Minority Occupant definition

Minority Occupant has the meaning ascribed to such term in the definition of the term “Allocation Principle.”

Minority Occupant means the Party that occupies 20 percent or less of the total Building square footage on the Effective Date of this Agreement. For purposes of this Agreement, the AOC is the Minority Occupant.

Minority Occupant means, with respect to any Property, the Party that is not the Majority Occupant of such Property.

Examples of Minority Occupant in a sentence

• The Compensation for the Equity Purchase is,which amount will be paid by the Majority Occupant to the Minority Occupant [in a lump sum on the earlier of (1) the date that the Minority Occupant actually vacates the Building, or (2) the date on which the Grant Deed is recorded in connection with the transfer of title under the Transfer Agreement.] OR [describe].3.3 Relocation Costs.

• The Majority Occupant has elected to exercise its right to require the Minority Occupant to vacate the Building under section of the Act and has given the Minority Occupant reasonable notice of its election to so exercise.3.2 Compensation.

• In no event will the Majority Occupant be responsible for any costs incurred by the Minority Occupant in searching for, identifying, leasing, purchasing, improving, furnishing, or otherwise preparing for occupancy the Minority Occupant’s alternate premises, including without limitation, any brokerage commissions, fees, closing costs, tenant improvement costs, or consultant’s fees.

• Continuity being one of the conditions of effi- ciency, long-term educational programmes should follow and continue the general lines indicated in the present programme.

• The Majority Occupant will be responsible for the moving expenses of the Minority Occupant at the fair market rate.

More Definitions of Minority Occupant

Minority Occupant means, with respect to any Property, each of the Parent business units and SpinCo that is not the Majority Occupant of such Property.