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Expansion

CategoryReal Estate

Clause TypeRights granted

Definition

Tenant's right to lease or have first offer or refusal on any additional available space during the term.

Example

Subject to the provisions hereinafter set forth,Landlord hereby grants to Tenant the option to lease, on the terms and conditions hereinafter set forth, space (the Expansion Space) within the area on the 25th floor of the Building shown on Exhibit I to this Lease (the Total Expansion Space).