Common use of Unbundled Parking Clause in Contracts

Unbundled Parking. Developer shall lease (a) its parking to residential tenants separately from the residential units and (b) its employee parking to commercial tenants separately from the commercial space. Such parking shall be leased at market rates established by Developer from time-to-time. Developer may, subject to the Planning Director's approval, reconfigure the parking spaces and operations from time-to-time in order to facilitate unbundling of parking. Developer shall require in all tenant leases it executes as landlord that each tenant charge its employees for parking and that all subleases contain this same provision.

Unbundled Parking. Developer shall lease (a) its parking to residential tenants separately from the residential units and (b) its employee parking to commercial tenants separately from the commercial space. Such parking shall be leased at market rates established by Developer from time-to-time. Developer may, subject to the Planning Director's approval, reconfigure the parking spaces and operations from time-to-time in order to facilitate unbundling of parking. Developer shall require in all tenant leases it executes as landlord that each tenant charge its employees for parking and that all subleases contain this same provision.and