Definition of Lease Year. The term “Lease Year” shall mean a period of twelve (12) full consecutive calendar months. The first Lease year shall commence as of the Commencement Date. Each subsequent Lease Year shall commence on the anniversary of the commencement date of the first Lease Year.
Definition of Lease Year. The first lease year is the period beginning on the Commencement Date and ending one (1) year after the last day of the month preceding the month in which the Commencement Date occurs. The second lease year shall begin on the day after the end of the first lease year, and shall end one (1) year after the end of the first lease year. The third and subsequent lease years shall begin and end on the appropriate anniversary dates of the beginning and ending dates of the second lease year.
Definition of Lease Year. Lease Year" shall mean the consecutive twelve (12) month period following the Commencement Date or, if the Commencement Date is other than the first day of a calendar month, then the first Lease Year shall be extended to include the initial incremental number of days up to the Commencement Date (for which Tenant shall pay the pro rata portion of Fixed Rent for said incremental month with its first installment of Fixed Rent).
Definition of Lease Year. “Lease Year” shall include twelve (12) full calendar months of Rental Term.
Definition of Lease Year. The first lease year ("Lease Year") shall be considered to begin on the Commencement Date, and each subsequent Lease Year if any shall be considered to begin on the applicable anniversary date of the Commencement Date.
Definition of Lease Year. The term "Lease Year" as used in this Lease shall refer to a 52 week year ending on January 31 of each calendar year. The period from the Commencement Date (if other than February 1) to the following January 31, and, if this Lease shall expire or be terminated on a date which is other than the last day of Tenant's then fiscal year, the period beginning at the end of the last preceding Lease Year and ending on the date of such expiration or termination, shall be considered a partial Lease Year. Upon any change in Tenant's fiscal year, at the option of Tenant, exercisable by notice given to Landlord at any time (but no more often then once in a twelve (12) month period), the term "Lease Year" shall mean the new fiscal year of Tenant, then observed by Tenant in the conduct of its business and used by Tenant for federal income tax purposes. In the event the Lease Year is so changed, the period from the last preceding Lease Year to the commencement of the new fiscal year of Tenant shall be considered a separate partial Lease Year. Notice of any change in the Lease Year shall be given by Tenant to Landlord not less than 30 days prior to the effective date of such change. For any partial Lease Year, the Gross Sales Break Points referred to in Section 7.2 hereof shall be reduced to that portion of the Gross Sales Break Points which the number of days in such partial Lease Year bears to 365 and the "Gross Sales" attributable to such partial Lease Year and used in calculating percentage rent due under Section 7.2 shall be equal to the product of the actual Gross Sales for the 12 month period ending on the last day of such partial Lease Year multiplied by a fraction, the numerator of which is the number of days in such partial Lease Year and the denominator of which is 365; PROVIDED, HOWEVER, that if the first or last Lease Year shall be less than twelve (1.2) full calendar months, then (a) for the purpose of computing percentage rent for the first Lease Year (i) the Gross Sales made in the first Lease Year shall be added to the Gross Sales for such number of days (including Sundays and holidays) following the first Lease Year as shall make up 365 days in total, (ii) the aggregate Gross Sales for such 365 day period shall be divided by 365 to determine the average daily Gross Sales and (iii) such average daily Gross Sales shall be multiplied by the actual number of days in the first Lease Year to determine adjusted Gross Sales for the first Lease Year and (b) for the...
Definition of Lease Year. The term “
Definition of Lease Year. “Lease Year” shall mean, in the case of the first Lease Year, the twelve (12) full calendar months plus the partial month, if any, following the Commencement Date. Thereafter, “Lease Year” shall mean each successive twelve calendar month period following the expiration of the first Lease Year, except that in the event of the termination of this Lease on any day other than the last day of a Lease Year, then the last Lease Year shall be the period from the end of the preceding Lease Year to such date of termination.
Definition of Lease Year. The first Lease Year will begin on the Lease Commencement Date and extend to June 30, 2012. The second Lease Year will begin July 1, 2012 and extend to June 30, 2013. Each subsequent Lease Year will begin on July 1st and extend to the following June 30th.
