Common use of Tenant Use Parking Improvements Clause in Contracts

Tenant Use Parking Improvements. (a) Tenant shall have (i) subject to the terms of the Offsite Parking Land Tidelands Use and Occupancy Permit (“Offsite Parking Land TUOP”), the exclusive right to use the Offsite Parking Land7 (A) for the parking of motor vehicles and (B) for the development of parking spaces, roadways and other means of pedestrian and vehicular access that are necessary or appropriate for the parking of vehicles for the Initial Improvements in accordance with the Plans (“Surface Parking Improvements”); and (ii) the exclusive right to use any surface parking Tenant may develop on the Premises in accordance with the Plans (“Premises Surface Parking”). (b) Tenant shall pay to Landlord monthly rent for the use of Surface Parking Improvements equal to the product of three percent (3%) multiplied by all Surface Parking Improvement Revenue for the applicable calendar month during the term of the Offsite Parking Land TUOP, which shall be subject to the adjustment set forth in the last sentence of this clause (b) (“Surface Parking Improvements Rent”). "Surface Parking Improvement Revenue" means the following amounts whether collected or uncollected, received, payable or accrued by Tenant, without any deductions or exclusions, whether paid in cash or for credit: