Radius Restrictions Clause Samples

Radius Restrictions. Until such time as the Buildings and other Improvements to be constructed on the Premises in accordance with the Approved Final Plans and Specifications for all of the Initial Project have been Substantially Completed, neither Lessee, nor any Guarantor under the Guaranty, nor any of Lessee's members or the respective Affiliates of Lessee or any Guarantor under the Guaranty shall engage, directly or indirectly, in the development, ownership, operation, management of any other hotel project similar in nature to the Permitted Uses, within a radius of five (5) miles of the Techny Land, whether such development, ownership, operation, management or other project is direct or indirect, through one or more entities, contractual relationships or familial relationships, and whether such development, ownership, operation, management or project acts as owner, principal, agent, partner, shareholder, officer, director, member, trustee, beneficiary, employer, employee, consultant, manager, lessor, lessee, or otherwise. Notwithstanding the foregoing, any member of or principal owner of Lessee or any Guarantor, and any of the respective Affiliates of Lessee or any Guarantor which is a separate Person from Lessee and is regularly engaged in the business of providing construction or architectural services shall not be restricted by the provisions of this Section 6.3(a) from being engaged by unrelated third parties to provide any such services to any ​ other project within such five (5) mile radius, as ▇▇▇▇ as such member or principal owner of Lessee or any Guarantor under the Guaranty (or any of their respective Affiliates) is not an equity participant in such project or in any Person managing or investing in such project.

Radius Restrictions. The Project Entities are not in violation ------------------- of any radius restrictions, exclusive or similar provisions contained in any reciprocal easement agreements, Leases or any other agreements to which any of the Project Entities is a party or is bound, if such violation would have a material adverse effect on the Project Entities or any of the Completed Properties.

Radius Restrictions. Lessor, from and after the date of execution and delivery of this Lease, and for so long as this Lease remains in full force and effect, agrees not to enter into any leases of space within one-half (1/2) mile of the Premises which grants to any tenant the right to use such leased space for the primary purpose of selling paper goods or party goods.

Radius Restrictions. For so long as the Operating Partnership and/or NHP, directly or indirectly owns any material portion of any Property acquired pursuant to the Contribution Agreement or any Approved Property acquired pursuant to a Pipeline Property Contribution Agreement (individually, a “Protected Property”, and collectively, the “Protected Properties”), PMB LLC shall deliver a “Right of First Offer Notice” (as hereinafter defined) to NHP and the Operating Partnership in the event that PMB LLC or its affiliates intend to acquire and develop a MOB, or acquire an existing MOB, whether directly or indirectly and whether by fee or by leasehold, to the extent that such additional real property, or any portion of such additional real property, is located in the “Competitive Area” (as hereinafter defined) of such Protected Property (each, a “ROFO Property”). Notwithstanding anything to the contrary in this Section 7.1, the “Right of First Offer” (as hereinafter defined) and the “Right of First Refusal” (as hereinafter defined) with respect to any ROFO Property shall not apply if the proposed transaction with respect to such ROFO Property is an Excluded ROFO Transaction. Prior to seeking or negotiating any third party investments or financial arrangements with respect to such ROFO Property (other than with any hospitals or doctors that may be affiliated with such ROFO Property) PMB LLC shall first notify the Operating Partnership in writing (the “Right of First Offer Notice”) of its intentions, which Right of First Offer Notice shall (a) summarize the transaction that PMB LLC or its affiliates are considering in connection with such ROFO Property (including, without limitation, information regarding the ownership interests or investment opportunities that PMB LLC wishes to offer to a third party financial institution or investor and what interests are likely to be held by doctors and/or hospitals), (b) contain the material economic terms upon which PMB LLC would, in good faith, expect to be able to enter into its contemplated transaction in the market and (c) offer (in each case, a “Right of First Offer”) to the Operating Partnership the opportunity to consider whether it will participate in the contemplated transaction on material economic terms substantially similar to those contained in the Right of First Offer Notice. PMB LLC shall also provide any reasonable additional information that it has with respect to the transaction and such ROFO Property, which the Operating Partner...

Radius Restrictions. NWI is not in violation of any radius ------------------- restrictions, exclusive or similar provisions contained in any reciprocal easement agreements, Leases or any other agreements to which NWI is a party or is bound, if such violation would have a material adverse effect on the Partnership, NWI or any of the Completed Properties.

Radius Restrictions. ‌ These provisions are the flip side of exclusive rights provisions. Where a retail lease calls for percentage rent, the land- lord will want the tenant to agree not to open a competing operation so close to the shopping center that it might draw off sales from the tenant’s store in the shopping center. Accordingly, the landlord will require the tenant to covenant not to open other stores within an agreed “radius” of the shopping center. The negotiation and drafting of these provisions can get tricky. The tenant will want an exception for any existing stores, as well as for violations that may occur by reason of the tenant’s acquisition of an existing chain of operations or a competitor’s acquisition of the tenant. Remedies for ▇▇▇▇▇- tion of radius restrictions vary, but commonly call for the inclusion of gross sales from the violating location in gross sales at the premises for purposes of computing percentage rent.