Option to Expand. On or before expiration of the sixth (6th) month of the term, Tenant shall be required to lease the remainder 3,942 square feet of Rentable Space on the third (3rd) floor, at the same rental rate then being paid for the initial Premises. In addition, Tenant will have the right to expand during the first 6 months by leasing the approximately 15,165 square feet of Rental Space on the fourth (4th) floor (the “4th Floor Space”) as identified on Exhibit “B-1” attached to this Lease and incorporated herein by reference at the same rental rate then being paid in the initial Premises; provided, however, Landlord will continue to keep the 4th Floor Space available for lease to Tenant for one additional period of three (3) months (a total of nine months following the commencement date), but if Tenant elects to lease the 4th Floor Space between the expiration of the sixth (6) month and commencement of the ninth (9th) month following commencement of the Lease, the rental rate shall be increased by twenty-five cents (.25¢) per square foot, and Tenant improvements dollars will decline on a pro rata basis based on the remaining length of the term. If the Tenant does not elect to lease the fourth (4th) floor space during the initial nine (9) months following commencement of the Lease, Tenant shall have the right of first refusal to lease the 4th Floor Space in the event that Landlord receives an offer to lease the space, and any such right of first refusal shall be on the exact terms received and approved by Landlord from a third party offering to lease the 4th Floor Space. Tenant shall have the option to lease at then current market rental rates any additional space which is available in 5,000 rsf increments consisting of the area which is available on the second (2nd) and fifth (5th) floors designated and referred to as the “Expansion Space”, at any time during the lease term (the “Effective Date”) and ending on the expiration of the Lease Term (unless sooner terminated pursuant to the terms of this Lease, and subject to any rights of extension contained in this Lease) by delivering written notice to Landlord, provided that at the time of such notice and on the Effective Date, no event of default, as defined in Paragraph 25 of this Lease, shall have occurred and remain uncured beyond any applicable cure period. Once Tenant shall exercise an expansion option, Tenant may not thereafter revoke such exercise. Tenant’s failure to timely exercise an expansion option for any r...
Option to Expand. Provided Tenant has not received from Landlord written notice of Tenant’s default of the terms of the Lease (unless such default has been cured), during the period of time commencing with the Second Extended Term Commencement Date and expiring on the last day of the twenty fourth (24th) month thereafter, Tenant shall have the right, but not the obligation, to expand the Premises upon and subject to the following terms and conditions (the “Expansion Option”). The Available Space (herein so called) is the square footage depicted on Exhibit “B” attached hereto and made a part hereof The Expansion Option can be exercised by Tenant delivering to Landlord one hundred fifty (150) days prior written notice (the “Expansion Space Election Notice”) of such exercise. The Expansion Space Election Notice must include the square footage (the “Expansion Space”) of the Available Space Tenant is electing to expand in to, which square footage must either be (i) all of the Available Space or (ii) the approximately 6,000 square feet of Available Space immediately adjacent to the Premises. If Tenant exercises the Expansion Option on a timely basis, then Landlord shall have a period of sixty (60) days from its receipt of the Expansion Space Election Notice to notify Tenant, in writing (the “Landlord’s Notice”), as to whether. Landlord will accommodate Tenant’s expansion request or not. Landlord’s failure to notify Tenant in writing within such sixty (60) day period as to whether Landlord will accommodate Tenant’s expansion request shall be deemed Landlord’s notice, as of the last day of the sixty (60) day period, that Landlord will not accommodate Tenant’s expansion request. If Landlord notifies Tenant within such sixty (60) day period that Landlord will accommodate Tenant’s expansion request, then Tenant shall lease the Expansion Space, commencing with the Expansion Space Commencement Date (as hereinafter defined), upon the terms and conditions of the Lease (except as otherwise expressly set forth herein). Within five (5) days of Landlord notifying Tenant that Landlord will accommodate Tenant’s expansion request, Landlord and Tenant shall execute an amendment to the Lease adjusting those provisions of the Lease which are affected by a change in square footage of the Premises, effective as of the Expansion Space Commencement Date. Tenant shall commence paying Base Rent and Tenant’s Proportionate Share of Taxes and Expenses (as well as service and utility charges and all other ad...
Option to Expand. Upon providing written notice to the Landlord no later than May 31, 2011, the Tenant shall have the option to lease the entire 3rd floor of the building on the same terms and conditions as the Leased Premises, subject to para 13. The third (3rd) floor of the Building shall be leased to the Tenant on an “as-is, where-is” basis and the Landlord will not be required to complete the Landlord’s Work attached hereto as Schedule “B”.”
