Additional Space. A. At all times prior to the Commencement Date (i) Landlord shall keep Tenant informed as to all space that is available for lease and (ii) Tenant may elect to amend this Lease so as to expand the Premises to include any or all of the available space in the Building upon the same terms and conditions as this Lease (the available space that Tenant so elects to include in the Premises being hereinafter referred to as the “Pre-Commencement Expansion Space”), except that the Allowance for any Pre-Commencement Expansion Space shall be reduced on a pro rata basis if the term for such space is less than ten (10) years and the rental rate for any Lower Level space shall be $20.00 per rentable square foot, full service. Landlord will use commercially reasonable efforts to notify Tenant in the event that it receives any active interest in the remaining wing on the second (2nd) floor; provided, however, that failure to provide such notice shall not constitute a default by Landlord under this Lease. B. Subject to any renewal rights and expansion rights granted to ▇▇▇▇▇ ▇▇▇▇ as of the date of execution of this Lease, and provided (i) Tenant is in possession of the Premises and is conducting its business therefrom, and (ii) the Lease is in full force and effect without Default by Tenant, Landlord agrees that at all times after the Commencement Date and during the Term of this Lease (and prior to seeking a third party tenant for any other space of the Building (the “Additional Space”)), except with regard to space that is unoccupied as of the date of this Lease, Landlord will provide written notice to Tenant of its intent to offer the Additional Space for lease to third parties and the terms and conditions on which Landlord would agree to lease the space to third parties (“Landlord’s Offer”). If Tenant desires to lease the Additional space from Landlord, Tenant shall provide written notice to Landlord of its election to lease the Additional Space within thirty (30) days of Landlord’s Offer (each a “Tenant Expansion Notice”). Any Additional Space that Tenant elects to lease is hereinafter referred to as “Post-Commencement Expansion Space”). (i) Landlord’s Offer shall include the business terms for the proposed expansion of the Premises, which will provide (a) that the Term for the Post-Commencement Expansion Space shall be coterminous with the Term of the Lease (provided, however, that if less than two (2) years remain on the original lease, the term for the Post-Commencement Expansion Space shall be two (2) years and Tenant, at Tenant’s option, may extend the term of the Lease to be coterminous with the Post-Commencement Expansion Space term); (b) a commercially reasonable period of time to plan, permit and construct improvements to the Expansion Space prior to rent commencement for such space; and (iii) rental rate, escalation, base year, allowance, concessions and other terms commensurate with the then-current market terms for new leases for similar buildings and similar leases in the Tyson’s Corner market (“Market Terms”). (ii) Following the due and timely delivery by Tenant to Landlord of a Tenant Expansion Notice, Landlord and Tenant will enter into an amendment to the Lease to include the Post-Commencement Expansion Space identified therein. If for any reason Tenant fails to duly and timely notify Landlord of its intent to lease the Additional Space, or if Tenant properly notifies Landlord of its intent to lease the Additional Space, but thereafter, for any reason (except Landlord’s willful misconduct) does not timely enter into a lease for the Additional Space, Landlord will be free to lease the Additional Space to another tenant on any terms and conditions acceptable to Landlord (without regard to the terms and conditions contained in Landlord’s Offer).
Appears in 1 contract
Sources: Deed of Lease (Ats Corp)
Additional Space. A. At all times prior There is hereby added to the Commencement Date (i) Landlord shall keep Tenant informed as Existing Demised Premises, and Lessor does hereby lease to all space that is available for Lessee, and Lessee does hereby lease from Lessor, the Additional Space, on a month-to-month basis and (ii) Tenant may elect otherwise subject to amend this Lease so as to expand the Premises to include any or and upon all of the available space in the Building upon the same terms and conditions as this Lease (the available space that Tenant so elects to include in the Premises being hereinafter referred to as the “Pre-Commencement Expansion Space”), except that the Allowance for any Pre-Commencement Expansion Space shall be reduced on a pro rata basis if the term for such space is less than ten (10) years and the rental rate for any Lower Level space shall be $20.00 per rentable square foot, full service. Landlord will use commercially reasonable efforts to notify Tenant in the event that it receives any active interest in the remaining wing on the second (2nd) floor; provided, however, that failure to provide such notice shall not constitute a default by Landlord under this Lease.
