Example ContractsClausesCommon Units
Common Units
Common Units contract clause examples

Common Areas. The "common area", to which Lessee shall have non-exclusive use rights, consists of # the interior common area located in the above described building, i.e., areas normally accessible to tenants such as the hallways, stairwells, elevators, lobby, restrooms, and snack bar areas, and # the exterior common area located outside the building on the above described land, i.e., loading areas, sidewalks, driveways, parking garage, parking areas, and other open areas (if any), subject to paragraph 9.2 on parking.

Common Stock. Common Stock shall mean the common stock of the Company, $0.01 par value per share.

Common Areas. Tenant shall have the non-exclusive right to use in common with other tenants in the Project, and subject to the rules and regulations referred to in Article 5 of this Lease, those portions of the Project which are provided, from time to time, for use in common by Landlord, Tenant and any other tenants of the Project, including, without limitation, the parking facilities at the Project (such areas, together with such other portions of the Project designated by Landlord, in its discretion, including certain areas designated for the exclusive use of certain tenants, including Tenant, or to be shared by Landlord and certain tenants, including Tenant, are collectively referred to herein as the “Common Areas”). The Common Areas shall consist of the “Project Common Areas” and the “Building Common Areas”. The term “Project Common Areas”, as used in this Lease, shall mean the portion of the Project designated as such by Landlord. The term “Building Common Areas”, as used in this Lease, shall mean the portions of the Common Areas located within the Building designated as such by Landlord. During Landlord’s ownership of the Project, the Tenant experience will include Longfellow’s ELEVATE Amenity Program- a proprietary tenant experience and hospitality program, cultivating greatness through curated events, programming and services exclusively for Longfellow’s tenants; provided, however, Landlord reserves the right to change and to evolve the program elements and offerings during the Lease Term. Tenant acknowledges that the ELEVATE Amenity Program is unique to Longfellow properties and not transferrable to future owners of the Project. The manner in which the Common Areas are maintained and operated shall be at the sole discretion of Landlord (but shall at all times be consistent with first class life sciences project in the vicinity of the Project) and the use thereof shall be subject to such reasonable, non-discriminatory rules, regulations and restrictions as Landlord may make from time to time in accordance with Section 5.2 below and provided to Tenant in writing. Any rules and regulations established by the Landlord for use of the Common Areas shall not unreasonably restrict Tenant’s access to or use of the Premises for conduct of its business, nor diminish Tenant’s rights under this Lease. In the event of any conflict between such rules and regulations and the terms of this Lease, the latter shall control. Landlord reserves the right to close temporarily, make alterations or additions to, or change the location of elements of the Project and the Common Areas, provided that, in connection therewith, Landlord shall perform such closures, alterations, additions or changes in a commercially reasonable manner and, in connection therewith, shall use commercially reasonable efforts to minimize any material interference with Tenant’s use of and access to the Premises and further provided that such changes will not increase Tenant’s obligations under this Lease.

Common Area. Tenant may, subject to any CC&Rs and any Rules or Regulations, use the following areas of the Building (“Common Area”) in common with Landlord, tenants of the Building and/or other owners, tenants or lawful users of the Building: refuse facilities, landscaped areas, roads, driveways necessary for access to the Premises, parking spaces, retention basins and other common facilities designated by Landlord from time to time for the common use of all tenants of the Building. Landlord shall not be responsible for non-compliance by any other tenant with, or Landlord’s failure to enforce, any of the Rules or Regulations or CC&Rs or any other terms or provisions of such tenant’s or occupant’s lease. Tenant shall promptly comply with the reasonable requirements of any board of fire insurance underwriters or other similar body now or hereafter constituted. Tenant shall not do any act which shall in any way encumber the title of Landlord in and to the Premises, or the Building.

Common Areas. “Common Areas” will mean all areas, spaces, facilities, and equipment in the Project made available by Landlord for the common and joint use of Landlord, Tenant and others, including, but not limited to, sidewalks, parking areas, driveways, landscaped areas, loading areas, public corridors, public restrooms, stairs, drinking fountains and such other areas and facilities, if any, as are designated by Landlord from time to time as Common Areas.

Common Areas. Subject to the other terms and conditions of this Lease, Landlord shall maintain, repair and if necessary replace the Common Areas. The cost of the maintenance, repair and replacement of the Common Areas shall be paid by Tenant as part of Operating Expenses.

Common Expenses. Except as otherwise provided in this Declaration, including, without limitation, as to assessments pertaining to Exclusive Use Area Expenses, certain Common Expenses attributable to Common Utility Lines, including Common Water Lines, and Common Parking Expenses, and except for Reimbursement Assessments described in Section 2.7, all Regular Assessments and Special Assessments shall be allocated pro rata among all Building Lot Owners entitled to use the Common Areas in question, with each Building Lot Owner's share to be a fraction, the numerator of which shall be the “Deemed Area of Land” for each such Owner's Building Lot, and the denominator of which shall be the sum of the various numerators for all Owners of Building Lots entitled to use such Common Areas (which shall specifically exclude the acreage of the Common Area Lots and all public dedications). The Deemed Area of Land for each Building Lot for all purposes of this Declaration shall mean the actual acreage of the Building Lot in question (as set forth on Exhibit “C”), plus the area of additional land, if any, which is attributable to parking areas allocated for use by the Owner, Occupants and Permittees of such Building Lot by easement from another Building Lot in the Project, and less the land area, if any, which is located upon such Building Lot and which is allocated by easement for parking use by the Owners, Occupants and Permittees of another Building Lot in the Project. Exhibit “D” attached hereto sets forth, among other things, the Deemed Area of Land allocated to each Building Lot as of the date of recordation of this Declaration which is based upon the pending amended development plan for the Project. The Deemed Area of Land for each Building Lot shall be adjusted to reflect any changes to the amended development plan for the Project once approved by the City and recorded.

Common Areas. The Operator shall maintain, repair, replace, restore, operate, control and manage all Common Area Lots and all Common Areas of the Project wherever located and all facilities, Improvements and equipment located thereon, including without limitation, all Common Water Lines, Common Utility Lines, Common Landscaping and Common Parking Areas as further described in Article 8 below, except to the extent such maintenance has been assumed by a governmental agency or public or private utility, and except as otherwise set forth herein. The Operator may employ or contract with third party managers, employees or other persons to manage the Common Area Lots and other Project Common Areas on behalf of the Operator. The Owner of each Lot covenants and agrees to the foregoing and that it shall cooperate with the Operator in the administration of this Declaration. Nothing in this Section or elsewhere in this Declaration shall preclude or be interpreted as precluding the Operator from retaining a “managing agent” within the meaning of §1363.1 of the California Civil Code, as it may be amended or replaced from time to time, to perform all or any portion of the duties and responsibilities of the Operator. If the Operator so retains such a “managing agent,” then the “managing agent” and the Operator shall make all arrangements necessary or proper to ensure that funds accepted or received by the “managing agent” and belonging to the Operator are deposited and handled in compliance with §1363.2 of the California Civil Code, as it may be amended or replaced from time to time. The Operator may retain an affiliate of Declarant as managing agent and the Operator may contract for equipment, tools, supplies and other goods for the Common Area and may employ personnel necessary for the effective operation and maintenance of the Common Area.

Units” means, collectively, the Common Units and the Pre-Funded Units.

OP Units” shall mean those units of common Partnership Interest issued prior to the date hereof and any additional units of common Partnership Interest issued pursuant to this Agreement.

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