Right of Notice. At any time prior to the expiration of the Lease Term, provided that this Lease is in full force and effect and Tenant is not in default of any of the terms, covenants and conditions herein contained, in the event Landlord desires to lease any of the remaining space in the Building to a third party (the "Notice Space"), Landlord shall provide written notice (the "Offer Notice") to Tenant of Landlord's intent to lease such Notice Space to a third party, which Offer Notice shall include notice as to the date on which the Notice Space shall become available and the amount of the Notice Space available for lease by Tenant. Tenant shall thereafter have a period of ten (10) days from Tenant's receipt of said Offer Notice to elect in writing to lease all, and not less than all, of the Notice Space. If Tenant so elects to lease the Notice Space, then Landlord and Tenant shall enter into an amendment to this Lease whereby the Notice Space shall become a portion of the Premises and Main Premises hereunder, with the Base Rent for the Notice Space being equal to the then existing Base Rent for the Main Premises (on a rentable square foot basis) in effect as specified on Exhibit "C" attached hereto (or in the case of any Renewal Term, the then existing Base Rent in effect for the Premises for such a Renewal Term). The Notice Space shall be subject to all other terms and conditions of this Lease except that there shall be no charge for Special Rent for such Notice Space. In addition, Tenant's Pro-Rata Share shall be increased to account for the additional square footage included in the Notice Space. Provided, however, that if the commencement date of the lease of the Notice Premises by the Tenant is less than five (5) years prior to the end of the then-present Term of this Lease, Tenant shall only be entitled to lease the Notice Space if Tenant also extends the Lease Term hereunder so that the end of the then-present Term of this Lease shall be at least five (5) years following the date of the commencement of the leasing of the Notice Space by Tenant.
Appears in 2 contracts
Right of Notice. At any time prior During the term of this Lease, Tenant will have the first right ("First Right") to be notified by Landlord of the availability for lease of the following spaces: 1100 Xxxxxxxx Xxxxxxx Xxxxxx, XXITES 260/290, 255/275/285/299, 165, AND 100, (the "Expansion Spaces"). Prior to the expiration date of the a Lease Term, provided that this Lease is in full force and effect and Tenant is not in default of for any of the terms, covenants and conditions herein contained, in the event Landlord desires to lease Expansion Spaces or upon any of the remaining space in the Building to a third party Expansion Spaces otherwise becoming available through Landlord (the "Notice Space"excludes subleases), Landlord shall provide will give Tenant written notice (the "Offer Negotiation Notice"). Tenant shall have ten (10) business days from receipt of the Negotiation Notice in which to Tenant negotiate with Landlord the terms and conditions of Landlord's intent the Lease of the space referenced in the Negotiation Notice. If the parties are unable to agree on the terms and conditions of the Lease of said space within said ten (10) day period, Landlord may lease such the space described in the Negotiation Notice Space to a third party. This First Right shall not be applicable to any extension of a Lease by an existing Tenant nor to any new Lease between Landlord and any existing Tenant of any of the Expansion Spaces. This First Right shall terminate and be of no force and effect if, which Offer Notice shall include notice as at the time of the delivery to Tenant of any Negotiation Notice, Tenant is in default of the performance of any of the covenants, conditions or agreements to be performed by Tenant under the Lease. Neither party to the date on which Lease shall have the Notice Space shall become available and right to have a court or arbitrator or other third party set the amount rent or any of the Notice Space available for lease by Tenant. Tenant shall thereafter have a period of ten (10) days from Tenant's receipt of said Offer Notice to elect in writing to lease all, and not less than all, other terms of the Notice Space. If Tenant so elects to lease the Notice Space, then Landlord and Tenant shall enter into an amendment to this Lease whereby the Notice Space shall become a portion for any of the Premises Expansion Spaces. This First Right is personal to Tenant and Main Premises hereunder, with the Base Rent for the Notice Space being equal to the then existing Base Rent for the Main Premises (on may not be assigned by Tenant separately or as a rentable square foot basis) in effect as specified on Exhibit "C" attached hereto (or in the case of any Renewal Term, the then existing Base Rent in effect for the Premises for such a Renewal Term). The Notice Space shall be subject to all other terms and conditions of this Lease except that there shall be no charge for Special Rent for such Notice Space. In addition, Tenant's Pro-Rata Share shall be increased to account for the additional square footage included in the Notice Space. Provided, however, that if the commencement date of the lease of the Notice Premises by the Tenant is less than five (5) years prior to the end of the then-present Term part of this Lease, Tenant shall only be entitled to lease the Notice Space if Tenant also extends the Lease Term hereunder so that the end of the then-present Term of this Lease shall be at least five (5) years following the date of the commencement of the leasing of the Notice Space by Tenant.
