National Franchises or National Chains Sample Clauses

National Franchises or National Chains. In selecting the commercial/retail operations at the Development, the Owner shall limit the amount of space occupied by national franchises or national chains to not more than 70% of the total retail/commercial space in the Development, with 30% or more of the commercial/retail mix as local businesses. For purposes of this paragraph, a local business is a business from the Minneapolis/St. Xxxx 7-county metropolitan area and does not include a local business owner of a franchise of a national chain. If Owner is unable to market 30% or more of commercial/retail space to local businesses, resulting in a vacancy greater than 60 days, or the Owner demonstrates to LCC that the Owner has actively marketed the space to local businesses for at least six consecutive months without being able to fill the space with a local business, the Owner may lease or convey the vacant space to a franchise or national chain business. However, the 30% or greater reserved local business space requirement is not eliminated, and Owner must continue to meet this requirement each time an open space becomes available in the Development. Owner shall provide to LCC proof of marketing efforts upon request.
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Related to National Franchises or National Chains

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  • Washtenaw Community College Eastern Michigan University Xxxxxx Xxxxxxxxxx College of Engineering & Technology Student Services BE 214 xxx_xxxxxxxx@xxxxx.xxx; 734.487.8659 734.973.3398

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