Third Floor Expansion Space Sample Clauses

Third Floor Expansion Space. The entire 3rd floor of the building (the "Third Floor Expansion Space") is presently leased to the same tenant ("Dean Xxxxxx") xhich occupies the Dean Xxxxxx Xxxmises on the 4th floor pursuant to a lease (the "Dean Xxxxxx Xxxse") which expires January 31, 2002. Unlike the Dean Xxxxxx Xxxmises, the Third Floor Expansion Space is subject to a renewal option. If the Tenant wishes to lease the Third Floor Expansion Space (which right shall be subject, in all events, to the right of renewal contained in the Dean Xxxxxx xxxse), it shall give written notice (the "First Notice") to the Landlord no later than April 30, 2001. If Dean Xxxxxx xxxrcises its option to renew, Tenant shall have no further rights under this Article Forty-Five with respect to the Third Floor Expansion Space. Time shall be of the essence with respect to the delivery of the First Notice. If the Tenant timely delivers the First Notice, the parties shall endeavor to agree on a rental therefor. If the parties are unable to agree on a rental for such Third Floor Expansion Space by six months prior to the expiration date of the Dean Xxxxxx Xxxse for such space, or if the Tenant fails to timely deliver the First Notice for such space, the Landlord shall be free to lease such Third Floor Expansion Space to any unaffiliated third party free of the rights of the Tenant hereunder, and the Landlord shall have no further obligation under this Article Forty-Five with respect to the Third Floor Expansion Space, except as set forth in the balance of this paragraph (a). If the parties are unable to agree on a rental for such Third Floor Expansion Space and the Landlord thereafter offers to lease such space to a third party, the Landlord shall give the Tenant written notice of the financial terms upon which it is offering to lease the space to the third party (the "Third Party Offer"). If the present value of the net effective rent set out in the Third Party Offer (discounted at the rate of 2% over the prime rate then announced by Chase Manhattan Bank, N.A., or any successor thereto), is less than 90% of the present value of the net effective rent last offered by the Landlord to the Tenant for such space, the Tenant shall have a period of five (5) business days in which to notify the Landlord as to whether it wishes to lease the relevant Third Floor Expansion Space on the terms set forth in the Third Party Offer, (such notice from Tenant being referred to as the "Second Notice") time being of the essence wit...
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
Third Floor Expansion Space. Effective as of the Restructured Term Commencement Date. Tenant shall lease from Landlord and Landlord shall lease to Tenant approximately 27,120 rentable square feet of space, as outlined on Exhibit A attached hereto (“Third Floor Expansion Space”), consisting of the entire third (3rd) floor of the 1230 Building. Consequently, effective upon the Restructured Term Commencement Date, the “Premises” shall be increased to include the Third Floor Expansion Space. Landlord and Tenant hereby acknowledge that such addition of the Third Floor Expansion Space to the Premises shall, effective as of the Restructured Term Commencement Date, increase the size of the Premises to approximately 209,358 rentable square feet of space.
Sample 1
Third Floor Expansion Space. During the Restructured Term, with respect to the Third Floor Expansion Space, Tenant shall be obligated to pay for Operating Expenses and Impositions on the same terms and conditions applicable to the fifth (5th) floor of the 1230 Building, provided that Tenant’s Proportionate Share of Building shall be 17.54% (determined by dividing the rentable square footage of the Third Floor Expansion Space by the rentable square footage of the 1230 Building and multiplying the resulting quotient by one hundred and rounding to the second decimal place) and Tenant’s Proportionate Share of the Project shall be 8.76% (determined by dividing the rentable square footage of the Third Floor Expansion Space by the rentable square footage of the Project and multiplying the resulting quotient by one hundred and rounding to the second decimal place). As of the date hereof, with respect to the Third Floor Expansion Space, Tenant’s Proportionate Share of annual Operating Expenses is estimated to be Ten and 19/100 Dollars ($10.19) per rentable square foot of the Third Floor Expansion Space, and Tenant’s Proportionate Share of annual Impositions is estimated to be Two and 03/100 Dollars ($2.03) per rentable square foot of the Third Floor Expansion Space.
