Occupiable Area definition
Occupiable Area means that portion of the gross area which is available for use by an occupant’s personnel or furnishings, including space which is available jointly to the various occupants of the buildings, such as auditoriums, health units, and snack bars. Occupiable area does not include space in the building which is devoted
Occupiable Area means that portion of area on the Podium Roof Deck that is a surface which may be used by Tenant for purpose of walking or sitting (such as decking, lawn, landscaping features suitable for sitting, benches, low walls with tops suitable for sitting and ingress and egress paths), by virtue of a load bearing surface and, if applicable, a certificate of occupancy by local authorities having jurisdiction. Areas on the Podium Roof Deck that have lush vegetation or otherwise cannot be used for walking or sitting are not Occupiable Area. As an example, if Net Rentable Area of the Podium Roof Deck Premises were Ten Thousand (10,000) square feet before adjustment, then the threshold would be Seven Thousand (7,000) square feet (i.e., 10,000 square feet multiplied by 70%). If the Occupiable Area, as determined pursuant to Section 2.04(b) and this Section 3.07(c), were only Six Thousand (6,000) square feet of Net Rentable Area, then the adjustment would be a reduction to Net Rentable Area of the Podium Roof Deck Premises of One Thousand Four Hundred Twenty-Nine (1429) square feet (calculated as the measured Six Thousand (6,000) square feet divided by the Seven Thousand (7,000) square foot threshold multiplied by Ten Thousand (10,000) square feet before adjustment), resulting in the adjusted Net Rentable Area of the Podium Roof Deck Premises being Eight Thousand Five Hundred Seventy-One (8,571) square feet. Landlord shall then prepare and Landlord and Tenant shall execute an amendment to this Lease setting forth the annual and monthly Base Rent of the Podium Roof Deck Premises and the aggregate Net Rentable Area of the Leased Premises, as so determined.
Occupiable Area shall have the meaning given that term in Section 3.07(c).
Examples of Occupiable Area in a sentence
As soon as reasonably possible after the Commencement Date and, if applicable, after any relocation, rearrangement, alteration, addition or reduction of or to the Leased Premises in accordance with this Lease, the Architect shall calculate the actual Occupiable Area and Rentable Area of the Leased Premises.
More Definitions of Occupiable Area
Occupiable Area of the Leased Premises means the area expressed in square feet in a certificate prepared by the Architect, which certificate shall be conclusive and binding subject as herein provided and shall be delivered to the Tenant on or after the commencement of the Term, at which time any adjustment to the area that is required thereby shall be made. The Occupiable Area of Leasable Premises in the Building shall be measured and determined as follows:
(i) in the case of Leasable Premises occupying a whole floor, the Occupiable Area shall be computed by measuring to the inside finish of permanent outer building walls, or from the glassline where at least 50% of the outer building wall is glass, but shall not include stairs (except stairways exclusively serving the premises of a single tenant), elevator shafts, stacks, pipe shafts and vertical ducts with their enclosing walls. Washrooms, air-conditioning rooms, fan rooms, janitors’ closets and electrical closets shall be included in the Occupiable Area. No deductions shall be made for columns and projections necessary to the Building; and
(ii) in the case of premises occupying part of a floor, the Occupiable Area shall be computed by measuring to the inside finish of permanent outer building walls, or from the glassline where at least 50% of the outer building wall is glass, to the premises side of corridors and/or other permanent partitions, and to the centre of partitions that separate the Leasable Premises from adjoining leasable premises. No deduction shall be made for columns and projections necessary to the Building. The foregoing definition shall be read and modified, if necessary, to be in accordance with the standard method of measuring floor area in office buildings as sanctioned by the Building Owners and Managers Association International (BOMA).