Expansion of Premises. Provided that the demising wall is erected in the location specified on Exhibit A attached hereto, for purposes of calculating Fixed Monthly Rent and Tenant’s Share the parties hereby stipulate that the Expansion Premises contains approximately 9,271 square feet of Rentable Area and approximately 7,836 square feet of Usable Area. As of the Expansion Date, the definition of the Premises shall be revised to include both the Existing Premises and the Expansion Space, and wherever in the Lease the word “Premises” is found, it shall thereafter refer to both the Existing Premises and the Expansion Space together, as if the same had been originally included in said Lease, subject to the terms and conditions of this First Amendment. Landlord and Tenant agree that a recalculation of the Usable Area of the Expansion Space shall be made after the Expansion Date by Xxxxxxxxx Systems, Inc., an independent planning firm, using the 2010 ANSI/BOMA Standard set forth collectively by the American National Standards Institute and the Building Owners and Managers Association (“ANSI/BOMA Standard”), as a guideline, and that Landlord is utilizing a deemed add-on factor of 18.31% to compute the Rentable Area of the Expansion Space. Tenant and Landlord agree to document the revised Usable Area as documented by Xxxxxxxxx Systems, and the other matters specified below that will be determined upon such Usable Area being confirmed, in the Memorandum (as defined in Section 4 below). Landlord and Tenant further agree that the Rentable Area of the Expansion Space shall be calculated on the basis of 1.1831 times the estimated Usable Area, regardless of what actual common areas of the Building may be, or whether they may be more or less than 18.31% of the total estimated Usable Area of the Building, and is provided solely to give a general basis for comparison and pricing of this space in relation to other spaces in the market area. Landlord and Tenant further agree that once the Rentable Area and Usable Area of the Expansion Space have been determined as specified hereinabove, even if later either party alleges that the actual Rentable Area or Usable Area of the Expansion Space is more or less than the figures stated herein; and whether or not such figures are inaccurate, for all purposes of the Lease, the Rentable and Usable figures agreed upon shall be conclusively deemed to be the Rentable Area, or Usable Area of the Expansion Space, as the case may be. Notwithstanding any adjustment ...
Expansion of Premises. From and after “the Expansion Commencement Date” the Premises shall be expanded by adding the 4th Floor Expansion Space thereto (consisting of approximately 21,068 rsf in the 4th Floor Expansion Space of the Building for a new total of rentable square footage in the entire Premises of 38,194 rsf). The Expansion Commencement Date shall be the earlier of (a) June 1, 2007, or (b) the date Tenant commences business in the 4th Floor Expansion Space.
Expansion of Premises. Upon the exercise of such expansion option, Landlord and Tenant shall enter into a written agreement modifying and supplementing this Lease and specifying that the Expansion Space is part of the Premises under this Lease and containing other appropriate terms and provisions relating to the addition of the Expansion Space to this Lease.
Expansion of Premises. Concurrent with the execution of this Amendment, Landlord closed on the purchase of certain real property located in Perth, New York (collectively, the “Additional Parcel”), as more particularly described in that certain Purchase and Sale Agreement and Joint Escrow Instructions dated August 31, 2021, by and between Landlord and Tenant (the “Additional Parcel Purchase Agreement”). Landlord desires to lease to Tenant, and Tenant desires to lease from Landlord, the Additional Parcel pursuant to the terms and conditions of the Lease. Accordingly, effective as of the Amendment Effective Date, Exhibit A to the Existing Lease is hereby deleted in its entirety and replaced with Exhibit A to this Amendment, and all references in the Lease to the “Premises” shall mean and refer to the real property described on Exhibit A attached to this Amendment, including the Buildings, shafts, cable runs, mechanical spaces, rooftop areas, landscaping, parking facilities, private drives and other improvements now or hereafter located thereon and appurtenances related thereto for use by Tenant in accordance with the Permitted Use.
