Permitted Closure definition

Permitted Closure means a closure required for the performance of maintenance, as provided in the Technical Requirements.

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Permitted Closure means to fail to operate the entire or substantially all of a Property as a result of (i) a Casualty or Condemnation, (ii) a Remediation, (iii) a major remodeling of a Property (not to occur more often than one (1) time per every five (5) year period and for no longer than ninety (90) consecutive days), (iv) any material repairs, replacements, improvements or alterations to a Property (not to exceed thirty (30) consecutive days), or (v) a Force Majeure Event (not to exceed sixty (60) consecutive days).

Permitted Closure shall have the meaning set forth in Section 5.08 hereof.

Examples of Permitted Closure in a sentence

• While the Development Rights are in effect, Master Franchisee will be entitled to receive a credit in the amount of the unused portion of the Direct-Owned Restaurant Unit Fee paid for a Permitted Closure Restaurant previously operated by Master Franchisee (the “Direct-Owned Restaurant Fee Credit”).

• The Direct-Owned Restaurant Fee Credit will be calculated on a pro rata basis as follows: the Direct-Owned Restaurant Unit Fee originally paid by Master Franchisee for the Permitted Closure Restaurant divided by the number of years of the Unit Addendum Term for the Permitted Closure Restaurant, multiplied by the full period remaining in the term of the Permitted Closure Restaurant.

• Master Franchisee has the sole discretion to determine which Direct-Owned Restaurants are designated as Permitted Closure Restaurants [****].

• The period for exercising appraisal rights ---------------- pursuant to Section 262 of the Delaware Corporation Law ("Appraisal Rights") ---------------- shall have lapsed and holders of not more than 5% of the outstanding shares of Lightscape Common and Lightscape Preferred shall have exercised Appraisal Rights.

• The Tenant shall use the Premises only for the Authorised Use (and shall continuously operate them for such purpose throughout the Term save for any period of closure which is a Permitted Closure) and shall not close the Premises (other than where (save on account of a breach of clause 17.1) it would be unlawful to keep them open or the closure is a Permitted Closure) without the consent of the Landlord such consent not to be unreasonably withheld or delayed.

More Definitions of Permitted Closure

Permitted Closure the Premises are vacant and unoccupied (i) in consequence of any damage or destruction, but only for the period of time reasonably required to complete repair and restoration of same; or (ii) for the purpose of carrying out Alterations approved by the Landlord, but only for the period of time reasonably required to complete same; or (iii) for the purpose of carrying out repairs or decorations to enable the Tenant to comply with clause ‎7.1 where such repairs or decorations cannot reasonably be carried out without closure of the Premises, but only for the period of time reasonably required to complete same or (iv) where such closure is in accordance with good operational practice on account of infectious diseases or similar circumstances; or (v) where such closure is otherwise permitted pursuant to clause ‎9.1.

Permitted Closure means to fail to operate the entire or substantially all of a Property as a result of (i) a Casualty or Condemnation, (ii) a Remediation, (iii) a major remodeling of a Property (not to occur more often than one (1) time per every five (5) year period and for no longer than ninety

Permitted Closure means any period in which the Costco Facility is not open for business to the public (subject to Costco’s membership policies) for hours of operation consistent with Costco’s other facilities in the State of Texas as:

Permitted Closure means any closure resulting from the following: (i) legal (state and federal) holidays, (ii) repairs arising from casualty or condemnation, (iii) remodeling or alterations under Article 8, or (iv) compliance with applicable law, ordinance or government regulation. If the main entrance to the Restaurant is from the Building lobby, then Landlord shall, at Landlord’s sole cost and expense prior to the opening of such Restaurant, relocate the security turnstiles to preclude Restaurant patrons from having access to the elevator lobby serving the Premises. In any event, there will be no entrance or exit to the Restaurant where patrons will have access to the elevator lobby serving the Premises. Landlord and Tenant agree and acknowledge that examples of restaurants considered consistent with a Class A office complex include, but are not limited to, Gibsons, Capital Grille, ▇▇▇▇▇ Carry, ▇▇▇▇’▇, Le Colonial, Avec, Girl and the Goat, Pour House, Bakersfield, Maggiano’s, Sullivan’s, ▇▇▇▇’▇ ▇▇▇▇▇, Brio, Rosebud, Doc B’s and Starbucks, as such restaurants are operated as of the date of this Lease, and examples of Restaurants that are not considered consistent with a Class A office complex include, but are not limited to, Hooters, Bennigans, TGIFriday’s, Chili’s and Cheesecake Factory, as such restaurants are operated as of the date of this Lease.

Permitted Closure means a closure of all or any portion of the Museum or the Premises to the extent caused by one or more of the following causes: (i) one or more causes of Unavoidable Delays, but only for the time period(s) arising as a direct result of such cause; (ii) Restoration, provided such Restoration shall be performed (A) in a diligent and continuous manner and (B) otherwise in accordance with the provisions of this Lease governing Restoration; (iii) Chiller Plant Platform Work, provided that such closure shall be limited to the portion of the Premises so affected); and (iv) Major Construction Work or other required repairs to the Premises, provided

Permitted Closure means any period in which the Costco Facility is not open for business to the public (subject to Costco’s membership policies) for hours of operation consistent with Costco’s other facilities in the State of Texas as: (1) a result of a fire, earthquake, flood or similar casualty that renders the Costco Facility unfit for the intended purpose, as determined by Costco in its reasonably exercised judgment; (2) a result of an event of Force Majeure; (3) a result of a condemnation or other exercise by a governmental authority of the power of eminent domain, to the extent necessary to as determined by ▇▇▇▇▇▇ in its reasonably exercised judgment for repair and restoration of the Costco Facility; (4) a result of any repairs, renovations, alterations or modifications to the Costco Facility made by Costco with the intention of recommencing operations in the Costco Facility; or, (5) required by law, to the extent, and only to the extent, that the necessity of compliance is not the result of Costco’s action, inaction, or failure to timely fulfill its obligations under this Agreement.

Permitted Closure has the meaning set forth in Section 2.8 of Exhibit 8 (Payment Mechanism).