Work by Landlord. Tenant hereby acknowledges and agrees that Landlord shall have the right to renovate the Building and/or expand same and/or alter the Outside Areas during the Lease Term. In the event Landlord elects to renovate and/or expand the Building and/or alter the Outside Areas, Landlord shall have the right to relocate Tenant to reasonably comparable space at the Premises or within a reasonable distance from the Premises (i.e., in another building owned by Landlord, in alternate space rented by Landlord for Tenant, etc.). In such an event, this Lease shall remain in full force and effect, and Tenant shall continue to make its payments due hereunder, but the term "Premises" shall be deemed to mean the new space provided by Landlord until the work is completed. Landlord shall reimburse Tenant for its reasonable costs of relocation. In the event Landlord expands the Building, Tenant shall only be responsible for its proportionate share (based on square footage) of costs and expenses associated with operation and maintenance of the Building and the Outside Areas following completion of such expansion.
Appears in 2 contracts
Sources: Triple Net Lease Agreement, Triple Net Lease Agreement