Second Added Premises Clause Samples
The "Second Added Premises" clause defines the process and conditions under which additional premises, beyond those initially specified in a lease or agreement, may be incorporated into the contractual arrangement. Typically, this clause outlines how new spaces can be added, the procedures for amending the lease to include these premises, and any adjustments to rent or other obligations that may result. For example, if a tenant wishes to expand their operations into an adjacent suite, this clause would govern how that expansion is formalized. Its core practical function is to provide a clear, agreed-upon mechanism for expanding the scope of the agreement, thereby reducing uncertainty and potential disputes when additional space is needed.
Second Added Premises. In addition to paying the Base Rent specified in Paragraph 2 hereof, Tenant shall pay as "additional rent" with respect to the Second Added Premises an amount determined in accordance with the provisions of Paragraph 4 of the Original Lease based upon: (i) the "Operating Expense Base Amount" meaning the amount (on a per rentable square foot basis), of Operating Expenses incurred by Landlord during Calendar Year 2005, as they may be adjusted pursuant to Subparagraph 4(a)(vii)(A) of the Original Lease, and (ii) the "Tax Base Amount" meaning the amount (on a per rentable square foot basis) of Taxes incurred by Landlord during Calendar Year 2005. Tenant's Proportionate Share with respect to the Second Added Premises shall mean 0.38% (l,928/514,000).
Second Added Premises. Effective as of the date (the "Second Added Premises Commencement Date"), the Second Added Premises are Ready for Occupancy (hereinafter defined) or would have been Ready for.Occupancy in the absence of any SAP Tenant Delay (hereinafter defined), the Second Added Premises shall be added to the Premises for the balance of the Term, upon and subject to all of the terms, covenants and conditions of the Lease, as amended herein. Landlord and Tenant acknowledge that the Premises will consist of approximately 95,117 square feet of rentable area after the addition of the Second Added Premises.