Expansion Rights. RIDER No. 3 attached to and made a part of the Lease dated March 21, 2003, between FIRST INDUSTRIAL, L.P., as Landlord, and THE WORNICK COMPANY, as Tenant, for Premises located at 4732, 4744 and 0000 Xxxxx Xxxx, Xxxxxxxxxx, Ohio. During such time as this Lease is in effect and provided that Tenant is not in default under this Lease (and no event has occurred with the passage of time or the giving of notice, or both, would constitute a default under this Lease), Tenant shall have the right to lease the immediately adjacent approximately 12,696-25,392 square feet of the Building, as labeled “Expansion Premises” on attached Exhibit A-2 (referred to in this Rider as the “Adjacent Space”), on the terms set forth in this Rider. If an event has occurred that with the passage of time or the giving of notice, or both, would constitute an uncured default under this Lease and Tenant has exercised its expansion option under the terms of this Rider No. 3, Landlord, in its sole discretion, shall have the right to declare such exercise voidable if such event ripens into an uncured default. Tenant’s rights under this Rider are subordinate to any leases of the Adjacent Space (including any rights of first offer and other expansion rights) and options to renew or extend the lease term or any purchase options or agreements concerning the Building or Property that Landlord has entered into as of the Date of Lease. This limited right to expand space shall operate as follows: (i) if and when Landlord receives a bona fide third-party written offer to lease all or any part of the Adjacent Space on terms and conditions that Landlord has determined it is prepared to accept, Landlord shall, prior to accepting such offer, notify Tenant in writing of such offer, together with a statement of the terms and conditions of such offer; (ii) Tenant shall have five (5) days from receipt of Landlord’s notice in which to deliver to Landlord Tenant’s written, unconditional election and agreement to lease the entire Adjacent Space (x) at a base rental rate equal to the base rental rate set forth in the third-party offer; (y) for a term equal to the longer of the then remaining term under this Lease or the term set forth in the third party offer, and (z) otherwise on all the same terms and conditions of this Lease; (iii) if Tenant duly delivers its written, unconditional election and agreement to lease the Adjacent Space, then effective on the first day of the first calendar month immediately following delivery by Tenant of its agreement to lease: (a) the Adjacent Space will be deemed to be added to and become a part of the Premises for all purposes under this Lease (and the term “Premises” shall be redefined to include the Adjacent Space); (b) Tenant’s Proportionate Share shall increase to reflect the addition of the entire Adjacent Space to the Premises; (c) Base Rent for the Adjacent Space (which shall be in addition to the Base Rent due under this Lease for the then existing Premises) shall be due from Tenant at the rate established by clause (ii)(x) above; and (d) Tenant will not be entitled to any allowance or other incentive or abatement with regard to the Adjacent Space and will accept the Adjacent Space in its as-is condition, without representation or warranty, and without any improvements, installations or other work items to be performed by Landlord except those that would have been available to the third-party who made the bona fide third-party written offer, which the Tenant is matching. Tenant shall promptly upon request of Landlord execute and deliver to Landlord an amendment to this Lease consistent with the foregoing and otherwise containing such provisions as are, in Landlord’s reasonable judgment, necessary to evidence this expansion of Tenant’s occupancy of the Building, with the execution and delivery by Tenant of such Lease amendment constituting a condition precedent to Tenant’s right to occupy the Adjacent Space as contemplated by this Rider (but not as a condition precedent to commencement of the lease term (and Tenant’s resulting Rent payment and other obligations) for the Adjacent Space). RIDER NO. 4 Renewal Option RIDER No. 4 attached to and made a part of the Lease dated March 21, 2003, between FIRST INDUSTRIAL, L.P., as Landlord, and THE WORNICK COMPANY, as Tenant, for Premises located at 4732, 4744 and 0000 Xxxxx Xxxx, Xxxxxxxxxx, Xxxx. Provided that this Lease is in full force and effect and Tenant is not in default of its obligations hereunder (beyond any applicable notice or cure period) at the time the Renewal Option (defined below) is exercised and at the commencement of the Renewal Term (defined below), Landlord hereby grants to Tenant the option to extend the initial Term of this Lease (“Renewal Option”) for one (1) additional period of two (2) years (the “Renewal Term”), upon the same terms and conditions as are contained in this Lease, except as provided below. Landlord shall have no obligation to make any improvements, decorations, repairs, alterations or additions to the Premises as a condition to Tenant’s obligation to pay Rent for the Renewal Term. The Renewal Option granted herein shall be exercised, if at all, by written notice (the “Renewal Notice”) to Landlord given not later than 270 days prior to the Expiration Date. In the event that Tenant fails to deliver the Renewal Notice on a timely basis, Tenant shall have no further right to extend the Term. Base Rent payable for the Premises during the Renewal Term shall be in an amount equal to one hundred five percent (105%) of the amount of the Base Rent payable for the Premises during the period immediately prior to the commencement of the Renewal Term. EXHIBIT A-1 CREEK ROAD BUSINESS CENTER Situate in Section 00, Xxxx 0, Xxxxxx Xxxxx 0, Xxxxxxxx Xxxxxxxx, Xxxx of Blue Ash, Xxxxxxxx County, Ohio and being more particularly described as follows: Beginning at the intersection of the centerlines of Creek Road and Kenwood Road, the centerline of Kenwood Road also being the east line of Section 17; Thence along said centerline of Creek Road, North 81°15’40” West, 1072.48 feet to a point; Thence North 08°44’20” East, 30.00 feet to a point in the northerly right-of-way line of Creek Road and the real point of beginning for this description; Thence from said REAL POINT OF BEGINNING, North 08°44’20” East, 667.28 feet to a point; Thence South 81°15’40” East, 970.64 feet to a point in the westerly right-of-way line of Kenwood Road; Thence along said westerly line of Kenwood Road, South 03°4l’00” West, 653.50 feet to a point; Thence along an arc deflecting to the right, having a radius of 15.00 feet, a distance of 24.89 feet, the chord of said arc bears South 51°12’40” West 22.13 feet to a point in the aforesaid northerly right-of-way of Creek Road; Thence along said northerly line of Creek Road, North 81°15’40” West, 1013.28 feet to the real point of beginning.
Appears in 2 contracts
Samples: Assignment and Assumption of Lease (Wornick CO Right Away Division, L.P.), Assignment and Assumption of Lease (TWC Holding Corp.)
Expansion Rights. RIDER No. 3 attached to and made a part of the Lease dated March 21, 2003, between FIRST INDUSTRIAL, L.P., as Landlord, and THE WORNICK COMPANY, as Tenant, for Premises located at 4732, 4744 and 0000 Xxxxx Xxxx, Xxxxxxxxxx, Ohio. During such time as this Lease is in effect and provided that Tenant is not in default under this Lease (and no event has occurred with the passage of time or the giving of notice, or both, would constitute a default under this Lease), Tenant shall have the right option (the "Expansion Option") to lease expand into all space (the immediately adjacent approximately 12,696-25,392 square feet of "Expansion Premises") that becomes available in the Building, subject to the rights of existing tenants as labeled “Expansion Premises” on attached Exhibit A-2 (referred to in this Rider as of the “Adjacent Space”), on the terms set forth in this Rider. If an event has occurred that with the passage date of time or the giving of notice, or both, would constitute an uncured default under this Lease and Tenant has exercised the rights of any future tenants pursuant to the leases executed by such tenants at the time they occupy space in the Building, (excluding any space in the Building which was "Given Back" to Landlord pursuant to Tenant's exercise of its expansion option under the terms of this Rider No. 3, Landlord, in its sole discretion, shall have the right to declare such exercise voidable if such event ripens into an uncured default. Tenant’s rights under this Rider are subordinate to any leases Section 28.16, above), during the first one hundred twenty (120) months of the Adjacent Space (including any rights of first offer and other expansion rights) and options to renew or extend the lease term or any purchase options or agreements concerning the Building or Property that Lease Term. If Landlord has entered into as learns of the Date unconditional availability of Lease. This limited right to expand space shall operate as follows: (i) if and when Landlord receives a bona fide third-party written offer to lease all or any part of the Adjacent Space on terms and conditions that Landlord has determined it is prepared to acceptExpansion Premises, Landlord shallshall deliver to Tenant written notice of such availability as soon as possible, but no less than three (3) months, nor more than six (6) months, prior to accepting the date on which Landlord anticipates such offerExpansion Premises shall become available, if such Expansion Premises is less than or equal to fifteen thousand (15,000) rentable square feet, or, not less than six (6) months, nor more than twelve (12) months prior to the date on which Landlord anticipates such Expansion Premises shall become available, if such Expansion Premises is greater than fifteen thousand (15,000) rentable square feet. Notwithstanding the foregoing, if any Expansion Premises is Early Termination Space, Landlord shall notify Tenant in writing of such offerExpansion Premises as soon as possible after Landlord becomes aware that such Early Termination Space may be available, together with a statement but in no event earlier than ninety (90) days and no less than thirty (30) days prior to the date such Early Termination Space becoming unconditionally available for lease; provided that in the case of Early Termination Space that is being voluntarily returned to Landlord, Landlord shall be obligated to give such notice when Landlord reasonably determines that such 41 42 space will become available but in no event less that thirty (30) days prior to the date on which such space will become available. The notice from Landlord shall designate the available Expansion Premises, the rentable area thereof, and the projected date on which the Expansion Premises will be delivered to Tenant by Landlord (the "Expansion Premises Commencement Date") but otherwise the terms and conditions of such offer; (ii) for the Expansion Premises, including, without limitation, the Base Rent and Additional Charges, and parking allocation shall be the same as for the Initial Premises. Tenant shall have five ten (510) business days from the date of receipt of Landlord’s such notice in which to deliver written notice to Landlord of its election to exercise the Expansion Option with respect to all of such Expansion Premises. During such ten (10) business day period, Landlord shall provide Tenant with a reasonable opportunity to walk through the proposed space to review its suitability for Tenant’s written. Any such notice by Tenant shall be irrevocable. In no event shall Tenant be entitled to take less than all of such Expansion Premises. If Tenant elects to exercise the Expansion Option, unconditional election and agreement to lease the entire Adjacent Space (x) at a base rental rate equal Expansion Premises shall be delivered in "as-is" condition, subject to the base rental rate set forth obligations of the Landlord under Section 6. The Expansion Premises Commencement Date shall be the date that Landlord tenders possession of the Expansion Premises to Tenant. Tenant shall have sixty (60) days (ninety (90) days in the thirdevent of Early Termination Space) following delivery of the Expansion Premises to Tenant to perform tenant improvements which shall be completed at its sole cost and expense and during such period no Base Rent or Additional Charges hereunder shall be due on the Expansion Premises. In the event there shall be less than thirty-party offer; six (y36) for months remaining in the first one hundred twenty (120) months of the Lease Term on the Expansion Premises Commencement Date, Tenant must exercise its Renewal Option pursuant to Section 28.19 as a term equal condition precedent to the longer effectiveness of Tenant's exercise of the then remaining term Expansion Option. Notwithstanding the foregoing, if an event of default exists under this Lease and all applicable grace periods