Parking Privileges. Parking privileges shall be made available to Tenant in the Garage by Garage Expansion Owner, LP, a Delaware limited partnership (together with its successors and assigns, the “Garage Owner”), and Garage Expansion Developer, LLC, a Delaware limited liability company (together with its successors and assigns, the “Garage Ground Tenant”), as the ground tenant of the Garage Expansion Parcel (as defined in the Declaration), for one (1) passenger automobile for every three thousand (3,000) square feet of Rentable Floor Area in the Premises from time to time (the “Parking Ratio”) for the parking of motor vehicles in unreserved stalls in the Garage by Tenant’s employees commencing on the Commencement Date of the Term. On or before the Commencement Date, Tenant shall provide written notice to Landlord stating the total number of parking privileges (not to exceed the Parking Ratio) that Tenant elects to use (as it may be adjusted pursuant to this Section 10.1, the “Total Number of Parking Privileges”). All parking privileges shall be unassigned, non-reserved parking privileges. If Tenant fails to provide such written notice to Landlord on or before the Commencement Date, then the Total Number of Parking Privileges shall be deemed to be twenty two (22) (i.e., one (1) for every three thousand (3,000) square feet of Rentable Floor Area in the Premises as of the Commencement Date). If the Total Number of Parking Privileges is fewer than twenty two (22), then Tenant shall be deemed to have waived its right to the additional parking privileges (subject to adjustment of the Total Number of Parking Privileges, as provided below). If the Rentable Floor Area of the Premises increases or decreases at any time during the Lease Term, then, unless otherwise agreed in writing by Landlord and Tenant, the number of unreserved parking stalls to which Tenant is entitled under this Lease shall be increased or reduced, as applicable, proportionately therewith. On an annual basis, Tenant may increase or decrease the Total Number of Parking Privileges by up to ten (10) spaces per year, but Tenant may never increase the Total Number of Parking Privileges in excess of the Parking Ratio. To increase or decrease the Total Number of Parking Privileges, Tenant shall give written notice to Landlord on or before October 1 of the immediately preceding calendar year, and any such adjustment shall be effective as of January 1 of the immediately following calendar year and shall remain in effect for the entirety of such calendar year. If Tenant does not provide written notice of any adjustment to the Total Number of Parking Privileges by October 1 in any year, then there shall not be any adjustment to the Total Number of Parking Privileges for the following calendar year.
Appears in 1 contract
Samples: Lease Agreement (Rapid7, Inc.)
Parking Privileges. Parking privileges Commencing on the Commencement Date and continuing throughout the Term, Landlord shall be made available provide to Tenant monthly parking privileges in the Garage by Garage Expansion Owner, LP, a Delaware limited partnership underneath the Building (together with its successors and assigns, the “Garage OwnerGarage”), and Garage Expansion Developer, LLC, based upon a Delaware limited liability company (together with its successors and assigns, the “Garage Ground Tenant”), as the ground tenant ratio of the Garage Expansion Parcel (as defined in the Declaration), for one (1) passenger automobile parking pass for every three thousand (3,000) each 1,000 rentable square feet of Rentable Floor Area in the Premises from time to time (the “Parking Ratio”) Premises, for the parking of motor passenger vehicles in unreserved (except as set forth herein) stalls in the Garage by Tenant’s employees commencing on and employees of permitted assignees and subtenants in the Commencement Date Building, at 000 Xxxxxxxx, 00 Xxxxxxxx xx Xxxxxxxxx, Xxxxxxxxxxxxx and any other building owned by Landlord or its affiliates in the Xxxxxxx Square area of Cambridge, Massachusetts (“Eligible Holders”). In connection with the foregoing, it is understood and agreed that Landlord and/or Landlord’s affiliates shall have the right to relocate the parking privileges granted to Tenant under other leases in the Development Area to the Garage, so long as the Parking Experience Standard (as hereinafter defined) is maintained both before and after such relocation. The parking experience of Eligible Holders shall be reasonably consistent with the parking experience then being provided in other garages in the Development Area (the “Parking Experience Standard”). Without limitation, the Parking Experience Standard shall ensure that Eligible Holders will not be subject to unreasonable wait times to drop off or pick up their vehicle, if applicable, or to enter or exit the Garage. Notwithstanding the foregoing or anything herein to the contrary, Xxxxxx’s parking privileges and the Parking Experience Standard shall be subject to all conditions and controls imposed by the Parking and Transportation Demand Management Plan of the TermCity of Cambridge (the “PTDM Plan”). On or before Upon issuance of the Commencement DatePTDM Plan, Landlord shall deliver a copy of the same to Tenant. Landlord shall comply with the conditions and controls of the PTDM Plan, and compliance with the PTDM Plan shall in no way constitute a failure of Landlord to satisfy its obligations under this Article X. Tenant shall provide written notice comply with the conditions and controls of the PTDM Plan applicable to Landlord stating parking users of the total number Garage. Subject to the provisions of parking privileges (not to exceed the Parking Ratio) that Tenant elects to use (as it may be adjusted pursuant to this Section 10.1, and except to the extent required to comply with any applicable laws, Tenant shall have exclusive use of all parking privileges in the Garage as long as (i) Tenant leases all of the Office Portion of the Building (and any portions of the Premises subject to one or more subleases consented to by Landlord or permitted without Landlord’s consent under Article XII below shall still be considered to be leased by Tenant), and (ii) Landlord has provided to Eligible Holders pursuant to this Lease or other leases in the Development Area between Tenant and one or more affiliates of Landlord a total of at least six hundred (600) parking privileges (or such lesser number as may be permitted by the PTDM Plan and/or Legal Requirements) (as so determined, the “Total Number of 600 Parking Privileges”). All parking privileges shall be unassigned, non-reserved parking privileges. If In the event that Landlord or an affiliate of Landlord has not issued to Tenant fails to provide such written notice to Landlord on or before passes for the Commencement Date, then the Total Number of Parking Privileges shall be deemed to be twenty two (22) (i.e., one (1) for every three thousand (3,000) square feet of Rentable Floor