First Expansion Space Clause Samples
The First Expansion Space clause grants a tenant the right to lease additional, specified space within a property if it becomes available. Typically, this clause outlines the location, size, and terms under which the tenant can exercise this right, such as notification procedures and timeframes for acceptance. Its core function is to provide the tenant with flexibility to grow their operations within the same building, while giving them priority over other potential tenants for the designated expansion area.
First Expansion Space. Tenant shall have the right to expand into additional space in the Building adjacent to the Leased Premises and consisting of not less than 90,000 square feet and not more than 120,000 square feet (the “First Expansion Space”) upon delivery of written notice to Landlord of such election (“Tenant’s Notice”). Tenant’s Notice to expand into the First Expansion Space shall be delivered to Landlord on or before July 1, 2010 and shall specify the effective date of Tenant’s intended occupancy of the First Expansion Space (the “First Expansion Occupancy Date”). The First Expansion Occupancy Date shall be no earlier than January 1, 2011 and no later than March 1, 2012. In the event Tenant timely notifies Landlord of its intent to expand into the First Expansion Space, Landlord shall, at its sole cost and expense, relocate any then existing tenant (or tenants) occupying the First Expansion Space to another space in the Building or in the Park such that Tenant shall have occupancy of the First Expansion Space by the First Expansion Occupancy Date. Prior to the First Expansion Occupancy Date, Landlord and Tenant shall amend the Lease to include the First Expansion Space on the same terms and conditions set forth in the Lease, and the First Expansion Space shall become part of the Leased Premises subject to the following changes:
(i) The term for the First Expansion Space shall be coterminous with the term for the Leased Premises; provided, however, that the term for the First Expansion Space shall be not less than ten (10) years. If the term of the First Expansion Space would then exceed the Lease Term for the Leased Premises, the Lease Term for the Leased Premises shall be extended automatically to the extent necessary, to be coterminous with the term for the First Expansion Space. The Minimum Annual Rent for the First Expansion Space shall be equal to the “Fair Market” Base Rent Rate, as determined in the manner set forth above, provided however, that in no event shall Tenant’s Minimum Annual Rent per square foot for the First Expansion Space be less than the highest Minimum Annual Rent per square foot payable during the Lease Term for the Leased Premises. If, as a result of Tenant’s exercise of its right to expand into the First Expansion Space, as set forth herein, the Lease Term for the Leased Premises is extended, then the Minimum Annual Rent for all of the Leased Premises during any such extended term shall be increased at a rate of two percent (2%) per annum t...
First Expansion Space. With respect to the First Expansion Space only, (a) Tenant’s Base Year shall be the calendar year 2004 and Tenant shall commence paying Tenant’s Proportionate Share of increases Operating Expenses effective January 1, 2005, and (b) Tenant’s Proportionate Share of the Total Rentable Area of the Office Tower shall be 1.1027% (based on 6,189 rentable square feet of Expansion Space and 561,235 rentable square feet in the Office Tower) and Tenant’s Proportionate Share of the Total Rentable Area of the Project is 1.0339% (based on 598,635 rentable square feet in the Project).
First Expansion Space. Subject to the occurrence of a Force Majeure Delay or a Tenant Delay (both hereinafter defined), Landlord agrees to substantially complete the construction of the First Expansion Space Finish Work by January 15, 1998 (the "First Expansion Space Estimated Commencement Date"). In the event of a Force Majeure Delay or a Tenant Delay, the First Expansion Space Estimated Commencement Date shall be extended one (1) day for every day of such delay. If Landlord is delayed in completing such construction by January 15, 1998, for any reason other than a Force Majeure Delay or a Tenant Delay, then (i) Tenant's obligation to pay rent under the Lease for that portion of the First Expansion Space which is untenable shall be abated until ten (10) days after substantial completion of the First Expansion Space Finish Work, and (ii) Tenant shall be entitled to an additional rental abatement, which shall be applied towards the rent payable for the Initial Space, in an amount equal to the difference between (a) the base rental (at the holdover rates) payable by Tenant for the portion of Tenant's existing premises which Tenant intends to vacate in order to occupy the First Expansion Space, and (b) the Basic Rental which would be payable by Tenant under this Lease for the First Expansion Space for each day of such delay prior to the date of substantial completion of the First Expansion Space Finish Work. The foregoing rental
First Expansion Space. The first paragraph of Section 3(A) of the Special Stipulations to the Lease is deleted in its entirety: “Tenant shall have the right to expand into additional space in the Building adjacent to the Leased Premises and consisting of not less than 90,000 square feet and not more than 120,000 square feet (the “First Expansion Space”) upon delivery of written notice to Landlord of such election (“Tenant’s Notice”). Tenant’s Notice to expand into the First Expansion Space shall be delivered to Landlord on or before July 1, 2010 and shall specify the effective date of Tenant’s intended occupancy of the First Expansion Space (the “First Expansion Occupancy Date”). The First Expansion Occupancy Date shall be no earlier than January 1, 2011 and no later than March 1, 2012.” and replaced with the following: “Tenant shall have the right to expand into additional space in the Building adjacent to the Leased Premises and consisting of not less than 90,000 square feet and not more than 152,035 square feet (the “First Expansion Space”) upon delivery of written notice to Landlord of such election (“Tenant’s Notice”). Tenant’s Notice to expand into the First Expansion Space shall be delivered to Landlord on or before November 1, 2010 and shall specify the effective date of Tenant’s intended occupancy of the First Expansion Space (the “First Expansion Occupancy Date”). The First Expansion Occupancy Date shall be no earlier than May 1, 2011 and no later than July 1, 2012.”
