Definition of Rentable Area of the Premises


Rentable Area of the Premises shall mean 156,535 agreed square feet comprised of the Shop Space, the Non-Shop Space and the Out Building, but excluding the Basement Space.
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Examples of Rentable Area of the Premises in a sentence

In the event a part of the Building or the Premises is taken or condemned by any competent authority (or a deed is delivered in lieu of condemnation) and this Lease is not terminated, the Lease shall be amended to reduce or increase, as the case may be, the Monthly Base Rent and Tenants Share to reflect the Rentable Area of the Premises or Building, as the case may be, remaining after any such taking or condemnation.
Effective as of the date of recapture of any portion of the Premises pursuant to this section, the Monthly Base Rent, Rentable Area of the Premises and Tenants Share shall be adjusted accordingly.
Such share is a fraction, the numerator of which is the Rentable Area of the Premises, and the denominator of which is the Rentable Area of the Project, as determined by Landlord from time to time.
If this Lease continues in force upon such partial taking, the Base Rent and Tenant's Proportionate Share shall be equitably adjusted according to the remaining Rentable Area of the Premises and Project.
If Tenant proposes to sublease less than all of the Rentable Area of the Premises, the space proposed to be sublet and the space retained by Tenant must each be a marketable unit as reasonably determined by Landlord and otherwise in compliance with all Laws.