Appears in 1 contract
Samples: Lease Agreement (Synon Corp)
Right of Notice. At any Landlord agrees, from time prior to time, upon written request of Tenant to advise Tenant as to space available on the expiration sixth floor (6th) of the Lease TermFacility (“Notice Space”), provided that Tenant treats such information as confidential and does not disclose said information. If during the initial or any renewal term of this Lease is in full force and effect and Tenant is not in default of any occupied area on the sixth (6th) floor of the termsFacility is vacated or to be vacated by the present tenant, covenants its successors and conditions herein containedassigns, in the event and Landlord desires to lease any of such space (subject to the remaining space in the Building to a third party (the "Notice Space"terms of Article XXV herein), Landlord shall provide written deliver a notice (the "Offer Notice") to Tenant of Landlord's such intent to lease in writing to Tenant offering to lease such space to Tenant upon the terms and conditions (including rent) as set forth in the Lease for the Premises initially demised except that (i) if the space was previously unimproved Tenant shall receive an “Allowance” per rentable square foot of the as leased Notice Space (as determined as set forth below) for tenant improvements pro rated for the number of years remaining in the initial Term from the date the term commences on the Notice Space so leased, and (ii) if the space was previously improved, the Tenant shall accept the Premises in “as-is” condition without contribution from Landlord for tenant improvements. For purposes of this Section 21.0, “Allowance” shall be determined as follows: Upon completion of Landlord’s Improvements, Landlord shall determine an “Allowance” number to be used for purposes of Section 21.0 hereof based upon the cost to Landlord of all Landlord’s Improvements to the Premises below the finished ceiling, specifically excluding from such costs (i) any amounts reimbursed by Tenant, and (ii) the amount of the Construction Allowance set forth in Section 23.1; and including an amount equal to the upgrade cost set forth in Section 23.1 (b)(8) for the executive offices, if any, added in the to be leased Notice Space. Said net amount shall be divided by the rentable area of the Premises and said amount shall be the Allowance per rentable square foot utilized in this Section 21.0. Landlord shall provide reasonable evidence documenting said costs if requested by Tenant. In addition to the Allowance, the allowance described in Section 22.0(b) shall be provided to Tenant for each rentable square foot of space so taken under this Section 21.0. Tenant shall have ten (10) business days from receipt of such notice to deliver Landlord notice that Tenant desires to execute the lease amendment with Landlord for such proposed space upon the conforming terms and conditions specified in Landlord’s notice. If Tenant fails to deliver such notice to Landlord within such ten (10) business day period or fails to execute an amendment as above provided within an additional ten (10) business day period, Landlord may lease such space to a third party, which Offer Notice . These rights of Tenant herein shall include notice become inoperative as to the date on any space in respect to which the Notice Space shall become available and Tenant does not exercise its rights to lease as set forth herein or in respect to space for which Tenant does not execute the amount of lease amendment within the Notice Space available for lease by Tenant. Tenant shall thereafter have a period of above required ten (10) days from Tenant's receipt of said Offer Notice to elect in writing to lease all, and not less than all, of the Notice Spaceday period. If Tenant so elects to lease the Notice Space, then Landlord and Tenant The Term shall enter into an amendment to this Lease whereby commence on the Notice Space to be leased the first date that said space is available for Tenant to take possession, if the space has previously been fit-up or thirty (30) days after the space is made available to Tenant if said space has not previously been improved. Landlord agrees, that Tenant shall become have the right, until July 1, 1998 to expand the Premises initially demised by up to 5,000 rentable square feet and Landlord agrees that it will retain at a portion minimum approximately 5,000 rentable square feet adjacent to the Premises (in a location acceptable to Landlord which results in a readily leasable configuration for the balance of the Premises sixth (6th) floor not leased to Tenant). Said space shall be leased to Tenant upon all of the terms, conditions and Main Premises hereunder, with the Base Rent for the Notice Space being equal to the then existing Base Rent for the Main Premises (on a rentable square foot basis) in effect as specified on Exhibit "C" attached hereto (or in the case of any Renewal Term, the then existing Base Rent in effect rent set forth herein for the Premises for such a Renewal Term). The Notice Space shall initially intended to be subject to all other terms and conditions of this Lease demised hereunder, except that there shall be no charge Section 23.1 Construction Allowance other than for Special Rent for item (b) (8), to the extent executive offices are included in such Notice Space. In addition, Tenant's Pro-Rata Share additional space and there shall be increased to account for included the additional square footage included Space Planning Allowance set forth in the Notice Space. Provided, however, that if the commencement date of the lease of the Notice Premises by the Tenant is less than five (5) years prior to the end of the then-present Term of this Lease, Tenant shall only be entitled to lease the Notice Space if Tenant also extends the Lease Term hereunder so that the end of the then-present Term of this Lease shall be at least five (5) years following the date of the commencement of the leasing of the Notice Space by TenantSection 22.0(b).
Appears in 1 contract
Samples: Lease (SoftBrands, Inc.)
Right of Notice. At any Landlord agrees, from time prior to time, upon written request of Tenant to advise Tenant as to space available on the expiration sixth floor (6th) of the Lease TermFacility ("Notice Space"), provided that Tenant treats such information as confidential and does not disclose said information. If during the initial or any renewal term of this Lease is in full force and effect and Tenant is not in default of any occupied area on the sixth (6th) floor of the termsFacility is vacated or to be vacated by the present tenant, covenants its successors and conditions herein containedassigns, in the event and Landlord desires to lease any of such space (subject to the remaining space in the Building to a third party (the "Notice Space"terms of Article XXV herein), Landlord shall provide written deliver a notice (the "Offer Notice") of such intent to lease in writing to Tenant offering to lease such space to Tenant upon the terms and conditions (including rent) as set forth in the Lease for the Premises initially demised except that (i) if the space was previously unimproved Tenant shall receive an "Allowance" per rentable square foot of the as leased Notice Space (as determined as set forth below) for tenant improvements pro rated for the number of years remaining in the initial Term from the date the term commences on the Notice Space so leased, and (ii) if the space was previously improved, the Tenant shall accept the Premises in "as-is" condition without contribution from Landlord for tenant improvements. For purposes of this Section 21.0, "Allowance" shall be determined as follows: Upon completion of Landlord's intent Improvements, Landlord shall determine an "Allowance" number to be used for purposes of Section 21.0 hereof based upon the cost to Landlord of all Landlord's Improvements to the Premises below the finished ceiling, specifically excluding from such costs (i) any amounts reimbursed by Tenant, and (ii) the amount of the Construction Allowance set forth in Section 23.1; and including an amount equal to the upgrade cost set forth in Section 23.1 (b)(8) for the executive offices, if any, added in the to be leased Notice Space. Said net amount shall be divided by the rentable area of the Premises and said amount shall be the Allowance per rentable square foot utilized in this Section 21.0. Landlord shall provide reasonable evidence documenting said costs if requested by Tenant. In addition to the Allowance, the allowance described in Section 22.0(b) shall be provided to Tenant for each rentable square foot of space so taken under this Section 21.0. Tenant shall have ten (10) business days from receipt of such notice to deliver Landlord notice that Tenant desires to execute the lease amendment with Landlord for such proposed space upon the conforming terms and conditions specified in Landlord's notice. If Tenant fails to deliver such notice to Landlord within such ten (10) business day period or fails to execute an amendment as above provided within an additional ten (10) business day period, Landlord may lease such Notice Space space to a third party, which Offer Notice . These rights of Tenant herein shall include notice become inoperative as to the date on any space in respect to which the Notice Space shall become available and Tenant does not exercise its rights to lease as set forth herein or in respect to space for which Tenant does not execute the amount of lease amendment within the Notice Space available for lease by Tenant. Tenant shall thereafter have a period of above required ten (10) days from Tenant's receipt of said Offer Notice to elect in writing to lease all, and not less than all, of the Notice Spaceday period. If Tenant so elects to lease the Notice Space, then Landlord and Tenant The Term shall enter into an amendment to this Lease whereby commence on the Notice Space to be leased the first date that said space is available for Tenant to take possession, if the space has previously been fit-up or thirty (30) days after the space is made available to Tenant if said space has not previously been improved. Landlord agrees, that Tenant shall become have the right, until July 1, 1998 to expand the Premises initially demised by up to 5,000 rentable square feet and Landlord agrees that it will retain at a portion minimum approximately 5,000 rentable square feet adjacent to the Premises (in a location acceptable to Landlord which results in a readily leasable configuration for the balance of the Premises sixth (6th) floor not leased to Tenant). Said space shall be leased to Tenant upon all of the terms, conditions and Main Premises hereunder, with the Base Rent for the Notice Space being equal to the then existing Base Rent for the Main Premises (on a rentable square foot basis) in effect as specified on Exhibit "C" attached hereto (or in the case of any Renewal Term, the then existing Base Rent in effect rent set forth herein for the Premises for such a Renewal Term). The Notice Space shall initially intended to be subject to all other terms and conditions of this Lease demised hereunder, except that there shall be no charge Section 23.1 Construction Allowance other than for Special Rent for item (b) (8), to the extent executive offices are included in such Notice Space. In addition, Tenant's Pro-Rata Share additional space and there shall be increased to account for included the additional square footage included Space Planning Allowance set forth in the Notice Space. Provided, however, that if the commencement date of the lease of the Notice Premises by the Tenant is less than five (5) years prior to the end of the then-present Term of this Lease, Tenant shall only be entitled to lease the Notice Space if Tenant also extends the Lease Term hereunder so that the end of the then-present Term of this Lease shall be at least five (5) years following the date of the commencement of the leasing of the Notice Space by TenantSection 22.0(b).
