Taiieri Lease Agreement: Opening Obligations and Rent Payments, Exams of Law

Download Taiieri Lease Agreement: Opening Obligations and Rent Payments and more Exams Law in PDF only on Docsity! THIS EXAMINATION CONSISTS OF 12 PAGES PLEASE ENSURE THAT YOU HAVE A COMPLETE PAPER THE UNIVERSITY OF BRITISH COLUMBIA FACULTY OF LAW FINAL EXAMINATION - APRIL 2012 LAW 447A Commercial Leasing Section 1 Professor Yeung TOTAL MARKS: 100 TIME ALLOWED: 2 HOURS and 30 minutes reading time **** ** * * *** **** * * NOTE: 1. This is an open book examination, and candidates may refer to the course materials and their own class notes. 2. ANSWER ALL QUESTIONS THIS EXAMINATION CONSISTS OF 3 QUESTIONS LAW 447A Page 2/12 Lease Review Question - MARKS 50 Background Information You have been retained by the Tenant to review and comment on a lease presented to them by the Landlord for a commercial space in a large multi-tenant development (the “Development”) in Vancouver. Your client is a franchisee for a child education centre with an established international presence. The Landlord is an experienced offshore investor. The Landlord employs a professional property management company to manage the Development. The Development has a large food store as its anchor tenant. The subject space is a small unit that is well suited for a child education centre, but not for traditional retail uses. Question Review the excerpt of the lease attached hereto as Appendix “A” and provide four comments. For each comment divide your answer into the following three parts: 1) Provide any revisions to the lease you feel are necessary. Make these revisions directly to the lease. Ensure that you write your examination code on your copy of Appendix “A” and hand it in along with your examination booklet(s). 2) Provide your reasons for the revisions. 3) Provide your thoughts as to how the negotiation of the suggested revisions will proceed and resolve itself. Fact Pattern Question - MARKS 30 Facts Ralph Wiggums stumbles into your office with a lease deal. He is very excited to be opening an ice cream eating business. Ralph cheerfully tells you he is going to charge $2.50 an hour to eat people’s leftover ice cream. You suppress your sudden urge to throttle a mountain lion and nod approvingly. Ralph goes on to explain that he is leasing from his uncle a shed and an unsubdivided portion of his old homestead. Ralph wants you to draft up all the legal magic so that he can start eating ice cream. Law 447A Page 5/12 ARTICLE 2- GRANT OF LEASE 21}1 DEMISE The Landlord hereby leases to The Tsnnt, for the Term and upon and subecl to the oovsnants and conditionshereinafter expressed, the Pram sae Indiceted as outlined in retl on Schedule ‘A” herelo and containIng thanumb of square feet of Floor Area sat cut in Section 1!11(e), more or less, and which are more particularlydescribed in Schedule 2.02- LICENCE 10 USE COMMON AFEAS The Landlord grants to the Ianant for the Tem as an appurtenant part of this Lease, for uSe by The Tenent andits agents, irivitees, sor’ran, emploas, licensees and customers, In common wtlh the Landlord and othernants of tite Centre and their respective agents, Invitees, servants, emplaes, licensees and zratomers thenon-exclusive right and licence to use the C.oniroon Areas for the purposes as provided herein and inaccordance with good shoppng eriire practice, upon and subject to the covenants and conditions herenafterexpressed, and in particular, without lmlting the generality of the foregoing, such rigit, servitude, right- of- wayand Licence of use hereby granted to the Tenant shall include: (a) the right to use the Parking Aeee ncludlng the means of pedestrian arid vehicular access and theentrances and exits to and from me Centre included Therein, but excludLi those portions thereof whichconstitute any outdoor salting areas and other areas allocated to a tenant or licensee on a seasonal ortemporary basis while used and occupied) for the purpose of pedestrian and vehicular access to andtroni the Centre and the parking of vehicles in parking spaces provided therein: and(b) the right to use the public wsshrooms If provided, corridors, entrances and exits to buildings arid allother facilities provided for common use and enjoti1ent as part of the Conimon Areas. ARTJCL.E3 - TERM AND COMMENCEMENT 3.01 -TERM The Term of Ilils Lease shall be for th period set out in Section 1.01(13(i), beginning on the First Day of theterm set cut in Section l.G1(f)(ii) and terminating on the Termination Date set cut in Section tOl(f)(iii), eubectto the extension provisions of section 3.03. 