Lease Expansion Sample Clauses
A Lease Expansion clause allows a tenant to increase the amount of leased space within a property during the lease term. Typically, this clause outlines the conditions under which the tenant can exercise the right to expand, such as specifying the additional space available, the process for notifying the landlord, and how rent for the expanded area will be calculated. Its core practical function is to provide tenants with flexibility to accommodate business growth while giving landlords a clear framework for handling such requests.
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Lease Expansion. In the event Tenant requests an expansion of the Premises (“Expansion”) and requests that the Landlord and Tenant negotiate the Lease and construction of the Expansion, Buyer shall provide Seller notice of such request as soon as reasonably practicable. Seller shall have the right to submit a proposal to provide assistance in the negotiation of the Lease amendment and construction of the Expansion, including the development services. In the event Seller elects to submit a proposal for such services, the parties will, in good faith, negotiate a development management agreement. In the event that the parties fail to negotiate such an agreement within a reasonably short period of time, neither party shall have any further obligation to the other. In the event the parties enter into such an agreement, Seller shall be entitled to a market rate development fee. The terms, provisions and
Lease Expansion. Commencing on or about August 1, 1999 and continuing for a period of fifty-three (53) months to December 31, 2003, Lessee shall lease from Lessor 4,043 rentable square feet (3,294 usf) of additional space on the fourth floor (the "Expansion Space"), locally known as Suites II-420 and II-430, as shown on the attached Exhibit A. Lessee's total leased square footage shall, therefore, adjust to 21,370 rentable square feet (17,417 usf).
Lease Expansion. Effective June 1, 2006, Tenant will lease Suite 111 consisting of 1,699 square feet with a monthly rental of $1,799.52 per month. Rent for the month of June will be prorated from date of occupancy. Landlord will bear all costs associated with installation of demising wall and one wall removal.
Lease Expansion. Effective July 1, 2005, Tenant expanded in size the Leased Premises by 2,461 rentable square feet for space located in Suite 201. The Lease Premises will consist of 8,473 rentable square feet.
Lease Expansion. In the event Tenant requests an expansion of the Premises (“Expansion”) and requests that the Landlord and Tenant negotiate the Lease and construction of the Expansion, Buyer shall provide Seller notice of such request as soon as reasonably practicable. Seller shall have the right to submit a proposal to provide assistance in the negotiation of the Lease amendment and construction of the Expansion, including the development services. In the event Seller elects to submit a proposal for such services, the parties will, in good faith, negotiate a development management agreement. In the event that the parties fail to negotiate such an agreement within a reasonably short period of time, neither party shall have any further obligation to the other. In the event the parties enter into such an agreement, Seller shall be entitled to a market rate development fee. The terms, provisions and conditions of this section shall survive Closing hereunder provided Seller continues to provide Buyer with notice of any change of address from that set forth in Section 1l(i) and provided further that if Buyer or Approved Assignee or any successor sells the Property, the purchaser agrees to accept such condition.
Lease Expansion. Effective November 1, 1997 and continuing through the remainder of the lease term (05/31/02), Lessee shall lease from Lessor additional space known as Suite II-350 consisting of 2,879 rentable square feet (2,346 usf) as shown on the attached EXHIBIT A. Lessee's total leased square footage shall, therefore, be 11,618 rentable square feet (9,467 usf)
Lease Expansion. Lessee shall expand their Premises and lease from Lessor, an additional 456 rentable square feet for the remaining balance of the lease term. The total square footage shall now be 21,000 rentable square feet
Lease Expansion. Effective February 1, 2006, Tenant will lease Suite 245 consisting of 1,645 square feet with an annual rental rate as shown below.