Appears in 1 contract
Samples: Lease (Fourth Shift Corp)
Right of Notice. (a) At all times during the Term (including any time prior to the expiration of the Lease TermRenewal Terms), provided that this Lease is in full force and effect and there shall then exist no Event of Default on the part of Tenant is not in default the performance of any of the terms, covenants and conditions herein contained, in the event Landlord desires to lease any contained as of the remaining date of Tenant’s exercise of its rights under this Section 19.2 or the date of Tenant’s expansion as provided herein, then, Landlord shall advise Tenant of any current or pending available space in the Building Building, at the earlier of (i) the date as of which such space becomes vacant or (ii) the date which shall be the later of the date nine (9) months prior to a third party the termination of any then existing lease or the expiration of any renewal options provided therein (such space being herein referred to as the "“Notice Space"), Landlord shall provide ” and Landlord’s written notice (the "Offer Notice") to Tenant thereof being herein referred to as a “Notice of Landlord's intent Intent to lease Lease”). Tenant shall have the right to notify Landlord in writing that Tenant is electing to expand the Premises into an area comprised of all or a portion of such Notice Space (“Tenant’s Election”) at any time before the date Landlord provides Tenant with a Landlord’s Notice (as defined below) with respect to all or a third partyportion of such Notice Space, at which Offer Notice time Tenant’s rights pursuant to this subsection (a) shall include notice cease as to the date on which space covered by the Notice Space shall become available and of Intent to Lease, subject to the amount provisions of Section 19(b) below; provided, however, if Tenant elects to expand into less than all of the Notice Space, the portion of the Notice Space available for lease by Tenant. Tenant shall thereafter have a period of ten (10) days from Tenant's receipt of said Offer Notice to elect in writing to lease all, and not less than all, of the Notice Space. If Tenant so elects to lease the Notice Space, then Landlord and Tenant shall enter into an amendment to this Lease whereby the Notice Space shall become a portion of the Premises and Main Premises hereunder, with the Base Rent for the Notice Space being equal to the then existing Base Rent for the Main Premises (on a rentable square foot basis) in effect as specified on Exhibit "C" attached hereto (or in the case of any Renewal Term, the then existing Base Rent in effect for the Premises for such a Renewal Term). The Notice Space remaining shall be subject of a size and location which is reasonably marketable and usable. Tenant’s delivery of Tenant’s Election to all other terms and conditions of this Lease except that there Landlord shall be no charge for Special Rent for such Notice Space. In addition, Tenant's Pro-Rata Share shall be increased to account for the additional square footage included in the Notice Space. Provided, however, that if the commencement date of the lease of the Notice Premises constitute an irrevocable commitment by the Tenant is less than five (5) years prior to the end of the then-present Term of this Lease, Tenant shall only be entitled to lease the Notice Space that is the subject of Tenant’s Election. At any time prior to Landlord’s receipt of Tenant’s Election, Landlord shall be free to enter into lease negotiations for the Notice Space with such third party or any other third party, free of any rights of Tenant hereunder, subject to Tenant’s rights described in the following paragraph.
(b) At any time prior to Tenant’s having exercised its rights under Section 19.2(a) with respect to any Notice Space, if Landlord enters into a letter of intent with a third party to lease such Notice Space, Landlord shall promptly provide written notice (“Landlord’s Notice”) and a copy of such letter of intent to Tenant. Tenant also extends will then have fifteen (15) days after its receipt of Landlord’s Notice to provide written notice to Landlord that Tenant intends to lease such Notice Space, which written notice shall constitute an irrevocable commitment by Tenant to lease all (and not a portion) of the Notice Space that is the subject of such letter of intent described in Landlord’s Notice on the same terms and conditions as currently in effect under this Lease. Tenant’s failure to provide such written notice within fifteen (15) days after Tenant’s receipt of Landlord’s Notice will constitute a waiver of Tenant’s rights under this Section 19.2(b), and in such event, Landlord will be free to enter into a lease with the third party for such Notice Space, free of any rights of Tenant hereunder; provided, however, notwithstanding that the Landlord may enter into a lease with a third party with respect to such Notice Space following the expiration of Tenant’s rights thereto, Landlord shall again furnish to Tenant a Notice of Intent to Lease with respect to the Notice Space on the earlier of (i) the date as of which such Notice Space shall again become vacant, or (ii) the later of the date that is nine (9) months prior to the termination of any then existing lease affecting such Notice Space or the expiration of any renewal options thereunder, and Tenant shall again have the rights with respect thereto provided herein.
