Examples of Extension Premises in a sentence
Tenant shall have three (3) options (each, an “Option”) to extend the Term of this Lease (and, in each case, the Expiration Premises Term Expiration Date and/or the Extension Premises Term Expiration Date, as applicable), with respect to the applicable portion of the Premises extended by an Option, by five (5) years, in each case on the same terms and conditions as this Lease, except as provided below.
Rent for the Extension Premises is at the same rate per rentable square foot as for the Existing Premises and includes certain additional tenancy improvement allowances reimbursable by the Landlord.
Under the terms of the Amendment, the Company can take occupancy of or sublease the Extension Premises immediately, but is not obligated to begin paying rent or related operating expenses for the Extension Premises until April 1, 2015, subject to certain adjustments if the Extension Premises are sublet prior to that date.
Rentable Area for 2017 Calendar Year with respect to the Extension Premises: $11.70 plus Electrical Expenses (defined in Section 2.2.1(a): $1.12; Estimated Monthly Additional Rent for 2017 Calendar Year: $36,353.85 plus Electrical Expenses: $3,480.03 (based on 37,286 square feet).
Notwithstanding the foregoing, payments of Additional Rent (other than Electrical Expenses) shall be abated as to the Expansion Premises and the Extension Premises, respectively, when the monthly Basic Rent payments are abated as set forth above in the Basic Lease Information.