AVR Requirements Applicable to Creative Office Phase Sample Clauses

AVR Requirements Applicable to Creative Office Phase. During any time when only one Creative Office Building has received a Certificate of Occupancy, the Developer owning such Creative Office Building shall achieve an average vehicle ridership (“AVR”) of 2.0 (the “Creative Office AVR Requirement”) by the second anniversary after issuance of such Certificate of Occupancy for employees of the tenants of the first Creative Office Building (the “Creative Office Occupants”). Developer owning such Creative Office Building shall continue to achieve and maintain the Creative Office AVR Requirement, except as provided in Section 2.7.1(d)(2) below. Developer shall determine the AVR by October 1 of each calendar year (“AVR Report”) commencing with receipt of the Certificate of Occupancy for such Building. The initial AVR Report may be deferred to October 1 of the subsequent year if less than 90 days have passed since issuance of such Certificate of Occupancy.
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