Options to Expand. Provided that (i) Landlord receives written notice of Tenant’s exercise of each option to expand granted under this Paragraph 8.1 by no later than October 31, 2014, time being of the essence (each an “Expansion Option”), and (ii) there is no Default by Tenant under the Lease and no event or condition exists which with the giving of notice and/or the expiration of any grace period would constitute a Default under the Lease, both at the time the applicable Expansion Option is exercised, and on the commencement date of the addition of the Applicable Expansion Suite specified below to the Premises, Tenant shall have the right, at its option, to expand the Premises in the numerical order specified below, and not otherwise, to include the following Suites (each, an “Applicable Expansion Suite”) on the second (2nd) floor of the Building, in the locations which are shown on Exhibit A-2 attached:
1. Suite 207-Totaling approximately 1,406 rsf, which is contiguous to the First Expansion Premises.
2. Suite 205-Totaling approximately 1,723 rsf, which is contiguous to Suite 207.
3. Suite 203-Totaling approximately 4,240 rsf, which is contiguous to Suite 205. In order to exercise an Expansion Option, Tenant shall give Landlord written notice of Tenant’s exercise of an Expansion Option in the numerical order specified above, and not otherwise, which must be received by Landlord by no later than October 31, 2014, time being of the essence (an “Expansion Notice”). An Expansion Notice in which Tenant purports to exercise an Expansion Option other than in the numerical order specified above shall be void and of no force or effect. Any Expansion Notice given by Tenant to Landlord shall be irrevocable. If Tenant timely and validly delivers an Expansion Notice to Landlord, then Landlord shall promptly give the tenant of the Applicable Expansion Suite notice terminating the tenant’s lease for the Applicable Expansion Suite and requiring the tenant to vacate the Applicable Expansion Suite so that Landlord should be able to deliver possession of the Applicable Expansion Suite to Tenant on the sixtieth (60th) day after Landlord’s receipt of an Expansion Notice. If for any reason Landlord is not able to deliver possession of the Applicable Expansion Suite to Tenant on the sixtieth (60th) day following Landlord’s receipt of an Expansion Notice, Landlord shall not be subject to any liability therefor, nor such failure affect the validity of the Lease. Landlord shall, however, take comm...
Options to Expand. Notwithstanding anything to the contrary in the ----------------- Lease Form:
Options to Expand. Tenant shall have the right to expand during the initial lease term up to an approximately 88,790 square feet in increments of space at any time as set forth in Section 1.3 above. For any expansions to the Premises, the entire Lease will be extended so the remaining term will be ten years. The land constituting the expansion area is shown crosshatched on Exhibit E attached hereto and incorporated herein (the "Expansion Area"). Landlord shall execute and deliver to Tenant, upon request by Tenant, a memorandum in recordable form to be recorded against the Expansion Area giving notice to the public of the expansion option described herein. The starting Base Rent on any expansions will be determined by multiplying a lease constant by the capital cost of the expansions. The lease constant will be equal to a debt constant plus 60 basis points. The debt constant will be calculated using a 20 year loan amortization, and competitively bid interest rate and loan amount at the time of the expansions. The added 60 basis points is to compensate the Landlord for the equity needed to finance the expansions. The Base Rent on any expansion space shall be adjusted on the same terms and conditions as the initial space in every respect with appropriate prorations. For the purpose of calculating any expansion Base Rent, the capital cost of the expansions shall be the land cost at $1.98 per square foot of land, plus the actual cost of materials and labor for building and site construction, plus the actual cost of design, plus a 4% contractor's fee plus construction project management time (based on an hourly charge of $75.00 during years 1-2 or $85.00 during years 3 - 10). No development fees or Landlord fees will be charged to the cost of the expansions. The cost of all materials and labor for building and site construction shall be competitively bid. At such time as Tenant's option to expand the Building expires without exercise for any reason whatsoever, Landlord shall be solely responsible for the maintenance of the land designated for expansion. Landlord shall further be solely responsible for payment of real estate taxes and special assessments attributable to the land designated for expansion. The real estate tax and installments of special assessments attributable to the land designated for expansion shall be determined by applying the tax rate to the value placed by the assessing authority upon the land designated for expansion. At such time as Tenant's option to expan...
Options to Expand. SECTION 39.1 Provided that Tenant is not in default of the Lease beyond any applicable cure period or in circumstances which with notice or passage of time or both would constitute an event of default under the Lease on Tenant's part, Tenant shall have the following options: EXPANSION OPTION FOR UNIT 2. Tenant shall have the option to lease the adjacent 4,100 rsf identified as "Unit 2" on Exhibit A- 1 under the same terms and conditions as Phase I and Phase II of the Demised Premises until the earlier of: (a) tenant's notice to Landlord that it will not require expansion space or (b) ninety (90) days following the Phase II Commencement Date. If Tenant has not elected to lease Unit 2 during the ninety (90) day period, Tenant will have the Right of First Refusal on Unit 2.
Options to Expand. 15 10. STORAGE SPACE............................................................................................18
Options to Expand. Paragraphs 4 - 355S OPTION TO EXPAND and --------------------- 5 - 325S OPTION TO EXPAND of the First Addendum to lease pages 3 and 4 are --------------- hereby deleted and are no longer in full force and effect.
Options to Expand. Sublessee shall have two (2) options to expand into the adjoining Suite 740 (as shown on Exhibit A) of approximately 1,555 square feet during the term of the sublease at the same terms and conditions as the original transaction. The first option shall be exercisable on January 1, 2000 and if not exercised, the second option shall be exercisable on January 1, 2001. Options require Sublessee to notify Sublessor in writing at least 120 days prior to the exercise date. Both parties agree that these notices therefore must be dated October 1, 1999 and October 1, 2000 or prior.
Options to Expand. Tenant shall have the option to expand the Premises for a period beginning on the Commencement Date and continuing for eight (8) weeks thereafter, as set forth in Paragraph 38.
Options to Expand. Lessor shall notify Lessee at such time(s)as space is available in Building #12 (currently occupied by Quarry Tile). Lessee shall then have a one time Option to Expand into the entire East Center Bay and a one time Option to Expand into the e ire East Bay of said Building #12 Lessor shall inform Lessee in writing of the availability of one or both of the Bays, at which time(s)Lessee shall have a period of 30 days in which to exercise its Option(s)to Expand into the Bay(s)at the same rental rate per square foot as Lessee is then paying for square footage under this lease. If Lessee exercises the foregoing Option(s)to Expand into Quarry Tile's vacated space, Lessee
Options to Expand. Notwithstanding anything to the contrary in the Lease Form:
