Expansion Sample Clauses
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Expansion. Effective on and as of December 1, 2017 (such date being the -Expansion Commencement Date”), the Premises shall be expanded to include an additional 7,389 square feet of rentable area designated as Suite 100 of the Building (the “Expansion Space”), being more fully shown and described on the floor plan attached hereto as Exhibit A and made a part hereof for all purposes, for a term that is coterminous with the Lease Term. Tenant acknowledges that the Expansion Space is currently occupied by an existing tenant (the “Existing Tenant”) and that Landlord and such Existing Tenant are concurrently herewith entering into an early termination agreement to terminate such Existing Tenant’s lease as of November 30, 2017. Tenant hereby waives any claims against Landlord in the event that such Existing Tenant holds over in the Premises beyond the Expansion Commencement Date. If such Existing Tenant holds over in the Expansion Space beyond the Expansion Commencement Date, the Expansion Commencement Date, and ▇▇▇▇▇▇’s obligation to commence paying rent with respect to the Expansion Space, shall nonetheless still commence on the Expansion Commencement Date. Following such Existing Tenant surrendering the Expansion Space to Landlord, Landlord shall thereafter deliver the same to Tenant. Upon the Expansion Commencement Date, Landlord may prepare and deliver to Tenant a certificate establishing the Expansion Commencement Date, which Tenant shall acknowledge by executing a copy and returning it to Landlord within ten (10) business days after its receipt from Landlord. Failure of Landlord to send any such certificate shall have no effect on the Expansion Commencement Date. In the event there is any delay in the delivery of the Expansion Space to Tenant (including, without limitation, due to the Existing Tenant holding over in the Expansion Space past the expiration of its lease), then this First Amendment shall not be void or voidable, nor shall Landlord be liable to Tenant for any loss or damage resulting therefrom. ▇▇▇▇▇▇ has advised Landlord that it intends to permit Existing Tenant continue to occupy the Expansion Space through December 15, 2017, and Landlord hereby consents to Tenant permitting Existing Tenant to remain the Expansion Space through such date; provided, however, the Expansion Commencement Date, and Tenant’s obligation to commence paying rent with respect to the Expansion Space, shall commence on the Expansion Commencement Date.
Expansion. If during the term of this Lease, Tenant occupies, under a new written Lease with Landlord, space of a size substantially larger than the present Leased Premises within any development owned by Landlord, this Lease shall be terminated upon execution of the Lease for such substitute space. Notwithstanding the above-stated, Tenant shall remain obligated to pay for any Rents or other sums due Landlord as a result of Tenant's tenancy hereunder, and such obligation shall survive the termination of this Lease pursuant to this Paragraph 36.
Expansion. Lessee shall have a right of first offer (“ROFO”) to lease additional space as it becomes available in the Building (“ROFO Space”) during the initial Term of the Lease, provided (a) Lessee is the party originally named herein or a permitted affiliate assignee, (b) Lessee actually occupies and operates its business in at least 80% of the Leased Premises, (c) no event of Default of the Lessee’s obligations hereunder beyond all applicable notice and cure periods exists as of the date of exercise of the rights described in this Article 41. For purposes hereof, the ROFO Space will be available when it is vacant or otherwise ready, in Lessor’s commercially reasonable judgment, to be marketed by Lessor to third parties other than the then existing tenant or then current occupant thereof. Lessor shall give Lessee prompt written notice of the availability of the ROFO Space. Lessee shall have twenty (20) days from the receipt of ▇▇▇▇▇▇’s notice to notify Lessor whether Lessee wishes to lease the ROFO Space. Except for the length of lease term thereof, the lease for the ROFO Space will be on substantially similar terms to this Lease. To exercise the ROFO, a minimum term of five (5) years will be required for the existing Leased Premises and ROFO Space, such space leases to be co-terminus. If, in any particular instance, Lessee does not exercise its ROFO, after the ROFO Space in question has been leased by Lessor to a third party, if the ROFO Space should again become available, Lessee shall again have the first right to lease with respect thereto as set forth in this Article 41.
