Right to Expand definition

Right to Expand. In addition to those rights set forth in Item 1 of the ---------------- First Addendum to Lease and during the terms that the Agreement to Lease, First Addendum to Lease, and Second Addendum to Lease are in full force and effect and further provided that the Lessee is not in default, Lessee shall have the additional right to expand into the currently occupied commercial space located at 1275 and 0000 Xxxxxx Xxx Xxxxxxx, exclusive of the Premises currently occupied by Versar, (hereinafter referred to as the "Potential Expansion Space"), should the Potential Expansion Space become vacant and available, subject to the following conditions:
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Right to Expand. During the first year (Year 1) of this Lease, Lessee shall also be entitled to the right of first refusal to expand into the contiguous space (approximately 12,500 square feet) currently occupied by KEMCO, at the same rental rate currently paid by KEMCO with three percent (3%) annual increases. Such right of first refusal must be exercised within fourteen (14) days after Lessee receives notice of Lessor's receipt of an acceptable offer to lease such space.
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Examples of Right to Expand in a sentence

  • In order to validly exercise its Right to Expand, the Tenant shall provide to the Landlord a prior written notice of its exercise thereof.

  • Pursuant to Tenant’s Right to Expand in Paragraph 6 of this Addendum, Tenant shall have the right, upon termination of SBRI’s tenancy in the Building, to lease the portion of SBRI’s premises in which Shared Facilities are located.

  • Section 2, Right of First Refusal and Section 3, Right to Expand, of the 1996 Lease are hereby deleted and replaced with the following provision as Section 3: "Tenant shall have a right of first offer to lease up to 50,000 square feet in additional space at the Premises described as Level 7-1 and shown on the attached replacement Exhibit F, subject to one terms and considerations of this section.

  • The Right to Expand described in Section D-5 set forth on Exhibit “D” attached to the Lease is of no further force or effect.

  • Tenant's declination of any of the then-available and offered Additional Premises shall not affect its right to this space in the future under Tenant's Right to Expand, nor other space which may become available pursuant to the terms hereof.

  • Section 40 of the Lease (Right to Expand) is hereby deleted in its entirety and shall have no further force or effect.

  • In the event LESSEE exercises LESSEE'S Right to Expand after the first (1st) full three (3) years of the Lease term, then LESSEE shall be responsible for any/and all costs incurred with relocating other tenants due to such Right to Expand and all construction work associated with XXXXXX'S expansion space over the term of the Lease.

  • Moreover, if Tenant defaults under this Lease at any time after it has exercised this Right to Expand the Lease Premises but before the Contiguous Available Space is added to this Lease pursuant to the terms of this Section 62.01, then such exercise shall, at Landlord's option, be deemed null and void, and neither Landlord nor Tenant shall have any further rights or obligations with respect to such exercise.

  • Except as otherwise provided for in this Section 5, Tenant shall continue to have the right to expand the Premises to include any Available Space in the Project pursuant to Section 39 of the Lease (Right to Expand).

  • In the event LESSEE exercises LESSEE'S Right to Expand during the third full year through the fifth full year then the rental for said Expansion Space shall be at the then current market rent rate.

Related to Right to Expand

  • Option to Extend has the meaning given that term in Section 2.13.

  • Right shall have the meaning set forth in the second paragraph hereof.

  • Right of Reference means the “right of reference” defined in 21 CFR 314.3(b), including with regard to a Party, allowing the applicable Regulatory Authority in a country to have access to relevant information (by cross-reference, incorporation by reference or otherwise) contained in Regulatory Documentation (and any data contained therein) filed with such Regulatory Authority with respect to a Party’s Compound, only to the extent necessary for the conduct of the Study in such country or as otherwise expressly permitted or required under this Agreement to enable a Party to exercise its rights or perform its obligations hereunder.

  • Election to Exercise shall have the meaning attributed thereto in Subsection 2.2(d).

  • Election to Foreclose Any election by the Purchaser to proceed with the Commencement of Foreclosure, made in accordance with Section 2.03(a).

  • right of access means the right to be admitted to invest in the territory of the other Contracting Party, subject to the limits resulting from international agreements binding on both Contracting Parties.

  • Notice of Intent to Cure has the meaning specified in Section 6.02(b).

  • Termination Option means the option of either party to terminate a transaction in the event that the other party fails to perform a Firm obligation to deliver Gas in the case of Seller or to receive Gas in the case of Buyer for a designated number of days during a period as specified on the applicable Transaction Confirmation.

  • right of use means any right we have to use, in our own name and on our own account or the account of another counterparty, financial instruments received by us by way of collateral under a security collateral arrangement between you and us;

  • Rights means, with respect to any Person, warrants, options, rights, convertible securities and other arrangements or commitments which obligate the Person to issue or dispose of any of its capital stock or other ownership interests.

  • Renewal Option has the meaning set forth in §12.1.

  • Terminate means the cancellation of the relationship between an insurance producer and the insurer or the termination of a producer's authority to transact insurance.

  • Extension Option shall have the meaning set forth in Section 2.5(c) hereof.

  • Termination Right have the respective meanings given in the PRA Contractual Stay Rules.

  • Summary of Rights shall have the meaning set forth in Section 3(b) hereof.

  • Opt-Out Notice has the meaning specified therefor in Section 2.02(a) of this Agreement.

  • Acceleration Right means the Participant’s right, in certain circumstances, to exercise its outstanding Option as to all or any of the Common Shares in respect of which such Option has not previously been exercised and which the Participant is entitled to exercise, including in respect of Common Shares not otherwise vested at such time;

  • Right of Others means, as to any Property in which a Person has an interest, any legal or equitable right, title or other interest (other than a Lien) held by any other Person in that Property, and any option or right held by any other Person to acquire any such right, title or other interest in that Property, including any option or right to acquire a Lien; provided, however, that (a) no covenant restricting the use or disposition of Property of such Person contained in any Contractual Obligation of such Person and (b) no provision contained in a contract creating a right of payment or performance in favor of a Person that conditions, limits, restricts, diminishes, transfers or terminates such right shall be deemed to constitute a Right of Others.

  • Indemnity Notice shall have the meaning specified in Section 9.3(b).

  • Right of First Refusal means the Company’s right of first refusal described in Section 8.

  • Notice Period has the meaning set forth in Section 5.09(e).