This office lease clause provides the tenant with a right of first refusal if additional space becomes available within the building.
The California Expansion Option Clause is a legal provision included in commercial leases that grants tenants the right to expand their leased premises within a specific property or complex in California. This clause provides an advantageous opportunity for businesses to accommodate future growth or changes in their operations without the need to relocate or negotiate new lease agreements elsewhere. The California Expansion Option Clause allows tenants to exercise their expansion right within a predetermined timeframe, usually within the initial lease term. This clause specifies the conditions and procedures for expanding the leased premises and outlines the terms and conditions for the additional space to be acquired. There are different types of California Expansion Option Clauses that tenants can negotiate based on their unique requirements. Some common variations include: 1. Right of First Offer (ROFL): Under this type of clause, the tenant is granted the first opportunity to lease any available adjacent or contiguous space that becomes available in the same property or complex before it is offered to other potential tenants. The tenant has the right to match or surpass any competing offers for the additional space. 2. Right of First Refusal (ROAR): In a ROAR clause, the tenant is given the option to lease any additional space that becomes available within the property or complex but is not obligated to do so. Instead, the tenant has the right to accept or decline the space offered after the landlord has received an offer from another potential tenant. 3. Right to Expand: This type of clause explicitly provides tenants with the right to expand their leased premises within the property or complex, typically at predetermined intervals during the lease term. The expansion provision may include specifications such as the maximum square footage or the specific locations where expansion can occur. The California Expansion Option Clause offers flexibility to tenants, allowing them to adjust their space requirements as their business needs evolve. However, it is crucial for tenants to carefully review the specific terms and conditions of the clause to understand the limitations, restrictions, and requirements associated with expanding their leased premises.The California Expansion Option Clause is a legal provision included in commercial leases that grants tenants the right to expand their leased premises within a specific property or complex in California. This clause provides an advantageous opportunity for businesses to accommodate future growth or changes in their operations without the need to relocate or negotiate new lease agreements elsewhere. The California Expansion Option Clause allows tenants to exercise their expansion right within a predetermined timeframe, usually within the initial lease term. This clause specifies the conditions and procedures for expanding the leased premises and outlines the terms and conditions for the additional space to be acquired. There are different types of California Expansion Option Clauses that tenants can negotiate based on their unique requirements. Some common variations include: 1. Right of First Offer (ROFL): Under this type of clause, the tenant is granted the first opportunity to lease any available adjacent or contiguous space that becomes available in the same property or complex before it is offered to other potential tenants. The tenant has the right to match or surpass any competing offers for the additional space. 2. Right of First Refusal (ROAR): In a ROAR clause, the tenant is given the option to lease any additional space that becomes available within the property or complex but is not obligated to do so. Instead, the tenant has the right to accept or decline the space offered after the landlord has received an offer from another potential tenant. 3. Right to Expand: This type of clause explicitly provides tenants with the right to expand their leased premises within the property or complex, typically at predetermined intervals during the lease term. The expansion provision may include specifications such as the maximum square footage or the specific locations where expansion can occur. The California Expansion Option Clause offers flexibility to tenants, allowing them to adjust their space requirements as their business needs evolve. However, it is crucial for tenants to carefully review the specific terms and conditions of the clause to understand the limitations, restrictions, and requirements associated with expanding their leased premises.