Option to Expand. Landlord hereby grants Tenant the option to expand the Premises by including an additional square feet of contiguous Rentable Area as outlined in blue on Exhibit D ("Option Space") to the Premises to be effective no later than of the Lease Term; provided, however, that Tenant exercises the option to expand by written notice delivered by Tenant to Landlord no later than of the Lease Term. Upon Tenant's exercise of the option and occupancy of the Option Space, the Option Space or part of it shall be included within the Premises and leased to Tenant pursuant to the provisions of this Lease, including, without limitation, the provisions relating to the rights and obligations of the parties with respect to alterations. Rent for the Option Space shall be the Rent in effect under this Lease at the commencement of Tenant's occupancy of the Option Space. The rent payable under this Lease shall be increased by the amount of rent attributable to the Option Space or part of it that is leased by Tenant. The parties shall immediately execute an amendment to this Lease stating the addition of the Option Space or part of it to the Premises. Upon receipt of Tenant's notice to exercise the option, Landlord shall design and construct such space in accordance with the terms set forth in Exhibit E. Tenant shall be entitled to a tenant improvement allowance of per square foot of Rentable Area for the Option Space.
Option to Expand. Party A hereby grants to Party B the exclusive right to construct and operate independent mining operations and floatation circuits ("Expansion") using Party A's existing plant or other site, as may be required from time to time, to secure or increase production of raw materials to be supplied to the JVC. Such Expansion may take the form of joint venture between Party A and Party B or an operation wholly owned and operated by Party B. Where such Expansion takes the form of a joint venture, the terms and conditions of this Contract shall apply where applicable.
Option to Expand. Lessee may request Lessor to expand the demised Premises into additional spaces/buildings/land. Lessor may, at its sole discretion, agree to allow Lessee to expand into such additional spaces/buildings/land. If Lessor agrees to allow Lessee to expand, Lessor shall provide to Lessee, in writing, a description of the proposed additional spaces/buildings/land and the rental rates and other fees to be paid by Lessee for such additional spaces/buildings/land. If Lessee accepts the description and the rates/fees, the demised Premises under this Lease shall be expanded to include such additional spaces/buildings/land as agreed. The terms and conditions of this Lease shall also apply to the additional spaces/buildings/land.
Option to Expand. Tenant shall have the right, to be exercised as hereinafter provided, to expand the Premises ("Expansion Option") into space to be constructed on the Land adjacent to the Premises, which land is more particularly described on Exhibit "A-1" attached hereto and incorporated herein ("Expansion Land") together with certain improvements to be constructed thereon, including an approximately ninety-five thousand (95,000) square foot addition to the Building, depicted as the Expansion Space on Exhibit "A-2" ("Expansion Space"), upon the following terms and conditions and subject to the limitations set forth below.
Option to Expand. See addendum.
Option to Expand. (a) Subject to Tenant's payment of the Expansion Space Holding Cost as provided for hereinbelow, Landlord hereby grants to Tenant an option (the "Expansion Option") to lease the expansion area containing approximately 3,036 rentable square feet (which includes the adjustment provided for in Paragraph 2.1 of the Lease) as shown on Exhibit A to the Lease (the "Expansion Space"). The expansion Option shall be exercised, if at all, by notice from Tenant to Landlord in writing within six (6) months of the commencement date of the term of the Lease; provided, however, that if Tenant is in default under any of the material terms, conditions or covenants of the Lease, either at the time Tenant exercises, the Expansion Option or when Landlord delivers the Expansion Space, Landlord shall have, in addition to the rights and remedies provided in the Lease, the right to terminate the Expansion Option.
Option to Expand. Provided no event of default exists and is continuing at the time of giving notice of Lessee's exercise of its option, Lessor grants to Lessee, on July 3, 2000, an option to expand the leased Premises to include the 2,533 square foot portion of Building 56 presently occupied by Lessor's calibration laboratory as identified on Exhibit "C". Lessee shall give Lessor ninety (90) days written notice of its intent to exercise this option. The cost of reconfiguring said portion of Building 56 to suit Lessee's needs shall be at Lessee's sole expense. If Lessee does not exercise this option on July 3, 2000, the next time it may be exercised is on July 3, 2001 and every subsequent anniversary thereof, if not already exercised, until the termination date of this Lease as specified in Section 2 herein. Upon the exercise of this option, the monthly base rent shall be increased to reflect the total rentable square footage of Building 56 to be occupied by Lessee, which is 7,708 square feet (95%). The 400 square-foot Communications Equipment Room shown on Exhibit "C" is excluded from this Option, as set forth in Section 15 herein. Lessor's employees, agents, and contractors shall be allowed unrestricted access to and use of the hallway running east-west through Building 56 for purposes of traversing the Complex.