Sample 1
Third Floor Expansion Space. Commencing on the Effective Date, the schedule of Base Rent for the Third Floor Expansion Space shall be as follows, provided that Tenant shall not be obligated to pay Base Rent for any portion of the Third Floor Expansion Space until (i) the Suite 355 Expansion Commencement Date with respect to the Suite 355 Expansion Space, (ii) the Suite 345 Expansion Commencement Date with respect to the Suite 345 Expansion Space, and (iii) the date that is thirty (30) days after the Suite 365 Expansion Commencement Date, or the date Tenant commences operating for business within the Suite 365 Expansion Space, if sooner (the "Suite 365 Rent Commencement Date"), with respect to the Suite 365 Expansion Space: Period Annual Basic Rent Rate over Rentable Square Foot All such Base Rent shall be payable by Tenant in accordance with the terms of the Lease, as amended hereby.
Sample 1
Third Floor Expansion Space. Commencing on each of the Suite 355 Expansion Commencement Date, the Suite 345 Expansion Commencement Date and the Suite 365 Rent Commencement Date, Tenant shall pay Additional Rent with respect to the Suite 355 Expansion Space, the Suite 345 Expansion Space and the Suite 365 Expansion Space, as applicable, as set forth in the Lease; provided, however, that: (i) Commencing on each of the Suite 355 Expansion Commencement Date, the Suite 345 Expansion Commencement Date and the Suite 365 Rent Commencement Date, Tenant's Share shall be increased as a result of the expansion into the Suite 355 Expansion Space, the Suite 345 Expansion Space and the Suite 365 Expansion Space, as applicable; (ii) The Base Year with respect to the entire Third Floor Expansion Space {regardless of the applicable commencement date) shall be calendar year 2015; and (iii) Notwithstanding anything in Section 5.8 of the Lease to the contrary, Landlord agrees that in calculating Tenant's Share of Excess Operating Costs pursuant to Article 5 of the Lease, that portion of Operating Costs which are controllable by Landlord (specifically excluding, without limitation, insurance premiums, taxes [including Taxes] and costs of utilities) will not increase more than five percent (5%) per year, compounded annually, over the amount of such controllable Operating Costs for calendar year 2015 with respect to the Third Floor Expansion Space (and such cap shall not reset in calendar year 2016 with respect to the Third Floor Expansion Space as set forth in Section 5.8 of the Lease with respect to the Original Premises).
Sample 1
Third Floor Expansion Space. Commencing on each of the Suite 355 Expansion Commencement Date, the Suite 345 Expansion Commencement Date and the Suite 365 Expansion Commencement Date, Landlord shall license to Tenant an additional four (4) parking spaces per one thousand (1,000) rentable square feet of floor area contained within the Suite 355 Expansion Space (i.e., a total of thirty-nine (39) additional parking spaces), the Suite 345 Expansion Space (i.e., a total of forty-five (45) additional parking spaces) and the Suite 365 Expansion Space (i.e., a total of fifty-six (56) additional parking spaces), as applicable, all in accordance with the terms and conditions of the Lease. Such additional parking spaces shall be allocated by Landlord between reserved and unreserved parking spaces based on prevailing market allocations and subject to availability, and shall be licensed at a charge equal to prevailing market rates, all in accordance with the terms and conditions of the Lease.
Sample 1
Third Floor Expansion Space. The term as to the Third Floor Expansion Space (''Third Floor Expansion Space Term) shall commence on the date that certain Tenant Improvements (as defined below) for the Third Floor Expansion Space are completed by Tenant ("Third Floor Expansion Space Commencement Date" or "TFESCD''), but in no event later than January 1, 2020, and shall expire on the last day of the thirty-seventh (37 full calendar month following the Third Floor Expansion Space Commencement Date ("Third Floor Expansion Space Expiration Date" or "TFESED''). The parties estimate the TFESCD will be December 1, 2019.
Sample 1
AutoNDA by SimpleDocs

