Tenant’s Competitors Clause Samples

The 'Tenant’s Competitors' clause defines restrictions or conditions regarding the presence or activities of businesses that compete with the tenant within a leased property or development. Typically, this clause may prohibit the landlord from leasing nearby spaces to direct competitors of the tenant, or it may limit the tenant’s own ability to sublease to such competitors. Its core function is to protect the tenant’s business interests by reducing direct competition in close proximity, thereby supporting the tenant’s commercial success and justifying their investment in the leased premises.
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Tenant’s Competitors. 25.1. On the conditions (which conditions Landlord may waive at any time by written notice to Tenant) (collectively, the “Tenant’s Competitors Conditions”) that (i) this Lease is in full force and effect, (ii) there exists no uncured Event of Default by Tenant, (iii) CarGurus, Inc., itself, together with any Permitted Transferee, as defined in Section 12.5, are occupying at least fifty-seven percent (57%) of the rentable area of the Premises then demised to Tenant, Landlord agrees that Landlord will not (a) enter into a lease with a Tenant Competitor, as hereinafter defined, for space in the Project, (b) consent to a sublease with respect to any portion of the Project to a Tenant Competitor, or (c) consent to an assignment of a lease of any portion of the Project to a Tenant Competitor (excepting assignments which are permitted pursuant to the respective lease without Landlord’s consent, such as in connection with a sale, merger, consolidation or asset sale involving the respective tenant). 25.2. The foregoing covenant is subject to the following conditions and limitations: (i) the foregoing covenant shall expire on the date that this Lease terminates or expires, or otherwise ceases to be in full force and effect; (ii) the foregoing covenant shall expire if an order or decision is issued by a court of competent jurisdiction or governmental authority which declares this or such exclusionary covenants void; and (iii) if any governmental agency or authority, or other person (other than Landlord or an affiliate of Landlord) challenges the enforceability, legality or validity of the foregoing covenant, either by commencement of a legal action or proceeding or by an action before a governmental agency, authority or tribunal, then Tenant shall, upon notice thereof from Landlord, either waive the foregoing covenant and release Landlord from all obligations or liabilities in connection therewith, or defend the challenge with counsel of its own selection, whereupon Tenant shall indemnify, defend and hold Landlord harmless from and against any claims, expenses, losses, damages, fines and liability (including, without limitation, reasonable attorneys’ fees) arising out of or resulting therefrom. This indemnity shall survive the expiration or earlier termination of this Lease. 25.3. For purposes hereof, “Tenant Competitor” shall mean the following: ▇▇▇▇.▇▇▇, TrueCar, ▇▇▇ Enterprises (Auto Trader), Carvana and CarFax. If and as long as the Tenant’s Competitors Condition...
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Tenant’s Competitors. Provided that (i) no Event of Default by Tenant has occurred under this Lease, and (ii) the Tenant is Ionis Pharmaceuticals, Inc., or an affiliate, and such Tenant remains in possession of the Premises and operating for the Permitted Use, Landlord shall not sell the Premises (or any portion thereof, or all or substantially all of Landlord’s interest therein) or enter into an agreement to that would transfer L▇▇▇▇▇▇▇’s interest in the Premises to a Competitor during the Term; provided, however, this Section 11.2 shall not prohibit Landlord from entering into an agreement to sell or transfer the Premises to a Competitor if the effective date of the transfer would occur after the expiration of the Term. As used herein, “Competitor” or “Competitors” means the companies expressly listed as competitors in Tenant’s most recent publicly filed Annual Report (10-K); provided, however, (1) such companies shall be directly engaged in the development, manufacturing, or commercializing a medicine or other life sciences product, and “Competitor” shall not mean any affiliates, investors, parents, or other stake-holders of such companies, and (2) there shall not be more than twenty (20) Competitors at any one time. If Tenant’s most recent publicly filed Annual Report (10-K) includes more than twenty (20) companies that would otherwise be deemed Competitors, only those companies that were previously listed in Tenant’s Annual Report (10-K) shall be deemed a Competitor unless Tenant provides a written notice to Landlord specifying which companies listed in Tenant’s most recent Annual Report (10-K) shall be included in the list of twenty (20) Competitors for the purposes of this Lease.
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Tenant’s Competitors. So long as Tenant is occupying at least 50% of the Initial Leased Premises and is conducting its business therein in substantially the same manner as conducted on the Execution Date (Tenant shall not be deemed in occupancy for purposes of this clause if an assignee or subtenant is in occupancy), Landlord agrees that it will not hereafter enter into a lease covering space in the Building to any company whose primary business is the development of computer software. Tenant acknowledges that one or more leases of space in the Building as of the Execution Date may permit the tenant thereunder (and its assignees and sublessees) to use such space for the conduct of a business engaged in the development of computer software, and Tenant agrees that no conduct of such business by such tenants, their assignees or sublessees, shall constitute default hereunder by Landlord.
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Related to Tenant’s Competitors

