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.
Appears in 3 contracts
Samples: Sublease Agreement (Juno Therapeutics, Inc.), Sublease Agreement (Juno Therapeutics, Inc.), Sublease Agreement (Juno Therapeutics, Inc.)
Right to Expand. Landlord hereby grants As of the Commencement Date, provided the Tenant a right to expand into the, “Shared Services Space”, which physically occupies and actively carries on business in the entire Leased Premises and provided Tenant is shown on Exhibit L to this Lease. If the SBRI Lease or SBRI’s or not then in default of its successor’s occupancy obligations under the SBRI Lease terminates as to any or all of Lease, 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 right to expand by leasing all the Leased Premises (the “Right to Expand”) and lease any vacant and available space in the Building at the time Tenant exercises its Right to Expand (the “Expansion Space”), the whole under the same terms and conditions as exist under the Lease, subject to the following terms and conditions:
(i) the Tenant is required to send a written notice (the “Expansion Notice”) to Landlord exercising its Right to Expand into the Expansion Space indicating the occupation date and the space in question (the “Expansion Occupation Date”), which Expansion Notice shall be sent to Landlord no later than sixty (60) days but not less earlier than all of ninety (90) days prior to Expansion Occupation Date indicated in the available Shared Services Space. Such option Expansion Notice, and which Expansion Occupation Date shall in no event be later than June 1, 2019;
(ii) the Basic Rent payable for the Expansion Space shall be exercisable only same as the current Basic Rent then payable by written notice within 30 days after Landlord’s notice. Upon such exercise, Landlord and Tenant for the Leased Premises subject to any increases thereof as are contemplated in the Lease; the Tenant shall enter into an amendment be entitled to a rental credit and leasehold improvements allowance (as provided in Paragraphs 1.0 and 3.0 of this Lease under Schedule “F”) which shall however be calculated on a pro rata basis over 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 remaining Term of the LeaseLease for the Expansion Space, Landlord shall reimburse Tenant for 15% proportional to the rentable area of the annual maintenanceExpansion Space;
(iii) the term for the Expansion Space shall be co-terminous with the Term for the Leased Premises;
(iv) the Tenant shall have the right to use the existing equipment then in the Expansion Space, repair if any, on the same terms and replacement expenses incurred by Tenant in connection with such conditions applicable to the equipment; such reimbursement and
(v) the Tenant shall accept the Expansion Space “as is, where is” without any work to be made promptly following performed by Landlord’s receipt of written invoices therefor. Tenant shall be responsible for ensuring that all such equipment complies with all applicable Governmental Requirements. If In the event Tenant does not exercise its right Right to expand into Expand by prior written notice to the Shared Services Space Landlord within 30 days after Landlord’s noticethe prescribed delay and in the manner indicated above, then Tenant the Right to Expand shall have lapse and be null and void and of no further right effect. The Right to expand into Expand is (i) conditional upon Tenant being in good standing under the Lease at the relevant time; (ii) is subject to any pre-existing rights of third parties to lease the space in question; (iii) does not apply where Landlord renews or extends any existing or future lease of the Shared Services Spacespace in question; (iv) ceases to apply if the Tenant assigns the Lease or sublets the Leased Premises in whole or in part or ceases to occupy the Leased Premises; (v) is not assignable or transferable in any way; and (vi) does not apply where the space in question is subject to a sublease or assignment of lease, or where Landlord is relocating a tenant into such space.
Appears in 2 contracts
Samples: Lease (Repare Therapeutics Inc.), Lease (Repare Therapeutics Inc.)
Right to Expand. Landlord hereby grants Tenant a right to expand into the, “Shared Services Space”, which is shown on Exhibit L to (a) During the term of 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 right of first offer (all space to expand by leasing be offered to Tenant first) on all but space in the Building as it becomes available for rent, at the same rental rate and upon the same terms and conditions as Landlord, reasonably and in good faith, intends to offer such space for rent to the public. Landlord shall deliver a written offer to Tenant ("Landlord's Offer") when Landlord becomes aware that space in the Building will be available for rent describing the space and setting forth the rental rate and other terms that Landlord would be willing to accept from Tenant, which rate and terms shall be the same rate and terms as Landlord, reasonably and in good faith, intends to offer such space for rent to the public should Tenant not less than all accept the offer.
(b) The right of the available Shared Services Space. Such option first offer shall be exercisable only by upon the following terms and conditions:
(i) Promptly after receipt of Landlord's Offer, Tenant shall give Landlord a verbal indication of whether or not Tenant is interested in the space and, if interested, shall deliver a written notice within 30 acceptance or a counter offer to Landlord not later than thirty (30) days after Tenant's receipt of Landlord’s notice. Upon such exercise, Landlord and 's Offer; and
(ii) Tenant shall enter into an amendment not be in default under this Lease at the time of exercise of the right of first offer, nor at any time thereafter until Tenant takes possession of the additional space.
