Exercise of Expansion Option. Tenant may exercise its right to expand by notifying Landlord, in writing, of its election to exercise the Expansion Option ("Notice of Exercise") at least nine (9) months prior to the desired occupancy date for the Premises, which Notice of Exercise shall specify the exact desired occupancy date ("Desired Occupancy Date"); provided that, subject to the provisions below, there will still be at least five (5) years remaining in the Initial Term after the Desired Occupancy Date. In the event that there will not be at least five (5) years remaining in the Initial Term at the time Tenant desires to exercise its Expansion Option, Tenant may still exercise its Expansion Option up until nine (9) months prior to the end of the Initial Term ("Expansion Option Termination Date") if, in Tenant's Notice of Exercise, Tenant indicates that it is also electing to extend the Initial Term by the number of days necessary to cause there to be exactly five (5) years between the Desired Occupancy Date and the expiration of the Initial Term ("Extension Election"). In the event, Tenant exercises the Extension Election, the commencement date for the Expansion Space shall occur upon Substantial Completion of the Expansion Space Landlord's Improvements (as described in the Work Letter) ("Expansion Space Commencement Date"). The term of the Lease for the Expansion Space shall terminate concurrently with the Term of the Lease for the balance of the Premises.
Exercise of Expansion Option. Tenant shall exercise the Expansion Option by delivering written notice of such exercise to Landlord not less than six (6) months prior to the Effective Date for such option as set forth above. Any Expansion Option which is not timely exercised shall expire without any further notice or demand by Landlord.
Exercise of Expansion Option. Landlord and Tenant acknowledge that by entering into this Amendment Tenant has exercised the expansion option for the Expansion Space and that Tenant has no further expansion options.
Exercise of Expansion Option. Tenant shall have unconditionally and irrevocably exercised the Expansion Option for a lease term commencing on June 15, 2016, and Mortgagor and Tenant shall have entered into an amendment to the Lease as contemplated in Section 1.2 of the Lease, or the Replacement Lease shall have been executed and delivered and all contingencies other than build-out and delivery of the Expansion Premises shall have been satisfied;
Exercise of Expansion Option. Pursuant to Article 1.3 of the Lease, Tenant does hereby exercise its Expansion Option with respect to two (2) separate spaces, the first space consisting of 1,101 rentable square feet of space located on the third floor of the Building ("Suite 300"), and is more particularly described on the attached Exhibit "A-1", and the second space consisting of 1,281 rentable square feet of space located on the second floor of the Building ("Suite 204"), and is more particularly described on the attached Exhibit "A-2", both of which Exhibits are hereby incorporated into this Third Amendment. The parties shall confirm the measurement of the square footage of each of Suite 300 and Suite 204 in accordance with the terms of Article 1.2 of the Lease. Suitx 000 xxx Xxxxx 000 xxx be collectively referred to herein as the "Suites" and individually as a "Suite".
Exercise of Expansion Option. Pursuant to Article 1.3 of the Lease, Tenant does hereby exercise its Expansion Option on 20,349 rentable square feet of space located on the fourth floor and consisting of the entire fourth floor of the Building ("Suite 400"), as more particularly described on the attached Exhibit A which is hereby incorporated into this Second Amendment. The parties shall confirm measurement of the rentable square footage of Suite 400 in accordance with the terms of Article 1.2
Exercise of Expansion Option. (a) Tenant shall have the right (i) to expand the Property to include the Expansion Property and the Expansion Building by tendering written notice (the "Expansion Notice") to Landlord no later than the third (3/rd/) anniversary of the Rent Commencement Date.
Exercise of Expansion Option. Tenant shall exercise the option to lease the Fourth Floor Expansion Space, if at all, by written notice to Landlord given not later than February 28, 2010, and shall exercise the option to lease the Second Floor Expansion Space by written notice to Landlord given by the last of the third month of the Sixth Rent Year.
Exercise of Expansion Option. If Tenant timely shall have requested ---------------------------- the Broker Determination, then in order to exercise its right to add the applicable Expansion Space to the Premises, Tenant, within fifteen (15) days after receipt of the Broker Determination, shall give written notice to Landlord of Tenant's exercise of its right to add the applicable Expansion Space pursuant to this subsection, in which case the Annual Fixed Rent for the Expansion Space shall be the lesser of (i) the Prevailing Market Rent as determined by the Broker Determination or (ii) the
Exercise of Expansion Option. The First Amendment Additional Premises have been added to the Premises in full and complete satisfaction of the rights and options granted to Tenant pursuant to Section 23.4 of the Lease. Without limiting the foregoing, all references in the Lease to the exercise of the option to lease the Ten P.O./3rd Floor Expansion Space shall be deemed to refer to the addition of the First Amendment Additional Premises to the Premises pursuant to this Amendment. Tenant has exercised the expansion option pursuant to the provisions of Section 23.4 of the Lease, and neither Landlord nor Tenant has any further rights, claims, liabilities, duties or obligations, pursuant to Section 23.4 of the Lease. Without limitation, in the first sentence of Section 23.5(g) of the Lease, the figure “50,000” is hereby deleted and replaced with the figure “41,020.”
