Second Expansion Option. (A) On the conditions (which conditions Landlord may waive by written notice to Tenant) that, both at the time that Tenant gives Landlord the Second Expansion Exercise Notice, as hereinafter defined, and as of the Second Expansion Premises Commencement Date, as hereinafter defined: (i) there exists no Event of Default, (ii) this Lease is still in full force and effect, (iii) Tenant has not assigned this Lease nor sublet more than thirty percent (30%) of the Rentable Floor Area of the Premises (excluding any assignment or sublease permitted without Landlord’s consent under Section 12.2), (iv) Tenant shall not have previously elected to incorporate the Designated Second Expansion Space into the Premises, then, subject to Section 17.7(D), Tenant shall have the option to lease a Qualifying Expansion Space in the Building designated by Landlord, as hereinafter provided. Notwithstanding the foregoing, if Tenant shall have previously elected to incorporate less than the entirety of the Designated Second Expansion Space into the Premises, then the remainder thereof shall thereafter constitute the Designated Second Expansion Space, and shall constitute Qualifying Expansion Space whether or not such space is comprised of less than 16,000 square feet of Rentable Floor Area.
(B) If Tenant wishes to lease the Second Expansion Premises, Tenant shall exercise its option to lease the Second Expansion Premises by giving written notice (“Second Expansion Exercise Notice”) to Landlord on or before December 31, 2012, requesting Landlord’s quotation of the annual Fair Market Rental Value for the Second Expansion Premises as of the Second Expansion Premises Commencement Date. If Tenant fails timely to give such notice, Tenant shall have no further right to lease the Second Expansion Premises.
(C) Upon the timely giving of such Second Expansion Exercise Notice, Landlord shall within thirty (30) days give written notice to Tenant of Landlord’s quotation of the proposed annual rent for the Second Expansion Premises as of the Second Expansion Premises Commencement Date (“Landlord’s Second Expansion Premises Rent Quotation”) which will specify, if any, the leasehold improvement allowance that Landlord proposes to offer in connection therewith (“Second Expansion Improvement Allowance”). Landlord and Tenant shall negotiate in good faith to reach agreement on the rent for the Second Expansion Premises. If at the expiration of thirty (30) days after the date when Landlord provides Landl...
Second Expansion Option. The "Second Expansion Option" is an option to include within the Demised Premises that area (the "Second Expansion Space") shown on Exhibit "B -5". The "Second Expansion Option Exercise Deadline" is the last day of August, 1996. The "Second Expansion Rentable Floor Area" is hereby conclusively agreed by the parties to be 10,208 square feet. The "Second Expansion Option Rent
Second Expansion Option. The "Second Expansion Option" is an option to include within the Demised Premises that area (the "Second Expansion Space") shown on Exhibit "B-4". The "Second Expansion Option Exercise Deadline" is the last day of August, 1996. The "Second Expansion Rentable Floor Area" is hereby conclusively agreed by the parties to be 10,208 square feet. The "Second Expansion Option Rent Commencement Date" shall be the earlier of (i) the date of occupancy of any portion of the Second Expansion Space or (ii) December 15, 1996; provided, however, if occupancy is delayed solely due to Landlord Delay, the "120 days" immediately above shall be increased by the number of days of delay solely attributable to Landlord Delay. The "Construction Allowance" for the Second Expansion Space shall be equal to $4.50 (i) multiplied by the number of whole months remaining in the 120-month Lease Term after the Second Expansion Option Rent Commencement Date, (ii) divided by 120 and (iii) multiplied by the Second Expansion Rentable Floor Area. It is further agreed Exhibit "B-5" attached hereto outlines the space Tenant leased in its First Expansion Option."
Second Expansion Option. It is understood by execution of this Second Amendment to Lease, Tenant has hereby exercised its "Second Expansion Option".