Expansion a. Suite 350: Tenant is granted a one-time right to expand its Premises by addition thereto of the existing 4,515 rentable square foot office Suite 350 (“Suite 350”, as more clearly delineated on Exhibit D hereto). As part of this right, Tenant shall have the right to expand Suite 350 by the addition thereto of the small common seating area (the “Seating Area”), as such is more clearly delineated on Exhibit D. In the event Tenant elects to include the Seating Area into Suite 350, the rentable square footage of the enlarged Suite 350 shall be 4,684. Tenant’s option to lease Suite 350 (including possibly the Seating Area) is referred to herein as the “Suite 350 Expansion Option”. Tenant may invoke the Suite 350 Expansion Option (including the decision whether or not to include therein the Seating Area) by written notice to Landlord made on or before June 30, 2016. In the event Tenant so notifies Landlord of Tenant’s election of the Suite 350 Expansion Option, Landlord shall deliver possession of Suite 350 (and also of the Seating Area, if applicable) to Tenant, in their then respective as-is conditions, within thirty (30) days of Landlord recapturing possession of Suite 350 from the prior third-party tenant. The date of Landlord’s delivery of possession of Suite 350 to Tenant shall be referred to as the “Suite 350 Commencement Date”. Effective upon the ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇ (▇▇▇ the Seating Area, if applicable) shall be added to Tenant’s Premises and shall be subject to all the terms and conditions of the Lease. To reflect the addition to Tenant’s Premises of Suite 350, the Monthly Base Rent Tenant is otherwise obligated to pay for the Premises pursuant to the terms of the Lease shall be increased by monthly base rent applicable to Suite 350 (the “Suite 350 Monthly Base Rent”). The Suite 350 Monthly Base Rent shall be equal to the Suite 350 rentable square footage (which may include the rentable square footage of the Seating Area, as discussed above), multiplied by the Suite 350 Monthly Base Rental Rate applicable from time to time, as outlined below: Present—12/31/16 $3.33 per rentable square foot per month Commencing January 1, 2017 and annually thereafter, the Suite 350 Monthly Base Rental Rate shall be increased by three percent (3%). Notwithstanding any of the above, Suite 350 shall be free of Monthly Base Rental for the first sixty (60) days following the Suite 350 Commencement Date. The Suite 350 Monthly Base Rental Rate applicable to...
Expansion. (a) In order to exercise this option, Tenant must so notify Landlord, in writing, on or before the last day of the ninth (9th) full month of the Term, time being of the essence.
(b) Landlord shall deliver vacant possession of the Expansion Space to Tenant upon receipt of Tenant's exercise notice, and Tenant shall accept the Expansion Space in a strictly "as is" condition, except that Landlord shall be responsible for removing or demolishing the built-in equipment (but not any permanent improvements such as walls, floors and ceilings) that make up the cafeteria in the Expansion Space.
(c) Tenant shall be responsible for all build-out and/or interior finish work that it shall require in the Expansion Space, which work (the "Expansion Work") shall be subject to the provisions of Article 15 hereof.
(d) Landlord shall provide Tenant with an allowance of up to Thirty- Five Thousand and 00/100 Dollars ($35,000.00) toward the cost of the Expansion Work, which allowance shall be paid by Landlord to Tenant within thirty (30) days after the following has occurred:
(i) Tenant has provided Landlord with a certificate of occupancy for the Expansion Space, and a certificate from Landlord's architect that the Expansion Work has been substantially completed in accordance with the plans and specifications that have been approved by Landlord; and
(ii) Tenant has provided Landlord with a detailed invoice of the costs incurred.
(e) The Expansion Space shall become part of the Leased Premises, and all of the terms and conditions of this Lease shall apply thereto, as of a date (the "Expansion Date") that is the earlier of (i) the date Tenant first commences business operations in the Expansion Space, or (ii) the first day of the thirteenth (13th) full month of the Term.
(f) As of the Expansion Date:
(i) Base Rent shall be increased by an amount equal to One Hundred Seventy-Six Thousand Two Hundred Fifty and 00/100 Dollars ($176,250.00) per year (which is based on $11.75 per Rentable Square Foot and shall be adjusted if the measurement of the Expansion Space by Landlord's architect discloses a different number of Rentable Square Feet in the Expansion Space), payable in monthly installments of Fourteen Thousand Six Hundred Eighty-Seven and 50/100 Dollars. ($14,687.50), pro-rated for any partial month, provided that if the Expiration Date is before the first day of the thirteenth (13th) full month of the Term, then Base Rent for the Expansion Space for the period from the Expansion...
Expansion. The Variable Facility Commitment is hereby increased by $5,634,000 and the definition of Variable Facility Commitment is hereby replaced in its entirety with the following new definition:
Expansion. The Salary of any player selected by an Expansion Team in an expansion draft and terminated in accordance with the WNBA waiver procedure before the first day of the Expansion Team’s first Season shall not be included in the Expansion Team’s Team Salary, except, to the extent such Salary is paid, for purposes of determining whether the Expansion Team has satisfied its Minimum Team Salary obligation for such Season under Article VII, Section 1(d) and whether the WNBA has satisfied the League-wide Guarantee under Article VII, Section 1(c).
