Term Commencement Date definition

Term Commencement Date shall be the day Landlord tenders possession of the Premises to Tenant free of occupants. Tenant shall execute and deliver to Landlord written acknowledgment of the actual Term Commencement Date and the Term Expiration Date within ten (10) days after Tenant takes occupancy of the Premises, in the form attached as Exhibit C hereto. Failure to execute and deliver such acknowledgment, however, shall not affect the Term Commencement Date or Landlord’s or Tenant’s liability hereunder. Failure by Tenant to obtain any governmental licensing or similar governmental approval of the Premises required for the Permitted Use by Tenant shall not serve to extend the Term Commencement Date. In the event that no other lease of the Premises is then in effect, Landlord may permit (in Landlord’s reasonable discretion) Tenant to enter upon the Premises up to 30 days’ prior to the Term Commencement Date for the purpose of installing improvements or the placement of personal property. In such event, Tenant shall furnish to Landlord evidence satisfactory to Landlord in advance that insurance coverages required of Tenant under the provisions of Article 23 are in effect, and such entry shall be subject to all the terms and conditions applicable to the period between the Term Commencement Date and the Rent Commencement Date; and provided, further, that if the Term Commencement Date is delayed due to such early access, then the Term Commencement Date shall be the date that the Term Commencement Date would have occurred but for such delay.
Term Commencement Date shall be the date set forth in Section 2.4 above. Tenant shall execute and deliver to Landlord written acknowledgment of the actual Term Commencement Date within ten (I 0) days after the Execution Date, in the form attached as Exhibit C hereto. Failure to execute and deliver such acknowledgment, however, shall not affect the Term 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 Premises required for the Permitted Use by Tenant shall not serve to extend the Term Commencement Date.
Term Commencement Date means the “Substantial Completion Date” as such term is defined in the Development Agreement.

Examples of Term Commencement Date in a sentence

  • The Lease Term Commencement Date, and final measurement verification of the Space, shall be memorialized by Lease Amendment.


More Definitions of Term Commencement Date

Term Commencement Date means the date shown on the first page of this Lease as the Term Commencement Date;
Term Commencement Date means the date when the Term commences as determined pursuant to Section 2.01 hereof.
Term Commencement Date shall be the date Landlord tenders possession of the Premises to Tenant. Tenant shall execute and deliver to Landlord written acknowledgment of the actual Term Commencement Date within ten (10) days after Tenant takes occupancy of the Premises, in the form attached as Exhibit C hereto. Failure to execute and deliver such acknowledgment, however, shall not affect the Term Commencement Date or Landlord’s or Tenant’s liability hereunder. Failure by Tenant to obtain any governmental licensing or similar governmental approval of the Premises required for the Permitted Use by Tenant shall not serve to extend the Term Commencement Date. Tenant agrees that in the event Landlord does not tender possession of the Premises to Tenant on or before the Estimated Term Commencement Date for any reason, then (a) this Lease shall not be void or voidable and (b) Landlord shall not be liable to Tenant for any loss or damage resulting therefrom. Notwithstanding the foregoing, but subject to any Force Majeure (as hereinafter defined) or any action or omission of Tenant that delays the delivery of the Premises to Tenant, if Landlord has not tendered possession of the Premises to Tenant by the day that is sixty (60) days after the Estimated Term Commencement Date, the per diem Base Rent shall xxxxx by one (1) day for each day after such 60th day that Landlord has not delivered the Premises to Tenant. If possession of Landlord’s delivery of the Premises to Tenant is delayed by any action or omission of Tenant, then the Term Commencement Date shall be the date that the Term Commencement Date would have occurred but for such delay.
Term Commencement Date shall be the earlier to occur of (i) the Estimated Term Commencement Date, and (ii) the date on which Tenant commences operation of its business in the Premises or any part thereof. Tenant shall execute and deliver to Landlord written acknowledgment of the actual Term Commencement Date and the Term Expiration Date within ten (10) days after the Term Commencement Date, in the form attached as Exhibit C hereto. Failure to execute and deliver such acknowledgment, however, shall not affect the Term 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 Premises required for the Permitted Use by Tenant shall not serve to extend the Term Commencement Date. The term “Substantially Complete” or “Substantial Completion” means (a) with respect to the work described in the Work Letter to be performed by Tenant (the “Tenant Improvements”), such Tenant Improvements are substantially complete in accordance with the Approved Plans (as defined in the Work Letter (as hereinafter defined)), except for minor punch list items, as evidenced by either a certificate of substantial completion executed by Tenant’s architect or a temporary certificate of occupancy for the Premises, and (b) with respect to the Landlord’s Work, such Landlord’s Work is substantially complete in accordance with the Base Building Plans, except for minor punch list items, as evidenced by a certificate of substantial completion executed by Landlord’s architect and a temporary certificate of occupancy for the core and shell of the Building.
Term Commencement Date has the meaning ascribed to it in Section 9.1(b).
Term Commencement Date shall be the later of (i) November 1, 2006 or (ii) the date on which Landlord’s Work is Substantially Complete (or the date on which Landlord’s Work would have been Substantially Complete absent Tenant Delay or Force Majeure (as defined below)); provided, however, that if the Term Commencement Date is not the first day of a calendar month, then the first lease year shall be extended through the last day of the calendar month in which the first 12-month period expires, and Rent for the additional period at the end of the first lease year shall be payable at the rate for the 12th month of the Term. “Force Majeure” means accident; breakage; repair; governmental regulation, moratorium or other governmental action. The “Term Expiration Date” shall be the day immediately preceding the seventh (7th) anniversary of the Term Commencement Date, provided that if such preceding day is not the last day of a calendar month, then the Term Expiration Date shall be the last date of the calendar month in which such preceding day occurs. Landlord and Tenant shall each execute and deliver to the other written acknowledgment of the actual Term Commencement Date and the Term Expiration Date when such are established, and shall attach it to this Lease as Exhibit B. Failure to execute and deliver such acknowledgment, however, shall not affect the Term 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 Premises required for the Permitted Use by Tenant shall not serve to extend the Term Commencement Date.
Term Commencement Date. See Section 3.01.