Pre-Commencement Date definition
Examples of Pre-Commencement Date in a sentence
Any excess or shortfall of the Pre-Commencement Date Obligation during any month prior to the Commencement Date shall be cumulatively carried forward to each succeeding month.
Should Motiva fail to ship the total Pre-Commencement Date Obligation by the end of the month immediately preceding the Commencement Date, then Motiva shall have the obligation to make a payment to Sunoco in an amount equal to the amount of such shortfall in barrels for the Pre- Commencement Date Obligation multiplied by the applicable tariff rate, and Motiva shall have no further obligation to ship any shortfall of Pre-Commencement Date Obligation barrels.
Original Issue Discount (the difference between Original Issue Price and Relevant Principal Amount of this Series A Note) shall accrue on this Series A Note at the interest rate specified above, on a semiannual bond equivalent basis using a 360-day year composed of twelve 30-day months, during the Pre-Commencement Date Period.
Instead, the Pre-Commencement Date Period shall continue to and until occurrence of the Commencement Date or any sooner termination of this Lease pursuant to Sections 48.1.2 or 48.2.2 hereof.
If the total rent payable by the Current Operator to Lessor is more than the Rent which would have been payable by Lessee under this Lease assuming the Commencement Date had occurred on the Pre-Commencement Date, then such excess payment by such current operator shall be accrued and carried forward and provided by Lessor to Lessee as a credit towards Lessee's Minimum Rent obligations under this Lease on and as of the Commencement Date.
Sources Uses ------- ---- $23,600,000 - Bond Proceeds $31,500,000 - Final GMP $ 3,940,000 - SJPAC Proceeds $ 450,000 - Costs of Issuance [Note: capitalized interest is now "off budget"] $ 4,310,000 - LCCA $1,400,000 - Negative TCCA $ 750,000 - Tenant Pre-Commencement Date Contribution $ 750,000 - Landlord Pre-Commencement Date Contribution $33,350,000 - TOTAL SOURCES $33,350,000 - TOTAL USES =========== =========== EXAMPLE THREE: No Bonds issued A.
Section 19.2 Landlord shall exercise commercially reasonable efforts, subject to Tenant Delay and Unavoidable Delays (i) to substantially complete Landlord’s Pre-Commencement Date Work on or before March 15, 2006; (ii) to complete portions of Landlord’s Post-Commencement Date Work on the dates set forth in Exhibit B to this Lease; and (iii) to substantially complete Landlord’s Common Area Work on the dates set forth in Exhibit B to this Lease.
Notwithstanding the foregoing, the parties acknowledge and agree that the foregoing indemnity shall not apply to Assignor’s obligation to pay the Pre-Commencement Date Rent as and when due under the Lease.
Except as expressly set forth in this Section 2(c) of this Agreement, Executive shall not be eligible for any other payments or other forms of compensation or benefits in the event of a Pre-Commencement Date Termination Event, and the payments and benefits expressly described in this Section 2(c) of this Agreement shall be the sole remedy available to Executive in the event that Executive brings any claim against the Company relating to a Pre-Commencement Date Termination Event.
The Performance Standards are not applicable to any administration of Pre-Commencement Date IBNR pursuant to SECTION 4.1.5. As specified in ATTACHMENTS D-L AND D-2, the Performance Standards are divided into Goal Standards, the attainment of which represents optimal performance and Termination Standards, which reflect the level of performance which will provide a basis for termination of this Agreement.