Restricted use Definition: 115 Samples | Law Insider (2024)

Restricted use

means the operation of a store whose primary business is thesale of bulk candy (has more than 10% of its floor area dedicated to bulk candy sales). "CompetingBusiness" shall mean a business not affiliated with Tenant which uses its premises in the ShoppingCenter for the Restricted Use, specifically excluding:(a) any business occupying its premises directly or (as an assignee, sublessee, licensee orconcessionaire) indirectly under a lease that was executed prior to the execution of this Lease but isin effect as of the date of this Lease (a "Prior Lease"), a renewal or extension of a Prior Lease, or anew lease that is executed by a business which leased or occupied premises in the Shopping Centerdirectly or indirectly under a Prior Lease except that Landlord shall not amend any such lease orotherwise allow any such tenant or occupant to violate these rights if any such tenant or occupantdoes not otherwise have the right to do so currently in the Prior Lease;(b) any anchor or variety and specialty store, theatre, drug or grocery store or any portion of theShopping Center not controlled by Landlord;(c) any business which incidentally engages in the Restricted Use (i.e., less than 10% of its floor areais dedicated to bulk candy sales);(d) any tenant or occupant operates in violation of the terms hereof and in violation of the terms ofsuch tenant's or occupant's lease or occupancy agreement (a "Rogue Tenant"), then Landlord shallnot be in breach of its covenants so long as Landlord shall use commercially reasonable, good faithefforts to cause such Rogue Tenant to cease such operations; provided, however, if such RogueTenant has not ceased such operations within sixty (60) days after the date Tenant provides writtennotice to Landlord of such violating operation ("Rogue Tenant Cure Period"), then Tenant shall havethe same rights as provided above to thereafter pay Reduced Rent and to terminate this Lease;provided, however, Landlord shall not be required to reimburse Tenant for the unamortized amountof Tenant's leasehold improvements; and(e) any chocolatier (such as Godiva, Rocky Mountain, etc.).This Reference Provision 1.28 shall automatically become null and void if:(a) Tenant is in default under this Lease beyond any applicable notice and cure period and as a resultthereof, this Lease is terminated;(b) Tenant assigns its rights under this Lease in whole or in part or sublets all or any portion of theLeased Premises to any assignee or subtenant that requires the ...

Restricted use Definition: 115 Samples | Law Insider (2024)

FAQs

What is a restricted territory law insider? ›

“Restricted Territory” means any geographic area in which the Company does business or is actively planning to do business at the time the Executive's employment terminates or at any time during the two (2) year period immediately prior to such termination.

What is an example of territorial restrictions? ›

Territorial Restrictions

A territorial restriction establishes an exclusive selling territory for an authorized wholesaler or retail distributor. For example, beer distributorships routinely come with an exclusive selling territory. Like RPM, vertical market division is designed to limit intrabrand price competition.

What are territory restrictions? ›

The sales territory restriction clauses are clauses restricting the geographic area within which, or the customers to whom, a reseller can resell the company's product. Such clauses may be included in a company's contracts with its resale customers (i.e. distributors, dealers and retailers).

What does territory mean in a contract? ›

A territory clause will define where in the world the rights are being licensed for. This could go hand in hand with the exclusivity mentioned above; for instance, there could be an exclusive license in the U.S., but throughout the rest of the world it could be made non-exclusive.

What does worldwide territory mean? ›

Worldwide Territory means all countries of the world except China (“China” includes PRC, Hong Kong, Macau and Taiwan). · “ EU Territory” shall mean the countries of the European Union. · “

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