Option to Expand. Provided Tenant is occupying 80% of Premises for its own use, Tenant may expand into the additional space as follows: Expansion One: -------------- Effective: 11/1/00 Notice: 11/l/99 Size: 5,000 sf on the 18th floor as highlighted on Exhibit A-3 (see attached). LL may change the size (not to decrease by more than 20% or increase) in a manner reasonably satisfactory to Tenant upon notice by 3/l/00 Rent: Same rate/sf as for existing Premises Improvement Allowance: $25.00/sf with up to $4.25/sf applied as outlined on page 2 of abstract for unspent amounts. -------------------------------------------------------------------------------- OPTIONS & ENCUMBRANCES -------------------------------------------------------------------------------- Expansion Two: -------------- Effective: 11/l/03 Notice: 11/l/02 Size: 5,000 sf on the 18th floor as highlighted on Exhibit A-3 (see attached). LL may change the size (not to decrease by more than 20% or increase more than reduction in 1st Option space) in a manner reasonably satisfactory to Tenant upon notice by 3/l/03. Rent: Same rate/sf as for existing Premises Improvement Allowance: $15.00/sf with up to $2.55/sf applied as outlined on page 2 of abstract for unspent amounts. LL may defer or accelerate the Addition Date up to 6 months upon notice at least 8 months prior to the earlier of the Accelerated Date or the stated Addition Date. LL may lease such space to another tenant for a term expiring on or before the Addition Date. LL shall not be liable to Tenant in the event of tenant holding over or other violation of the lease. Rent shall not commence on Expansion Space 1 or 2 until 8 weeks after the later of the Addition Date and the date of possession is delivered to Tenant. Skadden, Arps, Slate, Xxxxxxx & Xxxx (19th & 20th Floors) -cl2/5/88 - 4/30/2000) --------------------------------------------------------------------------------
Option to Expand. (Notification Date has elapsed) Provided Tenant occupies the entire Premises as of the Addition Date, Tenant may lease any space not leased on the second floor as of the date of the Fifth Amendment. Tenant shall give notice to LL by 1/31/96. Rent shall be $14.30/sf plus a pro-rata share of operating expenses and real estate taxes. Tenant shall receive an improvement allowance equal to the product of $I5.00/sf multiplied by the number of months remaining in the term divided by 51. LL may lease the Second Floor Expansion space to another tenant and LL shall not be held liable in the event LL does not deliver possession due to a holding over, provided LL uses diligent efforts to obtain possession. If LL is unable to deliver possession of Expansion Space to Tenant on or prior to 60th day following scheduled Effective Date, and if Tenant so elects, LL shall use diligent efforts to make immediately available to Tenant temporary space for occupancy by Tenant until the 120th day following the date on which the Expansion Space is delivered to Tenant. LL shall pay all reasonable out-of-pocket costs incurred in connection with Tenant's move to the Temporary space. LL and Tenant shall execute a short term lease to govern Tenant's occupancy of such Temporary Space. No rent shall be paid by Tenant for Temporary Space. However, Tenant shall pay its pro-rata share of taxes and operating expenses on a net basis. If LL fails to deliver possession on or prior to 180th day following scheduled Effective Date, Tenant may withdraw it's exercise of expansion option by delivering written notice to LL on or before 10th day following expiration of said 180 day period. Barack, Xxxxxxxxxx, Xxxxxxxxxx & Perlaman (27th and 28th Floors) (1012/88 - --------------------------------------------------------------------------- 6/30/03) --------
Option to Expand. The option to expand provision contained in the First Amendment to Agreement as paragraph 7, page 3, is hereby deleted in its entirety.
Examples of Option to Expand in a sentence
It is further agreed that both of Tenant’s Option to Extend per paragraph 2C of the Lease and Tenant’s Option to Expand per paragraph 2D of the Lease shall be for the entire Premises and may not be exercised for less than the entire Premises.
If Tenant waives its right to lease all or a portion of the Columbia Space (either by giving written notice thereof or by failing to give any notice to Landlord within the required thirty (30) day period), this Option to Expand shall thereafter be null, void and of no further force or effect.
Provided that the Tenant did not exercise the Option to Expand in Clause 11 of this Offer to Lease and has not been in material breach of the Lease, the Tenant shall have the first opportunity to lease any space becoming available for lease that is not encumbered by another lease on the third (3rd) floor of the Building at any time during the Term of the Tenant’s Lease.
Sublandlord has not granted any third party sublease rights (or sublease expansion rights) which are superior to Subtenant’s Option to Expand.
