Common use of Reserved Spaces Clause in Contracts

Reserved Spaces. Notwithstanding anything to the contrary contained herein, in addition to the foregoing parking privileges, Tenant shall have the right to five (5) reserved parking spaces designated by Landlord in the parking area located on levels 1 and 2 of the “East Garage” (the “Reserved Spaces”), which Reserved Spaces shall be subject to all the terms and conditions of this Lease applicable to Tenant’s other parking privileges, except that there may be a higher monthly tenant parking rate for Reserved Spaces, and the aforesaid Reserved Spaces shall not be subject to relocation to the “West Garage” pursuant to Section 10.1. Currently the rate therefor is $300.00 per space per month. Landlord shall not grant to anyone other than Tenant the right to use such Reserved Spaces and will use reasonable efforts, by the use of signs and markings, to designate such space to be used exclusively by Tenant, however, Landlord shall not be otherwise obligated to police the use of the Reserved Spaces which Tenant recognizes is to be operated on a self parking basis. Notwithstanding the foregoing or any other provision hereof or of the 8CC Lease to the contrary, if Tenant is a tenant in both the Building and the 8CC Building and the Building and the 8CC Building are each owned by Landlord or Affiliates of Landlord, then Tenant shall have the right to increase or decrease the number of Reserved Spaces under this Lease and the 8CC Lease, provided that the total number of Reserved Spaces under this Lease and the 8CC Lease shall not exceed twenty (20) Reserved Spaces in the aggregate. However, Tenant must give Landlord at least sixty (60) days’ advance written notice of Tenant’s desire to make any such increase or decrease, and may not implement any such increase or decrease more than once during any period of 365 consecutive days. Additionally, if Tenant should elect, subject to the aforesaid qualifications, to increase the number of Reserved Spaces under this Lease to more than five (5), such additional Reserved Spaces shall be located on levels 1 and 2 of the “East Garage” only on a space available basis, and otherwise they shall be located on the next higher level of the “East Garage.”

Appears in 1 contract

Sources: Lease Agreement (Akamai Technologies Inc)

Reserved Spaces. Notwithstanding anything to the contrary contained herein, in addition to the foregoing parking privileges, Tenant shall have the right to five fifteen (515) reserved parking spaces designated by Landlord in the parking area located on levels 1 P-1 and 2 P-2 of the “East West Garage” (the “Reserved Spaces”), which Reserved Spaces shall be subject to all the terms and conditions of this Lease applicable to Tenant’s other parking privileges, except that there may be a higher monthly tenant parking rate for Reserved Spaces, and the aforesaid Reserved Spaces shall not be subject to relocation to the “West East Garage” pursuant to Section 10.1. Currently the rate therefor is $300.00 per space per month. Landlord shall not grant to anyone other than Tenant the right to use such Reserved Spaces and will use reasonable efforts, by the use of signs and markings, to designate such space to be used exclusively by Tenant, however, Landlord shall not be otherwise obligated to police the use of the Reserved Spaces which Tenant recognizes is to be operated on a self parking basis. Notwithstanding the foregoing or any other provision hereof or of the 8CC 4CC Lease to the contrary, if (i) Tenant is a tenant in both the Building and the 8CC Building and 4CC Building, (ii) the Building and the 8CC 4CC Building are each owned by Landlord or Affiliates of Landlord and (iii) the “East Garage” and “West Garage” are each owned by Landlord or Affiliates of Landlord, then Tenant shall have the right to increase or decrease the number of Reserved Spaces under this Lease and the 8CC 4CC Lease, provided that the total number of Reserved Spaces under this Lease and the 8CC 4CC Lease shall not exceed twenty (20) Reserved Spaces in the aggregate. However, Tenant must give Landlord at least sixty (60) days’ advance written notice of Tenant’s desire to make any such increase or decrease, and may not implement any such increase or decrease more than once during any period of 365 consecutive days. Additionally, if Tenant should elect, subject to the aforesaid qualifications, to increase the number of Reserved Spaces under this Lease to more than five fifteen (515), such additional Reserved Spaces shall be located on levels 1 P-1 and 2 P-2 of the “East West Garage” only on a space available basis, and otherwise they shall be located on the next higher level of the “East West Garage.”

