How is Commercial Unit defined in a legal contract?
- Commercial Unit means a specific set of goods that, according to established commercial usage, functions as a singular entirety for leasing purposes, and that becomes significantly losing its characteristic or market value when divided. A commercial unit can be a singular item, such as a machine, a cluster of items, like a range of machinery or a batch of goods. The understanding of a commercial unit is determined by how it is used and perceived in the relevant market. Seen in 316 SEC filings.
- Commercial Unit means each independently owned or operated commercial space or structure, regardless of its specific identity. This includes commercial users not explicitly identified. Seen in 20 SEC filings.
- Commercial Unit means a building or structure utilized by an entity to conduct business transactions. Seen in 16 SEC filings.
- Commercial Unit means a building, office, suite, or room within a commercial or industrial building that is used by a single business and is leased or owned by that business entity or person. Seen in 15 SEC filings.
- Commercial Unit means a separate business that operates independently on or within commercial premises. Seen in 11 SEC filings.
- Commercial Unit means a specific set of goods that, according to established commercial usage, functions as a singular entirety for sale purposes. Division of this unit significantly diminishes its characteristic or value in its market or usage. The commercial unit can be a singular item (like a machine), a cluster of items (like a suite of furniture or an assortment of sizes), or a quantity (like a bale, gross, or carload). The understanding of a commercial unit is determined by how it is used and perceived in the relevant market. Seen in 11 SEC filings.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
Commercial Unit means a collection of goods or physical space used by a single entity for business purposes.
Relevant Contract Types
Relevant Circumstances
- Starting a retail business
- Purchasing bulk goods for resale
- Selling or leasing commercial real estate
Relevant Sectors
Genie Definition 2
Commercial Unit means a specific goods set that functions as a single entity for leasing or selling, impacting its market value when divided.
Relevant Contract Types
Relevant Circumstances
- Selling or leasing specific product sets
- Managing devaluation when separating product sets
Relevant Sectors
Genie Definition 3
Commercial Unit means a segment of a commercial premises operated independently by a separate business entity.
Relevant Contract Types
Relevant Circumstances
- Leasing a section of a shared commercial building
- Managing independent businesses in a shared commercial area
Relevant Sectors
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Commercial Unit means a collection of goods or physical space used by a single entity for business purposes
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