Commencing on the Commencement Date Clause Examples
The 'Commencing on the Commencement Date' clause establishes the specific date when the obligations, rights, or terms outlined in the agreement become effective. In practice, this means that all parties are bound by the contract's provisions starting from the agreed-upon commencement date, regardless of when the contract was signed. This clause ensures clarity and prevents disputes by clearly defining when the contractual relationship and its associated responsibilities officially begin.
POPULAR SAMPLE Copied 1 times
Commencing on the Commencement Date. Tenant shall, and ---- hereby covenants and agrees to, pay to Landlord during each Lease Year of the Term an annual base rental. ("Base Rent") as set forth on Exhibit "C" attached ----------- hereto and made a party hereof. The term "Lease Year" is hereby defined as each successive twelve consecutive month period beginning on the Commencement Date. The annual Bases Rent shall be paid by Tenant in lawful money of the United States in equal consecutive monthly installments on or before the first day of each calendar month in advance. Base Rent for any partial month shall be prorated at the rate of 1/30th of the monthly Base Rent per day. Tenant shall pay to Landlord as additional rent ("Additional Rent") hereunder all charges and other amounts required to be paid by Tenant to Landlord under this Lease, whether or not designated herein as rent or additional rent. The term "Rent" is hereby defined as Base Rent and Additional Rent. All Rent shall be paid by Tenant to Landlord, without any deduction, setoff or counterclaim whatsoever, at Landlord's address set forth at Section 28(b) hereof.
Commencing on the Commencement Date. Tenant shall pay the Fixed Rent and Additional Charges promptly when due without notice or demand therefor and without any abatement, deduction or setoff for any reason whatsoever, except as may be expressly provided in this lease.
Commencing on the Commencement Date. Tenant shall, during the Term of this Lease, maintain in full force and effect policies of commercial general liability insurance (including premises, operation, bodily injury, personal injury, death, independent contractors, products and completed operations, broad form contractual liability and broad form property damage coverage), in a combined single limit amount of not less than Two Million Dollars ($2,000,000), per occurrence (exclusive of defense costs), against all claims, demands or actions with respect to damage, injury or death made by or on behalf of any person or entity, arising from or relating to the conduct and operation of Tenant's business in, on, or about the Premises (which shall Include Tenant's signs, if any), or arising from or related to any act or omission of Tenant or of Tenant's principals, officers, agents, contractors, servants, employees, licensees and invitees. Whenever, in Landlord's reasonable judgment, good business practice and changing conditions indicate a need for additional amounts or different types of insurance coverage, Tenant shall, within ten (10) days after Landlord's request, obtain such insurance coverage, at Tenant's sole cost and expense.
Commencing on the Commencement Date. Tenant shall pay to Landlord, as hereinafter provided, Tenant's Fraction of the Operating Expenses. Tenant's Fraction of the Operating Expenses shall be the Operating Expenses for the period in question, multiplied by Tenant's Fraction. Landlord shall estimate Tenant's annual Fraction of the Operating Expenses (which estimate may be reasonably changed by Landlord from time to time), and Tenant shall pay to Landlord 1/12th of the amount so estimated on the first day of each month in advance. If at any time Landlord changes its estimate of Tenant's Fraction of the Operating Expenses for the then current Calendar Year or partial Calendar Year, Landlord shall give notice to Tenant of such change and within ten (10) days after such notice Landlord and Tenant shall adjust for any overpayment or underpayment during the prior months of the then current Calendar Year or partial Calendar Year. After the end of each Calendar Year, including any partial Calendar Year at the beginning of the Term, and after the end of the Term, Landlord shall submit to Tenant a statement in reasonable detail stating Tenant's Fraction of the Operating Expenses for such Calendar Year, or partial Calendar Year in the event the Term shall begin on a date other than a January 1st and/or end on a date other than a December 31st, as the case may be, and stating the Operating Expenses for the period in question and the figures used for computing Tenant's Fraction, and if Tenant's Fraction so stated for such period is more or less than the amount paid for such period, Tenant shall pay to Landlord the deficiency within ten (10) days after submission of such statement, or Landlord shall, at its sole election, either refund to Tenant the excess or apply same to future installments of Operating Expenses due hereunder. All computations shall be made in accordance with generally accepted accounting principles.
