Examples of Removal Effective Date in a sentence
The parties acknowledge that the LUC Facility is currently vacant and XXX Xxxxxx has removed (or will remove prior to the Removal Effective Date) all of the Tenant Personal Property relating to the LUC Facility from the XXX Xxxxxxxx.
If the Removal Effective Date is not the first day of a calendar month, then the LUC Facility Decrease for the month in which the Removal Effective Date occurs will be prorated based on the number of days in the month in which the Removal Effective Date occurs falling on and after the Removal Effective Date over the total number of days in that month and such amount will be applied to the next scheduled installment of Minimum Rent.
Effective on the Removal Effective Date, and without further action of the parties, the Tenant’s Proportionate Share for each Facility will be revised to equal the percentage obtained by dividing the Minimum Rent allocated to that Facility (as adjusted under this Section 1.2) by the aggregate Minimum Rent for the Premises (as adjusted under this Section 1.2).
Effective on the Removal Effective Date, Minimum Rent shall be reduced by an annual amount equal to the product of (a) the Landlord’s Net Proceeds (as defined below) multiplied by (b) [***] (the “XXX Xxxxxxxx Decrease”).