Common use of Expansion Space Term Clause in Contracts

Expansion Space Term. The Term for Tenant’s lease of the Expansion Space (“Expansion Space Term”) shall commence on the Expansion Commencement Date and shall expire co-terminous with Tenant’s lease of the Existing Premises on July 31, 2016 (the “Expiration Date”); provided, however, that Tenant shall have the right to terminate Tenant’s lease of either the Suite 300 Portion or the Suite 305 Portion, or both, upon one hundred twenty (120) days prior written notice to Landlord deliverable at any time in the sole discretion of Tenant. If Tenant elects to terminate the lease of all or any part of the Expansion Space pursuant to the foregoing termination right, Landlord and Tenant shall thereafter promptly execute a new amendment to the Lease, in a form acceptable to both Landlord and Tenant, modifying the Basic Rental, Tenant’s Proportionate Share. Tenant’s parking allocation, and any other provision of the Lease necessary to account for such termination. Landlord shall provide Tenant with access to the Expansion Space upon full execution and delivery of this Third Amendment by Landlord and Tenant for the purposes of installing Tenant’s furniture, fixtures, and equipment and Tenant’s telephone, network, and data cabling, and Tenant shall have no obligation to pay Basic Rental with respect to the Expansion Space during the period of such access; provided, however, that (i) Tenant’s access hall not interfere with Landlord’s completion of the Improvements, (ii) Tenant shall provide a certificate of insurance in accordance with Article 14 of the Original Lease for the Expansion Space prior to such entry, and (iii) the terms and conditions of Section 13(a) of the Lease shall apply to such access by Tenant.

Appears in 1 contract

Sources: Lease (loanDepot, Inc.)

Expansion Space Term. The Term for Tenant’s lease of the Expansion Space (“Expansion Space Term”) shall commence on the Expansion Commencement Date and shall expire co-terminous with Tenant’s lease of the Existing Premises on July 31, 2016 (the “Expiration Date”); provided, however, that Tenant shall have the right to terminate Tenant’s lease of either the Suite 300 Portion or the Suite 305 Portion, or both, upon one hundred twenty (120) days prior written notice to Landlord deliverable at any time in the sole discretion of Tenant. If Tenant elects to terminate the Tenant’s lease of all or any part of the Expansion Space pursuant to the foregoing termination right, Landlord and Tenant shall thereafter promptly execute a new amendment to the Lease, in a form reasonably acceptable to both Landlord and Tenant, modifying the Basic Rental, Tenant’s Proportionate Share. , Tenant’s parking allocation, and any other provision of the Lease necessary to account for such termination. Landlord shall provide Tenant with access to the Expansion Space upon full execution and delivery of this Third Amendment by Landlord and Tenant for the purposes of installing Tenant’s furniture, fixtures, and equipment and Tenant’s telephone, network, and data cabling, and Tenant shall have no obligation to pay Basic Rental with respect to the Expansion Space during the period of such access; provided, however, that (i) Tenant’s access hall shall not interfere with Landlord’s completion of the Improvements, (ii) Tenant shall provide a certificate of insurance in accordance with Article 14 of the Original Lease for the Expansion Space prior to such entry, and (iii) the terms and conditions of Section 13(a) of the Lease shall apply to such access by Tenant.

Appears in 1 contract

Sources: Lease (loanDepot, Inc.)

Expansion Space Term. The Term lease term for Tenant’s lease of the Expansion Space (the "Expansion Space Term") shall commence on the Expansion Space Commencement Date and shall expire co-terminous coterminously with Tenant’s lease of the Extended Term for the Existing Premises on July 31, 2016 (the Revised Expiration Date”); provided. For purposes of this Second Amendment, however, that the "Expansion Space Commencement Date" shall mean the earlier of: (i) the date Tenant shall have the right to terminate Tenant’s lease of either the Suite 300 Portion or the Suite 305 Portion, or both, upon one hundred twenty (120) days prior written notice to Landlord deliverable at any time conducts business operations in the sole discretion of Tenant. If Tenant elects to terminate the lease of all or any part portion of the Expansion Space; and (ii) the date Landlord delivers the Expansion Space to Tenant Ready for Occupancy, as defined in the Tenant Work Letter attached hereto as Exhibit B (the "Tenant Work Letter"), subject to acceleration as a result of any Tenant Delays (as defined and provided in the Tenant Work Letter). Landlord and Tenant presently anticipate that the Expansion Space will be delivered to Tenant Ready for Occupancy on or about February 1, 2013; however, if Landlord is unable to deliver to Tenant the Expansion Space Ready for Occupancy by such date (or any other date), then: (A) the validity of this Second Amendment or the Lease shall not be affected or impaired thereby; (B) Landlord shall not be in default hereunder or under the Lease (as amended hereby), or be liable for damages therefor; and (C) Tenant shall accept possession of the Expansion Space pursuant to the foregoing termination right, when Landlord and Tenant shall thereafter promptly execute a new amendment to the Lease, in a form acceptable to both Landlord and Tenant, modifying the Basic Rental, Tenant’s Proportionate Share. Tenant’s parking allocation, and any other provision of the Lease necessary to account for such termination. Landlord shall provide Tenant with access to delivers the Expansion Space upon full execution and delivery of this Third Amendment by Landlord and to Tenant Ready for the purposes of installing Tenant’s furniture, fixtures, and equipment and Tenant’s telephone, network, and data cabling, and Tenant shall have no obligation to pay Basic Rental with respect to the Expansion Space during the period of such access; provided, however, that (i) Tenant’s access hall not interfere with Landlord’s completion of the Improvements, (ii) Tenant shall provide a certificate of insurance in accordance with Article 14 of the Original Lease for the Expansion Space prior to such entry, and (iii) the terms and conditions of Section 13(a) of the Lease shall apply to such access by TenantOccupancy.

