Relocation Space Clause Samples
The Relocation Space clause defines the landlord's right to move a tenant from their current leased premises to another comparable space within the same property or complex. Typically, this clause outlines the conditions under which relocation can occur, such as providing advance notice, ensuring the new space is of similar size and quality, and covering reasonable moving expenses for the tenant. Its core practical function is to give the landlord flexibility to reconfigure or repurpose spaces within the property while minimizing disruption and ensuring fairness to the tenant.
Relocation Space. The Commissioner may at any time during the Term require Tenant to relocate all or portion of the Leased Space to another location within the Airport and terminate the Lease with respect to the Leased Space being vacated when, in the sole discretion of the Commissioner, the relocation is necessary for other Airport purposes or is in the best interest of the City. In such an event:
(i) The Commissioner will notify Tenant in writing within a reasonable period of time prior to the relocation of all or part of the Leased Space. Such notice will be not less than 90 days in advance of the relocation but, in any event, notice is not required more than 180 days in advance.
(ii) If a Retail Space is being relocated and the Relocation Space for a Retail Space is not comparable in size, visibility, and traffic, in Tenant's reasonable business judgment, Tenant may reject the Relocation Space by notifying the Commissioner in writing no later than 15 days after Tenant receives the Commissioner's notice. If Tenant rejects the Relocation Space, then the Lease for the affected Retail Space will terminate on the date for the relocation set forth in the Commissioner's notice, and the Minimum Annual Guarantee as of such date will be adjusted by a percentage equal to the percentage of Tenant’s Gross Revenues from prior Lease Year that were generated at the affected Retail Space. Further, if Tenant rejects the Relocation Space, Tenant is entitled to a credit, equal to the unamortized portion of Tenant’s actual Improvement Costs, as determined under Exhibit 3, and as approved by the Commissioner, for the Retail Space being vacated (but excluding any Improvement Costs for Tenant personal property or any portion of the Improvements that can be moved and used by Tenant elsewhere), against Rent due and owing to the City from Tenant until the full amount of the credit has been applied against Rent.
(iii) Except when Tenant rejects Relocation Space pursuant to (ii) above, the City is responsible for costs incurred in the relocation or replication of the Improvements in the Leased Space being vacated, including the cost of moving Tenant's equipment and inventory and the cost of constructing replacement Improvements comparable to the condition of the Improvements in the Leased Space being vacated as of the date of relocation, to the extent comparable Improvements do not already exist in the Relocation Space. In the case of a relocation, Tenant must promptly vacate the portion of the Lea...
Relocation Space. Effective as of the date upon which there is Substantial Completion of the Relocation Space Tenant Improvements in the Relocation Space (the "Relocation Date"), and subject to the conditions of Paragraph 5 below, the Premises shall be relocated from the Original Premises to that certain space containing approximately 3,189 Rentable Square Feet located in Suite 120 of the Building (the "Relocation Space"), as more particularly described on Exhibit A attached hereto, and, from and after the Relocation Date, all references to the Premises shall mean the Relocation Space. Landlord and Tenant acknowledge and agree that Landlord and Tenant will execute an amendment that serves as confirmation of Relocation Date when the Relocation Date (and the expiration date of the Extension Term) is determined.
Relocation Space. Upon Tenant’s written request, Landlord shall endeavor to provide expansion space within the Center or to relocate Tenant to a larger space within the Center or at another property owned by Landlord or an affiliate of Landlord; provided, that, in each case, Landlord (or Landlord’s affiliate) and Tenant can mutually agree upon acceptable terms for such relocation or expansion space, as applicable. Landlord shall endeavor to provide Tenant with any such relocation options (or the lack thereof) within ten (10) business days after Landlord’s receipt of Tenant’s written request therefor. For purposes of clarity, Landlord’s and Tenant’s inability to mutually agree upon the terms for any relocation or expansion space shall not affect the validity of the Amended Lease in any way and the Amended Lease shall continue in full force and effect.
Relocation Space. At any time during the Term of this Lease and Amendments Lessor can require Lessee to relocate into another space in the ▇▇▇▇▇▇▇▇ Park Industrial Estates. Lessor will give Lessee “Relocation Notice” by identifying the space which shall not be less than twenty percent (20%) smaller than the original space if the space is smaller Lessee will pay a rent equal to the price per square foot multiplied by the square footage of the Relocation Space. In the event the space is larger Lessee will only be required to pay rent set forth in Section 2A. Lessor will be responsible for the cost of the usual and customary cost of relocation.