Expansion. Effective as of the Expansion Effective Date (defined below), the Premises, as defined in the Lease, is increased from 7,882 rentable square feet on the 3rd floor to 11,225 rentable square feet on the 2nd and 3rd floors by the addition of the Expansion Space, and from and after the Expansion Effective Date, the Original Premises and the Expansion Space, collectively, shall be deemed the Premises, as defined in the Lease. The term for the Expansion Space shall commence on the Expansion Effective Date and end on the Extended Termination Date (as hereinafter defined). The Expansion Space is subject to all the terms and conditions of the Lease except as expressly modified herein and except that Tenant shall not be entitled to receive any allowances, abatements or other financial concessions granted with respect to the Original Premises unless such concessions are expressly provided for herein with respect to the Expansion Space.
Expansion. Effective as of the Expansion Effective Date (as hereinafter defined), the Premises is increased from 11,357 rentable square feet on the 16th floor to 15,017 rentable square feet described as Suite No(s). 1616 and 1625 on the 16th floor by the addition of the Expansion Space. The lease term for the Expansion Space shall commence on the Expansion Effective Date and end on the Termination Date (as hereinafter defined). The Expansion Space is subject to all the terms and conditions of the Lease except as expressly modified herein and except that Tenant shall not be entitled to receive any allowances, abatements or other financial concessions granted with respect to the Premises unless such concessions are expressly provided for herein with respect to the Expansion Space.
A. The Expansion Effective Date shall be the later to occur of (i) April 15, 1994 ("Target Expansion Effective Date"), or (ii) the date upon which Landlord's improvement work in the Expansion Space has been substantially completed; provided, however, that if Landlord shall be delayed in substantially completing the Landlord's work in the Expansion Space as a result of the occurrence of any of the following (a "Delay"):
1. Tenant's failure to furnish information or to respond to any request by Landlord for any approval or information within any time period prescribed or, if no time period is prescribed, then within two (2) Business Days of such request: or
2. Tenant's insistence on materials, finishes or installations that have long lead times after having first been informed by Landlord that such materials, finishes or installations will cause a Delay provided, however. Landlord agrees that the materials. finishes and installations set forth in the plans shall not cause a Delay: or
3. Changes in any plans and specifications; or
4. The performance or nonperformance by a person or entity employed by Tenant in the completion of any work (all such work and such persons or entities being subject to the prior approval of Landlord); or
5. Any request by Tenant that Landlord delay the completion of any of the Landlord's work; or
6. Any breach or default by Tenant in the performance of Tenant's obligations under this Amendment or the Lease; or
7. Any delay resulting from Tenant's having taken possession of the Expansion Space for any reason prior to substantial completion of the Landlord's work; or, except as required during construction; or
8. Any other delay, except as approved by Landlord, chargeab...
Expansion. 7. Within one (1) year of the effective date of this Agreement, KleinBank shall open one (1) full-service brick and mortar office, as defined by the Federal Deposit Insurance Corporation (“FDIC”),3 within a majority-minority census tract within Hennepin County, subject to regulator approval. The new branch office shall be in a location accessible to concentrations of owner-occupied residential properties in majority-minority census tracts. The new branch shall provide the range of services typically offered at KleinBank’s other full-service branches, to include a full-time on-site residential lending officer, fully trained in all aspects of home mortgage and home equity lending and whose work will include marketing and outreach to residents of majority-minority census tracts in a manner consistent with the terms of this Agreement. KleinBank shall continue to operate this new branch throughout the duration of this Agreement.
8. KleinBank has and shall continue to develop partnerships with organizations to help establish a presence in majority-minority census tracts in Hennepin County, in order to continue to increase the bank’s presence in these areas and to assist in developing strategies to 2 As of the effective date of this Agreement, KleinBank’s federal banking regulator is the Federal Deposit Insurance Corporation (“FDIC”).
3 A “full-service brick and mortar office” must “[a]ccept deposits, make loans, open/close accounts, [and have a] loan officer on site, normal hours, [and] full-time staff; [it] may have safe deposit facilities on site. The site may be owned by the institution or may be leased by the institution.” See ▇▇▇▇▇://▇▇▇▇▇▇▇▇.▇▇▇▇.▇▇▇/bankfind/glossary.html. expand the bank’s marketing to, and intake of residential mortgage loan applications from, residents of these areas. KleinBank shall present to the United States a written proposal for continuing its community partnerships not later than six (6) months after the effective date of this Agreement that details how KleinBank intends to engage in the partnership(s) over the term of the Agreement.4 The proposal shall explain how the partnerships will assist KleinBank in serving the credit needs of residents of majority-minority census tracts. The United States shall review the proposal and communicate any objections within thirty (30) days. If the United States raises objections to the proposal, the parties shall confer in an attempt to resolve their differences. In the event the parties cann...