Common use of Tenant’s Expansion Notice Clause in Contracts

Tenant’s Expansion Notice. (a) If Tenant shall desire to lease available space at a Property or an Affiliate Owned Property, Tenant shall notify Landlord of such interest (any such notification, a “Tenant’s Expansion Notice”) and identify (a) the Property or the Affiliate Owned Property in which Tenant desires to lease additional space, (b) the approximate Net Rentable Area of the expansion space desired by Tenant, (c) the date by which Tenant desires to occupy the expansion space and (d) whether Tenant is committing, in advance of receiving the Landlord Expansion Response, to lease the space identified in the Tenant Expansion Notice if and when available (any such space, “Pre-Committed Space”) subject to Tenant’s acceptance of Landlord’s determination of the Fair Market Rental Value of such Pre-Committed Space. Tenant Expansion Notices may also include, or be combined with, Contraction Rights Exercise Notices, as provided in Article XI. (b) Tenant acknowledges that Landlord’s Quarterly Availability Reports shall not identify the Purchase Agreement Vacate Space as available for leasing until after Tenant vacates and surrenders possession of such space to Landlord as provided in the Purchase Agreement. Accordingly, if Tenant desires to lease Purchase Agreement Vacate Space as Leased Premises hereunder, Tenant shall notify Landlord in writing within the time period specified in the Purchase Agreement of the Purchase Agreement Vacate Space that Tenant desires to lease and whether Tenant desires to add such space to the Leased Premises as Short Term Expansion Space or Coterminous Expansion Space as herein provided. In the event Tenant elects to add all or any portion of the Purchase Agreement Vacate Space to the Leased Premises as Coterminous Expansion Space, Landlord and Tenant shall re-calculate and confirm the Termination Rights available to Tenant under Section 11.5.