B. Subject to any renewal rights and expansion rights granted to ▇▇▇▇▇ ▇▇▇▇ as of the date of execution of this Lease, and provided (i) Tenant is in possession of the Premises and is conducting its business therefrom, and (ii) the Lease is in full force and effect without Default by Tenant, Landlord agrees that at all times after the Commencement Date and during the Term of this Lease (and prior to seeking a third party tenant for any other space of the Building (the “Additional Space”)), except with regard to space that is unoccupied as of the date of this Lease, Landlord will provide written notice to Tenant of its intent to offer the Additional Space for lease to third parties and the terms and conditions of the Lease, as amended hereby, to the end that the Demised Premises under the Lease shall be the said approximately 21,820 square feet of rentable area on which Landlord would agree to lease the fourth (4th) floor of the Building, as well as 2,201 square feet of rentable area on the eighth (8th) floor of the Building, as such eighth (8th) floor space to third parties (“Landlord’s Offer”). If Tenant desires to lease is outlined on the Additional space from Landlord, Tenant shall provide written notice to Landlord of its election to lease the Additional Space within thirty (30) days of Landlord’s Offer (each floor plan attached hereto and made a “Tenant Expansion Notice”). Any Additional Space that Tenant elects to lease is hereinafter referred to part hereof as “Post-Commencement Expansion Space”).Exhibit A.
(iA) Landlord’s Offer shall include the business terms for the proposed expansion of the Premises, which will provide (a) that the Term for the Post-Commencement Expansion The Additional Space shall be coterminous with added to the Term of the Lease (provided, however, that if less than two (2) years remain Existing Demised Premises on the original leaseAddition Date, the term for the Post-Commencement Expansion Space which shall be two the 24th day of July, 1998 (the "Anticipated Addition Date"), or such later date as may be established pursuant to the provisions below in this Section 2) years , and Tenant, at Tenant’s option, may extend the term of the Lease to be coterminous with the Post-Commencement Expansion Space term); (b) a commercially reasonable period of time to plan, permit and construct improvements as to the Expansion Additional Space prior to rent commencement for such space; only shall thereafter continue on a month-to-month basis. It is expressly understood and (iii) rental rate, escalation, base year, allowance, concessions and other terms commensurate with agreed that the then-current market terms for new leases for similar buildings and similar leases in term of the Tyson’s Corner market (“Market Terms”).
(ii) Following the due and timely delivery by Tenant to Landlord of a Tenant Expansion Notice, Landlord and Tenant will enter into an amendment Lease as to the Lease Existing Demised Premises shall remain unaffected. Lessee shall give to include the Post-Commencement Expansion Space identified therein. If for any reason Tenant fails to duly and timely notify Landlord Lessor at least thirty (30) days' written notice of its intent intention to lease quit the Additional Space, or if Tenant properly notifies Landlord of its intent and Lessee shall be entitled to lease at least thirty (30) days' written notice from Lessor to quit the Additional Space, but thereafterunless Lessee is in default under the Lease, as hereby amended, in which event Lessee shall not be entitled to any notice to quit, the usual thirty (30) days' notice to quit being hereby expressly waived, From and after the Addition Date and continuing for so long as the month-to-month tenancy on the Additional Space shall continue, the Additional Space shall be deemed to be part of the premises demised under the Lease for all purposes, and the term "Demised Premises" as used throughout the Lease shall be construed to include both the Existing Premises and the Additional Space.