302- COMMENCEMENT DLTE Notwithstanding the beginning of the Term pursuant to Section 3.01. the TaiieriI’e obligations to open forbusiness shall commence on the sadler oft (a) sixty ($0) days after the First Day of the Term as set out in Section 1.01 (fXd); (b) thedaynextfollngthe expiration citheFticturing Period assetoritin Section l.01():and (o) the day on which the Tenant opens for bosinees to the public, haig fIrst obtained the LantflOrdswritten consent to Such early opening - EXTENSION OF THE TERMINATION DPTE in the event that the Ter,arifs obligations to open for business and to pay rent commence pursuant to Section3.02 on a day which Is alter the First Day of the Term end eIther (a) the First day of the Term falls on the tirat day of a calendar montft or (b) the First Day o the Term falls on a day other than the first day cit s calendar month end the day ofcommencement of such obligations occurs during a month other than the calendar month during whklithe First Day of The Term occurs; the Term shall automaticeiiy be extended by the number of days during the period between tire FIrst Day of theTern, and the rat day of the calendar month next following the commencement of such obhgatkinrs and theTermination Date shall be deemed to have been amended accordingly, 3.04- LATE OPENING It. the event that the Tenant does not open for business when required by Section 3.02, The Minimum Rent shallbe deemed to be triple that stated In Section 1.01(g) (other then for purposes of calculating Percentage Rentprsuant to Sections 4.04, 4.06. and 406) on a per diem heels until era 1 enant nines in fact open for business,and the additional amount accruing to the Landlord shall be deemed to be Liquidated damages, and not apenalty. representing the damages which the Landlord shall be deemed to have suffered, including, withoutlimitation, damages as a result to the Landlords failure to rao&va Percentage Rent, all without prudice toenyother rights or remedies of the Landlord in such circumstances, if the Tenant fails to open the Premises for Landlord___________ 2 Tenant ___________ Law 447A Page 6/12 business within thirty (30) days of whan rcuired pu uant to Section 3.02. the Landlord may terminate th Lease without the necessity for any legal proceedings end 1thout prejudice to any other rights or remedies and to recover from the Tenant as Additional Rant on demand the cost of all work incurred by the Landlord pursuant to Schedule C &The Agreement to Lease, ARTICLE 4—RENT 4.01 -MINIMUM RENT The Tenant shell pay 10 the Landlord In arid for each Lease Year, Minimum Rent In the amotinL per annum Sat out In Section 1.01 (g){il} for the respective Lease Year, by equel consecutIve monthly instalments In the amount et out In Section 1.01 (gXIII) for such Lease Year, subject to any increase pursuant to Section 3.04 and the adjusintant provisions of Section 4.02. 4.02 - ADJUSTMENT OF MINIMUM RENT In the event that the Floor Area Is revised in accordance with Section 14.04, the MInimum Rent for each Lease Year shall be recslcuiate<l atjtomalically by multipl4n the revised Fk,or Ares by the amount per square foot sat out In Section 1.01 (gKl) far the respectIve Lease Year ,d the amount of the eqiml monthly tnstalments for audi Lease Year shell tie deemed to have been amended acoordingl Upon any such revision ci Fleet Area, the Landlord shall CaloLilata the Sniunt of the difference between the origInal Minimum Reid and the revised Mlnimum Rent for the period prior to the date of Such revision and, If such amount represents an inease hi Minimum Rent, the Tenant shell immediately pay the erriount to the Landlord, or ii sudi aneurit repraserits a deease In Minimum Rent, the Landlord straIT immedtely repay the amount t the Tenant, A comparable adtJatment in respect of any earlier paiI1ent of the Tenant’s Proportionate Share at Mditional Rent shall also ee made. 4.03 - PAYMENT OF MINIMUM RENT The Itrat monthly Instalment of Minimum Rent, or the appropriate portion thereat calculated in accordance with Section 4.07k shall be paid on or before the First Day <if the Term or such other day as may be required by Section 3.02 and subsequent instalments of Minimum Rant shall be paid strictly hi advance on the ltrst day of each end every succeeding month throughout t,e Term. The deposit set out in Section 1.01(j) is to be appiled as a security deposit throughout the term as described in Schedule H. 4.04 - PERCENTAGE RENT The Tenant shall pay to the Lendiord lit and for each Lease Year, Percentage Rent equal to the Sfficuflt by which Gross Sales for such Lease Year ntUriIpIIed by the rate set out In Section tOl(h) for audi Lease Yaw exceed the Mrnimum Renlforuc4i Lease Year, by monthly payments on account pursuant to Section 4,OSwtth an annual adjustment pursuant to SectIon 4,06. 