Suitable Properties definition

Suitable Properties are defined as (x) developed commercial real estate properties (i) where at least eighty-five percent (85%) of the net rentable area is allocated for office use, (ii) that have leases in place for at least eighty-five percent (85%) of the net rentable area of the building, and (iii) with leases that have, in the aggregate, a weighted average (based on square footage) of at least three years remaining at the time of acquisition or (y) any underdeveloped or unimproved real property that is contiguous to a property owned by the Company. The acquisition, ownership and operation of Suitable Properties and any New Business are collectively referred to as the “Business”. The Executive also acknowledges that (i) the Company knows of a limited number of persons who have developed the Business; (ii) the Business is, in part, national in scope; (iii) the Executive’s work for the Company and its subsidiaries has given and will continue to give the Executive access to the confidential affairs, proprietary information and trade secrets of the Company; (iv) the covenants and agreements of the Executive contained in this Section 15 are essential to the business and goodwill of the Company; and (v) the Company would not have entered into this Agreement but for the covenants and agreements set forth in this Section 15.

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Suitable Properties means branded hotel properties in close proximity to airports, highway interchanges, railroads other transportation hubs and other demand generators providing select and limited service lodging to corporate and leisure travelers;

Suitable Properties means (x) developed commercial real estate properties (i) where at least 85% of the net rentable area is allocated for office use, (ii) that have leases in place for at least 85% of the net rentable area of the building and (iii) with leases that have, in the aggregate, a weighted average (based on square footage) of at least three years remaining at the time of acquisition or (y) any undeveloped or unimproved real property that is contiguous to a property owned by the Company.

Examples of Suitable Properties in a sentence

• The Executive acknowledges that on the Effective Date the principal business of the Company is acquiring, owning and operating Suitable Properties.

• The acquisition, ownership and operation of Suitable Properties and any New Business are collectively referred to as the “Business”.

• Suitable Properties will be determined in the sole discretion of the General Partner.

• The Developer shall only provide development services, as set forth herein, in connection with the development of Suitable Properties, and nothing in this Agreement shall be construed as requiring or permitting the Developer or any Subsidiary to provide any service that is in the nature of an advisory service, including but not limited to overall asset management services, due diligence services, portfolio or investment advisory services, or any similar advisory service.

• Subject only to the exception for Third Party Developments set forth in Section 3.4, AHIP hereby covenants and agrees that the Developer shall have the exclusive right to develop any Suitable Properties for AHIP and its Subsidiaries in accordance with this Agreement.

More Definitions of Suitable Properties

Suitable Properties means (x) developed commercial real estate properties (i) where at least 85% of the gross leasable area is allocated for office use, (ii) that have leases in place for at least 85% of the gross leasable area of the building and (iii) with leases that have, in the aggregate, a weighted average (based on square footage) of at least three years remaining at the time of acquisition or (y) any undeveloped or unimproved real property that is contiguous to a property owned by us.

Suitable Properties has the meaning set forth in the Prospectus;

Suitable Properties means hotel properties in close proximity to airports, highway interchanges, other transportation hubs and other demand generators providing select and limited-service lodging to corporate, traveler, crew and contractual customers.