Common use of Storage Spaces Clause in Contracts

Storage Spaces. In addition to the Premises identified in Article 2 hereof, the Landlord hereby leases to the Tenant and the Tenant hereby leases from the Landlord, upon the terms and conditions herein, the following storage spaces (hereinafter collectively referred to as the “Storage Spaces”): 19.8.1 Storage Space No. 85-4 located on level P2 of the Building and consisting of approximately 315 square feet of rentable area (“Storage Space No. 1”); 19.8.2 Storage Space No. 85-5 located on level P2 of the Building and consisting of approximately 515 square feet of rentable area (“Storage Space No. 2”); 19.8.3 Storage Space No. 85-6 located on level P2 of the Building and consisting of approximately 512 square feet of rentable area (“Storage Space No. 3”); 19.8.4 Storage Space No. 85-8 located on level P2 of the Building and consisting of approximately 150 square feet of rentable area (“Storage Space No. 4”). The term of this Lease shall commence in respect to Storage Space No. 1 on December 1, 1994, in respect to Storage Space No. 2 on November 1, 1994, in respect to Storage Space no. 3 on June 1, 1993 and in respect to Storage Space no. 4 on November 1, 1993. The term for the Stooge Spaces shall expire on October 31, 2003, unless terminated earlier pursuant to this Lease. The Stooge Spaces shall be used by the Tenant only for the purpose of storage and for no other purpose. The Tenant shall pay to the Landlord, for their respective Lease Year, in lawful money of Canada yearly throughout the term of this Lease for the Storage Spaces an annual rent calculated on the basis of FIFTEEN DOLLARS ($15.00) per square foot of the rentable area of the Storage Spaces, in equal and consecutive monthly installments of one twelfth (1/12) of the aforesaid annual rent, each in advance without set-off, compensation or deduction whatsoever, on the first day of each month. The Tenant shall not be obliged to pay to the Landlord, in respect to the Storage Spaces, the Tenant’s Proportionate Share of Real Estate Taxes and the Tenant’s Proportionate Share of Operating Costs.