Right to Expand. Landlord hereby grants Tenant a right to expand into the, “Shared Services Space”, which is shown on Exhibit L to this Lease. If the SBRI Lease or SBRI’s or its successor’s occupancy under the SBRI Lease terminates as to any or all of the Shared Facilities Space, Landlord shall first offer such space to Tenant on the terms in this Paragraph 6. If Landlord offers any or all of the Shared Services Space, Tenant shall have the option to expand by leasing all but not less than all of the available Shared Services Space. Such option shall be exercisable only by written notice within 30 days after Landlord’s notice. Upon such exercise, Landlord and Tenant shall enter into an amendment of this Lease under which the Premises is expanded to include the Shared Services Space, with Base Rent for the Shared Services Space being equal to 57% of Tenant’s Base Rent per RSF for floors 2 and 3 as is then in effect under this Lease, and Tenant’s Proportionate Share shall be increased to reflect the expansion of the Premises. If the Shared Facilities to be leased includes the Generator, the Lease amendment shall further provide that Tenant shall make the generator available to provide back-up power for the fire and life safety systems serving the Building (including elevator, elevator pressurization, emergency lighting). During the Term of the Lease, Landlord shall reimburse Tenant for 15% of the annual maintenance, repair and replacement expenses incurred by Tenant in connection with such equipment; such reimbursement to be made promptly following Landlord’s receipt of written invoices therefor. Tenant shall be responsible for ensuring that all such equipment complies with all applicable Governmental Requirements. If Tenant does not exercise its right to expand into the Shared Services Space within 30 days after Landlord’s notice, then Tenant shall have no further right to expand into any of the Shared Services Space.
Right to Expand. Provided the Lease is in full force and effect, and further provided the Tenant is STRONG/MDI SCREEN SYSTEMS, INC. itself personally, has not assigned the Lease or the subleased the Premises, or a portion thereof, is not then in default of executing its obligations under the Lease, and has obtained all necessary governmental or municipal permits, licences and authorizations, the Tenant shall have throughout the Term the ongoing right to expand the Premises (the “Right to Expand”), at its cost, either by (i) the construction of an expansion to the Building, or (ii) constructing an additional building on the Land (the “Expansion Premises”), the whole in accordance with the terms and conditions of Section 6.2
Right to Expand. Section 39 of the Lease is hereby deleted in its entirety and is null and void and of no further force or effect and Tenant has no right to expand the Premises.
Right to Expand. (a) Section 39(a) of the Lease is hereby deleted in its entirety and replaced with the following:
Right to Expand. Provided that the Tenant is not then in default and has not been habitually in default throughout the Term, the Tenant shall have the right to expand into, and the Landlord shall have an obligation to build, the Expansion Premises shown on Schedule "A-1" containing a leaseable area of approximately 48,000 square feet. Alternatively, the Tenant shall have the right to exercise its expansion rights only in respect of the warehouse portion of the Expansion Premises comprising approximately 38,000 square feet. The annual rental rate for the Expansion Premises shall be determined by multiplying the cost of the Expansion Premises by eight (8%) percent. The costs of the Expansion Premises will be agreed to by both the Landlord and the Tenant, prior to the commencement of construction, both acting reasonably which costs shall, in any event, include all hard, soft and development fees of the Landlord. The right to expand can only be exercised during the first seven (7) years of the original term and then only if the Tenant concurrently exercises its right of extension for the original premises; provided however that if the right to expand is exercised following the expiry of the fifth year of the original term, the extension term shall be deemed to be increased by the number of days in the period between the first day of the sixth year of the original term and the date upon which the right to expand is exercised by the Tenant. Notwithstanding the foregoing, the Landlord's obligation to construct the expansion shall be conditional on: (i) the Tenant's financial covenant and standing being substantially as good as it was on the commencement date of the Amram's Lease; (ii) the Landlord being able to obtain a building permit and all development approvals; and (iii) the Landlord being able to obtain the consent of its lender, which consent the Landlord shall use reasonable commercial efforts to obtain.
Right to Expand. At any time during the Term, prior to Lessor receiving a bona-fide third party offer to Lease the space shown on Exhibit F, and so long as Lessee is not then in default under this Lease, Lessee shall have the right to Lease any or all of the Additional Space on the same Rental Terms as applies to the Demised Premises. Lessor and Lessee agree that this Lease shall be amended to include such additional space into Article I, Section 2. All other terms and conditions shall remain unchanged.
Right to Expand. Provided Tenant is not in default hereunder, during the term of the Lease, Tenant shall have the exclusive option to expand on the Building and may do so, if at Tenant’s sole expense, without incurring any increase in rent. The parties will in mutual agreement and in good faith agree on all terms and conditions necessary concerning the expansion of the Building. Notwithstanding anything to the contrary, Landlord makes no representation, covenant or commitment to pay for any Building expansion.
Right to Expand. Subtenant shall have the ongoing option to expand the Sublease Premises into any remaining portion of the Premises upon the same terms and conditions as this Sublease including, but not limited to, acceptance of the additional Premises in “as is” condition. Subtenant may exercise this expansion option at any time upon 30 days’ prior written notice (“Zebra Expansion Notice”). Sublandlord shall have no right to sublease any portion of the Premises to any other subtenant without the prior written approval of Subtenant, which shall not be unreasonably withheld or delayed. Notwithstanding the foregoing, in the event that the Prime Lease is terminated with respect to any portion of the Premises, Subtenant releases Sublandlord from any liability (economic or otherwise) for such portion of the Premises.
Right to Expand. Provided Lessee is not in Default of any obligations as described by this Lease, Lessee shall have the right, at any time during the Term, to expand its Premises within Lessor’s portfolio.
Right to Expand. The Condominium Project is an expandable condominium project, as that term is defined in the Act. The Condominium Project established pursuant to this initial Master Deed, and consisting of sixty-three (63) units, may be the first phase of a multi phase which will contain in its entirety no more than three hundred sixty (360) units. The Developer, for itself and its successors and assigns, hereby explicitly reserves the right to expand the Condominium Project without the consent of any of the Co-Owners. This right may be exercised without any limitations whatsoever, except as expressly provided in this Article IX. The additional land, all or any portion of which may be added to the Condominium Project, is situated in the Townships of Xxxxxxx and Xxxxxx, county of Antrim and State of Michigan, and described as follows, viz: Part of South 1.2 of Sections 34 and 35, Township 30 North, Range 7 West, Xxxxxxx Township, and Sections 4 and 5 Township 29 North, Range 7 West, Xxxxxx Township, Antrim County, Michigan, which is more particularly described as follows:
