Phase II Expansion definition
Examples of Phase II Expansion in a sentence
For the period commencing on the Commencement Date and continuing until the occurrence of the Phase II Expansion Date (defined below) (such period being referred to herein as “Phase I”), the Premises shall consist of approximately 1,800 square feet of area within the Datacenter (as depicted on Exhibit “A”, attached hereto, “Premises-A”).
The period commencing on the Phase II Expansion Date and continuing until the occurrence of the Phase III Expansion Date is referred to as the “Phase II Period”.
Tenant has inspected the Datacenter and the Tenant Space and, subject to Landlord’s completion of the Commencement Date Conditions, Tenant agrees to accept (a) Premises-A and the Pathway in their “AS IS, WHERE IS” condition on the Commencement Date, and (b) Premises-B in its “AS IS, WHERE IS” condition on the Phase II Expansion Date.
Grantor has, or on or before the Phase II Expansion Date, will, cause the installation of an electrical metering device (the “Electrical Metering Equipment-II”), compatible with Grantor’s energy management system for monitoring electricity serving, provided to and/or used in the Phase II Space.
The base monthly rent payable for the entire Premises (including the Phase II Expansion) shall be Fifty Thousand Nine Hundred Seventy Four and 00/100 Dollars ($50,974.00).
Ladies and Gentlemen: Please be advised that Grantor has delivered possession of the [Phase II Space / Phase III Space] to Grantee and has caused the [Phase II Expansion Date / Phase III Expansion Date] to occur.
The Gross Building Area of the Phase II Expansion Space shall be approximately the difference between 60,000 square feet and the Gross Building Area of the Phase I Expansion Space.
As of the Phase II Expansion Date, the Colocation Premises shall be deemed expanded to include the Phase I Space, together with (a) approximately 23,930 rentable square feet of conditioned space within the Datacenter (as depicted on Exhibit “A”, “Conditioned Space-B”, and (b) approximately 1,872 rentable square feet of unconditioned space within the Datacenter (as depicted on Exhibit “A”, “Unconditioned Space-B”; together with the Phase I Space, collectively, the “Phase II Space”).
For the avoidance of doubt, Tenant agrees that Tenant will only perform Tenant Work in the Premises during the Early Access Period, and that Tenant will not commence business operations in Premises-A prior to the Commencement Date, nor will Tenant commence business operations in Premises-B prior to the Phase II Expansion Date.
The ROFR Response shall set forth the terms and conditions (including, without limitation, the purchase price that PBF proposes to pay and the other material terms of the purchase including, if applicable, the terms of any services agreement relating to the PNG Pipeline and/or a Phase II Expansion, as applicable, that would be entered into upon closing of the Proposed Transaction) pursuant to which PBF would be willing to enter into a binding agreement for the Proposed Transaction.