4.05- PAYMENT OF PERCENTAGE RENT Within fifteen (15) <lays after the end of sad, month of the Term. the Tenant shall tijrnish the Landlord with a written statement, in audi farm as the Landlord may ttOtn time to time designate to the Tenant, signed and certified as correct by me Tenant or his duly cuUioried agent, setting out in alt reasonable deta the amount of the Gross Sales far the immediately p’ecedIng month, tge1*i9n with paysent of the amount, if any, by whIch Gross Sales for’ such month muIilUatt by the rate set out ui Section 1.01(h) for the applicable Lease Year exceed the Minimum Rent payable foreach month. 4,06- ANNUAL ADJUSTMENT OF PERCENTAGE RENT Within sixty (60) days after the end at each Lease Year. the Tenant shell ftnuilsh the Landlord with a written statement in such form as the Landloro may from time to dine designate to the Tanant, signed and verified by the Tenant and certified as correct by th, auditor of the Tenant (who shall bee chartered accountant or other licensed public accountant acceptable to the Landiord) setting out In eli reasonable detail, end in any event by months, the amount of Gross Sales for the whole of the preceding Lease Year. If the sregate amount of the Gross Sales for such Lease Year as reported monthly to the Landlord pursuant to Sedan 4.05 is less than Via annual amount set alit rn such audited stat nerd and If the result is a deficiency in Pementaga Rant due for such Lea*e Year pursuant to SectIon 4.04, the audited statement shall be accompanied by a payment to the Landlord equal to the amount Of audi deficiency. If the aggregate amount of the monthly payswnts on account of Percentage Rant paid by the Tenant during a Lease Year pursuant to Section 4.05 exceeds the Percentage Rant du for such Lease Year pursuant to Section 4.04, the Landlord shall refund to the Tenant the amount of such excess wIthout interest within thirty (30) days aRar the latter <if delivery of me audited statement <if Gross Sales or completion of any audit which has been commenced by the Landlord pursuant to Sedan 12.03 WithIn thrrty (30) days after delivery of sucn audited statement and which confirms such excess, provided that the Lardord may first deduct front such excess any rent whIch is then in arrears. 4.07 PRC RATA ADJUSTMENT OF RENT All rent shall be deemed to accrue from day to day, and if for any reason It SIt become necessary to calculate the rental for irregular’ periods of less then one year o.’cne n’ronth, as the case may be, an appropriate pro rats adfustment shall be made on a daily basis in odder to compute the rant for such irregular period. Landlord_____________ Tenaiit,. Law 447A Page 7/12 4.oa PAYMENT OP RENT GENERALLY P2J payments by the Tenant to the Landlord required or contemplated by this Lease shall be: a) paid to the Landlord by the Tenant in lawful currency of Canada; (b) made when due hsraunder, without pflor demand Lherefor and without any set-off, compensatIon o deduction whalsoaver, at the office of the Landlord at the Centre or audi other place as the Landlord may designate from time to time to the Thnant Ic) applied towards amounts then outstanding hereunder, In such manner as the Lan Word may see fl1 (d) deemed to be tent, Iri partial consideration for which this Lease has been enterad Into, and shall be payable and recoverable as rent, such that the Landlord shall have all rights end remedies against the Tenant for default in any such payment which may not be expressly said to be Rant or Additional Rent; (e subject to an overdue vhare if any such payment Is not made when due, which charge shaU be Additional Rent equal to Twenty Four lercent (24%) per annum of the Overdue amount calculated and compounded daily payable with the next monthly instalment of Minimum Rent. all without prejudice to any other right or remedy ci the Landlord; ( made by way 01 a series of cheques, poet-dated to [he respective due dates of such payments, which the Tenant shall supply to the Landlord at the commencement of each Lass Yaar or earlier should the Landlord so request, without ptejudic. to any other right or remedy of the Landlord; and {g) subject to an administration charge of One Hundred Dollars ($105.00) For any cheque of the Tenant’s returned to the Landlord because of non-sufficient funds or for any other reason ty any itrrancial Inslilutlori, payable by the Tenant to the Landlord as Mdibanai Rent on demand, 