Tenant's Expansion Rights Sample Clauses

Tenant's Expansion Rights is a lease clause that grants the tenant the option to lease additional space within the property if it becomes available during the lease term. Typically, this right outlines the conditions under which the tenant can exercise the option, such as the timing, the specific areas covered, and the rental terms for the expansion space. The core function of this clause is to provide the tenant with flexibility to grow their operations without relocating, while also giving them priority over new tenants for available space.
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Tenant's Expansion Rights. Buildings F, G and H (A) On the conditions (which conditions Landlord may waive by written notice to Tenant at any time), that as of both the time that any portion of the RFO Premises (as hereinafter defined) becomes available for reletting (as hereinafter defined) and as of the commencement date of Tenant's leasing of such portion of the RFO Premises: (i) Tenant directly leases from Landlord at least 75,000 square feet of rentable floor area, (ii) no monetary or other material Event of Default of Tenant exists and there have been no more than two (2) monetary or other material Event of Default occurrences during the Lease Term, (iii) this Lease is still in full force and effect, and (iv) Tenant has neither assigned this Lease nor sublet more than fifty percent (50%) of the Total Rentable Floor Area of the Buildings (except for an assignment or sublease under Section 5.6.1 above or an occupancy permitted pursuant to Section 5.6.6 above), Tenant shall have a right of first offer ("Right of First Offer") to lease the RFO Premises, as hereinafter defined. For the purposes hereof, the "RFO Premises" shall be defined as any and all space in Buildings F, G and H of the Complex as and when such space becomes available for reletting (as hereinafter defined); provided, however, that Landlord shall have the right to reconfigure portions of the RFO Premises (e.g. to subdivide an existing space or to combine several spaces to create one larger space) prior to offering the same to Tenant hereunder if in Landlord's reasonable judgment such reconfiguration is necessary or desirable to create a commercially rentable layout. (B) When any portion of the RFO Premises becomes available for reletting, as hereinafter defined, Landlord shall notify Tenant ("Landlord's RFO Premises Notice") of the availability of such space, which notice shall contain the size, configuration, location and date of availability of such RFO Premises, the Annual Market Rent, and the other business terms upon which Landlord is willing to so lease such space. The net effective rental rate set forth in Landlord's RFO Premises Notice expressed by the (i) Annual Market Rent for the RFO Premises quoted by Landlord, (ii) amount of Base Taxes and Base Operating Expenses, (iii) free rent or "build-out" period, if any, after the commencement of the lease term, (iv) tenant improvement allowance, if any, and (v) length of the lease term, shall hereinafter be referred to as "Landlord's Offered Rental Terms." For ...
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Tenant's Expansion Rights. (a) Article Forty-Two of the Lease is ------------------------- hereby deleted in its entirety. (b) Provided no event of default shall have occurred and be continuing, Tenant may notify Landlord, by written notice delivered on or before December 31, 2000 (the "Election Notice") whether it wishes to lease either one- half or all of one or more of the basement, second, third and fourth floors in the Building (the "Expansion Space"), provided, however, in exercising its option for only a portion of the Expansion Space, Tenant must lease in increments of either one-half or full floors (other than the basement) but Tenant may not lease half floor increments on two separate floors. TIME SHALL BE OF THE ESSENCE with respect to the delivery of the Election Notice. If the Tenant timely delivers an Election Notice, then the Expansion Space shall be added to and shall be part of the premises upon the same terms and conditions of the Lease subject to the following: (i) The term for the Expansion Space shall commence as of the date Landlord delivers vacant possession of such space to the Tenant, which delivery shall occur no later than thirty days after the expiration or earlier termination of the leases currently in effect for such space, provided, however, that with respect to any Expansion Space Located on the second or third floor, if Tenant has elected to lease the entire floor, the term for such floor shall not commence until the Landlord delivers possession of the entire floor. The term for any Expansion Space located on the fourth floor may, at the Tenant's option, expire as of December 31, 2007 or December 31, 2012 (the Tenant agreeing to notify the Landlord as to which expiration date it elects for the fourth floor in its Election Notice), and the term for the basement space shall expire, unless sooner terminated in accordance with the provisions of the Lease as of the Expiration Date. With respect to any Expansion Space located on the second and third floors of the Building, the Tenant shall specify, in its Election Notice, the term for which it elects to lease such space, which shall be no less than ten nor more than fifteen years, and, in such event, the term of the Lease for Expansion Space located on the second or third floors shall expire as of the last day of the calendar month in which the specified anniversary of the commencement date for such space occurs. (The Tenant must elect the same term of Lease for all space on the second and third floors.) T...