have expired at the time Tenant exercises the Expansion Option or at the term set forth applicable Expansion Premises Commencement Date, Landlord shall have, in addition to all of Landlord's other rights and remedies under this Lease, the third party offerright to cancel unilaterally Tenant's exercise of such Expansion Option. In addition, if Tenant exercises its rights to Give Back space pursuant to Section 28.16, (a) Landlord shall not be obligated to notify Tenant of any Expansion Premises and Tenant shall have no expansion right with respect to any Expansion Premises until the date twenty-four (24) months after the date on which Tenant last gave Landlord a Give Back Notice under Section 28.16, and (zb) otherwise on all after the same terms and conditions expiration of this Lease; such twenty-four (iii24) if Tenant duly delivers its writtenmonth period, unconditional election and agreement Landlord shall be obligated to lease the Adjacent Space, then effective on the first day of the first calendar month immediately following delivery by notify Tenant of its agreement to lease: (a) the Adjacent Space will be deemed to be added to any Expansion Premises and become a part of the Premises for all purposes under this Lease (and the term “Premises” Tenant shall be redefined to include the Adjacent Space); (b) Tenant’s Proportionate Share shall increase to reflect the addition of the entire Adjacent Space to the Premises; (c) Base Rent for the Adjacent Space (which shall be in addition to the Base Rent due under this Lease for the then existing Premises) shall be due from Tenant at the rate established by clause (ii)(x) above; and (d) Tenant will not be entitled to exercise its expansion right with respect to such Expansion Premises only if such Expansion Premises is equal to or greater than the greater of (i) ten thousand (10,000) rentable square feet more than the space terminated pursuant to such Give Back notice, or (ii) more than one hundred twenty five percent (125%) of the rentable square footage of the space terminated pursuant to such Give Back notice. The rights under this Section 28.18 shall be personal to PeopleSoft, Inc. and its Permitted Assignees. Upon the exercise of any allowance or other incentive or abatement with regard to Expansion Option the Adjacent Space and will accept the Adjacent Space in its as-is condition, without representation or warranty, and without any improvements, installations or other work items to be performed by Landlord except those that would have been available to the third-party who made the bona fide third-party written offer, which the Tenant is matching. Tenant parties shall promptly upon request of Landlord execute and deliver to Landlord an amendment to this Lease consistent with the foregoing and otherwise containing such provisions as are, in Landlord’s reasonable judgment, necessary to evidence this expansion of Tenant’s occupancy the portion of the Building, with the execution and delivery Premises added by Tenant of such Lease amendment constituting a condition precedent to Tenant’s right to occupy the Adjacent Space as contemplated by this Rider (but not as a condition precedent to commencement of the lease term (and Tenant’s resulting Rent payment and other obligations) for the Adjacent Space). RIDER NO. 4 Renewal Option RIDER No. 4 attached to and made a part of the Lease dated March 21, 2003, between FIRST INDUSTRIAL, L.P., as Landlord, and THE WORNICK COMPANY, as Tenant, for Premises located at 4732, 4744 and 0000 Xxxxx Xxxx, Xxxxxxxxxx, Xxxx. Provided that this Lease is in full force and effect and Tenant is not in default of its obligations hereunder (beyond any applicable notice or cure period) at the time the Renewal Option (defined below) is exercised and at the commencement of the Renewal Term (defined below), Landlord hereby grants to Tenant the option to extend the initial Term of this Lease (“Renewal Expansion Option”) for one (1) additional period of two (2) years (the “Renewal Term”), upon the same terms and conditions as are contained in this Lease, except as provided below. Landlord shall have no obligation to make any improvements, decorations, repairs, alterations or additions to the Premises as a condition to Tenant’s obligation to pay Rent for the Renewal Term. The Renewal Option granted herein shall be exercised, if at all, by written notice (the “Renewal Notice”) to Landlord given not later than 270 days prior to the Expiration Date. In the event that Tenant fails to deliver the Renewal Notice on a timely basis, Tenant shall have no further right to extend the Term. Base Rent payable for the Premises during the Renewal Term shall be in an amount equal to one hundred five percent (105%) of the amount of the Base Rent payable for the Premises during the period immediately prior to the commencement of the Renewal Term. EXHIBIT A-1 CREEK ROAD BUSINESS CENTER Situate in Section 00, Xxxx 0, Xxxxxx Xxxxx 0, Xxxxxxxx Xxxxxxxx, Xxxx of Blue Ash, Xxxxxxxx County, Ohio and being more particularly described as follows: Beginning at the intersection of the centerlines of Creek Road and Kenwood Road, the centerline of Kenwood Road also being the east line of Section 17; Thence along said centerline of Creek Road, North 81°15’40” West, 1072.48 feet to a point; Thence North 08°44’20” East, 30.00 feet to a point in the northerly right-of-way line of Creek Road and the real point of beginning for this description; Thence from said REAL POINT OF BEGINNING, North 08°44’20” East, 667.28 feet to a point; Thence South 81°15’40” East, 970.64 feet to a point in the westerly right-of-way line of Kenwood Road; Thence along said westerly line of Kenwood Road, South 03°4l’00” West, 653.50 feet to a point; Thence along an arc deflecting to the right, having a radius of 15.00 feet, a distance of 24.89 feet, the chord of said arc bears South 51°12’40” West 22.13 feet to a point in the aforesaid northerly right-of-way of Creek Road; Thence along said northerly line of Creek Road, North 81°15’40” West, 1013.28 feet to the real point of beginning.
Appears in 1 contract
Samples: Office Lease (Peoplesoft Inc)
Expansion Rights. RIDER No. 3 attached (1) To the extent that Tenant’s sublease with a Qualified Subtenant grants rights in favor of such Qualified Subtenant to and made a part exercise any of Tenant’s Expansion Options under Paragraphs 34(A) through (K) hereof, and/or rights of first offer under Paragraph 34(N) hereof, then the Lease dated March 21Recognition Agreement of such Qualified Subtenant shall provide that the Qualified Subtenant may, 2003, between FIRST INDUSTRIAL, L.P., as Landlord, and THE WORNICK COMPANY, as Tenant, for Premises located at 4732, 4744 and 0000 Xxxxx Xxxx, Xxxxxxxxxx, Ohio. During such time as this Lease is in effect and provided that Tenant is not in default under after the termination or cancellation of this Lease (and no event has occurred with or Tenant’s right to possession hereunder) as aforesaid, only have the passage right to exercise: (x) any one (1) of time or Tenant’s Expansion Options for each 75,000 square feet of Rentable Area leased by such Qualified Subtenant at the giving Building (e.g., a Qualified Subtenant which leases less than 75,000 square feet of noticeRentable Area at the Building shall not have any right to exercise any Expansion Option, or both, would constitute a default under this Lease), Tenant Qualified Subtenant which leases at least 75,000 (but less than 150,000) square feet of Rentable Area at the Building shall have the right to lease the immediately adjacent approximately 12,696-25,392 exercise one (1) Expansion Option, and a Qualified Subtenant which leases at least 150,000 square feet of Rentable Area at the Building, as labeled “Expansion Premises” on attached Exhibit A-2 (referred to in this Rider as the “Adjacent Space”), on the terms set forth in this Rider. If an event has occurred that with the passage of time or the giving of notice, or both, would constitute an uncured default under this Lease and Tenant has exercised its expansion option under the terms of this Rider No. 3, Landlord, in its sole discretion, Building shall have the right to declare exercise two (2) Expansion Options), it being agreed that in the event that such Qualified Subtenant has been granted, pursuant to its sublease, the right to exercise voidable if a greater number of Expansion Options than are exercisable pursuant to the preceding terms of this clause (x), the number of such event ripens into an uncured default. Expansion Options exercisable by such Qualified Subtenant after the termination of this Lease (or Tenant’s rights under right to possession hereunder) as aforesaid shall be reduced to the maximum number of Expansion Options exercisable by such Qualified Subtenant pursuant to the preceding terms of this Rider are subordinate clause (x) (and that, subject to any leases such maximum number, the Qualified Subtenant shall have the right to select which of the Adjacent Space specific Expansion Options so granted to such Qualified Subtenant will continue to be exercisable after such termination of this Lease (including any or Tenant’s right to possession hereunder)), and (y) Tenant’s rights of first offer and other expansion rightsunder Paragraph 34(N) and options hereof only to renew or extend the lease term or any purchase options or agreements concerning extent that (a) such Qualified Subtenant has also been granted the Building or Property that Landlord has entered into as of the Date of Lease. This limited right to expand space shall operate as follows: (i) if and when Landlord receives a bona fide third-party written offer to lease all exercise one or any part more of the Adjacent Space on terms and conditions that Landlord has determined it is prepared to accept, Landlord shall, prior to accepting such offer, notify Tenant in writing of such offer, together with a statement of the terms and conditions of such offer; (ii) Tenant shall have five (5) days from receipt of Landlord’s notice in which to deliver to Landlord Tenant’s written, unconditional election and agreement Expansion Options hereunder which remain in effect pursuant to lease the entire Adjacent Space subclause (x) at a base rental rate equal to the base rental rate set forth in the third-party offer; (y) for a term equal to the longer of the then remaining term under this Lease or the term set forth in the third party offerabove, and (z) otherwise on all the same terms and conditions of this Lease; (iii) if Tenant duly delivers its written, unconditional election and agreement to lease the Adjacent Space, then effective on the first day of the first calendar month immediately following delivery by