The Lease Term Clause Examples
The Lease Term clause defines the specific duration for which the lease agreement is valid, establishing the start and end dates of the tenant's right to occupy the property. This clause typically outlines whether the lease is for a fixed period, such as one year, or on a month-to-month basis, and may include provisions for renewal or extension. By clearly stating the timeframe of the lease, this clause ensures both parties understand their obligations and helps prevent disputes over occupancy periods.
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The Lease Term. 13.1 The Lease Term is as set out in subsection 1.32 above.
13.2 The Lessee shall have the option of extending the Lease Term by an additional three Lease Terms of 36 months each (hereinabove and hereinbelow: “the Additional Lease Term”). The option granted to the Lessee for extending the Lease Term may be realized after 72 months of the Lease, 108 months of the Lease and 144 months of the Lease, respectively (hereinabove and hereinbelow: “the Realization Date”), and subject to the following conditions precedent being met, in the aggregate:
13.1.1 The Lessor received from the Lessee prior written notice by way of registered mail no later than six months before the Realization Date that it intends to extend the Lease Term (hereinabove and hereinbelow: “the Realization Notice Date”).
13.1.2 The Lessee has wholly fulfilled all its undertakings under this Agreement at their appointed time.
The Lease Term the length of the lease agreement (clause 5) is either for a first period of less than 24 (twenty-four) months or for a first period of more than 24 (twenty-four) months. If you agree to a lease period of more than 24 (twenty-four) months, the financial benefit to the tenant as a result of signing on for a longer period must be recorded. The financial benefit, the start date and the end date is in 1.22 - 1.25 of the schedule.
The Lease Term. 3.1 The Leased Item shall be transferred to the Lessee for the period specified in the relevant Agreement (the Lease Term). The Lease Term for each Agreement shall be calculated starting from the corresponding Lease Term Start Date.
3.2 At the end of the Lease Term under the Agreement, no later than the last day of such Lease Term, the Lessee shall return the relevant Leased Item to the Lessor in accordance with the procedure provided for in clause 11 of these General Terms and Conditions and shall pay the Lessor all the amounts provided for in clause 11 of these General Terms and Conditions (except for cases when the Lessee and the Lessor conclude a purchase and sale agreement for the specified Leased Item in accordance with clause 5.4 of these General Terms and Conditions), and also in any case shall make all other Lessee’s Payments to the Lessor provided for in these General Terms and Conditions and/or the relevant Agreement, including (without limitation) the amount of the Lessee’s debt for previous Lease Periods under such an Agreement.
3.3 At the end of the relevant Lease Term and after the Lessee fulfills its obligations provided for in clause 3.2 of these General Terms and Conditions, the relevant Agreement shall be terminated.
The Lease Term. Landlord shall use commercially reasonable efforts to relet and rent the Premises with or without advertising for the remainder of the Lease Term, or for such longer or shorter period as Landlord shall deem advisable. In lieu of the amounts recoverable by Landlord pursuant to the two immediately preceding paragraphs, but in addition to other remedies and amounts otherwise recoverable by Landlord in this Lease, Landlord may, in its sole election, (i) terminate this Lease, (ii) collect all Rent, Additional Rent, and other sums due and owing by Tenant up to the date of termination, and (iii) collect, as liquidated damages, an amount equal to (a) the present value (as of the date of termination) of the Rent and Additional Rent which would have been paid by Tenant for the remaining balance of the Lease Term (if this Lease were not terminated), minus (b) the present value (as of the date of termination) of the net revenue stream (e.g., after deducting reasonable allowances for periods of vacancy and anticipated legal fees, brokerage commissions, tenant improvement allowances and other concessions required to relet the Premises) Landlord reasonably expects to receive over the remainder of the Lease Term (if this Lease were not terminated) as a result of the reletting of the Premises. For purposes of determining present value under the foregoing clause (iii), the indicated amounts shall be discounted to present value using an interest rate equal to five percent (5.0%) per annum. In no event shall Landlord be liable for, nor shall Tenant's obligations hereunder be diminished by reason of, any failure by Landlord to relet all or any portion of the Premises or to collect any rent due upon such reletting, nor shall Tenant be entitled to share in, or to any off-set against its liability under the foregoing clause (iii), any proceeds from any reletting of the Premises. Tenant further acknowledges and agrees that no election by Landlord to seek liquidated damages pursuant to this paragraph shall relieve Tenant of any liability for damages for any failure by Tenant to surrender the Premises to Landlord in accordance with the terms hereof.
