Expansion Option Sample Clauses

Expansion Option. The Borrower may from time to time elect to increase the Revolving Credit Commitments (but not, for the avoidance of doubt, the Swingline Commitment) in minimum increments of $25,000,000 (or such lesser amount as the Administrative Agent may agree) so long as, after giving effect thereto, the aggregate amount of such increases does not exceed $50,000,000. The Borrower may arrange for any such increase to be provided by one or more Lenders (each Lender so agreeing to an increase in its Revolving Credit Commitment, an “Increasing Lender”), or by one or more new banks, financial institutions or other entities (each such new bank, financial institution or other entity, an “Augmenting Lender”; provided that no Ineligible Institution may be an Augmenting Lender), which agree to increase their existing Revolving Credit Commitments, or provide new Revolving Credit Commitments, as the case may be; provided that (i) each Augmenting Lender, shall be subject to the approval of the Borrower, each Letter of Credit Issuer, the Swingline Lender and the Administrative Agent and (ii) (x) in the case of an Increasing Lender, the Borrower and such Increasing Lender execute an agreement substantially in the form of Exhibit G hereto, and (y) in the case of an Augmenting Lender, the Borrower and such Augmenting Lender execute an agreement substantially in the form of Exhibit H hereto. No consent of any Lender (other than the Lenders participating in the increase) shall be required for any increase in Revolving Credit Commitments pursuant to this Section 2.15. Increases and new Revolving Credit Commitments created pursuant to this Section 2.15 shall become effective on the date agreed by the Borrower, the Administrative Agent and the relevant Increasing Lenders or Augmenting Lenders, and the Administrative Agent shall notify each Lender thereof. Notwithstanding the foregoing, no increase in the Revolving Credit Commitments (or in the Revolving Credit Commitment of any Lender) shall become effective under this paragraph unless, (i) on the proposed date of the effectiveness of such increase and immediately prior to giving effect to any such increase and the addition of any Augmenting Lenders to this Agreement, (A) the conditions set forth in paragraphs (a) and (b) of Section 6.2 shall be satisfied or waived by the Required Lenders and the Administrative Agent shall have received a certificate to that effect dated such date and executed by an Authorized Officer of the Borrower and (...
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Expansion Option. The Company may from time to time elect to increase the Commitments, in each case in minimum increments of $5,000,000 so long as, after giving effect thereto, the aggregate amount of such increases does not exceed $25,000,000. The Company may arrange for any such increase to be provided by one or more Lenders (each Lender so agreeing to an increase in its Commitment, an “Increasing Lender”), or by one or more new banks, financial institutions or other entities (each such new bank, financial institution or other entity, an “Augmenting Lender”), to increase their existing Commitments, or extend Commitments, as the case may be; provided that (i) each Augmenting Lender, shall be subject to the approval of the Company and the Administrative Agent and (ii) (x) in the case of an Increasing Lender, the Company and such Increasing Lender execute an agreement substantially in the form of Exhibit C hereto, and (y) in the case of an Augmenting Lender, the Company and such Augmenting Lender execute an agreement substantially in the form of Exhibit D hereto. No consent of any Lender (other than the Lenders participating in the increase) shall be required for any increase in Commitments pursuant to this Section 2.20. Increases and new Commitments created pursuant to this Section 2.20 shall become effective on the date agreed by the Company, the Administrative Agent and the relevant Increasing Lenders or Augmenting Lenders, and the Administrative Agent shall notify each Lender thereof. Notwithstanding the foregoing, no increase in the Commitments (or in the Commitment of any Lender) shall become effective under this paragraph unless, (i) on the proposed date of the effectiveness of such increase, (A) the conditions set forth in paragraphs (a) and (b) of Section 4.02 shall be satisfied or waived by the Required Lenders and the Administrative Agent shall have received a certificate to that effect dated such date and executed by a Financial Officer of the Company and (B) the Company shall be in compliance (on a Pro Forma Basis reasonably acceptable to the Administrative Agent) with the covenants contained in Section 6.11 and (ii) the Administrative Agent shall have received documents consistent with those delivered on the Effective Date as to the corporate power and authority of the Borrowers to borrow hereunder after giving effect to such increase. On the effective date of any increase in the Commitments being made, (i) each relevant Increasing Lender and Augmenting Lender ...
