Common use of Parking Ratios Clause in Contracts

Parking Ratios. As of the Rent Commencement Date (and subject to temporary interruptions in connection with Landlord’s continued development of the Project, as provided below), the parking ratio within the Project applicable to Tenant will be twenty-six (26) spaces based on four (4) spaces per 1,000 Usable Square Feet (“USF”) of space within the Premises. The foregoing (4:1,000 USF) parking ratio includes all spaces within the Project, including covered, uncovered, reserved, unreserved, handicap, and visitor parking spaces. Of the total spaces described above, a maximum of six (6) of said total spaces may be reserved in the parking garage by Tenant at the rate of $100.00 per space per month during the initial Lease Term. Tenant shall notify Landlord in writing upon execution of this Lease how many of the six (6) reserved spaces it chooses to reserved, and only those spaces shall be reserved for the entire initial Lease Term All unreserved parking shall be provided on a free and unassigned basis (i.e., first come, first served).