Anchor Premises definition
Anchor Premises are those improved commercial premises occupied by an Anchor Tenant, under lease or otherwise, adjacent to the Individual Properties. "ANCHOR TENANTS" are those retail parties (which while not tenants of the Properties, occupy space adjacent to each of the Individual Properties and serve as a key anchor of the overall commercial destination of which those Individual Properties are a part , as discussed in Paragraph 13.C) that operate under the trade name and/or style of Wal-Mart, Lowe's, Sam's and/or Country Market.
Anchor Premises means any portion of the Premises that is subleased or otherwise Transferred to a third party by Tenant, consisting of thirty thousand (30,000) gross leasable square feet or more of space within the Premises.
Examples of Anchor Premises in a sentence
A "GO-DARK EVENT" shall be deemed to occur if any Anchor Tenant shall cease conducting business from 100% of its Anchor Premises (i.e., if any portion of those Anchor Premises shall no longer be used by that Anchor Tenant for the conduct of its business), and those Anchor Premises are not re-occupied by a Replacement Anchor as provided below.
Neither a Go-Dark Event nor a Termination Event regarding an Anchor Tenant (or its corresponding Anchor Premises) shall be deemed to exist with respect to an applicable Individual Property once one or more Replacement Anchors shall be in Operating Occupancy of the entire Anchor Premises affected by that particular Go-Dark or Termination Event.