(B) It is understood and agreed that the obligations of Lessor and Lessee under this Addendum are contingent upon the existing tenant of the Additional Space vacating and surrendering full possession of the same on or about July 15, 1998. In the event Lessor is unable to deliver possession of the Additional Space on the Anticipated Addition Date, because the existing tenant has failed to so vacate, Lessor shall not be liable or responsible for any claims, damages or liability arising in connection therewith or by reason thereof, nor shall Lessee be excused or released from the Lease, as amended hereby, because of Lessor's inability to deliver possession of the Additional Space on that date. The Addition Date, however, shall be extended to the earlier of (except Landlord’s willful misconducti) does not timely enter into a lease for the date the Additional Space is occupied by Lessee or (ii) the date which is ten (10) days after the date Lessor has notified Lessee in writing that the existing tenant has vacated the Additional Space and possession thereof is available to Lessee; provided. however, that if the existing tenant fails to vacate and surrender full possession of the Additional Space on or before August 31, 1998, then either Lessor or Lessee shall have the right to cancel and terminate this Addendum without further liability by giving written notice of such cancellation and termination to the other on or before September 15, 1998, and this Addendum shall be null and void and of no further force or effect upon the delivery of such notice. Lessor shall endeavor to keep Lessee informed as to the status of its efforts to recapture possession of the Additional Space from the existing tenant. When Lessee accepts possession of the Additional Space, Landlord will be free Lessor and Lessee shall execute the "Declaration as to lease Date of Delivery and Acceptance of Possession of Premises," attached hereto as Exhibit B, which shall specify the Additional Space to another tenant on any terms and conditions acceptable to Landlord (without regard to the terms and conditions contained in Landlord’s Offer)Addition Date.
Appears in 1 contract
Additional Space. A. At all times Landlord hereby leases to Tenant, and Tenant hereby agrees to lease from Landlord, the Additional Space for a term commencing on January 1, 2012 (the Additional Space Commencement Date), and continuing through the Expiration Date, unless sooner terminated pursuant to the terms of the Lease. Effective as of the Additional Space Commencement Date, the term Premises as used in the Lease, shall be amended to include the Additional Space, and Exhibit A to the Lease shall be deleted in its entirety, and Exhibit A attached hereto shall be substituted therefor. Tenant acknowledges that the Additional Space is currently occupied by an existing tenant whose lease terminates on September 30, 2011. If the existing tenant does not vacate the Additional Space prior to October 31, 2011, Tenant shall be entitled to two (2) days of rent abatement, on the Commencement Date Additional Space only, for each day after October 31, 2011 until such existing tenant vacates the Additional Space. Tenant shall take the Additional Space in its as-is condition except for certain leasehold improvements (ithe Initial Alterations) to the Additional Space which shall be completed in accordance with the terms of this Paragraph. Tenant agrees to submit plans and specifications for the Initial Alterations to Landlord for written approval. Landlord shall keep advise Tenant, no later than two (2) days after receipt of such plans and specifications, of its approval of such plans and specifications or, if applicable, of any matters which are unsatisfactory or require change. Landlord agrees that it shall not unreasonably withhold or delay its approval of such plans. The approved plans and specifications, including all approved changes, shall be referred to herein as the Initial Plans. Any changes or amendments to the Initial Plans must be approved by both Landlord and Tenant. Landlord shall complete the Initial Alterations by hiring a contractor selected by Tenant informed as and approved by Landlord to all space that is available for lease and (ii) Tenant may elect to amend this Lease so as to expand install or construct the Premises to include any Initial Alterations in accordance with the Initial Plans. Landlord shall not unreasonably withhold or all delay its hiring of the available space in contractor selected by Tenant and shall not unreasonably delay or hinder the Building upon completion of the same terms and conditions as this Lease (the available space that Tenant so elects to include in the Premises being hereinafter referred to as the “Pre-Commencement Expansion Space”), except that the Allowance for any Pre-Commencement Expansion Space shall be reduced on a pro rata basis if the term for Initial Alterations by such space is less than ten (10) years and the rental rate for any Lower Level space shall be $20.00 per rentable square foot, full servicecontractor. Landlord will use commercially reasonable efforts charge a construction management fee (the Construction Management Fee) equal to notify Tenant in three percent (3%) of the event that it receives aggregate amount of the Initial Improvement Allowance and any active interest in 2012 Allowance Portion of the remaining wing on the second Future Improvement Allowance (2ndas such terms are hereinafter defined) floor; provided, however, that failure to provide such notice shall not constitute a default which is funded by Landlord under this Lease.