(c) Should Tenant elect not to accept Landlord's Offer, and should Landlord subsequently, reasonably and in good faith, decide to lower the rental rate below the rate previously offered to Tenant (including offering free rent or reduced rent for a longer period of time than previously offered to Tenant), then Landlord shall first offer the space to Tenant at the lower rental rate, and thereafter the same conditions and procedures shall apply and be followed by the parties as outlined in the preceding paragraphs 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 SpaceSection.
Appears in 1 contract
Samples: Lease Agreement (Cross Country Inc)
Right to Expand. a. Landlord hereby grants to Tenant a the one-time right (the "Expansion Option") during the Term to expand into the, “Shared Services the Building up to fifty thousand (50,000) rentable square feet (but no less than thirty thousand (30,000) rentable square feet) (the "Expansion Space”, which is ") within the Expansion Space Area shown on Exhibit L G attached to this Lease, in accordance with plans and specifications for same (the "Expansion Improvements Plans") approved by Tenant and Landlord and all applicable governmental authorities with jurisdiction over the Property. If The Expansion Option shall not include the SBRI Lease right to increase the rentable square feet contained within the Building on its current footprint by adding mezzanines or SBRI’s or its successor’s occupancy under the SBRI Lease terminates as to any or otherwise, all of which additions being subject to the Shared Facilities Space, Landlord shall first offer such space to Tenant on the terms in provisions of Section 13 of 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 Lease.
b. The Expansion Option shall be exercisable only exercised by Tenant, if at all, by written notice within 30 days (the "Expansion Exercise Notice") delivered to Landlord at any time after Landlord’s noticethe Commencement Date, provided however that if the Expansion Exercise Notice is given at a time when fewer than six years remain in the then current Term, the then current Term shall be extended to the last day of the month in which occurs the fifth anniversary of the date that Tenant takes occupancy of the improved Expansion Space (exclusive of any unexpired renewal terms, which shall remain in effect) . Upon such exerciseThe Expansion Option may only be exercised by the named Tenant hereunder or an Affiliate assignee of the named Tenant.
c. During the sixty (60) day period following Tenant's Expansion Exercise Notice, Landlord and Tenant shall enter into an amendment negotiate the details of this Lease under which the Premises is expanded to include the Shared Services Space, with Base construction and Fixed Basic Rent for the Shared Services Expansion Space. If the parties are unable to reach agreement within said sixty (60) day period, then at its option Tenant may, upon acquisition of necessary governmental permits and approvals, construct its addition within the Expansion Space being equal at Tenant's own expense subject only to 57% Landlord's approval of Tenant’s Base the Expansion Improvements Plans, which approval shall not be unreasonably withheld, conditioned or delayed as long as the addition is structurally sound with an exterior reasonably complementary to the rest of the Building, and Tenant may occupy the Expansion Space without increase in the Fixed Basic Rent per RSF for floors 2 and 3 as is then in effect under until the expiration of the Term of this Lease, and Tenant’s Proportionate Share whereupon such improvements shall be increased to reflect become the expansion property 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 Spacewithout compensation.
Appears in 1 contract
Samples: Lease (Animas Corp)
Right to Expand. Landlord hereby grants (a) Expansion in the Project. Tenant a right shall have the right, but not the obligation, to expand into thethe Premises (the "Expansion Right") to include the Available Space in the Project upon the terms and conditions in this Section. For purposes of this Section 39(a) "Available Space" shall mean all of that that certain space contiguous to the Premises consisting of approximately 5,705 rentable square feet , “Shared Services Space”, which is as shown on Exhibit L to this LeaseG attached hereto. If Tenant elects to exercise the SBRI Lease Expansion Right, Tenant shall, on or SBRI’s or before October 1, 2009 ("Expansion Right Expiration Date"), deliver written notice to Landlord of its successor’s occupancy under election to exercise the SBRI Lease terminates as Expansion Right ("Tenant Expansion Exercise Notice"). If, prior to any or all Tenant's delivery of a Tenant Expansion Exercise Notice to Landlord and prior to the Shared Facilities Expansion Right Expiration Date, Landlord intends to accept a proposal from a third party to lease the Available Space, Landlord shall first offer such space deliver to Tenant on the terms in this Paragraph 6. If Landlord offers any or all a written notice of the Shared Services Spaceexistence of such proposal ("Proposal Notice"). Within 5 business days after Tenant's receipt of the Proposal Notice, Tenant shall have deliver to Landlord written notice (the option "Acceptance Notice") if Tenant elects to expand by leasing all but not less than all of lease the available Shared Services Available Space. Such option If Tenant elects to lease the Available Space by delivering a Tenant Expansion Exercise Notice or an Acceptance Notice, as applicable, within the required time periods, Tenant shall be exercisable only deemed to agree to lease the Available Space on the same terms and conditions as this Lease except, that the terms of this Lease shall be modified as follows: (i) tenant improvements within the Available Space, acceptable to Landlord in Landlord's reasonable discretion, shall be constructed in accordance with a work letter entered into by written notice within the parties, each in their sole and absolute discretion, which work letter shall provide that (1) the parties shall cause a space plan for the Available Space, acceptable to Landlord in Landlord's reasonable discretion, to be finalized no later than 30 days after Tenant's delivery of the Tenant Expansion Exercise Notice