4.09- ARBITRATION In the event of any bone fide dispute arisIng between 12w Tenant end the Landlord as to Iris amount of wry Rent payable under this Lease which requires calculatIon. the Tenant shall nevertheless make payment ri accordance with any Noilce From the Landlord but the dispute at the option of 12w Landlord or, so long as such payment has been made, the Tenant, shall Immediately be referred to an arbItrator agreed upon by the Tenant and the Landlord or, in the avant that they cannot agree upon Suth arbitrator, then the question shall be referred to The arbitralion of one arbitrator under the Commercial kbltratloii Act, Statutes of British Columbia 196 0.55, Srid amendmarrts thereto or such other statute or statutes of like effect beirig fri force in British Columbia, and such arbitrator, whether agreed upon or appbintad under the said statute, shall have access to such records of the parties as may be reasonably nooessary and the decision of auch arbItrator shall be final and binding upon the parties. Cost of the arbitration shall follow the award, unless otherwise determined by the arbitrator. Any sdlustrnant in rent required to be made by reason or any such decision of the arbitrator shall be made within fifteen (15) days thereof. ARTiCLE 5 OFFW*1A1 RENT - INTENT OF LEASE This Lease shall be absolutely net to the Landlord such that the Tenant shall pay for its own account, and v1hout any vIaUon, set-cit or deduction, all costs. expanEae. rates, taxes and charges ri any way relating to the Premises and the business of the Tenant as wall as Ins Tenants Proportionate Share of all taxes, insurance premiums and other rates, costs, expenses anti charges relating to [lie operation of the Centre, other than the payment of any htareat or principal required to be paid by the Landlord under any mortgage related to the Centre, any income taxes paysble by the Landlord, the cost of structural repairs arid expenses of a capital nature in accordance with normal accounting practice. 5.02- STANDARD OF OPERA1ION The Landlord shall operate [ha Centre in a reasonable and prudent manner in accordance with recognlaed fr)du5tty standards for similar developments. 5.153 - ADDITIONAL RENT Withovt limiting the generality of Artrcle 5.01, the Tenant shall pay to the Landlord as Additional Rent (a) a ProportIonate Sitar, of Property Taxes attributable to the Centre, in accordance with Arfici 6; a Proportionate Share of Common Area Costs, lo accordance With Article 7’ (c) promotion contrlbullons, mt accordance with ArtIcle 9; (d) a Proportionate Share of Insurance premiums attributable to the Centre, in accordaricewith Article 10; and Landlord __________ Tnarrt _ _______ Law447A •Pge 1OJl2 SG4IDLLE-r —Peae 2 nrFn4rnoNs (8) RogrAtea,floor area m* th area, .xpmssed in qfiam feet oreuch other uM as the Landlord may d.tem., of eadi floor In each lnle1or renAe prisfre the Geflre, calculated by meeaunr from The extarlor faces of the extenor waI and of ah a4&nUig Ccatmn Areas from the centre line of party or dem tsIn waib sapwaling or n,o rantable ‘alias !nd from the lease bne septhg areas where no wall exists. alt WIthout deduction or excIuion for army space occupIed by or used for cduinns, sia ts, el.vatois. escalators or oU1erntericmr coestluctJon or equ,rnent or fur any storefront r.mr doo,way areas recessed from the lease rm% thccnFrmallon bE vdnch by the LsdIords arcNtect Is to be conclusive and when uSed Ir’ respect ofthe-Piáiiisëamthàeme cI.each floor In Uie Premises, cal culated as aforesaid, as set outln Section 1,01(e) ci as the same may have been ,efeed pwIrent to Section 4O$,Seclin ISacUori IW.. (8) Oron Leasabis of the Centxa or ati spd Pu, beedf, means the ag8ra9ate,. hum time to tine, of the Soar areas of all floors and n4aianfrias 4Jñless sud mear4ne lies bean constructed by a tenant and Is used e*ctusJvalij for ste?age) nd lnisrlór renteble premises In the Cèntte or In such specified po ftion, as the case maybe proi4dad that In the event any floor or menlfla dQes not dflct access lo the Mill at the same elevation oibyefl amilrance stairway, onFh1y Psrcent(%) of the floor area of such floor or meonine shall be included mh areata area and provided [itthsr that the øoor areas of any ero occupied tiy Mnclil or munl* euthonllea or agencies shd be excluded. 