(c) The following provisions shall apply to Tenant’s lease of any Notice Space pursuant to this Section 19.2:
(i) Landlord shall deliver any Notice Space to be leased by Tenant pursuant to this Section 19.2 on the date that such Notice Space is vacated by the then existing tenant; provided, however, Landlord shall use commercially reasonable efforts (including without limitation bringing an eviction action) to cause any such existing tenant to vacate such Notice Space and, if such existing tenant does not vacate such Notice Space within one hundred twenty (120) days after the termination of the then existing lease, Tenant may rescind its commitment to lease such Notice Space;
(ii) Notwithstanding anything contained herein to the contrary, the term of the Lease Term hereunder so that the end of the then-present Term of this Lease for any Notice Space shall be at least five (5) years following from the date Notice Space Commencement Date (as defined below); accordingly, in the event that there should be less than five (5) years remaining on the Term of this Lease as of the commencement Notice Space Commencement Date, then Tenant’s exercise of its expansion rights as contained in this Section 19.2 shall be conditioned upon Tenant, at Tenant’s option, either (a) simultaneously exercising its Option to Renew as contained in Section 1.2.5 hereof, or (b) simultaneously extending the then Term of this Lease to a date which is coterminous with a date which is five (5) years after the Notice Space Commencement Date;
(iii) If Tenant exercises its right to lease any Notice Space, Landlord shall deliver to Tenant within ten (10) business days after Landlord’s receipt of such notice an amendment of this Lease adding the Notice Space to the Premises demised hereunder, which amendment shall provide: (a) a description and floor plate depiction of the leasing Notice Space, the rentable area of which shall be subject to verification measurement on the same basis as set forth in Section 1.1; (b) additional annual Basic Rent shall be payable for such Notice Space in the amount of the rentable area of the Notice Space multiplied by the then current (as of the Notice Space Commencement Date) Basic Rent per rentable square foot for the Premises, subject to adjustment as provided in the Basic Terms; (c) the Tenant’s Share of Operating Expenses Percentage for the Notice Space, which shall be calculated by dividing the rentable square footage of the Notice Space by the rentable square footage of the Building; (d) the expiration date for the Notice Space, which shall be coterminous with the expiration date of the Lease as to the original Premises, subject to the immediately preceding subparagraph (ii); (e) confirmation that Tenant shall be entitled to retain and utilize and/or otherwise dispose of all then existing improvements in any such Notice Space, in addition to the Notice Space Improvement Allowance described below; (f) the Notice Space Commencement Date (as defined below); (g) any other provision that Landlord and Tenant may mutually agree upon; and (h) an express ratification of all terms and conditions of the Lease not specifically amended by such amendment; and
(iv) Landlord shall give Tenant an improvement allowance for the Notice Space Improvements (as defined below) in the same amounts and manner described in Section 19.1(f) (the “Notice Space Improvement Allowance”).
(d) Notwithstanding the foregoing, if Tenant has failed to exercise an Option to Renew within the notice period described in Section 1.2.5(d), all of Tenant’s notice rights as described in this Section 19.2 shall automatically terminate with no further action necessary by either party.
(e) So long as Miramar 75, L.L.C., or one of its Affiliates, is the Landlord, Landlord shall be the general contractor for construction of improvements for the Notice Space (the “Notice Space Improvements”). If Miramar 75, L.L.C., or one of its Affiliates, is not the Landlord under this Lease, Tenant may choose its own general contractor for the Notice Space Improvements, which general contractor must be approved by Landlord in its reasonable discretion.
