Existing Area definition
Examples of Existing Area in a sentence
Provided it has fully complied with all the terms, covenants and conditions of this Lease, Tenant shall have the option to renew the same either for the Existing Area or the Additional Area, or both, for a five (5) year term commencing July 1, 2007 and terminating June 30, 2012 (the Option Period); provided however, that written notice of exercise of the option shall be given by Tenant to Landlord at least six (6) months prior to the end of the term of this extended Lease.
Subject to Sections 3.4 and 4.3 hereof, for the period beginning on the Commencement Date and ending on December 31, 2019, the Sub-subtenant shall pay to the Sub-sublandlord, without any deduction, set-off or abatement whatsoever, except as may be otherwise provided herein, a basic rent (the “Basic Rent”) for the Premises in the amount of $14.50 per square foot of Rentable Area of the Existing Area per year and $13.50 per square foot of Rentable Area of the New Area per year.
The initial amounts shall be as follows: Common Area Maintenance $0.04 per square foot $84.00/month Taxes $0.62 per square foot $1,302.00/month Insurance $0.04 per square foot $84.00/month Management Fee $0.14 per square foot $294.00/month The above amounts shall be in addition to Tenant’s Rent and Operating Expense obligations on the Existing Area.
Guarantor hereby absolutely, irrevocably and unconditionally guarantees the due and punctual performance when due of all agreements and obligations of ▇▇▇ (including, without limitation, any obligation for the payment of money) under the Agreement and under the Area One JOA, Vista ▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇, any Area Two JOA, Existing Area Three ▇▇▇▇, any Area Three JOA, and Area Four JOA (collectively referred to as the “Guaranteed Obligations”).
The Existing Area License Agreements, taken together with the Type 3 Area License Agreements, constitute all of the Area License Agreements to which the Seller or any Affiliate thereof is a party.
PLB shall be allowed to rehabilitate the Additional Area prior to or concurrently with the Rehabilitation Works on the Existing Area.
Guarantor hereby absolutely, irrevocably and unconditionally guarantees the due and punctual performance when due of all agreements and obligations of Summit (including, without limitation, any obligation for the payment of money) under the Agreement and under the Area One JOA, Vista ▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇, any Area Two JOA, Existing Area Three ▇▇▇▇, any Area Three JOA, and Area Four JOA (collectively referred to as the “Guaranteed Obligations”).