This office lease clause provides the tenant with a right of first refusal if additional space becomes available within the building.
The Hillsborough Florida Expansion Option Clause refers to a contractual agreement that allows for the possibility of expanding a property or lease agreement in Hillsborough County, Florida. This clause provides flexibility for parties involved in real estate transactions, enabling them to potentially increase the size or scope of the property or lease as needed. The Hillsborough Florida Expansion Option Clause typically includes specific terms and conditions outlining how the expansion will occur, the timeframe within which it can be exercised, and any associated costs or considerations. This contractual provision is commonly utilized in commercial real estate agreements or leases, where businesses may require additional space for future growth or changes in their operations. Keywords: Hillsborough Florida, expansion option clause, contract, property, lease agreement, flexibility, real estate transactions, increase, size, scope, terms and conditions, timeframe, exercised, costs, considerations, commercial real estate, agreements, leases, businesses, space, growth, operations. Different Types of Hillsborough Florida Expansion Option Clauses: 1. Fixed Expansion Option Clause: This type of clause establishes a predetermined expansion area or percentage by which the property or lease agreement can be expanded. The terms and conditions for exercising this option are clearly specified within the contract. 2. Contingent Expansion Option Clause: This clause allows for expansion in certain conditions or contingencies. For example, the expansion may be subject to the approval of local authorities, availability of neighboring properties, or meeting certain performance benchmarks. 3. Staged Expansion Option Clause: In this type, the expansion is divided into multiple stages or phases. The contract outlines how each stage will be initiated and executed, along with details regarding costs, timeframes, and any other relevant considerations. 4. Right of First Refusal Expansion Option Clause: With this clause, the party with the expansion option is given the exclusive right to match or better any offers made by third parties for additional space or adjacent properties. It provides the first opportunity to expand before the property becomes available to others. 5. Termination and Expansion Option Clause: This type of clause combines the option to expand with the right to terminate the existing agreement or lease. It allows the party to choose between expanding or ending the contract based on specific conditions or predetermined triggers. Keywords: Fixed Expansion Option Clause, Contingent Expansion Option Clause, Staged Expansion Option Clause, Right of First Refusal Expansion Option Clause, Termination and Expansion Option Clause.The Hillsborough Florida Expansion Option Clause refers to a contractual agreement that allows for the possibility of expanding a property or lease agreement in Hillsborough County, Florida. This clause provides flexibility for parties involved in real estate transactions, enabling them to potentially increase the size or scope of the property or lease as needed. The Hillsborough Florida Expansion Option Clause typically includes specific terms and conditions outlining how the expansion will occur, the timeframe within which it can be exercised, and any associated costs or considerations. This contractual provision is commonly utilized in commercial real estate agreements or leases, where businesses may require additional space for future growth or changes in their operations. Keywords: Hillsborough Florida, expansion option clause, contract, property, lease agreement, flexibility, real estate transactions, increase, size, scope, terms and conditions, timeframe, exercised, costs, considerations, commercial real estate, agreements, leases, businesses, space, growth, operations. Different Types of Hillsborough Florida Expansion Option Clauses: 1. Fixed Expansion Option Clause: This type of clause establishes a predetermined expansion area or percentage by which the property or lease agreement can be expanded. The terms and conditions for exercising this option are clearly specified within the contract. 2. Contingent Expansion Option Clause: This clause allows for expansion in certain conditions or contingencies. For example, the expansion may be subject to the approval of local authorities, availability of neighboring properties, or meeting certain performance benchmarks. 3. Staged Expansion Option Clause: In this type, the expansion is divided into multiple stages or phases. The contract outlines how each stage will be initiated and executed, along with details regarding costs, timeframes, and any other relevant considerations. 4. Right of First Refusal Expansion Option Clause: With this clause, the party with the expansion option is given the exclusive right to match or better any offers made by third parties for additional space or adjacent properties. It provides the first opportunity to expand before the property becomes available to others. 5. Termination and Expansion Option Clause: This type of clause combines the option to expand with the right to terminate the existing agreement or lease. It allows the party to choose between expanding or ending the contract based on specific conditions or predetermined triggers. Keywords: Fixed Expansion Option Clause, Contingent Expansion Option Clause, Staged Expansion Option Clause, Right of First Refusal Expansion Option Clause, Termination and Expansion Option Clause.