First Expansion Space. The Term with respect to the First Expansion Space shall commence on the First Expansion Space Commencement Date and shall expire (if not otherwise terminated sooner in accordance with the terms of the Lease or this Amendment) on June 30, 2028 (the “Revised Expiration Date”).
First Expansion Space. Not less than one hundred ten (110) days prior to the date Landlord reasonably estimates to be the date on which the entire Initial Premises will be Substantially Complete, Landlord shall advise Tenant, in writing, of the same together with Landlord's designation of the size, configuration and location of those portions of the Building (which shall be at least one (1) full floor of contiguous space) that is then currently available to be added to the Premises. Within fifteen (15) Business Days following Tenant's receipt of such Notice, Tenant, at its election, may notify Landlord, in writing ("FIRST EXPANSION NOTICE"), of those portions ("FIRST EXPANSION SPACE") of the Landlord designated vacant space Tenant elects to add to the Premises, provided such election is for not more than one (1) full floor of the Building and not for less than 10,000 RSF of the Building. The configuration and location of the First Expansion Space shall also be agreed to in good faith by Landlord and Tenant so as to create efficient, functional design for the First Expansion Space. In any event, the exact number of RSF by which the Premises will be increased will be that number of RSF as close to the RSF specified in Tenant's aforesaid election Notice which permits the balance of the applicable portion of the Building not affected by the First Expansion Space to be of such a size, location and configuration so as to not unreasonably interfere with leasing the balance of the applicable portion of the Building to other tenants. However, if Landlord does not receive within said fifteen (15) Business Days Tenant's First Expansion Notice, it shall act as notice to Landlord that Tenant has waived and released such right.
First Expansion Space. (a) Provided that (i) Tenant shall not have previously exercised the First ROFO Space Option (as defined in the ROFO Agreement)
First Expansion Space. Approximately 12,200 NRF of contiguous space on the 8th floor of the Building.
First Expansion Space. Landlord leases to Tenant and Tenant leases from Landlord approximately 2,276 square feet of additional Agreed Rentable Area (the “First Expansion Space”) known as Suite 1280 located on the twelfth (12th) floor of the Building as shown on the attached Exhibit A, which is incorporated into this Amendment for all purposes. The floor plan drawing attached to the Lease as Exhibit A is supplemented with Exhibit A attached to this Amendment, and the term “Premises” as used in the Lease means and includes approximately 6,849 square feet of Agreed Rentable Area, being the sum of the Rentable Area of the current Premises (▇,▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇) and the First Expansion Space. The lease of the First Expansion Space is subject to all of the terms and conditions of the Lease currently in effect, except as modified in this Amendment.
First Expansion Space. Landlord leases to Tenant and Tenant leases from Landlord approximately 13,772 square feet of additional Rentable Square Footage (the “First Expansion Space”) located on floor 17 of the Building as shown on the attached Exhibit “A”, which is incorporated into this Amendment for all purposes. The term “Premises” as used in the Lease means and includes approximately 38,909 square feet of Rentable Square Footage, being the sum of the Rentable Square Footage of the current Premises (25,137 square feet of Rentable Square Footage) and the First Expansion Space. The lease of the First Expansion Space is subject to all of the terms and conditions of the Lease currently in effect, except as modified in this Amendment.