Common use of Expansion Clause in Contracts

Expansion. Provided no Events of Default are uncured and continuing after applicable notice and cure periods and that Tenant satisfies the Financial Condition at the time of its election hereunder, Tenant shall have the right to cause Landlord to expand the Building, add additional building(s) to the Leased Land and/or add parking spaces to the Premises. Landlord hereby agrees to not develop the Land in any manner that would prevent or materially limit Tenant’s ability to expand the Building or build additional buildings or improvements on the Leased Land. At Tenant’s request, Landlord shall cooperate in good faith with Tenant to accommodate any expansion needs that Tenant may have and to develop plans to expand the Building, add additional building(s) to the Leased Land and/or add parking spaces to the Premises, provided that the parties can reasonably agree upon terms for expansion including a reasonable lease constant to provide a return to Landlord on its additional investment. Any agreement with respect to expansion space shall be on economic terms that are materially consistent with this Lease, with adjustments, as necessary, to take into account, among other things; (a) changes in the lending environment, (b) prevailing interest rates, (c) changes in Tenant’s creditworthiness, (d) the nature of the new space as compared to the nature of the space pursuant to the original Lease (e.g. portion of the Premises designated as office space and lab space), and (e) the relative cost of the construction of such expansion space. All of the foregoing shall be at Tenant’s cost and expense and at no cost or expense to Landlord. Any right of expansion is personal to Tenant and its permitted assignees and cannot be assigned to any other person notwithstanding any assignment of this Lease. (1) Capitalized terms used herein but not defined herein shall have the meanings ascribed such terms in the Lease, to which reference should be made. Article and Section references herein are to the Lease. LEASE PROVISION REGARDING RIGHT OF FIRST REFUSAL(2)

Appears in 1 contract

Sources: Lease Agreement (Incyte Corp)

