Bank Space definition

Bank Space or “Licensed Space” means built-up space earmarked for Bank operations (excluding prohibited activities) in Deendayal Hastkala Sankul (Trade Centre & Museum), Varanasi, Uttar Pradesh as indicated in Appendix-I of this Agreement given on License basis by the Licensor to the Licensee under and in accordance with this Agreement.

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Bank Space shall include areas open to the use and enjoyment of customers of the Bank, such as lobbies, safety deposit box areas and conference rooms, and areas used for Lessee's branch banking operations, such as staff offices, lounges and other areas, vault areas and storage and file rooms. As an illustration of the foregoing, assume first that upon taking possession of the Premises Lessee was to actually use only 4,000 net rentable square feet of space within the Premises for the operation of Lessee's retail branch banking business, i.e., Bank Space; and the remaining 18,570 net rentable square feet for general office purposes, i.e., Office Space (such as space for offices, for escrow and loan services, and for storage and file rooms not used for branch banking operations). Lessee's rent would nonetheless be based on 8,000 net rentable square feet of Bank Space, with the balance of the net rentable area of the Premises being considered Office Space. If Lessee were to later add another 5,000 net rentable square feet of Bank Space, then its total Bank Space would consist of 9,000 net rentable square feet (the first 4,000 square feet plus the newly added 5,000 square feet) and would be subject to the rental set forth in Item 5(a) of the Basic Lease Provisions; and the remaining net rentable area of the Premises would be considered Office Space and would be subject to the rental set forth in Item 5(b) of the Basic Lease Provisions. If Lessee later were to add still more net rentable square feet of Bank Space, Lessee would thereafter continue (until the next rental adjustment period as provided in Section 2.02 below) to pay rental at the rate shown in Item 5(a) of the Basic Lease Provisions on the expanded Bank Space, even if that space were later used or sublet by Lessee for general office use. At any time after the commencement of the next such rental adjustment period, however, Lessee shall have the right to reduce the net rentable square feet of Bank Space and thereby reduce the amount of rent payable for Bank Space, but only if written notice, showing the amount of any proposed reduction in Bank Space to a minimum of 8,000 net rentable square feet, has been given to Lessor at least twelve (12) months prior to the commencement of such rental adjustment period.

Examples of Bank Space in a sentence

• The annual Minimum Rent for the Bank Space shall be adjusted to the fair rental value thereof, as initially determined by Lessor using as comparables the current rentals for retail bank space in the so-called "Airport Area," located in the general vicinity immediately surrounding Campus Drive and MacArthur Boulevard in the Cities of Irvine and Newport Beach.

• On or before completion of Lessor's and Lessee's Improvements as provided under Article III hereof, Lessor shall have prepared a new Exhibit "C-1" showing the exact dimensions and net rentable square footage of the Bank Space and Office Space, and the parties hereto shall enter into an amendment to this Lease for the purposes of adding such new Exhibit "C-1".

• Tenant has expressly agreed in this Lease to ---------------------- accept both the Bank Space and the EDS Space, collectively comprising the Premises, in their "AS IS, WHERE IS, WITH ALL FAULTS" condition (except for work to be performed under Section 2.2), and has agreed to complete such tenant improvements as more particularly set forth in Section 2 of this Lease.

• Landlord and Tenant entered into that certain Office Lease dated as of February 7, 2007, (the “Lease”) regarding Retail Bank Space and Office Space (the “Premises”) in the building commonly known as One Victory Park, located at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇, all as more fully described in the Lease.

• Landlord (as successor-in-interest to Block L Land, L.P.) and Tenant entered into that certain Office Lease dated as of February 7, 2007, as amended by that certain First Amendment to Office Lease, dated April 3, 2007 (the “Lease”), regarding Retail Bank Space and Office Space (the “Premises”) in the building commonly known as One Victory Park, located at ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇, all as more fully described in the Lease.

• At a minimum, the Retail Bank Space shall be kept open for business 9:00 a.m. to 5:00 p.m. Monday through Friday and 9:00 a.m. to 1:00 p.m. on Saturday, but in no event a greater number of hours than that permitted by then-applicable law.

• Subject to any decrease in the net rentable square footage of Bank Space pursuant to Section 1.01 hereof, the annual Minimum Rent for any Adjustment Period, determined under subsections (a) and (b) above, shall not be less than the annual Minimum Rent payable during the immediately preceding five (5) lease year period.

• In no event may Tenant install any graphics which may be visible from outside the Premises, other than those located entirely within the interior of the Retail Bank Space and not placed on the exterior or lobby-facing windows of the Retail Bank Space and except as otherwise expressly provided in this Section 8.(f).

• Tenant shall use the Allowance to remodel the Bank Space and the EDS Space to meet its needs and in accordance with the terms and conditions with respect to alterations as more particularly set forth in this Lease.

• To accommodate this Lease for the Premises under ----------- the terms and conditions as provided herein, the existing lease by and between Landlord and the Bank for the Bank Space is due to expire on September 30, 1999, and the existing lease by and between Landlord and EDS for the EDS Space is due to expire on January 31, 2000.