Option for Additional Space. A. (i) Subject to the provisions of this Article, Tenant shall have the option to lease from Landlord the balance of the space on the fifth (5th ) floor of the Building ("Additional Space") at the expiration of the existing space leases for such Additional Space which is currently leased and at the expiration of the initial space leases for such Additional Space which is currently vacant, subject in either event, to Landlord’s right to renew such leases, the existing rights of existing tenants and the requirements of tenants leasing more than 14,220 rentable square feet. If the term of this lease shall be in full force and effect on the expiration or termination date of the existing space leases for such Additional Space which is currently leased and at the expiration of the initial space leases for such Additional Space which is currently vacant, subject to Landlord’s right to renew such leases, the existing rights of existing tenants and the requirements of larger tenants, and the date upon which Tenant shall exercise the option hereinafter referred to, Tenant shall have the option to lease all, but not less than all of the Additional Space on an as-is basis, provided Tenant gives Landlord written notice of such election within 10 business days after Tenant shall receive Landlord's notice that such Additional Space is available for leasing to Tenant. If Tenant fails or refuses to exercise this option within the time period set forth above (time being of the essence), then and in such event Tenant shall have no further rights under this Section with respect to such Additional Space. If Tenant shall elect to lease all or any portion of the Additional Space (a) the Additional Space shall be deemed incorporated within and part of the Demised Premises on the date Landlord shall notify Tenant that such Additional Space is ready for occupancy by Tenant, (b) the fixed rent payable pursuant to Section 3.01 shall be increased by an amount such that during the balance of the term of this lease the fixed rent for each square foot of Rentable Area in the Additional Space shall be at the then fair market rent which sum shall be determined in the manner set forth in Section (ii), plus Electric Rent pursuant to Article 21, (c) Tenant's Proportionate Share shall be proportionately increased, (d) the number of parking spaces available to Tenant pursuant to Article 16 shall be increased by three (3) spaces per 1,000 square feet of Rentable Area in the Additional Space, and...
Option for Additional Space. If the LESSEE is then current in all payments and is not then in breach or default of this Lease, LESSEE shall have the option to rent an additional 1,000 square feet of space, any time during the initial Term of the Commercial Lease and any extensions exercised by the LESSEE under Paragraph 25 of said Lease, but subject to the LESSOR’S rights as provided in Paragraph 3 below. The additional 1,000 square feet is highlighted in yellow on the attached Exhibit “A”. The LESSEE shall exercise this option by giving the LESSOR written notice of the date on which the LESSEE shall take occupancy of the additional space. The LESSOR shall sign the notice and return a copy to the LESSEE; and as of that date, the Commercial Lease shall be considered as amended to reflect the following changes:
Option for Additional Space. Lessee shall have the option to lease up to an additional 1,172 square feet of classroom area identified in Exhibit A area and located within the Building(the “Additional Classroom Space”). Lessee can exercise such option only by providing written notice to Lessor on or before that date which is sixty days following the Effective Date of this Lease. The Rent for leasing area within this Additional Classroom Space shall be increased pursuant to the amount set forth in Section 5.B (Rent). If the option for Additional Classroom Space is duly exercised, then Xxxxxx’s obligations concerning this space shall otherwise be subject to all of the terms and conditions as set forth in this Lease, and the term for such space shall expire at the Expiration Date.
Option for Additional Space. Provided this Lease is in full force --------------------------- and effect with no delinquencies or defalcations of any kind hereon, by the Tenant, Tenant shall have and is hereby granted the first right to lease any space which becomes available in the Building. Landlord shall endeavor to have all future leases have no less than a 6-month notice of intent to vacate. Upon Landlord's receipt of notice of intent to vacate or other notice that a lease will terminate, Landlord shall within 15 days give written notice of the same to Tenant. In the event Tenant elects to lease the additional space, it shall be on the same square footage price as provided herein on the Premises plus any percentage adjustment for Additional Rent. Notice exercising such option or options shall be given to Landlord in writing not later than fifteen (15) days after receipt of Landlord's notice of the availability of additional space.
Option for Additional Space. Provided this Lease is in full force and effect with no delinquencies or defalcations of any kind by Lessee hereunder, Lessee shall have and is hereby granted an option to lease all or any portion of the space in any addition to the Building. Rent for the space shall be the current market rate for similar space in similar buildings. Prior to listing space in an addition to the Building with a broker, Lessor shall give Lessee written notice that such space will be available and the rate or rates for such space. Lessee shall have a period of thirty (30) days after receiving written notice from Lessor within which to exercise its option to rent the space in the addition to the Building. If Lessee exercises its option to rent all or any portion of the space in the addition, Lessee shall give Lessor written notice of its exercise, specifying the amount of space that Lessee desires to lease. Thereafter, the parties shall enter into a lease for such space for a term of not less than ten (10) years on the same general covenants and conditions as set forth in the Lease and this Amendment. If Lessee does not exercise its option to lease any of the space in the addition, Lessee's option shall terminate, and Lessor may lease the space in the addition to one or more tenants on such terms and conditions as Lessor determines.
Option for Additional Space. Per the terms of their Lease, Hunter Industries has First Right of Refusal for additional space in Bldg. 0000 Xxxx Xxxxxx Xxxxx. Xx Hunter Industries refuses the space, or additional space is available, Lessee then has the Right of Refusal for space in Bldg. 0000. Xxon notification of Right of Refusal by Lessor, Lessee has five (5) business days to negotiate and accept or refuse the space. If Lessee refuses the space, Lessor has the right to market and lease the space to any prospective tenant, For a period of thirty (30) days from the date Lessee refuses the space, if Lessor offers the space to a prospective tenant at a rate lower than the offer to Lessee, Lessor must present same offer to Lessee. Lessee has three (3) business days to accept or refuse said offer.
Option for Additional Space. Subject to third parties’ rights to sublease the must-take space segments, at any time prior to the must-take periods, Sublessee shall have the option to take the next must-take segment by giving Sublessor not less than 15 days prior written notice.
Option for Additional Space. 30.1 Should the remainder of the Plant Site not included within the Premises composed of approximately 204,000 feet ever be vacated by its current tenant (Advanced Ceramics Corporation) or any future tenant, Tenant shall have the first right and option to lease that additional space on similar terms and conditions as may be in effect under this Lease during that then current term. Rent shall be determined based on a breakdown of the tenant's then current rent divided by 207,000 square feet to arrive at a per square foot rental rate. Tenant may then rent such additional space within the Plant Site at that rate and this Lease shall be amended to include that additional space. For example, should the current tenant vacate the property on the fifth (5th) year of Tenant's first term, the rent for the additional space should be calculated as follows:
Option for Additional Space. (a) At any time after the end of the first anniversary date of this lease, when the lease of the current Tenant which is occupying the Offer Space, as described below, is scheduled to terminate, Tenant shall have a one-time right to request in writing (the “Notice of Interest”) to Landlord to lease to Tenant space that is contiguous to the Premises on the eighth (8th) floor of the Building (the “Offer Space”), provided, however, that such right is subordinate to existing tenants in the Building and all extension, expansion or option rights of such tenants of the Building (as of the date of this Lease).
Option for Additional Space. 38 36. BUILDING RECEPTION AREA.......................................... 41 37.
