Final Commencement Date definition
Examples of Final Commencement Date in a sentence
The first (lst) Lease Year begins on the first Commencement Date to occur and ends on the last day of the twelfth full calendar month after the Final Commencement Date.
If the Final Commencement Date has not occurred by the Estimated Commencement Date, as extended by Tenant Delay (but not for Force Majeure), then, as Tenant’s sole remedy at law or equity (except as provided in Sections 3.01(c), below), Tenant shall receive a credit against Base Rent in an amount equal to Tenant’s Damages.
Substantial Completion and the Commencement Date shall be deemed to occur only with respect to the applicable Phase, and Base Rent and Additional Rent on account of Operating Expenses and Taxes shall be pro-rated based on the ratio of occupied floors to total floors (excluding mechanical floors and penthouses in each case) of the Premises to reflect Tenant’s partial occupancy of the Premises until such time as the Final Commencement Date occurs.
This agreement commences on the later of the ARC Funding Commencement Date and the date that this agreement is last signed by a Party, which must be on or before the ARC Final Commencement Date, and will end on the date on which all obligations under the Funding Agreement have been fulfilled unless otherwise terminated in accordance with this agreement.
It is acknowledged and agreed that from the ---------------- Initial Commencement Date to the Final Commencement Date (to the extent applicable), SEMA (or its successors or permitted assigns) shall act as the operator of the Project (the "Interim Operator") upon terms and conditions ---------------- (including with respect to fees) that are commercially reasonable and consistent with Prudent Utility Practice at the time with respect to generating facilities similar to the Project.
At the time of the execution of the Funding Offer, the Final Commencement Date is considered the latest possible Project Start Date.
In the event that Tenant uses any of the Additional Premises Amortized TI Allowance after the Final Commencement Date but before the TI Deadline, then Landlord will recalculate the blended Base Rent again as of the TI Deadline in accordance with the foregoing provisions and Tenant shall pay any underpayment of Base Rent on the TI True-Up Date for the period beginning on the Final Commencement Date and ending on the TI-True-Up Date in accordance with Sections 2.6.5 and 3.5.5 of this Amendment.
If the Administering Organisation wishes to defer the Project Start Date for up to six months beyond the Final Commencement Date, a written request justifying the requested deferral in terms of exceptional circumstances must be made to the ARC, through the Administering Organisation’s Research Office, by submitting a VFA request, prior to the Final Commencement Date.
Rent for the entire Premises shall commence on the Final Commencement Date.
The Existing Lease shall remain in full force and effect, on the terms set forth therein, until the Final Commencement Date.