Common use of Tenant’s Expansion Option Clause in Contracts

Tenant’s Expansion Option. Section 41.01. In the event that Tenant has notified Landlord in writing that it desires to lease additional space in the Building (any such space is hereinafter referred to as the "Expansion Space") and provided same becomes available for direct leasing (i.e., a lease of such space expires or is ---- terminated and such space is not leased again by the same tenant or occupant, or the successors or assigns or subtenants of such tenant or occupant, by renewal or a new lease or modification of a previous lease, and such space is not subject to any other lease or an option contained in another lease, or the space is not subject to a lease as of the date hereof, and the space is not one with respect to which Landlord has commenced negotiations with any other proposed tenant), then, Landlord shall send Tenant a notice setting forth the date on which Landlord has obtained, or anticipates obtaining, vacant possession of the Expansion Space. Upon Landlord giving such a notice, provided this Lease shall be in full force and effect and provided that Tenant shall not be in default hereunder beyond any applicable notice and grace period either as of the date of Tenant's exercise of the expansion option herein described or as of the day which would otherwise be the first day of Tenant's leasing of the Expansion Space (which conditions regarding default may be waived by Landlord in its sole discretion), and further provided that there shall be not less than five (5) years remaining in the Term as of the Expansion Space Commencement Date (as hereinafter defined) (unless Tenant shall simultaneously exercise its extension option contained in Article 42 hereof), then Tenant shall have the option, exercisable by notice to Landlord given within five (5) days after Landlord's notice to Tenant, time being of the essence with respect to Tenant's notice, to lease the Expansion Space from Landlord upon the terms and conditions hereinafter set forth. In the event Tenant fails to exercise its option to accept the Expansion Space within five (5) days from the date of the applicable notice from Landlord, Landlord shall have the right to lease the Expansion Space to any other proposed tenant for any term whatsoever and Tenant shall be deemed to have waived its rights to the Expansion Space.

Tenant’s Expansion Option. Section 41.0140.01. In the event that Tenant has notified Landlord in writing that it desires to lease additional space in on the 24th floor of the Building (any such space is hereinafter referred to as the "Expansion Space") and provided same becomes available for direct leasing on or before the date which is not later than the fifth (5th) anniversary of the Commencement Date (i.e., a lease of such space expires or is ---- terminated and such space is not leased again by the same tenant or occupant, or the successors or assigns or subtenants of such tenant or occupant, by renewal or a new lease or modification of a previous lease, lease and such space is not subject to any other lease or an option contained in another lease, lease or the space is not subject to a lease as of the date hereof, and hereof or the space is not one with respect to which Landlord has commenced negotiations with any other proposed tenant), then, Landlord shall send Tenant a notice setting forth the date on which Landlord has obtained, or anticipates obtaining, vacant possession of the Expansion Space. Upon Landlord giving such a notice, provided this Lease shall be in full force and effect and provided that Tenant shall not be in default hereunder beyond any applicable notice and grace period either as of the date of Tenant's exercise of the expansion option herein described or as of the day which would otherwise be the first day of Tenant's leasing of the Expansion Space (which conditions regarding default may be waived by Landlord in its sole discretion), and further provided that there shall be not less than five (5) years remaining in the Term as of the Expansion Space Commencement Date (as hereinafter defined) (unless Tenant shall simultaneously exercise its extension option contained in Article 42 hereof), then Tenant shall have the option, exercisable by notice to Landlord given within five (5) days after Landlord's notice to Tenant, time being of the essence with respect to Tenant's notice, to lease the Expansion Space from Landlord upon the terms and conditions hereinafter set forth. In the event Tenant fails to exercise its option to accept the Expansion Space within five (5) days from the date of the applicable notice from Landlord, Landlord shall have the right to lease the Expansion Space to any other proposed tenant for any term whatsoever and Tenant shall be deemed to have waived its rights to the Expansion Space.

Tenant’s Expansion Option. Section 41.01. In (a) Provided that (i) the event that Tenant has notified Landlord in writing that it desires to lease additional space in the Building (any such space Lease is hereinafter referred to as the "Expansion Space") and provided same becomes available for direct leasing (i.e., a lease of such space expires or is ---- terminated and such space is not leased again by the same tenant or occupant, or the successors or assigns or subtenants of such tenant or occupant, by renewal or a new lease or modification of a previous lease, and such space is not subject to any other lease or an option contained in another lease, or the space is not subject to a lease as of the date hereof, and the space is not one with respect to which Landlord has commenced negotiations with any other proposed tenant), then, Landlord shall send Tenant a notice setting forth the date on which Landlord has obtained, or anticipates obtaining, vacant possession of the Expansion Space. Upon Landlord giving such a notice, provided this Lease shall be in full force and effect and provided that effect, (ii) Tenant shall is not be then in default hereunder beyond any applicable notice and grace period either as under the monetary or material non-monetary terms of the date Lease, after receipt of Tenant's exercise notice of default from Landlord and expiration of applicable grace periods (if any); and (iii) Tenant is then in actual physical occupancy of at least one hundred percent (100%) of the expansion option herein described or as of the day which would otherwise be the first day of Tenant's leasing of the Expansion Space (which conditions regarding default may be waived by Landlord in its sole discretion)Premises, and further provided that there shall be not less than five (5) years remaining in the Term as of the Expansion Space Commencement Date (as hereinafter defined) (unless Tenant shall simultaneously exercise its extension option contained in Article 42 hereof), then Tenant shall have the option, (the “Expansion Option”) exercisable by sending written notice to Landlord given within five (5the “Expansion Option Notice”) days after Landlord's notice to Tenanton or before March 31, 2011, time being of the essence with respect as to Tenant's noticethe service of the Expansion Option Notice, to lease the ROFO Space on the Offer Terms set forth in Paragraph 34 above. If Tenant timely exercises the Expansion Option on the date upon which Landlord delivers vacant, broom-clean possession of the ROFO Space from Landlord to Tenant, the ROFO Space shall be added to and included within the Premises upon all of the Offer Terms and, to the extent not in conflict with the Offer Terms, on the terms and conditions hereinafter set forthforth in the Lease, as amended hereby (it being understood that if and to the extent of any inconsistency between the Offer Terms and the terms set forth in this Lease, the Offer Terms shall prevail as to the lease of the ROFO Space). In the event Tenant fails to exercise its option to accept deliver the Expansion Space within five (5) days from Option Notice on or before March 31, 2011, the date Expansion Option, and the provisions of this paragraph 35 shall be null and void, and of no further force and effect and Landlord shall thereafter be free for the remainder of the applicable notice from Landlord, Landlord shall have the right Term to lease the Expansion ROFO Space to any other proposed tenant for any term whatsoever third party at such rent and Tenant shall be deemed to have waived upon such conditions as Landlord may determine in its rights to the Expansion Spacesole and absolute discretion.

Tenant’s Expansion Option. Section 41.01. In the event that Tenant has notified Landlord in writing that it desires to lease additional space in the Building (any such space is hereinafter referred to as the "Expansion Space") and provided same becomes available for direct leasing (i.e., a lease of such space expires or is ---- terminated and such space is not leased again by the same tenant or occupant, or the successors or assigns or subtenants of such tenant or occupant, by renewal or a new lease or modification of a previous lease, and such space is not subject to any other lease or an option contained in another lease, or the space is not subject to a lease as of the date hereof, and the space is not one with respect to which Landlord has commenced negotiations with any other proposed tenant), then, Landlord shall send Tenant a notice setting forth the date on which Landlord has obtained, or anticipates obtaining, vacant possession of the Expansion Space. Upon Landlord giving such a notice, provided this Lease shall be in full force and effect and provided that Tenant shall not be in default hereunder beyond any applicable notice and grace period either as of the date of Tenant's exercise of the expansion option herein described or as of the day which would otherwise be the first day of Tenant's leasing of the Expansion Space (which conditions regarding default may be waived by Landlord in its sole discretion), and further provided that there shall be not less than five (5) years remaining in the Term as of the Expansion Space Commencement Date (as hereinafter defined) (unless Tenant shall simultaneously exercise its extension option contained in Article 42 hereof), then Tenant shall have the option, exercisable by notice Right of First Opportunity to Landlord given within five Lease on any available space in the Warehouse (5) days after Landlord's notice to Tenant, time being of "Additional Space"). When the essence with respect to Tenant's notice, to lease the Expansion Additional Space from Landlord upon the terms and conditions hereinafter set forth. In the event Tenant fails to exercise its option to accept the Expansion Space within five (5) days from the date of the applicable notice from Landlordbecomes available, Landlord shall have the right to lease the Expansion Space to any other proposed tenant for any term whatsoever notify Tenant in writing of such availability and Tenant shall be granted ten (10) business days in order to accept or reject the offer in writing. Failure to respond within ten (10) business days shall be deemed a rejection of such Additional Space. If Tenant rejects such Additional Space, Landlord shall then be free to lease such Additional Space to others on such terms and conditions as Landlord may chose, and Tenant shall have waived its no further rights with respect to such Additional Space. As to any Additional Space, if warehouse space ("Additional Warehouse Space"), during the Expansion first twelve (12) months for which any such Additional Warehouse Space is included within this Lease ("Initial Period For Additional Warehouse Space"), the rental rate to be paid for the Additional Warehouse Space ("Additional Warehouse Space Rental Rate") shall be the then current per square foot rate paid by Tenant for the warehouse portion of the Premises under this Lease,which rate shall then subsequently increase annually by one and one-half percent (1 1/2%) from and after the conclusion of the Initial Period For Additional Warehouse Space. As to any Additional Space, if office space ("Additional Office Space"), during the first twelve (12) months for which any such Additional Office Space is included within this Lease ("Initial Period For Additional Office Space"), the rental rate to be paid for the Additional Office Space ("Additional Office Space Rental Rate") shall be the then current market rate per square foot for comparable office space situated in St. Petersburg, Florida, which rate shall then subsequently increase annually by one and one-half percent (1 1/2%) from and after the conclusion of the Initial Period For Additional Office Space. The lease term of the Additional Space shall be co-terminous with the Term and Tenant shall lease the Additional Space in as-is condition.