or the Acceptance Notice to Landlord’s notice. Upon , (2) Landlord shall provide a tenant improvement allowance ("Available Space TI Allowance") for the construction of tenant improvements in the Available Space of up to $20.00 per rentable square foot of the Available Space and an Additional TI Allowance, subject to the terms of such exercisework letter, Landlord of up to $5.00 per rentable square foot of the Available Space which shall be fully amortized over the remainder of the Term pursuant to Section 4(b) of this Lease, and (3) Tenant shall enter into an amendment have no obligation to construct any tenant improvements in the Available Space; 00 the definition of this Lease under which the Premises is expanded shall be amended to include the Shared Services Available Space; (iii) Tenant's Share of Operating Expenses for the Building and Tenant's Share of Operating Expenses for the Project shall be increased based upon the addition of the Available Space to the Premises, (iv) the amount of Base Rent payable for the Available Space shall be equal to the amount of Base Rent on a per square foot basis being paid by Tenant with respect to the Premises as of the date that Tenant commences paying Base Rent for the Shared Services Space being equal to 57% Available Space, excluding any rent abatement provided for in clauses (i) and (ii) of Tenant’s Base Rent per RSF for floors 2 and 3 as is then in effect under Section 3(a) of this Lease, and Tenant’s Proportionate Share (vi) Tenant shall be increased commence paying Base Rent and Operating Expenses for the Available Space on the date Landlord delivers the Available Space to reflect Tenant with the expansion tenant improvements in the Available Space substantially completed. The term of the Premises. If Lease with respect to the Shared Facilities to be leased includes the Generator, the Lease amendment Available Space 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 commence immediately upon mutual execution of the Lease, Landlord shall reimburse Tenant for 15% of the annual maintenance, repair and replacement expenses incurred by Tenant amendment described 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 SpaceSection 39(b) below.
Appears in 1 contract
Samples: Lease Agreement (BioCardia, Inc.)
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 (a) Expansion on the terms in this Paragraph 6Second Floor. If Following the first time that Landlord offers any or all of leases the Shared Services SpaceSecond Floor Expansion Space to a third party, Tenant shall have a on-going right during the option Base Term, but not the obligation, subject to the terms of this Section 39(a), to expand the Premises (the “Expansion Right”) to include the Second Floor Expansion Space upon the terms and conditions in this Section 39(a). For purposes of this Section 39(a), “Second Floor Expansion Space” shall mean any space on the second floor of the Building, which is not occupied by leasing all but a tenant, or which is occupied by a then-existing tenant whose lease is expiring within 6 months or less and such tenant does not less than wish to renew (whether or not such tenant has a right to renew) its occupancy of such space, or which is occupied by a then-existing tenant whose lease is terminating prior to its scheduled expiration date. If there is any Second Floor Expansion Space in the Building, Landlord shall, at such time as Landlord shall elect prior to marketing such Second Floor Expansion Space for lease by third parties, deliver to Tenant written notice (the “Expansion Notice”) of such Second Floor Expansion Space, together with the terms and conditions on which Landlord is prepared to lease Tenant such Second Floor Expansion Space. For the avoidance of doubt, Tenant shall be required to exercise its right under this Section 39(a) with respect to all of the available Shared Services Space. Such option space described in the Expansion Notice, including any space in addition to the Second Floor Expansion Space that is described in the Expansion Notice, which additional space shall be exercisable only by written notice within 30 days after Landlord’s notice. Upon such exercise, Landlord deemed to ***Confidential Treatment Requested*** ***Text Omitted and Tenant shall enter into an amendment of this Lease under which Filed Separately with 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 Securities 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.Exchange Commission Confidential Treatment Requested Under
Appears in 1 contract
Samples: Lease Agreement
Right to Expand. Landlord hereby grants Tenant a right Lessor currently leases the building adjacent to expand into the, “Shared Services Space”, the Premises which is comprised of approximately 17,000 rentable square feet, as such premises are shown on Exhibit L C attached hereto and made a part hereof (“Expansion Space”) to this Leasea third party tenant pursuant to a lease which is scheduled to expire on May 7, 2002. Lessor hereby grants to Lessee the right to lease the Expansion Space (“Expansion Right”) upon the terms and conditions contained herein. Lessee shall exercise the Expansion Right by providing written notice thereof to Lessor on or before February 1, 2002. If Lessee exercises 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 SpaceExpansion Right, Landlord Lessor and Lessee 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 promptly thereafter enter into an amendment of to this Lease under which shall provide the Premises is expanded following: (i) the commencement date for the Expansion Space shall be May 1, 2002 (“Expansion Space Commencement Date”); (ii) the Expansion Space shall be included into the term “Premises” as used in this Lease from and after the Expansion Space Commencement Date; (iii) the monthly Base Rent shall be increased to include the Shared Services Expansion Space, with at the same per rentable square foot rate then in effect for the Premises; (iv) Lessee shall receive a rental abatement equal to 50% of the Base Rent for the Shared Services Expansion Space being for a period of three (3) months following the Expansion Space Commencement Date if Lessee performs tenant improvements in the Expansion Space; (v) Lessor shall pay Lessee a tenant improvement