Lease of Expansion Space. Subject to the terms and conditions set forth below, Landlord hereby agrees to lease to Tenant and Tenant hereby agrees to lease from Landlord the Expansion Space. The Expansion Space is currently occupied by Bendix Commercial Vehicle Systems LLC (the "Existing Tenant") and the Existing Tenant's lease is scheduled to expire on March 31, 2017. The date that Existing Tenant delivers possession of the Expansion Space to Landlord is hereinafter referred to as the »Existing Tenant Delivery Date". On the later to occur of one (1) business day after the Existing Tenant Delivery Date and March 31, 2017, Landlord shall offer Tenant possession of the Expansion Space (the "Landlord Delivery Date"). Tenant shall accept possession of the Expansion Space from Landlord on the Landlord Delivery Date in its "as is" condition. As of the Landlord Delivery Date, the total rentable area of the Premises (the Existing Premises and the Expansion Space) shall be 47,037 square feet. From and after the Landlord Delivery Date, all references in the Lease to the "Premises" shall include the Expansion Space. For purposes of this Third Amendment, the "Rent Commencement Date" shall mean the date that is ninety (90) days after the Landlord Delivery Date. When the Landlord Delivery Date and Rent Commencement Date are established by Landlord, Tenant shall, within five (5) business days after Landlord's request, complete and execute the memorandum attached hereto as Exhibit Band deliver It to Landlord. Tenant's failure to execute the memorandum attached hereto as Exhibit B within said five (5) business day period shall constitute Tenant's acknowledgment of the truth of the facts contained in the memorandum delivered by Landlord to Tenant. 2.
Lease of Expansion Space. Effective on the Expansion Space Commencement Date, the Premises shall be expanded to include the Expansion Space. Accordingly, effective on the Expansion Space Commencement Date, Landlord leases the Expansion Space to Tenant and Tenant leases the Expansion Space from Landlord, and the following terms of the Original Lease are amended as follows:
Lease of Expansion Space. Pursuant to the Expansion Agreement, Tenant leased from Landlord the Expansion Space (as such term is defined in the Expansion Agreement). The term of the Expansion Space is currently scheduled to expire on that date which is ten (10) business days following the 16th Floor Expansion Premises Effective Date (as defined in the Third Amendment). Landlord and Tenant hereby agree to amend the term of the Expansion Space such that the term of the Expansion Space will expire on that date (the "Amended Expansion Space Expiration Date") which is ten (10) business days following the 15th Floor Expansion Premises Effective Date. Tenant's lease of the Expansion Space shall be on and subject to all the terms and conditions of the Expansion Agreement, as amended herein. On or prior to the Amended Expansion Space Expiration Date, Tenant shall surrender the Expansion Space and deliver possession of the same to Landlord in a vacant and broom clean condition, free of all of Tenant's personal property, and otherwise in the condition required pursuant to the terms of the Lease. Any failure by Tenant to timely surrender possession of the Expansion Space in the condition required hereunder shall be a material breach of the Lease and, in addition, shall be subject to the provisions of Section 31 of the Office Lease.
Lease of Expansion Space. Landlord hereby leases the Expansion Space to Tenant and Tenant hereby leases the Expansion Space from Landlord for a term beginning on the Expansion Space Commencement Date (hereinafter defined) and continuing through the Expiration Date and any extension thereof; thus, the Lease term for the Expansion Space will be coterminous with the Lease term for the Current Premises.
Lease of Expansion Space. (a) Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, the Expansion Space for a term (the "ES Term") commencing on the date on which the Expansion Space is delivered to Tenant in the condition required by Section 2(b) below (the "ES Commencement Date") and ending on the last day of the Term (as it may be extended pursuant to the terms of the Lease), subject to all of the terms and conditions of the Lease (including without limitation the payment of utility charges) except as expressly set forth in this Third Amendment. From and after the ES Commencement Date, (i) the "Premises" shall be deemed to mean, for all purposes of the Lease (as amended hereby), collectively the Original Premises and the Expansion Space (comprising a total of 130,258 rentable square feet in the aggregate), and (ii) Exhibit 2A to the Lease shall be deemed to include Exhibit A to this Third Amendment.
Lease of Expansion Space. Lessor hereby leases to Lessee, and Lessee leases from Lessor, commencing on the later of July 1, 2006 or upon substantial completion of the tenant improvements to Suite B and Suite C (the “Commencement Date for Expansion Space”; and for the duration of the initial term of the Lease, at the rental rate and upon the terms and conditions set forth herein, a total of approximately 6,107 rentable square feet (the “Expansion Space”). All “Punch List” items (as defined in section 8(d)), shall be completed within 30 days of substantial completion of the Tenant Improvement Work Project; otherwise, the amounts and date schedules shown for Lessee’s share of Operating Expenses in section 4(a) and Monthly Base Rent shown in section 5 below shall be prorated and reduced to reflect, a “Commencement Date of Expansion Space”, corresponding to the actual date the Punch List was completed. A delay in completion of the Punch List beyond the 30 days, the Commencement Date for the Expansion Space will also be delayed accordingly. Lessor shall deliver the Expansion Space to Lessee in the condition set forth in Section 2(c)(2) of the Lease.
