Adjacent Parcel Sample Clauses
The Adjacent Parcel clause defines the rights and obligations of parties concerning land or property that is directly next to or bordering the main parcel involved in the agreement. Typically, this clause clarifies whether the parties have any rights to use, access, or develop the neighboring land, and may address issues such as shared driveways, easements, or maintenance responsibilities. Its core function is to prevent disputes and ensure clarity regarding the use and management of land that is physically close to, but not part of, the primary property.
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Adjacent Parcel. The parties acknowledge that Lessor and Lessee are --------------- parties to a lease (the "Adjacent Parcel Lease") for the adjacent parcel of real estate commonly known as ▇▇▇ ▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇. Any default by Lessee under the Adjacent Parcel Lease shall, at Lessor's option, constitute a default under this Lease
Adjacent Parcel. A parcel adjacent to the Real Estate. A parcel that --------------- is separated from the Real Estate only by a driveway, street, or other means of access will be considered an Adjacent Parcel. Alcoholic Beverage License: A transferable license for the sale of -------------------------- alcoholic beverages at the Offered Parcel.
Adjacent Parcel. Tenant may only exercise the Purchase Option as to the Adjacent Parcel (the “Adjacent Parcel Purchase Option”) in the event Building 3 is not constructed or under construction (Building 3 shall be deemed to be under construction in the event any items of physical preparation for construction have occurred, e.g., grading of the site) during the Property Purchase Option Period (“Adjacent Parcel Purchase Option Period”). Provided Tenant requests such a determination at least thirty days in advance, Landlord will provide Tenant with copies of any loan documents pertaining to the Property together with estimated calculations of any prepayment penalties or assumption fees relating to any existing loan documents on or before the first day of the forty-first (41st) full month of the Term.
Adjacent Parcel. If a building is constructed on the Adjacent Parcel: (a) the following provisions of Exhibit C to the Lease will not apply: the definition of “Premises” in ▇▇▇▇▇▇▇▇▇ ▇.▇, ▇▇▇▇▇▇▇▇▇▇ ▇.▇ and C.3, the third sentence of Paragraph C.4 (“The load factor . . . Building 3.”), C.5, C.6, and C.7; and (b) the following will automatically be added to Section 7.3 of the Lease: “All subterranean parking constructed under Building 3 will be for the exclusive use of the tenants of Building 3. Tenant acknowledges that the nature and configuration of the parking area and driveway circulation will change as the result of the development of the Project and that tenants of the Adjacent Parcel may be parking on the Property and Tenant may be parking on the Adjacent Parcel; provided that nothing herein will reduce the number of Tenant’s Parking Spaces as defined in Section 9.d. of the First Amendment to this Lease.”
Adjacent Parcel the parcel of land designated as Lot 9 in Block 47.01 on the tax map of the Township of Monroe, Middlesex County, New Jersey.
Adjacent Parcel. The parties acknowledge that ▇▇▇▇▇ ▇▇▇▇ Investment --------------- Partners, an affiliate of Lessor, is granting Lessee a right of first refusal to lease the adjacent parcel of real estate commonly known as ▇▇▇ ▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ (the "Adjacent Parcel"). Any default under any lease executed by and between ▇▇▇▇▇ ▇▇▇▇ Investment Company and Lessee for all or any portion of the Adjacent Parcel shall, at Lessor's option, constitute a default under this Lease.
Adjacent Parcel. Approximately 6 acres of unimproved real property adjacent to the Subject Property within the Aerospace Research Campus in Tucson, Arizona, which is more particularly described on Exhibit B-I and depicted on Exhibit B-II, which is within an area designated by Landlord as an Aerospace, Defense, and Technology Business and Research Park and is referred to as the Aerospace Research Campus (ARC) in Tucson, Arizona.
Adjacent Parcel