to a third party, thxxx xxxx xxxxx xx xxxxxx xxxxx xxxxxxxxxx xe exempt from the provisions of this Section. If Tenant has rejected or is deemed to have rejected any offering under Section 15.03, Tenant shall not have the right to exercise its rights under this Section with respect to the suite or suites included within the rejected offering during the 90-day period in which Landlord may rent such suite or suites to a third partysame.

Appears in 1 contract

Samples: Lease Agreement (Vocaltec Communications LTD)

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