Expansion Space Term. On the Expansion Date, the Expansion Space shall be added as part of the Premises for all purposes, except as set forth herein, including the payment of Additional Rent. The Term of the Lease with respect to the Expansion Space shall commence on the Expansion Date and shall be coterminous with the Term of the Lease for the Original Premises and shall therefore expire on March 31, 2020, unless sooner terminated or extended pursuant to the terms of the Lease.
Expansion; Grant of Expansion Space. Effective as of that date (the Expansion Date) which is the earlier of # the date on which the Expansion Space is Substantially Complete, as defined in Exhibit C attached hereto, and ready for occupancy or # the date Tenant occupies the Premises to conduct its business therein, Landlord agrees to lease to Tenant and Tenant agrees to lease from Landlord, for the entire Term, as may be further extended, and subject to and in accordance with the terms of the Lease, an additional 2,872 rentable square feet of space as shown on Exhibit A attached hereto and by this reference made a part hereof (the Expansion Space). If Landlord is delayed in delivering possession of the Expansion Space due to any reason, including but not limited to the holdover or unlawful possession of such space by any third party, such delay shall not be a default by Landlord, render the Lease or this Amendment void or voidable, or otherwise render Landlord liable for damages; provided, however, if Landlord is unable to deliver the Expansion Space to Tenant by October 31, 2015 for reasons not caused by, or attributable to, Tenant Delay (as defined in Exhibit C attached hereto) or by a Force Majeure Delay (as defined in the Lease), Tenant may terminate this Amendment by giving notice to Landlord. As of the Expansion Date: # the Expansion Space shall be subject to all of the terms and conditions of the Lease, as amended herein, for the entire Term, as may be further extended, # all references in the Lease to the Premises shall be deemed to include the Original Premises and the Expansion Space; # the total rentable square feet of space leased pursuant to the Lease shall be 10,297 rentable square feet on the 3rd floor of the Building; and # the Premises, as so expanded, shall be collectively known as Suite 300. After the occurrence of the Expansion Date, Tenant and Landlord shall execute a certificate in the form attached hereto as Exhibit B stipulating and agreeing to, the Expansion Date.
Phase 1 Expansion Space Minimum Rent. Notwithstanding anything to the contrary in the Lease, the Minimum Rent to be applied to the Phase 1 Expansion Space shall be $12.00 per rentable square foot and shall increase by two and one-half percent (2.5%) each year upon the anniversary of the Phase 1 Rent Commencement Date as set forth in the table below:
Demolition. Promptly after the Phase 1 Expansion Space Delivery Date and during the plan approval process described above, [[Organization B:Organization]] may commence demolition activities in the Phase 1 Expansion Space, including removal and disposal of any fixtures, furniture, and equipment (FF&E) located in the Phase 1 Expansion Space as of the Phase 1 Expansion Space Delivery Date.
Upon Tenants exercise of the 14th Floor Expansion Option, Landlord and Tenant shall enter into an amendment to this Lease adding the 14th Floor Expansion Space to the Premises on all the terms and conditions set forth in this Lease as to the Premises then demised under the Lease, except that # the term of the Lease as to the 14th Floor Expansion Space shall commence on January 1, 2010, or, if later, the date the 14th Floor Expansion Space is actually delivered to Tenant, # the annual fixed rent payable by Tenant for the 14th Floor Expansion Space shall be the fair market rent for the 14th Floor Expansion Space, as set forth in Landlords Option Notification or as determined by the appraisal procedure (as applicable), # Tenants Proportionate Share for Taxes as to the 14th Floor Expansion Space and Tenants Proportionate Share for Operating Expenses as to the 14th Floor Expansion Space shall be established based on the then rentable square footage of the 14th Floor Expansion Space; # the Tax Base under [Section 4.01(b)] of the Lease as to the 14th Floor Expansion Space shall be the fiscal tax year in which the 14th Floor Expansion Space is added to the Lease, # the Operating Expense Base under [Section 4.05(c)] of the Lease as to the 14th Floor Expansion Space shall be the calendar year in which the 14th Floor Expansion Space is added to this Lease, # Tenant shall take the 14th Floor Expansion Space in its then as-is condition (unless the current fair market terms for the 14th Floor Expansion Space include a tenant improvement allowance, in which event Tenant shall receive a tenant improvement allowance for improvements to the 14th Floor Expansion Space and the annual fixed rent set forth in Landlords Option Notification shall take into account such tenant improvement allowance) and # the renewal option provided for in Article 22 of the Lease shall be inapplicable to the 14th Floor Expansion Space and the provisions of Paragraph l.d. below shall instead apply with regard to the renewal of the Lease as to the 14th Floor Expansion Space.
Offer Space. Notwithstanding anything to the contrary in this Lease, [[Organization A:Organization]] and [[Organization B:Organization]] acknowledge and agree that neither the Phase 1 Expansion Space nor the Phase 2 Expansion Space is contiguous Offer Space (as defined in the Lease) subject to the expansion rights set forth in [Article 36] of the Lease.
#[[Organization B:Organization]] acknowledges that the Expansion Space is currently occupied by another [[Organization B:Organization]]. As such, this First Addendum is contingent upon [[Organization A:Organization]] being able to deliver the Expansion Space. [Section 4D] of the Lease does not apply to [[Organization A:Organization]]’s inability to deliver the Expansion Space.
Phase 1 Expansion Space [[Organization B:Organization]] Improvements. Upon the date on which [[Organization A:Organization]] tenders delivery of possession of the Phase 1 Expansion Space to [[Organization B:Organization]] (“Phase 1 Expansion Space Delivery Date”), [[Organization B:Organization]] agrees to accept the Phase 1 Expansion Space in its “As-Is” condition and thereafter promptly complete the Phase 1 Expansion Space [[Organization B:Organization]] improvements. [[Organization A:Organization]] will use commercially reasonable efforts to cause the Phase 1 Expansion Space Delivery Date to occur on the Effective Date (the “Target Phase 1 Expansion Space Delivery Date”), to allow [[Organization B:Organization]]’s build-out to begin. If [[Organization A:Organization]] shall be unable to give possession because a certificate of occupancy or any other required certificate, permit, or variance has not been procured, or for any other reason not within the reasonable control of [[Organization A:Organization]], [[Organization A:Organization]] shall not be subject to any liability for the failure to give possession. No such failure to give possession shall in any other respect affect the validity of this Third Addendum or the obligations of [[Organization B:Organization]] hereunder, nor shall the same be construed in any way to extend the Term. Notwithstanding anything to the contrary herein, the Phase 1 Rent Commencement Date for the Phase 1 Expansion Space shall be extended by one day for each day after the Target Phase 1 Expansion Space Delivery Date that the actual Phase 1 Expansion Space Delivery Date fails to occur.
A. Plans. If it has not done so already, within fifteen (15) days after the Expansion Space Delivery Date, [[Organization B:Organization]] shall deliver to [[Organization A:Organization]] a space plan (the “[[Organization B:Organization]] Space Plan”) depicting [[Organization B:Organization]]’s desired improvements in the Expansion Space (the “[[Organization B:Organization]] Improvements”). Within five (5) business days after receipt of the [[Organization B:Organization]] Space Plan, [[Organization A:Organization]] will review and approve or disapprove the [[Organization B:Organization]] Space Plan in its reasonable discretion. If [[Organization A:Organization]] disapproves the [[Organization B:Organization]] Space Plan, it shall state with particularity the reasons for such
The Commencement Date of the Lease for the Expansion Space is September 21, 2020.
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