Expansion Option definition

Expansion Option has the meaning given that term in Section 15.2.

Expansion Option. So long as P.F. Xxxxx'x Xxxna Bistro, Inc. (a) is not in breach of or in default under the Lease beyond any applicable cure period, (b) remains the Tenant under the Lease, and (c) has not sublet substantially all of the Premises, then Tenant shall have the following expansion option for the addition of up to 5,000 square feet of space on the second floor of the Building (the "Expansion Space") to the Premises. The exact location of the Expansion Space on the second floor shall be within Landlord's discretion. To exercise Tenant's expansion option, Tenant must give notice to Landlord no fewer than 180 days before the end of the third Lease Year of this Lease as to whether Tenant desires to lease the Expansion Space. If Tenant gives notice that Tenant is exercising this expansion option and will take the Expansion Space, within 30 days after the date Landlord receives the notice, Landlord and Tenant will enter into an Amendment of this Lease adding the Expansion Space to the Premises effective as of the fourth anniversary of the Commencement Date. The Expansion Space shall be added to the Premises under all the terms and conditions hereof except that the Base Rent rate for the Expansion Space will be at the greater of (i) fair market rental value of the Expansion Space or (ii) the then current Base Rent rate per square foot hereunder. If the parties cannot agree upon the fair market rental value of the Expansion Space, the procedure set forth in Article 2.2 above shall be used to determine it. The Amendment shall also adjust Tenant's Proportionate Share and any other items or figures calculated on the rentable square footage of the Premises (including, without limitation, the load factor applied to the Premises, and the number of parking spaces allocated to the Premises in the proportion of one additional parking space per 1,000 useable square feet of the Expansion Space) except the Tenant Improvement Allowance, which, if any, shall be at then-current market rates for the Expansion Space. If Landlord and Tenant do not, despite diligent good faith efforts, reach agreement with respect to the Expansion Space pursuant to this Article within 30 days after Tenant's notice, then Tenant shall be deemed not to have exercised Tenant's expansion option. If Tenant does not timely give notice to Landlord that Tenant is exercising the expansion option granted under this Article, Tenant shall be deemed to have waived its right to exercise the option and Landlord may lease...

Expansion Option has the meaning set forth in Section 3.3.

Examples of Expansion Option in a sentence

• Provide a brief description of how your hospital’s FAP has changed since the ACA’s Health Care Coverage Expansion Option became effective on January 1, 2014 (label appendix II).

• A Capacity Expansion Option gives a Prospective Shipper a right to a specified quantity of Capacity on the terms and conditions specified in the Capacity Expansion Option.

• Nothing in the Queuing Requirements prevents Operator offering a Capacity Expansion Option in accordance with the Extensions and Expansions Requirements of this Access Arrangement at any time or complying with its obligation to provide Capacity to a Prospective Shipper in accordance with a Capacity Expansion Option.

• Where a Prospective Shipper has lodged an Access Request and Operator has agreed to undertake an expansion to satisfy the Access Request (including by the creation of a Capacity Expansion Option in accordance with the Extension and Expansion Requirements of this Access Arrangement) the Prospective Shipper's Access Request will remain in the Queue until the expansion capacity has become available to satisfy it.

• A Capacity Expansion Option will have a purchase price to be determined by Operator and is able to be traded by the Prospective Shipper to another Prospective Shipper on the terms outlined in the Capacity Expansion Option.

More Definitions of Expansion Option

Expansion Option means the on-going option for Tenant to expand the Premises to include all or a portion of the Expansion Premises.

Expansion Option as defined in Section 36.1(a)(iii).

Expansion Option shall have the meaning set forth in Section 38(a).

Expansion Option has the meaning set forth in Section 5.2 of this Agreement.

Expansion Option shall have the meaning set forth in Section 4.24(a) hereof.

Expansion Option has the meaning set forth in Section 4.6 [Expansion Option]. “Facility” means the wind-powered electric generating facility, consisting of 67 Units each with a nameplate rating of 1.5 MW (or up to 93 Units upon exercise of the Expansion Option), the Electrical Interconnection Facilities and any other ancillary facilities and equipment, as more particularly described in Exhibit A.

Expansion Option means the Purchaser’s option, exercisable upon receipt of an Expansion Notice with respect to the first Expansion for which the Nominated Nameplate Production Capacity is greater than or equal to 50 Mlbspa, to increase the stream participation by making available to the Seller the Expansion Upfront Deposit or any portion thereof. 38821-2007 25879515.13