Common use of Protected Areas Clause in Contracts

Protected Areas. a. It is agreed that in case that during the period of lease if the l▇▇▇▇▇ should negotiate with any third party regarding the lease of the gross area of 231sqm adjacent to the leased premises whose boundaries are marked in blue on the plans attached to the contract as an Appendix C (hereinafter: “The Additional Area”), in full or in part, that the L▇▇▇▇▇ will not to enter into a contractual agreement with any said third party unless the Lessee has been given notification of the existence of negations, in any stage whatsoever during the negations (hereinafter: the L▇▇▇▇▇’▇ Notification”). b. The Lessee has the right within 10 only, from the date of the L▇▇▇▇▇’▇ notification, to inform the L▇▇▇▇▇ of his wish to lease the additional area (in its entirety) and this done by unreserved or unconditional written notification or has not delivered any message in this aforementioned time, will be considered as the L▇▇▇▇▇’▇ notification concerning his non desire to lease the additional area. c. If the Lessee chooses to l▇▇▇▇▇ the additional area and delivers a notification for such as required above, the Lessee will lease the additional area in accordance with the conditions of the contract and its appendixes when: (1) The period of lease will begin from the date of populating of the additional area or within 4 calendar months from the date of issue of the Lessee’s notification, according to the earlier of the two. (2) The Lease fees, the management fees and the negotiations fees for the first three months for the additional area will be paid with the issue of Lessee’s notification. (3) The indemnity according to section 4.2 of Appendix A of the contract, for the additional area, will be calculated according to 40% of the construction budget for the additional area in case of the termination of the lease at the end of the third year of the period of lease for the additional area or according to 20% of the construction budget for the additional area in case of termination of the lease after the fourth year of release period for the additional area, calculated according to the fundamental dollar rate and linked to the fundamental index, with the addition of VAT. (4) The number of parking places that the lessee will be entitled to for the additional area is 6 (no payment for parking, except for municipal taxes only). (5) It is made clear that the additional area does not include a PA.