B. Subject in connection with the Initial Alterations. Tenant intends to any renewal rights and expansion rights granted to hire ▇▇▇▇▇ ▇▇▇▇▇ (▇▇▇▇▇) as of the date of execution of this Leasean additional construction manager, and provided the fees and expenses of ▇▇▇▇▇ shall be paid by Tenant. So long as (i) Tenant is no Event of Default (as defined in possession of the Premises Lease) has occurred and is conducting its business therefromcontinuing, and (ii) no event for which Landlord has provided notice (to the extent notice is required under the Lease) and/or which following the expiration of the applicable cure period could become an Event of Default under the Lease has occurred and is in full force and effect without Default by Tenantcontinuing, Landlord agrees that at all times after to provide Tenant an allowance equal to Four Hundred Sixty-Four Thousand Seven Hundred Sixty and No/100 Dollars ($464,760.00) (the Commencement Date and during the Term of this Lease (and prior Initial Improvement Allowance), which allowance is to seeking a third party tenant be used solely for any other space completion of the Building (Initial Alterations and satisfaction of any architectural and design fees and the “Additional Space”)), except with regard to space that is unoccupied as Construction Management Fee. If the cost of the date Initial Alterations exceeds the amount of this Leasethe Initial Improvement Allowance, such additional amount shall reduce the amount of the 2012 Allowance Portion of the Future Improvement Allowance. Any work (labor or materials) outside the scope of the Initial Plans or the cost of which exceeds the aggregate of the Initial Improvement Allowance and the 2012 Allowance Portion of the Future Improvement Allowance shall be at Tenants sole cost and expense. Tenant acknowledges and agrees that Landlord has conditioned its agreement to fund the Initial Improvement Allowance on the payment thereof on or before June 30, 2012. Provided Landlord has acted timely and reasonably, if Landlord and Tenant have not agreed upon the Initial Plans on or before January 1, 2012, Landlord will provide written notice have no further obligation to Tenant of its intent to offer complete the Additional Space for lease to third parties Initial Alterations, and the terms and conditions on which Landlord would agree to lease the space to third parties (“Landlord’s Offer”)Initial Improvement Allowance shall be deemed forfeited by Tenant. If Tenant desires to lease the Additional space from LandlordFurther, Tenant shall provide written notice to Landlord of its election to lease the Additional Space within thirty (30) days of Landlord’s Offer (each a “Tenant Expansion Notice”). Any Additional Space that Tenant elects to lease is hereinafter referred to as “Post-Commencement Expansion Space”).
(i) Landlord’s Offer shall include the business terms for the proposed expansion any portion of the Premises, which will provide (a) that Initial Improvement Allowance remaining upon completion of the Term for the Post-Commencement Expansion Space Initial Alterations shall be coterminous with the Term of the Lease (provided, however, that if less than two (2) years remain on the original lease, the term for the Post-Commencement Expansion Space shall be two (2) years and deemed forfeited by Tenant, at Tenant’s option, may extend the term of the Lease to be coterminous with the Post-Commencement Expansion Space term); (b) a commercially reasonable period of time to plan, permit and construct improvements to the Expansion Space prior to rent commencement for such space; and (iii) rental rate, escalation, base year, allowance, concessions and other terms commensurate with the then-current market terms for new leases for similar buildings and similar leases in the Tyson’s Corner market (“Market Terms”).
