PARKING ADDENDUM. Tenant shall have the right to use in the garage located within the Building a total of two (2) parking spaces, which shall be for unreserved spaces. If Tenant relinquishes any of such parking rights during the Term, Tenant shall no longer have a right to the parking relinquished and may obtain future parking solely upon a space-available basis. Rates charged by Landlord or its operator for such parking shall be the prevailing market rate for reserved or unreserved parking spaces, as the case may be, in such location as established by Landlord or its operator from time to time. The current rates are $675 per space per month for reserved spaces and $430 per space per month for unreserved spaces. Tenant’s right to use of the parking shall be subject to (i) timely payment of the parking rate as established from time to time, (ii) such further rules and regulations as Landlord or its operator may establish from time to time, and (iii) all applicable laws, ordinances, rules and regulations. Any additional month to month parking spaces that Tenant may from time to time request shall be at the prevailing market rate and subject to availability in accordance with Landlord’s customary practices in managing the garage at the Building.
Appears in 2 contracts
Sources: Lease Agreement (Rhythm Pharmaceuticals, Inc.), Lease Agreement (Rhythm Pharmaceuticals, Inc.)