Expansion Term definition

Expansion Term means, with respect to any Incremental Expansion, the period of ten (10) Contract Years beginning on the In-Service Date of the Compression Facilities for such Incremental Expansion and continuing Contract Year to Contract Year thereafter subject to termination by either Party on the tenth (10th) anniversary of such In-Service Date or on the last Day of any Contract Year thereafter by giving at least [***] ([***]) Days’ prior written notice to the other Party.
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Expansion Term is hereby defined to be and to mean that period of time commencing on the Expansion Commencement Date and expiring on the Expiration Date.
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Expansion Term shall commence on February 1, 2020 (i.e., upon the Tranche Lease Commencement Date for the Suite 150 portion of the 12790 Premises), and shall continue until the earlier of (a) July 31, 2031, and (b) the last day of the calendar month in which the one hundred twenty-seventh (127th) monthly anniversary of the Tranche Lease Commencement Date applicable to the KM Tranche portion of the 12790 Premises occurs (the “Expansion Term Expiration Date”), unless extended or sooner terminated as provided in the Lease, as hereby amended. The parties acknowledge that the Expansion Term Expiration Date is anticipated to be July 31, 2031, based upon an anticipated Tranche Lease Commencement Date of July 1, 2021 for the corresponding portion of the 12790 Premises. For purposes of this Third Amendment, the term "Expansion Year" with respect to each tranche of the 12790 Premises shall mean each consecutive twelve (12) calendar month period during the Expansion Term; provided, however, that the first Expansion Year shall commence on the applicable Tranche Lease Commencement Date for the applicable portion of the 12790 Premises and end on the last day of the month in which the first anniversary of such Tranche Lease Commencement Date occurs (or if the applicable Tranche Lease Commencement Date is the first day of a calendar month, then the first Expansion Year shall commence on the applicable Tranche Lease Commencement Date and end on the day immediately preceding the first anniversary of the applicable Tranche Lease Commencement Date), and the second and each succeeding Expansion Year shall commence on the first day of the next calendar month; and further provided that the last Expansion Year shall end on the Expansion Term Expiration Date.
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Examples of Expansion Term in a sentence

  • With respect to the Expansion Space during the Expansion Term, Tenant shall pay for Tenant’s Share of Expenses and Taxes in accordance with the terms of the Lease.

  • With respect to the Suite 290 Expansion Space during its Expansion Term, Tenant’s Share shall be 1.1432%.

  • With respect to the Suite 400 Expansion Space during its Expansion Term, Tenant’s Share shall be 14.8164%.

  • With respect to the Expansion Space during the Expansion Term, the schedule of Base Rent shall be as follows: Period During Expansion Term Annual Rate Per Square Foot (rounded to the nearest 100th of a dollar) Monthly Base Rent Expansion Effective Date through 3/31/17 $37.08 $56,871.45 4/1/17 — 3/31/18 $38.19 $58,573.91 All such Base Rent shall be payable by Tenant in accordance with the terms of the Lease.

  • With respect to each Expansion Space during its Expansion Term, Tenant shall pay for Tenant’s Share of Expenses and Taxes in accordance with the terms of the Lease; provided, however, that, with respect to each Expansion Space during its Expansion Term, the Base Year for Expenses and Taxes shall be 2014.

  • With respect to the Suite 320 Expansion Space during its Expansion Term, Tenant’s Share shall be 7.6741%.

  • With respect to the Suite 510 Expansion Space during its Expansion Term, Tenant’s Share shall be 2.6450%.

  • Such fractional month shall be added to the first year of the New Expansion Term.

  • Notwithstanding any contrary provision of the Lease, no re-measurement of the Premises and/or the Building by Landlord shall affect the amount of Base Rent payable for, the determination of Tenant’s Share with respect to, or the amount of any tenant allowance applicable to, the Applicable Term or any Expansion Term.

  • With respect to the Suite 600 Expansion Space during its Expansion Term.