(C) TENANT, ON ITS OWN BEHALF AND ON BEHALF OF ALL PERSONS CLAIMING THROUGH OR UNDER TENANT, INCLUDING ALL CREDITORS, DOES HEREBY SPECIFICALLY WAIVE AND SURRENDER ANY AND ALL RIGHTS AND PRIVILEGES, SO FAR AS IS PERMITTED BY LAW, WHICH TENANT AND ALL SUCH PERSONS MIGHT OTHERWISE HAVE UNDER ANY PRESENT OR FUTURE LAW (1) TO THE SERVICE OF A...
The Lease Term. The lease term for the Parking Spaces shall be from Handover to […] (the Lease Term), after which the lease of the Parking Spaces shall lapse without any need for a notice of termination. The lease cannot be terminated during the Lease Term. [Alternative regulation]
The Lease Term. If a transfer to a Permitted Transferee occurs after the fifth year of the term of the Lease, Health Management Systems, Inc. shall be released upon the Permitted Transferee's assumption of the Tenant's
The Lease Term and Tenant's obligation to pay rent hereunder shall commence on the Lease Commencement Date. If the Lease Commencement Date is not the first day of a month, then the Lease Term shall be the period set forth above Plus the partial month in which the I-ease Commencement Date occurs. The date on which the Lease Term expires shall be the Lease Expiration Date. Each twelve (12) month period during the Lease Term, initially beginning on the Lease Commencement Date, shall be a Lease Year.
The Lease Term. In the case of the filing of any such lien, Tenant will promptly pay or otherwise discharge the same. If default in payment or discharge thereof shall continue for twenty (20) days after notice thereto from Landlord to Tenant, Landlord shall have the right at Landlord's option of paying the same without inquiry as to the validity thereof, and any amounts so paid, including expenses and interest, shall be so much Additional Rent hereunder due from Tenant to Landlord and shall be repaid to Landlord immediately on demand.
The Lease Term. 2.1 The Lease Term of the Unit is hereby determined for period commencing from the date of the end of the Works as stated in Section 3 below and up until 31.12.2008 (Hereinafter: “The Lease Term”). Notwithstanding the above said, the Lease Term for the parking shall commence already a the signing date of this Contract.
2.2 The Lessee shall not be entitled to terminate the lease under this contract before the end of the Lease Term. If the Lessee stops using the Unit and/or if it vacates the Unit before the end of the Lease Term, such shall not release the Lessee from the fulfillment of its obligations under this Contract, including its obligation to pay Rental Payments to the Contractor up until the end of the Lease Term.
2.3 At the end of the Lease Term, or upon the legal cancellation of this Contract, the Lessee undertakes to vacate the Unit and to return possession thereof to the Contractor with the Unit being clean, tidy and in a fit state and free of any person and object belonging to the Lessee. The provisions of this section are fundamental provisions of the Contract and the breach thereof, or the breach of anyone of the provisions shall be considered as a fundamental breach of the Contract.
The Lease Term. 6.1 The Lease Term is hereby determined for the period commencing from the date of the signing of this contract and up until 31.7.2005 (hereinafter: “The Lease Term”).
6.2 The Lessee shall not be entitled to terminate the lease under this contract before the end of the Lease Term. If the Lessee stops using the Property and/or if it vacates the Property before the end of the Lease Term, such shall not release the Lessee from the fulfillment of its obligations under this Contract, including its obligation to pay Rental Payments to the Contractor up until the end of the Lease Term.
6.3 At the end of the Lease Term, or upon the legal cancellation of this Contract, the Lessee undertakes to vacate the Property and to return possession thereof to the Contractor with the Property being clean, tidy and in a fit state and free of any person and object belonging to the Lessee. The provisions of this section are fundamental provisions of the Contract and the breach thereof, or the breach of anyone of the provisions shall be considered as a fundamental breach of the Contract.