allowance equal to 57% $5 per rentable square foot within the Expansion Space (i.e., up to the amount of Tenant’s Base Rent per RSF for floors 2 $85,000), which shall be payable by Lessor upon demand, which demand shall be accompanied by an invoice and 3 evidence of payment of the relevant items; (vi) Lessee shall have the same rights with respect to the build-out and surrender of the Expansion Space as is then in effect under this Leaseapplicable to the Premises, and Tenant’s Proportionate Share shall be increased to reflect wherever 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 term “Initial Lessee Improvements” is used within the Lease, Landlord it shall reimburse Tenant for 15% be deemed to include the initial tenant improvements made by Lessee within the Expansion Space; and (vii) Lessee shall have the right to construct a second floor within the Expansion Space (“Second Floor”), and if Lessee elects to construct the Second Floor, then (a) Lessor shall provide Lessee with a tenant improvement allowance equal to $5 per rentable square foot within the Second Floor, and (b) there shall be no increase in the Base Rent to reflect any increase in the size 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 Expansion Space within 30 days after Landlord’s notice, then Tenant shall have no further right to expand into any as a result of the Shared Services Spaceconstruction of the Second Floor. LESSOR: LESSEE: CALIFORNIA DEVELOPMENT, INC., A CALIFORNIA CORPORATION CERUS CORPORATION, A DELAWARE CORPORATION By: /s/ XXXXXX X. XXXXXXXX By: /s/ XXXXXX XXXXX Its: Pres. Its: V.P., Legal Affairs
7. EXHIBIT A
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease Net (Cerus Corp)
Right to Expand. Landlord hereby grants Provided that no Event of Default without cure by Tenant a right to expand into thehas occurred and is then continuing, “Shared Services Space”, which is shown on Exhibit L to this Lease. If either at the SBRI Lease or SBRI’s or its successor’s occupancy under the SBRI Lease terminates as to any or all time of exercise of the Shared Facilities Space, Landlord shall first offer such space to Tenant on expansion right granted herein or at the terms in this Paragraph 6. If Landlord offers any or all time of the Shared Services Space, Tenant shall have the option to expand by leasing all but not less than all commencement 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 noticeexpansion, then Tenant shall have no further the right to expand into any lease the space in the Building shown on Exhibit A-1 attached hereto (the “Expansion Space”), in accordance with and subject to the provisions of this Section 2.4 (the “Expansion Right”). Tenant shall exercise its Expansion Right by and only by delivering to Landlord, not later than December 31, 2007, Tenant’s irrevocable written notice (the “Expansion Notice”) of its commitment to lease the Expansion Space. The Expansion Space shall be leased to Tenant with new paint and carpet improvements only and with the Term of the Shared Services Lease as to the Expansion Space being coterminous with the Term of this Lease as to the Premises, but the Basic Rent payable for the Expansion Space shall be determined as provided in the following provisions. If Landlord and Tenant have not by then been able to agree upon the Basic Rent for the Expansion Space, then within thirty (30) days following its receipt of the Expansion Notice, Landlord shall notify Tenant in writing of the Basic Rent that would reflect the prevailing market rental rate for the lease of comparable space in the Project to the Expansion Space (together with any increases thereof during the Term) (“Landlord’s Expansion Space Determination”). Should Tenant disagree with the Landlord’s Expansion Space Determination, then Tenant shall, not later than twenty (20) days thereafter, notify Landlord in writing of Tenant’s determination of those rental terms (“Tenant’s Expansion Space Determination”). Within ten (10) days following delivery of the Tenant’s Expansion Space Determination, the parties shall attempt to agree on an appraiser to determine the fair market rental. If the parties are unable to agree in that time, then each party shall designate an appraiser within ten (10) days thereafter. Should either party fail to so designate an appraiser within that time, then the appraiser designated by the other party shall determine the fair market rental. Should each of the parties timely designate an appraiser, then the two appraisers so designated shall appoint a third appraiser who shall, acting alone, determine the fair market rental for the Expansion Space. Any appraiser designated hereunder shall have an MAI certification with not less than five (5) years experience in the valuation of commercial industrial buildings in the vicinity of the Project. Within thirty (30) days following the selection of the appraiser and such appraiser’s receipt of the Landlord’s Expansion Space Determination and the Tenant’s Expansion Space Determination, the appraiser shall determine whether the rental rate determined by Landlord or by Tenant more accurately reflects the fair market rental rate for the Expansion Space. Accordingly, either the Landlord’s Expansion Space Determination or the Tenant’s Expansion Space Determination shall be selected by the appraiser as the fair market rental rate for the Expansion Space. In making such determination, the appraiser shall consider rental comparables for the Project (provided that if there are an insufficient number of comparables within the Project, the appraiser shall consider rental comparables for similarly improved space owned by Landlord in the vicinity of the Project with appropriate adjustment for location and quality of project), but the appraiser shall not attribute any factor for market tenant improvement allowances or brokerage commissions in making its determination of the fair market rental rate. At any time before the decision of the appraiser is rendered, either party may, by written notice to the other party, accept the rental terms submitted by the other party, in which event such terms shall be deemed adopted as the agreed fair market rental. The fees of the appraiser(s) shall be borne entirely by the party whose determination of