Common use of FIRST REDUCTION OPTION Clause in Contracts

FIRST REDUCTION OPTION. By up to one hundred thousand (100,000) square feet of Rentable Area by notice given to Landlord at any time during the Term on or after the sixth (6th) and prior to the tenth (10th) anniversary of the Commencement Date (the “First Reduction Option”);

Appears in 1 contract

Sources: Lease Agreement (Wells Real Estate Investment Trust Inc)

FIRST REDUCTION OPTION. By up to one hundred thousand (100,000) square feet of Rentable Area by notice given to Landlord at any time during the Term on or after the sixth (6th) and prior to the tenth (10th) anniversary of the Commencement Date (the "First Reduction Option");

Appears in 1 contract

Sources: Office Lease (Piper Jaffray Companies)