Adjacent unit definition
Adjacent unit means any unit that shares a common
Adjacent unit means Suite 501 in the Building and all references throughout the Lease to the Adjacent Unit shall mean Suite 501 in the Building, Further, Exhibit C attached to the Lease shall hereby be deleted and the Exhibit C attached hereto shall be substituted in lieu thereof. THIRD: Tenant warrants and represents to Landlord that it has not dealt with any real estate broker, agent or finder in connection with the transactions described in this Agreement and Tenant agrees to indemnify, defend and hold Landlord harmless on demand from and against any and all costs, expenses or liability (including reasonable attorneys’ fees) for any compensation, commissions, fees and charges claimed by any broker, agent or finder with respect to this Agreement or the negotiation of the terms thereof due to the dealings of Tenant with the claimant.
Adjacent unit means Suite 508 in the Building, which premises is in the approximate location shown on Exhibit C attached hereto and hereby made a part hereof. Provided that Tenant is not in default beyond applicable notice and cure periods (the “Option Requirement”), then Tenant shall have the option to add the Adjacent Unit to the demised premises for the remainder of the term of this Lease commencing on February 1, 2011, upon the same terms and conditions provided herein, except that (a) the term “Tenant’s Percentage” shall be amended to be 6.312%, (b) the monthly additional rent charge for ordinary office trash collection pursuant to Article 47 of the Lease shall be amended so that it shall be $354.57 per month and (c) the annual base rent payable under Article 2 of the Lease shall be amended so that commencing on February 1, 2011 and thereafter during the balance of the term of the Lease it shall be as follows (dates inclusive): February 1, 2011 to July 31, 2011: $513,767.10/year — $42,813.93/month August 1, 2011 to July 31,2012: $529,180.11/year — $44,098.34/month August 1, 2012 to July 31, 2013: $545,055.52/year — $45,421.29/month August 1, 2013 to July 31, 2014: $561,407.18/year — $46,738.93/month August 1, 2014 to July 31, 2015: $620,775.32/year — $51,731.28/month August 1, 2015 to July 31, 2016: $637,846.64/year — $53,153.89/month If the Option Requirement is not met, then the option to add the Adjacent Unit to the demised premises shall be deemed waived. Tenant shall give written notice to Landlord on or before September 1, 2010 to elect to add the Adjacent Unit to the demised premises, or such option shall be deemed waived. Tenant’s offer to add the Adjacent Unit to the demised premises shall be for the premises in “as is” condition for a term corresponding to the balance of the term of this Lease except that the Adjacent Unit shall be delivered free and clear of all occupants. Additional Rent as it relates to the Adjacent Unit with respect to the increase in Real Estate Taxes shall not be due for the period prior to July 1, 2011. If the option to add the Adjacent Unit to the demised premises shall be duly and timely exercised, the parties will, at the request of either, execute an agreement in form for recording, evidencing such addition to the demised premises and modifying the Lease as described in (a), (b) and (c) above.
Examples of Adjacent unit in a sentence
In such event, any rental revenue received by Manager for such rental of the combined unit will be allocated between the Unit and the Adjacent Unit in proportion to relative square footage measurements for the Unit and Adjacent Unit as set forth in the Declaration.
Owner further acknowledges that the Manager shall have the right, in Manager’s sole discretion, to rent the Unit and the Adjacent Unit together as a combined unit to a Leisure Guest.
In the event Tenant timely exercises Tenant’s option to add the Adjacent Unit (as hereinafter defined) to the demised premises, Landlord’s prior written consent to any nonstructural changes in connection with Tenant’s initial work on the Adjacent Unit pursuant to plans reviewed by Landlord with respect to the Adjacent Unit (the “Adjacent Unit Plans”) shall not be unreasonably withheld, conditioned or delayed.
More Definitions of Adjacent unit
Adjacent unit means, in relation to an affected unit, any unit which is at some point within four metres of the unit.