Transit Pass Subsidy for Commercial Tenants Sample Clauses

Transit Pass Subsidy for Commercial Tenants. All commercial tenants of the Project may, at their option, enter into leases with reduced employee parking spaces. The number of employee parking spaces may be reduced by as much as fifty percent (50%) of the code required parking space for the applicable commercial space; provided that the commercial tenant provides fully subsidized monthly transit passes to the same percentage of employees as the percentage by which the parking spaces are reduced, and such passes are provided for the entire lease period during which reduced parking applies. For example, if the number of employee parking spaces is reduced by 25%, then the commercial tenant shall provide fully subsidized monthly transit passes to 25% of their employees for the entire period.
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