Earlier Month definition

Earlier Month means the same month as the Later Month of the calendar year that is one year prior to the year of the applicable Later Month. By way of example only, since Lease Year 3 commences on January 1, 2008, and Lease Year 4 commences on January 1, 2009, the Later Month for the purpose of calculating the Annual Base Rent for Lease Year 4 will be November of 2008 and the Earlier Month will be November of 2007, and if the CPI published for the Earlier Month is 156 and the CPI published for the Later Month is 165, then the CPI increase would be 6 percent (165—156 = 9; 9 ÷ 156 = .057692; rounded up to .06, the equivalent of 6 percent). Annual Base Rent for the Third Floor Premises One shall be abated for the period from January 1, 2008 to May 31, 2008 and shall commence to be payable on June 1, 2008. Landlord shall provide Tenant with a leasehold improvement allowance for the Third Floor Premises One in an amount equal to $25.00 per rentable square foot (i.e., $392,000.00). If publication of the CPI is discontinued or its method of computation is changed, then Landlord and Tenant shall select another index measuring the purchasing power of the U.S. Dollar published by a governmental or academic entity to replace the CPI.
Sample 1
Earlier Month means the same month as the Later Month of the calendar year which is five years prior to the year of the applicable Later Month. If at any time during the Term, the CPI shall be discontinued, Lessor and Lessee shall mutually and reasonably agree to substitute a nationally recognized index calculating changes in consumer prices and to apply the same to determine the increase in that portion of the Basic Rent subject to increase hereunder. Lessor shall advise Lessee of the amount of the increase, if any, of the portion of the Basic Rent identified as “Current Net Rent Payment” hereunder no later than 45 days prior to the day on which the increase shall take effect.” The remaining portions of the text of Section 3.1 (i.e., commencing with the text of the non-indented paragraph beginning with “If the Commencement Date is not the first day of a month…” and continuing through the remainder of Section 3.1 are not deleted by this Amendment and shall remain in full force and effect.
Sample 1
Earlier Month means the same month as the Later Month of the calendar year that is five years prior to the year of the applicable Later Month. By way of example only, if the Commencement Date is June 1, 2001, then the Later Month for the purpose of calculating the first adjustment to the Basic Rent during the Term will be February of 2006 and the Earlier Month will be February of 2001 and if the CPI published for the Earlier Month is 156 and the CPI published for the Later Month is 165, then the CPI increase would be 8.7% (165 - 156 = 9; 9/156 = .057692; rounded up to .058, the equivalent of 5.8%, multiplied by 1.5, the equivalent of 8.7%), which would, in turn, mean that the Basic Rent per annum upon the commencement of the 61st full calendar month of the Term would be increased by $176,175 (8.7% < 10%; .087 x 2,025,000 = 176,175) to $2,201,175, payable in equal monthly installments of $183,431. If at any time during the Term, the CPI shall be discontinued, Landlord and Tenant shall mutually and reasonably agree to substitute nationally recognized index calculating changes in consumer prices and to apply the same to determine the increase, if any, in Basic Rent. Landlord shall advise Tenant of the amount of the increase, if any, in the Basic Rent hereunder no later than 45 days prior to the date on which the increase will take effect. If the Commencement Date is not on the first day of a month, the Basic Rent for the first month of the Lease Term shall be prorated accordingly. The proportionately reduced Basic Rent, if applicable, for any partial first month of the Lease Term shall be paid on the Commencement Date. Lessee agrees to wire federal or other immediately available funds in payment of the Basic Rent on the day each payment is due, or if such day is not a Business Day then on the Business Day prior to such date in such location as Lessor may designate, on each such date. The Basic Rent shall be paid absolutely net to Lessor, so that this Lease shall yield to Lessor the full amount of the installments of Basic Rent throughout the Term. If any portion of the Basic Rent is not paid on or before the date on which it is due, Lessee shall pay to Lessor on demand an amount equal interest at the Overdue Rate on such unpaid Basic Rent from the date due to the date of payment, plus any other fees or late charges assessed against Lessor by Lessor’s Assignee resulting therefrom.
Sample 1

Related to Earlier Month

  • Month means a calendar month.

  • Calendar Month means calendar month according to the Gregorian calendar.

  • A month means a month according to Gregorian calendar.

  • Anniversary Each anniversary of the Cut-off Date.

  • Applicable Anniversary of the Commencement Date means the fifth (5th) anniversary of the Commencement Date.

  • Operating Month for a Shipper or Transferor means any calendar month in which Carrier either transports Crude Petroleum or recognizes and records a change in ownership of Crude Petroleum for the account of such Party. For purposes hereof the calendar month shall be deemed to begin at 7:00 a.m. (Central Time) on the first day of such month.

  • Budget month means the calendar month from which nonfinancial and financial information is used to determine eligibility (see section (28) of this rule) and benefit level for the payment month (see section (50) of this rule).

  • Billing Month is defined in Section 9.1(b).

  • Monthly Date means the last Business Day of each calendar month.

  • Billing Commencement Date means the earlier of:

  • Period End Date The 15th day of each calendar month, with Adjustment. Fixed Rate: [ ]%. Fixed Rate Day Count Fraction: 30/360. Floating Amounts: Floating Rate Payer: [ ]. Floating Rate Payer Payment Dates: The 15th day of each calendar month commencing on [ ], subject to adjustment in accordance with the Following Business Day Convention.

  • Prior Month Receipt Period With respect to each Distribution Date, the calendar month preceding the month in which such Distribution Date occurs.

  • Reduction Date has the meaning set forth in Section 20.1B.

  • Commencement Date or Handover Date means the date on which the Licensed Space of first lot of stations as per Annexure 1 is handed over by DMRC to the Selected Bidder, in accordance with the terms of this agreement.

  • Start Date for Term Calculation Purposes Only: Regardless of actual award/effective date of Contract, for Agreement “term” calculation purposes only, the Agreement “start date” is the last day of the month that Award Notifications are anticipated as published in the Solicitation. Example: If the anticipated award date published in the Solicitation is August 27, 2020 but extended negotiations delay award until September 24, 2020 the end date of the resulting initial “two-year” term Agreement, (which is subject to an extension(s)) will still be August 31, 2022 in this example

  • Anniversary Year The one-year period beginning on the Closing Date and ending on the first anniversary thereof, and each subsequent one-year period beginning on the day after the end of the preceding Anniversary Year and ending on next succeeding anniversary of the Closing Date.

  • Quarterly Commencement Date means the 1st day of each of April, July, October and January in each year.

  • Interest Commencement Date means the Issue Date of the Notes or such other date as may be specified as the Interest Commencement Date in the relevant Final Terms;

  • Start-up Period means up to 7 Academy Financial Years and covers the period up to and including the first Academy Financial Year in which all age groups are present at the Academy (that is, all the pupil cohorts relevant to the age range of the Academy will have some pupils present).

  • the commencement date means the date on which the Contract shall take effect, as notified by the Authority to the Contractor in a letter awarding the Contract.

  • Commencement Date means the date fourteen (14) days after the date the Contract comes into effect or any other date named in the Contract Data.

  • Delivery Period Termination Date Has the meaning specified in the Related Pass Through Trust Supplement.

  • Payment Commencement Date means the date payments of amounts deferred begin pursuant to Article III, Section 6.

  • Lease Commencement Date has the meaning specified in Section 3.2 of the Master Lease.

  • Anniversary Date means each anniversary of the Closing Date.

  • Scheduled Completion Date shall be the date set forth in Clause 10.3;