Permitted Closure definition

Permitted Closure means a closure required for the performance of maintenance, as provided in the Technical Requirements.

Permitted Closure means to fail to operate the entire or substantially all of a Property as a result of (i) a Casualty or Condemnation, (ii) a Remediation, (iii) a major remodeling of a Property (not to occur more often than one (1) time per every five (5) year period and for no longer than ninety (90) consecutive days), (iv) any material repairs, replacements, improvements or alterations to a Property (not to exceed thirty (30) consecutive days), or (v) a Force Majeure Event (not to exceed sixty (60) consecutive days).

Permitted Closure shall have the meaning set forth in Section 5.08 hereof.

Examples of Permitted Closure in a sentence

• The Direct-Owned Restaurant Fee Credit will be calculated on a pro rata basis as follows: the Direct-Owned Restaurant Unit Fee originally paid by Master Franchisee for the Permitted Closure Restaurant divided by the number of years of the Unit Addendum Term for the Permitted Closure Restaurant, multiplied by the full period remaining in the term of the Permitted Closure Restaurant.

• While the Development Rights are in effect, Master Franchisee will be entitled to receive a credit in the amount of the unused portion of the Direct-Owned Restaurant Unit Fee paid for a Permitted Closure Restaurant previously operated by Master Franchisee (the “Direct-Owned Restaurant Fee Credit”).

• By way of illustration only, if the Direct-Owned Restaurant Unit Fee was [***], the initial term was 20 years, and the Permitted Closure Restaurant closed at the end of the second year of the term, the Direct-Owned Restaurant Fee Credit would be [***] ÷ 20, and that amount ([***]) would be multiplied by 18 (the unused portion of the term), to obtain a Direct-Owned Restaurant Fee Credit of [***].

• Master Franchisee has the sole discretion to determine which Direct-Owned Restaurants are designated as Permitted Closure Restaurants [****].

• If a Relief Event described in clause (a) or (l) of the definition thereof results in a Closure of one or more Segments, and Developer uses commercially reasonable efforts to mitigate the effects of such Relief Event and the resulting Closure, then such a Closure shall be deemed a Permitted Closure for as long as such Closure persists or up to [30] days, whichever is less.

More Definitions of Permitted Closure

Permitted Closure the Premises are vacant and unoccupied (i) in consequence of any damage or destruction, but only for the period of time reasonably required to complete repair and restoration of same; or (ii) for the purpose of carrying out Alterations approved by the Landlord, but only for the period of time reasonably required to complete same; or (iii) for the purpose of carrying out repairs or decorations to enable the Tenant to comply with clause ‎7.1 where such repairs or decorations cannot reasonably be carried out without closure of the Premises, but only for the period of time reasonably required to complete same or (iv) where such closure is in accordance with good operational practice on account of infectious diseases or similar circumstances; or (v) where such closure is otherwise permitted pursuant to clause ‎9.1.

Permitted Closure means, following the commencement of operations at the Stadium, a closure of the Stadium for any of the following:

Permitted Closure has the meaning given in the Payment Schedule.

Permitted Closure has the meaning set forth in Section 2.8 of Exhibit 8 (Payment Mechanism).

Permitted Closure means a closure of Tenant’s operation from the business due to (a) federal governmental holidays, (b) force majeure and/or other casualty or condemnation event, or (c) necessary and diligently- pursued repairs and/or maintenance to the Premises (not to exceed forty-five [45] days during any single year period measured from Initial Payment). For example, if Tenant fails to operate for twenty (20) days in a single year period and such failure is not due to a Permitted Closure, then NURA’s One Hundred Seventy- Five Thousand and 00/100 Dollar ($175,000.00) payment obligation shall be reduced by Nine Thousand Six Hundred and 00/100 Dollars ($9,600.00).

Permitted Closure means a closure of all or any portion of the Museum or the Premises to the extent caused by one or more of the following causes: (i) one or more causes of Unavoidable Delays, but only for the time period(s) arising as a direct result of such cause; (ii) Restoration, provided such Restoration shall be performed (A) in a diligent and continuous manner and (B) otherwise in accordance with the provisions of this Lease governing Restoration; (iii) Chiller Plant Platform Work, provided that such closure shall be limited to the portion of the Premises so affected); and (iv) Major Construction Work or other required repairs to the Premises, provided

Permitted Closure means any closure resulting from the following: (i) legal (state and federal) holidays, (ii) repairs arising from casualty or condemnation, (iii) remodeling or alterations under Article 8, or (iv) compliance with applicable law, ordinance or government regulation. If the main entrance to the Restaurant is from the Building lobby, then Landlord shall, at Landlord’s sole cost and expense prior to the opening of such Restaurant, relocate the security turnstiles to preclude Restaurant patrons from having access to the elevator lobby serving the Premises. In any event, there will be no entrance or exit to the Restaurant where patrons will have access to the elevator lobby serving the Premises. Landlord and Tenant agree and acknowledge that examples of restaurants considered consistent with a Class A office complex include, but are not limited to, Gibsons, Capital Grille, Xxxxx Carry, Xxxx’x, Le Colonial, Avec, Girl and the Goat, Pour House, Bakersfield, Maggiano’s, Sullivan’s, Xxxx’x Xxxxx, Brio, Rosebud, Doc B’s and Starbucks, as such restaurants are operated as of the date of this Lease, and examples of Restaurants that are not considered consistent with a Class A office complex include, but are not limited to, Hooters, Bennigans, TGIFriday’s, Chili’s and Cheesecake Factory, as such restaurants are operated as of the date of this Lease.