Basic Provisions Basic Provisions Clause Samples
The Basic Provisions clause serves to outline the fundamental terms and key information that form the foundation of the agreement. Typically, this section includes essential details such as the names of the parties, the effective date, the property or subject matter involved, and other core contractual elements. By clearly setting out these basic facts at the outset, the clause ensures that both parties have a shared understanding of the agreement’s primary terms, reducing the risk of confusion or disputes over essential details.
Basic Provisions Basic Provisions. 1.1 Premises: Approximately 18,658 rentable square feet (“RSF”) of office space (“Office Space”) in the Building and approximately 21,842 RSF of laboratory space (“Lab Space”) in the Building, as depicted on Exhibit A hereto, for a total RSF of 40,500 (collectively, the “Premises”).
Basic Provisions Basic Provisions. 1.1 Premises: Approximately 3,423 rentable square feet (“RSF”) of clean room space (“Clean Room Space”) in Section C1 of the Building, approximately 11,851 RSF of office space (“Office Space”) in Section S1 of the Building, approximately 12,709 RSF of laboratory space (“Lab Space”) in Section L1 of the Building, approximately 5,725 RSF of office space (“Office Space”) in Section S2 of the Building, approximately 7,948 RSF of office space (“Office Space”) in Section E2 of the Building and approximately 765 RSF of storage space (“Storage Space”) in the Building, all as depicted on Exhibit A hereto, for a total RSF of 42,421 (collectively, the “Premises”). The portion of the Premises consisting of (a) approximately 5,725 RSF in Section S2 of the Building, and (b) approximately 7,948 RSF in Section E2 of the Building, as the same are depicted on Exhibit A hereto are collectively called herein, the “New Office Space”.
Basic Provisions Basic Provisions