  • Common Areas Tenant shall have the non-exclusive right to use in common with other tenants in the Project, and subject to the Rules and Regulations referred to in Article 5 of this Lease, those portions of the Project which are provided, from time to time, for use in common by Landlord, Tenant and any other tenants of the Project (such areas, together with such other portions of the Project designated by Landlord, in its discretion, including certain areas designated for the exclusive use of certain tenants, or to be shared by Landlord and certain tenants, are collectively referred to herein as the “Common Areas”). The Common Areas shall consist of the “Project Common Areas” and the “Building Common Areas.” The term “Project Common Areas,” as used in this Lease, shall mean the portion of the Project designated as such by Landlord or areas within the Project that the occupants of the Building are permitted to utilize pursuant to a recorded declaration and which areas shall be maintained in accordance with the declaration. The term “Building Common Areas,” as used in this Lease, shall mean the portions of the Common Areas located within the Building reasonably designated as such by Landlord. The manner in which the Common Areas are maintained and operated shall be at the reasonable discretion of Landlord and the use thereof shall be subject to the Rules and Regulations as Landlord may make from time to time. Landlord reserves the right to close temporarily, make alterations or additions to, or change the location of elements of the Project and the Common Areas, provided that, in connection therewith, Landlord shall perform such closures, alterations, additions or changes in a commercially reasonable manner and, in connection therewith, shall use commercially reasonable efforts to minimize any material interference with Tenant’s use of and access to the Premises.

  • Common Area (Check one)

  • Parking Space The address required to find and physically park the Lessee’s vehicle is mandatory for this agreement to be valid. Section II. Term (7)

  • Subleased Premises Sublandlord does hereby sublease to Subtenant, and Subtenant does hereby sublease and rent from Sublandlord, (i) the Space and (ii) all permanent improvements within the Space constructed by Landlord or by or on behalf of Sublandlord (collectively, the “Subleased Premises”). Subtenant shall have the right to use in common with Sublandlord and others entitled thereto the common areas of the Project pursuant to the Lease. In addition, subject to the terms, covenants and conditions of this Sublease, Subtenant shall have the exclusive right to use during the Sublease Term (defined below), free of charge, the furniture, fixtures and equipment more particularly described on Schedule A annexed hereto and made a part hereof (the “Personal Property”) located in the Space. Subtenant shall have no obligation whatsoever to repair, replace or maintain the Personal Property, unless any damage thereto is caused by the negligence or willful misconduct of Subtenant. Provided that there is no change in the size of the Subleased Premises between the date of this Sublease and the Commencement Date (defined below) (e.g., there has been no change in the size of the Subleased Premises by reason of any damage or destruction to or condemnation of the Subleased Premises), the parties hereby (i) stipulate that the Space shall be deemed to contain approximately 19,997 rentable square feet upon delivery of the Space by Sublandlord to Subtenant (the “Space Measurement”), (ii) agree that neither party shall have any right to dispute the Space Measurement and (iii) waive any claim in connection with the Space Measurement, regardless of whether the Space is found to have contained more or less than 19,997 rentable square feet upon delivery of the Space to Subtenant. Sublandlord represents and warrants for the benefit of Subtenant that the rentable square footage of the Space was not remeasured pursuant to Section 4 of the Second Amendment and that Sublandlord pays Base Rental for the Space under the Lease and Tenant’s Forecast Additional Rental and Tenant’s Additional Rental for the Space under the Lease on the basis of the Space consisting of 19,997 rentable square feet.

  • Parking Spaces All fees, taxes, costs, charges and expenses for operating cleaning, painting, managing maintaining, up-keeping, repair, replacement, renovation, overhaul, in respect of the Parking Spaces and also on deployment of personnel and agency for its operation, security, protection and other purposes etc.