The Expansion Premises Sample Clauses
The Expansion Premises clause defines the terms under which a tenant may lease additional space within a property beyond the original premises. Typically, this clause outlines the process for offering, accepting, and leasing extra space, including timelines, rental rates, and conditions for expansion. For example, it may grant the tenant a right of first offer or refusal on adjacent suites as they become available. Its core practical function is to provide flexibility for tenants to grow their operations within the same building, while giving landlords a structured process for handling such requests.
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The Expansion Premises. The Leased Premises shall be expanded to include certain space on the Fourth (4th) Floor of the Building (the “Expansion Premises”) in accordance with the terms of this Paragraph 4.
The Expansion Premises. Subject to the terms and conditions of this Amendment, Landlord hereby lets and demises to Tenant, and Tenant rents from Landlord the Expansion Premises, subject to all easement, restrictions and other matters shown within the title policy and survey identified in Schedule 1 to Exhibit A, and all other easements, restrictions and other matters as would be revealed by a search of the public records, or which will be disclosed by an inspection of the Expansion Premises subsequent to the date of the policy and survey identified in Schedule 1, upon all of the terms set forth in the Lease, except those which by their terms are not applicable to the Expansion Premises and except as otherwise set forth in this Amendment. Tenant and Landlord shall therefore, have the same respective rights and obligations with respect to the Additional Building and other improvements constituting a part of the Expansion Premises as such parties have with respect to the Building and other improvements constituting part of the Initial Premises. The Additional Building shall be conclusively deemed to contain 65,000 rentable square feet for the purposes of calculating the Expansion Premises Rent. Except as otherwise set forth in this Amendment, the Tenant agrees to accept the Expansion Premises in its "as-is" condition. Accordingly, from and after the Expansion Premises Commencement Date (defined below) all references in the Lease to "demised premises" or the "Premises" shall be a reference to both the Initial Premises and the Expansion Premises.
The Expansion Premises