expansion option

expansion option

A right granted by the landlord to the tenant where the tenant has the option to add more space to the premises according to the terms of the option,which may contain restrictions as to the time, proximity, and rental rate, or the restriction that the option is available only if another named or described tenant fails to exercise its expansion option first.

References in periodicals archive ?
However, the company is growing so quickly that we had to mobilize and lease what was going to be one of their expansion option spaces earlier than previously planned.
The full system provides original-equipment manufacturers (OEMs) with a versatile PCI expansion option for a variety of applications.
Also Announces Deduplication Expansion Option for EMC Disk Library for Mainframe and Increased Scalability of the EMC Disk Library Series
Austrian Airlines has revealed that it would be interested in buying a stake in Hungarian airline Malev but insisted it was just one expansion option.
Driscoll said the hiring of a marketing and public relations firm is important to coordinate involvement of the public in the process of deciding which expansion option to pursue.
We anticipated Genzyme would act on its expansion option, but perhaps not this rapidly," said Dusek, "since growth is part of the company's long-term strategic plan.
Included in the acquisition were three geothermal power plants, consisting of a 10 MW unit, a 20 MW unit and a 50 MW unit, a 20 MW plant expansion option with Southern California Edison, as well as 40,000 acres of strategically located geothermal leaseholds in California's Imperial Valley and 70,000 acres of geothermal leaseholds in Central California and Nevada.
The Mini-GBIC expansion option allows the unit to be customized to accommodate most fiber gigabit connectivity form factors.
5m payable over the next two years, or more than USD10m if the partner exercises additional expansion options.
System with low power consumption can support rich I/O and comes with a high connectivity and expansion options.
Bahrain-based Solidarity Group Holding plans to explore strategic expansion options specifically in its target markets, the company's chairman said.
MANAMA: Solidarity Group Holding has vowed to explore strategic expansion options specifically in its target markets, the company's chairman has said.