Parking Permit Number definition
Parking Permit Number means 1 multiplied by the total rentable square footage of the Premises, and then divided by 2,500. Notwithstanding the foregoing, Landlord shall have the right, by written notice to Tenant, (i) to adjust the Parking Permit Number with respect to the rentable square footage of the Lower Level Space and Suite 200 after December 1, 2019 (the “First Parking Adjustment Date”) to equal Tenant’s average monthly utilization of the Landlord Parking Facility during the prior 12-month period of occupancy of the Premises (provided the First Parking Adjustment Date shall be pushed back on a day-for-day basis for each day that the Delivery Date is delayed beyond December 1, 2017); and (ii) to adjust the Parking Permit Number with respect to the rentable square footage of Suite 300 only after December 1, 2020 (the “Second Parking Adjustment Date”) to equal Tenant’s average monthly utilization of the Landlord Parking Facility with respect to Suite 300 only (i.e. exclude from Tenant’s average monthly utilization of the Landlord Parking Facility the Parking Permit Number determined in accordance with (i) above) during the prior 12-month period of occupancy of the Premises (provided the Second Parking Adjustment Date shall be pushed back on a day-for-day basis for each day that the Suite 300 Delivery Date is delayed beyond May 1, 2019). Notwithstanding anything herein to the contrary, if Tenant expands the Premises at any time during the Term, the Parking Permit Number shall increase in accordance with the ratio provided above with respect to the expansion space and Landlord shall have the right, by written notice to Tenant to adjust the Parking Permit Number with respect to such additional space on the date that is one (1) year following the date Tenant occupies the expanded space for the operation of Tenant’s business, to equal Tenant’s average monthly utilization of the Landlord Parking Facility with respect to such expanded space only during the prior 12-month period of occupancy of the Premises.
Examples of Parking Permit Number in a sentence
Name Relation to Head Of Household Sex M/F Birth Date Social Security Number Vehicle License Number Parking Permit Number Driver’s License Number INS Status *PHA will only document family member INS status for program eligibility only on this application.