Common use of Third Expansion Option Clause in Contracts

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."