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Tenant's Expansion Rights. With respect to any portion of the Building not included in the Premises that is now or hereafter leased to a third party, in the event any such area under lease thereafter becomes available for lease to a party other than the existing, tenant thereof, and no other tenant of the Building having, an option or preferential right with respect to such area which was granted prior to the execution of this Lease by Landlord and Tenant exercises such option or preferential right with respect to such area, Landlord will notify Tenant of the availability of such area and the terms upon which Landlord is willing to lease such area. Landlord shall not be obligated by this provision to enter into a lease with Tenant with respect to any such area or to negotiate with Tenant with respect to the possible lease of any such area to the exclusion of other potential tenants. The purpose of this provision is merely to assure Tenant that Tenant will be made aware of the existence of newly available portions of the Building that are now or hereafter leased to third parties when such space becomes available.
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Tenant's Expansion Rights. On the conditions (which conditions Landlord may waive, at its election, by written notice to Tenant at any time) that Tenant is no Event of Default has occurred and is continuing and that ▇▇▇▇▇▇ Worldwide LLC, ▇▇▇▇▇, ▇.▇., and/or Tenant Affiliates and/or a Permitted Tenant Successor (each as defined in Section 12.2) are occupying, in the aggregate, at least seventy-five (75%) percent of the Rentable Floor Area of the Premises then demised to Tenant, both at the time that Tenant gives the applicable Expansion Exercise Notice, as hereinafter defined, and as of the Commencement Date in respect of the Expansion Area in question, Tenant shall have the following right to lease the Expansion Areas, as hereinafter defined. -88-
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Tenant's Expansion Rights. (A) Subject to the provisions of this Section 2.5, by notice given by Tenant to Landlord ("Tenant's Notice") not later than ninety (90) days following the Office Premises Commencement Date (time being of the essence), which Tenant's Notice shall be accompanied by a payment to Landlord in the amount of the product of (i) $200.00 and (ii) the number of days from the Office Premises Commencement Date through the date Tenant gives Tenant's Notice to Landlord ("Tenant's Payment"), Tenant shall have the right to lease the First Offer Space; provided that, as of the date Landlord receives Tenant's Notice (i) there exists no "Event of Default" (as defined in Section 15.1), (ii) this Lease is still in full force and effect and (iii) except for an assignment or subletting permitted under Section 12.2 hereof, Tenant has neither assigned this Lease nor sublet more than twenty-five percent (25%) of the Rentable Floor Area of the Premises in the aggregate at that time under lease, leases or lease amendments between Landlord and Tenant. The Tenant's Payment shall be deemed earned for all purposes when received by Landlord and shall not be credited against any Annual Fixed Rent or Additional Rent and shall not be refunded to Tenant. If
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Tenant's Expansion Rights. On the conditions (which conditions Landlord may waive, at its election, by written notice to Tenant at any time) that Tenant is not in default of its covenants and obligations under the Lease and that Manhattan Associates, Inc., itself, and/or a Permitted Tenant Successor and/or Affiliated Entity, each as defined in Section 5.6 are occupying the entirety of the Premises then demised to Tenant, both at the time that Tenant gives a Tenant Request, as hereinafter defined, and as of the Term Commencement Date in respect of the Expansion Premises, Tenant shall have the following right to lease the Expansion Premises, as hereinafter defined. A. Definition of Expansion Premises
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Tenant's Expansion Rights 
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Tenant's Expansion Rights 
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Related to Tenant's Expansion Rights

  • Landlord’s Option to Repair Notwithstanding the terms of Section 11.1 of this Lease, Landlord may elect not to rebuild and/or restore the Premises, Building and/or Project, in which event this Lease shall terminate, by notifying Tenant in writing of such termination within sixty (60) days after the date of discovery of the damage, such notice will include a termination date giving Tenant sixty (60) days to vacate the Premises, but this Lease may be so terminated Landlord may so elect only if the Building or Project shall be damaged by fire or other casualty or cause, whether or not the Premises are affected, and one or more of the following conditions is present: (i) in Landlord’s reasonable judgment, repairs cannot reasonably be completed within one hundred eighty (180) days after the date of discovery of the damage (when such repairs are made without the payment of overtime or other premiums); (ii) the holder of any mortgage on the Building or Project or ground lessor with respect to the Building or Project shall require that the insurance proceeds or any portion thereof be used to retire the mortgage debt, or shall terminate the ground lease, as the case may be; (iii) the damage is not fully covered by Landlord’s insurance policies or that portion of the proceeds from Landlord’s insurance policies allocable to the Building or the Project, as the case may be; (iv) Landlord decides to rebuild the Building or Common Areas so that they will be substantially different structurally or architecturally; (v) the damage occurs during the last twelve (12) months of the Lease Term; or (vi) any owner of any other portion of the Project, other than Landlord, does not intend to repair the damage to such portion of the Project; provided, however, that if such fire or other casualty shall have damaged the Premises or a portion thereof or Common Areas necessary to Tenant’s occupancy and as a result of such damage the Premises are unfit for occupancy, and provided that Landlord does not elect to terminate this Lease pursuant to Landlord’s termination right as provided above, and either (a) the repairs cannot, in the reasonable opinion of Landlord’s contractor, be completed within two hundred seventy (270) days after being commenced, or (b) the damage occurs during the last twelve months of the Lease Term and will reasonably require in excess of ninety (90) days to repair, Tenant may elect, no earlier than sixty (60) days after the date of the damage and not later than ninety (90) days after the date of such damage, to terminate this Lease by written notice to Landlord effective as of the date specified in the notice, which date shall not be less than thirty (30) days nor more than sixty (60) days after the date such notice is given by Tenant.

  • 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.

  • Landlord Improvements Prior to Tenant’s occupancy, Landlord shall complete the Landlord Improvements. Landlord shall use commercially reasonable efforts to complete the Landlord Improvements by the Anticipated Rent Commencement Date. (a) As of November 4, 2011, after consultation with Tenant, Landlord has provided Tenant with Landlord’s proposed plans and specifications (defined below in subpart (c))for the Landlord Improvements (such plans and specifications, as amended in accordance with the provisions of this Rider 101, are hereafter called “Plans and Specifications”). (b) The Plans and Specifications have been accepted by both Tenant and Landlord, the Plans and Specifications are incorporated herein by reference and made a part hereof for all purposes. (c) Landlord and Tenant acknowledge that the plans dated November 4, 2011, by Page ▇▇▇▇▇▇▇▇▇▇▇ Page, LLP have been approved by both parties and shall constitute the “Plans and Specifications.” (d) Promptly upon approval of the Plans and Specifications, Landlord has caused general contractors to bid for construction of the Landlord Improvements. All bids have been opened together, with Landlord selecting the general contractor with the lowest bid to construct the Landlord Improvements (the “General Contractor”), subject to the reasonable approval of Tenant. Landlord shall enter into a guaranteed maximum price construction contract with the General Contractor in the amount of its bid (the “Approved Bid”) and shall not modify such contract without Tenant’s consent, which shall not be unreasonably withheld, delayed or conditioned. Landlord and Tenant have reviewed the Plans and Specifications and the bids and have agreed upon the scope of work to be constructed at a cost of construction not to exceed the Landlord’s Contribution.