(f) The Notice Space Improvements shall be constructed in accordance with and subject to the same provisions as set forth in Section 17 of this Lease (except as otherwise expressly provided in this Section 19.2), and if Tenant is entitled to choose the general contractor, the Notice Space Improvements shall be deemed Alterations subject to the terms and conditions of Article 8 to the extent such terms and conditions are not covered by or not inconsistent with Section 17; and
(g) For the purposes of this Section 19.2, the term “Notice Space Commencement Date” shall mean the following:
Appears in 1 contract
Samples: Office Lease Agreement (Royal Caribbean Cruises LTD)
Right of Notice. At any Landlord agrees, from time prior to time, upon written request of Tenant to advise Tenant as to space available on the expiration third floor of the Lease TermFacility ("Notice Space"), provided that Tenant treats such information as confidential and does not disclose said information. If during the initial or any renewal term of this Lease is in full force and effect and Tenant is not in default of any occupied area on the third (3rd) floor of the termsFacility is vacated or to be vacated by the present tenant, covenants its successors and conditions herein containedassigns, in the event and Landlord desires to lease any of such space (subject to the remaining space in the Building to a third party (the "Notice Space"terms of Article XXV herein), Landlord shall provide written deliver a notice (the "Offer Notice") of such intent to lease in writing to Tenant offering to lease such space to Tenant upon the terms and conditions (including rent) as set forth in the Lease for the Premises initially demised except that (i) if the space was previously unimproved Tenant shall receive an "Allowance" per rentable square foot of the as leased Notice Space (as determined as set forth below) for tenant improvements pro rated for the number of years remaining in the initial Term from the date the term commences on the Notice Space so leased, and (ii) if the space was previously improved, the Tenant shall accept the Premises in "as-is" condition without contribution from Landlord for tenant improvements. For purposes of this Section 21.0, "Allowance" shall be determined as follows: Upon completion of Landlord's intent Improvements, Landlord shall determine an "Allowance" number to be used for purposes of Section 21.0 hereof based upon the cost to Landlord of all Landlord's Improvements to the Premises below the finished ceiling, specifically excluding from such costs (i) any amounts reimbursed by Tenant, and (ii) the amount of the Construction Allowance set forth in Section 23.1; and including an amount equal to the upgrade cost set forth in Section 23.1 (b)(8) for the executive offices, if any, added in the to be leased Notice Space. Said net amount shall be divided by the rentable area of the Premises and said amount shall be the Allowance per rentable square foot utilized in this Section 21.0. Landlord shall provide reasonable evidence documenting said costs if requested by Tenant. In addition to the Allowance, the allowance described in Section 22.0(b) shall be provided to Tenant for each rentable square foot of space so taken under this Section 21.0. Tenant shall have ten (10) business days from receipt of such notice to deliver Landlord notice that Tenant desires to execute the lease amendment with Landlord for such proposed space upon the conforming terms and conditions specified in Landlord's notice. If Tenant fails to deliver such notice to Landlord within such ten (10) business day period or fails to execute an amendment as above provided within an additional ten (10) business day period, Landlord may lease such Notice Space space to a third party, which Offer Notice . These rights of Tenant herein shall include notice become inoperative as to the date on any space in respect to which the Notice Space shall become available and Tenant does not exercise its rights to lease as set forth herein or in respect to space for which Tenant does not execute the amount of lease amendment within the Notice Space available for lease by Tenant. Tenant shall thereafter have a period of above required ten (10) days from Tenant's receipt of said Offer Notice to elect in writing to lease all, and not less than all, of the Notice Spaceday period. If Tenant so elects to lease the Notice Space, then Landlord and Tenant The Term shall enter into an amendment to this Lease whereby commence on the Notice Space shall become a portion of to be leased the Premises and Main Premises hereunderfirst date that said space is available for Tenant to take possession, with the Base Rent for the Notice Space being equal to the then existing Base Rent for the Main Premises (on a rentable square foot basis) in effect as specified on Exhibit "C" attached hereto (or in the case of any Renewal Term, the then existing Base Rent in effect for the Premises for such a Renewal Term). The Notice Space shall be subject to all other terms and conditions of this Lease except that there shall be no charge for Special Rent for such Notice Space. In addition, Tenant's Pro-Rata Share shall be increased to account for the additional square footage included in the Notice Space. Provided, however, that if the commencement date of space has previously been fit-up or thirty (30) days after the lease of the Notice Premises by the space is made available to Tenant is less than five (5) years prior to the end of the then-present Term of this Lease, Tenant shall only be entitled to lease the Notice Space if Tenant also extends the Lease Term hereunder so that the end of the then-present Term of this Lease shall be at least five (5) years following the date of the commencement of the leasing of the Notice Space by Tenantsaid space has not previously been improved.
Appears in 1 contract
Samples: Lease (Fourth Shift Corp)