Tenant’s Expansion Option. Section 41.01So long as Tenant is occupying any part of the Building, Tenant shall have, and is hereby granted by Xxxxxxxx, a continuing right of first refusal and option to lease any space on the 6th and 7th floors of the Building that becomes vacant (the “Vacant Space”) at the Basic Rent then being paid for the Demised Premises. In Promptly after Xxxxxxxx learns that the event that Vacant Space will become available for occupancy, Landlord shall give written notice to Tenant has notified Landlord which notice shall state the location of the Vacant Space, the Rentable Area of the Vacant Space and the date the Vacant Space will be available for occupancy. Such right and option shall be exercisable in writing that it desires by Tenant within ten (10) days after receipt of such written notice from Landlord. If such right and option is not exercised by Tenant within such ten (10)-day period, Landlord shall be entitled to lease additional space in the Building (any Vacant Space as it sees fit, provided however, that such space is hereinafter referred right and option shall continue to be effective as the "Expansion Space") and provided same becomes available for direct leasing (i.e., a lease of such space expires or is ---- terminated and such space is not leased again by the same tenant or occupant, or the successors or assigns or subtenants of such tenant or occupant, by renewal or a new lease or modification of a previous lease, and such space is not subject to any other lease or Vacant Space. If any Vacant Space is leased by Xxxxxx, the parties shall enter into an option contained appropriate amendment to this Lease which shall provide for (i) a term that is co-terminous with the term of this Lease for the Demised Premises and (ii) a tenant improvement allowance from Landlord in another lease, or the space is not subject to a lease as amount of $15.00 per rentable square foot of the date hereof, and Vacant Space to be leased by Tenant prorated for the space is not one with respect to which Landlord has commenced negotiations with any other proposed tenant), then, Landlord shall send Tenant a notice setting forth the date on which Landlord has obtained, or anticipates obtaining, vacant possession number of the Expansion Space. Upon Landlord giving such a notice, provided this Lease shall be in full force and effect and provided that Tenant shall not be in default hereunder beyond any applicable notice and grace period either as of the date of Tenant's exercise of the expansion option herein described or as of the day which would otherwise be the first day of Tenant's leasing of the Expansion Space (which conditions regarding default may be waived by Landlord in its sole discretion), and further provided that there shall be not less than five (5) years months remaining in the period for which Tenant has committed to lease such Vacant Space. By way of example only, if the Initial Term as of this Lease is 60 months, and Tenant exercises its right to add 10,000 rentable square feet of Vacant Space to the Demised Premises in the 24th month of the Expansion Initial Term, the tenant improvement allowance that would be owed to Tenant hereunder for the Vacant Space Commencement Date would be $90,000 (as hereinafter defined) (unless Tenant shall simultaneously exercise its extension option contained in Article 42 hereof36 months/60 months x $15.00 x 10,000), then Tenant shall have the option, exercisable by notice to Landlord given within five (5) days after Landlord's notice to Tenant, time being of the essence with respect to Tenant's notice, to lease the Expansion Space from Landlord upon the terms and conditions hereinafter set forth. In the event Tenant fails to exercise its option to accept the Expansion Space within five (5) days from the date of the applicable notice from Landlord, Landlord shall have the right to lease the Expansion Space to any other proposed tenant for any term whatsoever and Tenant shall be deemed to have waived its rights to the Expansion Space.