Specialty Space definition
Specialty Space means the aggregate leasable area attributable to retail units of less than 400 sq m each and where the term of the lease is generally for more than 12 months. For the avoidance of doubt, the rental guarantees do not depend on the length of the lease term. The description of the Specialty Space as being leases where the term of the lease is generally for more than 12 months is just a general description for such leases, and the rental guarantees will cover Specialty Space leases regardless of their lease period. The rental guarantees will be effective in respect of all tenants that are classified as tenants under the Specialty Spaces and Casual Leasing Spaces.
Specialty Space means the so called Display Area, Learning Center/White Coats Room and Network Services Center located on the second floor of the Building, containing not more than 4,750 square feet of usable area in the aggregate, and as to which Seller and Tenant have agreed in writing that Tenant, and not Seller, is responsible for the completion of tenant improvements therein at Tenant's cost.
Specialty Space means a License Area that (i) requires a special agreement because the space will not be used for normal office seats but rather for special purpose uses, such as labs, conference rooms, or customer briefing centers or (ii) is for office space that has in excess of 100 seats, which will require its own lease or sublease. The Parties can agree in a Leasing Memorandum to different terms governing a License Area than as contemplated by Section 2 and Section 3 hereof, and such Leasing Memorandum terms will prevail in the event of a conflict.
Examples of Specialty Space in a sentence
With respect to Demised Space or Specialty Space, if requested by Licensor installations and alterations that were made by or on behalf of Licensee, ordinary wear and tear, fire and other casualty excepted will be restored to the condition required by such restoration provisions of the related Lease and otherwise comply with the surrender provisions of the Lease to the extent applicable to the License Area.