Right to Expand Sample Clauses
The Right to Expand clause grants a party, typically a tenant in a commercial lease, the option to increase the amount of leased space under certain conditions. This right may specify the timing, method, and terms under which additional space can be claimed, such as requiring written notice or limiting the expansion to adjacent units. Its core practical function is to provide flexibility for growing businesses, ensuring they can secure more space as their needs evolve without renegotiating the entire lease or risking losing desired premises to other tenants.
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Right to Expand. (a) Expansion in the Building. Tenant shall, during the Base Term, have the one-time right, but not the obligation, to expand the Premises (the “Expansion Right”) to include the Expansion Space upon the terms and conditions set forth in this Section. For purposes of this Section 39(a), “Expansion Space” shall mean that certain space immediately adjacent to the Premises, consisting of approximately 3,168 rentable square feet, as shown on Exhibit G, which is not occupied by a tenant or which is occupied by a then-existing tenant whose lease is expiring within 9 months or less and such tenant does not wish to renew (whether or not such tenant has a right to renew) its occupancy of such space. If there is any Expansion Space in the Building, Landlord shall, within a reasonable period, deliver to Tenant written notice (the “Expansion Notice”) of such Expansion Space, together with the terms and conditions on which Landlord is prepared to lease Tenant the Expansion Space; provided that Base Rent for the Available Space shall be at the Market Rate (as defined in Section 40(a) below). Tenant shall be entitled to exercise its right under this Section 39(a) only with respect to the entire Expansion Space. Tenant shall have 10 days following delivery of the Expansion Notice to deliver to Landlord written notification of Tenant’s exercise of the Expansion Right (“Exercise Notice”). Tenant shall be entitled to lease the Expansion Space upon the terms and conditions set forth in the Expansion Notice. If Landlord and Tenant are unable to agree on the Market Rate for the Expansion Space after negotiating in good faith within 5 days after Tenant’s delivery of an Exercise Notice, the applicable Market Rate will be determined through arbitration in accordance with Section 40(b) below. Tenant acknowledges that the Term of the Lease with respect to the Expansion Space shall be co-terminous with the Term of the Lease with respect to the then-existing Premises. Notwithstanding anything to the contrary contained herein, Tenant shall have no right to exercise the Expansion Right and the provisions of this Section 39(a) shall no longer apply after the date that is 10 months prior to the expiration of the Base Term if Tenant has not exercised its Extension Right pursuant to Section 40. If Tenant fails to deliver an Exercise Notice to Landlord for the Expansion Space within the required 10 day period, Tenant shall be deemed to have waived its right under this Section 39(a) to lease t...
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. 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. 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. Section 40 of the Lease is hereby deleted in its entirety and is of no further force and effect.
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. 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. (a) Section 39(a) of the Lease is hereby deleted in its entirety and replaced with the following:
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 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.