(ii) Following the due and timely delivery by Tenant to Landlord of a Tenant Expansion Notice, Landlord and Tenant will enter into an amendment to the Lease to include the Post-Commencement Expansion Space identified therein. If for any reason Tenant fails to duly and timely notify Landlord of its intent to lease the Additional Space, or if Tenant properly notifies Landlord of its intent to lease the Additional Space, but thereafter, for any reason (except Landlord’s willful misconduct) does not timely enter into a lease for the Additional Space, Landlord will be free to lease the Additional Space to another tenant on any terms and conditions acceptable to Landlord (without regard to the terms and conditions contained in Landlord’s Offer).
Appears in 1 contract
Sources: Lease (Convio, Inc.)
Additional Space. A. At all times prior to the Commencement Date (ia) Landlord shall keep Tenant informed as to all space that is available for lease and (ii) Tenant may elect to amend this Lease so as to expand the Premises to include any or all of the available space in the Building upon the same terms and conditions as this Lease (the available space that Tenant so elects to include in the Premises being hereinafter referred to as the “Pre-Commencement Expansion Space”), except that the Allowance for any Pre-Commencement Expansion Space shall be reduced on a pro rata basis if the term for such space is less than ten (10) years and the rental rate for any Lower Level space shall be $20.00 per rentable square foot, full service. Landlord will use commercially reasonable efforts to notify Tenant in the event that it receives any active interest in the remaining wing on the second (2nd) floor; provided, however, that failure to provide such notice shall not constitute a default by Landlord under this Lease.
B. Subject to any renewal rights and expansion rights granted to ▇▇▇▇▇ ▇▇▇▇ Effective as of the date of execution of this LeaseAdditional Space Inclusion Date, and provided (i) Tenant is in possession of the Premises and is conducting its business therefrom, and (ii) remaining 9,926 RSF on the Lease is in full force and effect without Default by Tenant, Landlord agrees that at all times after the Commencement Date and during the Term of this Lease (and prior to seeking a third party tenant for any other space 21st floor of the Building (not already included in the 21st Floor Premises), which is shown as “Suite B” on the hatched floor plan attached hereto as Exhibit M (the “Additional Space”)), except with regard to space that is unoccupied as shall become part of the date Premises, without any further act on the part of Landlord or Tenant and upon all of the terms and conditions of this Lease, Landlord will provide written notice to Tenant of its intent to offer except that, from and after the Additional Space for lease to third parties and the terms and conditions on which Landlord would agree to lease the space to third parties (“Landlord’s Offer”). If Tenant desires to lease the Additional space from Landlord, Tenant shall provide written notice to Landlord of its election to lease the Additional Space within thirty (30) days of Landlord’s Offer (each a “Tenant Expansion Notice”). Any Additional Space that Tenant elects to lease is hereinafter referred to as “Post-Commencement Expansion Space”).Inclusion Date:
(i) Landlord’s Offer shall include the business terms for the proposed expansion of the Premises, which will provide (a) that the Term for the Post-Commencement Expansion Space Fixed Rent shall be coterminous with increased by the Term of then applicable Fixed Rent set forth in Section 2.02 above multiplied by the Lease (provided, however, that if less than two (2) years remain on the original lease, the term for the Post-Commencement Expansion Space shall be two (2) years and Tenant, at Tenant’s option, may extend the term of the Lease to be coterminous with the Post-Commencement Expansion Space term); (b) a commercially reasonable period of time to plan, permit and construct improvements to the Expansion Space prior to rent commencement for such space; and (iii) rental rate, escalation, base year, allowance, concessions and other terms commensurate with the then-current market terms for new leases for similar buildings and similar leases RSF contained in the Tyson’s Corner market (“Market Terms”).Additional Space;
(ii) Following Tenant’s Tax Share shall be increased by 1.34%;
(iii) Tenant’s Operating Share shall be increased by 1.38%;
