Definition of Premises Rentable Area


Premises Rentable Area means 42,330 square feet of rentable area comprised of (a) 29,974 rentable square feet of Initial Premises and (b) 12,356 rentable square feet of Additional Premises. Landlord and Tenant hereby stipulate to the Premises Rentable Area. The parties hereby acknowledge and agree that the rentable area of the Premises is calculated by dividing the useable square footage of the Premises by 0.87 (representing a loss factor of 13%).
Sample 1

Examples of Premises Rentable Area in a sentence

PREMISES 10,980 (+/-50) square feet of Premises Rentable Area in the DESCRIPTION AND Building, substantially as shown on Exhibit 3.
EXISTING PREMISES: An area containing 1.0,980 (+/-50) square feet of Premises Rentable Area located on the second (2nd) floor of the Building, substantially as shown on Exhibit 3 to the Lease.
ORIGINAL LEASE EXECUTION DATE: October 26, 1992 LEASE DATA: PREVIOUS LEASE None AMENDMENTS: ADDITIONALPREMISES: An area containing 8,830 square feet of Premises Rentable Area located on the second (2nd) floor of the Building, substantially as shown as the "RFO Premises" on Exhibit 3 to the Lease.
Premises Rentable Area: Approximately, but no greater than 10,000 rentable square feet.
Subject to adjustment under Section 3.3, the Premises Rentable Area as of the Lease Date is estimated to be 210,184 rentable square feet.