Related to Third Floor Expansion Space

  • Expansion Space As used in this paragraph, the term “Expansion Space” means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.

  • Expansion Premises In addition to the Original Premises, commencing on the Expansion Premises Commencement Date (as defined below), Landlord leases to Tenant, and Tenant leases from Landlord, the Expansion Premises.

  • Additional Premises Landlord shall use commercially reasonable efforts to expand the Premises to include an additional fifteen thousand four hundred ten (15,410) square feet of Rentable Area located on the first (1st) floor, as shown on Exhibit A attached hereto (the “Additional Premises”) on July 1, 2012 (the “Additional Premises Delivery Date”). In the event Landlord determines the Additional Premises will be ready for delivery to Tenant in the Required Condition on the Additional Premises Delivery Date, within ten (10) business days prior to the Additional Premises Delivery Date, Landlord and Tenant shall enter into a written amendment to the Lease, which amendment shall provide, unless otherwise agreed in writing, (a) that the commencement date of the Additional Premises shall be the Additional Premises Delivery Date (the “Additional Premises Commencement Date”), (b) that, as of the Additional Premises Commencement Date, the Premises under the Lease shall be increased to include the Additional Premises for a total of sixty-one thousand four hundred forty-four (61,444) square feet of Rentable Area (together, the Premises and the Additional Premises shall be referred to hereinafter as the “Total Premises”), (c) the new Basic Annual Rent applicable to the Total Premises, which shall commence on the Additional Premises Commencement Date and shall be as further described in Section 4.2 of this Amendment, (d) Tenant’s new Pro Rata Share of Operating Expenses as of the Additional Premises Commencement Date, which Pro Rata Share shall equal one hundred percent (100%) of the Building and thirty-three and 51/100 percent (33.51%) of the Project and (e) that, in addition to the parking which Tenant is entitled to under the terms of the Lease with respect to the original Premises, Tenant, for so long as Tenant leases the Additional Premises, shall have a non-exclusive license to use the parking facilities serving the Building in common on an unreserved basis with other tenants of the Building and the Project at a ratio of 3.3 parking spaces per 1,000 rentable square feet of Additional Premises, which amounts to fifty-one (51) additional parking spaces, which number shall include three (3) additional Reserved Spaces. In the event the Additional Premises is not ready for delivery to Tenant in the Required Condition on the Additional Premises Delivery Date, then (x) this Amendment and the Lease shall not be void or voidable, (y) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom and (z) the new Basic Annual Rent applicable to the Premises shall be as further described in Section 4.3 of this Amendment.

  • Vacating Premises (i) If the Assuming Bank elects not to purchase any owned Bank Premises, the notice of such election in accordance with Section 4.6(a) shall specify the date upon which the Assuming Bank's occupancy of such premises shall terminate, which date shall not be later than ninety (90) days after the date of the Assuming Bank's notice not to exercise such option. The Assuming Bank promptly shall relinquish and release to the Receiver such premises and the Furniture and Equipment and Fixtures located thereon in the same condition as at Bank Closing, normal wear and tear excepted. By occupying any such premises after the expiration of such ninety (90)-day period, the Assuming Bank shall, at the Receiver's option, (x) be deemed to have agreed to purchase such Bank Premises, and to assume all leases, obligations and liabilities with respect to leased Furniture and Equipment and leased Fixtures located thereon and any ground lease with respect to the land on which such premises are located, and (y) be required to purchase all Furniture and Equipment and Fixtures owned by the Failed Bank and located on such premises as of Bank Closing. (ii) If the Assuming Bank elects not to accept an assignment of the lease or sublease any leased Bank Premises, the notice of such election in accordance with Section 4.6(b) shall specify the date upon which the Assuming Bank's occupancy of such leased Bank Premises shall terminate, which date shall not be later than the date which is one hundred eighty (180) days after Bank Closing. Upon vacating such premises, the Assuming Bank shall relinquish and release to the Receiver such premises and the Fixtures and the Furniture and Equipment located thereon in the same condition as at Bank Closing, normal wear and tear excepted. By failing to provide notice of its intention to vacate such premises prior to the expiration of the option period specified in Section 4.6(b), or by occupying such premises after the one hundred eighty (180)- day period specified above in this paragraph (ii), the Assuming Bank shall, at the Receiver's option, (x) be deemed to have assumed all leases, obligations and liabilities with respect to such premises (including any ground lease with respect to the land on which premises are located), and leased Furniture and Equipment and leased Fixtures located thereon in accordance with this Section 4.6 (unless the Receiver previously repudiated any such lease), and (y) be required to purchase all Furniture and Equipment and Fixtures owned by the Failed Bank at Fair Market Value and located on such premises as of Bank Closing.

  • Existing Premises Notwithstanding anything to the contrary in the Lease as hereby amended, Tenant shall continue to pay Base Rent for the Existing Premises in accordance with the terms of the Lease.

