Main Term Clause Samples

The "Main Term" clause defines the primary duration for which an agreement or contract remains in effect. Typically, it specifies the start and end dates of the contractual relationship, outlining the initial period during which both parties are bound by the contract's terms. For example, a Main Term might state that the agreement will last for one year from the date of signing. This clause is essential for establishing clear expectations regarding the length of the commitment and helps prevent disputes about when the parties' obligations begin and end.
Main Term. The term “Main Term” means the period beginning as of the Rent Commencement Date and, subject to the terms and conditions of this Lease, ending on the last day of the Fifteenth (15th) Rent Year.
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Main Term. Premises Portion #1 ---- Five (5) years (See ss.
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Main Term. During the first five (5) Lease Years, Tenant --------- shall pay annual Base Rent in the amount of Two Hundred Eighty Eight Thousand Seven Hundred and Eighty Two and No/100 Dollars ($288,782.00), payable in equal monthly installments of Twenty Four Thousand Sixty Five and 17/00 Dollars ($24,065.
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Main Term. The term of this Lease shall be approximately one hundred fifty-one (151) months (the “Main Term”), commencing on the date on which Hibbett opens for business (the “Commencement Date”) and ending on June 30, 2008, unless earlier terminated as provided below.
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Main Term. The Main Term of the Lease shall (i) commence on the Rent Commencement Date and (ii) end on the last day of the fifth (5th) full Lease Year.
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Main Term. The "Main Term" shall mean the period starting on the Rent Commencement Date and, subject to the other terms and conditions of this Lease, ending on the date set forth under Fundamental Lease Provisions. "Lease Year" means each successive twelve (12) month period during the Term commencing with the first day of the month in which the Rent Commencement Date occurs, except that the first Lease year shall mean the Main Term.
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Main Term. The “Main Term” shall mean the period starting on the date Landlord delivers possession of the Premises to Tenant in accordance with Section 2.05 and, subject to the other terms and conditions of this Lease, continuing for a period as set forth under Fundamental Lease Provisions. “Lease Year” means each successive twelve (12) month period during the Term commencing with the first day of the month following the month in which the Main Term started. The Main Term shall expire on the last day of the month in which the day which is ten (10) years and nine (9) months after the commencement date of the Main Term falls. “Partial Lease Year” means (a) the period between the first day of the Main Term, if that date is not the first day of a calendar month, and the last day before the beginning of the first full Lease Year; and (b) if the Main Term ends on other than the last day of a full Lease Year, the period beginning on the first day following the end of the final Full Lease Year of the Term and ending on the last day of the Main Term. “Lease Year” means either a full Lease Year or Partial Lease Year, as applicable.
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Main Term. 3.2.1 Years 1 - 4. The sum of $5.00 per square foot annually, or $400,000.00 per year, payable in equal monthly installments each in the sum of $33,333.33, hereinafter referred to as base rent, on the first day of each and every month in advance without notice. 3.2.2 Years 5 - 9. Base rent plus CPI increases.
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Related to Main Term

  • ▇▇▇▇▇ Period After payment of the first Dues, the Subscriber is entitled to a grace period of 30 days for the payment of any Dues due. During this grace period, the Agreement will remain in force. However, the Subscriber will be liable for payment of Dues accruing during the period the Agreement continues in force.

  • Basic Annual Rent (a) Subject to the provisions of this Section 2.1, Tenant agrees to pay during the Partial Lease Month and each Lease Year (defined below) of the term of this Lease as Basic Annual Rent ("BASIC ANNUAL RENT") for the Premises the sums shown for such periods in Item 4 of the Basic Lease Provisions (which shall be increased annually pursuant to Section 2.1(b)). For purposes of this Lease, a "LEASE YEAR" shall be each twelve (12) calendar month period commencing on (i) the Commencement Date (or an anniversary thereof) if the Commencement Date occurs on the first day of a month, or otherwise (ii) the first day of the calendar month following the Commencement Date (or an anniversary thereof). (b) Basic Annual Rent shall increase (but never decrease) once each year, as of the first day of the second Lease Year and as of the first day of each Lease Year thereafter (each an "ADJUSTMENT DATE") by an amount proportionate to the percentage increase, if any, in the CPI Index (defined below) between the calendar month prior to such Adjustment Date and the calendar month thirteen (13) months prior to such Adjustment Date; provided, however, that in no case shall any such increase be more than the Maximum Yearly CPI increase set forth in Item 5 of the Basic Lease Provisions or less than the Minimum Yearly CPI Increase set forth in Item 5 of the Basic Lease Provisions. "CPI INDEX" means the Consumer Price Index for All Urban Consumers, All Items (1982-84=100) for Los Angeles-Anaheim-Riverside, as published by the United States Department of Labor, Bureau of Labor Statistics. If the CPI Index is no longer published or for other mutually agreeable good faith reasons the consumer price index procedure set forth herein is not satisfactory, Landlord and Tenant, may adopt a substitute Index or procedure which reasonably reflects consumer price increases for the Lease Year(s) at issue.

  • Unbroken Vacation Period An Employee shall receive an unbroken period of vacation unless mutually agreed upon between the Employee and the Employer.

  • Basic Term Subject to earlier termination in accordance with subsection 6(b) below, the exercise period of this option shall expire ten (10) years after the date it is granted.

  • Agreement Term This Agreement commences on the Effective Date and continues until terminated in compliance with this Clause.