Tenant of its agreement to lease: (a) the Adjacent Space will be deemed to be added to and become a part of the Premises for all purposes under this Lease (and the term “Premises” shall be redefined to include the Adjacent Space); (b) Tenant’s Proportionate Share shall increase to reflect the addition such right of the entire Adjacent Space first offer applies only to the Premises; (cfloor(s) Base Rent for the Adjacent Space (which shall be in addition to the Base Rent due under this Lease for the then existing Premises) shall be due from Tenant at the rate established by clause (ii)(x) above; and (d) Tenant will not be entitled to any allowance or other incentive or abatement with regard to the Adjacent Space and will accept the Adjacent Space in its as-is condition, without representation or warranty, and without any improvements, installations or other work items to be performed by Landlord except those that would have been available to the third-party who made the bona fide third-party written offer, which the Tenant is matching. Tenant shall promptly upon request of Landlord execute and deliver Expansion Option(s) which remain in effect pursuant to Landlord an amendment to this Lease consistent with the foregoing and otherwise containing such provisions as are, subclause (x) above granted in Landlord’s reasonable judgment, necessary to evidence this expansion of Tenant’s occupancy of the Building, with the execution and delivery by Tenant favor of such Lease amendment constituting a condition precedent to Tenant’s right to occupy the Adjacent Space as contemplated by this Rider (but not as a condition precedent to commencement of the lease term (and Tenant’s resulting Rent payment and other obligations) for the Adjacent Space). RIDER NO. 4 Renewal Option RIDER No. 4 attached to and made a part of the Lease dated March 21, 2003, between FIRST INDUSTRIAL, L.P., as Landlord, and THE WORNICK COMPANY, as Tenant, for Premises located at 4732, 4744 and 0000 Xxxxx Xxxx, Xxxxxxxxxx, Xxxx. Provided that this Lease is in full force and effect and Tenant is not in default of its obligations hereunder (beyond any applicable notice or cure period) at the time the Renewal Option (defined below) is exercised and at the commencement of the Renewal Term (defined below), Landlord hereby grants to Tenant the option to extend the initial Term of this Lease (“Renewal Option”) for one (1) additional period of two (2) years (the “Renewal Term”), upon the same terms and conditions as are contained in this Lease, except as provided below. Landlord shall have no obligation to make any improvements, decorations, repairs, alterations or additions to the Premises as a condition to Tenant’s obligation to pay Rent for the Renewal Term. The Renewal Option granted herein shall be exercised, if at all, by written notice (the “Renewal Notice”) to Landlord given not later than 270 days prior to the Expiration Date. In the event that Tenant fails to deliver the Renewal Notice on a timely basis, Tenant shall have no further right to extend the Term. Base Rent payable for the Premises during the Renewal Term shall be in an amount equal to one hundred five percent (105%) of the amount of the Base Rent payable for the Premises during the period immediately prior to the commencement of the Renewal Term. EXHIBIT A-1 CREEK ROAD BUSINESS CENTER Situate in Section 00, Xxxx 0, Xxxxxx Xxxxx 0, Xxxxxxxx Xxxxxxxx, Xxxx of Blue Ash, Xxxxxxxx County, Ohio and being more particularly described as follows: Beginning at the intersection of the centerlines of Creek Road and Kenwood Road, the centerline of Kenwood Road also being the east line of Section 17; Thence along said centerline of Creek Road, North 81°15’40” West, 1072.48 feet to a point; Thence North 08°44’20” East, 30.00 feet to a point in the northerly right-of-way line of Creek Road and the real point of beginning for this description; Thence from said REAL POINT OF BEGINNING, North 08°44’20” East, 667.28 feet to a point; Thence South 81°15’40” East, 970.64 feet to a point in the westerly right-of-way line of Kenwood Road; Thence along said westerly line of Kenwood Road, South 03°4l’00” West, 653.50 feet to a point; Thence along an arc deflecting to the right, having a radius of 15.00 feet, a distance of 24.89 feet, the chord of said arc bears South 51°12’40” West 22.13 feet to a point in the aforesaid northerly right-of-way of Creek Road; Thence along said northerly line of Creek Road, North 81°15’40” West, 1013.28 feet to the real point of beginningQualified Subtenant applies.
Appears in 1 contract
Samples: Letter Agreement (KBS Real Estate Investment Trust II, Inc.)
