Definitions Premises Term Clause Samples
The "DEFINITIONS; PREMISES; TERM" clause establishes the foundational terms, identifies the property involved, and sets the duration of the agreement. It typically provides clear definitions for key terms used throughout the contract, describes the specific premises or property subject to the agreement, and states the start and end dates of the contractual relationship. By clarifying terminology, specifying the subject matter, and outlining the time frame, this clause ensures all parties have a shared understanding of the agreement’s scope and duration, reducing the risk of disputes over interpretation.
Definitions Premises Term. Section 1.01. For the purposes of this Lease the following terms shall have the definitions immediately following such terms and the definitions are hereby incorporated into this Lease wherever used: AUTHORIZED USE: the term "Authorized Use" shall be an upscale retail store for the sale at retail of men's skin care products, spa services, storage, offices, and uses ancillary thereto. Subsequent to an assignment of this Lease or a subletting of ▇▇▇▇▇▇'s interest hereunder to an unrelated third-party, or with respect to a proposed assignment of Tenant's interest in this Lease, the Authorized Use shall be any legal use reasonably acceptable to Landlord which does not violate any covenants or restrictions in any other lease or agreement made by or binding on Landlord with respect to the Demised Premises.
Definitions Premises Term