Fixed Term Commencement Date definition
Examples of Fixed Term Commencement Date in a sentence
Notwithstanding the foregoing, if the Fixed Term Commencement Date is a date other than the first of the month, Base Rent for the month in which the Fixed Term Commencement Date occurs shall be prorated and due on such Date.
The term of this Lease shall consist of: the "Fixed Term", which shall commence on February 20, 1998 (the "Fixed Term Commencement Date") and end on September 29, 2009 (the "Fixed Term Expiration Date"); provided, however that this Lease may be sooner terminated as hereinafter provided.
The parties hereto agree that upon substantial completion of all Improvements to the Leased Property, Landlord and Tenant agree at such time to execute an Addendum, setting forth Initial Fixed Term Commencement Date and the Annual Fixed Rent under subparagraph (ii) of the defined term thereof.
Lessee shall pay to Lessor a base rent (the "Base Rent") per annum which is equal to TWO HUNDRED TWO THOUSAND NINE HUNDRED NINETY FIVE DOLLARS AND 00/100 ($202,995.00), subject to adjustment as provided herein, and which is payable in advance in equal, consecutive monthly installments due on the first day of each calendar month, commencing on the Fixed Term Commencement Date.
Tenant shall maintain, at Tenant’s expense, during the Term hereof (and during the Construction Term if Tenant enters or accesses the Leased Property prior to the Initial Fixed Term Commencement Date) comprehensive automobile insurance covering all owned, non-owned and hired automobiles used in connection with the operation of the Leased Property (and each of them) and shall have minimum bodily injury and property damage limits of $1,000,000.00 combined single limit per occurrence.
Such early entry will be at Tenant’s sole risk and subject to all the terms and provisions of this Lease as though the Initial Fixed Term Commencement Date or the Phase II Completion Date had occurred, except for the payment of Rent, which will commence on the Initial Fixed Term Commencement Date and the Phase II Completion Date, respectively, and except that Tenant shall be responsible for all utility services required in connection with Tenant’s early entry rights.
Tenant shall pay Landlord base rent (“Base Rent”) in advance in consecutive monthly installments payable on the first day of each month during the Fixed Term and Renewal Term commencing on the Fixed Term Commencement Date.
Landlord will deliver the final Rent Schedule to Tenant no later than the Fixed Term Commencement Date.
The estimated Base Rent payable for the first Lease Year of the Fixed Term is as shown on the Rent Schedule, subject to [i] adjustment pursuant to §2.3.2 (if applicable); [ii] completion of the Rent Schedule with the actual date of the Fixed Term Commencement Date; and [iii] calculation of Landlord’s rate of return for the Fixed Term in accordance with the Term Sheet.
Landlord and Tenant agree that the Initial Fixed Term Commencement Date occurred on August 18, 2017.