Area Percentage definition

Area Percentage. ("AP" in the formula below) means the percentage determined by the following formula:
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Area Percentage. ("AP" in the formula below) means the percentage determined by the following formula: AP = C/D, where C equals the number of gross square feet of floor area in the Premises, and where D equals the total gross square footage of all completed buildings, except the Power Plant, located on the Land at that time and which are connected to the Power Plant, regardless of whether or not any of said building(s) actually receives, or only has potential to receive, services from the Power Plant. (Notwithstanding the foregoing, for purposes of calculating the Area Percentage formula, "D" (i.e. the denominator in such formula) shall, at all times during the Term hereof, include the gross square footage presently allocated to the Administration Building (e.g. 236,265 gross square feet), even if the Administration Building should no longer exist. However, for purposes of this formula, "D" shall be increased by the amount of any gross square footage added to the Premises after the date hereof and "D" may be decreased by the gross square footage of the Conference Center (e.g. 56,560 gross square feet) in the event and at such time as the Conference Center may no longer exist.) The parties agree that, as of the date of this Lease, (a) the Parking Percentage is Forty-Eight Percent (48%), based upon the Premises being allocated 500 automobile parking spaces out of a total of 1,041 parking spaces located on the Land, (b) the Area Percentage is Fifty-Two Percent (52%), based upon the Premises containing 318,704 gross square feet and all completed buildings, except the Power Plant, located on the Land containing a total of 611,529 gross square feet, and (c) and for purposes of determining the Parking Percentage and Area Percentage, the Conference Center contains 56,560 gross square feet of space and the Administration Building contains 236,265 gross square feet of space.
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Examples of Area Percentage in a sentence

  • The Lessee's proportionate share of such Building Operating Expenses and Common Area Operating Expenses shall be based upon the Lessee's Building Percentage in the case of Building Operating Expenses, and upon the Lessee's Common Area Percentage in the case of Common Area Operating Expenses, all as defined herein.

  • Lessee’s Reserved Use Area Percentage (as defined in Section 1 below) shall be: %.

  • The Lessee's proportionate share of such Building Operating Expenses and Common Area Operating Expenses shall be based upon the Lessee's Building Percentage in the case of Building operating Expenses, and upon the Lessee's Common Area Percentage in the case of Common Area Operating Expenses, all as defined herein.

  • It is further agreed that the rate of royalties to be paid to State equals _____ %, and that as soon as the Production Unit Area has been determined the State Area Percentage will be calculated, and thereupon the State’s Proportionate Share will be calculated by multiplying the State Area Percentage by the said rate of royalties.

  • Should the Building and/or landscape area become a separate legal lot, or should additional improvements or common area be added to or deleted from Exhibit B, the Lessor may, at its option, calculate the Lessee's Common Area Percentage by comparing the common area attributable to the Premises with the common area on such legal lot or otherwise within Exhibit B as so revised.

  • During the term of this Sublease, so long as Subtenant is not in default under this Sublease, Subtenant and its employees shall be entitled to use Subtenant's Percentage Share (for the Common Area Percentage) of the parking rights granted to Sublandlord as tenant, under the Prime Lease.

  • Lessee’s proportionate share of such Building Operating Expenses and Common Area Operating Expenses shall be based upon Lessee’s Building Percentage in the case of Building Operating Expenses and upon Lessee’s Common Area Percentage in the case of Common Area Operating Expenses, all as defined herein.

  • Should the Building and/or landscape area become a separate legal lot, or should additional improvements or common area be added to or deleted from Exhibit "B", the Lessor may, at its option, calculate the Lessee's Common Area Percentage by comparing the common area attributable to the Premises with the common area on such legal lot or otherwise within Exhibit "B" as so revised.

  • Area Percentage is a percentage figure calculated by the project architect by dividing the Leased Area of the Premises by the total leasable area in all improvements, including the Building and other buildings, shown on Exhibit B, during such year as is initially stipulated to be as shown in Item 3 of the Basic Lease Provisions.

  • Each Library City will receive funds equal to the Remainder Amount multiplied by its individual Unincorporated Service Area Percentage Rate.