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Expansion Term
Expansion Term contract clause examples

Phase 1 Commencement Date. The Commencement Date of the Lease for the Phase 1 Expansion Space shall be the earlier of # receipt of a certificate of occupancy for the Phase 1 Expansion Space; or # April 1, 2022. Upon execution of this Third Addendum and [[Organization A:Organization]]’s delivery of the Phase 1 Expansion Space to [[Organization B:Organization]], the Premises (as that term is used in the Lease) shall contain 68,962 rentable square feet of Floor Area.

Source document

Phase 2 Commencement Date. The Commencement Date of the Lease for the Phase 2 Expansion Space shall be the earlier of # receipt of a certificate of occupancy for the Phase 2 Expansion Space; or # January 1, 2023. Upon execution of this Third Addendum and [[Organization A:Organization]]’s delivery of the Phase 2 Expansion Space to [[Organization B:Organization]], the Premises (as that term is used in the Lease) shall contain 90,435 rentable square feet of Floor Area.

Source document

Phase 1 Rent Commencement Date. Except as otherwise provided in the Lease, the Phase 1 Rent Commencement Date for the Phase 1 Expansion Space shall be April 1, 2022. Beginning on the Phase 1 Rent Commencement Date, Minimum Rent and all Additional Rent will be calculated using a Floor Area of 68,962 rentable square feet.

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Phase 2 Rent Commencement Date. The “Phase 2 Rent Commencement Date” is hereby amended as follows: “Except as otherwise provided in the Lease, the Phase 2 Rent Commencement Date for the Phase 2 Expansion Space shall be the earlier of # receipt of a certificate of occupancy for the Phase 2 Expansion Space; or # January 1, 2023. Beginning on the Phase 2 Rent Commencement Date, Minimum Rent and all Additional Rent will be calculated using a Floor Area of 90,435 rentable square feet.”

Source document

Phase 2 Rent Commencement Date. Except as otherwise provided in the Lease, the Phase 2 Rent Commencement Date for the Phase 2 Expansion Space shall be January 1, 2023. Beginning on the Phase 2 Rent Commencement Date, Minimum Rent and all Additional Rent will be calculated using a Floor Area of 90,435 rentable square feet.

Source document

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