Appears in 1 contract

Sources: Lease Agreement (Alliance Data Systems Corp)

Expansion Space Term. The Term for Tenant’s lease In accordance with Article 1.3(2) of the Expansion Space (“Expansion Space Term”) shall commence on the Expansion Commencement Date and shall expire co-terminous with Tenant’s lease of the Existing Premises on July 31, 2016 (the “Expiration Date”); provided, however, that Tenant shall have the right to terminate Tenant’s lease of either the Suite 300 Portion or the Suite 305 Portion, or both, upon one hundred twenty (120) days prior written notice to Landlord deliverable at any time in the sole discretion of Tenant. If Tenant elects to terminate the lease of all or any part of the Expansion Space pursuant to the foregoing termination right, Landlord and Tenant shall thereafter promptly execute a new amendment to the Lease, the Commencement Date for Suite 300 shall be sixty (60) days following the date that Landlord delivers possession (as that term is defined in a form acceptable Paragraph A.5 hereof) of Suite 300 to the Tenant (the "300 Commencement Date") and the Commencement Date for Suite 204 shall be forty-five (45) days following the date Landlord delivers possession (as defined in Paragraph A.5 hereof) of Suite 204 to the Tenant (the "204 Commencement Date"). The term for both Landlord Suites 204 and Tenant, modifying 300 shall be coterminous with the Basic Rental, Tenant’s Proportionate Share. Tenant’s parking allocation, and any other provision term of the Lease necessary to account for such termination. Landlord and thus shall provide Tenant with access to the Expansion Space upon full execution and delivery of this Third Amendment by Landlord and Tenant for the purposes of installing Tenant’s furnitureexpire on December 22, fixtures2000, and equipment and Tenant’s telephone, network, and data cabling, and Tenant shall have no obligation to pay Basic Rental with respect to the Expansion Space during the period of such access; provided, however, that (i) Tenant’s access hall not interfere with Landlord’s completion of the Improvements, (ii) Tenant shall provide a certificate of insurance unless extended in accordance with Article 14 of the Original Lease for the Expansion Space prior to such entry, and (iii) the terms and conditions of Section 13(a) of the Lease (the "Expiration Date"). Subject to the abatement provisions in Paragraph A.5 below, Landlord shall apply not be liable to Tenant for any damages if Landlord is unable to deliver possession of the applicable Suite to Tenant on or before such access applicable Commencement Date for any reason whatsoever (including delays in vacation of Suite 204 by the existing tenant), and such failure shall not affect the validity of the Lease, as amended hereby, nor the obligations of Tenant under the Lease, as amended hereby. The Commencement Date for each such Suite shall be specified by Landlord in a notice ("Notice") to be delivered by Landlord to Tenant, which Notice shall be executed by Tenant and returned to Landlord within five (5) days after Tenant's receipt thereof. Possession by Tenant of any portion of a Suite prior to the applicable Commencement Date therefor shall be subject to all of the provisions of the Lease, as amended hereby, except that it shall not advance or extend such applicable Commencement Date or the Expiration Date.

Appears in 1 contract

Sources: Lease (Kabira Technologies Inc)

Expansion Space Term. The Term lease term for Tenant’s lease the Expansion Space (the "Expansion Space Term") shall be for a period commencing on the Expansion Space Commencement Date and expiring on the Revised Expiration Date. For purposes of this Second Amendment, the "Expansion Space Commencement Date" shall mean the date that is the earlier of (i) the date Tenant commences business operations in the Expansion Space, and (ii) the date that Landlord delivers possession of the Expansion Space to Tenant Ready For Occupancy (as defined in the Tenant Work Letter attached hereto as Exhibit B [the "Tenant Work Letter"]), which Expansion Space Term”) shall commence on the Expansion Commencement Date and shall expire co-terminous with Tenant’s lease of the Existing Premises on July 31is anticipated to be June 1, 2016 2019 (the “Expiration "Anticipated Expansion Space Commencement Date"); provided, however, that Tenant shall have the right to terminate Tenant’s lease of either the Suite 300 Portion or the Suite 305 Portion, or both, upon one hundred twenty (120) days prior written notice to if Landlord deliverable at any time in the sole discretion of Tenant. If Tenant elects to terminate the lease of all or any part does not deliver possession of the Expansion Space pursuant to Tenant Ready for Occupancy on or before the foregoing termination rightAnticipated Expansion Space Commencement Date or any other date (including, without limitation, as a result of the existing tenant of the Expansion Space failing to timely vacate the Expansion Space at the expiration of such tenant's existing lease), Landlord and Tenant shall thereafter promptly execute a new amendment not be subject to any liability nor shall the validity of the Lease, in a form acceptable to both Landlord and Tenantas amended hereby, modifying nor shall the Basic Rentalobligations of Tenant under the Lease, Tenant’s Proportionate Share. Tenant’s parking allocationas amended hereby, and any other provision of the Lease necessary to account for such termination. Landlord shall provide Tenant with access to the Expansion Space upon full execution and delivery of this Third Amendment by Landlord and Tenant for the purposes of installing Tenant’s furniture, fixtures, and equipment and Tenant’s telephone, network, and data cabling, and Tenant shall have no obligation to pay Basic Rental with respect to the Expansion Space during the period of such access; provided, however, that (i) Tenant’s access hall not interfere with Landlord’s completion of the Improvements, (ii) Tenant shall provide a certificate of insurance in accordance with Article 14 of the Original Lease for the Expansion Space prior to such entry, and (iii) the terms and conditions of Section 13(a) of the Lease shall apply to such access by Tenantbe affected.

Appears in 1 contract

Sources: Office Lease Agreement (Emmaus Life Sciences, Inc.)