Expansion Option. (a) The Company may from time to time, but not more than five (5) times during the term of this Agreement, elect to increase the aggregate Commitments and/or enter into one or more tranches of term loans (each, an “Incremental Term Loan”), in each case in a minimum amount of $10,000,000 and an integral multiple of $5,000,000 in excess thereof so long as, after giving effect thereto, the aggregate amount of such Commitment increases and all such Incremental Term Loans does not exceed $200,000,000. The Company may arrange for any such Commitment increase or Incremental Term Loan to be provided by one or more Lenders (each Lender so agreeing to an increase in its Commitment, or to participate in such Incremental Term Loans, an “Increasing Lender”), or by one or more new banks, financial institutions or other entities (each such new bank, financial institution or other entity, an “Augmenting Lender”), to increase their existing Commitments, or to participate in such Incremental Term Loans, or extend Commitments, as the case may be; provided that (i) each Augmenting Lender shall be subject to the approval of the Company and the Administrative Agent and, except in the case of an Incremental Term Loan, the Swingline Lender and the Issuing Bank, which approvals shall not be unreasonably withheld and (ii) (A) in the case of an Increasing Lender, the Company and such Increasing Lender execute an agreement substantially in the form of Exhibit G, and (B) in the case of an Augmenting Lender, the Company and such Augmenting Lender execute an agreement substantially in the form of Exhibit H hereto. No consent of any Lender (other than the Lenders participating in such Commitment increase or Incremental Term Loan) shall be required for any such increase or Incremental Term Loan pursuant to this Section 2.21.
Expansion Option. If no event of Default is then continuing at the time of exercise, during the period commencing on the Effective date and ending on July 1, 2020 (the “Reservation Period”), by written notice (“Election Notice”) from Tenant to Landlord provided on or before the expiration of the Reservation Period, time being of the essence, Tenant will have the non-exclusive option to lease all or a portion of 1 floor of space consisting of approximately 71,314 RSF on the 2—5th floors of Building 2 or 4 (“Reservation Space”) as designated by Landlord, under the rental rate terms, rental abatement terms, and tenant improvement terms as set forth in this Lease with respect to the Premises originally leased hereunder (with the Term pro-rated to reflect the amount of the remaining Term, excluding any Renewal Term from such proration). If Tenant elects to lease the Reservation Space from Landlord during the Reservation Period, all the obligations, terms, and conditions under this Lease will also apply to the Reservation Space, e.g., amount of Fixed Rent per RSF then-current as of the commencement date for the Reservation Space, except that as of the date which is the earlier to occur of (a) the day upon which Tenant commences business in any portion of the Reservation Space, (b) the Completion Date for the Reservation Space that is anticipated to occur 18 months from Landlord’s receipt of the Reservation Space (“Reservation Space Commencement Dat”), (i) the Reservation Space will be deemed part of the Premises, (ii) Tenant’s Share as provided in Section 4.1(I) of this Lease will be adjusted, and (iii) Landlord’s Contribution with respect to the Reservation Space will be the product of $35.00 per RSF of the Reservation Space. Landlord and Tenant will enter into a written amendment to this Lease incorporating such revisions, within 10 days after Landlord’s receipt of the Election Notice.
Expansion Option. (i) The Borrower may from time to time after the Funding Date elect to increase the Aggregate Revolving Loan Commitment (each, a “Revolving Loan Increase”) or increase the aggregate principal amount of any Class of Term Loans or enter into one or more tranches of term loans (each an “Incremental Term Loan”), in each case in minimum amounts of $50,000,000 and increments of $10,000,000 so long as, after giving effect thereto, the aggregate amount of such Revolving Loan Increases and such Incremental Term Loans does not exceed (A) $325,000,000 plus (B) an additional amount, so long as, after giving effect to the incurrence of such additional amount (and assuming for such purposes that the entire amount of any such Revolving Loan Increase is fully funded), the pro forma Senior Secured Leverage Ratio does not exceed 2.75 to 1.00, it being understood that the aggregate principal amount of all Revolving Loan Increases, taken as a whole, shall not exceed $100,000,000. The Borrower may arrange for any such Revolving Loan Increase or Incremental Term Loan to be provided by one or more existing Lenders (each existing Lender so agreeing to an increase in its Revolving Loan Commitment, or to participate in such Incremental Term Loans, an “Increasing Lender”), or by one or more new banks, financial institutions or other entities (each such new bank, financial institution or other entity, an “Augmenting Lender”), to increase their existing Revolving Loan Commitments or to participate in such Incremental Term Loans (it being agreed that any Lender approached to provide any such Revolving Loan Increase or Incremental Term Loans may elect or decline, in its sole discretion, to provide such Revolving Loan Increase or Incremental Term Loans); provided that (i) each Augmenting Lender, shall be subject to the approval of the Borrower and the Administrative Agent and, in the case of a Revolving Loan Increase, the Issuing Banks (which consent shall not be unreasonably withheld or delayed), and (ii) with respect to any Revolving Loan Increase, (x) in the case of an Increasing Lender, the Borrower and such Increasing Lender execute an agreement substantially in the form of Exhibit E-1 hereto (each, an “Increasing Lender Supplement”), and (y) in the case of an Augmenting Lender, the Borrower and such Augmenting Lender execute an agreement substantially in the form of Exhibit E-2 hereto (each, an “Augmenting Lender Supplement”). No consent of any Lender (other than the Lenders partic...
