Interim Lease definition
Examples of Interim Lease in a sentence
The rent for each item of Equipment during the Interim Lease Term shall be an amount equal to 1/30th of the Primary Rent (defined below) multiplied by the number of days from and including the Acceptance Date to the Commencement Date which amount shall be payable on the Commencement Date.
Except as provided herein, the Aircraft shall be leased hereunder for the Preliminary Lease Term, the Interim Lease Term, the Base Lease Term and each Renewal Term, if any.
Upon no less than sixty (60) days' prior written notice to the Lessor and the payment of an extension fee in the amount of one percent (1%) of the Principal Indebtedness, if the payment of same by Lessor is required under the Nomura Loan Agreement, the Lessee may extend the Interim Lease Term for a period not to exceed twelve (12) months, but in all events to the eleventh day of a calendar month.
The Security Deposit shall be returned to Tenant thirty (30) days following the date that Tenant has vacated the Interim Lease Premises, less any amounts that Landlord may reasonably retain as an off set to cover (i) any amounts due and owing Landlord under the Interim Lease; and (ii) any repairs or damages to the Interim Leased Premises occasioned by Tenant’s use of, or exiting from, the Interim Leased Premises.
Interim Lease Term shall mean that period of time commencing on July 1, 2009, and ending on the Commencement Date as defined in section 2.2 above.