  • Additional Space Commencing on May 1, 2001, Sublessor herein grants unto the Sublessee a Right of First Refusal on any space that shall be and/or becomes available in the building during the remaining Term of this Sublease. Prior to May 1, 2001 and thereafter prior to the first day of May of any calendar year during the remaining Term hereof, Sublessor shall notify Sublessee by written notice of the availability of any such space in the building. Should Sublessee desire to exercise its Right of First Refusal and sublease such available space, Sublessee must notify Sublessor in writing of its desire to sublease the available space within seven (7) calendar days of Sublessee's receipt of Landlord's notice of availability. Within thirty (30) days of the receipt of Sublessee's notice exercising the right to sublease such available space, Sublessee and Sublessor shall enter into an amendment of this agreement setting forth the terms under which the additional space is subleased to Sublessee. The Base Rental shall be at a rental mutually agreed between Sublessee and Sublessor. Failure by Sublessee to exercise its Right of First Refusal within said seven (7) calendar day period, or if exercised, failure to enter into an amendment of this agreement within thirty (30) days of Sublessor's receipt of Sublessee's notice, shall be deemed a waiver of such right and Sublessor shall thereafter be free of any obligation under this Article 2.04 for a period of 12 months. Any exercise by Sublessee of this Right of First Refusal shall be for a minimum of 5,000 rental square feet.

  • Storage Space Landlord shall reserve up to five thousand 5,000 square feet of storage space for lease by Tenant during the Lease Term (the “Storage Space”). The Storage Space shall be located in one or more private rooms selected by Landlord in the On-Site Parking Area designated on Exhibit P attached hereto. Tenant shall have the right to increase or decrease (but not in excess of the 5,000 square foot limit set forth above) the amount of Storage Space leased by Tenant on thirty (30) days written notice to Landlord. The Storage Space described above required to be provided by Landlord to Tenant shall be leased at a rental rate equal to ( ) per usable square foot per month during the Lease Tenn. Notwithstanding the foregoing, to the extent that any Storage Space in addition to the Storage Space required to be reserved by Landlord for Tenant’s use hereunder shall become available for use by tenants of the Building, Landlord agrees that Tenant shall have the right, upon written notice to Landlord, to lease such additional Storage Space on a month-to-month basis to the extent and for the duration that Landlord does not require the use of such additional Storage Space by other tenants in the Building or for another purpose. Any such additional Storage Space shall be leased at a rental rate equal to ( ) per usable square foot per month. The Storage Space rental amounts shall be due on a monthly basis concurrent with Tenant’s payment of the Base Rent due with respect to the Premises, and shall constitute Rent under the Lease. All Storage Space leased by Tenant shall be in a condition reasonably suitable for use as storage space. Tenant acknowledges that Landlord, by providing Tenant with the Storage Space is not assuming the responsibility to ensure the security of or provide security for the Storage Space, and Tenant hereby waives all claims against Landlord for damage to or theft of any property stored by Tenant in the Storage Space, except to the extent caused by the negligence or willful misconduct of Landlord or Landlord’s agents, contractors or representatives. Landlord shall deliver the Storage Space to Tenant in its “as-is” condition, without any obligation on the part of Landlord to remodel, refurbish or otherwise improve the Storage Space, provided that the Storage Space shall have a ceiling, walls, a door and lighting. Landlord shall have the right, not more than once per calendar year, upon thirty (30) days’ prior notice to Tenant, to relocate the Storage Space to another area of the Building of approximately the same aggregate square footage as the Storage Space; in the event of such relocation of the Storage Space, Landlord shall pay Tenant’s actual costs of moving materials stored in the Storage Space to the replacement Storage Space.

  • Parking Space The address required to find and physically park the Lessee’s vehicle is mandatory for this agreement to be valid. Section II. Term (7)

  • Adjacent Premises If the Premises are part of a larger building, or of a group of buildings owned by Lessor which are adjacent to the Premises, the Lessee shall pay for any increase in the premiums for the property insurance of such building or buildings if said increase is caused by Lessee's acts, omissions, use or occupancy of the Premises.

  • Open Space Acquisitions within the PPA. The County agrees that for the term of this IGA it will not purchase or otherwise acquire any land within the PPA for open space purposes, including conservation easements and transfer of development right sending sites without the approval of the Town.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!