Option Space means any of the First Option Space, the Second Option Space or the Third Option Space.
Option Space means a portion of the Facilities not to exceed twelve percent (12%) of the “Net Rentable Square Footage” (as determined under standards established by the Building Owner Managers Association) of the Facilities to be conveyed to the State upon exercise of an option under Article 11 hereof.
Option Space as used herein shall mean any of the following: (i) 16,397 rentable square feet on the fifth (5th) floor of the Building as shown to the left of the heading “Tenant ‘B’” on Exhibit A (the “Fifth Floor Option Space”); (ii) 13,028 rentable square feet on the seventh (7th) floor of the Building as shown to the left of the heading “Tenant ‘A’” on Exhibit B attached hereto and made a part hereof (the “Seventh Floor A Option Space”) and (iii) 6,623 rentable square feet on the seventh (7th) floor of the Building as shown to the left of the heading “Tenant ‘B’” on Exhibit B (the “Seventh Floor B Option Space) which Landlord intends to offer for leasing. Notwithstanding the foregoing, Option Space shall not include any space (i) which is subject to (a) a lease which grants the tenant thereunder any unexpired rights of renewal or extension as to such space or (b) the right, option or obligation of any other tenant or person to lease such space, (ii) which Landlord intends to offer to the existing tenant of such space notwithstanding the absence of any renewal or extension rights in such tenant’s existing lease, provided, however, that if such existing tenant rejects such offer by Landlord, such space shall become Option Space if such space would otherwise be Option Space pursuant to the provisions of this Section 40.01 or (iii) which Landlord intends to lease or otherwise make available to an affiliate of Landlord.
Examples of Option Space in a sentence
Similarly, the Option Space shall not be considered available if the then current tenant of that space wishes to remain there via exercise of a renewal right or by negotiation with Landlord.
The Rent payable under this Lease shall be increased by the amount of Rent attributable to the Option Space that is leased by Tenant.
Rent for the Option Space shall be the Rent per square meter of Rentable Area in effect under this Lease at the commencement of Tenant's occupancy of the Option Space.
The parties shall immediately execute an amendment to this Lease stating the addition of the Option Space to the Premises.
The final configuration of the Addendum No. 5 Option Space shall be designated by Lessor.
More Definitions of Option Space
Option Space means, collectively, the 9th Floor Option Space and the 8th Floor Option Space.
Option Space means the any vacant space within the existing building (being approximately 64,493 square feet), not including any new building construction (i.e.; expansion of the building), that has not yet been initially leased to another tenant.
Option Space. (as defined in Section 18.1(B) of the Lease) is modified and amended to include the 21st Floor Option Space and the terms of Article 18 shall be applicable with respect to the 21st Floor Option Space, except that (i) clause (y) of Section 18.4(B) of the Lease shall not be applicable with respect to the 21st Floor Option Space to the effect that the Option shall not be subject to the first transaction that Landlord consummates from and after the date hereof and (ii) the reference to the “date hereof” in Section 18.4(E) of the Lease shall mean the date of this Amendment.
Option Space and “Option Spaces” is defined in Section 35.01.
Option Space outlined on Exhibit "E"). Tenant acknowledges that the Option Space is available to the open market for lease as of the date of this lease commencement. Prior to entering into a lease with a third party for the Option Space, Landlord agrees to offer to lease the Option Space to Tenant upon the same terms and conditions and at the same rental rate as offered to the third party. If within five (5) business days after Landlord delivers Tenant such written offer. Landlord does not receive notice in writing that Tenant elects to lease all (and not part) of the Option Space and within ten (10) days thereafter Tenant does not execute a lease on the Option Space, the Tenant's right to lease the Option Space shall have no further rights pursuant to this paragraph. C.
Option Space means all or any portion of the Available Space (hereinafter defined), as specified by Tenant in its Option Notice; provided, however, that the balance of any Available Space not designated by Tenant as option Space must be in reasonably leasable configuration. The term "Available Space" shall mean that portion of the ground floor of the Building comprising approximately 13,585 RSF which is crosshatched on Exhibit H annexed hereto.
Option Space means that portion of the ground floor of the Building which is designated as "Option Space" on Exhibit "A" annexed hereto and made a part hereof. Landlord and Tenant hereby agree that the Option Space comprises 5,930 RSF and that the Leased Premises, inclusive of the Option Space, comprises 78,086 RSF.