Extension Premises means that portion of the Premises selected by Tenant and designated in the Extension Election Notice; provided, however, that Tenant only shall have the right to designate as the Extension Premises either:
Extension Premises means, at Tenant’s election as set forth in its extension election notice, either all of the Premises or all of the Premises excluding all or some portion of the Expansion Premises and ROFO Space so long as the Extension Premises consist of entire contiguous floors of the Building. The “Extension Deadline” means: (i) if Tenant and/or a Permitted Transferee is then occupying 3 or more full floors of the Building, the date that is 30 months prior to the expiration of the then-current Term; or (ii) if Tenant and/or a Permitted Transferee is then occupying less than 3 full floors of the Building, the date that is 24 months prior to the expiration of the then-current Term. The terms and conditions of this Lease during each Extension Term shall remain unchanged except Tenant shall only be entitled to the 3 Extension Terms provided above, the annual Fixed Rent for the Extension Term shall be the Extension Rent (as defined below), the Expiration Date shall be the last day of the Extension Term (or such earlier date of termination of this Lease pursuant to the terms hereof), and, except to the extent reflected in the Extension Rent, Landlord shall have no obligation to perform any tenant improvements to the Premises or provide any tenant improvement allowance to Tenant. Upon Tenant’s timely delivery of its written extension election notice, Tenant may not thereafter revoke its exercise of the Extension Option. Notwithstanding anything to the contrary in this Lease, Tenant shall have no right to extend the Term other than or beyond the applicable Extension Terms described in this paragraph.
Extension Premises shall be revised to mean, at a minimum, all of the 26642 Building Premises plus all of the space then leased by Tenant on the second (2nd) and third (3rd) floors of the 26672 Building. Tenant may elect to include other space then leased by Tenant in the Extension Premises only on a suite-by-suite basis and may not include only a portion of any such suite in the Extension Premises.
Examples of Extension Premises in a sentence
Tenant shall have three (3) options (each, an “Option”) to extend the Term of this Lease (and, in each case, the Expiration Premises Term Expiration Date and/or the Extension Premises Term Expiration Date, as applicable), with respect to the applicable portion of the Premises extended by an Option, by five (5) years, in each case on the same terms and conditions as this Lease, except as provided below.
Rent for the Extension Premises is at the same rate per rentable square foot as for the Existing Premises and includes certain additional tenancy improvement allowances reimbursable by the Landlord.
Upon the proper exercise of such option to extend, then the Lease Term, as it applies to the entire Premises or the Extension Premises, as applicable, shall be extended for a period of five (5) years.
Under the terms of the Amendment, the Company can take occupancy of or sublease the Extension Premises immediately, but is not obligated to begin paying rent or related operating expenses for the Extension Premises until April 1, 2015, subject to certain adjustments if the Extension Premises are sublet prior to that date.
Tenant’s Exercise Notice shall expressly specify the portion of the Premises as to which Tenant is exercising its extension option, subject to the limitations set forth in Section 2.2.1. If Tenant’s Exercise Notice fails to so specify the Extension Premises, Tenant shall be deemed to have elected to extend the Lease Term for the entire Premises.
More Definitions of Extension Premises
Extension Premises means, at Tenant’s election, either (i) all of the Premises then leased by Tenant, or (ii) all of the 26642 Building plus any or all of the space then leased by Tenant in the 26672 Building, provided that (A) Tenant must elect to include all or none of the space on the second (2nd) floor of the 26672 Building in the Extension Premises, (B) except as provided in subsection (C) below, Tenant may elect to include space on the first (1st) and/or third (3rd) floor of the 26672 Building in the Extension Premises only on a suite-by-suite basis (based upon suites that were existing at the time such space was delivered to Tenant or, in the case of Suites 100 and 150 of the 26672 Building only, were demised as part of the Improvements) and may not include only a portion of any such suite(s) in the Extension Premises, and (C) if Tenant then leases all of the first (1st) or third (3rd) floor of the 26672 Building and Tenant removes the common area corridor on such floor, then notwithstanding subsection (B), Tenant must include all or none of such floor in the Extension Premises.. Tenant shall designate the Extension Premises in Tenant’s Interest Notice under Section 31 below.