the fair market rental rate was not accepted by the appraiser. Within twenty (20) days after the determination of the fair market rental, Landlord shall prepare an appropriate amendment to this Lease for the Expansion Space, and Tenant shall execute and return same to Landlord within ten (10) days after Tenant’s receipt of same. If Tenant fails to timely exercise the Expansion Right granted herein within the time period expressly set forth for exercise by Tenant in the initial paragraph of this Section 2.4, Tenant’s Expansion Right shall be extinguished without further liability to Landlord. Tenant’s rights under this Section 2.4 shall belong solely to Netlist, Inc., a Delaware corporation, and may not be assigned or transferred by it (except in connection with a “Permitted Transfer” as defined in Section 9.4 of this Lease), and any attempted assignment or transfer of such rights (except in connection with a Permitted Transfer) shall be void and of no force and effect.
Appears in 1 contract
Samples: Lease (Netlist Inc)
Right to Expand. Landlord hereby grants (a) Tenant a right shall have the right, but not the obligation, to expand into the, “Shared Services Space”, which is shown on Exhibit L the Premises (the "EXPANSION RIGHT") to this Leaseinclude any space available in the building located at 9373 Towne Centre Drive (the "EXPANSION SPACE") upon the terms and cxxxxxxxxx xx xxxx Xxxxxon. If Vical Inc., does not exercise any of its extension rights with respect to 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 Expansion Space, Landlord shall first offer such space deliver to Tenant on written notice (the "EXPANSION NOTICE") of the availability of the Expansion Space, together with the terms in this Paragraph 6. If and conditions on which Landlord offers any or all is prepared to lease to Tenant such portion of the Shared Services Expansion Space. Tenant shall have 10 business days following delivery of the Expansion Notice to deliver to Landlord written notification of Tenant's exercise of the Expansion Right and Tenant's acceptance of the terms and conditions set forth in the Expansion Notice.
(b) If: (i) Tenant fails to timely deliver notice accepting the terms of an Expansion Notice, or (ii) after the expiration of a period of 10 days from the date Tenant gives notice accepting Landlord's offer to lease such Expansion Space, no lease amendment or lease agreement for the Expansion Space has been executed, and Landlord tenders to Tenant an amendment to this Lease setting forth the terms for the rental of the Expansion Space consistent with those set forth in the Expansion Notice and otherwise consistent with the terms of this Lease and Tenant fails to execute such Lease amendment within 10 business days following such tender, Tenant shall be deemed to 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 waived 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 lease such Expansion Space.
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Right to Expand. (a) Expansion to Laboratory Space on the First Floor and Office Space on the Third Floor of Building. Subject to rights granted prior to the date hereof to Third Rock Ventures, LLC pursuant to a separate agreement, each time during the Base Term that Landlord hereby grants Tenant intends to accept a written proposal (the “Pending Deal”) to lease the Available Space (as hereinafter defined) to a third party other than an existing tenant of the Available Space regardless of whether such existing tenant has a right to expand into the, “Shared Services Space”, which is shown on Exhibit L extend its lease with respect 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 Available Space, Landlord shall first offer such space deliver to Tenant on written notice (the terms in this Paragraph 6. If Landlord offers any or all “Pending Deal Notice”) of the Shared Services existence of such Pending Deal. For purposes of this Section 36(a), “Available Space” shall mean those certain portions of the first floor and the third floor of the Project shown on Exhibit K. Tenant shall be entitled to exercise its right under this Section 36(a) only with respect to the entire Available Space described in such Pending Deal Notice. Within 7 days after Tenant’s receipt of the Pending Deal Notice, Tenant shall have deliver to Landlord written notice (the option “Space Acceptance Notice”) if Tenant elects to expand by leasing all but not less than all of lease the available Shared Services Available Space. Such option Tenant’ s right to receive the Pending Deal Notice and election to lease or not lease the Available Space pursuant to this Section 36(a) is hereinafter referred to as the “Right of First Refusal.” If Tenant elects to lease the Available Space described in the Pending Deal Notice by delivering the Space Acceptance Notice within the required 7 day period, Tenant shall be exercisable only by written notice within 30 days after Landlord’s notice. Upon such exercise, Landlord deemed to agree to lease the Available Space on the same general terms and Tenant shall enter into an amendment conditions as this Lease except that the terms 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 modified to reflect the expansion terms of the Pending Deal. The term of the Lease with respect to the Available Space shall be the term of the Pending Deal, which Tenant acknowledges and agrees may not be co-terminous with the Term of this Lease with respect to the Premises. Notwithstanding anything to the contrary contained herein, in no event shall the Work Letter apply to the Available Space. If Tenant fails to deliver a Space Acceptance Notice to Landlord within the Shared Facilities to be leased includes the Generatorrequired 7 day period, 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 deemed to have waived its rights under this Section 36(a) with all applicable Governmental Requirements. If Tenant does not exercise its right respect to expand into the Shared Services Available Space within 30 days after Landlord’s notice, then Tenant identified in the Pending Deal Notice and the provisions of this Section 36(a) shall have no further right longer apply to expand into any of the Shared Services SpaceAvailable Space identified in the Pending Deal Notice.