Expansion Option. (a) At any time prior to February 28, 1999, Tenant shall have the option to expand the Premises to include either (i) all of the office space on all or one or more entire floors of the Fourth (4th), Fifth (5th) and Sixth (6th) Floors of the Building, or (ii) all of the office space on all or one or more entire floors of the Sixth (6th), Tenth (l0th) and Eleventh (11th) Floors of the Building (the "Expansion Space"), which option hereinafter shall be referred to as the "Expansion Option." Tenant shall not be entitled to exercise the aforesaid Expansion Option to lease Expansion Space if, at the time Tenant is entitled to exercise said option, Tenant has subleased or has entered into an agreement to sublease in the future more than twenty-five percent (25%) of the then total amount of rentable square feet of the Premises, unless Tenant itself occupies at all times the Expansion Space and does not relocate its employees from the initial Premises into the Expansion Space in order to comply with this provision. To exercise the Expansion Option, Tenant must deliver to Landlord written notice of the exercise of the Expansion Option (the "Expansion Notice") on or before February 28, 1999. If Tenant delivers to Landlord the Expansion Notice within the time provided herein, the Expansion Space shall be leased upon all of the same terms and conditions set forth in this Lease with respect to the Premises (which terms and conditions shall be adjusted proportionately to account for the increased rentable square footage of the Premises upon inclusion of the Expansion Space), except that: (1) the Lease Term with respect to the Expansion Space shall commence on the later of (A) September 1, 2000, or (B) the date on which Landlord delivers the Expansion Space to Tenant; (2) Tenant shall be obligated to pay Base Rent and Additional Rent for the Expansion Space beginning on the date that is 120 calendar days after the date on which Landlord delivers the Expansion Space to Tenant; (3) if Tenant exercises the Expansion Option with respect to Expansion Space on the Tenth (10th) or Eleventh (11th) Floors, the Base Rental for that space shall be Two Dollars ($2.00) per rentable square foot greater than that for the remainder of the Premises; and (4) Landlord shall provide to Tenant an "Expansion Space Improvement Allowance" equal to Twenty-Seven and 50/100 Dollars ($27.50) per rentable square foot of the Expansion Space, which shall be paid by Landlord, and may be used by Tenant i...
Expansion Option. (a) If, at anytime during the Term, any space on the fourth floor of the Building contiguous to the Premises which is leased as of the date of this Lease becomes available for lease (the “Expansion Space”), Landlord agrees to deliver to Tenant a notice setting forth the terms upon which Landlord would lease the Expansion Space to a third party tenant (the “Offer Notice”) and an offer to Tenant to lease such Expansion Space on such terms (the “Expansion Space Option”). The Offer Notice shall provide (i) the rent for the Expansion Space, which if the Offer Notice is given prior to the second (2nd) anniversary of this Lease, shall be calculated on the same Basic Rent and Additional Rent terms as provided in this Lease, or, if given after the second (2nd) anniversary, shall be the Fair Market Rental Value as determined by Landlord (but in no event less than the Basic Rent (on a per rentable square foot basis) and Additional Rent then currently paid by Tenant for the Premises) (the “Expansion Space Rent”), and (ii) that the term of the lease for the Expansion Space shall expire contemporaneously with the expiration of the lease term provided herein (as same may be extended as hereinafter provided). The obligation of Landlord to deliver an Offer Notice pursuant to this Section 32.1 is subject to the rights of any other tenant in the Building that has a lease as of the date hereof to such Expansion Space or to any other tenant then occupying the Expansion Space.
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Expansion Option. Section 33.1 Subject to the terms and provisions hereof, and provided that (i) this Lease is then in full force and effect, (ii) no uncured monetary Event of Default then exists hereunder and provided that there are no outstanding mechanic’s lien, financing statement or other lien, charge or order in existence filed against Landlord, or against ail or any portion of the Premises, the Building or the Real Property due to any act or omission of Tenant or any Tenant Party, that has not been actually released and discharged of record or bonded or insured over to the reasonable satisfaction of Landlord, and (iii) Tenant is in actual physical occupancy of at least 75% of the Premises, Tenant is hereby granted the one-time option (the “Expansion Option”) to lease 14,480 Rentable Square Feet as an entirety on the third floor of the Building as shown on Exhibit G annexed hereto (the “Expansion Space”), which space constitutes a portion of the space currently leased by Landlord to Bankers Life and Casualty Company (“Bankers”). Landlord represents to Tenant that Bankers’ lease with respect to the Expansion Space expires on November 30, 2013 and Bankers does not have the right or option to renew or extend the term of its lease as to the Expansion Space. The Expansion Option shall be exercisable by Tenant’s giving irrevocable written notice to Landlord (the “Expansion Notice”) of Tenant’s election so to do on or before January 1, 2013. Anything contained in this ARTICLE 33 to the contrary notwithstanding, Tenant shall not have the right to exercise the Expansion Option, and the Expansion Option shall be deemed to have been irrevocably waived, unless Tenant shall have exercised the Renewal Option prior to or simultaneously with Tenant’s exercise of the Expansion Option.
