Common use of Demised Term Clause in Contracts

Demised Term. 1.01 Landlord hereby leases to Tenant and Tenant hereby hires from Landlord the premises known as and located at 3▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇ (the “Demised Premises”). The Demised Premises shall include a building (the “Building”) to be constructed on the Land (as defined below), which Building shall comprise approximately 232,917 rentable square feet and is expected to be as substantially shown on the diagram attached hereto and made a part hereof as Exhibit “A”. The Building will be situated upon a plot of land (the “Land”) in the Town of North Hempstead, County of Nassau and State of New York. The Building and Land, together with the benefit of all easements and all fixtures, equipment, improvements, installations and appurtenances which at the commencement of or during the Term of this Lease are attached thereto (except items not deemed to be included therein and removable by Tenant as provided in Article 5 hereof), which space, fixtures, equipment, improvements, installations and appurtenances, are included in the Demised Premises. Landlord shall lease the Demised Premises to Tenant for a “Term” of SEVENTEEN (17) Lease Years (or until such Term shall sooner cease and expire or be extended as hereinafter provided), to commence on the Commencement Date, and to end at midnight on Expiration Date (the Commencement Date and Expiration Date being subject to the further provisions of this Lease). Promptly following the Commencement Date, the parties hereto shall enter into a supplemental certificate fixing the actual Commencement Date and the stated Expiration Date, certifying that any improvements required to be made by Landlord have been completed, subject to any latent defects, warranties or other obligations of Landlord as set forth in this Lease. 1.02 The terms defined in this Article shall, for all purposes of this Lease, and all agreements supplemental hereto, have the meanings specified herein and in the Basic Lease Information, unless the context required otherwise.

Demised Term. 1.01 Landlord hereby leases The "Demised Term" of this Lease and Tena▇▇'▇ ▇bligation to pay rental hereunder shall commence on the "Commencement Date" which shall be the earlier of (a) the day following the last day allowed to Tenant for completion of "Tenant's Alterations" as that term is hereinafter defined, or (b) the day which Tenant shall open the Demised Premises for business operations, and shall end ten (10) years from (I) the Commencement Date if the Commencement Date is the first day of a calendar month, or (II) the first day of the first calendar month following the commencement date if the Commencement Date is not the first day of a calendar month. Notwithstanding the foregoing provisions of this Section and except for any obligation Tenant to pay rental until such date as it shall initially become due, Landlord may enforce and Tenant agrees to be bound by the terms and conditions of this Lease from the date of execution hereof. Tenant hereby hires from agrees that if it fails to surrender the Demised Premises at the end of the Demised Term, or any renewal thereof, Tenant will be liable to Landlord the premises known as for any and located at 3▇▇▇ ▇all damages which Landlord shall suffer by reason thereof, and Tena▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇l indemnify landlord against all claims and demands made by any succeeding tenants against Landlord, ▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇ (the “Demised Premises”). The Demised Premises shall include a building (the “Building”) to be constructed on the Land (as defined below), which Building shall comprise approximately 232,917 rentable square feet and is expected to be as substantially shown on the diagram attached hereto and made a part hereof as Exhibit “A”. The Building will be situated founded upon a plot delay by Landlord in delivering possession of land (the “Land”) in the Town of North Hempstead, County of Nassau and State of New York. The Building and Land, together with the benefit of all easements and all fixtures, equipment, improvements, installations and appurtenances which at the commencement of or during the Term of this Lease are attached thereto (except items not deemed to be included therein and removable by Tenant as provided in Article 5 hereof), which space, fixtures, equipment, improvements, installations and appurtenances, are included in the Demised Premises. Landlord shall lease the Demised Premises to such succeeding tenant. For the period of six (6) months prior to the expiration of the Demised Term, Landlord shall with reasonable notice to Tenant for a “Term” of SEVENTEEN (17) Lease Years (or until such Term shall sooner cease and expire or be extended as hereinafter provided), have the right to commence display on the Commencement Date, exterior of the Demised Premises a "For Rent" sign and to end at midnight on Expiration Date (during such period Landlord may show the Commencement Date and Expiration Date being subject to the further provisions of this Lease). Promptly following the Commencement Date, the parties hereto shall enter into a supplemental certificate fixing the actual Commencement Date and the stated Expiration Date, certifying that any improvements required to be made by Landlord have been completed, subject to any latent defects, warranties or other obligations of Landlord as set forth in this Lease. 1.02 The terms defined in this Article shall, for all purposes of this Lease, Demised Premises and all agreements supplemental hereto, have the meanings specified herein and in the Basic Lease Information, unless the context required otherwiseparts thereof to prospective tenants during normal business hours.