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Right to Expand. (a) Each time during the Base Term of the Lease that Landlord hereby grants intends to agree to a written proposal or Landlord delivers a counter proposal which is accepted (the “Pending Deal”) to lease the ROFR Space (as hereinafter defined) to a third party, Landlord shall deliver to Tenant written notice (the “Pending Deal Notice”) of the existence of such Pending Deal. For purposes of this Section 39(a), “ROFR Space” shall mean that certain portion of the Building commonly known as Suite 100, containing approximately 14,503 rentable square feet, which is not occupied by a tenant or which is occupied by a then existing tenant and such tenant does not wish to renew (whether or not such tenant has a right to expand into the, renew) its occupancy of such space. Tenant shall be entitled to exercise its right under this Section 39(a) only with respect to the entire ROFR Space described in such Pending Deal Notice (“Shared Services Identified Space”, which is shown on Exhibit L to this Lease). If the SBRI Lease or SBRIWithin 3 days after Tenant’s or its successor’s occupancy under the SBRI Lease terminates as to any or all receipt 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 SpacePending Deal Notice, Tenant shall have deliver to Landlord written notice (the option “Space Acceptance Notice”) if Tenant elects to expand by leasing all but not less than all of lease the available Shared Services Identified Space. Such option Tenant’s right to receive the Pending Deal Notice and election to lease or not lease the Identified Space pursuant to this Section 39(a) is hereinafter referred to as the “Right of First Refusal.” If Tenant elects to lease the Identified Space by delivering the Space Acceptance Notice within the required 3 day period, Tenant shall be exercisable only by written notice within 30 days after Landlord’s notice. Upon such exercise, Landlord deemed to agree to lease the Identified Space on the same general terms and Tenant shall enter into an amendment conditions as this Lease except that the terms 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 modified to reflect the expansion terms of the PremisesPending Deal Notice for the rental of the Identified Space. If Notwithstanding anything to the Shared Facilities contrary contained herein, in no event shall the Work Letter or the Expansion Premises Work Letter apply to be leased includes the Generator, Identified Space. Tenant acknowledges that the term of the Lease amendment shall further provide that Tenant shall make with respect to the generator available to provide backIdentified Space may not be co-up power for the fire and life safety systems serving the Building (including elevator, elevator pressurization, emergency lighting). During terminous with the Term of the LeaseLease with respect to the then-existing Premises. If Tenant fails to deliver a Space Acceptance Notice to Landlord within the required 3 day period, 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.deemed
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Right to Expand. Landlord hereby grants Tenant a right shall have the right, but not the obligation, to expand into thethe Demised Premises (the "EXPANSION RIGHT") to include the as yet undeveloped additional space which may be constructed in the Project on land adjacent to the Building (the "EXPANSION SPACE"), “Shared Services Space”, which is shown on Exhibit L upon the following terms and conditions:
40.1. In the event that Landlord desires to this Lease. If the SBRI Lease lease all or SBRI’s or its successor’s occupancy under the SBRI Lease terminates as to any or all portion of the Shared Facilities Expansion Space, Landlord shall deliver to Tenant written notice (the "EXPANSION NOTICE") of the availability of such portion of the Expansion Space, together with the terms and conditions upon which Landlord is prepared to lease to Tenant such portion of the Expansion Space and reasonably detailed architectural and engineering reports with respect to the proposed Expansion Space. Tenant shall have [*] following delivery of the Expansion Notice to deliver to Landlord written notification ("Expansion Notice Response") of either (i) Tenant's exercise of the Expansion Right and agreement to lease such portion of the Expansion Space upon the terms and conditions of the Expansion Notice, (ii) Tenant's election to develop the Expansion Space itself as more fully described in Section 40.2 below ("Tenant's Development Election"), or (iii) Tenant's rejection of the Expansion Notice. In the event Tenant fails to timely deliver the Expansion Notice Response or pursuant thereto rejects the Expansion Notice, or if Landlord and Tenant are unable to agree upon any of the terms of the lease or sale agreement for such portion of the Expansion Space after negotiating in good faith, Landlord shall have the right, for a period of [*] thereafter, to lease the Expansion Space to a third ________________________ [*} Confidential information has been omitted and filed separately with the Commission. party upon any terms and conditions which Landlord desires, PROVIDED, HOWEVER, that, such terms and conditions are no more favorable to such third party than the terms and conditions offered to Tenant. If Landlord does not enter into a lease with respect to the Expansion Space within the [*] period referenced above, Tenant shall again have all rights to lease Expansion Space under this Section 40.1.