Lease of Expansion Space. If Tenant timely exercises the ROFO Right as set forth herein, Landlord and Tenant shall execute an amendment to this Lease adding such Expansion Space to this Lease upon the Expansion Terms set forth in Landlord’s Expansion Notice and upon the same non-economic terms and conditions as applicable to the original Premises. Tenant shall commence payment of rent for the Expansion Space and the lease term of the Expansion Space shall commence upon the date of delivery of such space to Tenant. The lease term for the Expansion Space shall, unless otherwise provided in the Expansion Notice as part of the Expansion Terms, expire coterminously with Tenant’s lease of the original Premises, but in no event shall Tenant lease the Expansion Space for a period of less than thirty-six (36) months, unless otherwise agreed by Landlord.
Lease of Expansion Space. Landlord hereby leases to Tenant, and Tenant ------------------------ hereby hires from Landlord, upon the terms and conditions set forth in this Amendment, that certain space in the Building located on the fifteenth (15th) floor and commonly known as suite 1550 which contains approximately three thousand eight hundred sixty-nine (3,869) square feet of Rentable Area (the "Expansion Space") as depicted on Exhibit "A" attached hereto and made a part hereof. The term of the Lease with respect to the Expansion Space shall commence as of the date of this Amendment (the "Expansion Space Commencement Date") and shall terminate as set forth in Paragraph 1 above. All terms and conditions of the Lease shall apply to the Expansion Space as modified by this Amendment. The Premises and Expansion Space are sometimes hereinafter referred to as the Premises.
Lease of Expansion Space. If Tenant timely delivers the Expansion Exercise Notice, then Landlord and Tenant shall execute an amendment to this Lease adding the Expansion Space to this Lease upon the same terms and conditions applicable to the initial Premises, except that (i) improvements in the Expansion Space shall be constructed pursuant to Exhibit C of this Lease (excluding Landlord’s Work) as if all references therein to the Premises were references to the Expansion Space, (ii) the initial Lease Term with respect to the entire Premises (i.e. the initial Premises’ as expanded by the Expansion Space) shall be extended such that the Lease shall terminate on the last day of the ninety-first (91st) month after the date that Substantial Completion of the Expansion Space occurs (and Tenant’s lease of the initial Premises shall expire on the last day of the extended initial Lease Term), (iii) Tenant’s Share of Project and Building Direct Expenses shall be increased to reflect the square footage of the Expansion Space and (iv) Landlord may require Tenant to deposit with Landlord an additional Cash Security Deposit and/or replacement Letter of Credit with an increased Stated Amount over the then applicable Stated Amount; provided, however, that that the amount of the additional cash Security Deposit and/or the increased Stated Amount of the replacement Letter of Credit held by Landlord shall at all times bear the same proportion to current Base Rent as the original cash Security Deposit and/or Stated Amount then bears to the original Base Rent.
Lease of Expansion Space. Landlord presently leases to Tenant (a) 9,331 square feet located on the sixteenth (16th) floor of the building, and (b) 2,225 square feet located on the twenty-fifth (25th) floor of the building. Landlord hereby leases to Tenant, and Tenant hereby leases from Landlord, an additional agreed total rentable area of five thousand nine hundred fifty-two (5,952) square feet on the sixteenth (16th) floor of the building (the "Expansion Space"), to the end and effect that Tenant lease from Landlord the entire sixteenth (16th) floor of the building. The Expansion Space is shown on Exhibit A attached hereto as a part hereof. Accordingly, effective as of the Expansion Space Commencement Date (as defined below), the first paragraph of the Lease captioned "Premises" is amended by deleting that paragraph in its entirety and replacing it with the following new paragraph: That Landlord hereby leases to Tenant, and Tenant hereby hires and takes from Landlord the following described premises (hereinafter collectively called the "premises") outlined on Exhibit A hereto, in the office and retail tower (hereinafter called the "building") known as 000 Xxxx Xxxxx Xxxxxx, Baltimore, Maryland 21202, containing an aggregate agreed total rentable area of 17,508 square feet, which is located in the building as follows: (a) 15,283 square feet is located on the sixteenth (16th) floor of the building, and (b) 2,225 square feet is located on the twenty-fifth (25th) floor of the building. The building and the adjoining garage are retail space therein and the land on which the improvements are located are sometimes hereinafter called the "project."