Commencing on the Commencement Date. Tenant shall pay to Landlord rent at an annual rate equal to the Annual Base Rent, without any offset or reduction, which rent shall be paid in equal installments of 1/12th of the Annual Base Rent, in advance on the first day of each calendar month included in the Term, but for any portion of a calendar month at the beginning or end of the Term, the monthly 18 installment shall be prorated based on the number of days in such calendar month falling within the Term.
Commencing on the Commencement Date. Tenant shall pay to Landlord rent at an annual rate equal to the Annual Base Rent, without any offset or reduction, which rent shall be paid in equal installments of 1/12th of the Annual Base Rent, in advance on the first day of each calendar month included in the Term, but for any portion of a calendar month at the beginning or end of the Term, the monthly installment shall be prorated based on the number of days in such calendar month falling within the Term. Notwithstanding any contrary provision of this Lease, Tenant shall be required to pay with respect to the month of July 1995 and July 1996 installments of Annual Base Rent equal to one-half of the monthly installment otherwise payable (i.e., $20,317.92 for July 1995 and $24,204.38 for July 1996, instead of $40,635.83 and $48,408.75, respectively).
Commencing on the Commencement Date and continuing for each succeeding calendar year or partial calendar year during the term of this Lease, Tenant shall pay to Landlord, in addition to the Base Rent, an annual amount equal to the Gross Gaming Win in excess of One Hundred Million Dollars ($100,000,000) multiplied by one and one-half percent (1 1/2%) (the "ADDITIONAL RENT").
Commencing on the Commencement Date. Tenant shall pay directly to the pertinent utility provider when due, without demand, offset or deduction, as additional rent during the Lease Term, all charges for utilities furnished to or for the use or benefit of Tenant or the Premises. Except to the extent of Landlord's negligence (unless waived pursuant to SECTION 15.C. herein), Landlord shall not be liable for damages or otherwise, and Tenant shall have no right of demand, offset, abatement or deduction, if any utility provider's service to the Premises is interrupted or impaired by weather, fire, accident, riot, strike, act of God, the making of necessary repairs or improvements, or any other causes beyond the reasonable control of Landlord. If any public authorities require a reduction in energy consumption in the use or operation of the Building or Project, Tenant agrees to conform to such requirements.
Commencing on the Commencement Date. Tenant shall pay to Landlord Base Rent for each Lease Year at the rate specified in the Lease Summary.
Commencing on the Commencement Date. Tenant shall pay to Landlord, as additional rent, Tenant's Projected Share of Taxes. Upon each date that a Tax Payment or an installment on account thereof shall be due from Tenant pursuant to the terms of Section 5.02 hereof, Landlord shall apply the aggregate of the installments of Tenant's Projected Share of Taxes then on account with Landlord against the Tax Payment or installment thereof then due from Tenant. In the event that such aggregate amount shall be insufficient to discharge such Tax Payment or installment, Landlord shall so notify Tenant in a demand served upon Tenant pursuant to the terms of Section 5.02, and the amount of Tenant's payment obligation with respect to such Tax Payment or installment pursuant to Section 5.02 shall be equal to the amount of the insufficiency. If, however, such aggregate amount shall be greater than the Tax Payment or installment, Landlord shall forthwith either (a) pay the amount of excess directly to Tenant concurrently with the notice or (b) permit Tenant to credit the amount of such excess against the next payment of Tenant's Projected Share of Taxes due hereunder and, if the credit of such payment is not sufficient to liquidate the entire amount of such excess, Landlord shall then pay the amount of any difference to Tenant.