Commencement Date Clause Samples
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Commencement Date. (a) The Commencement Date of this Lease is the date set forth in the Schedule, and the parties agree that if the Premises Delivery Date does not occur on or before July 1, 2005 for any reason, then this Lease shall not be void or voidable by either party and Landlord shall not be liable to Tenant for any loss or damage resulting therefrom.
(i) The parties acknowledge and agree that if the Premises Delivery Date does not occur on or before July 1, 2005, Tenant may be subject to the holdover provisions of its current lease, and that Tenant may be required to pay to its current landlord holdover rent as well as certain penalties and damages. Accordingly, notwithstanding Section 1.1(a) above, if the Premises Delivery Date does not occur on or before September 1, 2005 (the "Premises Delivery Deadline"), then, for each calendar month after the Premises Delivery Deadline in which the Premises Delivery Date does not occur, Tenant shall be entitled to a credit against Base Rent payable hereunder equal to twice the Monthly Base Rent payable hereunder for the first Lease Year (i.e., Two Hundred Ninety-One Thousand Six Hundred Thirty Five and 40/100 Dollars ($291,635.40)); provided, however, that (A) if Landlord's delivery of a portion of the Premises would mitigate Tenant's obligation to pay holdover rent, penalties or damages to its current landlord and if Tenant determines, in its commercially reasonable discretion, to accept Landlord's delivery of a portion of the Premises, then, upon Tenant's taking possession of such portion of the Premises, the amount of the credit under this Section 1.1(a)(i) shall be proportionately reduced on the basis of the number of rentable square feet of the portion of the Premises delivered to Tenant in proportion to the total rentable square feet of the Premises; and (B) Tenant shall not be entitled to a credit under this Section 1.1(a)(i) if Tenant substantially completes the Tenant Improvement Work on or before January 1, 2006. Tenant shall exercise reasonable efforts to substantially complete the Tenant Improvement Work on or before January 1, 2006 using standard working methods without the payment of overtime; provided, however, that at Landlord's option, Landlord may require Tenant to pay for overtime, in which event Landlord shall reimburse Tenant for reasonable overtime expenses within thirty (30) days after Landlord's receipt of a reasonably detailed invoice therefor.
(ii) Notwithstanding the foregoing, if the Premises Deliver...
Commencement Date. The Subcontractor shall be permitted to begin the Services on ______________________, 20____ (“Commencement Date”).
Commencement Date. The term of this Lease shall commence on the date this Lease is executed (the "Commencement Date") and shall end ten (10) years from the date the payment of rent commences as set forth in Section 4.1 of this Lease, unless sooner terminated pursuant hereto (the "TERM"). Promptly following the Commencement Date, Landlord and Tenant shall confirm the Commencement Date and the expiration date by executing and delivering a Memorandum of Commencement Date ("MEMORANDUM") in the form attached hereto as Exhibit "B." This Lease shall not be void, voidable or subject to termination, nor shall Landlord be liable to Tenant for any loss or damage, resulting from Landlord's inability to deliver the Premises to Tenant on the date specified in Landlord's notice given pursuant to Section 3.2, but no rent hereunder shall be payable hereunder with respect to any delay in delivery of the Premises which is caused solely by Landlord. Provided Tenant has not been in default during the Term of the Lease, Landlord hereby grants Tenant the right to renew the Lease for one (1) additional five (5) year period, at the greater of the then current Basic Rent increased in accordance with this Lease or at the then current fair market lease rental rate for the Building as determined by the Landlord. In order to exercise its renewal option, Tenant shall give Landlord a minimum of six (6) months written notice prior to the end of the Term of its intention to renew this Lease.
Commencement Date. The effective date of an Interconnection Service Agreement shall be the date provided in Section 4.0 of the Interconnection Service Agreement. Interconnection Service under this Interconnection Service Agreement shall commence upon the satisfaction of the conditions precedent set forth in Section 1.2 below.
Commencement Date. 3.1 This Licence will commence on the 1st day of 20 . (“Commencement Date”)
Commencement Date. The “Commencement Date” for each of Premises A, Premises B and Premises C shall be the Scheduled Commencement Dates set forth in Section 1.1, Notwithstanding the foregoing, if Tenant’s personnel shall occupy all or any part of the Premises for the conduct of its business prior to the applicable Commencement Date as determined pursuant to the preceding sentence, such date of occupancy shall, for all purposes of this Lease, be the Commencement Date for Premises A, Premises B or Premises C as, applicable. Promptly upon the occurrence of the Premises B/C Commencement Date, landlord and Tenant shall execute and deliver a letter designating the commencement dates for Premises A, Premises B and Premises C substantially in the form attached hereto as Exhibit C, but the failure by either party to execute and deliver such a letter shall have no effect on the commencement dates, as hereinabove determined. Notwithstanding anything to the contrary contained herein, in the event Tenant is unable to obtain a building permit on or before July 15, 2006 for the Work (as defined in Exhibit E attached hereto) to be performed in Premises B and/or Premises C, and Tenant filed for such permit immediately following Landlord’s approval of the Working Drawings for such Work and exercised all reasonable and diligent efforts to obtain such permit, and as a result thereof the Work to be performed in Premises B and/or Premises C is not substantially completed prior to the Premises B/C Commencement Date specified in Section 1.1 above, then the Premises B/C Commencement Date shall be extended to the date that is the earliest of (i) the date on which such Work is substantially completed, (ii) the Premises B/C Commencement Date specified in Section 1.1 above plus the number of days in the period commencing on July 16, 2006 and ending on the date on which Tenant receives the building permit for such Work, and (iii) September 1, 2006.
Commencement Date. The date on which Interconnection Service commences in accordance with an Interconnection Service Agreement.
1.4 Commission:
Commencement Date. Upon the Effective Date, the terms and provisions hereof shall be fully binding on Landlord and Tenant prior to the occurrence of the Commencement Date. The Term of this Lease shall commence on the Commencement Date. Unless sooner terminated or extended as hereinafter provided, the Term shall end on the Expiration Date. If Landlord does not tender possession of the Premises to Tenant on or before the Delivery Date or any other particular date, for any reason whatsoever, Landlord shall not be liable for any damage thereby, this Lease shall not be void or voidable thereby, and the Term shall not commence until the Commencement Date. Notwithstanding the foregoing, the Commencement Date shall be extended by one day for each day delivery of the Premises is delayed past the Delivery Date. In addition, if the Delivery Date does not occur on or before November 1, 2006 then Tenant shall have the right to terminate this Lease effective upon delivery or written notice thereof to Landlord on or before December 1, 2006, provided further, however, that Tenant shall not be entitled to so terminate this Lease if the Delivery Date occurs subsequent to November 1, 2006 but prior to delivery of such notice by Tenant. Landlord shall be deemed to have tendered possession of the Premises to Tenant upon the giving of notice by Landlord to Tenant stating that the Premises are vacant, in the condition required by this Lease and available for Tenant’s occupancy. Except as otherwise provided herein, no failure to tender possession of the Premises to Tenant on or before the Delivery Date shall affect any other obligations of Tenant hereunder. There shall be no postponement of the Commencement Date for any delay in the tender of possession to Tenant which results from any Tenant Delay.
Commencement Date. The Subcontractor shall be permitted to begin the Services on
Commencement Date. The Commencement Date of this Lease shall be the first day of the Term determined in accordance with Paragraph 4.A.