Second Additional Premises Commencement Date definition

Second Additional Premises Commencement Date means the date that is the earlier to occur of (i) the date on which Landlord substantially completes (hereinafter defined) the Tenant Improvements described in the Work Agreement attached hereto as Exhibit B (the “Work Agreement”), or, if there occurs any Tenant Delay (as such term is defined in the Work Agreement), the date on which Landlord would have substantially completed the Tenant Improvements but for such Tenant Delay and (ii) the date on which Tenant, or anyone claiming by, through or under Tenant, first commences use or occupancy of any portion of the Second Additional Premises for the conduct of its business. The Tenant Improvements shall be deemed “substantially complete” on the date that (a) all items of the Tenant Improvements, excluding Long Lead Items (as defined in the Work Agreement), have been completed, subject only to punch list items of work which do not substantially interfere with Tenant’s use of the Second Additional Premises for general office use and (b) Landlord has obtained and delivered to Tenant final inspection from City of Durham inspectors with respect to all open permits relating to the Tenant Improvements which permit Tenant to occupy the Second Additional Premises. Landlord shall use commercially reasonable efforts to obtain a certificate of occupancy for the Second Additional Premises within thirty (30) days after the date on which Landlord substantially completes the Tenant Improvements. Reference is made to the form of Declaration of Second Additional Premises Commencement Date (the “Second Additional Premises Declaration”) attached hereto as Exhibit C. After the Second Additional Premises Commencement Date, Landlord shall complete the Second Additional Premises Declaration and deliver the completed Second Additional Premises Declaration to Tenant. Within five (5) business days after Tenant receives the completed Second Additional Premises Declaration from Landlord, Tenant shall execute and return the Second Additional Premises Declaration to Landlord to confirm the Second Additional Premises Commencement Date. Failure to execute the Second Additional Premises Declaration shall not delay or otherwise affect the occurrence of the Second Additional Premises Commencement Date.
View Source
Second Additional Premises Commencement Date shall be the first to occur of (i) January 1, 2005 and (ii) the date on which Tenant commences occupancy of any portion of the Second Additional Premises for the "Permitted Uses" (defined in Section 1.1 of the Original Lease) provided, however, in no event shall Tenant attempt, seek or have any right to occupancy of the Second Additional Premises prior to the date on which Landlord substantially completes "Landlord's Work" (defined in Section 7 hereof). As soon as may be convenient after the date has been determined on which the Second Additional Premises Commencement Date occurs as aforesaid, Landlord and Tenant agree to join with each other in the execution of a written Declaration, in the form of Exhibit C to the Original Lease, in which the Second Additional Premises Commencement Date and the Term of the Lease as amended by this Amendment shall be stated. If Tenant shall fail to execute such Declaration, the Second Additional Premises Commencement Date and Lease Term shall be as reasonably determined by Landlord in accordance with the terms of this Amendment.
View Source
Second Additional Premises Commencement Date shall be the earlier of (a) December 1, 2002, or (b) the date the Leasehold Improvements (as defined in Exhibit B attached hereto) for the Second Additional Premises have been substantially completed pursuant to Exhibit B attached hereto. All references in the Lease to the Premises from and after the Second Additional Premises Commencement Date shall refer to the Premises, the First Additional Premises and the Second Additional Premises.
View Source

Examples of Second Additional Premises Commencement Date in a sentence

  • Notwithstanding the foregoing, Landlord and Tenant acknowledge and agree that the Temporary Premises are part of the “Second Additional Premises” identified in the Second Amendment, and, accordingly, Tenant shall not be required to surrender possession of the Temporary Premises upon the Second Additional Premises Commencement Date.

  • The Term of the Lease is hereby extended for an additional period commencing as of July 1, 2013 and expiring on the date (the “Lease Expiration Date”) that is one hundred twenty (120) full calendar months following the Second Additional Premises Commencement Date.

  • Tenant’s Proportionate Share of Operating Costs and Tenant’s Proportionate Share of Real Estate Taxes shall be increased in proportion to the Gross Leasable Area following the Second Additional Premises Commencement Date and the Third Additional Premises Commencement Date.

  • When the Second Additional Premises Commencement Date is established, the parties shall confirm the actual Differential Amount in the commencement certificate to be executed pursuant to Section 2(c) of this Amendment.

  • Effective as of the Second Additional Premises Commencement Date, the Base Rent payable under this Lease shall be according to Schedule 1 attached hereto and incorporated herein by this reference.

  • For purposes of clarification only, attached hereto as Schedule 2 is an example of how the Differential Amount would be calculated if the Second Additional Premises Commencement Date were January 1, 2012.

  • The Differential Amount shall be amortized at 4.15% over the period beginning on the Second Additional Premises Commencement Date and ending on the Expiration Date (as extended pursuant to Section 3 of this Amendment above) and payable in equal monthly installments concurrently with payments of Base Rent during such period.

  • Landlord shall facilitate opening of a café at the Project on or before the Second Additional Premises Commencement Date.

  • After the Second Additional Premises Commencement Date, Landlord shall complete the Second Additional Premises Declaration and deliver the completed Second Additional Premises Declaration to Tenant.

  • Pursuant to the Fifth Amendment, Landlord and Tenant agreed to and do hereby confirm that the Second Additional Premises Commencement Date is ______________, 201__.


More Definitions of Second Additional Premises Commencement Date

Second Additional Premises Commencement Date shall be the earlier of (a) May 15, 2013 and (b) the day the work described in the Second Work Letter (the “Second Additional Tenant Improvements”) is Substantially Complete. Tenant shall execute and deliver to Landlord written acknowledgment of the actual Second Additional Premises Commencement Date within ten (10) days after Tenant takes occupancy of the Second Additional Premises, in the form attached as Exhibit C hereto. Failure to execute and deliver such acknowledgment, however, shall not affect the Second Additional Premises Commencement Date or Landlord’s or Tenant’s liability hereunder. Failure by Tenant to obtain validation by any medical review board or other similar governmental licensing of the First Floor Premises required for the Permitted Use by Tenant shall not serve to extend the Second Additional Premises Commencement Date. The term “Substantially Complete” or “Substantial Completion” means that the Second Additional Tenant Improvements are substantially complete in accordance with the Approved Plans (as defined in the Second Work Letter), except for minor punch list items.
View Source
Second Additional Premises Commencement Date shall have the meaning given in Section 2.01(c).
View Source

Related to Second Additional Premises Commencement Date

  • Expansion Space means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.

  • Commencement Date means the date of this Agreement;

  • Construction Commencement Date means the date set out in the Addendum, if applicable, by which you must commence construction of the Hotel. For the Hotel to be considered under construction, you

  • Lease Commencement Date has the meaning specified in Section 3.2 of the Master Lease.

  • Rent Commencement Date means [Insert date or description] or any later date calculated in accordance with paragraph 3.3 of Part 5 of the Schedule;