Area in the Premises as of the Commencement Date). If the Total Number of Parking Privileges is fewer than twenty two (22), then Tenant shall be deemed to have waived its right to the additional parking privileges (subject to adjustment of the Total Number of 600 Parking Privileges, as and provided belowthe Parking Experience is and shall be maintained, Landlord shall have the right to provide parking privileges in the Garage to other parties (the “Non-Tenant Parking Privileges”). If Tenant may convert up to fifteen (15) of its unreserved parking passes to passes for reserved parking spaces in the Garage (the “Reserved Garage Passes”) for certain of its employees or for other uses as set forth in this Article X. Landlord will use reasonable efforts, by the use of signs and markings, to designate such reserved spaces, but shall not be otherwise obligated to police the use of such reserved spaces, which Tenant recognizes is to be operated on a self-parking basis. In the event that the Rentable Floor Area of the Premises decreases or increases or decreases at any time after the Commencement Date and during the Lease Term, then, unless otherwise agreed in writing by Landlord and Tenant, the number of parking privileges shall be reduced or increased at a ratio of one (1) parking pass per 1,000 square feet of rentable floor area and the number of Reserved Garage Passes provided to Tenant shall be reduced or increased based upon the proportion of the number of Reserved Garage Passes to the number of all required parking passes. Tenant may also request additional parking passes from Landlord from time to time, and if Landlord determines in good faith that additional parking passes are available, then Landlord shall provide such number of additional parking passes, up to the number requested by Tenant (“Additional Parking Passes”). The Additional Parking Passes shall be on a month-to-month basis, with either party having the right to cancel some or all of such Additional Parking Passes on not less than thirty (30) days’ notice, and shall otherwise be on all of the terms and conditions of unreserved parking stalls to which Tenant is entitled under this Lease shall be increased or reduced, as applicable, proportionately therewith. On an annual basis, Tenant may increase or decrease the Total Number of Parking Privileges by up to ten (10) spaces per year, but Tenant may never increase the Total Number of Parking Privileges in excess of the Parking Ratio. To increase or decrease the Total Number of Parking Privileges, Tenant shall give written notice to Landlord on or before October 1 of the immediately preceding calendar year, and any such adjustment shall be effective as of January 1 of the immediately following calendar year and shall remain in effect for the entirety of such calendar year. If Tenant does not provide written notice of any adjustment to the Total Number of Parking Privileges by October 1 in any year, then there shall not be any adjustment to the Total Number of Parking Privileges for the following calendar yearpasses hereunder.
Appears in 1 contract
Parking Privileges. Parking privileges Commencing on the Commencement Date, Landlord shall be made available provide to Tenant monthly parking privileges in the portion of the Prudential Center Garage by Garage Expansion Owner, LP, a Delaware limited partnership designated for the Building (together with its successors and assigns, the “Garage OwnerGarage”), and Garage Expansion Developer, LLC, a Delaware limited liability company (together with its successors and assigns, the “Garage Ground Tenant”), as the ground tenant ) of the Garage Expansion Parcel (as defined in the Declaration), for up to one (1) passenger automobile pass for every three thousand each 2,000 Rentable Square Feet of Premises leased by Tenant (3,000including any premises demised to Tenant pursuant to Tenant’s right of first offer rights as set forth in Section 2.2 hereof) square feet of Rentable Floor Area in the Premises from time to time (the “Maximum Parking RatioAmount”) for the parking of motor vehicles in unreserved stalls in the Garage by Tenant’s employees (“Unreserved Passes”). In addition, commencing on the Commencement Date of the Term. On or before the Commencement Date, Tenant Landlord shall provide written notice to Landlord stating the total number of Tenant monthly parking privileges (not to exceed the Parking Ratio) that Tenant elects to use (as it may be adjusted pursuant to this Section 10.1, the “Total Number of Parking Privileges”). All parking privileges shall be unassigned, non-reserved parking privileges. If Tenant fails to provide such written notice to Landlord on or before the Commencement Date, then the Total Number of Parking Privileges shall be deemed to be twenty two (22) (i.e., one (1) pass for every three thousand (3,000) square feet the parking of Rentable Floor Area motor vehicles in reserved spaces in the Premises as Garage by Tenant’s employees (“Reserved Space”), which reserved space will be located in one of the areas shown hatched on Exhibit H. Tenant shall designate the number of Unreserved Passes (not more than the Maximum Parking Amount) that it desires to Landlord by not later than thirty (30) days after the Commencement Date). If the Total Number of Parking Privileges is fewer than twenty two (22), then Tenant shall be deemed to have waived its right to the additional parking privileges (subject to adjustment of the Total Number of Parking Privileges, as provided below). If the Rentable Floor Area of the Premises increases or decreases at any time during the Lease Term, then, unless otherwise agreed in writing by Landlord and Tenant, the number of unreserved parking stalls to which Tenant is entitled under this Lease shall be increased or reduced, as applicable, proportionately therewith. On an annual basis, Tenant may increase or decrease the Total Number of Parking Privileges by up to ten (10) spaces per year, but Tenant may never increase the Total Number of Parking Privileges in excess of the Parking Ratio. To increase or decrease the Total Number of Parking PrivilegesThereafter, Tenant shall have the right from time to time, on thirty (30) days’ prior written notice, (i) to give written notice up any such Unreserved Passes taken by Tenant, and (ii) to Landlord on or before October 1 of the immediately preceding calendar yeartake any Unreserved Passes not initially taken by Tenant, and any such adjustment Unreserved Passes so taken but later given up, but Tenant’s right to take Unreserved Passes under this subsection (ii) shall be effective as of January 1 of the immediately following calendar year and shall remain in effect for the entirety of such calendar year. If Tenant does not provide written notice of any adjustment subject to the Total Number of Parking Privileges by October 1 in any year, then there shall not be any adjustment to the Total Number of Parking Privileges for the following calendar yearavailability.
Appears in 1 contract
Parking Privileges. Parking privileges (a) Commencing as of the Execution Date of this Lease, and continuing thereafter through the expiration or prior termination of the Term of this Lease, Landlord shall be made available provide to Tenant monthly parking privileges in the Prudential Center Garage by Garage Expansion Owner, LP, a Delaware limited partnership (together with its successors and assigns, the “Garage OwnerGarage”), and Garage Expansion Developer, LLC, a Delaware limited liability company ) for eighty-nine (together with its successors and assigns, the “Garage Ground Tenant”), as the ground tenant of the Garage Expansion Parcel 89) automobiles (as defined in the Declaration), for i.e. one (1) passenger automobile for every three thousand (3,000) each 2,000 square feet of Rentable Floor Area in the of Office Premises from time to time (the “Parking Ratio”leased by Tenant) for the parking of motor vehicles in unreserved stalls in the Garage by Tenant’s employees commencing on employees. All of such parking privileges shall be in unreserved stalls, except that twelve (12) of such parking privileges (“Reserved Spaces) shall be in reserved stalls in the Garage which initially shall be located in one or more of the so-called “parking nests” nearby the Prudential Tower, provided however, the date by which Landlord shall be required to make such Reserved Spaces available to Tenant shall be the earlier of : (x) the date that Landlord gives notice to Tenant that such Reserved Spaces are available to Tenant, or (y) two (2) months after the Execution Date of this Lease. -48-
(b) Tenant shall have the right, as of each semi-anniversary (i.e. every six months) of the Commencement Date Date, to change the number of parking privileges available to Tenant, provided that: (w) Tenant gives Landlord written notice of any change in Tenant’s parking privileges at least thirty (30) days prior to the applicable anniversary of the Term. On or before Commencement Date, (x) in no event shall Tenant be entitled to more than the maximum number of parking privileges, as determined by the first sentence of Section 10.1(a), (y) if Tenant desires to increase the number of parking privileges as of any anniversary of the Commencement Date, Tenant shall provide written have the right to such parking privileges only to the extent that the same are then available, and (z) if, pursuant to Section 10.1(c) below, Tenant elects that Landlord construct the New Area, Tenant shall have no further right to adjust the number of reserved parking privileges.
(c) By notice to Landlord stating given no later than the total third anniversary of the date of execution hereof (the “Parking Notice Date”), Tenant may require Landlord to construct a reserved parking area (the “New Area”) in a location in the Garage shown on Exhibit J hereto for Tenant’s Reserved Spaces, and Landlord shall construct the same which shall include, inter alia, a gate and enclosure. Landlord anticipates that the number of reserved parking privileges (not to exceed spaces that will be created in the Parking Ratio) that Tenant elects to use (as it New Area may be adjusted pursuant to this Section 10.1more than 12 parking spaces, and that other tenants and/or parkers will be using such other (i.e. other than the Reserved Spaces) spaces in the New Area. Upon the completion of the New Area, Landlord shall bill Tenant for all the costs and expenses which it has incurred in constructing such New Area and putting in the same into operation, including, without limitation, the “Total Number costs of Parking Privileges”)installing and putting into operation the gate system, and Landlord shall submit with such billing reasonable back-up evidence thereof and Tenant shall reimburse Landlord for such costs within thirty (30) days after receipt of such billing. All parking privileges The monthly charge per space for the spaces within such New Area shall be unassigned, non-reserved parking privileges. If Tenant fails to provide such written notice to Landlord on or before the Commencement Date, then the Total Number of Parking Privileges shall be deemed to be twenty two (22) (i.e., one (1) for every three thousand (3,000) square feet of Rentable Floor Area in the Premises commence as of the Commencement Date). If substantial completion of the Total Number of Parking Privileges is fewer than twenty two (22), then Tenant New Area and shall initially shall be deemed to have waived its right $600 per space. Such rate shall be in effect until the Parking Notice Date and thereafter such rate shall increase proportionately with any increases in the prevailing monthly rates for reserved parking within the Garage. Prior to the additional parking privileges (subject to adjustment substantial completion of the Total Number of Parking PrivilegesNew Area, as provided below). If the Rentable Floor Area of the Premises increases or decreases at any time during the Lease Term, then, unless otherwise agreed in writing by Landlord and Tenant, the number of unreserved parking stalls to which Tenant is entitled under this Lease charges for reserved spaces shall be increased or reducedin accordance with Section 10.2. Tenant acknowledges that Landlord may charge other users of reserved spaces in the New Area such rate as Landlord may determine, as applicablefrom time to time, proportionately therewith. On an annual basis, Tenant may increase or decrease the Total Number of Parking Privileges by up to ten (10) spaces per year, but Tenant may never increase the Total Number of Parking Privileges in excess of the Parking Ratio. To increase or decrease the Total Number of Parking Privileges, Tenant shall give written notice to Landlord on or before October 1 of the immediately preceding calendar year, and any such adjustment shall be effective as of January 1 of the immediately following calendar year and shall remain in effect for the entirety of such calendar year. If Tenant does not provide written notice of any adjustment to the Total Number of Parking Privileges by October 1 in any year, then there shall not be any adjustment to the Total Number of Parking Privileges for the following calendar yearXxxxxxxx’s sole discretion.
Appears in 1 contract
Samples: Lease Agreement (Havas)
Parking Privileges. Parking privileges Commencing on the Commencement Date and continuing throughout the Term, Landlord shall be made available provide to Tenant monthly parking privileges in the Garage by Garage Expansion Owner, LP, a Delaware limited partnership (together with its successors and assigns, the “Garage Owner”), and Garage Expansion Developer, LLC, a Delaware limited liability company (together with its successors and assigns, the “Garage Ground Tenant”), as the ground tenant of the Garage Expansion Parcel one or more Permitted Garages (as defined and more particularly described in the DeclarationSection 10.5 hereof), for based upon a ratio of one (1) passenger automobile parking pass for every three thousand (3,000) each 1,000 rentable square feet of Rentable Floor Area in the Premises from time to time (the “Parking Ratio”) Premises, for the parking of motor passenger vehicles in unreserved (except as set forth herein) stalls in the Permitted Garage assigned to such parking privilege in accordance with Section 10.5 below (the “Assigned Garage”) by Tenant’s employees commencing on and employees of permitted assignees and subtenants of Tenant in the Commencement Date Building, at 000 Xxxxxxxx, 00 Xxxxxxxx xx Xxxxxxxxx, Xxxxxxxxxxxxx and any other building owned by Landlord or its affiliates in the Xxxxxxx Square area of the Term. On or before the Commencement DateCambridge, Tenant shall provide written notice to Landlord stating the total number of parking privileges Massachusetts (not to exceed the Parking Ratio) that Tenant elects to use (as it may be adjusted pursuant to this Section 10.1, the “Total Number of Parking PrivilegesEligible Holders”). All Tenant may, by giving Landlord thirty (30) days’ advance written notice, convert up to ten (10) of its unreserved parking privileges shall be unassigned, non-passes to passes for reserved parking privilegesspaces (the “Reserved Garage Passes”) in the Yellow Garage for certain of its employees. If Landlord will use reasonable efforts, by the use of signs and markings, to designate such reserved spaces, but shall not be otherwise obligated to police the use of such reserved spaces, which Tenant fails to provide such written notice to Landlord on or before the Commencement Date, then the Total Number of Parking Privileges shall be deemed recognizes are to be twenty two (22) (i.e., one (1) for every three thousand (3,000) square feet of Rentable Floor Area in operated on a self-parking basis. In the Premises as of the Commencement Date). If the Total Number of Parking Privileges is fewer than twenty two (22), then Tenant shall be deemed to have waived its right to the additional parking privileges (subject to adjustment of the Total Number of Parking Privileges, as provided below). If event that the Rentable Floor Area of the Premises decreases or increases or decreases at any time after the Commencement Date and during the Lease Term, then, unless otherwise agreed in writing by Landlord and Tenant, the number of parking privileges shall be reduced or increased at a ratio of one (1) parking pass per 1,000 square feet of rentable floor area and the number of Reserved Garage Passes provided to Tenant shall be reduced or increased based upon the proportion of the number of Reserved Garage Passes to the number of all required parking passes. Tenant may also request additional parking passes from Landlord from time to time, and if Landlord determines in good faith that additional parking passes are available, then Landlord shall provide such number of additional parking passes, up to the number requested by Tenant (“Additional Parking Passes”). The Additional Parking Passes shall be on a month-to-month basis, with either party having the right to cancel some or all of such Additional Parking Passes on not less than thirty (30) days’ notice, and shall otherwise be on all of the terms and conditions of unreserved parking stalls to which Tenant is entitled under this Lease shall be increased or reduced, as applicable, proportionately therewith. On an annual basis, Tenant may increase or decrease the Total Number of Parking Privileges by up to ten (10) spaces per year, but Tenant may never increase the Total Number of Parking Privileges in excess of the Parking Ratio. To increase or decrease the Total Number of Parking Privileges, Tenant shall give written notice to Landlord on or before October 1 of the immediately preceding calendar year, and any such adjustment shall be effective as of January 1 of the immediately following calendar year and shall remain in effect for the entirety of such calendar year. If Tenant does not provide written notice of any adjustment to the Total Number of Parking Privileges by October 1 in any year, then there shall not be any adjustment to the Total Number of Parking Privileges for the following calendar yearpasses hereunder.
Appears in 1 contract
Parking Privileges. Parking privileges Reference is made to the fact that affiliates of Landlord have constructed three (3) parking garages (hereinafter the “Garage” or the “Garages”) within the Development Area shown on Exhibit F to serve the Building and other buildings constructed or to be constructed by Landlord or affiliates of Landlord within the Development Area. The existing Garage, with vehicular entrances from the south side of Broadway and the east side of Xxxx Street, is also sometimes hereinafter referred to as the “East Garage.” The existing Garage, located on Parcel 2 of the Development Area with vehicular entrances from the north side of Broadway and the south side of Binney Street is also sometimes hereinafter referred to as the “North Garage.” The existing Garage located on Parcel 3 of the Development Area with vehicular entrances from the west side of Xxxx Street and the east side of Xxxxxxx Xxxxxxx Way, is also sometimes hereinafter referred to as the “West Garage”. Landlord shall be made available provide to Tenant monthly parking privileges in the West Garage by Garage Expansion Owner, LP, a Delaware limited partnership (together with its successors and assigns, the “Garage Owner”), and Garage Expansion Developer, LLC, a Delaware limited liability company (together with its successors and assigns, the “Garage Ground Tenant”), as the ground tenant of the Garage Expansion Parcel (as defined in the Declaration), number not to exceed parking for one and one half (11 1/ 2) passenger automobile automobiles for every three thousand (3,000) each 1,000 square feet of Rentable Floor Area in of the Premises from time (as it is contemplated to time (the “Parking Ratio”increase or decrease pursuant to Article XVII) for the parking of motor vehicles in unreserved stalls in the Garage by Tenant’s employees commencing on the Commencement Date of the Lease Term. On or before The parking privileges may be shifted from time to time to the Commencement Date, Tenant East Garage by notice from Landlord; provided however that parking shall provide written notice to Landlord stating be provided in the West Garage for no less than eighty percent (80%) of the total number of parking privileges (not to exceed the Parking Ratio) that automobiles for which Tenant elects to use (as it may be adjusted have parking privileges pursuant to this Section 10.1. For the avoidance of ambiguity, notwithstanding any provision hereof to the contrary, the “Total Number of Parking Privileges”). All parties agree that in no event shall the Tenant’s parking privileges shall be unassignedshifted to the North Garage without the express written consent of Tenant, non-reserved parking privilegesin its sole discretion. If Tenant fails shall, not less than six (6) months prior to provide such written notice to Landlord the Commencement Date (i.e., on or before December 1, 2008), give Landlord notice with regard to the initial number of automobiles for which Tenant desires parking privileges, not exceeding Tenant’s entitlement pursuant to this Lease, and it is contemplated that this figure shall be increased upon the occurrence of each Rent Commencement Date, with respect to each Premises Component which has a Rent Commencement Date later than the Commencement Date, then by the Total Number amount specified by Tenant within thirty (30) days of Parking Privileges the Rent Commencement Date with respect to such Premises Component, not exceeding in the aggregate Tenant’s entitlement pursuant to this Lease. Tenant shall be deemed also have the right to be twenty two adjust the number of automobiles for which it has parking privileges on an annual basis with six (226) (i.e.months’ prior notice to Landlord, one (1) for every three thousand (3,000) provided that in no event shall parking privileges exceed more than 1 1/2 parking spaces per 1,000 square feet of Rentable Floor Area in Area, nor less than 1.13 per 1,000 square feet of Rentable Floor Area. In the Premises as of the Commencement Date). If the Total Number of Parking Privileges is fewer than twenty two (22), then Tenant shall be deemed to have waived its right to the additional parking privileges (subject to adjustment of the Total Number of Parking Privileges, as provided below). If event that the Rentable Floor Area of the Premises increases or decreases at any time during the Lease Term, then, unless otherwise agreed in writing by Landlord and Tenant, the number of unreserved parking stalls privileges provided to Tenant hereunder shall be reduced proportionately. In any event that Tenant is not using the maximum parking privileges to which Tenant it is entitled under this Lease hereunder, its right to increase shall be increased or reduced, as applicable, proportionately therewith. On an annual basis, Tenant may increase or decrease the Total Number of Parking Privileges by up to ten (10) spaces per year, but Tenant may never increase the Total Number of Parking Privileges in excess of the Parking Ratio. To increase or decrease the Total Number of Parking Privileges, Tenant shall give written notice to Landlord on or before October 1 of the immediately preceding calendar year, and any such adjustment shall be effective as of January 1 of the immediately following calendar year and shall remain in effect for the entirety of such calendar year. If Tenant does not provide written notice of any adjustment subject to the Total Number then availability of Parking Privileges by October 1 additional spaces in any year, then there shall not be any adjustment to the Total Number of Parking Privileges for the following calendar yearGarages in Landlord’s determination.
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Parking Privileges. Parking privileges shall be made available to Tenant in the Garage by Garage Expansion Owner, LPGarden Parking Corporation, a Delaware limited partnership corporation, or an affiliate thereof (together with its successors successor and assigns, the “Garage Owner”), and Garage Expansion Developer, LLC, a Delaware limited liability company (together with its successors and assigns, the “Garage Ground Tenant”), as the ground tenant of the Garage Expansion Parcel (as defined in the Declaration), ) for one (1) passenger automobile for every three thousand (3,000) square feet of Rentable Floor Area in the Premises from time to time (the “Parking Ratio”) for the parking of motor vehicles in unreserved stalls in the Garage by Tenant’s employees commencing on the Commencement Date of the Term. On or before the Commencement Date, Tenant shall provide written notice to Landlord stating the total number of parking privileges (not to exceed one (1) for every three thousand (3,000) square feet of Rentable Floor Area in the Parking RatioPremises) that Tenant elects to use (as it may be adjusted pursuant to this Section 10.1, the “Total Number of Parking Privileges”). All parking privileges shall be unassigned, non-reserved parking privileges. If Tenant fails to provide such written notice to Landlord on or before the Commencement Date, then the Total Number of Parking Privileges shall be deemed to be twenty two forty nine (2249) (i.e., one (1) for every three thousand (3,000) square feet of Rentable Floor Area in the Premises as of the Commencement Date). If the Total Number of Parking Privileges is fewer than twenty two forty nine (2249), then Tenant shall be deemed to have waived its right to the additional parking privileges (subject to adjustment of the Total Number of Parking Privileges, as provided below). If the Rentable Floor Area of the Premises increases or decreases at any time during the Lease Term, then, unless otherwise agreed in writing by Landlord and Tenant, the number of unreserved parking stalls to which Tenant is entitled under this Lease shall be increased or reduced, as applicable, proportionately therewith, unless the Rentable Floor Area of the Premises increases as the result of Tenant’s exercise of the Right of First Offer, in which case Tenant’s additional parking privileges, if any, shall be determined in accordance with Section 3.4. On an annual basis, Tenant may increase or decrease the Total Number of Parking Privileges by up to ten (10) spaces per year, but Tenant may never increase the Total Number of Parking Privileges in excess to more than one (1) space for every three thousand (3,000) square feet of Rentable Area on the Parking RatioPremises. To increase or decrease the Total Number of Parking Privileges, Tenant shall give written notice to Landlord on or before October 1 of the immediately preceding calendar year, and any such adjustment shall be effective as of January 1 of the immediately following calendar year and shall remain in effect for the entirety of such calendar year. If Tenant does not provide written notice of any adjustment to the Total Number of Parking Privileges by October 1 in any year, then there shall not be any adjustment to the Total Number of Parking Privileges for the following calendar year.
Appears in 1 contract
Samples: Lease Agreement (Rapid7, Inc.)
Parking Privileges. Parking privileges Subject to the next paragraph of this Section 10.1, Landlord shall be made available provide to Tenant monthly parking privileges in the Atlantic Wharf Garage by Garage Expansion Owner, LP, a Delaware limited partnership (together with its successors and assigns, the “Garage Owner”), and Garage Expansion Developer, LLC, a Delaware limited liability company (together with its successors and assigns, the “Garage Ground Tenant”), as the ground tenant of the Garage Expansion Parcel (as defined in the Declaration), for one (1) passenger automobile for every three thousand (3,000) square feet of Rentable Floor Area in the Premises from time to time (the “Parking RatioGarage”) for, forty-one (41) passenger automobiles for the parking of motor vehicles in unreserved stalls in the Garage by Tenant’s employees commencing on the Commencement Date of the Term. On or before In the Commencement Date, Tenant shall provide written notice to Landlord stating the total number of parking privileges (not to exceed the Parking Ratio) event that Tenant elects to use (as it may be adjusted pursuant to this Section 10.1, the “Total Number of Parking Privileges”). All parking privileges shall be unassigned, non-reserved parking privileges. If Tenant fails to provide such written notice to Landlord on or before the Commencement Date, then the Total Number of Parking Privileges shall be deemed to be twenty two (22) (i.e., one (1) for every three thousand (3,000) square feet of Rentable Floor Area in the Premises as of the Commencement Date). If the Total Number of Parking Privileges is fewer than twenty two (22), then Tenant shall be deemed to have waived its right to the additional parking privileges (subject to adjustment of the Total Number of Parking Privileges, as provided below). If the Rentable Floor Area of the Premises increases or decreases at any time during the Lease Term, then, unless otherwise agreed in writing by Landlord and Tenant, the number of unreserved parking stalls privileges provided to which Tenant is entitled under this Lease hereunder shall be increased or reducedreduced proportionately, as applicableand based upon a ratio of one (1) parking space per 2,000 rentable square feet leased to Tenant. For the purposes of this Article X, proportionately therewith. On an annual basis, Tenant may increase or decrease the Total “Maximum Number of Parking Privileges by up Privileges” shall be defined as 41, as the same may be increased or reduced pursuant to ten the immediately preceding sentence. Not later than one (101) spaces per yearyear following the Commencement Date, but time being of the essence (the “Outside Parking Notice Date”), Tenant shall give to Landlord an irrevocable notice (“Tenant’s Final Parking Notice”) of the total number of parking privileges (not to exceed 41) which Tenant elects to have and pay for, from and after the date of Landlord’s receipt of Tenant’s Final Parking Notice (provided same is received not later than the Outside Parking Notice Date) through and during the remainder of the Lease Term (as it may never increase be extended). If Tenant shall fail to give or shall fail to timely give a Tenant’s Final Parking Notice, then in either such case, Tenant shall be deemed for all purposes to have irrevocably elected to have and pay for 41 parking privileges from and after the Total Outside Parking Notice Date through and during the remainder of the Lease Term (as it may be extended). Until the first to occur of (i) the Outside Parking Notice Date and (ii) the date of Landlord’s receipt of Tenant’s Final Parking Notice which must be received prior to the Outside Parking Notice Date, Tenant shall, not later than 10 days prior to the Commencement Date and not later than five (5) days prior to the first day of each calendar month, advise Landlord of the interim number of parking privileges Tenant elects to have and pay for, which in no event shall exceed the Maximum Number of Parking Privileges in excess of Privileges. If Tenant elects to lease fewer than the Parking Ratio. To increase or decrease the Total Maximum Number of Parking Privileges, Tenant shall give written notice have the right, from time to time, to request that Tenant be provided with an additional number of monthly parking privileges for use in the Garage in accordance with this Article X, which Landlord on or before October 1 of the immediately preceding calendar yearshall provide to Tenant, so long as: (i) such additional parking privileges are then available for use by Tenant, and any such adjustment (ii) the number of parking privileges provided to Tenant shall be effective as of January 1 of not exceed the immediately following calendar year and shall remain in effect for the entirety of such calendar year. If Tenant does not provide written notice of any adjustment to the Total Maximum Number of Parking Privileges by October 1 in any year, then there shall not be any adjustment to the Total Number of Parking Privileges for the following calendar yearPrivileges.
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Samples: Lease Agreement (Brightcove Inc)
Parking Privileges. Parking privileges (A) Reference is made to the fact that affiliates of ------------------ Landlord have constructed a parking garage and propose to construct one or more additional parking garages (hereinafter the "Garage", or the "Garages" if there be more than one) within the Development Area shown on Exhibit F to serve the Building and other buildings constructed or to be constructed by Landlord or affiliates of Landlord within the Development Area. The existing Garage, with vehicular entrances from the south side of Broadway and the east side of Xxxx Street, is also sometimes hereinafter referred to as the "East Garage." Landlord shall be made available provide to Tenant monthly parking privileges in the Garage by Garage Expansion Owner, LP, a Delaware limited partnership (together with its successors and assigns, the “Garage Owner”), and Garage Expansion Developer, LLC, a Delaware limited liability company (together with its successors and assigns, the “Garage Ground Tenant”), as the ground tenant one or more of the Garage Expansion Parcel Garages in number not to exceed parking for two (as defined in the Declaration), for one (12) passenger automobile automobiles for every three thousand (3,000) each 1,000 square feet of Rentable Floor Area in of the Initial Premises from time to time (the “Parking Ratio”) for the parking of motor vehicles in unreserved stalls in one or more of the Garage Garages by Tenant’s 's employees commencing on the Commencement Date of the Lease Term. Such parking privileges may be shifted from time to time among the Garages by notice from Landlord; provided however that parking shall be provided in the East Garage for no less than one-half (1/2) of the total number of automobiles for which Tenant elects to have parking privileges pursuant to this Section 10.1; and provided further, that Tenant shall have the right, as part of such parking rights, to ten (10) reserved parking spaces, designated by Landlord, four (4) to be in the East Garage and six (6) to be in the underground parking area under the Building (herein sometimes called the "Reserved Spaces"). Landlord shall not grant to anyone other than Tenant the right to use any of such Reserved Spaces and will use reasonable efforts, by the use of signs and markings, to designate such spaces as spaces to be used exclusively by Tenant. However, Landlord shall not be obligated otherwise to police the use of the Reserved Spaces which Tenant recognizes are to be contained in an area to be operated on a self parking basis.
(B) On or before the Commencement DateSeptember 1, 1988, Tenant shall provide written give notice to Landlord stating ("Tenant's Parking Notice") of the total number of parking privileges (not to exceed spaces which Tenant desires be made available in the Parking RatioGarage(s) that Tenant elects to for the use (as it may be adjusted pursuant to in accordance with the provisions of this Section 10.110.1 and at any time and from time to time (but not more often than once per month) prior to April 1, the “Total Number of Parking Privileges”). All parking privileges shall be unassigned1990 Tenant may, non-reserved parking privileges. If Tenant fails to provide such written by notice to Landlord on or before the Commencement Date, then the Total Number of Parking Privileges shall be deemed to be twenty two (22) (i.e., one (1) for every three thousand (3,000) square feet of Rentable Floor Area in the Premises as of the Commencement Date). If the Total Number of Parking Privileges is fewer than twenty two (22), then Tenant shall be deemed to have waived its right to the additional parking privileges (subject to adjustment of the Total Number of Parking Privileges, as provided below). If the Rentable Floor Area of the Premises increases or decreases at any time during the Lease Term, then, unless otherwise agreed in writing by Landlord and Tenant, the number of unreserved parking stalls to which Tenant is entitled under this Lease shall be increased or reduced, as applicable, proportionately therewith. On an annual basis, Tenant may increase or decrease the Total Number number of Parking Privileges by up parking spaces initially elected as aforesaid but any such increase shall not result in Tenant electing more than the total number of parking spaces provided for in the preceding paragraph and provided further that Landlord shall have until the last to ten occur of (10i) thirty (30) days after its receipt of Tenant's notice increasing the number of parking spaces per yearand (ii) the Commencement Date to provide such increased number of parking spaces. Further, but if Tenant may never increase the Total Number of Parking Privileges in excess of the Parking Ratio. To increase or decrease the Total Number of Parking Privilegesshall elect to expand its space under lease pursuant to its rights under Section 2.3, Tenant shall give written have the rights to elect additional parking as provided in Section 2.3 subject to the notice requirements of Section 2.3.
(C) Notwithstanding the foregoing, from time to time Tenant may at any time after April 1, 1990 decrease its total number of parking spaces by notice to Landlord on or before October 1 of the immediately preceding calendar year, and any Landlord. Any such adjustment reduction shall be effective as of January 1 of the immediately following calendar year and shall remain in take effect for the entirety thirty (30) days after Landlord's receipt of such calendar year. If Tenant does not provide written notice of any adjustment to the Total Number of Parking Privileges by October 1 in any year, then there shall not be any adjustment to the Total Number of Parking Privileges for the following calendar yearnotice.
Appears in 1 contract
Samples: Sublease (On Technology Corp)
Parking Privileges. Parking privileges Tenant shall be made available to Tenant in have the Garage by Garage Expansion Ownerright, LPbut not the obligation, a Delaware limited partnership (together with its successors and assigns, the “Garage Owner”), and Garage Expansion Developer, LLC, a Delaware limited liability company (together with its successors and assigns, the “Garage Ground Tenant”), as the ground tenant of the Garage Expansion Parcel (as defined in the Declaration), for one (1) passenger automobile for every three thousand (3,000) square feet of Rentable Floor Area in the Premises from time to time throughout the Term of this Lease, to lease from Landlord up to one hundred six (the “106) Unreserved Parking Ratio”) for the parking of motor vehicles in unreserved stalls in the Garage Privileges (defined below). Subject to availability (as reasonably determined by Tenant’s employees commencing on the Commencement Date of the Term. On or before the Commencement DateLandlord), Tenant shall provide written notice have the right to lease from Landlord stating the total number of parking privileges up to twenty-one (not to exceed the Parking Ratio21) that Tenant elects to use (as it may be adjusted pursuant to this Section 10.1, the “Total Number of additional Unreserved Parking Privileges”). All parking privileges shall be unassigned, non-reserved parking privileges. If Tenant fails to provide such written notice to Landlord on or before the Commencement Date, then the Total Number of which additional Unreserved Parking Privileges shall be deemed to be twenty two at Landlord's prevailing rate. To the extent Tenant is leasing more than eighty-five (2285) (i.e., one (1) for every three thousand (3,000) square feet of Rentable Floor Area in the Premises as of the Commencement Date). If the Total Number of Parking Privileges is fewer than twenty two (22), then Tenant shall be deemed to have waived its right to the additional parking privileges (subject to adjustment of the Total Number of Unreserved Parking Privileges, as provided below). If Landlord has the Rentable Floor Area right to designate the locations of the Premises increases or decreases at any time during the Lease Term, then, unless otherwise agreed in writing by Landlord and Tenant, the number of unreserved parking stalls to which Tenant is entitled under this Lease shall be increased or reduced, as applicable, proportionately therewith. On an annual basis, Tenant may increase or decrease the Total Number of Parking Privileges by up to ten (10) spaces per year, but Tenant may never increase the Total Number of such Unreserved Parking Privileges in excess of eighty-five (85) Unreserved Parking Privileges. Subject to availability (as determined by Landlord), Tenant shall have the right to convert (on a one-to-one basis) the lease of up to fifteen (15) of Tenant's allocated one hundred six (106) Unreserved Parking RatioPrivileges to Reserved Parking Privileges (defined below), which Reserved Parking Privileges shall be in locations reasonably designated by Landlord. To increase or decrease Tenant shall pay, as Additional Rent, on the Total Number first day of each calendar month during the Term, (i) Eighty Dollars ($80.00) per Reserved Parking Privilege per month, (ii) for the one hundred six (106) allocated Unreserved Parking Privileges, Tenant shall give written notice to Landlord on or before October 1 no charge for months 1-36 of the immediately preceding calendar year, Initial Term and any such adjustment shall be effective as of January 1 Thirty-Five Dollars ($35.00) per Unreserved Parking Privilege per month for months 37-60 of the immediately following calendar year Initial Term and shall remain in effect (iii) Landlord's prevailing rate for the entirety of such calendar year. If Tenant does not provide written notice of any adjustment to the Total Number of additional twenty-one (21) additional Unreserved Parking Privileges by October 1 in any year, then there shall not be any adjustment to the Total Number of Parking Privileges for the following calendar year.(if any). (Article 20)
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