Expansion Option. (a) Subject to the provisions of this Section 26, Subtenant shall have the continuous and ongoing right of first option to lease Available Additional Space (defined herein) on the terms and conditions hereinafter set forth (the “Expansion Option”). If at any time or times during the Sublease Term Sublessor desires to market any space in the Building for sublease to any entity that is not a Sublessor Affiliate (as hereafter defined) (“Available Additional Space”), and provided that (i) Subtenant is not in default beyond any applicable notice and cure period set forth herein for curing such default, (ii) Sublessor does not elect to allow the then-existing subtenant occupying the Available Additional Space to extend the term of its sublease (whether or not pursuant to an option contained in such sublease), (iii) Subtenant has not assigned or sublet all or any portion of the Sublet Premises and (iv) there remains, as of the Expansion Space Sublease Commencement Date, at least one (1) year in the Sublease Term, then, prior to entering into a letter of intent with a prospective subtenant, Sublessor shall send written notice to Subtenant informing it that such space will become available for sublease (the “Availability Notice”). The Availability Notice shall specify (i) the effective date (the “Expansion Space Sublease Commencement Date”) that such space will become available for sublease and occupancy, and (ii) the base rent (including escalations), and the base year for Operating Expenses and Real Estate Tax Expenses (which shall be determined in accordance with the provisions of this Section 26, including (i) and (ii) below) (collectively the “Economic Terms”) that Sublessor proposes for the subletting of such Available Additional Space to Subtenant. Space on the sixth (6th) floor of the Building, which Sublessor is currently marketing for sublease, shall not be considered “Available Additional Space” until after the initial subleasing of the sixth (6th) floor. If the Expansion Space Sublease Commencement Date for any sublease of Available Additional Space to Subtenant occurs (i) during the first Sublease Year, then the Annual Base Subrent and Additional Subrent (including the Operating Expenses Base Year and Real Estate Tax Expenses Base Year) shall be the then-escalated amounts (on a per rentable square foot basis), and (ii) after the first Sublease Year, then the Annual Base Subrent and Additional Subrent shall be the fair market value Annual Base Subrent a...
Expansion Option. (a) Provided that: (i) Tenant is not then in default of this Lease beyond applicable grace and notice periods, and (ii) Tenant is then in actual physical occupancy of one hundred (100%) percent of the Premises, (unless Tenant is not in occupancy due to casualty, condemnation or other causes beyond Tenant’s reasonable control), Tenant shall have the option (the “Expansion Option”) to lease the following spaces in the Building: 2nd Floor (including mezzanine), 00xx Xxxxx, 00xx Xxxxx and 40th Floor, each hereafter individually referred to as an “Option Floor”. A floor plan for each of the Option Floors is attached hereto as Exhibit B. The Expansion Option for each Option Floor must be exercised by written notice to Landlord (“Option Notice”) no later than the Last Date by Which Tenant Can Exercise the Option, set forth in the chart below (“Last Date”). If Tenant has not sent to Landlord an Option Notice for an Option Floor on or before the respective Last Date, Landlord shall send to Tenant a written notice reminding Tenant of the Expansion Option and the Last Date (“Reminder Notice”). If a Reminder Notice is sent within the sixty (60) day period prior to the Last Date for a particular Option Floor, then time shall be of the essence for Tenant to exercise the Expansion Option on or before the Last Date, failing which, the Expansion Option for the respective Option Floor shall expire and be of no further force and effect. If Landlord sends the Reminder Notice on or after the Last Date, then the Expansion Option for the respective Option Floor shall be deemed extended for an additional five (5) business days after delivery to Tenant of the Reminder Notice. If Landlord sends the Reminder Notice on or after the Last Date, then time shall be of the essence for Tenant to exercise the Expansion Option on or before the fifth business day after delivery to Tenant of the Reminder Notice, and in such event, if Tenant fails to exercise the Expansion Option on or before the fifth business day after delivery of the Reminder Notice, then the Expansion Option for the respective Option Floor shall expire and be of no further force and effect. Last Date by Landlord’s Which Work Option Floor Fixed Rent Per Tenant Can Contribution Anticipated and The Rentable Square Exercise the per Rentable Delivery Percentage Foot Option Square Foot Date Rent Credit 2nd Floor and Mezzanine 2.74% 14,011 sq ft $36.00 thru 3/31/16 $38.00 from 4/1/17 December 31, 2011 None July 1, 2013 1/2 month r...
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