Expansion of Premises. 43.01 Tenant is hereby granted the option (the "Expansion Option") to cause Landlord to construct or cause to be constructed an expansion of the building in which the Premises are located which expansion shall include approximately one hundred forty-five thousand (145,000) square feet of warehouse space located on the South portion of the real property included in the Project as shown on Exhibit A- 2 attached hereto as "Future Expansion" (the "Expansion Premises"). The Expansion Option may be exercised by Tenant only by delivery of written notice to Landlord or Tenant's exercise of its rights under this Article 43. (the "Expansion Notice"), which must be received by Landlord not later than the third (3rd) anniversary of the Lease Commencement Date. If Tenant fails to timely deliver such Expansion Notice or if the Lease is terminated pursuant to any of its other terms or provisions prior to the third (3rd) anniversary of the Lease Commencement Date, Tenant's rights to exercise the Expansion Option shall lapse and Landlord shall be free to develop, hold, or sell the portion of the Project on which the Expansion Premises are to be located as Landlord chooses, in Landlord's sole and absolute discretion. The Expansion Option shall be exercisable by Tenant on the express conditions that (i) at the time of delivery of the Expansion Notice, Tenant shall not be in default under this Lease after expiration of the applicable cure period, (ii) Tenant has not previously been in default after expiration of the applicable cure period under this Lease on more than three (3) separate occasions during the Lease Term, and (iii) Tenant has not assigned this Lease or sublet all or any part of the Premises, it being understood that the Expansion Option is personal to the original named Tenant under this Lease. In the event of any such assignment or sublease, the Expansion Option shall lapse and be null and void and of no further force and effect.
Expansion of Premises. Subject to and upon the terms, provisions and conditions hereinafter set forth and each in consideration of the duties, covenants and obligations of the other hereunder, Landlord does hereby lease to Tenant and Tenant does hereby lease from Landlord an additional approximately 19,506 square feet of Net Rentable Area consisting of the entire sixth (6th) floor of the Building (the “Expansion Premises”) and more particularly shown on the floor plan of the Expansion Premises attached hereto as Exhibit A and incorporated herein by reference. From and after the Effective Date, Landlord and Tenant hereby stipulate and agree that, for all purposes under the Lease, the Leased Premises (as defined in the Lease) shall be comprised of the Existing Premises and the Expansion Premises and shall contain approximately 108,062 square feet of Net Rentable Area. Except as otherwise expressly set forth herein, the terms of the Lease shall apply to the Leased Premises as including both the Existing Premises and the Expansion Premises.
Expansion of Premises. If, during the Term of this Agreement, the City finds that arrangements that warrant additional food & beverage facilities are required for the good of the traveling public, the City, upon approval of the Board, may negotiate for the operation of said facilities. Only concessionaires with existing food & beverage operations in the terminal where the planned facility will be located will be invited to participate in the competitive solicitation process. Following the competitive solicitation process, LAWA will select a concessionaire deemed most qualified to operate the planned concept. If Concessionaire is selected and City and Concessionaire have not entered into an agreement within one month of City’s notice that such potential unit location is available, City may offer said concession rights to other concessionaires. Improvements made by Concessionaire as a result of said expansion shall be subject to the buy-out provisions of Section 9.1.1. the same as if they were made within an original premises hereof. Net Book Value protection will extend to the undepreciated value of any additional new facilities required. Requirements for approval and reporting will be the same as for initial facilities and the depreciation schedule shall be the same provided that such facilities are not temporary.
Expansion of Premises. As of the Expansion Date, Landlord will have delivered the Expansion Area to Tenant and Tenant agrees to accept and lease the Expansion Area from Landlord. Thereafter, the Premises governed by the Lease will be the Revised Premises, including, for all purposes, the Initial Premises and the Expansion Area, and totaling 49,249 Rentable Square Feet.
Expansion of Premises. Effective as of November 1, 2003 (the “Effective Date”), the Premises are expanded to include 889 square feet of space located on the sixth (6th) floor of the Building identified as a portion of Suite 670 and as shown on Annex 1, attached hereto and incorporated herein (“Suite 670 Expansion Space”). Lessor and Lessee agree and acknowledge that the Lease Term applicable to the Suite 670 Expansion Space expires April 30, 2008.
Expansion of Premises. (a) On the condition that this Lease is in full force and effect as of the commencement of the fourth Lease Year, then, effective as of the commencement of the fourth Lease Year, Landlord hereby leases to Tenant and Tenant hereby leases from Landlord, subject to and with the benefit of the terms, covenants, conditions and provisions of this Lease, approximately 25,000 r.s.f. in the Building (the "First Expansion Space") in its then "AS IS" condition but subject to Section 10.11(e) hereof, and on the condition that this Lease is in full force and effect as of the commencement of the sixth Lease Year, then effective as of the commencement of the sixth Lease Year, Landlord hereby leases to Tenant and Tenant hereby leases from Landlord, subject to and with the benefit of the terms, covenants, conditions and provisions of this Lease, approximately 25,000 r.s.f. in the Building (the "Second Expansion Space") in its then "AS IS" condition but subject to Section 10.11(e) hereof. Landlord and Tenant agree that the Premises initially demised to Tenant by Landlord pursuant to this Lease, together with the First Expansion Space and the Second Expansion Space, will constitute all of the Rentable Square Footage in the Building except for the Retail Space.