Expansion. Provided no Events of Default are uncured Tenant is not in default under this Lease and continuing after applicable notice --------- provided that this Lease is in full force and cure periods effect and provided further that Tenant satisfies has not assigned this Lease, then Tenant shall have the Financial Condition following rights to lease, at the time termination of the existing lease (including, all extension options) to Altera Semiconductor, Inc. ("Altera"), the space in Building D presently leased to Altera. Tenant further acknowledges that Altera has an option to extend the term of its election hereunderexisting lease. A. Before listing or advertising Building D to prospective tenants or purchasers, Landlord shall first notify Tenant of the availability of Building D and shall present the first offer to lease Building D to Tenant. B. After presentation of Landlord's offer, and provided that Landlord and Tenant are unable to reach agreement, following good faith negotiations, as to the terms and conditions under which the parties would be willing to enter into a lease of Building D, Tenant shall have a right of first refusal to lease Building D as set forth herein. If Landlord proposes to lease a space in Building D (the "Available Space") to a prospective tenant and if Altera has failed to exercise any right of first refusal it may have as to the Available Space, then Landlord shall notify Tenant in writing of the following basic business terms upon which the Landlord is willing to lease such space (collectively referred to herein as the "Basic Business Terms"): (i) the description of the Available Space; (ii) the term of the Lease; (iii) the tenant improvements Landlord is willing to construct or that it will require to be constructed and the contribution Landlord is willing to make to pay for such tenant improvements; (iv) the rent for initial term or the formula to be used to determine such rent (including, if applicable) free rent, Tenant's share of taxes, assessments, operating expenses, insurance costs and the like; (v) any option or options to extend (including the rent to be charged during the extension periods); and (vi) any other material business term Landlord elects to specify. C. If Tenant, within ten (10) business days after receipt of Landlord's notice, delivers to Landlord its written agreement to lease the Available Space on the Basic Business Terms stated in Landlord's Notice, the Landlord shall lease to Tenant and Tenant shall lease from Landlord the Available Space on the terms and conditions in Landlord's Notice (the "Second Lease") provided, however, that this Lease shall be modified to include, and the Second Lease shall include, a cross-default provision providing that Tenant will be in default under both the Second Lease and this Lease, if it is in default under either Lease. D. If Tenant does not deliver to Landlord its written agreement to the Second Lease on the terms contained in Landlord's notice within said ten (10) business day period, then Landlord shall thereafter have the right to cause Landlord to expand lease the Building, add additional building(s) to the Leased Land and/or add parking spaces to the Premises. Landlord hereby agrees to not develop the Land in any manner that would prevent or materially limit Tenant’s ability to expand the Building or build additional buildings or improvements Available space on the Leased Land. At same Basic business Terms set forth in Landlord's notice and on such form of Lease, as Landlord chooses; provided, however, that Landlord may make any changes to such form of lease at the request of any prospective tenant to induce it to lease such space from Landlord so long as Landlord does not change the Basic Business Terms set forth in Landlord's notice. E. The provisions of this paragraph shall terminate upon (i) the expiration or earlier termination of this Lease; or (ii) any assignment by Tenant of its interest in this Lease or the subletting by Tenant of substantially all of the Premises for substantially all of the remainder of the Lease Term; or (iii) as to any particular space, Tenant’s request's failure to exercise its right of refusal granted herein as to such space at its first opportunity to do so. F. Provided that Tenant shall have exercised its option to lease Building D, Landlord shall cooperate in good faith shall, at least one hundred twenty (120) days before the renewal date for the insurance carried by Landlord pursuant to Section 11.2, provide Tenant with Tenant to accommodate any expansion needs a statement identifying the material terms of such insurance coverage, including the premiums payable, coverage limits and deductibles required. In the event that Tenant may have and reasonably determines that Tenant can maintain such insurance at a cost to develop plans Tenant of at least five percent (5%) less than the cost to expand Tenant of reimbursing the Buildingcost of maintaining such coverage to Landlord, add additional building(sthen Tenant shall be entitled to notify Landlord, no more than thirty (30) days following receipt of Landlord's statement, that Tenant intends to maintain such insurance. Tenant shall thereafter maintain the Leased Land and/or add parking spaces insurance required by Section 11.2 hereof, in conformance with consistent requirements imposed from time to time by the holders of mortgages or deeds of trust of the Premises, provided that the including, if required, delivery to such parties can of reasonably agree upon terms for expansion including a reasonable lease constant to provide a return to Landlord on its additional investment. Any agreement with respect to expansion space shall be on economic terms that are materially consistent with this Lease, with adjustments, as necessary, to take into account, among other things; (a) changes in the lending environment, (b) prevailing interest rates, (c) changes in Tenant’s creditworthiness, (d) the nature satisfactory evidence of the new space as compared to the nature of the space pursuant to the original Lease (e.g. portion of the Premises designated as office space and lab space), and (e) the relative cost of the construction maintenance of such expansion space. All of the foregoing shall be at Tenant’s cost and expense and at no cost or expense to Landlord. Any right of expansion is personal to Tenant and its permitted assignees and cannot be assigned to any other person notwithstanding any assignment of this Leasecoverage. (1) Capitalized terms used herein but not defined herein shall have the meanings ascribed such terms in the Lease, to which reference should be made. Article and Section references herein are to the Lease. LEASE PROVISION REGARDING RIGHT OF FIRST REFUSAL(2)

Appears in 1 contract

Sources: Sublease (Nvidia Corp/Ca)

