Substantial Portion of the Premises definition

Substantial Portion of the Premises means (a) twenty percent (20%) or more of the ground floor square footage area of the Building, or (b) the permanent denial of all driveway access onto the abutting public streets and Landlord is unable to provide substitute space or driveway access within reasonable proximity to the Premises.
Sample 1
Substantial Portion of the Premises in respect of a Casualty, shall mean a Casualty that renders the Premises (including, without limitation, parking, ingress, egress or access to the Premises or any portion thereof) unsuitable for the continued feasible and economic use by Lessee for substantially the same purposes as immediately prior to such Casualty, as determined in Lessee’s reasonable business judgment.
Sample 1
Substantial Portion of the Premises in respect of a Taking, shall mean a Taking affecting so much of the Premises (including, without limitation, parking, ingress, egress or access to the Premises or any portion thereof) as, when taken, after giving consideration to the anticipated Restoration, leaves the untaken portion unsuitable for the continued feasible and economic operation of the Premises by Lessee for substantially the same purposes as immediately prior to such Taking, as determined in Lessee’s reasonable business judgment.
Sample 1

Examples of Substantial Portion of the Premises in a sentence

  • In the event a Temporary Taking is for all or Substantial Portion of the Premises and is for a period of more than ninety(90) days, the Tenant shall have the right to terminate this Lease by giving written notice of its intention to terminate within thirty (30) days of the Date of Taking.

  • If a Substantial Portion of the Premises is taken by eminent domain or deed in lieu thereof, then Tenant may terminate this Lease effective as of the date of the taking.

  • For purposes of this Section 9 "Substantial Portion" of the Premises shall mean more than 25% of the rentable square footage of the Premises.

  • The term "Delivery Date" means the date on which Landlord delivers to Tenant possession of a Substantial Portion of the Premises for the performance of the Tenant's Work (as hereinafter defined) in the state or condition required by this Lease.

  • If a Substantial Portion of the Premises is permanently taken in eminent domain, the Landlord or Tenant shall have the option to terminate this Lease by giving written notice of such election to Landlord within thirty (30) days after the Date of Taking.

  • If less than a Substantial Portion of the Premises is damaged by fire or other casualty ("Casualty"), Landlord shall repair and restore the damaged portion of the Premises to substantially the same condition prior to such Casualty within one hundred eighty (180) days after the date of such Casualty, except that Landlord shall not be required to repair or restore any leasehold improvements installed in the Premises by Tenant.

  • Tenant shall have the obligation to take possession of a Substantial Portion of the Premises promptly after Landlord delivers the same to Tenant.


More Definitions of Substantial Portion of the Premises

Substantial Portion of the Premises. , in respect of a Casualty, shall mean a Casualty that renders the Premises (including, without limitation, parking, ingress, egress or access to the Premises or any portion thereof) unsuitable for the continued feasible and economic use by Lessee for substantially the same purposes as immediately prior to such Casualty, as determined in Lessee’s reasonable business judgment.
Sample 1
Substantial Portion of the Premises. , in respect of a Taking, shall mean a Taking affecting so much of the Premises (including, without limitation, parking, ingress, egress or access to the Premises or any portion thereof) as, when taken, after giving consideration to the anticipated Restoration, leaves the untaken portion unsuitable for the continued feasible and economic operation of the Premises by Lessee for substantially the same purposes as immediately prior to such Taking, as determined in Lessee’s reasonable business judgment.
Sample 1

Related to Substantial Portion of the Premises

  • Substantial Portion means, with respect to the Property of the Borrower and its Subsidiaries, Property which (i) represents more than 10% of the consolidated assets of the Borrower and its Subsidiaries as would be shown in the consolidated financial statements of the Borrower and its Subsidiaries as at the beginning of the twelve-month period ending with the month in which such determination is made, or (ii) is responsible for more than 10% of the consolidated net sales or of the consolidated net income of the Borrower and its Subsidiaries as reflected in the financial statements referred to in clause (i) above.

  • Substantial rehabilitation means, with respect to the SAIL Program, to bring a Development back to its original state with added improvements, where the value of such repairs or improvements (excluding the costs of acquiring or moving a structure) exceeds 40 percent of the appraised as is value (excluding land) of such Development before repair and less than 50 percent of the proposed construction work consists of new construction. For purposes of this definition, the value of the repairs or improvements means the Development Cost. To be considered “Substantial Rehabilitation,” there must be at least the foundations remaining from the previous structures, suitable to support the proposed construction.