Appears in 1 contract

Sources: Lease Agreement (Akamai Technologies Inc)

Reserved Spaces. Notwithstanding anything Twenty-six (26) standard size reserved parking spaces shall be leased to Tenant at a rental rate of Two Hundred Eighty-Five Dollars ($285.00) per month per space (the contrary contained herein, in addition to the foregoing parking privileges, Tenant shall have the right to "Reserved Spaces"). At least five (5) reserved parking spaces designated by Landlord in the parking area located on levels 1 and 2 of the “East Garage” (the “Reserved Spaces”), which Reserved Spaces shall be subject to all the terms and conditions of this Lease applicable to Tenant’s other parking privileges, except that there may be a higher monthly tenant parking rate size suitable for Reserved Spaces, and the aforesaid Reserved Spaces shall not be subject to relocation to the “West Garage” pursuant to Section 10.1limousine parking. Currently the rate therefor is $300.00 per space per month. Landlord shall not grant to anyone other than Tenant the right to use such Reserved Spaces and will use reasonable efforts, by the use of signs and markings, to designate such space to be used exclusively by Tenant, however, Landlord shall not be otherwise obligated to police the use The location of the Reserved Spaces which Tenant recognizes is are depicted in EXHIBIT A. Landlord reserves the right, in its sole reasonable discretion, to be operated on a self parking basis. Notwithstanding change the foregoing location within the garage of any or any other provision hereof or all of the 8CC Reserved Spaces. The Original Term for the Reserved Spaces shall have an Expiration Date of December 31, 1995. Tenant shall have and is hereby given the options to renew and extend the Term of this Lease as to the contraryReserved Spaces for one (1) six (6) month period ending June 30, 1996, and one (1) successive six (6) month period ending December 31, 1996 to follow consecutively upon the expiration of the Original Term of this Lease as to such Reserved Spaces. An option may be exercised by Tenants giving Landlord written notice of its irrevocable exercise of the same not less than nine (9) months prior to the expiration date of the then prevailing Term or Renewal Term of this Lease as to the Reserved Spaces which are subject to the particular option. Subject to the provisions of this Section, Tenant may renew this Lease and extend the Term hereof under each option as to all, but not some, of the Reserved Spaces that are, on the date of the exercise of the option, subject to this Lease. The renewal and extension of this Lease under each renewal option shall be on and under the same covenants, agreements, terms, provisions, and conditions as are contained herein for the Original Term as to such Reserved Spaces except that the monthly rental rate per space may be adjusted by Landlord. However, in no event shall the monthly rental rate per Reserved Space exceed the charge then being made in the ▇▇▇▇ Building Garage in San Francisco, California (or if that garage is not being operated, in comparable facilities in the immediate vicinity of the Building). The exercise of each of Tenant's options to extend the Term of this Lease as to the Reserved Spaces is contingent upon the concurrent exercise of Tenant's options to renew the Term of the Lease as to Floors 16, 17 and 18 pursuant to EXHIBIT F. However, in the event that Tenant is exercises a tenant in both the Building renewal option as to at least one, but not all three, of Floors 16, 17 and the 8CC Building and the Building and the 8CC Building are each owned by Landlord or Affiliates of Landlord18, then Tenant shall have may exercise its corresponding renewal option as to the right to increase or decrease the Reserved Spaces only for a proportionate number of Reserved Spaces under this Lease spaces, based upon the rentable square footage of Floors 16, 17 and 18 being renewed divided by the 8CC Leaserentable square footage of Floors 16, provided that the total number of Reserved Spaces under this Lease 17 and the 8CC Lease shall not exceed twenty (20) Reserved Spaces in the aggregate. However, Tenant must give Landlord at least sixty (60) days’ advance written notice of Tenant’s desire to make any such increase or decrease, and may not implement any such increase or decrease more than once during any period of 365 consecutive days. Additionally, if Tenant should elect, subject to the aforesaid qualifications, to increase the number of Reserved Spaces under this Lease to more than five (5), such additional Reserved Spaces shall be located on levels 1 and 2 18 as of the “East Garage” only on a space available basis, and otherwise they shall be located on the next higher level of the “East GarageCommencement Date.

Appears in 1 contract

Sources: Sublease (Hambrecht & Quist Group)