Expansion. Provided no Events Paragraph 1 of Default are uncured and continuing after applicable notice and cure periods and that Tenant satisfies the Financial Condition at the time Section 8.13A of its election hereunder, Tenant shall have the right to cause Landlord to expand the Building, add additional building(s) Addendum No. 2 attached to the Leased Land and/or add parking spaces Lease is hereby deleted in its entirety and replaced with the following: (a) The plans and specifications (the “Plans and Specifications”) for the Additional Improvements are attached hereto and made a part hereof as Exhibit B. The Plans and Specifications detail certain work to the Premises. be completed by Landlord hereby agrees (“Landlord’s Work”) and certain work to not develop the Land in any manner that would prevent or materially limit be completed by Tenant (“Tenant’s ability to expand Work”). Promptly following the Building or build additional buildings or improvements on the Leased Land. At Tenant’s requestexecution hereof, Landlord shall cooperate in good faith with Tenant commence Landlord’s Work and diligently pursue the same to accommodate any expansion needs that Tenant may have and to develop plans to expand the Building, add additional building(s) to the Leased Land and/or add parking spaces to the Premises, provided that the parties can reasonably agree upon terms for expansion including a reasonable lease constant to provide a return to Landlord on its additional investmentcompletion. Any agreement with respect to expansion space Landlord’s Work shall be on economic terms that are materially consistent with this Leasecompleted at the sole cost and expense of Landlord, with adjustments, except for any change orders requested by Tenant as necessary, provided below. Landlord shall request its contractor to take into account, among other things; (a) changes in all reasonable precautions to avoid any material interference with Tenant’s operations at the lending environment, Demised Premises. (b) prevailing interest rates, (c) changes in Tenant’s creditworthiness, (d) the nature of the new space as compared to the nature of the space pursuant to the original Lease (e.g. portion of the Premises designated as office space and lab space), and (e) the relative cost Upon completion of the construction of Landlord’s Work, Landlord shall assign to Tenant any warranties or guarantees which Landlord received with respect to Landlord’s Work, and Tenant shall look solely to such expansion spacewarranties or guarantees if there are any defects in Landlord’s Work. All Upon completion of the Tenant’s Work, Tenant shall assign to Landlord all warranties or guarantees which Tenant received with respect to Tenant’s Work. The foregoing assignments shall be at partial assignments and shall not preclude Landlord and Tenant from continuing to enforce such warranties or guaranties in their own name with respect to Landlord’s Work and Tenant’s Work, respectively. (c) Tenant shall be solely responsible for the cost and expense to complete Tenant’s Work, and at Tenant shall indemnify and hold Landlord harmless from any and all liabilities, liens, claims, damages or obligations (including reasonable attorneys’ fees) which are incurred by or asserted against Landlord as a result of or in connection with Tenant’s Work. In no cost event shall any delay in the completion of Tenant’s Work result in a delay in the Expansion Commencement Date, as defined below. Landlord shall indemnify and hold Tenant harmless from any and all liabilities, liens, claims, damages or expense to obligations (including reasonable attorneys’ fees) which are incurred by or asserted against Tenant as a result of or in connection with Landlord. Any right of expansion is personal to Tenant and its permitted assignees and cannot be assigned to any other person notwithstanding any assignment of this Lease’s Work. (1d) Capitalized The commencement date of this Lease for the Additional Improvements (the “Expansion Commencement Date”) shall be upon the substantial completion of Landlord’s Work. Upon substantial completion of Landlord’s Work, Landlord and Tenant shall jointly prepare a punch list of defective or uncompleted items and Landlord shall diligently pursue completion of the punch list. Landlord shall use all reasonable efforts to substantially complete Landlord’s Work by July 31, 1996; subject to force majeure and delays caused by Tenant; provided, however, that Tenant’s sole remedy for failure to substantially complete Landlord’s Work by July 31, 1996 shall be to extend the Expansion Commencement Date until Landlord’s Work is substantially complete. From and after the Expansion Commencement Date, Tenant shall be obligated to pay Basic Rent for the Additional Improvements in accordance with the schedule set forth below, all references in the Lease to the “Building” shall specifically include the Additional Improvements and Tenant’s use and occupancy of the Additional Improvements shall be on the same terms used herein but not defined herein shall have the meanings ascribed such terms and conditions as provided for in the Lease. All references in the Lease to the “Improvements” following the Expansion Commencement Date shall be deemed to include the Additional Improvements. (e) If Tenant desires any changes to Landlord’s Work (a “Change Order”), Tenant shall be solely responsible for any increased costs associated with the Change Order, together with a fee equal to which reference should be madeten percent (10%) of the increased cost (collectively, the “Change Order Cost”) represented by the Change Order. Article Tenant shall pay Landlord the Change Order Cost within ten (10) days following written demand therefor and Section references herein are failure to do so shall constitute a monetary default under the Lease. LEASE PROVISION REGARDING RIGHT OF FIRST REFUSAL(2)If any Change Order causes a delay in the substantial completion of Landlord’s Work, the Expansion Commencement Date shall occur on the date that Landlord’s Work would have been substantially completed but for the Change Order in question. (f) The Basic Rent for the Additional Improvements shall be as follows: Expansion Commencement Date - July 31, 1996 $ 124,750.00 $ 10,395.83 August 1, 1996 - July 31, 1997 127,245.00 10,603.75 August 1, 1997 - July 31, 1998 135,977.50 11,331.46 August 1, 1998 - July 31, 1999 139,969.50 11,664.13 August 1, 1999 - July 31, 2000 139,969.50 11,664.13 August 1, 2000 - July 31, 2001 146,955.50 12,246.29 August 1, 2001 - July 31, 2002 151,446.50 12,620.54 August 1, 2002 - July 31, 2003 155,937.50 12,994.79 August 1, 2003 - July 31, 2004 159,929.50 13,327.46 August 1, 2004 - July 31, 2005 165,418.50 13,784.88 August 1, 2005 - July 31, 2006 170,408.50 14,200.71 August 1, 2006 - July 31, 2007 175,398.50 14,616.54 August 1, 2007 - July 31, 2008 180,638.00 15,053.17 August 1, 2008 - July 31, 2009 186,127.00 15,510.58 August 1, 2009 - July 31, 2010 191,865.50 15,988.79 (g) The Basic Rent for the Additional Improvements shall be the amount set forth in the above table, regardless of the actual gross leasable area of the Additional Improvements.