(iv) Tenant shall be entitled to an abatement of the due Fixed Rent, Tax Payments and timely delivery by Tenant Operating Payments payable with respect to Landlord of a Tenant Expansion Notice, Landlord and Tenant will enter into an amendment to the Lease to include the Post-Commencement Expansion Space identified therein. If for any reason Tenant fails to duly and timely notify Landlord of its intent to lease the Additional Space, or if Tenant properly notifies Landlord of its intent to lease the Additional Space, but thereafter, for any reason (except Landlord’s willful misconduct) does not timely enter into a lease for the Additional Space, Landlord will be free to lease which abatement shall commence on the Additional Space to another tenant on any terms and conditions acceptable to Landlord (without regard Inclusion Date for a period of time equal to the terms product of (A) three hundred (300) days multiplied by (B) a fraction, the numerator of which is the number of full calendar months from the Additional Space Inclusion Date to the Expiration Date, and conditions contained in the denominator of which is the number of full calendar months from the Commencement Date to the Expiration Date (such fraction, the “Additional Space Factor”);
(v) Landlord’s Offer)Contribution for Tenant’s Initial Alterations to the Additional Space shall be in an amount equal to the product of (A) Fifty ($50.00) Dollars per RSF of the Additional Space multiplied by (B) the Additional Space Factor; it being agreed that such reimbursement of Landlord’s Contribution for Tenant’s Initial Alterations to the Additional Space will be made in accordance with the provisions of Article 12 below, applied mutatis mutandis; and
(vi) Landlord shall not be required to perform Landlord’s Work or any other work, or pay any amounts other than Landlord’s Contribution for Tenant’s Initial Alterations to the Additional Space as described in Section 11.02(a)(iv) above, or render any services to make the Building or the Additional Space ready for Tenant’s use or occupancy, and Tenant shall accept the Additional Space in its “as is” condition on the Additional Space Inclusion Date.
Appears in 1 contract
Additional Space. A. At all times prior Pursuant to the Commencement Date that certain Sublease dated as of December 22, 2004 between ConAgra Foods, Inc., a Delaware corporation (i) Landlord shall keep Tenant informed as to all space that is available for lease and (ii) Tenant may elect to amend this Lease so as to expand the Premises to include any or all of the available space in the Building upon the same terms and conditions as this Lease (the available space that Tenant so elects to include in the Premises being hereinafter referred to as the “Pre-Commencement Expansion SpaceConAgra”), except that as sublandlord, and Tenant, as subtenant (the Allowance for any Pre-Commencement Expansion Space shall be reduced on a pro rata basis if the term for such space is less than ten (10) years and the rental rate for any Lower Level space shall be $20.00 per rentable square foot“ConAgra Sublease”), full service. Landlord will use commercially reasonable efforts to notify Tenant subleases from ConAgra certain premises in the event that it receives any active interest 3337 Building known as Suites CN200, CN270 and CN300, and Suite 100 in the remaining wing on the second (2nd) floor; provided, however, that failure to provide such notice shall not constitute a default by Landlord under this Lease.
B. Subject to any renewal rights and expansion rights granted to office building located at ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ as ▇▇, containing a total of the date 77,895 square feet of execution of this Lease, and provided (i) Tenant is in possession of the Premises and is conducting its business therefrom, and (ii) the Lease is in full force and effect without Default by Tenant, Landlord agrees that at all times after the Commencement Date and during the Term of this Lease (and prior to seeking a third party tenant for any other space of the Building Rentable Area (the “Additional Space”)). The outside termination date for the ConAgra Sublease is August 31, except with regard to space that is unoccupied as of the date of this Lease, Landlord will provide written notice to Tenant of its intent to offer the Additional Space for lease to third parties and the terms and conditions on which Landlord would agree to lease the space to third parties (“Landlord’s Offer”)2010. If the ConAgra Sublease is still in effect at the time Tenant desires exercises its Renewal Option with respect to lease the Additional space from LandlordFirst Renewal Term, Tenant shall provide written notice to Landlord of its election have the option to lease the Additional Space within thirty from Landlord by giving Landlord written notice thereof concurrently with Tenant’s notice of exercise of the Renewal Option with respect to the First Renewal Term (30) days of Landlord’s Offer (each a the “Tenant Expansion NoticeAdditional Space Option”). Any Upon the proper exercise of the Additional Space that Tenant elects to lease is hereinafter referred to as “Post-Commencement Expansion Space”).