  • Landlord Work Prior to the execution of this First Amendment, Landlord and Tenant have approved (i) a detailed space plan for the construction of Landlord’s Work in the Premises, which space plan has been prepared by Studio O + A (“Final Approved Plan”) and (ii) a bid proposal for the construction of Landlord’s Work in the Premises, which bid proposal has been prepared by ▇▇ ▇▇▇▇ Construction and is dated June 2, 2011 (Rev-2) (“Bid Proposal”). The Final Approved Plan and Bid Proposal are approved by the parties as of the Effective Date, are attached hereto collectively, as Exhibit “D-1” and hereby replaces the original Approved Plan attached to the Lease as Exhibit “D-1”. Consequently, all references in the Work Letter to the “Approved Plan” shall mean and refer to the Final Approved Plan and Bid Proposal attached hereto as Exhibit “D-1”. Landlord agrees to construct the Landlord Work, pursuant to the terms and conditions set forth in the Work Letter and as depicted on the Approved Plan (as amended hereby). Landlord shall pay for the cost (including, the cost of obtaining all applicable building permits) of the design and construction of Landlord’s Work in an amount up to, but not exceeding, Two Hundred Twenty Two Thousand One Hundred Fifty and 00/100 Dollars ($222,150.00) plus any additional costs actually incurred by Landlord in excess of such $222,150.00 amount as a direct result of Landlord’s or Landlord’s contractor’s active negligence or willful misconduct or resulting from change order to the Approved Plans (as amended hereby) if such change order is initiated and executed by Landlord (the “Landlord’s Contribution”). Tenant shall pay for all costs in excess of the Landlord’s Contribution (“Over Allowance Amount”) which payment shall be made to Landlord in cash within thirty (30) days after Tenant’s receipt of invoice therefor from Landlord. Payment of the Over-Allowance Amount shall be in addition to Tenant’s obligation to pay to Landlord the cost of any Aggregate Extras as provided in Section 4 of the Work Letter.

  • Landlord’s Options Landlord shall have the option, exercisable by written notice delivered to Tenant within twenty (20) days after Landlord’s receipt of a Transfer Notice accompanied by the other information described in Section 12.1, to: (a) permit Tenant to Transfer the Premises; or (b) disapprove (provided, Landlord’s disapproval must be in accordance with Section 12.1 hereof) the Tenant’s Transfer of the Premises and to continue the Lease in full force and effect as to the entire Premises; or (c) in the event of (i) a proposed assignment of the Lease or (ii) a sublease of more than 50% of the Premises (taking into account all sublets in the aggregate) for all or substantially all of the balance of the Term, terminate the Lease as of the proposed effective date of the Transfer set forth in Tenant’s Transfer Notice (a “Recapture”); provided, however, that if Landlord shall notify Tenant of Landlord’s intention to Recapture the Premises, Tenant may elect to withdraw its Transfer Notice by written notice of such election delivered to Landlord within ten (10) business days of Tenant’s receipt of Landlord’s Recapture notice. If Landlord approves of the proposed Transfer pursuant to Section 12.1 above, Tenant may enter into the proposed Transfer with such proposed Transferee subject to the following conditions: (i) the Transfer shall be on the same terms set forth in the Transfer Notice; and (ii) no Transfer shall be valid and no Transferee shall take possession of the Premises until an executed counterpart of the assignment, sublease or other instrument effecting the Transfer (in the form approved by Landlord) has been delivered to Landlord pursuant to which the Transferee shall expressly assume all of Tenant’s obligations under this Lease applicable to that portion of the Premises then being transferred (provided that, for a subtenant, the rental obligations shall be governed by the terms of the applicable sublease). If Landlord exercises its option to terminate this Lease (or in the case of a partial sublet to release Tenant with respect to a portion of the Premises) as provided above, Tenant shall surrender possession of the Premises on the proposed effective date of the Transfer set forth in Tenant’s Transfer Notice, and thereafter neither Landlord nor Tenant shall have any further liability with respect thereto, except with respect to those matters that expressly survive the termination of the Lease.