Appears in 1 contract

Sources: Lease (Gc Net Lease Reit, Inc.)

Expansion. Provided no Events of Default are uncured Landlord and continuing after applicable notice Tenant covenant and cure periods and that Tenant satisfies the Financial Condition at the time of its election hereunder, Tenant shall have the right to cause Landlord to expand the Building, add additional building(s) to the Leased Land and/or add parking spaces to the Premises. Landlord hereby agrees to not develop the Land in any manner that would prevent or materially limit Tenant’s ability to expand the Building or build additional buildings or improvements on the Leased Land. At Tenant’s request, Landlord shall cooperate in good faith with Tenant to accommodate any expansion needs that Tenant may have and to develop plans to expand the Building, add additional building(s) to the Leased Land and/or add parking spaces to the Premises, provided that the parties can reasonably agree upon terms for expansion including a reasonable lease constant to provide a return to Landlord on its additional investment. Any agreement with respect to expansion space shall be on economic terms that are materially consistent with this Lease, with adjustments, as necessary, to take into account, among other things; (a) changes in the lending environment, (b) prevailing interest rates, (c) changes in Tenant’s creditworthiness, (d) the nature of the new space as compared to the nature of the space pursuant to the original Lease (e.g. portion of the Premises designated as office space and lab space), and (e) the relative cost of the construction of such expansion space. All of the foregoing shall be at Tenant’s cost and expense and at no cost or expense to Landlord. Any right of expansion is personal to Tenant and its permitted assignees and cannot be assigned to any other person notwithstanding any assignment of this Lease.follows: (1) Capitalized terms used herein Landlord reserves the right to make changes in and to alter the Building, automobile parking areas, and other Common Areas, and this right shall include the right to elevate or multipledeck or to provide underground parking facilities. This may mean all or a portion of Tenants view may be blocked, and if such occurs, Tenant consents to same without any right to compensation. In no event shall Landlord be required to maintain any specific parking building ratio for any automobile parking areas. (2) With respect to any premises adjoining or adjacent to the Building which Landlord may now own or henceforth acquire, by deed, easement contract, license or otherwise Landlord expressly reserves unto itself, its successors and assigns, the right (but not defined herein Landlord, its successors and assigns shall have no obligation) to develop, dedicate, finance, improve, lease, manage, operate and/or convey the meanings ascribed such terms adjoining or adjacent premises, or any part thereof, for whatever use or purpose Landlord or Landlord's successors or assigns shall deem appropriate, including, without limitation, the use thereof for expansion of the Building; and this Lease shall not be construed to limit Landlord's rights, or to restrict the use of said adjoining or adjacent premises or any part thereof. The foregoing provisions of this paragraph shall not be construed to give Tenant any rights in common areas within any of the adjoining or adjacent premises, including without limitation, any rights in the Leaseparking areas that might be provided in adjoining or adjacent premises. (3) No such permitted change, alteration, addition to which reference should be madeor consolidation of the Building, including without limitation, the performance of all construction and/or excavation required thereof, shall invalidate this Lease or affect Tenants' obligation under any provision hereof and tenant agrees to ratify and approve the modified Building Plan, if any, in writing. Article and Section references herein are Tenant expressly waives all claims for inconvenience, interruption and/or loss of Tenants' business or other damage due to such permitted change, alteration, addition or consolidation, unless caused by gross negligence by the Lease. LEASE PROVISION REGARDING RIGHT OF FIRST REFUSAL(2)Landlord.

