Expansion Space B Clause Samples

The 'Expansion Space B' clause defines the terms under which a tenant may lease additional space, specifically labeled as 'Space B,' within a property. Typically, this clause outlines the conditions for exercising the expansion right, such as notification requirements, the timing for making the election, and the rent or lease terms that will apply to the additional space. By including this provision, the clause provides tenants with flexibility to grow their operations within the same building, while giving landlords a clear process for allocating and pricing future space, thus reducing uncertainty for both parties.
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Expansion Space B. Tenant shall, at Tenant’s cost purchase and install a stand-alone HVAC system for Tenant’s heating and cooling needs in Expansion Space B (the “Expansion Space B HVAC System”). After installation of the Expansion Space B HVAC System, Landlord shall enter into a maintenance contract, at Tenant’s sole cost and expense, for such Expansion Space B HVAC System Tenant shall pay all costs of maintenance, repair and replacement of the Expansion Space B HVAC System, including, but not limited to all costs of the maintenance contract.
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Expansion Space B. With respect to Expansion Space B during the Expansion B Term, Tenant’s Share shall be 9.9008%.
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Expansion Space B. (i) Landlord hereby leases to Tenant and Tenant hereby leases from Landlord an agreed thirty-five thousand three hundred four (35,304) rentable square feet in the aggregate, comprised of an agreed (A) eleven thousand eight hundred eleven (11,811) rentable square feet located on the third (3rd) floor (“Suite 300”), and (B) twenty-three thousand four hundred ninety-three (23,493) rentable square feet located on the fourth (4th) floor (“Suite 400”), all in the locations depicted on the diagram attached hereto as Attachment A hereto (each, also a “Suite” and all collectively, the “Expansion Space B”). (ii) Possession of each Suite of Expansion Space B will be delivered to Tenant in the Delivery Condition. The date on which each applicable Suite of Expansion Space B is delivered to Tenant in the Delivery Condition following the expiration or earlier termination of the occupancy agreement therefor (irrespective of any occupancy by Tenant of any such space prior thereto by sublease, license or other occupancy agreement between Tenant and the tenant of such space as of the Execution Date) shall be the “Delivery Date” therefor. It is hereby acknowledged that Suite 400 is occupied as of the Amendment Date pursuant to an occupancy agreement that is scheduled to expire on December 31, 2024, and Suite 300 is occupied as of the Amendment Date pursuant to an occupancy agreement that is scheduled to expire on January 31, 2026. Landlord may elect, in its sole and absolute discretion, to negotiate with the current tenant of Suite 300 an early termination agreement, which agreement (if any) shall be on terms satisfactory to Landlord and such current tenant of Suite 300 in each such party’s sole and absolute discretion. Accordingly, it is presently anticipated that possession of each of Suite 300 and Suite 400 of Expansion Space B will be delivered to Tenant in the Delivery Condition within two (2) business days after the later of (A) the date on which the occupancy agreement therefor expires (or is earlier terminated) and (B) the date on which such Suite is vacated by the current occupant thereof; however, possession of Suite 400 shall not be delivered before January 1, 2025, and possession of Suite 300 shall not be delivered before September 1, 2024, in both cases without Tenant’s prior written consent in its sole and absolute discretion. If Landlord does not deliver possession of either Suite of the Expansion Space B to Tenant by the anticipated delivery date therefor (whe...
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Expansion Space B 
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Related to Expansion Space B

  • Expansion Space As used in this paragraph, the term “Expansion Space” means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.

  • Expansion Premises In addition to the Original Premises, commencing on the Expansion Premises Commencement Date (as defined below), Landlord leases to Tenant, and Tenant leases from Landlord, the Expansion Premises.

  • Additional Premises Landlord shall use commercially reasonable efforts to expand the Premises to include an additional fifteen thousand four hundred ten (15,410) square feet of Rentable Area located on the first (1st) floor, as shown on Exhibit A attached hereto (the “Additional Premises”) on July 1, 2012 (the “Additional Premises Delivery Date”). In the event Landlord determines the Additional Premises will be ready for delivery to Tenant in the Required Condition on the Additional Premises Delivery Date, within ten (10) business days prior to the Additional Premises Delivery Date, Landlord and Tenant shall enter into a written amendment to the Lease, which amendment shall provide, unless otherwise agreed in writing, (a) that the commencement date of the Additional Premises shall be the Additional Premises Delivery Date (the “Additional Premises Commencement Date”), (b) that, as of the Additional Premises Commencement Date, the Premises under the Lease shall be increased to include the Additional Premises for a total of sixty-one thousand four hundred forty-four (61,444) square feet of Rentable Area (together, the Premises and the Additional Premises shall be referred to hereinafter as the “Total Premises”), (c) the new Basic Annual Rent applicable to the Total Premises, which shall commence on the Additional Premises Commencement Date and shall be as further described in Section 4.2 of this Amendment, (d) Tenant’s new Pro Rata Share of Operating Expenses as of the Additional Premises Commencement Date, which Pro Rata Share shall equal one hundred percent (100%) of the Building and thirty-three and 51/100 percent (33.51%) of the Project and (e) that, in addition to the parking which Tenant is entitled to under the terms of the Lease with respect to the original Premises, Tenant, for so long as Tenant leases the Additional Premises, shall have a non-exclusive license to use the parking facilities serving the Building in common on an unreserved basis with other tenants of the Building and the Project at a ratio of 3.3 parking spaces per 1,000 rentable square feet of Additional Premises, which amounts to fifty-one (51) additional parking spaces, which number shall include three (3) additional Reserved Spaces. In the event the Additional Premises is not ready for delivery to Tenant in the Required Condition on the Additional Premises Delivery Date, then (x) this Amendment and the Lease shall not be void or voidable, (y) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom and (z) the new Basic Annual Rent applicable to the Premises shall be as further described in Section 4.3 of this Amendment.

  • Existing Premises Notwithstanding anything to the contrary in the Lease as hereby amended, Tenant shall continue to pay Base Rent for the Existing Premises in accordance with the terms of the Lease.

  • Additional Space Commencing on May 1, 2001, Sublessor herein grants unto the Sublessee a Right of First Refusal on any space that shall be and/or becomes available in the building during the remaining Term of this Sublease. Prior to May 1, 2001 and thereafter prior to the first day of May of any calendar year during the remaining Term hereof, Sublessor shall notify Sublessee by written notice of the availability of any such space in the building. Should Sublessee desire to exercise its Right of First Refusal and sublease such available space, Sublessee must notify Sublessor in writing of its desire to sublease the available space within seven (7) calendar days of Sublessee's receipt of Landlord's notice of availability. Within thirty (30) days of the receipt of Sublessee's notice exercising the right to sublease such available space, Sublessee and Sublessor shall enter into an amendment of this agreement setting forth the terms under which the additional space is subleased to Sublessee. The Base Rental shall be at a rental mutually agreed between Sublessee and Sublessor. Failure by Sublessee to exercise its Right of First Refusal within said seven (7) calendar day period, or if exercised, failure to enter into an amendment of this agreement within thirty (30) days of Sublessor's receipt of Sublessee's notice, shall be deemed a waiver of such right and Sublessor shall thereafter be free of any obligation under this Article 2.04 for a period of 12 months. Any exercise by Sublessee of this Right of First Refusal shall be for a minimum of 5,000 rental square feet.