Lease Year 1 is a 12-month period, beginning with the Commencement Date and extending 12 calendar months thereafter. If the Commencement Date is not the first day of a calendar month, then Lease Year 1 shall be the period from the Commencement Date and extending 12 calendar months and the number of days required thereafter to reach the end of the calendar month in which the Commencement Date occurred, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.
Lease Year 1 means the period from the Commencement Date through (i) the last day of the month during which the first (1st) year anniversary of the Commencement Date occurs, or (ii) in the event that the Commencement Date occurs on the first (1st) day of the month, the day immediately preceding the first (1st) year anniversary of the Commencement Date, and each succeeding “Lease Year” shall mean each successive twelve (12) month period following Lease Year 1 through and including the Expiration Date.
Lease Year 1 means the period from the A.S. Commencement Date through (i) the last day of the month during which the first (1st) annual anniversary of the A.S. Commencement Date occurs, or (ii) in the event that the A.S. Commencement Date occurs on the first (1st) day of the month, the day immediately preceding the first (1st) annual anniversary of the A.S. Commencement Date, and each succeeding “Lease Year” shall mean each successive twelve (12) month period following Lease Year 1 through and including the Extended Term Expiration Date. Tenant shall pay Fixed Annual Rent (excluding electric) for the Additional Space (exclusive of electricity charges) from the A.S. Commencement Date though the Extended Term Expiration Date at the following rates:
Examples of Lease Year 1 in a sentence
In no event shall MAG be less than 100% of the MAG proposed for Lease Year 1.
We have found this to be useful at Dunchurch Juniors and we would like to benefit from this at Dunchurch Infants.
Rent for each subsequent year after Lease Year 1 shall be determined annually on the 31st day of December of each calendar year.
For purposes of interpreting the table above, Month 1 of Lease Year 1 shall be the first full calendar month after the Commencement Date.
Lease Year Minimum Monthly Rental Lease Year 1 (Months 1-12) (excluding the Stub Period) Additional Rent only.
More Definitions of Lease Year 1
Lease Year 1 means the period commencing on the Rent Commencement Date and ending on the day that is ten and one-half (10.5) months thereafter, and each successive “Lease Year” thereafter shall mean the 12-month period immediately following the previous Lease Year until the Expiration Date, except that “Lease Year 16” shall be one and one-half (1.5) months in duration.
Lease Year 1 means the period from the Commencement Date through (i) the last day of the third (3rd) calendar month following the month during which the first (1st) anniversary of the Commencement Date occurs, or (ii) in the event that the Commencement Date occurs on the first (1st) day of the month, the day immediately preceding the third (3rd) calendar month following the month which the anniversary of the Commencement Date occurs, and each succeeding “Lease Year” shall mean each successive twelve (12) month period following Lease Year 1 through and including the Expiration Date. Subtenant shall pay Fixed Annual Rent for the Subleased Premises (without electricity) at the following rates per annum:
Lease Year 1 with respect to Expansion Premises A shall mean the period beginning on the Expansion Premises A Rent Commencement Date and ending on the last day of Lease Year 1 with respect to Expansion Premises B, as provided below, and each succeeding Lease Year shall begin on the day following the last day of the prior Lease Year. ** Annualized
Lease Year 1 means the period commencing on the Rent Commencement Date and ending on the day that is ten and one-half (10.5) months thereafter, and each successive “Lease Year” thereafter shall mean the 12-month period immediately following the previous Lease Year until the Expiration Date, except that “Lease Year 16” shall be one and one-half (1.5) months in duration. Base Rent shall be pro-rated for any partial month during the Term (based on the number of days in such month). If the Rent Commencement Date is other than the first day of the month, then, with respect to the partial month following the Rent Commencement Date, Tenant shall pay to Landlord on or before the Rent Commencement Date a pro-rated share of the Base Rent that would have otherwise been payable for such month (based on the number of days in such month). If and to the extent Tenant elects to utilize any Supplemental Allowance in accordance with Section 2.02 of the Work Letter, then Tenant shall pay equal monthly installments of Supplemental Rent together with, and in the manner of, its monthly payments of Base Rent, subject to adjustment as set forth in the Work Letter if Tenant does not requisition the entire Supplemental Allowance.
Lease Year 1 means (i) the period from the Lease Commencement Date through the date immediately preceding the one (1) year anniversary of the Lease Commencement Date, if the Lease Commencement Date shall be the first day of a month or (ii) the period from the Lease Commencement Date through the last day of the month in which the one (1) year anniversary of the Lease Commencement Date shall occur, if the Lease Commencement Date shall not be the first day of a month. Thereafter, each successive twelve (12) month period during the term of this Lease shall also be referred to as a “Lease year”, except that in the event the Expiration Date shall occur prior to the completion of any such twelve (12) month period, such lesser period shall be deemed to be the final “Lease year” or “Lease year 7.
Lease Year 1 shall commence on the Commencement Date and end on the day immediately preceding the first anniversary of the Rent Commencement Date (provided that if the Rent Commencement Date does not occur on the first day of a calendar month, Lease Year 1 shall further include the balance of the calendar month in which such first anniversary occurs), and each subsequent Lease Year shall mean each successive period of twelve (12) calendar months following Lease Year 1. Security Deposit: $1,428,102.32 in the form of a Letter of Credit pursuant to Section 6.