Expansion Rights. RIDER No. 3 attached (a) If any tenant under a Lease exercises its option as presently set forth in its lease to lease additional land and/or improvements (the “Expansion Land” and made the portion of each of such Properties excluding the Expansion Land is hereinafter the “Remaining Property”) presently constituting a part portion of any of those Properties designated on Exhibit A hereto as IL1970335 (GATX/IL) (collectively, the “Expansion Properties”) and to have Borrower construct thereon additional improvements (such improvements being hereinafter referred to as the “Expansion Improvements”, and the Expansion Land and the Expansion Improvements being hereinafter referred to as the “Expansion Premises”), Borrower shall have the right, exercised by written notice to Lenders, to have the Expansion Premises considered Substitute Properties and to have Properties designated by Borrower released from the Property Pool as if such Properties were Replaced Properties (subject to the limitations, exceptions and conditions set forth below in this Section 2.15(a) and Section 2.12 above) provided (i) no Event of Default exists as of the Lease dated March 21date of the Substitution, 2003(ii) the Expansion Improvements have been completed as evidenced by a certificate of occupancy reasonably acceptable to Lenders, between FIRST INDUSTRIAL(iii) the Expansion Improvements have been accepted and occupied by the tenant thereof, L.P.(iv) commencement of rent payments by the tenant (after the expiration of any free rent, as Landlordcredit or grace period) has occurred, (v) Lenders have received an estoppel certificate from the tenant thereof in form and THE WORNICK COMPANYsubstance reasonably acceptable to Lenders, as Tenant(vi) title to the Expansion Improvements shall be vested in Borrower, for Premises located at 4732, 4744 (vii) Borrower delivers to Lenders title insurance endorsements or other evidence reasonably acceptable to Lenders that all mechanics and 0000 Xxxxx Xxxx, Xxxxxxxxxx, Ohio. During such time as this Lease is materialmen have been paid in effect and provided that Tenant is not in default under this Lease (and no event has occurred connection with the passage construction and that no mechanics’ liens exist with respect to the Expansion Premises and (viii) Lenders shall have received a Rating Confirmation in respect of time or the giving of notice, or both, would constitute a default under this Lease), Tenant Substitution involving the Expansion Premises. Borrower shall have the right to lease exercise the immediately adjacent approximately 12,696-25,392 square feet of the Building, as labeled “Expansion Premises” on attached Exhibit A-2 (referred to option granted in this Rider as Section with respect to the “Adjacent Space”)Expansion Premises of one or more tenants in a single Substitution; provided, on however, that all Substitutions under this Section shall reduce the number of remaining Substitutions available to Borrower accordingly. The terms and conditions for Substitution set forth in this RiderSection 2.12 hereof shall apply with respect to Substitutions applicable to Expansion Premises. If an event has occurred that with Determination of NOI and FMV, and the passage allocation thereof as between the Expansion Premises and the balance of time or the giving Property of notice, or both, would constitute an uncured default under this Lease and Tenant has exercised its expansion option under which the terms of this Rider No. 3, Landlord, in its sole discretionExpansion Premises are a part, shall have the right to declare such exercise voidable if such event ripens into an uncured default. Tenant’s rights under this Rider are subordinate to any leases of the Adjacent Space (including any rights of first offer and other expansion rights) and options to renew or extend the lease term or any purchase options or agreements concerning the Building or Property that Landlord has entered into as of the Date of Lease. This limited right to expand space shall operate as follows: (i) if and when Landlord receives a bona fide third-party written offer to lease all or any part of the Adjacent Space on terms and conditions that Landlord has determined it is prepared to accept, Landlord shall, prior to accepting such offer, notify Tenant in writing of such offer, together with a statement of the terms and conditions of such offer; (ii) Tenant shall have five (5) days from receipt of Landlord’s notice in which to deliver to Landlord Tenant’s written, unconditional election and agreement to lease the entire Adjacent Space (x) at a base rental rate equal to the base rental rate set forth in the third-party offer; (y) for a term equal to the longer of the then remaining term under this Lease or the term set forth in the third party offer, and (z) otherwise on all the same terms and conditions of this Lease; (iii) if Tenant duly delivers its written, unconditional election and agreement to lease the Adjacent Space, then effective on the first day of the first calendar month immediately following delivery be made by Tenant of its agreement to lease: (a) the Adjacent Space will be deemed to be added to and become a part of the Premises for all purposes under this Lease (and the term “Premises” shall be redefined to include the Adjacent Space); (b) Tenant’s Proportionate Share shall increase to reflect the addition of the entire Adjacent Space to the Premises; (c) Base Rent for the Adjacent Space (which shall be in addition to the Base Rent due under this Lease for the then existing Premises) shall be due from Tenant at the rate established by clause (ii)(x) above; and (d) Tenant will not be entitled to any allowance or other incentive or abatement with regard to the Adjacent Space and will accept the Adjacent Space in its as-is condition, without representation or warranty, and without any improvements, installations or other work items to be performed by Landlord except those that would have been available to the third-party