More Definitions of Expansion Term

Expansion Term means the period between the -------------- Expansion Date and the Lease Termination Date.
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Expansion Term means the ten (10) year period commencing upon Substantial Completion of the Expanded Improvements and continuing through the last day of the calendar month ten (10) years after the date of such Substantial Completion.
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Expansion Term shall be the period beginning on the Expansion Commencement Date and continuing through the Expansion Termination Date.
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Expansion Term is hereby defined to be and to mean that period of time commencing on the Thirteenth Amendment Commencement Date and expiring contemporaneously with the Lease on the Expansion Expiration Date (i.e., January 31, 2028), as defined in Section 2(c) of the Ninth Amendment.
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Expansion Term. Expansion Term shall have the meaning set forth in Section 34.3.
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Related to Expansion Term

  • Extension Term means the time period defined in §2.C.

  • Expansion Space means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.

  • Extended Term shall have the meaning given such term in Section 2.4.

  • Base Term Beginning (i) with respect to the Original Premises on the Commencement Date, and (ii) with respect to the Expansion Premises on the Expansion Premises Commencement Date, and ending with respect to the entire Premises on August 31, 2024.”

  • Renewal Term has the meaning set forth in Section 2.

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Lease Term means the term of this Lease which shall commence on the Commencement Date and continue for the period specified in Section J of the Summary.

  • Commercial Premises Means a place of trade or premises operated for financial gain, including but not limited to, a retirement village or a block of flats that has a common facility; a place of trade where the manufacture and production of products or produce takes place; a site where renovation, restoration and refurbishment work as described in Appendix B takes place.

  • Rent Commencement Date means [Insert date or description] or any later date calculated in accordance with paragraph 3.3 of Part 5 of the Schedule;

  • Option Term means a period, if any, through which this Agreement may be or has been extended by the JBE.

  • Expansion means the addition of buildings, structures, machinery or equipment for purposes of increasing production capacity.

  • Commencement Date means the date of this Agreement.

  • Net Rentable Area means, with respect to any Real Estate, the floor area of any buildings, structures or other improvements available for leasing to tenants determined in accordance with the Rent Roll for such Real Estate, the manner of such determination to be reasonably consistent for all Real Estate of the same type unless otherwise approved by the Administrative Agent.

  • Base Rental means the sum of Seven Hundred Nineteen Thousand Two Hundred Sixty-Eight and NO/100 Dollars ($719,268.00), payable by Tenant to Landlord in sixty (60) monthly installments as follows:

  • Expansion Project has the meaning set forth in Section IV.3.a of this Agreement.

  • residential premises means a house, building, structure, shelter, or mobile home, or portion thereof, used as a dwelling, home, residence, or living place by 1 or more human beings. “Residential premises” includes an apartment unit, a boardinghouse, a rooming house, a mobile home, a mobile home space, and a single or multiple family dwelling, but does not include a hotel, a motel, motor home, or other tourist accommodation, when used as a temporary accommodation for guests or tourists, or premises used as the principal place of residence of the owner and rented occasionally during temporary absences including vacation or sabbatical leave.

  • Net Rent means all rental Landlord actually receives from any reletting of all or any part of the Premises, less any indebtedness from Tenant to Landlord other than Rent (which indebtedness is paid first to Landlord) and less the Re-entry Costs (which costs are paid second to Landlord).

  • Second Extension Period means a period of twelve (12) consecutive months following the First Extended Maturity Date.

  • Original Term means the period from the Commencement Date until the end of the fiscal year of Lessee in effect at such Commencement Date.

  • Storage Space means a space where goods of non-hazardous nature are stored and includes cold storage and banking safe vaults;

  • Loan Commencement Date means, with respect to each Loan, the first Business Day of the calendar month following the Funding Date of such Loan.

  • Renewal Period “Buyer” and “Default” have the same meanings respectively as they have in the Water Agreement.

  • industrial premises means any place or premises (not being a private dwelling house), including the precincts thereof, in which or in any part of which any industry, trade, business, occupation or manufacturing is being ordinarily carried on with or without the aid of power and includes a godown attached thereto;

  • Base Rent As defined in Section 3.1.

  • Lease Commencement Date has the meaning specified in Section 3.2 of the Master Lease.

  • First Extension Period means a period of twelve (12) consecutive months following the Initial Maturity Date.