Common use of Expansion Clause in Contracts

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, chargeable to Tenant, its agents, employees or independent contractors; or

Expansion. Effective As used herein, “Expansion Premises” shall mean the increment of space commonly known as Suite D in the building located at ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ consisting of approximately 2,850 square feet more particularly shown on the attached Exhibit #1. The Expansion Premises shall be added to the Existing Premises on July 1, 2013 and shall remain a portion of the “Premises” (as defined below) throughout the Expansion Term (as defined below). Landlord estimates that possession of the Expansion Effective Date Premises will be tendered to Tenant on July 1, 2013 (as hereinafter definedthe “Estimated Delivery Date”), 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 is unable 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 tender possession of the Expansion Space Premises to Tenant by the Estimated Delivery Date, then: (a) the validity of this Amendment shall not be affected or impaired thereby; (b) Landlord shall not be in default hereunder or be liable for damages therefor; and (c) Tenant shall accept possession of the Expansion Premises on the date when Landlord tenders possession thereof to Tenant. As of July 1, 2013, the definition of “Premises” in the Basic Lease Information of the Lease shall be modified to provide that the “Premises” consists of 9,658 square feet (the combined Existing Premises and the Expansion Premises shall hereafter be referred to as the “Premises”). The Expansion Premises shall remain a portion of the “Premises” throughout the Term of the Lease. As used herein, the “Expansion Term” shall mean the period starting on July 1, 2013 and ending on August 31, 2015. Tenant shall accept the Expansion Premises in their “as is” state and condition and Landlord shall have no obligation to make or pay for any reason prior improvements or renovations in or to substantial completion of the Landlord's work; or, except as required during construction; or 8. Any other delay, except as approved by Landlord, chargeable Expansion Premises or to otherwise prepare the Expansion Premises for Tenant, its agents, employees or independent contractors; or’s occupancy.

Expansion. Effective as of the Expansion Effective Date (as hereinafter defined), the Premises is increased from 11,357 15,240 rentable square feet on the 16th third (3rd) floor to 15,017 19,043 rentable square feet described as Suite No(s). 1616 and 1625 on the 16th third (3rd) floor by the addition of the Expansion Space. The lease Lease 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 (which are non-remedial in nature, e.g., other than abatement due to condemnation, casualty, etc.) 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 earlier to occur of (i) April 15December 27, 1994 1996 ("Target Expansion Effective Date"), or and (ii) the date upon which Landlord's improvement work in the Expansion Space (the "Landlord Work") has been substantially completed; provided, however, that if Landlord shall be delayed in substantially completing the Landlord's work Landlord 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 reasonably requested or to respond to any reasonable 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 specificationsspecifications mutually agreed by Landlord and Tenant; 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 workLandlord Expansion 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 constructionLandlord Expansion Work; or 8. Any other delay, except as approved by Landlord, delay chargeable to Tenant, its agents, employees or independent contractorscontractor; or 9. Any other cause reasonably beyond Landlord's control; then, for purposes of determining the Expansion Effective Date, the date of substantial completion shall be deemed to be the day that said Landlord Work would have been substantially completed absent any such Delay(s); provided, however, the Expansion Effective Date shall in no event be later than December 27, 1996. Notwithstanding anything herein to the contrary, the Expansion Effective Date will be deferred beyond December 27, 1996 to the extent substantial completion occurs thereafter due to Landlord fault or delay or contractor fault or delay in completing Landlord Work beyond the date submitted in contractor s bid for construction. The Expansion Space shall be deemed to be substantially completed on the date that Landlord's architect reasonably determines that all Landlord Expansion Work has been performed (or would have been performed absent any Delays), other than any details of construction, mechanical adjustment or any other matter, the noncompletion of which does not materially interfere with Tenant's use of the Expansion Space. The adjustment of the Expansion Effective Date, if any, and, accordingly, the postponement of Tenant's obligation to pay Rent on the Expansion Space, shall be Tenant's sole remedy and shall constitute full settlement of all claims that Tenant might otherwise have against Landlord by reason of the Expansion Space not being ready for occupancy by Tenant on the Target Expansion Effective Date. B. As of the date of execution of this Second Amendment, the Expansion Space is occupied by Railcar, Ltd., an affiliate of Tenant. Landlord is negotiating with Railcar, Ltd. to relocate it to other space in the Building. The parties hereto agree that if Landlord fails to deliver the Expansion Space on or before the Target Expansion Effective Date as a result of continued occupancy of the Expansion Space by Railcar, Ltd., such delay shall not delay the Expansion Effective Date nor shall it subject Landlord to any liability for any loss or damage resulting therefrom; provided however, Tenant shall have no obligation to pay rental on the Expansion Space so long as Railcar, Ltd. is paying rental thereon.

Expansion. Effective as As of the Expansion Effective Date (as hereinafter defined), the Premises Premises, as defined in the Lease, is increased from 11,357 3,585 rentable square feet on the 16th floor level forty-two (42) to 15,017 5,135 rentable square feet described as Suite No(s). 1616 and 1625 on the 16th floor level forty-two (42) 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 lease term Lease 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. A. The Expansion Effective Date shall be the later to occur of (i) April 151, 1994 1998 ("Target Expansion Effective Date"), or and (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, delay chargeable to Tenant, its agents, employees or independent contractors; orthen, for purposes of determining the Expansion Effective Date, the date of substantial completion shall be deemed to be the day that said Landlord's work would have been substantially completed absent any such Delay(s). The Expansion, Space shall be deemed to be substantially completed on the date the Landlord reasonably determines that all Landlord's work has been performed (or would have been performed absent any Delays), other than any details of construction, mechanical adjustment or any other matter, the noncompletion of which does not materially interfere with Tenant's use of the Expansion Space. The adjustment of the Expansion Effective Date and, accordingly, the postponement of Tenant's obligation to pay Rent on the Expansion Space shall be Tenant's sole remedy and shall constitute full Settlement of all claims that Tenant might otherwise have against Landlord by reason of the Expansion Space not being ready for occupancy by Tenant on the Target Expansion Effective Date. B. In addition to the postponement, if any, of the Expansion Effective Date as a result of the applicability of Paragraph I.A. of this Amendment, the Expansion Effective Date shall be delayed to the extent Landlord fails to deliver possession of the Expansion Space for any other reason (other than Delays by Tenant), including but not limited to, holding over by prior occupants. Any such delay in the Expansion Effective Date shall not subject Landlord to any liability for any loss or damage resulting therefrom. If the Expansion Effective Date is delayed, the Extended Termination Date (as hereinafter defined) shall be similarly extended.

Expansion. Effective as (a) Seller represents that Seller has received all permits and approvals required by the municipal, county, and state authorities, bureaus or agencies having jurisdiction (collectively, the “Governmental Authorities”) relating to the construction of a single-story, non-climate controlled building of approximately 7,300 square feet in or about that area marked “Proposed Expansion Area” on Exhibit B (the “Expansion”), subject to submission of stamped, final drawings to the Town of ▇▇▇▇▇▇▇▇▇ for such Town’s review and approval. (b) Prior to the Feasibility Study Termination Date, Buyer shall solicit bids for the Expansion construction project from two (2) or more contractors. Within three (3) days after selecting an Expansion contractor, Buyer shall provide Seller with the name of, and contact information for, Buyer’s selected Expansion contractor (“Buyer’s Contractor”). Seller, at Seller’s sole cost and expense, shall: (i) promptly submit to the Governmental Authorities all materials required in connection with the Expansion and, among such materials, provide the Governmental Authorities with the name of, and contact information for, Buyer’s Contractor; (ii) diligently pursue all necessary approvals, licenses and permits associated with the Expansion (collectively, “Expansion Permits and Approvals”) from the Governmental Authorities; and (iii) sign, execute and deliver any and all documents that may be reasonably necessary or appropriate to obtain Expansion Permits and Approvals. (c) Notwithstanding anything herein to the contrary, for purposes of this Agreement, the requisite Expansion Permits and Approvals shall be deemed to have been obtained only upon satisfaction of the following requirements (the “Requirements”): (i) issuance of a building permit for the Expansion by the applicable Governmental Authority; (ii) the expiration of the period within which appeals from the Governmental Authorities’ actions can be filed without the filing of any such appeal; and (iii) each of the Expansion Effective Date Permits and Approvals being in a form fully assignable to Buyer (as hereinafter defineddetermined by Buyer in its sole discretion). Seller shall notify Buyer not less than three (3) days in advance of any public meeting, conference or hearing with governmental officials in connection with the Expansion. (d) In the event Seller is unable to obtain all Expansion Permits and Approvals prior to the Closing Date, the Premises is increased from 11,357 rentable square feet on parties shall proceed to Closing, but the 16th floor to 15,017 rentable square feet described as Suite No(s). 1616 and 1625 on Purchase Price shall be reduced by FIFTY THOUSAND DOLLARS ($50,000) (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 definedAllocation”). The Expansion Space is subject Allocation shall be held in escrow by the Title Company. In the event that, on or after the Closing Date, Seller obtains all Expansion Permits and Approvals, the Title Company shall release the Expansion Allocation to Seller within three (3) business days following the date that Seller assigns all the terms Expansion Permits and conditions of the Lease except as expressly modified herein and except that Tenant shall not be entitled Approvals to receive any allowances, abatements or other financial concessions granted with respect Buyer. (e) Notwithstanding anything 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 contrary contained herein, if Buyer becomes aware that (i) April 15, 1994 ("Target Expansion Effective Date"), Seller’s representation in Section 15(a) is inaccurate or (ii) it is impracticable for Seller to satisfy the Requirements or (iii) Seller is in default under this Paragraph 15, then Buyer shall promptly provide written notice thereof to Seller (the “Buyer’s Notice”). Buyer shall have all rights at law and in equity to enforce this Paragraph 15 unless Seller, within forty-five (45) days after the date upon which Landlord's improvement work of the Buyer’s Notice, (A) cures any breach or default referenced in the Buyer’s Notice, (B) obtains all Expansion Space has been substantially completed; provided, however, that if Landlord Permits and Approvals and (C) assigns all Expansion Permits and Approvals to Buyer. In no event shall be delayed Buyer recover more than $50,000 in substantially completing the Landlord's work in the Expansion Space damages 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 Seller breach or default by Tenant in the performance of Tenant's obligations under this Amendment Paragraph 15. (f) Notwithstanding anything herein to the contrary, if Seller, using diligent efforts, fails to obtain all Expansion Permits and Approvals within sixty (60) days after the later of (I) the Closing Date or (II) that date which Buyer provides Seller with the Lease; or 7. Any delay resulting from Tenant's having taken possession of name and contact information for Buyer’s Contractor, Buyer shall have the right to itself pursue any outstanding Expansion Permits and Approvals and the Expansion Space for any reason prior Allocation shall be released to substantial completion of the Landlord's work; or, except as required during construction; or 8Buyer. Any other delay, except as approved by Landlord, chargeable to Tenant, its agents, employees or independent contractors; orThis Paragraph 15 shall survive Closing.