Commencement Date definition
Examples of Commencement Date in a sentence
By: Name: Title: Date of Grant: [______] Number of Restricted Shares Granted: [______] Vesting Commencement Date: [______] Acknowledged and A▇▇▇▇▇ as of the date first written above: [PARTICIPANT NAME] Participant Signature The undersigned acquired shares of common stock (the “Shares”) of J▇▇▇ REALTY REIT, INC.
Prorated Base Monthly Rent shall be paid to Lessor within three (3) business days of the Base rent Commencement Date.
Unless this Lease has expired or has been sooner terminated, or an Event of Default has occurred and is continuing beyond all applicable notice and cure periods at the time any extension option is exercised, Lessee shall have the right and option (each, an “Extension Option”) to extend the term of the Properties as set forth in the Real Property Schedule of the applicable Commencement Date Memorandum (each, an “Extension Term”), pursuant to the terms and conditions of this Lease then in effect.
During the Lease Term, on the first Adjustment Date and on each Adjustment Date thereafter, the Base Annual Rent for a Property shall increase by an amount equal to the Rent Adjustment, such that the new Base Annual Rent shall equal percentage, as stipulated in the applicable Commencement Date Memorandum, of the Base Annual Rent in effect immediately prior to the Adjustment Date.
For the avoidance of doubt, if no site improvements are contemplated on the Property and ▇▇▇▇▇▇ is able to assume all obligations hereunder as of the Access Date (as stipulated on the applicable Commencement Date Memorandum), then the Base Rent Commencement Date shall be of even date therewith.