This office lease clause provides the tenant with a right of first refusal if additional space becomes available within the building.
The Broward Florida Expansion Option Clause is a contractual provision that grants a party the right to expand their property or lease within the Broward County, Florida area. This clause provides individuals or businesses with the flexibility to enlarge their existing space or lease additional premises in the future, depending on their evolving needs and requirements. The Broward Florida Expansion Option Clause is commonly found in commercial leases, property purchase agreements, and real estate contracts. It is a valuable tool for tenants or property owners who anticipate potential growth or expansion, as it allows them to secure their ability to expand the leased space or property at a later time, on pre-negotiated terms. There are several types of Broward Florida Expansion Option Clauses, each with its own specific conditions and considerations. Some commonly known types include: 1. Right of First Offer: This type of expansion option clause grants the tenant the first opportunity to lease any additional space within the property or building before it is offered to other potential tenants. The tenant has the first chance to negotiate terms and conditions for expansion. 2. Right of First Refusal: This clause allows the tenant to match or better any offer received for the expansion or leasing of additional space within the property. If a better offer is presented, the tenant has the option to exercise their right of refusal and expand the existing premises according to pre-agreed terms. 3. Fixed Expansion Space: With this type of option clause, the tenant and landlord agree on a predetermined expansion area or specific space within the property. The tenant has the right to expand into this fixed space when needed, without the need for further negotiations or bidding processes. 4. Contingent Expansion: This expansion option clause is contingent upon specific conditions being met, such as the tenant achieving certain milestones or performance targets. Once these conditions are fulfilled, the tenant gains the right to expand into additional space. The Broward Florida Expansion Option Clause is a valuable tool for businesses and individuals seeking flexibility and future growth in the Broward County, Florida area. By incorporating this clause into their contracts or leases, they can secure the opportunity to expand their premises on predetermined terms, providing room for their evolving needs and goals.The Broward Florida Expansion Option Clause is a contractual provision that grants a party the right to expand their property or lease within the Broward County, Florida area. This clause provides individuals or businesses with the flexibility to enlarge their existing space or lease additional premises in the future, depending on their evolving needs and requirements. The Broward Florida Expansion Option Clause is commonly found in commercial leases, property purchase agreements, and real estate contracts. It is a valuable tool for tenants or property owners who anticipate potential growth or expansion, as it allows them to secure their ability to expand the leased space or property at a later time, on pre-negotiated terms. There are several types of Broward Florida Expansion Option Clauses, each with its own specific conditions and considerations. Some commonly known types include: 1. Right of First Offer: This type of expansion option clause grants the tenant the first opportunity to lease any additional space within the property or building before it is offered to other potential tenants. The tenant has the first chance to negotiate terms and conditions for expansion. 2. Right of First Refusal: This clause allows the tenant to match or better any offer received for the expansion or leasing of additional space within the property. If a better offer is presented, the tenant has the option to exercise their right of refusal and expand the existing premises according to pre-agreed terms. 3. Fixed Expansion Space: With this type of option clause, the tenant and landlord agree on a predetermined expansion area or specific space within the property. The tenant has the right to expand into this fixed space when needed, without the need for further negotiations or bidding processes. 4. Contingent Expansion: This expansion option clause is contingent upon specific conditions being met, such as the tenant achieving certain milestones or performance targets. Once these conditions are fulfilled, the tenant gains the right to expand into additional space. The Broward Florida Expansion Option Clause is a valuable tool for businesses and individuals seeking flexibility and future growth in the Broward County, Florida area. By incorporating this clause into their contracts or leases, they can secure the opportunity to expand their premises on predetermined terms, providing room for their evolving needs and goals.