1Q) Gross Sales , ‘ means 11* total sum of the selRi8 puce, of all meitlwndlee, food, beverages or servloes. (iiducng llnanc. cherges therson sold lt1w Tanantoitir from hi. Premises, or by personnel uperetinQ *CIn ciaporting to or wider the supervision mp or agent of the T5nent athhe Premises and whether wholesale or retod and whether kit cash, partly cash cre gift certiftcatee merchandise certificates, andall otheriece4peatoarofaI business conited at, on, in, abat or from the Premises, or by persn.l oertingfrum Cr rUng to or uncut the supervilon of any employe, or agent of the Tenant atthaMwnsas, mcbd4ng all deiosats not refunded to the ptsthaser orders tilren at. on fri shout or from the Premises or br pwscmz*t opefathig from, or repomlaig to. cc under the sçervislon of any emplo)e. or ageriE the:’r.r at the Prrr$s (although such orders may be tilled aIsewfiare uJes made byanysenant. ceasloiielre o licensee on at i shout or from the Premises or by psrscmiie) cøeietløg hum the Prerns. or by reporting to or under the supervision of flY eniploysa or agent a eUbtessn. concesslonafre, or lic enSee vn at, In al)O14 or fniii the Premieea all race *orfl oplnoperatednchkves (inchng venin9 machinee mucliee prodkig servloes. or anti alnrñsnt and *mlir mei) an the Premises and oied or cpwated by the Tensat, and all ccmntlaslons, ilcense cm’ I$l5tfaSe reC by the TSnE,t 4th tespect Eu such machines on the Pfwtml*Se net o*Yuad or operated by the Tenant nduding public telB4ioris,) Each sale upon instalment shill bealeted ass 1 fII*ISI Instelment sale prIce at the time such sale be made Irrespacuv. of Uie lute whu payment (whether flal or partial) shell be received. Each lease of m.rditindbe sheS bekeeted sa li the month in which the Lease Itist conVacted for a price equal to the total amoolit of rent pa,able durrg the temi of such L,eeae. In The detisminabon ci Gices Sales there maybe dedudted tiiejmoai* of retunde upon meiclandIes sold on or fro m the Premises and reêxiied, end of sales taxes or other iaues (to the qxlent to Wth such ces or other taxes are inckrded lii Se racelpts obdedhum cusnere on account of sales on or from the Prenies or by pescni operating 1mm (s’ rmtiflg to or und$r the sr’pervbntn of a’iy employee or agent of the Tenant at th Premises or by a sobtane1 concssslocilre or licensee on, at in about or from the Premises drbyp.ueanflel operatinG 1mm tile Premises or repo to or undei the auparlslan of en emptoyas alasi4ant corwMs)cnav. orlicenuson, at, In, shout cc from the Premises and actually paki to taxing authorities. , means j3 Mi 4*. and Ito successors erideseigns (12) Lease ‘ insane this Lease as from Line to time amended in writing y th parSes Ileislo. Landlord________ Tnan*________ Law447A Pagell/12 SCHEDULE’B”— PaQS a DEFIMITIONS (13) Lease Year meart In the case of the rs,t Loase Year, the period beginning on the earlier of the Frsl Day of the Term set out in Section 1.01(f)(fl) or the day that the Tenants obligatiafle to open for business Snd to pay rent commence pursuant to Section 3.02 and terminating twelve (1 months from the last day of the month in which the later of the First Ctay cii the Term or the day or commencement of arich obligations occurs (except that If the Feat £ay of the Term occurs on the first da y of a month and the day of commencement of such obligations falls on either the same or any pri or day, the first Lease Year shall terminate err the day prior to the first anniversary of the First 0ay of the Temi) and, in thC case of each aubsequent Lease Yw, means eacn twelve (12) month period after the first Lease Year, the last of which shall terminate on either the later of the Termination Date set out in Section 1 .Ct(f)(iii), as extended puraverrt to Section 03, or, if applicable, the lanninalion date Cit tile last Renewal Temi set out in &heduie ‘F” hereto. (14) Major Tenants means those tenants of The Centre, and their respective successors end assigns as may be designated as Major Tenants by the Landlord from time to time, by gMrig writte n Notice of such designation to iris Tenant. (15) Minimum Rent means the rent set out in Section 1.01(g) end payable in accordance with Article 4. (16) Notice iicludes without limitation. requests, demands, designations, statements or other writings In this Lease required or permitted to be givn by the anoired to the Tenant or by the Tenant to the Landlord and ati originating notices of mellon, alfidar4ts and any other ancillary documents in supp ort of all legal proceedings. {17) Parking Areas means the paved portions of the Centre lands which have been and are to be allocated for the parking of motor vehicles, as frm time to lime altered, reconstructed or expanded, and irncudes entrances, roads and other means of acoess thereto arid any parking strrrctvres or other parking faltles from time to time constructed in the Centre The Landlord reserves the right