Appears in 1 contract

Sources: Office/Surgical Care Center Lease Agreement (Dynacq International Inc)

Expansion. Provided no Events Tenant leases from Landlord an additional 11,656 Rentable Square Feet in Suite 700 on the 7th floor of Default are uncured the Building (the “Second Expansion Space”) as depicted on the attached Exhibit A. The Lease term for the Second Expansion Space shall commence upon April 1, 2007 (the “Second Expansion Space Commencement Date”), and continuing after applicable notice shall run concurrent with the Term of the Lease. Effective upon the Second Expansion Space Commencement Date the “Premises” shall be deemed to include the Current Premises and cure periods the Second Expansion Space for all purposes of the Lease, and will consist of a total of 52,120 Rentable Square Feet. In connection with the foregoing, Landlord agrees that Tenant satisfies may enter the Financial Condition at Second Expansion Space on or after February 17, 2007 for the time sole purpose of its election hereunderinstallation of furniture, fixtures and equipment (the “Early Entry”) provided that such Early Entry is conducted in a manner as to not unreasonably interfere with any Landlord Work occurring in or around the Second Expansion Space, and further provided that such Early Entry shall be subject to all of the terms and conditions contained in the Lease (other than the payment of Base Rent and Tenant’s Pro Rata Share of Excess Operating Expenses), including, without limitation, Tenant’s insurance and indemnity obligations as contained in this Lease. Prior to any such Early Entry, Tenant shall have provide Landlord with certificates of insurance or other evidence acceptable to Landlord evidencing Tenant’s compliance with its insurance obligations. In the right to cause event that Tenant’s Early Entry interferes with the Landlord to expand Work or otherwise disrupts Landlord’s operations or the operations of other tenants in the Building, add additional building(s) to the Leased Land and/or add parking spaces to the Premises. Landlord hereby agrees to not develop the Land in any manner that would prevent or materially limit may terminate Tenant’s ability right to expand the Building or build additional buildings or improvements on the Leased Land. At Tenant’s requestEarly Entry, Landlord shall cooperate in good faith with Tenant to accommodate and any expansion needs that Tenant may have and to develop plans to expand the Building, add additional building(s) to the Leased Land and/or add parking spaces to the Premises, provided that the parties can reasonably agree upon terms for expansion including a reasonable lease constant to provide a return to Landlord on its additional investment. Any agreement with respect to expansion space shall be on economic terms that are materially consistent with this Lease, with adjustments, as necessary, to take into account, among other things; (a) changes delay in the lending environment, (b) prevailing interest rates, (c) changes in Tenant’s creditworthiness, (d) the nature of the new space Landlord Work attributable to such Early Entry will be deemed a Tenant Delay as compared to the nature of the space pursuant to the original Lease (e.g. portion of the Premises designated as office space and lab space), and (e) the relative cost of the construction of such expansion space. All of the foregoing shall be at Tenant’s cost and expense and at no cost or expense to Landlord. Any right of expansion is personal to Tenant and its permitted assignees and cannot be assigned to any other person notwithstanding any assignment of this Lease. (1) Capitalized terms used herein but not defined herein shall have the meanings ascribed such terms provided in the Lease, to which reference should be made. Article and Section references herein are to the Lease. LEASE PROVISION REGARDING RIGHT OF FIRST REFUSAL(2)attached Work Letter.