Second Expansion Option. Premises: 2,211 sf on 14th floor, currently leased to Broker Investment Management (see attached). -Notice to LL: By 3/15/01. -Effective Date: Between 9/15/01 and 3/15/02 (Landlord shall notify Tenant of Effective Date within 30 days after exercise). -Base Rent: Rate per sf for remainder of Premises, including increases. -Tenant Improvements: None NOTE: Second expansion rights are subject to the rights of Broker Investment Management to exercise its option to renew. -LL may lease such space to other tenants prior to Effective Date; however, if LL does not deliver possession on or before 150th day following the Effective Date, Tenant may withdraw exercise of expansion option by delivering notice to LL by the 160th day following the scheduled Effective Date. Tetra Pak, Inc. (15th & 16th Floors) (9/l/91 - 8/31/01) -------------------------------------------------------
Second Expansion Option. So long as Tenant is not then in an Event of Default hereunder in excess of the Default Threshold, Tenant shall have the option (the “Second Expansion Option”) to lease Option Space 2 (as that term is hereinafter defined) at any time on or before the May 1, 2016 pursuant to and in accordance with the following terms and conditions:
Second Expansion Option. Landlord and Tenant acknowledge and agree that Tenant has exercised its Option to Lease the Second Expansion Premises in accordance with Section 5 of the Second Amendment, but as amended pursuant to the terms of this Third Amendment and subject to the contingencies described in Section 6 below, and that Landlord has agreed that the Tenant’s lease of the Second Expansion Premises shall commence earlier than December 1, 2010, subject to the fulfillment of the contingencies set forth herein. Accordingly, the Lease Term for the Second Expansion Premises shall commence on June 1, 2010 (the “Second Expansion Premises Commencement Date”), and shall expire on the Lease Expiration Date. The initial base rent for the Second Expansion Premises shall be an amount equal (on a per square foot basis) to the Building I Base Rent set forth in the Second Amendment applicable and in effect as of the Second Expansion Premises Commencement Date, and such Second Expansion Premises base rent shall be adjusted thereafter in amounts equal (on a per square foot basis) to the Building I Base Rent adjustments set forth in Section 7 of the Second Amendment for the remaining time period of the Lease Term.
Second Expansion Option. In connection with Landlord’s construction of the Fitness Facility on Floor 1 of the Building, Landlord has relocated its management office located on Floor 1 to Suite 230 on Floor 2 of the Building consisting of 2,124 square feet of Rentable Area at Landlord’s sole cost and expense. After the management office has been relocated and paid for by Landlord, at any time during the Term and provided Tenant is not in a monetary Event of Default hereunder in excess of the Default Threshold, Tenant may notify Landlord (“Second Option Notice”) that it would like to lease the management office space on Floor 2 (“Option Space 2”), which is shown on Schedule “G-8” attached hereto. If other space in the Building is available and is acceptable to Landlord in its sole but reasonable discretion for purposes of relocating the management office, Landlord will agree to move the management office at Tenant’s sole cost and expense and lease Option Space 2 to Tenant in accordance with the following terms.
Second Expansion Option. If (i) Tenant shall not have assigned this Lease (other than pursuant to Paragraph 21(C)), (ii) Tenant shall not have subleased more than 25% of the Premises for all or substantially all of the remaining Term (excluding subleases pursuant to Paragraph 21(C)), and (iii) this Lease shall then be in full force and effect, then Tenant shall have the one-time option (the “Second Expansion Option”) to expand the Premises to include the Second Expansion Premises upon the following terms and conditions:
Second Expansion Option. If (i) Tenant shall have not assigned this Lease (other than pursuant to Paragraph 21(C)), (ii) Tenant shall have not subleased more than 25% of the Premises for all or substantially all of the remaining Term (excluding subleases pursuant to Paragraph 21(C)), and (iii) this Lease shall then be in full force and effect, then Tenant shall have the one-time option (the “Second Expansion Option”) to expand the Premises to include the Second Expansion Premises upon the following terms and conditions:
(i) If Paragraph 35(A)(iv) and clause (d) thereof is applicable or if Paragraph 35(A)(vi) and clause (d) thereof is applicable, then, in either such case, the Second Expansion Option shall be void and of no force or effect.
