Building Expansion. The entire acreage described in paragraph 2 is reserved for the present or future use of the LESSEE. Without the written consent of the LESSEE the LESSOR shall not subdivide the property during the term of this lease or any extension thereof. Should the LESSOR be unable or unwilling to construct additional facilities as requested by the LESSEE during the initial term of this lease or any extension thereof, LESSEE may exercise an option to purchase the property as provided in paragraph 21.
Building Expansion. Provided this Lease is then in full force and effect and Tenant is not in default beyond any applicable grace period set forth in this Lease, and there is no sublease for the entire Premises or assignment of any of Tenant's interest in the Lease, other than Permitted Transfers, then at Tenant's option, subject to all government regulations and the provision of the park covenants of record, the Building may be expanded up to 20,000 square feet, provided Landlord and Tenant agree upon the cost, financing and other terms and conditions of said expansion.
Building Expansion. (a) Tenant may elect to have Landlord (i) expand the Building by up to a maximum of one hundred and twenty thousand (120,000) square feet of contiguous space on the same grade as the primary building (the “Building Expansion”) or (ii) construct a new building on that portion of the Land depicted on Exhibit C hereof (the “New Building”), by providing Landlord with written notice of its election (the “Expansion Notice”) and specifying whether Tenant is electing the Building Expansion or the New Building (such election, the “New Construction”). Within thirty (30) days following receipt of the Expansion Notice, Landlord and Tenant shall use good faith efforts to determine the rent constant for the New Construction which shall be based on the prevailing cap rates for single tenant industrial distribution warehouses in the Richmond, Virginia market taking into account Tenant’s credit worthiness, the Premises location, and total cost of development for the expansion, among other reasonable factors. If Landlord and Tenant cannot agree upon a rent constant for the New Construction, Tenant may rescind the Expansion Notice.
Building Expansion. Should a termination of this Agreement occur, ADM will retain ownership of the building expansion constructed for the Solazyme Downstream Assets and, if necessary, ADM will allow and make reasonable accommodation to Solazyme, for the removal of the Solazyme Downstream Assets.
Building Expansion. If the building is expanded during the initial term of the Lease Agreement, the following additional charge will be made on top of the monthly rent stated on Clause V.A. of this Lease Agreement: As additional monthly rent for the Expansion of the building during the initial Lease Term, COMPANY shall pay to TEDE at the address of TEDE stated above, the additional rent equivalent for the then current lease rate per square foot of covered area per month, at the time that the expansion is completed. The lease rate will be applicable only to the improvements made by TEDE in addition to the original improvements described on exhibit D.
Building Expansion. The Building Expansion shall contain a minimum of 140,176 square feet of distribution/warehouse space; provided that the square footage of the distribution/warehouse space contained in the Building Expansion shall not exceed the maximum square footage of the distribution/warehouse space that can be constructed on the Expansion Parcel: (a) in accordance with usual and customary site development and construction standards and techniques; and (b) in compliance with all Applicable Laws.
Building Expansion. (a) At any time after the Lease Term Commencement Date and prior to January 1, 2014, Tenant may provide written notice (“Notice of Expansion”) to Landlord requesting the Landlord construct an expansion of the Building of approximately 17,000 square feet for light manufacturing use (“Expansion”), reasonably incorporating the features of the Expanded Building Site Plan which is Exhibit D to this Lease. Such written notice shall specify (“Expansion Completion Date”) which date shall be as early as reasonably possible but not later than twelve (12) months after the date of the Notice of Expansion. Thereafter, Landlord shall, subject to the additional terms and conditions in Sections 2.04(b) – (f) below, design and construct the Expansion.
Building Expansion. In the event the Tenant elects to expand the Building, as currently depicted on Exhibit C hereto, then Tenant shall reimburse Landlord, in the manner provided below, for all costs incurred by Landlord to construct such expansion. The Building may be expanded by up to 3,600 square feet on the ground floor and up to 9,000 square feet on the second floor. To the extent the Building is expanded on the ground floor, Tenant will also be required to reimburse Landlord for all costs incurred to provide one (1) additional parking space for each 000 xxxxxx xxxx xx xxxxx xxxxx xxxx added to the ground floor plus that portion of any new second floor space added over said new ground floor expansion area. The costs of any Building or parking expansion will be paid by Tenant pursuant to a Modification approved by Landlord and Tenant. Tenant will be required to make the following payments to Landlord to cover the costs incurred by Landlord for such expansion of the Building (and any required parking lot expansion): (1) $75,000.00 on July 1, 2004; (2) $75,000.00 on September 1, 2004; (3) $75,000.00 on October 1, 2004; (4) the balance upon the earlier of the Commencement Date or November 1, 2004; and (5) any additional sums due Landlord by Tenant in connection with such Building and parking lot expansion which are not known or confirmed by Landlord as of the fifth (5) business day preceding the Commencement Date, shall be due and payable sixty (60) days following the Commencement Date. Portions of the costs to be incurred for Building and parking lot expansion may be estimated by Landlord at the time the pertinent Modification is executed and, as the actual costs for such work are finally determined, on an open book basis, the final payment for said work will be adjusted to collect only those costs actually incurred by Landlord to construct said Building expansion (and any required parking lot expansion).
Building Expansion. Until the earlier of (i) the expiration or termination of this Lease, or (ii) the last day of the Development Protection Period (as defined in Exhibit C of the Master Agreement), Tenant will have the exclusive right to collaborate with Landlord on the expansion of the Building, consistent with the overall development goals for the Park as set forth in Recital A of the Master Agreement, and Landlord will negotiate in good faith with Tenant for such expansion on market terms, which may include the requirement to remove the temporary addition on the south facade of the Building which was installed by Tenant (the “Temporary Addition”) and restoration of the Property affected thereby. The foregoing exclusive right shall terminate upon any monetary default by Tenant under this Lease that remains uncured after three (3) months or more, even if subsequently cured.
Building Expansion. In the event that Landlord desires to expand the ------------------ Building, then Landlord shall first submit all plans and specifications to Tenant for Tenant's review of the architectural design, building materials, and site plan, and subsequent approval or disapproval, which shall not be unreasonably withheld. Landlord , if said expansion takes place, plans to use the same materials, architectural design of the existing Building, and conform to the codes of Norfolk and the Norfolk Commerce Park. In the event of expansion, Landlord shall continue to maintain parking spaces equal to the sum of (i) 225 required spaces for Tenant hereunder, plus (ii) the number of parking spaces required under the then current zoning ordinance of the City of Norfolk, Virginia for the same square footage of such expansion plus the square footage of the Building which is not to be occupied by Tenant.
