PARKING DECK Sample Clauses

PARKING DECK. Purchaser is presently evaluating the possibility of adding one (1) additional level to the existing parking deck (the “Parking Deck”) at the Property (said additional level, along with any modification to the existing parking deck required to add the additional level, collectively, the “Parking Deck Addition”). Prior to the expiration of the Parking Deck Feasibility Period (defined below), Purchaser shall have the right to conduct such tests, investigations, inspections and feasibility studies as Purchaser shall require in its sole discretion to evaluate the feasibility and cost of the Parking Deck Addition. In connection with Purchaser’s investigations, Purchaser Parties shall have the same rights to go upon the Property to conduct these tests and inspections, and Purchaser shall have all the same obligations and is subject to the same restrictions, including without limitation maintaining the same insurance coverages and providing the same indemnities, as are set forth in Section 3.1 of the Purchase Agreement. Purchaser shall have until 3:00 p.m., Eastern Time on March 4, 2015 (the period of time between the date of this Amendment and 3:00 p.m., Eastern Time on March 4, 2015 hereinafter referred to as the "Parking Deck Feasibility Period"), to determine whether constructing the Parking Deck Addition is feasible and the cost is acceptable to Purchaser. If Purchaser determines in its sole discretion that constructing the Parking Deck Addition is not feasible or the cost is not otherwise acceptable, then Purchaser shall have the right to terminate the Purchase Agreement by providing written notice to Seller on or before the expiration of the Parking Deck Feasibility Period. If Purchaser terminates the Purchase Agreement in accordance with this provision, then the Initial ▇▇▇▇▇▇▇ Money shall be refunded to Purchaser in accordance with Section 1.6 of the Purchase Agreement (the parties acknowledging that any such termination shall be a "Purchaser Permitted Termination Event"), and neither party shall have any further rights or obligations under the Purchase Agreement, except those indemnities, rights and obligations which by their express terms survive the termination of the Purchase Agreement. Notwithstanding anything contained in Section 1.6(a) of the Purchase Agreement or any other provision of the Purchase Agreement to the contrary, if Purchaser does not terminate the Purchase Agreement prior to the expiration of the Parking Deck Feasibility Period, then...

PARKING DECK. Seller and Buyer acknowledge that, prior to the Effective Date, Coliseum Transfer Inc. (“Coliseum Transfer”), the predecessor to Coliseum Building, entered into (i) that certain Lease Agreement with Compass Group USA, Inc. (“Compass”) dated July 1, 2011 (relative to Compass’ premises in One Coliseum Centre) and (ii) that certain Lease Agreement with Compass dated July 1, 2011 (relative to Compass’ premises in Two Coliseum Centre) (collectively, and as amended, the “Compass Leases”). Seller and Buyer further acknowledge that (i) the Compass Leases require Coliseum Transfer to construct a parking deck that will provide parking for tenants and occupants of One Coliseum Centre and Two Coliseum Centre, all as more particularly described in the Compass Leases (the “Parking Deck”), (ii) the construction of the Parking Deck may not be fully completed as of the Effective Date, and (iii) Coliseum Transfer is responsible for completing the Parking Deck pursuant to an agreement between Seller and Coliseum Transfer. Pursuant to the terms of that certain Additional Escrow Agreement dated April 16, 2012 between Coliseum Transfer, Seller, and Escrow Agent (the “Additional Escrow Agreement”), Coliseum Transfer is to deliver to Seller certain documents (defined therein as the “Final Documents”) with respect to the Parking Deck upon completion thereof (herein referred to as the “Parking Deck Completion Materials”). Upon its receipt of the Parking Deck Completion Materials from Coliseum Transfer, Seller shall provide copies of the same to Buyer. Following such completion of the Parking Deck, (as evidenced by the Parking Deck Completion Materials), the parties shall proceed to Closing pursuant to Section 9.1, (subject to the other terms and conditions of this Agreement).

PARKING DECK. Both Parties recognize that development of the Project will require construction of the Parking Deck. The Town shall pay all costs and expenses for construction of the Parking Deck. The PDA, Parking Deck Lease Agreement, Parking Deck Construction Agreement, Parking Deck Management Agreement, and any other agreement the Parties determine in good faith are reasonably necessary for the Parking Deck shall govern the Parties’ respective obligations and rights related to the Parking Deck.

PARKING DECK. Notwithstanding anything to the contrary in this Lease, Landlord and Tenant intend that under the terms of this Lease and the Parking Deck Lease, the City shall be the owner of the Parking Deck for federal, state and local tax purposes and for financial accounting purposes. Accordingly, Landlord and Tenant agree that: (i) they shall report the transaction on their respective federal, state and local tax returns and internal books and records and audited financial statements in a manner consistent with the treatment of the City as owner of the Parking Deck, (ii) they shall treat the City as the owner of the Parking Deck for all federal, state and local tax purposes and financial accounting purposes, (iii) they shall not take any position on any tax return, financial record or statement or any other document, or in connection with any audit, contest or other administrative or legal proceeding, the is inconsistent with such reporting or treatment, (iv) the Facility Payment shall be treated as reimbursement to Landlord for the cost of constructing the Parking Deck for the benefit of the City and shall not be treated as rent for tax or accounting purposes, and (v) Landlord shall not claim any depreciation or other deductions with respect to ownership of the Parking Deck.

PARKING DECK. The parking structure to be located on the Site as part of the Base Building Improvements, as described in the Base Building Plans.

PARKING DECK. Landlord shall construct a multi-level parking deck with parking for approximately 470 vehicles adjacent to the Building on the Land. Such parking facility shall be available for use by Tenant on a non-exclusive basis subject to the Parking Rules and Regulations and to the provisions of Article VII, Section 2 of this Lease. Use of the parking facility by Tenant, its employees, agents and invitees shall be non-exclusive and shall be in common with tenants of the One Morrocroft Property adjoining the Property and such tenants' employees, agents and invitees.

PARKING DECK. Pursuant of Article 2.16, the Parking Deck, originally planned for 340

PARKING DECK. The County has engaged and managed the Architect, with the Town’s approval, to provide planning, design, preparation of Construction Documents, filing for permits, bidding assistance, and construction administration, for the Parking Deck portion of the Project, in accordance with the Professional Services Agreement.