Facility Standard definition

Facility Standard means the facilities, operational capabilities, systems, finishes, and amenities of the Stadium are at least equal to that of Comparable NFL Facilities, taking into account the age of the facility and normal wear and tear.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Facility Standard shall have the meaning set forth in the Stadium Lease; provided, however, the Facility Standard includes at a minimum an enclosed Stadium with a seating capacity of approximately 65,000 persons.

Facility Standard means the facilities, operational capabilities, systems, finishes and amenities of the Speedway are at least equal to that of Comparable Facilities, taking into account the age of the facility and normal wear and tear and comply with NASCAR Cup Race Requirements.

Examples of Facility Standard in a sentence

• The Authority Board’s review of the Capital Budget will not limit in any way the Authority’s rights under this Agreement with respect to any failure of StadCo to maintain the Premises in accordance with the Facility Standard or as otherwise required by this Agreement.

• Tenant shall exercise its Operating Rights and Authority in a commercially reasonable manner consistent with the Facility Standard of Care.

• Commencing on the Commencement Date and continuing thereafter during the remainder of the Term, Bristol shall manage and operate the Premises, or cause the Premises to be managed and operated, as a multi-purpose motorsports speedway in compliance with all Applicable Laws and in accordance with the Facility Standard.

• The Fair Board’s review of the Capital Budget will not limit in any way the Fair Board’s rights under this Lease with respect to any failure of Bristol to maintain the Premises in accordance with the Facility Standard or as otherwise required by this Lease.

• Subject to the last sentence of Section 8.1(a) (Changes, Alterations, and Additional Improvements), the Authority Board’s review of the Capital Budget will not limit in any way the Authority’s rights under this Agreement with respect to any failure of StadCo to maintain the Premises in accordance with the Facility Standard or as otherwise required by this Agreement.

• During the Lease Term, Tenant shall at all times, at its own expense, and subject to reasonable wear and tear, repair and maintain the Facility Premises in accordance with the Facility Standard of Care, including undertaking all necessary Capital Repairs.

• Any termination or expiration of Agreement will not affect the rights and obligations set forth in the following provisions of Agreement: Section 3 (Property Rights), Section 6 (Indemnification), Section 8 (Core Facility Standard Terms).

• Without limitation of the foregoing, Tenant shall update technical and A/V systems on a 11 regular basis and maintain such systems so that they are at all times consistent with the Premier 12 Facility Standard.

• Core Facility Standard Terms specified in the attached Exhibit 1 are incorporated as part of this Agreement.

• StadCo shall provide during the Term sufficient parking facilities pursuant to the requirements of the County Development Agreement and consistent with the Facility Standard (taking into account only those Comparable MLB Facilities which are located in urban infill locations) (“Parking Standard”) (such parking facilities, the “Stadium Parking Facilities”).

More Definitions of Facility Standard

Facility Standard shall have the meaning set forth in the Stadium Lease; provided, however, the Facility Standard includes at a minimum an enclosed Stadium with a seating capacity of approximately thirty thousand (30,000) persons.

Facility Standard means a first-class, state-of-the-art stadium facility reasonably comparable to the Comparable NFL Facilities, as set forth in the Stadium Lease; provided, however, the Facility Standard includes at a minimum an enclosed Stadium with a seating capacity of approximately 60,000 persons. While not an exclusive list, the Stadium will have a level of design and construction generally consistent with the level of design and construction that was used for the following Stadiums – US Bank Stadium (Minneapolis, Minnesota), Mercedes-Benz Stadium (Atlanta, Georgia), and Allegiant Stadium (Paradise, Nevada) (each, a “Comparable Facility”, and collectively, the “Comparable Facilities”) (without the design and construction of any single Comparable Facility, or any single attribute of any of the Comparable Facilities, alone being determinative, and with due consideration given to any unique market conditions (such as climate, surrounding landscape, local laws and regulations and any requirement to serve as the home venue for other professional, collegiate or amateur sports teams).

Facility Standard shall have the meaning set forth in the Stadium Lease.

Facility Standard. The Bank shall: 5.2.1 i) Make its reasonable best efforts to maintain the Facility in operation 24 hours a day, seven days a week. 5.2.2 ii) Make its reasonable best efforts to provide the Facility in a manner that protects information transmitted by the Software from (A) unauthorized interception, (B) undetected unauthorized modification or alteration after its origination, (C) undetected initiation by persons posing as other personsor entities, (D) unauthorized replication.

Facility Standard means the standards, policies and programs prevailing and in effect from time to time and applicable to the Crescent Point, a 112-unit independent senior living community located in Cedar Hill, Texas, including, but not limited to, all phases of operations and programs such as purchasing programs, sales promotions programs, quality improvement programs, activities, services, and the like.