Radius Clause Clause Samples
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Radius Clause. Tenant shall not, during the Lease Term, own, operate, maintain or control any business similar to, or competing with the business to be conducted on the Leased Premises, and located within a radius of one and one-half (1 1/2) miles from the outside boundaries of the Shopping Center, with the exception of any such business in operation by Tenant prior to the date of this Lease.
Radius Clause. Tenant agrees that during the first five (5) years of the Lease Term, neither Tenant nor any officer of Guarantor nor any person, corporation, partnership, joint stock association, trust or other firm or entity which controls Tenant or is controlled by Tenant or is under common control with either Tenant or Guarantor (herein a “TENANT AFFILIATE”) shall either directly or indirectly, commence operation of any restaurant which in any manner competes with the restaurant which is to be operated at the Leased Premises within six (6) miles of the Leased Premises, which Tenant acknowledges is a reasonable radius for the purpose of this provision. Landlord shall be entitled to enforce the foregoing prohibition by all legal and equitable means including, without limitation, the obtaining of injunctive relief. Following the first five (5) years of the Lease Term, a Tenant Affiliate shall be permitted to open another restaurant within a six (6) mile radius of the Leased Premises provided that (i) such other restaurant operates under a name other than the Trade Name under which Tenant is then operating, (ii) has a different decor and theme than the restaurant then operated at the Leased Premises and (iii) there are not more than two (2) steak dishes on the menu of such other restaurant. Further, if a Tenant Affiliate opens such other restaurant within a six (6) mile radius of the Leased Premises, then Tenant also covenants that the Percentage Rent which it will pay to Landlord under this Lease will not, for any subsequent Lease Year, be less than the greater of (i) the Percentage Rent payable for the Lease Year preceding the Lease Year in which the other restaurant opened, or (ii) the average Floor Percentage Rent payable for the three (3) Lease Years preceding the Lease Year in which the other restaurant opened (such greater amount being herein called the “Floor Percentage Rent”), and that the Percentage Rent will increase every Lease Year thereafter by an amount equal to two and one-half percent (2 ½%) of the Floor Percentage Rent.
Radius Clause. Tenant hereby agrees that it shall not directly, or indirectly, during the term of this lease, or any renewals or extensions thereof, open, operate, or otherwise become interested in a business similar in nature or in any way competitive to that business conducted on the demised Leased Premises within a three-mile radius of the demised Leased Premises.
Radius Clause. Landlord agrees that there shall be no radius clause whereby Tenant shall be prohibited from opening or operating another Papa ▇▇▇▇▇▇’▇ Take ‘N’ Bake Pizza store.