who made the bona fide third-party written offer, which the Tenant is matching. Tenant shall promptly upon request of Landlord execute and deliver to Landlord an amendment to this Lease consistent with the foregoing and otherwise containing such provisions as are, in Landlord’s Lenders exercising reasonable judgment, necessary to evidence this expansion of Tenant’s occupancy of the Building, with the execution and delivery by Tenant of such Lease amendment constituting a condition precedent to Tenant’s right to occupy the Adjacent Space as contemplated by this Rider (but not as a condition precedent to commencement of the lease term (and Tenant’s resulting Rent payment and other obligations) for the Adjacent Space). RIDER NO. 4 Renewal Option RIDER No. 4 attached to and made a part of the Lease dated March 21, 2003, between FIRST INDUSTRIAL, L.P., as Landlord, and THE WORNICK COMPANY, as Tenant, for Premises located at 4732, 4744 and 0000 Xxxxx Xxxx, Xxxxxxxxxx, Xxxx. Provided that this Lease is in full force and effect and Tenant is not in default of its obligations hereunder (beyond any applicable notice or cure period) at the time the Renewal Option (defined below) is exercised and at the commencement of the Renewal Term (defined below), Landlord hereby grants to Tenant the option to extend the initial Term of this Lease (“Renewal Option”) for one (1) additional period of two (2) years (the “Renewal Term”), upon the same terms and conditions as are contained in this Lease, except as provided below. Landlord shall have no obligation to make any improvements, decorations, repairs, alterations or additions to the Premises as a condition to Tenant’s obligation to pay Rent for the Renewal Term. The Renewal Option granted herein shall be exercised, if at all, by written notice (the “Renewal Notice”) to Landlord given not later than 270 days prior to the Expiration Date. In the event that Tenant fails to deliver the Renewal Notice on a timely basis, Tenant shall have no further right to extend the Term. Base Rent payable for the Premises during the Renewal Term shall be in an amount equal to one hundred five percent (105%) of the amount of the Base Rent payable for the Premises during the period immediately prior to the commencement of the Renewal Term. EXHIBIT A-1 CREEK ROAD BUSINESS CENTER Situate in Section 00, Xxxx 0, Xxxxxx Xxxxx 0, Xxxxxxxx Xxxxxxxx, Xxxx of Blue Ash, Xxxxxxxx County, Ohio and being more particularly described as follows: Beginning at the intersection of the centerlines of Creek Road and Kenwood Road, the centerline of Kenwood Road also being the east line of Section 17; Thence along said centerline of Creek Road, North 81°15’40” West, 1072.48 feet to a point; Thence North 08°44’20” East, 30.00 feet to a point in the northerly right-of-way line of Creek Road and the real point of beginning for this description; Thence from said REAL POINT OF BEGINNING, North 08°44’20” East, 667.28 feet to a point; Thence South 81°15’40” East, 970.64 feet to a point in the westerly right-of-way line of Kenwood Road; Thence along said westerly line of Kenwood Road, South 03°4l’00” West, 653.50 feet to a point; Thence along an arc deflecting to the right, having a radius of 15.00 feet, a distance of 24.89 feet, the chord of said arc bears South 51°12’40” West 22.13 feet to a point in the aforesaid northerly right-of-way of Creek Road; Thence along said northerly line of Creek Road, North 81°15’40” West, 1013.28 feet to the real point of beginningdiscretion.
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Expansion Rights. RIDER No. 3 attached to and made a part If Tenant performs all of the Lease dated March 21, 2003, between FIRST INDUSTRIAL, L.P., as Landlord, terms and THE WORNICK COMPANY, as Tenant, for Premises located at 4732, 4744 and 0000 Xxxxx Xxxx, Xxxxxxxxxx, Ohio. During such time as this Lease is in effect and provided that Tenant is not in default under this Lease (and no event has occurred with the passage conditions of time or the giving of notice, or both, would constitute a default under this Lease), Tenant shall have the right to lease the immediately adjacent approximately 12,696-25,392 square feet of the BuildingExpansion Space, as labeled “Expansion Premises” on attached Exhibit A-2 (referred to more particularly described in this Rider as the “Adjacent Space”)ITEM 6(C) OF THE BASIC LEASE PROVISIONS, on or about the terms Delivery Date (defined below) at the Prevailing Market Rate (as defined below). At least six (6) months prior to the Expansion Date, set forth in this Rider. If an event has occurred that with ITEM 6(C) OF THE BASIC LEASE PROVISIONS, Landlord shall notify Tenant (i) the passage date such Expansion Space will be delivered to Tenant, which may be six (6) months before or after the Expansion Date ("DELIVERY DATE"), (ii) the size of time the Expansion Space, which may be plus or minus twenty percent (20%), and (iii) the giving location and configuration of noticethe Expansion Space, or both, would constitute an uncured default under this Lease and Tenant has exercised its expansion option under the terms all of this Rider No. 3, which shall be determined in Landlord, in its 's sole discretion, . Tenant shall be deemed to have the right to declare such exercise voidable if such event ripens into an uncured default. Tenant’s waived its rights under this Rider are subordinate to any leases of the Adjacent Space (including any rights of first offer and other expansion rights) and options to renew or extend the lease term or any purchase options or agreements concerning the Building or Property that ARTICLE 1.03, unless Tenant notifies Landlord has entered into as of the Date of Lease. This limited right to expand space shall operate as follows: (i) if and when Landlord receives a bona fide third-party written offer to lease all or any part of the Adjacent Space on terms and conditions that Landlord has determined it is prepared to accept, Landlord shall, prior to accepting such offer, notify