Minimum Floor Area definition
Minimum Floor Area means the lesser (A) of fifty percent (50%) of the total floor area of the rentable office space in the Building, (B) or the number of square feet of floor area Tenant was actually occupying prior to the damage or destruction. For purposes of determining the number of years constituting the balance of the Term following any such damage or destruction, any unexercised Renewal Term may be included in such determination so long as Tenant exercises such Renewal Term in accordance with the notice provisions set forth in Section 1.2 within ten (10) days from the date of Tenant’s receipt of the Restoration Notice. Landlord reserves the right to enter upon the Demised Premises for the purpose of making the Restoration during regular business hours or otherwise and to temporarily close doors, entryways, spaces, and corridors and to interrupt or temporarily suspend services and facilities of the Demised Premises. No entry by Landlord in making any of Landlord’s Restoration shall be deemed an eviction or disturbance of Tenant’s use or possession, or render Landlord liable for damages, by abatement of rent or otherwise or relieve Tenant from any obligation herein set forth. Tenant shall take such action as clean-up or removal of its property if such action is reasonably necessary in connection with the Restoration.
Examples of Minimum Floor Area in a sentence
Minimum Floor Area • The home must have a minimum internal floor area of 180m2.
Minimum Floor Area • The home must have a minimum internal floor area of 160m2.
Minimum Floor Area needed Term of Franchise Agreement Franchise Agreement is renewable.