It is hereby agreed that this Lease for the “Second Floor Expansion Space” shall be subject to both the Option to Extend granted to Tenant per paragraph 2C of the Lease and to the Option to Expand granted to Tenant per paragraph 2D of the Lease.
More Definitions of Option to Expand
Option to Expand. None. Option to Extend:
Option to Expand. (Notification Date has elapsed) Tenant has the right to expand between 2,635 and 3,525 contiguous rsf in suite 470. The occupancy date shall be between 3/l/97 -8/l/97 with 4 months prior notice. If Tenant elects to take the $7.95/sf Expansion Allowance base rent shall be $5.18/sf the first year growing at 3.65% every March 1st. If Tenant elects to take the $2.65/sf Expansion Allowance the base rent shall be the same per sf as the Premises. Pro-rata share shall be adjusted to reflect Expansion Space. Xxxxxxx and Xxxxxxx (Suite 500) (3/l/92 - 2/28/02) --------------------------------------------------
Option to Expand. Premises: 2,000 sq. ft. (the exact square footage to be determined by LL) in Building on the same floor as and contiguous to premises at a location on such floor to be designed by LL.
Option to Expand. Tenant has three (3) expansion options, as follows (Notification Dates have elapsed): First Expansion Option (independent of 2nd & 3rd ---------------------- Options) Premises: 2,842 sq. ft. on 8th floor - Effective Date: 6/l/90, 6/l/92 or 12/l/94 (first availability based upon existing tenancies) -Notice Date: 18 months prior to latest Effective Date Second Expansion Option (independent of 1st and 3rd ----------------------- Options) -Premises: 13,532 sq. ft. on 8th floor - Effective Date: 7/l/90 or 11/l/94 (first availability based upon existing tenancies) -Notice Date: 18 months prior to latest Effective Date Third Expansion Option (independent of 1st and 2nd ---------------------- Options) -Premises: 8,212 sq. ft. on 0xx xxxxx (xxxxxxx xx 0xx xxxxx) -Effective Date: 1 1/24/89 or 12/l/94 (first availability based upon existing tenancies) -Notice Date: 18 months prior to latest Effective Date All above described Expansion Options have the following terms:
Option to Expand. Premises: Same as Right of First Refusal ("ROFR") space described above (1,780 sq. ft. - 17th floor). -Available at any time during initial term, if Tenant has not waived rights to such space pursuant to ROFR above. -Tenant shall exercise by giving written notice to LL. LL shall give written notice to Tenant within 10 days following receipt of Tenant's notice setting forth the date on which LL shall deliver possession of the Option Space. -Base Rent and tenant improvements described above for the ROFR are applicable. -LL retains the right to lease Option Space to another tenant, subject to rights of Tenant pursuant to ROFR. Xxxx Xxxxxxx & Weinbere (1700 & 1800) (11/l/95 - 4/30/08) ---------------------------------------------------------
Option to Expand. (Notification Date has elapsed) Premises: Not less than 6,375. sq. ft. nor more than 8,625 sq. ft. (exact number to be determined by LL) on 29th floor, at a single location on such floor to be designated by LL.
Option to Expand. Premises: Same as Right of First Refusal ("ROFR") space described above (1,780 sq. ft. - 17th floor). - Available at any time during initial term, if Tenant has not waived rights to such space pursuant to ROFR above. - Tenant shall exercise by giving written notice to LL. LL shall give written notice to Tenant within 10 days following receipt of Tenant's notice setting forth the date on which LL shall deliver possession of the Option Space. - Base Rent and tenant improvements described above for the ROFR are applicable. - LL retains the right to lease Option Space to another tenant, subject to rights of Tenant pursuant to ROFR. Xxxx Xxxxxxx & Weinberp- (1700 & 1800) (II/l/95 - 4/30/08) ---------------------------------------------------------- (T) Put Space: Tenant shall lease approximately 3,500 sf (see attached) on the 17th floor effective 12/l/98. LL may reduce the size of the put space, but not less than 3,000 sf, provided such decrease does not destroy the contiguity to the Premises, in a way that is reasonably acceptable to the Tenant. LL shall notify Tenant by 8/l/98 as to the rentable area to be included. Rent shall be the then effective rate under the Lease and the pro-rata share shall be appropriately adjusted. Tenant shall receive an improvement allowance of $35.75/sf (up to $6.00/sf may be applied to soft costs or rent as described under Tenant Improvements on page 2). LL may lease such space to another tenant for a term ending on or prior to 9/l/98. LL shall not be liable to Tenant in the event of tenant holding over or other violation of the lease .