  • Substantial improvement means any combination of repairs, reconstruction, rehabilitation, addition, or other improvement of a structure, taking place during any one-year period for which the cost equals or exceeds 50 percent of the market value of the structure before the “start of construction” of the improvement. This term includes structures which have incurred “substantial damage”, regardless of the actual repair work performed. The term does not, however, include either:

  • the Premises means the building or part of the building booked and referred to in the contract

  • Substantial Taking means a Taking of at least 15% of the Land or Improvements which, in Lessee’s and Lessor’s reasonable judgment, will materially and adversely interfere with any development or use of the Premises that Lessee is then conducting or intends in good faith to conduct in the future.

  • Leased Premises means the Leased Premises as defined in Paragraph 1.

  • Substantial Change means a change to the terms of this Agreement that reduces your rights or increases your responsibilities.

  • On the premises where stored with respect to heating oil means UST systems located on the same property where the stored heating oil is used.

  • Rentable Area of the Premises The amount of square footage set forth in Section 1.01(10).

  • Premises means the location where the Services are to be supplied, as set out in the Specification.

  • Leased Property shall have the meaning given such term in Section 2.1.

  • Premises Building Total Destruction means if the Building of which the Premises are a part is damaged or destroyed to the extent that the cost to repair is fifty percent (50%) or more of the then Replacement Cost of the Building.

  • Demised Premises or “Premises” (and whether or not capitalized) is used herein, it shall be understood to mean the “premises leased hereby”; and whenever the term “Entire Premises” is used herein (and whether or not capitalized), it shall be understood to mean all of the contiguous land and buildings owned by Landlord at this location, which include the premises leased hereby. The term “Non-leased Premises” shall mean the Entire Premises less the Leased Premises.

  • Premises Total Destruction means damage or destruction to the Premises, other than Lessee Owned Alterations and Utility Installations and Trade Fixtures, which cannot reasonably be repaired in six (6) months or less from the date of the damage or destruction. Lessor shall notify Lessee in writing within thirty (30) days from the date of the damage or destruction as to whether or not the damage is Partial or Total.

  • Occupant means any person or persons over the age of eighteen years in possession of the property.

  • Reconstruction means the replacement of components of an existing facility to such an extent that:

  • Substantial Part means properties and assets involved in any single transaction or a Series of Related Transactions having an aggregate fair market value of more than ten percent (10%) of the total consolidated assets of the Person in question as determined immediately prior to such transaction or Series of Related Transactions.

  • Subleased Premises means approximately -18;961 rentable square feet on the 141h floor of the Building, as more specifically depicted on Exhibit A attached hereto and made a part hereof. The Subleased Premises include all of the Leased Premises identified in the Prime Lease.

  • Substantial or essential component means any component necessary for the proper function or performance of a piece of equipment, system, or service.

  • the Building means any building of which the Property forms part.

  • Substantial alteration means an alteration that has a major impact on the architectural features, characteristics, appearance, or integrity of a structure or lot. The term does not include routine maintenance that is reasonably necessary to maintain a dealership facility in attractive condition and does not include any changes to items protected by federal intellectual property rights.

  • Material Portion has the meaning set forth in Section 6.13(c).

  • residential premises means a house, building, structure, shelter, or mobile home, or portion thereof, used as a dwelling, home, residence, or living place by 1 or more human beings. “Residential premises” includes an apartment unit, a boardinghouse, a rooming house, a mobile home, a mobile home space, and a single or multiple family dwelling, but does not include a hotel, a motel, motor home, or other tourist accommodation, when used as a temporary accommodation for guests or tourists, or premises used as the principal place of residence of the owner and rented occasionally during temporary absences including vacation or sabbatical leave.

  • Office Space means the offices of the Service Provider located at 000 Xxxx Xxxxxx, Xxxxx 00, Xxx Xxxx, Xxx Xxxx 00000 (or any successor location or other existing office space of the Service Provider or any of its affiliates).

  • Untenantable means that Tenant shall be unable to occupy and shall not be occupying the Premises or the applicable portion thereof for the conduct of business ordinarily conducted in the Premises as a result of the Casualty.

  • Substantial action means adopting, publicizing, and implementing a formal plan to cease scrutinized business operations within 1 year and to refrain from any new business operations.