Third Expansion Option Clause Samples
Third Expansion Option. Provided no material Default shall have occurred and be continuing (it being understood that a Default in the payment of Rent in excess of an amount equal to one month’s Net Rent and Additional Rent then due and owing hereunder shall in any event be deemed a “material” Default for purposes of the foregoing), this Lease shall be in full force and effect and Tenant’s right of possession shall have not been terminated, and subject to the terms and provisions of this Article 34, Tenant shall have the one-time option (the “Third Expansion Option”) to expand the Premises to include all of the Rentable Area on one (1) floor of the Building. Such one (1) floor shall be:
(i) the 21st floor of the Building, if Tenant shall not have exercised the Pre-Term Expansion Option under Paragraph 34(A) relative to the 23rd floor; or
(ii) the 20th floor of the Building, if Tenant shall have exercised the Pre-Term Expansion Option under Paragraph 34(A) relative to the 23rd floor; (such one (1) floor determined in accordance with the foregoing provisions is referred to herein as the “Third Expansion Premises”) in each case, to the extent that such floor (or any portion thereof) is not, at the time of the exercise of Tenant’s Third Expansion Option, leased by Tenant as First Proposal Space or Accepted Offer Space pursuant to Paragraphs 34(M) or 34(N) (respectively) below. In the event that, at the time of the exercise of Tenant’s Third Expansion Option, all or any portion of the space located on a floor that would have constituted the Third Expansion Premises is being leased by Tenant as First Proposal Space pursuant to Paragraph 34(M) below or Accepted Offer Space pursuant to Paragraph 34(N) below, then: (x) Tenant shall have no right to exercise Tenant’s Third Expansion Option as to the space on such floor so leased by Tenant as First Proposal Space or Accepted Offer Space (as applicable), and (y) Tenant shall have the right to exercise Tenant’s Third Expansion Option as to all (but not less than all) of the space on such floor which is not so leased by Tenant as First Proposal Space or Accepted Offer Space (as applicable), as provided in this Paragraph 34(D). Tenant shall exercise the Third Expansion Option, if at all, by delivering to Landlord written notice of such exercise (the “Third Expansion Notice”) on or before January 1, 2016 (the “Third Expansion Notice Deadline”). If Tenant fails to deliver the Third Expansion Notice by the Third Expansion Notice Deadline, Tenant sh...
Third Expansion Option. The "Third Expansion Option" is an option to include within the Demised Premises that area (the "Third Expansion Space") shown on Exhibit "B-6". The "Third Expansion Option Exercise Deadline" is the last day of August 1977. The "Third Expansion Rentable Floor Area" is hereby conclusively agreed by the parties to be 21,550 square feet. The "Third Expansion Option Rent Commencement Date" shall be the earlier of (i) the date of occupancy of any portion of the Expansion Option Exercise Notice (as defined below) to Landlord; provided, however, if occupancy is delayed solely due to Landlord Delay, the "120 days" immediately above shall be increased by the number of days of delay solely attributable to Landlord Delay. The "Construction Allowance" for the Third Expansion space shall be equal to $4.50 (i) multiplied by the number of whole months remaining in the 120-month Lease Term after the Third Expansion Option Rent Commencement Date, (ii) divided by 120 and (iii) multiplied by the Third Expansion Rentable Floor Area."
Third Expansion Option. The "Third Expansion Option" is an option to include within the Demised Premises that area (the "Third Expansion Space") shown on Exhibit "B-3". The "
Third Expansion Option. The Post-Occupancy Expansion Space Commencement Date for the Third Expansion Space shall be on or after the fifteenth (15th) anniversary of the Low-Rise Commencement Date, but in no event later than one hundred ninety-two (192) months after the Low-Rise Commencement Date. Each of the aforesaid time periods (i.e. 60 months through 78 months, 120 months through 136 months and 180 months through 192 months) is herein referred to as a "Window Period".
Third Expansion Option. Subject to the rights of CoStar Group, Inc., which has the right to lease 7,500 rentable square feet in a location in the Building to be determined by Landlord in its sole but reasonable discretion on or before June 30, 2014 (the “Prior Rights”), and so long as Tenant is not then in an Event of Default hereunder in excess of the Default Threshold, Tenant shall have the option (the “Third Expansion Option”) to lease Option Space 3 (as that term is hereinafter defined) at any time during the Term if Option Space 3 is then available for lease pursuant to and in accordance with the following terms and conditions:
Third Expansion Option. If (i) Tenant shall not have assigned this Lease (other than pursuant to Paragraph 21(C)), (ii) Tenant shall not have subleased more than 25% of the Premises for all or substantially all of the remaining Term (excluding subleases pursuant to Paragraph 21(C)), and (iii) this Lease shall then be in full force and effect, then Tenant shall have the one-time option (the “Third Expansion Option”) to expand the Premises to include the Third Expansion Premises upon the following terms and conditions: