Common use of Expansion Amendment Clause in Contracts

Expansion Amendment. Contemporaneously with the execution of the general contract, Tenant and Landlord must execute an amendment to the Lease (an "EXPANSION AMENDMENT") which will (a) extend the term of this Lease until ten years after substantial completion of the Expansion Space Work (the "EXPANSION AMENDMENT LEASE TERM") (the period beginning with the day after the expiration date of the initial ten-year Term (or, if the expansion option is exercised during a renewal Term, the expiration date of the renewal Term) and ending on the expiration date of the Expansion Amendment Lease Term is herein called the "EXPANSION EXTENSION"), (b) provide that the Base Rent (1) for the Expansion Space equals the Base Rent calculated as provided below in Paragraph 5, and (2) for the existing Premises, (A) during the original ten-year Term or (if the expansion option is exercised during a renewal Term) the renewal Term (i.e., before giving effect to the Expansion), the monthly Base Rent due for such space under the terms of this Lease, and (B) for the first five-year period of the Expansion Extension (or part thereof), the monthly Base Rent shall be 115% of the monthly Base Rent in effect for the initial Premises during the last month of the initial ten.year Term, and for the next five-year period of the Expansion Extension (or part thereof) the monthly Base Rent shall be 115% of the monthly Base Rent in effect for the initial Premises during the initial five years of the Expansion Extension, and (c) provide for a construction exhibit requiring Landlord to perform the Expansion Work in a good and workmanlike manner and in accordance with all Laws.

Expansion Amendment. Contemporaneously with the execution After receipt of the general contractExercise Notice, Landlord and Tenant and Landlord must execute shall enter into an amendment to the Lease (an "EXPANSION AMENDMENT"“Expansion Amendment”) which will (a) extend the term of this Lease until ten years setting forth the Expansion Space. Such Expansion Amendment shall provide that from and after substantial completion of the applicable date on which the Expansion Space Work is leased to Tenant (the "EXPANSION AMENDMENT LEASE TERM") (the period beginning with the day after the expiration date of the initial ten-year Term (or, if the expansion option is exercised during a renewal Term, the expiration date of the renewal Term) and ending on the expiration date of the “Expansion Amendment Lease Term is herein called the "EXPANSION EXTENSION"Commencement Date”), (b) provide that the Base Rent this Lease shall be deemed modified as follows: IF THE EXPANSION COMMENCEMENT DATE OCCURS ON OR BEFORE THE FIRST ANNIVERSARY OF THE COMMENCEMENT DATE, THEN: (1) the term “Premises” shall be deemed to include the Expansion Space; (2) the Monthly Base Rent payable for the Expansion Space equals shall be an amount determined by multiplying the number of rentable square feet in the Expansion Space times the applicable square foot rate for monthly Base Rent calculated contained in the Basic Lease Provisions in effect from time to time during the Term; (3) Tenant's Proportionate Share shall be increased (from and after the Expansion Commencement Date) by a percentage equal to the actual number of rentable square feet in the Expansion Space divided by the number of rentable square feet in the Building; (4) Tenant shall accept the Expansion Space “as provided below is” (subject to the same requirements with respect to the initial Premises set forth herein); and (5) Landlord shall contribute to the planning and construction of the initial alterations and improvements to such Expansion Space in Paragraph 5an amount equal to the lesser of (i) $28.00 multiplied by the number of rentable square feet in the Expansion Space, the product of which shall be multiplied by a fraction, the numerator of which shall be the number of months between the Expansion Commencement Date and the Expiration Date and the denominator of which shall be sixty-six (66) (which is the number of months in the Term), or (ii) the actual cost and expense of such initial alterations and improvements. IF THE EXPANSION COMMENCEMENT DATE OCCURS AFTER THE FIRST ANNIVERSARY OF THE COMMENCEMENT DATE, THEN: (1) the term “Premises” shall be deemed to include the Expansion Space; (2) the Monthly Base Rent payable for the existing PremisesExpansion Space shall be an amount agreed upon by Landlord and Tenant (which the parties shall negotiate in good faith for a period not to exceed ten (10) business days, (A) during the original ten-year Term or (and if the expansion option is exercised during a renewal Term) parties shall fail to agree on an amount, then the renewal Term (i.e., before giving effect to the Expansion), the monthly Base Rent due for such space under the terms of this Lease, and (B) for the first five-year period of the Expansion Extension (or part thereof), the monthly Monthly Base Rent shall be 115% the Market Rental Rate as determined in Rider Section 5 below); (3) Tenant's Proportionate Share shall be increased by a percentage equal to the actual number of rentable square feet in the monthly Base Rent Expansion Space divided by the number of rentable square feet in effect for the initial Premises Building; (4) Tenant shall accept the Expansion Space “as is”, unless otherwise agreed upon by the parties during the last month ten (10) business day period referenced in item (2) above. Except as set forth above, the terms and conditions of this Lease as they apply to the initial ten.year Term, and for the next five-year period Premises shall govern Tenant's lease of the Expansion Extension (or part thereof) the monthly Base Rent shall be 115% of the monthly Base Rent in effect for the initial Premises during the initial five years of the Expansion Extension, and (c) provide for a construction exhibit requiring Landlord to perform the Expansion Work in a good and workmanlike manner and in accordance with all LawsSpace.