Examples of Lease Years in a sentence
Failure to pay the First Lease Year's Rent at the time of lease execution will result in the cancellation of the lease and forfeiture of all money paid.Following the First Lease Year, a Lease Year will be March 1st – February 28th and Rent for the Lease Year will be payable annually, in advance, on or before the first day of March.
The Rental Rate for all succeeding Lease Years, including any option terms, shall be annually adjusted by the Lessee in accordance with the CPI adjustment, which adjustment (decrease or increase) is applied to the Additional Rent for the then current Lease Year.
Landlord's delay in submitting any statement contemplated herein for any Lease Year shall not affect the provisions of this Paragraph, nor constitute a waiver of Landlord's rights as set forth herein for said Lease Year or any subsequent Lease Years during the Lease Term or any extensions thereof.
The process for the Market Adjustment will commence on the date that is 90 days after the first day of Lease Years 15, 30, 45, 60, 75, and 90 as applicable (the “Market Date”).
Failure to pay the First Lease Year's Rent at the time of lease execution will result in the cancellation of the lease and forfeiture of all money paid.