Examples of Phase II Expansion in a sentence
Whether or not the initial twenty (20) year term is reinitiated, as allowed hereunder, the Annual Base Rent payable for each Lease Year from and after the Phase II Commencement Date (defined below) shall be equal to the Annual Base Rent attributable to Phase II, as calculated in the manner above set forth, plus that amount which would have been payable under this Lease had the Phase II Expansion not been exercised.
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 Parties shall enter into (and/or have one or more of their respective Affiliates enter into) a definitive agreement providing for the consummation of the PBF Phase II Expansion Transaction including, if applicable, a service agreement relating to the PNG Pipeline and/or the Phase II Expansion.
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”).
In addition, Manufacturer shall secure and maintain adequate worker’s compensation insurance in accordance with the laws of the state or states from which Manufacturer shall perform manufacturing services for NetScreen.
Guest shall have the right to extend the Phase II Option Termination Date by a period of one year by giving Host notice thirty (30) days prior to the then current Termination Date and paying all carrying costs (as described above) for the land required for the Phase II Expansion Space for said one year period, which land is deemed to be 25% of the Site.
Conventional Pipelines' capital expenditures were primarily incurred to complete the Phase II Expansion, as well as progress the Phase III Expansion.
The Partnership also agrees that PBF shall have the right at any time to cause the Partnership and PNGPC to construct a Phase II Expansion, at PBF’s sole cost, in exchange for which PBF will acquire an interest in PNGPC reflecting its contribution and entitling it to a priority return thereon (the “PBF Phase II Expansion Transaction”).
At the time of giving the Expansion Notice, Tenant will provide Landlord with outline specifications for the Phase II Expansion.
For the period commencing on the Phase II Expansion Date and continuing through the balance of the Term (such period being referred to herein as “Phase II”), the Premises shall be deemed to include Premises-A and Premises-B.