Expansion Right. Subject to (a) Tenant not being in default beyond any applicable notice and cure period at the time of exercise nor Tenant being in default beyond any notice and cure period of any monetary obligations under this Lease more than twice during the twenty-four (24) month period preceding the time of exercise; (b) Tenant occupying not less than all of the Premises; (c) the rights of other tenants within the Building pursuant to written leases in effect as of the date of this Second Amendment, and (d) such limitations as are imposed by other tenant leases in effect as of the date of this Second Amendment, if, at any time during the Term (including any Renewal Term), Landlord intends to enter into a lease for Suites E100, E110, E120, E-130 and/or E140 (individually or all together herein referred to as the “Offered Space”) with anyone other than the tenant then occupying such Offered Space, Landlord shall first offer to Tenant the right to include the Offered Space within the Premises. With respect to such offer, Landlord shall notify Tenant in writing with regard to the Offered Space, and in such written notice, Landlord shall provide Tenant with the terms upon which Landlord would lease such Offered Space (if such notice is within the first two (2) years following the Additional Premises Commencement Date, such terms shall be the same terms as set forth in this Lease with the free rent and tenant allowance prorated for the remaining Term), provided that, if there are less than three (3) years remaining on the then current Term at the time of exercise, Tenant shall also extend the Term of the Lease for at least an additional three (3) year Term, whereupon Tenant shall have fifteen (15) days next following Landlord’s delivery of such notice within which to accept such terms, time being of the essence. Should Tenant accept such terms specified by Landlord, the parties shall enter into a new lease, or an amendment to this Lease, to memorialize their agreement. In the absence of any further agreement by the parties, such Offered Space shall be delivered “AS IS”, in a good, neat, orderly and broom clean condition with all personal property and other tenants removed from such Offered Space, and Rent for such Offered Space shall commence on that date which is the earlier of: (x) Tenant’s occupancy thereof, and (y) five (5) days after Landlord delivers such Offered Space to Tenant free of other tenants and occupants. If Tenant shall not accept Landlord’s terms within s...
Expansion Right. So long as there are at least three (3) years remaining on the Term of this Lease (as extended), Tenant shall have an ongoing right of first offer (“Right of First Offer”) to lease adjacent space (“Offer Space” as indicated in Exhibit F herein) to the Premises subject to the following conditions at the time Tenant exercises the Right of First Offer: a) the Lease must be in full force and effect, b) Tenant shall not be in default under the Lease beyond any applicable cure periods; nor shall Tenant be in default under the Lease at the Commencement Date for the Offer Space (defined below) beyond any applicable cure periods, and c) Tenant’s then current financial condition meets the financial criteria reasonably acceptable to Landlord. Subject to the other terms of this Section and notwithstanding any prior election or non-election of Offer Space by Tenant, after any part of the Offer Space has or will “become available” for leasing by the Landlord (defined below), Landlord shall not, during the Term of this Lease or any renewal or extension thereof, lease to another tenant that available portion of the Offer Space (“Available Offer Space”) without first offering Tenant the right to lease such Available Offer Space, such space to be offered at the same Base Rent and Additional Rent as Tenant’s then existing space and in a turnkey finished condition substantially consistent with the Premises at Landlord’s sole cost and expense. Space shall deemed to “become available” when the lease for any current tenant of all or a portion of the Offer Space expires or is otherwise terminated. Notwithstanding this, Offer Space shall not be deemed to “become available” if the space is i) assigned or subleased by the current tenant of the space, or ii) re-let by the current tenant of the space by renewal, extension, or renegotiation. Consistent with this, Landlord shall not lease any such Available Offer Space to another tenant unless and until Landlord has first offered the Available Offer Space to Tenant in writing (the “First Offer Leasing Notice”) and Tenant either rejects such offer or a period of thirty (30) days has elapsed from the date that Tenant has received the First Offer Leasing Notice without Tenant having notified Landlord in writing of its acceptance of such First Offer Leasing Notice and supplied Landlord with current financial statements that satisfy Landlord of Tenant’s current financial condition meets the financial criteria reasonably acceptable to Landlor...
Expansion Right. (a) Tenant shall have a one-time option (the “Expansion Option”) to lease the remainder of the rentable square footage in the Building which shall constitute the remainder of the first (1st) floor, containing an agreed upon 25,600 square feet of Rentable Area (the “Phase II Premises”), and the second (2nd) floor containing an agreed upon 28,801 square feet of Rentable Area (the “Phase III Premises”), upon the terms and conditions contained in this Section 4. The Phase II Premises and the Phase III Premises shall collectively be referred to herein as the “Expansion Premises.”
Expansion Right a. Subject to the provisions of this Section 4, Tenant shall have a one-time right to expand (the “Expansion Right”) into the entire Released D2 Premises upon the following terms and conditions.
Expansion Right. Subject to the terms of this Section 10.4, except during the final eighteen (18) months of the Term of this Lease, Tenant shall have the following rights to lease space in the Expansion Building (the "Expansion Space").
Expansion Right. In consideration for Tenant’s execution and delivery of this Lease, provided no material Event of Default remains outstanding and uncured on the date Tenant exercises its rights under this § 1.3.1
Expansion Right. (a) Subject to the provisions of this Section 5, from and after the date on which the Original Space is re-leased in its entirety (such date, the “ROFO Date”), and provided that as of the date of the ROFO Notice (hereinafter defined) (i) there has been no Event of Default nor an event which, with the passage of time and/or the giving of notice would constitute an Event of Default hereunder, and (ii) Tenant is in occupancy of at least seventy percent (70%) of the Premises, Tenant shall have a one-time right of first offer to lease any other rentable areas of the Building (the “ROFO Space”) if, as and when the same shall become available for lease, upon the terms and conditions specified in the ROFO Notice. Tenant’s right of first offer under this Section 5 is further subject to (i) all presently existing extension rights and/or expansion rights of other existing tenants of the Building, and (ii) the extension rights contained in the lease of the Original Space existing as of the ROFO Date. It is understood and agreed that Base Rent for the ROFO Space shall be the fair market rent for the ROFO Space.
Expansion Right a. Tenant has the right to notify Landlord at any time during the term of the Lease if it desires to lease additional space. Should Landlord have space that meets the Tenant’s requirements, it shall work with Tenant to provide such space subject to the following:
Expansion Right. As of the Expansion Premises Commencement Date, the Available Space will no longer include (a) Suite 110 (8000 VMR Building) as shown in the table in Section 39(a) of the Lease since that area constitutes Expansion Premises #1, and (b) Suite 170 (8000 VMR Building) as shown in the table in Section 39(a) of the Lease since that area constitutes Expansion Premises #2. Accordingly, the table set forth in Section 39(a) of the Lease is hereby deleted and replaced with the table below: Suite Lease Expiration Date† 207 (9000 VMR Building) May 31, 2022 210 (9000 VMR Building) May 31, 2020 230 (9000 VMR Building) January 31, 2021 † The table above identifies the expiration date for the lease agreement with the existing tenant, subject to rights of renewal or extension In favor of the existing tenants.
Expansion Right. Tenant shall have the option to lease additional space within 1 Clock Tower Place or 3 Clock Tower Place consisting of up to approximately 10,000 rentable square feet (the “Second Expansion Premises”) for a lease term of up to three years. The Base Rent for the Second Expansion Premises shall be $13.00 per rentable square foot per year for the initial term of that space.
