Office Lease Agreement - Free Download | Page 6
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R. "Common Areas" shall mean those areas located within the Building or on the Property used for
corridors, elevator foyers, mail rooms, restrooms, mechanical rooms, elevator mechanical rooms,
property management office, janitorial closets, electrical and telephone closets, vending areas, and
lobby areas (whether at ground level or otherwise), entrances, exits, sidewalks, skywalks, tunnels,
driveways, parking areas and parking garages and landscaped areas and other similar facilities
provided for the common use or benefit of tenants generally and/or the public.
S. “Default Rate” shall mean the lower of (i) the Prime Rate plus six percent (6%) or (ii) the
Maximum Rate.
T. “Maximum Rate" shall mean the highest rate of interest from time-to-time permitted under
applicable federal and state law.
U. "Normal Business Hours" for the Building shall mean 8:00 a.m. to 6:00 p.m. Mondays through
Fridays, and 8:00 a.m. to 1:00 p.m. on Saturdays, exclusive of Holidays.
V. "Prime Rate" shall mean the per annum interest rate announced by and quoted in the Wall Street
Journal from time-to-time as the prime or base rate.
W. “Property” shall mean the Building and the parcel(s) of land on which it is located, other
improvements located on such land, adjacent parcels of land that Landlord operates jointly with the
Building, and other buildings and improvements located on such adjacent parcels of land.
X. "Service Areas" shall mean those areas within the Building used for stairs, elevator shafts, flues,
vents, stacks, pipe shafts and other vertical penetrations (but shall not include any such areas for the
exclusive use of a particular tenant).
Y. “Notice Addresses” shall mean the following addresses for Tenant and Landlord, respectively:
Tenant:
with a copy to:
Landlord:
________________________________________
Attn:____________________________________
with a copy to:
