Common use of Unbundled Parking Clause in Contracts

Unbundled Parking. Developer shall lease its parking to commercial tenants separately from the commercial space. If commercial tenants desire to lease parking, parking shall either be leased pursuant to a separate agreement or shown as a separate line item in the lease. Such parking shall typically be leased on a month-to-month basis at market rates established by Developer from time-to-time. Developer may, subject to the Planning Director's approval, reconfigure the parking spaces and operations from time-to-time in order to facilitate unbundling of parking. Developer shall require in all tenant leases it executes as landlord that tenants not pay for or reimburse their employees for parking within the Project, provided, however, that Developer shall have no obligation to actively monitor for violations absent reasonable cause for doing so.

Unbundled Parking. Developer shall lease its parking to commercial tenants separately from the commercial space. If commercial tenants desire to lease parking, parking shall either be leased pursuant to a separate agreement or shown as a separate line item in the lease. Such parking shall typically be leased on a month-to-month basis at market rates established by Developer from time-to-time. Developer may, subject to the Planning Director's ’s approval, reconfigure the parking spaces and operations from time-to-time in order to facilitate unbundling of parking. Developer shall require in all tenant leases it executes as landlord that tenants not pay for or reimburse their employees for parking within the Project, provided, however, that Developer shall have no obligation to actively monitor for violations absent reasonable cause for doing so.