40.2.1 Landlord shall not cause the commencement of any development or construction activity with respect to the Expansion Space until the date (the "Option Date") that is the later of (i) the [*] of the Term Commencement Date or (ii) the date on which Tenant shall first offer such space have the right to exercise the purchase option pursuant to Section 39.
40.2.2 At any time after the Option Date, provided that Tenant is not then in Default under this Lease and Tenant is occupying the entire Demised Premises, Tenant may deliver to Landlord written notice ("TENANT'S EXPANSION NOTICE") of Tenant's desire to lease the Expansion Space, together with (i) the terms and conditions upon which Tenant is prepared to lease the Expansion Space and (ii) a reasonably detailed proposal setting forth the design of the Expansion Space. Landlord shall notify Tenant in writing within [*] of delivery of Tenant's Expansion Notice as to whether Landlord wishes to develop and lease the Expansion Space to Tenant on the terms set forth in this Paragraph 6Tenant's Expansion Notice or whether Landlord declines to develop and lease the Expansion Space to Tenant ("Development Notice"). 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 sets forth 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 its Development Notice 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 it does not exercise its right wish to expand into go forward with developing and leasing the Shared Services Expansion Space within 30 days after Landlord’s noticeto Tenant, or if Landlord does not timely deliver the Development Notice, then Tenant shall have no further the rights set forth in Section 40.2.3 below. If Landlord sets forth in its Development Notice that it wishes to develop and lease the Expansion Space to Tenant, then Landlord and Tenant shall negotiate in good faith the terms upon which Landlord shall develop and lease the Expansion Space to Tenant, including without limitation the specifications of the building constituting the Expansion Space (construction of which shall be of the same or better quality than the Building), the condition of the Expansion Space upon delivery to Tenant, the timing of delivery and the terms of the lease and work letter applicable to the Expansion Space. If Landlord and Tenant are unable to agree on the terms upon which Landlord will develop and lease the Expansion Space to Tenant within the [*] period immediately following delivery of the Development Notice, then Tenant shall have the rights set forth in Section 40.2.3 below.
40.2.3 In the event that (i) Tenant exercises Tenant's Development election under Section 40.1, (ii) Landlord does not timely deliver a Development Notice, (iii) Landlord indicates in the Development Notice that it does not wish to develop and lease the Expansion Space to Tenant or (iv) Landlord sets forth in the Development Notice that it wishes to develop and lease the Expansion Space to Tenant, and Landlord and Tenant are thereafter unable to agree on the terms upon which Landlord will develop and lease the Expansion Space to Tenant during the [*] period following delivery of the Development Notice, Tenant shall ________________________ [*} Confidential information has been omitted and filed separately with the Commission. have the right to expand into elect at any time thereafter during the Term to (a) purchase the entire Project in accordance with the terms of Section 39 or (b) develop the Expansion Space at Tenant's sole cost and expense.
40.2.4 If Tenant wishes to elect to develop the Expansion Space pursuant to Section 40.2.3, Tenant shall deliver to Landlord written notice indicating Tenant's desire to construct the Expansion Space, which notice shall include a reasonably detailed proposal setting forth the design of the Shared Services Expansion Space. The following shall apply to Tenant's development and construction of the Expansion Space.
(a) Tenant's plans for construction of the Expansion Space shall provide for construction of a minimum of [*] square feet of gross rentable area, and the Expansion Space shall be constructed with materials of equal or better quality than the existing Building.
(b) Landlord shall have the right to review Tenant's design and construction plans and to approve the same, which approval shall not be unreasonably withheld, conditioned or delayed. If in addition to the Expansion Space proposed to be constructed by Tenant, the then applicable zoning laws would permit further expansion, Landlord shall be deemed to have acted reasonably in not approving Tenant's design and construction plans if such plans would make it impractical to further expand the Building. The design of the Expansion Space must be architecturally compatible with the existing Building.
(c) Upon completion of construction of the Expansion Space by Tenant, this Lease shall be amended to include the Expansion Space, except that Tenant shall have no obligation to pay rent with respect to the Expansion Space other than Operating Expenses.
(d) Landlord must be reasonably assured that the construction of the Expansion Space will be completed in a timely fashion.