Appears in 1 contract

Sources: Office Lease (Gainsco Inc)

Expansion. Provided no Events of Default are uncured Landlord and continuing after applicable notice Tenant covenant and cure periods and that Tenant satisfies the Financial Condition at the time of its election hereunder, Tenant shall have the right to cause Landlord to expand the Building, add additional building(s) to the Leased Land and/or add parking spaces to the Premises. Landlord hereby agrees to not develop the Land in any manner that would prevent or materially limit Tenant’s ability to expand the Building or build additional buildings or improvements on the Leased Land. At Tenant’s request, Landlord shall cooperate in good faith with Tenant to accommodate any expansion needs that Tenant may have and to develop plans to expand the Building, add additional building(s) to the Leased Land and/or add parking spaces to the Premises, provided that the parties can reasonably agree upon terms for expansion including a reasonable lease constant to provide a return to Landlord on its additional investment. Any agreement with respect to expansion space shall be on economic terms that are materially consistent with this Lease, with adjustments, as necessary, to take into account, among other things; (a) changes in the lending environment, (b) prevailing interest rates, (c) changes in Tenant’s creditworthiness, (d) the nature of the new space as compared to the nature of the space pursuant to the original Lease (e.g. portion of the Premises designated as office space and lab space), and (e) the relative cost of the construction of such expansion space. All of the foregoing shall be at Tenant’s cost and expense and at no cost or expense to Landlord. Any right of expansion is personal to Tenant and its permitted assignees and cannot be assigned to any other person notwithstanding any assignment of this Lease.follows: (1) Capitalized terms used herein Landlord reserves the right to make changes in and to alter the Building, automobile parking areas, and other Common Areas, and this right shall include the right to elevate or multipledeck or to provide underground parking facilities. This may mean all or a portion of Tenants view may be blocked, and if such occurs, Tenant consents to same without any right to compensation. In no event shall Landlord be required to maintain any specific parking-to-building ratio for any automobile parking areas. (2) With respect to any premises adjoining or adjacent to the Building which Landlord may now own or henceforth acquire, by deed, easement contract, license or otherwise Landlord expressly reserves unto itself, its successors and assigns, the right (but not defined herein Landlord, its successors and assigns shall have no obligation) to develop, dedicate, finance, improve, lease, manage, operate and/or convey the meanings ascribed such terms adjoining or adjacent premises, or any part thereof, for whatever use or purpose Landlord or Landlord's successors or assigns shall deem appropriate, including, without limitation, the use thereof for expansion of the Building; and this Lease shall not be construed to limit Landlord's rights, or to restrict the use of said adjoining or adjacent premises or any part thereof. The foregoing provisions of this paragraph shall not be construed to give Tenant any rights in common areas within any of the adjoining or adjacent premises, including without limitation, any rights in the Leaseparking areas that might be provided in adjoining or adjacent premises. (3) No such permitted change, alteration, addition to which reference should be madeor consolidation of the Building, including without limitation, the performance of all construction and/or excavation required thereof, shall invalidate this Lease or affect Tenants' obligation under any provision hereof and tenant agrees to ratify and approve the modified Building Plan, if any, in writing. Article and Section references herein are Tenant expressly waives all claims for inconvenience, interruption and/or loss of Tenants' business or other damage due to such permitted change, alteration, addition or consolidation, unless caused by gross negligence by the Lease. LEASE PROVISION REGARDING RIGHT OF FIRST REFUSAL(2)Landlord.

Appears in 1 contract

Sources: Hospital Lease Agreement (Dynacq International Inc)