Second Expansion Option. (a) Provided that on the date Tenant exercises the Second Expansion Option (i) this Lease has not been terminated, (ii) Landlord has not delivered to Tenant a notice electing to terminate this Lease in accordance with Section 6.05 which remains in effect and (iii) Tenant is a Coach Tenant or a successor of a Coach Tenant by assignment of this Lease in accordance with Article 5, Tenant shall have the option (the “Second Expansion Option”) to lease the entire 25th floor of the Building (the “Second Expansion Space”). The Second Expansion Option shall be exercisable by Tenant giving Landlord notice thereof (the “Second Expansion Notice”) on or prior to June 29, 2025 (time being of the essence). (b) If Tenant timely gives the Second Expansion Notice, then (i) on or before the later of (x) the date that is 90 days after the giving of the Second Expansion Notice and (y) the date that is 270 days before the first day of the Second ES Delivery Period, Landlord shall give to Tenant a notice designating (A) the date during the Second ES Delivery Period on which Landlord expects that the Second Expansion Space will become Available, subject to holdover by the existing occupant and Unavoidable Delay (such date, the “Anticipated Second ES Inclusion Date”) and (B) the rentable square footage of the Second Expansion Space and (ii) subject to Section 10.02(d) below, on the Second ES Inclusion Date, the Second Expansion Space shall become part of the Office Premises and the Premises, without any further act on the part of Landlord or Tenant and upon all of the terms and conditions of this Lease applicable to the Office Premises, except that, from and after the Second ES Inclusion Date: (i) Fixed Rent shall be increased by the Second ES Fair Market Rent for the Second Expansion Space and the rentable square footage of the Premises shall be adjusted by adding the rentable square footage of the Second Expansion Space (which shall be determined in accordance with the Measurement Standard); (ii) Each of Tenant’s Tax Share and Tenant’s Operating Share shall be appropriately increased (provided that the method of calculating the numerator shall be the same as the method of calculating the denominator at such time of calculation); (iii) Tenant shall be entitled to any rent abatement and/or work allowance determined in accordance with Section 10.02(f) below; and (iv) Other than as expressly set forth in Section 10.02(a) and this Section 10.02(b), Landlord shall not be required to perform any work, to pay any other work allowance or any other amount, or to render any services to make the Building or the Second Expansion Space ready for Tenant’s use or occupancy or to provide any abatement of Fixed Rent or Additional Charges, and Tenant shall accept the Second Expansion Space in its “as is” condition on the Second ES Inclusion Date; provided, that the Second Expansion Space shall be delivered in the condition to be negotiated in good faith by Landlord and Tenant, which shall include, at a minimum, the core bathroom finishes and all foundations, columns, girders, beams, supports, and all support and other features necessary for the installation of raised flooring, as constructed and existing therein on the date hereof.
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Sources: Lease (Tapestry, Inc.)
Second Expansion Option. (a) Provided that on Regardless of whether Tenant leases the date Tenant exercises the Second First Expansion Option (i) this Lease has not been terminatedSpace as set forth above, (ii) Landlord has not delivered to Tenant a notice electing to terminate this Lease in accordance with Section 6.05 which remains in effect and (iii) Tenant is a Coach Tenant or a successor of a Coach Tenant by assignment of this Lease in accordance with Article 5, then Tenant shall have the option (the “Second Expansion Option”) right to lease the entire 25th floor remainder of the of the Building (the “Second Expansion Space”). The ) by notice given on or before , subject to the following terms and conditions:
(a) Promptly after receipt of Tenant’s notice, Landlord shall notify Tenant of the date (which shall be between and ) on which it will deliver the Second Expansion Option shall be exercisable by Tenant giving Landlord notice thereof (the “Second Expansion Notice”) on or prior Space to June 29, 2025 (time being of the essence)Tenant.