(e) Tenant shall indemnify and hold Landlord harmless from and against any and all liabilities, losses, costs, expenses, claims, demands, damages and judgments (including, without limitation, reasonable attorneys' fees, charges and disbursements) arising directly or indirectly out of the construction by Tenant of the Expansion Space, unless caused by the wilful act or negligence of Landlord.
40.3. In the event Tenant elects to exercise the Expansion Right pursuant to the Expansion Notice Response, within [*] Tenant and Landlord shall enter into a written amendment to the Lease (the "EXPANSION AMENDMENT") which shall provide, unless otherwise agreed in writing, (i) the commencement date of the Expansion Space; (ii) that the Demised Premises under this Lease shall be increased to include the rentable square feet of the Expansion Space; (iii) the new Basic Annual Rent; (iv) Tenant's new Pro Rata Share based upon the addition of the Expansion Space to the Demised Premises; (v) the proportionate increase to the Security Deposit (which shall be payable upon execution of the Expansion [*} Confidential information has been omitted and filed separately with the Commission. Amendment); and (vi) any other terms contained in the Expansion Notice. In all other respects, this Lease shall remain in full force and effect, and shall apply to the Expansion Space.
40.4. Notwithstanding the above, the Expansion Right shall not be in effect and may not be exercised by Tenant during any period of time that Tenant is in Default under any provision of the Lease.
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Right to Expand. Landlord hereby grants Provided this Lease is then in full force and effect and Tenant a right to expand into the, “Shared Services Space”, which is shown on Exhibit L to in compliance with the terms and conditions of this Lease. If , by delivering written notice to Landlord at any time during 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 eighteen (18) month period beginning on the terms in Commencement Date of this Paragraph 6. If Landlord offers any or all of the Shared Services SpaceLease, Tenant shall have the option right to expand by leasing all but (“Right to Expand”) into any space not less than all currently leased to other tenants, not subject to the rights of Synovus Financial Corp. (described in detail in D-12, below) and excluding the 1st (1st) floor of the available Shared Services Building (the “Expansion Space”) as shown on the attached Exhibit “F” and in accordance with the following term and conditions:
(a) Tenant will notify Landlord in writing if it wishes to exercise its Right to Expand and such notice will declare whether Tenant wishes to expand into all or only a portion of the Expansion Space. Such option shall be exercisable only by written notice within 30 days after Landlord’s notice. Upon such exerciseIf Tenant timely notifies Landlord of its desire to exercise its Right to Expand, Landlord and Tenant shall enter into an amendment will amend the Lease to add the selected portion of this Lease under which the Expansion Space to the Premises is expanded to include upon the Shared Services terms and conditions described herein as of the date Tenant occupies the Expansion Space. The Base Rent and other economic terms for the Expansion Space will be the same monthly rental (on a per square foot basis) then being paid by Tenant for the Premises, with Base Rent for the Shared Services term coterminous with the Lease Term and the Allowance per rentable square foot of the Expansion Space being will be equal to 57% the Allowance paid on a per rentable square foot basis 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 the Premises but prorated to reflect the expansion shorter term. Such amendment will adjust Tenant’s Share accordingly. Notwithstanding the above, the payment of Base Rent will not commence on the Expansion Space until the date one (1) year following the Commencement Date of this Lease. For example, if Tenant occupies the Expansion Space on April 1, 2005, and this Lease commenced on June 1, 2004, Tenant would not be required to pay Base Rent on the Expansion Space for two (2) months until June 1, 2005, however, if tenant occupies the Expansion Space on July 1, 2005, Tenant would be obligated to pay the Base Rent then being charged to Tenant for the original Premises for the Expansion Space. This rental concession applies only to the Expansion Space and to no other portion of the Premises. If No other rental concession shall apply to 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 Expansion Space.
(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. b) If Tenant does not exercise its Right to Expand in a timely manner, Tenant will have irretrievably lost its right to expand into the Shared Services Expansion Space. If Tenant does exercise its Right to Expand as to only a portion of the Expansion Space, its Right to Expand will continue as to the remaining portion of the Expansion Space within 30 days until the expiration of the eighteenth (18th) month period described above.
(c) Except as expressly set forth to the contrary herein, all other terms and conditions of this Lease shall apply to the Expansion Space, and from and after Landlord’s noticethe date Tenant elects to lease the Expansion Space, then the Expansion Space shall be and shall be deemed to be a part of the Premises.
(d) During the initial six (6) months of the Lease following the Commencement Date, Landlord will not market the Expansion Space located on the third (3rd) floor of the Building for lease to third parties. During such six (6) month period, Tenant shall have no further right may Lease all or any portion of such Expansion Space in accordance with this Special Stipulation D-5.
(e) Notwithstanding anything to the contrary in this Lease, the option to expand into herein provided is unique and personal to Tenant and shall not be transferable to any assignee, subtenant or other successor-in-interest to Tenant other than Affiliates to which the Lease has been assigned pursuant to Section 25 of the Shared Services SpaceLease.
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