Expansion Space definition
Expansion Space means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all...
Expansion Space shall have the meaning assigned to such term in Section 10.4.
Expansion Space means the balance of the Building which is not occupied by a tenant or which is occupied by a then-existing tenant whose lease is expiring within 36 months or less and such tenant does not wish to renew (whether or not such tenant has a right to renew) its occupancy of such space. If all or a portion of the Expansion Space becomes available, Landlord shall, at such time as Landlord shall elect so long as Tenant’s rights hereunder are preserved, deliver to Tenant written notice (the “Expansion Notice”) of the availability of such Expansion Space, together with the terms and conditions on which Landlord is prepared to lease Tenant such Expansion Space. For the avoidance of doubt, Tenant shall be required to exercise its right under this Section 39(a) with respect to all of the space described in the Expansion Notice (“Identified Space”). T▇▇▇▇▇ acknowledges and agrees that the term of this Lease with respect to the Identified Space may not be co-terminous with the Term of this Lease with respect to the then-existing Premises. Tenant shall have 10 business days following receipt of the Expansion Notice to deliver to Landlord written notification of T▇▇▇▇▇’s exercise of the Expansion Right (“Exercise Notice”) with respect to the Identified Space. If Tenant does not deliver an Exercise Notice to Landlord within such 10 business day period, then Tenant shall be deemed to have waived its rights under this Section 39(a) to lease the Identified Space, and Landlord shall have the right to lease the Identified Space to any third party on any terms and conditions acceptable to Landlord. Notwithstanding anything to the contrary contained herein, Tenant shall have no right to exercise the Expansion Right and the provisions of this Section 39(a) shall no longer apply after the date that is 12 months prior to the expiration of the Base Term if Tenant has not exercised its Extension Right pursuant to Section 40.
Examples of Expansion Space in a sentence
If Tenant timely exercises an Expansion Option as set forth herein, Landlord and Tenant shall as soon as reasonably practicable thereafter execute a lease amendment (the “Expansion Amendment”) for such Expansion Space upon the terms and conditions as set forth in the Expansion Delivery Notice and this Section 2.10; provided, however, an otherwise valid exercise of an Expansion Option shall be fully effective whether or not a lease amendment is executed.
As used herein, “Additional Space” shall mean any particular Expansion Space or Offer Space, as applicable.
Subject to any Concessions granted to Tenant in accordance with Section 2.8(b) above for any applicable Expansion Space, Tenant shall accept such Expansion Space in its “as is” condition, and the construction of improvements in such Expansion Space shall comply with the terms of Article 5 of this Lease.
If Tenant exercises a particular Expansion Right, then Landlord shall use commercially reasonable, good faith efforts to deliver the applicable Expansion Space to Tenant during the applicable Delivery Period.
If Tenant fails to timely deliver the Expansion Arbitration Notice, then the Rent for the applicable Expansion Space for the applicable Expansion Term shall be as set forth in the Expansion Rent Notice.
More Definitions of Expansion Space
Expansion Space means a portion of the Building, containing approximately 6,481 rentable square feet of area, and more particularly shown on Exhibit “B-1” attached hereto.
Expansion Space means all other space now leased or held for lease in the Building, Notwithstanding anything to the contrary herein or elsewhere in this Lease, all of Tenant’s rights to lease and Landlord’s obligations to Tenant in connection with the Expansion Space pursuant to this Addendum are subject and subordinate to: any rights in that space that already have been granted to existing tenants in the Project who currently lease or have otherwise been granted rights in connection with the Expansion Space (including, without limitation, rights of first offer, expansion rights and other rights), and tenants who lease all or any portion of the Expansion Space after Tenant fails to validly exercise its right to lease that Expansion Space hereunder, or their respective sublessees, successors or assigns (singularly or collectively, the “Other Tenants”), Landlord will have the right to permit the exercise of any or all of the rights in the Expansion Space that have been granted to the Other Tenants, and/or to renew, extend or modify any lease(s) with the Other Tenants and/or all other leases validly entered into, in each case without being subject to Tenant’s rights in this Addendum and without incurring any Liabilities to Tenant hereunder or otherwise All rights of the Other Tenants may be exercised by or for their benefit or the benefit of their sublessees, successors and assigns,
Expansion Space means a portion of the 3200 Bridge Building, containing approximately 24,990 rentable square feet of area, and more particularly shown on Exhibit “B-2” attached hereto.
Expansion Space. Expansion Space shall have the meaning set forth in Section 34.1.
Expansion Space as defined in Section 36.1.
Expansion Space means rentable space, if any, in other buildings in the Project which Landlord may, but shall have no obligation to, construct from time to time.
Expansion Space. The area indicated on Exhibit A-1 hereto on the seventeenth (17th) and eighteenth (18th) floors of the Building, deemed to consist of 36,878 square feet of Rentable Area, which includes the space originally designated as the Reduction Space.