(i) Landlord’s Offer shall include the business terms for the proposed expansion of the Premises, which will provide (a) that the Term for the Post-Commencement Expansion Space shall be coterminous with the Term of the Lease (provided, however, that if less than two (2) years remain on the original lease, the term for the Post-Commencement Expansion Space shall be two (2) years and Tenant, at Tenant’s option, may extend the term of the Lease to be coterminous with the Post-Commencement Expansion Space term); (b) a commercially reasonable period of time to plan, permit and construct improvements to the Expansion Space prior to rent commencement for such space; and (iii) rental rate, escalation, base year, allowance, concessions and other terms commensurate with the then-current market terms for new leases for similar buildings and similar leases in the Tyson’s Corner market (“Market Terms”).
(ii) Following the due and timely delivery by Tenant to Landlord of a Tenant Expansion NoticeOption, Landlord and Tenant will enter into an amendment to the Lease to include the Post-Commencement Expansion Space identified therein. If for any reason Tenant fails to duly and timely notify Landlord of its intent to lease the Additional Space, or if Tenant properly notifies Landlord of its intent to lease the Additional Space, but thereafter, for any reason (except Landlord’s willful misconduct) does not timely enter into a lease for the Additional Space, Landlord will be free to shall lease the Additional Space to another tenant on any terms Tenant, and conditions acceptable Tenant shall lease the Additional Space from Landlord subject to Landlord (without regard every term and condition of this Lease, and every reference in this Lease to the terms “Premises” shall be deemed to include the Additional Space, except that (i) the Commencement Date of the Term of this Lease with respect to the Additional Space (“Additional Space Term”) shall be September 1, 2010, (ii) the expiration date of the Additional Space Term shall be the last day of the First Renewal Term, (iii) the base rent with respect to the Additional Space shall be the First Renewal Rent, and conditions contained (iv) Tenant shall pay Additional Rent with respect to the Additional Space in Landlord’s Offeraccordance with Section 3.4(d). If Tenant leases the Additional Space from Landlord pursuant to the Additional Space Option, the Renewal Option for the Second Renewal Term shall apply to all of the Premises, including the Additional Space.
Appears in 1 contract
Additional Space. A. At Section 21.1 Landlord agrees that all times prior office space on the eighth floor of the Building shall be subject to the Commencement Date (i) provisions on this Article 21.
1. Landlord shall keep agrees that without the written consent of Tenant informed as to all it will not initially lease any office space that is available less than 3,000 rentable square feet on the eighth floor of the Building for a term that terminates after August 1, 2001 (including all options to renew or extend the term of said lease) or in the alternative, allows Landlord to relocate said Premises. The term "initially lease" refers to the first lease and of said space to a tenant.
Section 21.2 Prior to the end of the twenty-sixth (ii26th) full month of the Term, Tenant may elect to amend this Lease so as shall notify Landlord in writing of its desire to expand the Premises to include any or all of the available space in the Building upon the same terms and conditions as this Lease (the available space that Tenant so elects to include in the Premises being hereinafter referred to as the “Pre-Commencement Expansion Space”)Premises. Landlord shall, except that the Allowance for any Pre-Commencement Expansion Space shall be reduced on a pro rata basis if the term for such space is less than within ten (10) years business days notify Tenant of the exact rentable area between 1050 and 1800 rentable square feet adjacent to the rental rate Premises into which Tenant shall have the right to expand. In the event Tenant accepts said designated expansion area for any Lower Level additional space in the Facility, Landlord shall provide such space no later than six (6) months after receipt of said notice of acceptance from Tenant. Tenant's acceptance notice shall be $20.00 per rentable square footdelivered within ten (10) days of receipt of Landlord's designation of the expansion space. In the event Tenant so notifies Landlord, full serviceLandlord shall deliver to Tenant an amendment of this Lease adding such additional space to the Premises demised hereunder, on said effective date. Landlord will use commercially reasonable efforts to notify Tenant Additional initial annual Base Rent shall be payable for the additional area in the event that it receives any active interest in the remaining wing on the second (2nd) floor; provided, however, that failure to provide such notice shall not constitute a default amount determined by Landlord under this Lease.
B. Subject to any renewal rights and expansion rights granted to ▇▇▇▇▇ ▇▇▇▇ as of the date of execution of this Lease, and provided multiplying (i) Tenant is in possession the rentable area of the Premises and is conducting its business therefrom, and expansion area by (ii) the Lease is in full force amount determined by subtracting from Tenant's Base Rent payable for the initially demised Premises the unamortized difference between (y) $30.00 per rentable square foot and effect without Default by Tenant, Landlord agrees that at all times after (z) the Commencement Date and during the Term of this Lease (and prior to seeking a third party tenant for any other space cost per rentable square foot of the Building tenant improvements (below the “Additional Space”)), except with regard to space that is unoccupied as finished ceiling) installed by or for the previous tenant or occupant of the expansion area. Tenant's Rent on the expansion area shall commence the earlier of (i) the date of this Leaseoccupancy, or (ii) sixty (60) days after the Premises are delivered to Tenant for commencement of its work. Landlord will provide written notice Tenant with the "open book" cost figures for said prior tenant improvements. The initial improvements for said Expansion Area shall be submitted to Tenant of for its intent to offer the Additional Space for lease to third parties review and the terms comment and conditions on which Landlord would and Tenant agree to lease the space work together in good faith to third parties (“Landlord’s Offer”). If Tenant desires to lease the Additional space from Landlord, Tenant shall provide written notice to Landlord of its election to lease the Additional Space within thirty (30) days of Landlord’s Offer (each construct a “Tenant Expansion Notice”). Any Additional Space that Tenant elects to lease is hereinafter referred to as “Postlay-Commencement Expansion Space”).
(i) Landlord’s Offer shall include the business terms for the proposed expansion of out and select finishes which will be compatible with the Premises, which will provide (a) that the Term provided, said space must be useable for the Post-Commencement Expansion Space purposes intended by Landlord for a marketing office. Said amortization shall be coterminous with the Term of the Lease (provided, however, that if less than two (2) years remain determined on the original lease, the term for the Post-Commencement Expansion Space shall be two (2) years and Tenant, at Tenant’s option, may extend the term of the Lease to be coterminous with the Post-Commencement Expansion Space term); (b) a commercially reasonable period of time to plan, permit and construct improvements to the Expansion Space prior to rent commencement for such space; and (iii) rental rate, escalation, base year, allowance, concessions and other terms commensurate with the then-current market terms for new leases for similar buildings and similar leases in the Tyson’s Corner market (“Market Terms”).
(ii) Following the due and timely delivery by Tenant to Landlord basis of a Tenant Expansion Notice, Landlord and Tenant will enter into an amendment to the Lease to include the Post-Commencement Expansion Space identified therein. If for any reason Tenant fails to duly and timely notify Landlord of its intent to five (5) year lease the Additional Space, or if Tenant properly notifies Landlord of its intent to lease the Additional Space, but thereafter, for any reason (except Landlord’s willful misconduct) does not timely enter into a lease for the Additional Space, Landlord will be free to lease the Additional Space to another tenant on any terms and conditions acceptable to Landlord (without regard to the terms and conditions contained in Landlord’s Offer)term.
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