Option Space definition

Option Space means a portion of the Facilities not to exceed twelve percent (12%) of the “Net Rentable Square Footage” (as determined under standards established by the Building Owner Managers Association) of the Facilities to be conveyed to the State upon exercise of an option under Article 11 hereof.

Option Space means any of the First Option Space, the Second Option Space or the Third Option Space.

Option Space. (as defined in Section 18.1(B) of the Lease) is modified and amended to include the 21st Floor Option Space and the terms of Article 18 shall be applicable with respect to the 21st Floor Option Space, except that (i) clause (y) of Section 18.4(B) of the Lease shall not be applicable with respect to the 21st Floor Option Space to the effect that the Option shall not be subject to the first transaction that Landlord consummates from and after the date hereof and (ii) the reference to the “date hereof” in Section 18.4(E) of the Lease shall mean the date of this Amendment.

Examples of Option Space in a sentence

• The findings could further spark off further research based on empirical evidence – particularly research efforts on the practice of public relations in the Nigerian environment.

• Similarly, the Option Space shall not be considered available if the then current tenant of that space wishes to remain there via exercise of a renewal right or by negotiation with Landlord.

• The Rent payable under this Lease shall be increased by the amount of Rent attributable to the Option Space that is leased by Tenant.

• Landlord hereby grants Tenant the option to expand the Premises by including an additional square feet of contiguous Rentable Area as outlined in blue on Exhibit D ("Option Space") to the Premises to be effective no later than of the Lease Term; provided, however, that Tenant exercises the option to expand by written notice delivered by Tenant to Landlord no later than of the Lease Term.

• Rent for the Option Space shall be the Rent per square meter of Rentable Area in effect under this Lease at the commencement of Tenant's occupancy of the Option Space.

More Definitions of Option Space

Option Space and “Option Spaces” is defined in Section 35.01.

Option Space means all or any portion of the Available Space (hereinafter defined), as specified by Tenant in its Option Notice; provided, however, that the balance of any Available Space not designated by Tenant as option Space must be in reasonably leasable configuration. The term "Available Space" shall mean that portion of the ground floor of the Building comprising approximately 13,585 RSF which is crosshatched on Exhibit H annexed hereto.

Option Space means that portion of the ground floor of the Building which is designated as "Option Space" on Exhibit "A" annexed hereto and made a part hereof. Landlord and Tenant hereby agree that the Option Space comprises 5,930 RSF and that the Leased Premises, inclusive of the Option Space, comprises 78,086 RSF.

Option Space means the space, on the 6th floor of the Building, which is currently known and designated as Suite 630. The term “Existing Lease” shall mean the lease pursuant to which Landlord, on the date of this Lease, is leasing the Option Space to the tenant thereof.

Option Space means the any vacant space within the existing building (being approximately 64,493 square feet), not including any new building construction (i.e.; expansion of the building), that has not yet been initially leased to another tenant.

Option Space means, collectively, the 9th Floor Option Space and the 8th Floor Option Space.

Option Space shall have the meaning set forth in Section 31.19 hereof.