(b) If Tenant timely gives the Second Expansion Notice, then (i) on or before the later of (x) the date that is 90 days after the giving of the Second Expansion Notice and (y) the date that is 270 days before the first day of the Second ES Delivery Period, Landlord shall give to Tenant a notice designating (A) the date during the Second ES Delivery Period on which Landlord expects that the Second Expansion Space will become Available, subject to holdover by the existing occupant and Unavoidable Delay (such date, the “Anticipated Second ES Inclusion Date”) and (B) the rentable square footage of the Second Expansion Space and (ii) subject to Section 10.02(d) below, on the Second ES Inclusion Date, the The Second Expansion Space shall become part of the Office Premises and Tenant agrees to commence paying Rent for the Premises, without any further act Second Expansion Space days after the date of delivery thereof to Tenant. The annual Rent for the Second Expansion Space shall be calculated by multiplying the Rent per square foot of Rentable Area in effect for the original Premises on the part delivery date by the Rentable Area of Landlord or Tenant and upon the Second Expansion Space.
(c) Except as otherwise specifically provided in this Article, all of the terms and conditions of this Lease applicable shall apply to the Office Premises, except that, Second Expansion Space from and after the Second ES Inclusion Date:aforesaid delivery date;
(id) Fixed Rent The Second Expansion Space shall be increased by the Second ES Fair Market Rent leased to Tenant in its then existing condition and state of improvement and Landlord shall have no obligation to make any improvements, repairs or alterations thereto. However, Landlord shall provide Tenant with a tenant improvement allowance for the Second Expansion Space and the rentable equal to $ per square footage foot of the Premises shall be adjusted by adding the rentable square footage of Rentable Area in the Second Expansion Space (which shall Space. Such tenant improvement allowance and the tenant improvements to be determined performed in accordance with the Measurement Standard);
(ii) Each of Tenant’s Tax Share and Tenant’s Operating Share shall be appropriately increased (provided that the method of calculating the numerator shall be the same as the method of calculating the denominator at such time of calculation);
(iii) Tenant shall be entitled to any rent abatement and/or work allowance determined in accordance with Section 10.02(f) below; and
(iv) Other than as expressly set forth in Section 10.02(a) and this Section 10.02(b), Landlord shall not be required to perform any work, to pay any other work allowance or any other amount, or to render any services to make the Building or the Second Expansion Space ready for Tenant’s use or occupancy or to provide any abatement of Fixed Rent or Additional Charges, and Tenant shall accept the Second Expansion Space in its “as is” condition on the Second ES Inclusion Date; provided, that the Second Expansion Space shall be delivered subject to all of the terms and conditions set forth in Exhibit D attached hereto regarding the condition Tenant Improvements and the Tenant Improvement Allowance.
(e) Notwithstanding anything to be negotiated in good faith by Landlord the contrary contained herein, Tenant shall have the right to lease the Second Expansion Space only if no Event of Default has occurred and Tenant, which shall include, at a minimum, the core bathroom finishes and all foundations, columns, girders, beams, supports, and all support and other features necessary for the installation of raised flooring, as constructed and existing therein is continuing on the date hereofof Tenant’s notice of its intention to lease the Second Expansion Space or on the date of delivery of the Second Expansion Space to Tenant.
(f) Within 10 days after Tenant exercises the Second Expansion Option, Landlord and Tenant shall execute an amendment to this Lease documenting the expansion of the Premises pursuant to this Section.
(g) Landlord shall have no liability to Tenant for any damages resulting from any delay in delivering possession of the Second Expansion Space to Tenant if said delay is caused by the holding over of a previous tenant of the Second Expansion Space; provided, that, Landlord shall take all action reasonably necessary, including required legal proceedings, to secure possession of the Second Expansion Space.
(h) Notwithstanding anything else herein contained, including Exhibit A, if, and only if, Tenant exercises its Second Expansion Option without having executed its First Expansion Option, then Landlord may deliver, as the Second Expansion Space, either the area designated on Exhibit A as the First Expansion Space (i.e., the southerly side of the floor) or the Second Expansion Space (i.e., the northerly side of the floor) and Tenant will accept whichever space Landlord elects to deliver as the Second Expansion Space.
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