to impose a fee for such parking provided that: (a) such practice becomes a common practice for shoppki centres in the Greater Vancouver area andlor is reasonat4y necessary to dscouraga non-customer parking at the Centr e; and (b) a tiCiket validation system is implemented by the Landlord whereby custo niens of the Tenant are grven the abIlity to have the Tenant validate their pking tickets thereby negating t he fee lot such parking. (16) Percentage Rent means the rent calculated pursuant to Section 4.04 arid payable in accordance with t he applicable provisions of Article 4. (19) Premises means that portion of the Centre referred to in Schedule “A” anti outlined in red thereon Inc luding cii iwasent and after-acquired frxtures constructed and instlIad therein. (20) Promotion Fund means the fund maintained by tne Landlord with respect to promotional advertisIng end pubv relations in connection with the Centre and to which the Tenant arid the Landlord shall con tribute, all in accordance with Article 9. Landlord ________ _______ Tenant_________________ Law 447A Page 12/12 SCHEDULE ‘E’— Paae 4 DEFJITION5 421) Property Taxes means all general. special, iol improvement, echool and water taxes, levies, rates and charges from time to time Imposec against immovable property by municipal or other vernmental authcxltles having jurisdiction, logaiher with the cost of citestlig or negotiating the same, bin wcclwiive of income taxes under Part I of the Income Tax Act of Canada as it existed January 1 1908, sales taxes, bLialnesa taxes, plane of bvslnress taxes, estate irthertlanca, succession, capital levy or frartfør tax Should It be found that due to Changes in the method of levying or collection at any tax, levy rate or charge to be imposed upon immovable property or should any new 1, lev rate or dlarge be levied cx imposed in lieu of or in aOchllon lb those contemplated by the above definition, the Landlord and the Tenant hereby agree to riegolfate an amendment or nv provision to this L.eaee as is necessary to deal with SuCh tax, levy, rate or cJiare, lii an equitable manner so as to obviate any injustice or tneily which shall have arisen and should the Landlord and the Tenant tall to agree an such amendment or new provision the same shall be settled by arbitration In accordance with Th Commercial Arbitration Act, Statutes of ritlsh Columbia 1956, c. 3, and amendments thereto or any Ilk. statute In effect From time to time. (22) Proportionate Share of. Tenant’s Proportionate Share means (a) In respect of each item or category of Additional lent, except for Property Taxes. relating to the Premises or arty or all other rental premises in the Centre, that proportion of the amount of Such item or category of Additional Rent wiulch the Floor Area of the Premises bears to the Gross Leasable Area of either the Centre or of the portion of the Centre includutg the Premises, to which item or category of Aedlilonal Rent relates, as the case may be, in any case excludirtg the Flcc’ Area of the Premises within the Centre occupied by the Major Tenants: (b) in respect of Property laxes levied in respect of the Centre or fairly attributable therein, that proportion ofthe amount of such Property Taxes which the Floor Area of the Premises bears to the Gross Leasable Area of either the Centre or of the portion of the Centre inoluding the Premises, to which such Property Thxes relate lncludirtg the Floor Area of Premises within the Centre occupied by the Mor1enants. (23) Relocated Premises means the premises within the Centre to which the Landlord may reque the Tenant to relocate pursuant to Nude 15. (24) Rent, rent means any mortise due or payable byth9 Tenant to the Land lord pursuant to this Lease, whether as Minimi.nrn Rent, Additional Rent, Percentage Rent or otherai&e. (25) Rules end Regulations means those tulss and regulations attached to this Lease as Schedule ‘C and all amendments and additions thereto made by the Landlord in accordance with this Lease, C26) Shopping Cantre, Centre means th ends desorrbed in and outlined in green on Schedule •A and alt buildIngs and mprcwemertts 1mm time to time erected thereon and their appurtenances. (27’) Tenant means the party or parties described lit Section 1,01(b) and the heirs, executors, administrators. successors and permitted assIgnees therecL (28) Term means that period of time sat cut in Section 1.01 (f)(l) arid as provided in Section 3.01. (29) Termination Date means the dale set out in Section 1 .01{f)(lli), as itt. same may be amended pwsuant to Section 3.03. Landlord Tenant ________ ______ END OP IXAMINAT1ON