Option Space definition

Option Space means a portion of the Facilities not to exceed twelve percent (12%) of the “Net Rentable Square Footage” (as determined under standards established by the Building Owner Managers Association) of the Facilities to be conveyed to the State upon exercise of an option under Article 11 hereof.

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Option Space means any of the First Option Space, the Second Option Space or the Third Option Space.

Option Space shall have the meaning set forth in Section 44.1.

Examples of Option Space in a sentence

• Similarly, the Option Space shall not be considered available if the then current tenant of that space wishes to remain there via exercise of a renewal right or by negotiation with Landlord.

• Lessee may not lease less than all of the Addendum No. 5 Option Space designated by Lessor.

• Subject to the foregoing, Lessee may exercise the Addendum No. 5 Option Space Expansion Option by giving written notice to Lessor no later than October 31, 2018 (“Lessee’s Addendum No. 5 Option Space Option Notice”).

• Lessor shall deliver the Addendum No. 5 Option Space separately demised from the remainder of the seventh (7th) floor with a demising wall constructed, but Lessor shall have no obligation to perform any further work with respect to the Addendum No. 5 Option Space or the delivery thereof.

• The configuration of the Addendum No. 5 Option Space shall satisfy all applicable laws, have reasonable access to common areas and common facilities located on the 7th floor of the Building and be usable for general office purposes.

More Definitions of Option Space

Option Space means, collectively, the 9th Floor Option Space and the 8th Floor Option Space.

Option Space and “Option Spaces” is defined in Section 35.01.

Option Space means all or part of Southpark Corporate Center 4 ("Building 4"), as shown on Exhibit A hereto.

Option Space means (x) the leasable space that is located on the sixth (6th) floor of the Building, as shown on Exhibit "18.1-I" attached hereto and made a part hereof, (y) the leasable space that is located on the seventh (7th) floor of the Building, as shown on Exhibit "18.1-II" attached hereto and made a part hereof and (z) the leasable space that is located on the eleventh (11th) floor of the Building, as shown on Exhibit "18.1-III" attached hereto and made a part hereof.

Option Space means approximately 193,396 rentable sf to be constructed by Landlord as detailed herein adjacent to the Premises as depicted on Exhibit A.

Option Space. (as defined in Section 18.1(B) of the Lease) is modified and amended to include the 21st Floor Option Space and the terms of Article 18 shall be applicable with respect to the 21st Floor Option Space, except that (i) clause (y) of Section 18.4(B) of the Lease shall not be applicable with respect to the 21st Floor Option Space to the effect that the Option shall not be subject to the first transaction that Landlord consummates from and after the date hereof and (ii) the reference to the “date hereof” in Section 18.4(E) of the Lease shall mean the date of this Amendment.

Option Space outlined on Exhibit "E"). Tenant acknowledges that the Option Space is available to the open market for lease as of the date of this lease commencement. Prior to entering into a lease with a third party for the Option Space, Landlord agrees to offer to lease the Option Space to Tenant upon the same terms and conditions and at the same rental rate as offered to the third party. If within five (5) business days after Landlord delivers Tenant such written offer. Landlord does not receive notice in writing that Tenant elects to lease all (and not part) of the Option Space and within ten (10) days thereafter Tenant does not execute a lease on the Option Space, the Tenant's right to lease the Option Space shall have no further rights pursuant to this paragraph. C.