Vacant Space definition

Vacant Space shall have the meaning set forth in Section 3.4(b)(vii).

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Vacant Space shall have the meaning set forth in Section 6.5.2.

Vacant Space means space in the Project that is rentable for commercial purposes and that is not the subject of a Lease, New Lease or any other occupancy right as of the Phase I Closing Date. If a Lease, New Lease or any other occupancy right that is fully executed prior to the expiration of the First Segment (as hereinafter defined) is terminated prior to the expiration of the First Segment (provided Purchaser consents, in its sole discretion, to such termination), no Closing Payment or Earn-Out Payment has been paid in respect to such terminated Lease, New Lease or any other occupancy right, and the subject space is not the subject of a different Lease, New Lease or any other occupancy right at the expiration of the First Segment, then such space shall also be deemed to be "Vacant Space" at the expiration of the First Segment.

Examples of Vacant Space in a sentence

• To that end, Seller agrees to escrow with Escrow Agent at Closing, an amount equal to (i) $15.00 per square foot of the Vacant Space for anticipated tenant improvement allowances applicable to the Vacant Space, plus (ii) $3.00 per square foot of the Vacant Space for anticipated leasing commissions applicable to the Vacant Space (collectively, the “Leasing Escrow”).

• At such time as Seller provides Purchaser with a new lease for any portion of the Vacant Space (and such new occupant has satisfied the Occupancy Conditions), Purchaser shall, upon ten (10) days advance written notice from Seller, pay to Seller a portion of the Unfunded Purchase Price in an amount equal to the annual base rent payable under said new lease (such base rent in no event to exceed 110% of the pro forma annual base rent for such space per the attached Exhibit B) divided by the Base Rent Divider.

• All leases for the Vacant Space shall comply with the Leasing Parameters attached hereto as Exhibit F or shall otherwise be approved in writing by Purchaser.

• During the term of the Earnout Period (and prior to the satisfaction of the Occupancy Conditions of any portion of the Vacant Space by a new tenant), Seller shall be responsible for the monthly pro rata share of taxes, insurance and common area expenses (collectively, the “Operating Expenses”) allocable to the Vacant Space.

• Once any portion of the Vacant Space is leased to, and occupied by, a tenant then satisfying the Occupancy Conditions, Seller’s obligation to pay Purchaser the Operating Expenses allocable to that portion of the Vacant Space shall terminate and the balance of the Operating Expense Escrow allocable to said space shall be promptly paid to Seller.

More Definitions of Vacant Space

Vacant Space shall have the meaning given to such term in Section 14.1 hereof.

Vacant Space means a parcel or portion thereof characterized by a lack of built environment.

Vacant Space means the space located within the Improvements located on a Holdback/Adjustment Property that is not Leased as of the applicable date upon which such calculation is to be made hereunder for such Holdback/Adjustment Property (i.e., the Effective Date, the date of a Closing, the Determination Date (as herein defined) or such other calculation date as is herein provided).

Vacant Space. The presently vacant portion of the Premises containing (Exhibit "B") approximately 44,263 square feet. BUILDING AREA: Approximately 82,756 square feet. (Article 4) TERM: Ten years, with one option to extend for a period of five (Article 3) years.

Vacant Space means that portion of an existing building which has not been leased during the period from the date of Closing until the Phase II Expiration Date (or if leased during such period, such lease was terminated prior to the Rent Commencement Date), and for which no Qualified Phase II Lease was rejected by Purchaser, pursuant to Section 1.03(D)(2)(b).

Vacant Space means a lease for space that is described as “Vacant Space” on Exhibit “B” (as modified by New Exhibit “B” to this Amendment).

Vacant Space shall have the meaning ascribed to such term in Section 3.3(f)(i)(G) herein.