Second Expansion Space Clause Samples
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Second Expansion Space. Tenant shall have the right to expand into additional space in the Building adjacent to the then existing Leased Premises and consisting of not less than 90,000 square feet and not more than 120,000 square feet (the “Second Expansion Space”) upon delivery of Tenant’s Notice to Landlord. Tenant’s Notice to expand into the Second Expansion Space shall be delivered to Landlord on or before July 1, 2012 and shall specify the effective date of Tenant’s intended occupancy of the Second Expansion Space (the “Second Expansion Occupancy Date”). The Second Expansion Occupancy Date shall be no earlier than January 1, 2013 and no later than March 1, 2014. In the event Tenant timely notifies Landlord of its intent to expand into the Second Expansion Space, Landlord shall, at its sole cost and expense, relocate any then existing tenant (or tenants) occupying the Second Expansion Space to another space in the Building or in the Park such that Tenant shall have occupancy of the Second Expansion Space by the Second Expansion Occupancy Date. Landlord and Tenant shall amend the lease to include the Second Expansion Space and the Second Expansion Space shall thereafter become part of the Leased Premises on the same terms and conditions set forth in the Lease, subject to the following changes:
(i) The term for the Second Expansion Space shall be coterminous with (i) the term for the First Expansion Space or (ii) ten (10) years, in the event Tenant failed to expand into the First Expansion Space. If the term of the Second 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 Second Expansion Space. The Minimum Annual Rent for the Second Expansion Space shall be equal to the “Fair Market” Base Rental Rate, provided, however, that in no event shall Tenant’s Minimum Annual Rent per square foot for the Second 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 Second 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 through the remainder of the Lease Term.
(ii) Tenant’s Proportionate Share shall b...
Second Expansion Space. Commencing on May 1, 2009 (the “Second Expansion Commencement Date”), Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, 4,699 square feet of Rentable Area consisting of a portion of the first floor of the 555 Building, as more particularly described in the attached Exhibit A (the “Second Expansion Space”). The Term of the Lease for the Second Expansion Space shall be coterminous with the Term of the Lease for the remainder of the Premises, except that Landlord shall have the right to terminate the Lease as to the Second Expansion Space upon sixty (60) days prior written notice to Tenant (the “Expansion Termination Notice”). The actual term of the Lease for the Second Expansion Space shall be referred to herein as the “Second Expansion Term”. During the Second Expansion Term, the term “Premises” as used in the Lease shall be deemed to mean the 575 Premises, the 555 Premises and the Second Expansion Space and all of the terms and conditions of the Lease shall apply to the Second Expansion Space, except as otherwise expressly provided herein.
Second Expansion Space. With respect to the Second Expansion Space only, (a) Tenant’s Base Year shall be the calendar year 2005 and Tenant shall commence paying Tenant’s Proportionate Share of increases Operating Expenses effective January 1, 2006, and (b) Tenant’s Proportionate Share of the Total Rentable Area of the Office Tower shall be 0.5518% (based on 3,097 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 0.5173% (based on 598,635 rentable square feet in the Project).
Second Expansion Space. The area of the Premises leased to Tenant under the Lease is expanded as of the Effective Date by an additional 3,325+/- square feet, the location of such additional area being depicted and labeled as the “Second Expansion Space” on the Exhibit A attached hereto and made a part hereof (the “Second Expansion Space”). As of the Effective Date the Second Expansion Space shall be encompassed and included within the definition of the Premises leased to Tenant under the Lease, and the area of the Premises is agreed to be 7,125 square feet.
Second Expansion Space. From and after the Second Expansion Space Commencement Date, as hereinafter defined, Landlord hereby agrees to and shall lease unto Tenant and Tenant hereby agrees to and shall rent from Landlord, for the balance of the Lease Term, in addition to the Leased Premises, that portion of the Building containing seven thousand seven hundred twenty-five (7,725) rentable square feet on the first (1st) floor of the Building (hereinafter sometimes referred to as either “Premises E” or the “Second Expansion Space”), as outlined in red on Exhibit “A” attached hereto and incorporated herein.
Second Expansion Space. Effective March 1, 1995 (the "Second Expansion Date"), the Premises shall be expanded to include Suite 525 of the Building (the "Second Expansion Space"). The Second Expansion Space is depicted on Exhibit "B" which is attached hereto and incorporated herein by reference. The Second Expansion Space shall become part of the Premises and all terms and conditions of the Lease, as amended, shall apply to the Second Expansion Space.
Second Expansion Space. The Term with respect to the Second Expansion Space shall commence on the Second Expansion Space Commencement Date and shall expire (if not otherwise terminated sooner in accordance with the terms of the Lease or this Amendment) on the Revised Expiration Date.
Second Expansion Space. Effective on August 1, 2014 (the “Effective Date”), Tenant leases from Landlord and Landlord leases to Tenant certain space, as further depicted on Exhibit A attached hereto and as Exhibit A to the Second Amendment, consisting of 184,813 rentable square feet (the “Second Expansion Space”), on the terms and conditions set forth in the Lease, except as modified hereby. The term of the Lease, as it relates to the Second Expansion Space only, is for a period of seven (7) years, ending on July 31, 2021 (“Second Expansion Space Term”), subject to the Right of Termination set forth in Paragraph 8 below. From and after the Effective Date, the “Premises” shall consist of the original leased Premises of 126,352 square feet; the First Expansion Space of 20,000 square feet and the Second Expansion Space of 184,813 square feet; for a total of 331,165 square feet.
Second Expansion Space. Notwithstanding the addition of the Second Expansion Space to the Premises as provided herein, commencing on the Second Expansion Commencement Date and continuing throughout the Second Expansion Term, Tenant shall pay Tenant's Percentage Share of Operating Expenses with respect to the Second Expansion Space in accordance with the terms of the Lease; provided, however, (i) Tenant's Percentage Share for the Second Expansion Space shall be calculated separate and apart from the Original Premises and the remainder of the Expansion Premises, (ii) Tenant's Percentage Share with respect to the Second Expansion Space shall be equal to 1.12%, and (iii) the Operating Expenses Allowance for the Second Expansion Space shall be the amount which is the product of Tenant's Percentage Share with respect to the Second Expansion Space times the Operating Expenses incurred for the Building during calendar year 2001 and adjusted to reflect an assumption that the Building was ninety-five percent (95%) occupied for 2001 and ninety-five percent (95%) completed for maintenance and repairs purposes and fully assessed for tax assessment purposes.
Second Expansion Space. Subject to the terms and conditions set forth herein, Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, for a term beginning on the Second Expansion Space Commencement Date and ending on April 30, 2013 (i.e. the “Lease Expiration Date” under the Original Lease), 27,752 rentable square feet of office space consisting of the entire sixth (6th) floor of the Building, as shown on the attached Exhibit A (the “Second Expansion Space”). As of the Second Expansion Space Commencement Date, the aggregate number of rentable square feet demised to Tenant under the Lease (consisting of the Original Premises, the Expansion Space and the Second Expansion Space) shall be 70,422. Notwithstanding the foregoing, in the event the Must-Take Space Commencement Date occurs prior to the Second Expansion Space Commencement Date, then, as of the Second Expansion Space Commencement Date, the aggregate number of rentable square feet demised to Tenant under the Lease (consisting of the Original Premises, the Expansion Space, the Second Expansion Space and the Must-Take Space) shall be 98,174.