Examples of Expansion Option Notice in a sentence
Tenant may exercise its right to expand by notifying Landlord, in writing, of its election to exercise the Expansion Option ("Notice of Exercise") at least nine (9) months prior to the desired occupancy date for the Premises, which Notice of Exercise shall specify the exact desired occupancy date ("Desired Occupancy Date"); provided that, subject to the provisions below, there will still be at least five (5) years remaining in the Initial Term after the Desired Occupancy Date.
If Tenant’s Expansion Option Notice covers an entire 80,000 rentable square foot Expansion Increment, the Expansion Option Notice shall specify whether Tenant will be initially conducting business in the entire Expansion Increment or only in the Initially Leased Increment and, if Tenant will initially conduct business in only the Initially Leased Increment, the size of the Initially Leased Increment (not to be less than 30,000 rentable square feet).
If Tenant desires to lease an Expansion Increment, Tenant shall notify Landlord thereof in writing (“Expansion Option Notice”), which Expansion Option Notice shall specify the particular Expansion Increment being leased by Tenant.
Any Member which desires to exercise its right to participate in such project must deliver a notice substantially similar to that delivered by the original Exercising Member in accordance with the terms of this subsection, within 30 days after it receives the Expansion Option Notice.
If Tenant delivers an Expansion Option Notice to Landlord for a particular Expansion Increment, Landlord shall deliver the subject Expansion Increment to Tenant in the condition required below not sooner than two (2) months (unless otherwise agreed by Tenant in writing), and not later than three (3) months, following Tenant’s delivery of the Expansion Option Notice (the “Expansion Increment Delivery Window”).
The Exercising Member shall exercise the Expansion Option by delivering, at any time after such Major Expansion Project has been rejected by each of the Company and Manta Ray or Nautilus, as applicable, but before the end of the Expansion Option Period, written notice of such exercise (the "Expansion Option Notice") to the Company and each Member.
Tenant may exercise its Expansion Option, if at all, by delivering to Landlord no later than ten (10) days after delivery of Landlord's ROFR Notice, written notice ("Expansion Option Notice") of Tenant's election to include the Expansion Option Space in the Premises.
If Tenant does not exercise the Expansion Option by giving written notice to Landlord of Tenant's exercise of the Expansion Option (the "Expansion Option Notice") on or before the third anniversary of the Commencement Date, then all rights of Tenant under this Section 26 shall automatically terminate.
Upon exercise of Option to Lease, the lease term for the Second Expansion Premises shall commence on the date specified in the Second Expansion Option Notice (being the date that is no later than ten (10) months and no earlier than six (6) months after the date of the Second Expansion Option Notice (the “Second Expansion Commencement Date”), and shall expire on the Lease Expiration Date.
The Expansion Option Notice shall be given as provided in Article 28 above.