Option Space definition
Option Space means any of the First Option Space, the Second Option Space or the Third Option Space.
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.
Option Space. As more particularly set forth in the Second Amendment, Landlord is prohibited from leasing certain space on the twenty-ninth (29th) floor of the Lexington Avenue Building without first offering such space to Tenant on the terms set forth in the Second Amendment.
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.
The rent payable under this Lease shall be increased by the amount of rent attributable to the Option Space or part of it that is leased by Tenant.
Therefore, Tenant shall have no option with regard to any portion of the Option Space which is currently leased or subject to a currently existing grant of any such options or rights by Landlord until termination or expiration of such lease and/or the lapse or expiration of any such options or rights.
Upon request of Owner or Tenant, the parties from time to time, shall execute and deliver to the other, instruments, in form reasonably satisfactory to the parties, stating whether or not Tenant has exercised any right to lease any Additional Option Space pursuant to the provisions of this Article.
Except for an excluding leases to the Company, Developer hereby understands and agrees that it shall not enter into any lease for any portion of the Option Space in the Building which is 10,000 square feet or greater without the City's prior written consent, which consent shall be not be unreasonably withheld.
More Definitions of Option Space
Option Space means the space, on the 6th floor of the Building, which is currently known and designated as Suite 630. The term “Existing Lease” shall mean the lease pursuant to which Landlord, on the date of this Lease, is leasing the Option Space to the tenant thereof.
Option Space means, collectively, the 9th Floor Option Space and the 8th Floor Option Space.
Option Space as defined in Section 67.01 Outside Date - as defined in Section 66.01 Owner - 40 Wall Development Associates, LLP or any successor thereof Preliminary Installations - as defined in Section (d) Part E of Exhibit D Property - shall mean the Land and Building Rate - as defined in Section 60.04 (b) Rent, rent or fixed rent - as defined in Section 38.01(a) Rent Commencement Date - as defined in Section 38.03 Replacement L/C - as defined in Section 65.06 Replacement Notice - as defined in Section 65.06 Revised Tenant's Plans - as defined in Section 2 Part C of Exhibit D Revisions - as defined in Section 4 Part C of Exhibit D Security - as defined in Section 65.01 Soft Costs - as defined in Section (f) of Part E of Exhibit D Subletting Expenses - as defined in Section 42.09 (b) Successor landlord - as defined in Section 41.03 Superior Lease - as defined Section 41.01 Superior Mortgage- as defined in Section41.01 Tax Expenses- as defined in Section 39.04 Tax Payment- as defined in Section 39.02 Tax Statement - as defined in Section 39.05 Tax Year - as defined in Section 39.01 (c) Taxes- as defined in Section 39.01 (a) Tenant- as defined in Exhibit E Item 12 Tenant Changes- as defined in Section 51.01 Tenant's Acceptance - as defined in Section 67.03 Tenant's Cost- as defines in Section 60.04 (c) Tenant's Plans- as defined in Section 1 Part C of Exhibit D Tenant's Projected Share of Taxes- as defined in Section 39.01 (e) Tenant's Property- as defined in Section 53.02 Tenant's Proportionate Share- as defined in Section 39.01 (d) Tenant's Rejection - as defined in Section 67.03 Tenant's Share - as defined in Part F of Exhibit D Usage- as defined in Section 60.04 (a) Work - as defined in Subdivision (c) of Part E of Exhibit D Work Cost- as defined in Subdivision (a) of Part E of Exhibit D
Option Space means that portion of the ground floor of the Building which is designated as "Option Space" on Exhibit "A" annexed hereto and made a part hereof. Landlord and Tenant hereby agree that the Option Space comprises 5,930 RSF and that the Leased Premises, inclusive of the Option Space, comprises 78,086 RSF.
Option Space as used herein shall mean any of the following: (i) 16,397 rentable square feet on the fifth (5th) floor of the Building as shown to the left of the heading “Tenant ‘B’” on Exhibit A (the “Fifth Floor Option Space”); (ii) 13,028 rentable square feet on the seventh (7th) floor of the Building as shown to the left of the heading “Tenant ‘A’” on Exhibit B attached hereto and made a part hereof (the “Seventh Floor A Option Space”) and (iii) 6,623 rentable square feet on the seventh (7th) floor of the Building as shown to the left of the heading “Tenant ‘B’” on Exhibit B (the “Seventh Floor B Option Space) which Landlord intends to offer for leasing. Notwithstanding the foregoing, Option Space shall not include any space (i) which is subject to (a) a lease which grants the tenant thereunder any unexpired rights of renewal or extension as to such space or (b) the right, option or obligation of any other tenant or person to lease such space, (ii) which Landlord intends to offer to the existing tenant of such space notwithstanding the absence of any renewal or extension rights in such tenant’s existing lease, provided, however, that if such existing tenant rejects such offer by Landlord, such space shall become Option Space if such space would otherwise be Option Space pursuant to the provisions of this Section 40.01 or (iii) which Landlord intends to lease or otherwise make available to an affiliate of Landlord.
Option Space shall have the meaning set forth in Section 44.1.
Option Space means the any vacant space within the existing building (being approximately 64,493 square feet), not including any new building construction (i.e.; expansion of the building), that has not yet been initially leased to another tenant.