Lease of Parking Spaces Clause Samples
The 'Lease of Parking Spaces' clause establishes the terms under which parking spaces are provided to the tenant as part of the lease agreement. It typically specifies the number of spaces allocated, their location, any associated fees, and the rules governing their use, such as restrictions on vehicle types or subleasing. This clause ensures both parties have a clear understanding of parking rights and obligations, helping to prevent disputes over access, usage, or additional costs related to parking during the lease term.
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Lease of Parking Spaces. Tenant is obligated to lease the number of unreserved parking spaces on the roof level of the Project parking garage as specified in the Basic Lease Information and the number of reserved parking spaces on the third level of the Project parking garage as specified in the Basic Lease Information, throughout the Term and any extension thereof, subject, however, to the provisions of this Section 30.1. Tenant shall pay the parking rental being charged for such spaces, as the same may be increased from time to time, in advance, as Rent, on the first day of each month. The parking rental payable by Tenant hereunder may include taxes imposed on the use of the parking spaces by any governmental or quasi-governmental authority. The parking rental in effect as of the Lease Date is $190.00 per month for each unreserved parking space and $280.00 per month for each reserved parking space. The use of such spaces shall be for the parking of motor vehicles used by Tenant, its officers and employees only, and shall be subject to applicable Requirements. Parking spaces may not be assigned or transferred separate and apart from this Lease. Upon the expiration or earlier termination of this Lease, Tenant’s rights with respect to all leased parking spaces shall immediately terminate. Further, if Tenant fails to pay parking rental when the same shall be due, then, upon written notice from Landlord, in addition to all other remedies available to Landlord, Tenant’s rights with respect to all leased parking spaces shall immediately terminate. If Tenant’s rights to parking spaces terminate, Tenant shall not have any right to any such terminated parking for the remainder of the Term, and Landlord shall have no obligation to procure substitute parking for Tenant.
Lease of Parking Spaces dated July 10, 2008, by and between Hub Properties Trust (“Landlord”) and Stonecreek Medical Associates, P.C. (“Tenant”). Re: 1 space
Lease of Parking Spaces dated February 4, 2003, by and between Hub Properties Trust (“Landlord”) and Paradise Valley Family Medicine (“Tenant”). -Terminated
Lease of Parking Spaces. Tenant shall be entitled to lease Tenant's Percentage Share of the number of parking spaces located in the Parking Facility in accordance with the terms and conditions of this Section 30.1. Landlord currently estimates that the Parking Facility will contain 130 parking spaces and that the portion of the Parking Facility located directly under the Building will contain 89 parking spaces. On or before the date which is one hundred fifty (150) days after the Lease Commencement Date, Landlord shall provide to Tenant written notice of the number of parking spaces located in the Parking Facility and Tenant's Percentage Share of such parking spaces. On or before the date which is one hundred eighty (180) days after the Rent Commencement Date, Tenant shall provide written notice of the number of parking space (not to exceed Tenant's Percentage Share of number of parking spaces located in the Parking Facility as of the Lease Commencement Date) that Tenant elects to lease ("Tenant's Parking Election Notice"). Commencing as of the delivery of Tenant's Parking Election Notice, Tenant shall he obligated to lease the number of parking spaces designated in Tenant's Parking Election Notice and, if no Tenant's Parking Election Notice is delivered, Tenant shall have elected to lease six (6) parking spaces. If at any such time the spaces leased by Tenant exceed Tenant's Percentage Share of the then number of parking spaces located in the Parking Facility, Tenant shall only be entitled to tease up to such Tenant's Percentage Share. The parking charge for each such space shall initially be Four Hundred Dollars ($400.00) per parking space per month (the "Parking Charge"). The Parking Charge shall be subject to increase from time to time in an amount that taxes imposed on the use of the parking spaces in the Parking Facility by any governmental or quasi-governmental authority allocable to each calendar year exceeds the amount of such taxes allocable to the Base Tax Year. The increase in the Parking Charge shall be calculated by dividing such increase by the total number of parking spaces within the Parking Facility. Parking Charges shall constitute Rent hereunder and shall be payable in advance, at the same time and in the same manner as Base Rent (but shall not be subject to abatement as provided in Section 4.5); provided, however, that for the period commencing on the Rent Commencement Date until the third anniversary of the Rent Commencement Date (the "Reduced Parking Charge ...
Lease of Parking Spaces dated February 25, 2003, by and between Hub Properties Trust (“Landlord”) and ▇▇▇▇▇▇▇▇ & ▇▇▇▇▇▇ Consulting Engineers, Inc. (“Tenant”). Re: Seven (7) reserved parking located on P1 level of parking garage on month to month basis.
Lease of Parking Spaces dated April 22, 2003, by and between Hub Properties Trust (“Landlord”) and United States Trust Company of New York (“Tenant”).
Lease of Parking Spaces dated August 1, 2006, by and between Hub Properties Trust (“Landlord”) and Southwest Hematology Oncology, P.C. (“Tenant”).
Lease of Parking Spaces dated December 11, 2006, by and between Hub Properties Trust (“Landlord”) and Camelback Women’s Health, P.C. (“Tenant”). —Copy Terminated 6/30/08
Lease of Parking Spaces. WEEKDAY DAYTIME PARKING LICENSE. Between the hours of 7:00 a.m. ------------------------------- and 6:00 p.m. Monday through Friday, Landlord hereby leases to Tenant uncovered and unassigned parking spaces in the ratio of four and one-half (4 1/2) stalls per 1,000 square feet of rentable area in the Leased Premises, located in the improvements adjacent to the Building. Said Lease shall be for a period concurrent with the term of the Office Lease, as the same may be extended or renewed.
Lease of Parking Spaces. During the Term, Tenant shall have a license to use, for vehicle parking only and on a non-reserved basis, without charge, Tenant’s Percentage Share of (i) the automobile parking located within the automobile parking areas shown on the Site Plan for use by Tenant’s employees and business invitees, and (ii) the truck parking located within the truck parking areas shown on the Site Plan use by Tenant. The parties hereto stipulate and agree that, based upon the size of the Premises, Tenant shall have use of a minimum of forty (40) car parking spaces. The license granted Tenant herein shall terminate automatically and without the necessity for any further notice upon any termination of this Lease or Tenant’s right to possession of the Premises. Landlord shall have the right to grant to other tenants of the Building the right to use automobile and truck parking spaces, without being deemed in breach of this Lease. Landlord will have the right to implement and enforce reasonable rules and regulations of the use of the parking areas on the Property, from time to time, upon giving Tenant written notice thereof; and any violation of any such rules and regulations by Tenant or its employees or business invitees after expiration of any applicable notice and cure period shall constitute a default on the part of Tenant under this Lease. Landlord reserves the right, in its reasonable discretion, to determine whether such parking areas are becoming crowded and, in such event, to allocate specified parking stalls among Tenant and other tenants in the Property, provided, in no event shall such allocation result in a reduction to the minimum number of parking spaces made available to Tenant. All parking spaces, other than those for truck parking, may only be used for parking vehicles no larger than full-size passenger automobiles, SUV’s or pick-up trucks. Tenant shall be permitted to park, on a short term basis, tractor-trailer trucks, box trucks and other commercial vehicles in the loading dock areas located on the Premises. Landlord, in addition to its other remedies, shall have the right to remove or tow away any oversized vehicles violating any Requirements. Landlord shall not be responsible for enforcing Tenant’s parking rights against any third parties, provided, however, Landlord shall use reasonable efforts, such as installing parking signage, to prevent parking in the parking area by parties not otherwise permitted to park in the parking area on the Property pursua...