Tenant in writing of Tenant's election to exercise this expansion option and executes Landlord's standard form amendment adding the Expansion Space to the Premises at the Prevailing Market Rate, which notice and amendment shall be executed and delivered to Landlord not more than nine (9) months and not less than six (6) months prior to the Expansion Option Date. Unless the cost thereof is reflected in the Prevailing Market Rate, all Expansion Space shall be delivered and accepted in an "AS-IS" condition, no lease inducements (such offeras rent abatement or refurbishment allowances) shall be provided with respect to the Expansion Space, together with a statement of and the terms and conditions of such offer; (ii) Tenant Landlord's then standard form lease shall have five (5) days from receipt of Landlord’s notice in which to deliver to Landlord Tenant’s written, unconditional election and agreement to lease the entire Adjacent Space (x) at a base rental rate equal apply to the base rental rate set forth in the third-party offer; (y) for Expansion Space. The Expansion Space shall constitute a term equal to the longer of the then remaining term under this Lease or the term set forth in the third party offer, and (z) otherwise on all the same terms and conditions of this Lease; (iii) if Tenant duly delivers its written, unconditional election and agreement to lease the Adjacent Space, then effective on the first day of the first calendar month immediately following delivery by Tenant of its agreement to lease: (a) the Adjacent Space will be deemed to be added to and become a part portion of the Premises for all purposes under this Lease (and the term “Premises” shall be redefined to include the Adjacent Space); (b) Tenant’s Proportionate Share shall increase to reflect the addition of the entire Adjacent Space to the Premises; (c) Base Rent for the Adjacent Expansion Space (which shall be in addition equal to the Base Rent due under this Lease for the then existing Premises) shall be due from Tenant at the rate established by clause (ii)(x) above; and (d) Tenant will not be entitled to any allowance or other incentive or abatement with regard to the Adjacent Space and will accept the Adjacent Space in its as-is condition, without representation or warranty, and without any improvements, installations or other work items to be performed by Landlord except those that would have been available to the third-party who made the bona fide third-party written offer, which the Tenant is matching. Tenant shall promptly upon request of Landlord execute and deliver to Landlord an amendment to this Lease consistent with the foregoing and otherwise containing such provisions Prevailing Market Rate determined as are, in Landlord’s reasonable judgment, necessary to evidence this expansion of Tenant’s occupancy of the Building, with the execution and delivery by Tenant of such Lease amendment constituting a condition precedent to Tenant’s right to occupy the Adjacent Space as contemplated by this Rider (but not as a condition precedent to commencement of the lease term (and Tenant’s resulting Rent payment and other obligations) for the Adjacent Space). RIDER NO. 4 Renewal Option RIDER No. 4 attached to and made a part of the Lease dated March 21, 2003, between FIRST INDUSTRIAL, L.P., as Landlord, and THE WORNICK COMPANY, as Tenant, for Premises located at 4732, 4744 and 0000 Xxxxx Xxxx, Xxxxxxxxxx, Xxxx. Provided that this Lease is in full force and effect and Tenant is not in default of its obligations hereunder (beyond any applicable notice or cure period) at the time the Renewal Option (defined below) is exercised and at the commencement of the Renewal Term (defined below), Landlord hereby grants to Tenant the option to extend the initial Term of this Lease (“Renewal Option”) for one (1) additional period of two (2) years (the “Renewal Term”), upon the same terms and conditions as are contained in this Lease, except as provided below. Landlord shall have no obligation to make any improvements, decorations, repairs, alterations or additions to the Premises as a condition to Tenant’s obligation to pay Rent for the Renewal Term. The Renewal Option granted herein shall be exercised, if at all, by written notice (the “Renewal Notice”) to Landlord given not later than 270 days prior to the Expiration Delivery Date. In the event that Tenant fails to deliver the Renewal Notice on a timely basis, Tenant shall have no further right to extend the Term. Base Rent payable for the Premises during the Renewal Term shall be in an amount equal to one hundred five percent (105%) of the amount of the Base Rent payable for the Premises during the period immediately prior to the commencement of the Renewal Term. EXHIBIT A-1 CREEK ROAD BUSINESS CENTER Situate in Section 00, Xxxx 0, Xxxxxx Xxxxx 0, Xxxxxxxx Xxxxxxxx, Xxxx of Blue Ash, Xxxxxxxx County, Ohio and being more particularly described as follows: Beginning at the intersection of the centerlines of Creek Road and Kenwood Road, the centerline of Kenwood Road also being the east line of Section 17; Thence along said centerline of Creek Road, North 81°15’40” West, 1072.48 feet to a point; Thence North 08°44’20” East, 30.00 feet to a point in the northerly right-of-way line of Creek Road and the real point of beginning for this description; Thence from said REAL POINT OF BEGINNING, North 08°44’20” East, 667.28 feet to a point; Thence South 81°15’40” East, 970.64 feet to a point in the westerly right-of-way line of Kenwood Road; Thence along said westerly line of Kenwood Road, South 03°4l’00” West, 653.50 feet to a point; Thence along an arc deflecting to the right, having a radius of 15.00 feet, a distance of 24.89 feet, the chord of said arc bears South 51°12’40” West 22.13 feet to a point in the aforesaid northerly right-of-way of Creek Road; Thence along said northerly line of Creek Road, North 81°15’40” West, 1013.28 feet to the real point of beginning.
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