Extension Premises means that portion of the Premises selected by Tenant and designated in the applicable Extension Election Notice; provided, however, that, with respect to each Extension Option, (1) Tenant only shall have the right to designate as the Extension Premises one of the options in clauses (i) through (vi) below, and (2) if Tenant selects less than the entire Premises as the Extension Premises, the portion of the Premises that is not part of the Extension Premises (i.e., the portion surrendered and given back to Landlord, the “Contracted Space”) shall not consist of more than (A) with respect to the First Extension Term, 654,132 rentable square feet, (B) with respect to the Second Extension Term, (x) 280,426 rentable square feet plus (y) the difference, if any, between 654,132 rentable square feet and the actual rentable square footage of the Contracted Space for the First Extension Term, and (C) with respect to the Third Extension Term, (x) the difference, if any, between, 934,876 rentable square feet and the actual aggregate rentable square footage of the Contracted Space for the First Extension Term and the Second Extension Term:
Extension Premises means the portion of the Premises with respect to which Tenant elects to exercise the Option to Extend. For the avoidance of doubt, the Option shall be exercisable only with respect to 75% or more of the entire Premises (i.e., the Original Premises together with all expansion space added by the First Amendment, the Third Amendment and this Amendment, but excluding Suite 750) and only with respect to the entire space that Tenant has on each Floor which Tenant desires to include in the Extension Premises (i.e., Tenant may not elect to include any partial Floor or Floors in the Extension Premises, but may only include full Floors in the Extension Premises). The Option to Extend is not applicable to Suite 750.
Extension Premises shall, for the period of time that each is or becomes and remains a part of this Agreement, mean the Cruise Terminal VIP Area, the Cruise Terminal Waiting Area, the Embarking Passenger Salon, the Disembarking Passenger Salon, the Grand Concourse, the Maritime Event Center, the New Cruise Terminal VIP Area, the New Cruise Terminal Waiting Area, the New Grand Concourse, the Pier 66 Apron, the Pier 66 Baggage Claim Area, the Xxxx 00 Xxxxxx Xxxxx, the Pier 66 Roof Top Deck, the Revised Pier 66 Baggage Claim Area and the Xxxxx Cove Cruise Terminal.
Extension Premises means the following space identified on Exhibit A: floors 4, 5, 6, 7, 8, 9, 10, 11, 12, 14, 15 (Suite 1500, Suite 1550), Suite 1600 on the 16th floor, 20.
Extension Premises means, as selected by Tenant, either (a) the entire Premises demised by the Lease as of the day immediately preceding the Applicable Commencement Date (the “Entire Premises”), or (b) the entire Premises demised by the Lease as of the day immediately preceding the Applicable Commencement Date excluding all (but not less than all) of any Partial Floor(s) (as hereinafter defined) other than any Partial Floor(s) that include any Offer Space then being leased by Tenant (i.e., Tenant may not shed any Partial Floors if such Partial Floor includes any Offer Space then being leased by Tenant), (c) all the Premises located on both of the 5th and 6th floors of the Building (but not less than all of such portion of the Premises) plus any Offer Space then being leased by Tenant (regardless of whether such Offer Space constitutes a Partial Floor) plus, at Tenant’s election, any Partial Floors (other than those comprising any Offer Space then being leased by Tenant) (i.e., Tenant must include in the Extension Premises any Partial Floor that includes any Offer Space then being leased by Tenant but any other Partial Floors that do not included Offer Space shall be included as part of the Extension Premises only if Tenant so elects), or (d) all the Premises located on both of the 11th and 12th floors of the Building (but not less than all of such portions of the Premises) plus, at
Extension Premises means either (i) the entire Premises demised by this Lease as of the day immediately preceding the Applicable Commencement Date or (ii) one (1) or more full floors of the Premises contiguous to the condominium unit owned by Tenant or Tenant’s affiliate (and in the case of this clause “(ii)”, may also include all (but not less than all) of the space then leased by Tenant on any floor of the Building on which Tenant does not then lease such full floor), in either case, as designated by Tenant in an Extension Notice. If Tenant gives an Extension Notice that does not specify the Extension Premises, Tenant will be deemed to have irrevocably elected to designate as the Extension Premises the entire Premises demised by this Lease as of the day immediately preceding the Applicable Commencement Date.