Contraction Date definition

Contraction Date means the eighth (8th) anniversary of the Phase II Commencement Date.

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Contraction Date shall have the meaning given that term in Section 2.08.

Contraction Date has the meaning given in Section 1.03(a).

Examples of Contraction Date in a sentence

From and after the Contraction Date, and so long as Tenant has vacated same, Base Rent and Tenant's Proportionate Share shall be adjusted to reflect the rentable square feet that Tenant continues to occupy.
Landlord and Tenant will execute the amendment prior to the Contraction Date.
The Premises Contraction Fee must be delivered to Landlord by Tenant before or with the rent payment for the last full calendar month immediately preceding the Premises Contraction Date.
On or before the Contraction Date, Tenant shall vacate the Contraction Space, and surrender possession of the Contraction Space to Landlord and deliver the same to Landlord in a broom-clean condition.
If Tenant exercises its Contraction Right under this Section 3.05, the effective date of contraction shall be October 31, 2028 (the "Contraction Date") and Tenant shall surrender the Contraction Space to Landlord no later than the Contraction Date.
The amounts described in subsection (A) above shall be amortized on a straight line basis over 120 calendar months, beginning on the Commencement Date and shall include an interest factor of eight (8%) percent per annum for the time period from the Contraction Date to the Termination Date.
In the event that Tenant elects to contract the Premises as provided under this Section 3.05, Tenant shall pay Landlord fifty percent (50%) of the Contraction Fee (defined hereinafter) at the time the Contraction Notice is given to Landlord and the remaining fifty percent (50%) on or before that date which is thirty (30) days prior to the Contraction Date, time being of the essence in payment of the Contraction Fee.
If Tenant exercises its right under this Section 3.05, the “Contraction Date” shall be the day after the twelfth (12th) calendar month following Landlord's receipt of the Contraction Notice and Tenant shall surrender the Contraction Space to Landlord no later than the Contraction Date.
Effective on the Contraction Date, the Lease is terminated with respect to the Contraction Space, but the parties hereto hereby specifically acknowledge and confirm that the Lease shall remain in full force and effect with respect to the balance of the Premises, containing 4,460 square feet of rentable area.
If, however, it has been adjudged that the Actual Contraction Date failed to occur before either July 1, 1999 or July 1, 2001, as the case may be, solely due to the gross negligence of Landlord, then, notwithstanding the immediately preceding sentence, for each day during the period either July 1, 1999 through the Actual Contraction Date or July 1, 2001 through the Actual Contraction Date, as the case may be, Tenant shall pay 100%, not 200%, of the Adjusted Minimum Rent for said period.

More Definitions of Contraction Date

Contraction Date means the Original Lease Expiration Date.

Contraction Date means the date designated as such by Tenant in its Contraction Notice, provided such date is either the last day of the 36th, 72nd, or 108th full calendar month after the Fixed Rent Start Date. The “Contraction Premises” means, as designated by Tenant in its Contraction Notice, either all of Suite 1100 or a portion of Suite 1100 mutually agreed to by Landlord and Tenant. Notwithstanding the foregoing, if the Contraction Notice is silent as to the designation of the Contraction Premises, then Tenant shall be deemed to have designated all of Suite 1100 to be the Contraction Premises. If Tenant desires to exercise the Contraction Option, Tenant must give to Landlord irrevocable written notice of Tenant’s exercise of the Contraction Option (“Contraction Notice”), and pay Landlord the Contraction Payment (as defined below) as and when required below. The Contraction Notice and the Contraction Payment must be received by Landlord no later than the date that is 12 months prior to the Contraction Date (“Contraction Notice/Payment Due Date”), failing which the Contraction Option is deemed waived (provided Landlord reserves the right to waive in writing the requirement that Tenant fully and/or timely pay the Contraction Payment). The “Contraction Payment” means the sum of the unamortized (amortized on a straight-line basis with interest at 7% per annum) amount as of the Contraction Date of the following with respect to the Contraction Premises in connection with this Lease and any amendment to this Lease: (i) brokerage commissions paid by Landlord; and (ii) any and all allowances paid to Tenant, including without limitation the Improvement Allowance (as defined in Exhibit C). Tenant’s payment of the Contraction Payment is a condition precedent to the termination of this Lease with respect to the Contraction Premises on the Contraction Date, and such obligation survives the Expiration Date. Tenant acknowledges and agrees that the Contraction Payment is not a penalty and is fair and reasonable compensation to Landlord for the loss of expected rentals from Tenant. The Contraction Payment is payable only by wire transfer or cashier’s check. Notwithstanding anything to the contrary herein, if Tenant exercises the Contraction Option and the internal staircase between Suite 1000 and Suite 1100 is located within the Contraction Premises, then Tenant shall be solely responsible for removing such staircase at Tenant’s sole cost and expense by no later than the Contraction Dat...

Contraction Date. The later of (i) January 1, 2005 and (ii) the date that Lessee vacates and surrenders all of the Contraction Premises in accordance with the terms of the Lease.”

Contraction Date shall have the meaning set forth in Section 45.1 of this Lease.

Contraction Date means the date on which the Premises are expanded to contain the Additional Premises. Tenant shall pay all Rent due to and through the Contraction Date and shall surrender the Contraction Premises to Landlord on or before the Contraction Date in the manner and in the condition provided for in this Lease. Tenant’s failure to satisfy its obligation to vacate the Contraction Premises in accordance with this Exhibit H shall constitute an event of default and a holdover under this Lease, entitling Landlord to any and all remedies under this Lease, at law and/or in equity and to holdover rent pursuant to Paragraph 20(f).

Contraction Date shall have the meaning set forth in Section 31.25 hereof.