Term Expiration Date means December 31, of the 21st full calendar year following the Commencement of Commercial Operations, or such earlier date as this Agreement may be terminated by agreement of the parties.
If, at the Term Expiration Date, any Rent remains uncalculated or unpaid, then: (i) Landlord shall with reasonable diligence complete any necessary calculations; (ii) Tenant shall extend the expiry date of such L/C Security from time to time as Landlord reasonably requires; and (iii) in such extended period, Landlord shall not unreasonably refuse to consent to an appropriate reduction of the L/C Security.
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.
If, at the Term Expiration Date, any Rent remains uncalculated or unpaid, then (i) Landlord shall with reasonable diligence complete any necessary calculations, (ii) Tenant shall extend the expiry date of such L/C Security from time to time as Landlord reasonably requires and (iii) in such extended period, Landlord shall not unreasonably refuse to consent to an appropriate reduction of the L/C Security.
If Tenant elects to deliver L/C Security, then Tenant shall provide Landlord, and maintain in full force and effect throughout the Term and until the date that is six (6) months after the then-current Term Expiration Date, a letter of credit in the form of Exhibit E issued by an issuer reasonably satisfactory to Landlord, in the amount of the Security Deposit, with an initial term of at least one year.
Guarantor must exercise one of the Guarantor Expiration Alternatives prior to the Term Expiration Date.
More definitions of Term Expiration Date
Term Expiration Date means a date occurring a number of months or years specified as the “Term” in the Basic Lease Information from the Term Commencement Date (however, if the Term Commencement Date is not the first day of the month, such number of months or years shall be measured from the first day of the month following the month in which the Term Commencement Date occurs), unless sooner terminated pursuant to the terms of this Lease. The Term Expiration Date will be set forth on the memorandum to be executed between Tenant and Landlord pursuant to Section 1.30 (Exhibit D).
Term Expiration Date means the date that is the number of years and/or months set forth on the Basic Lease Information after the Term Commencement Date or such earlier date upon which this Lease is terminated pursuant to the terms hereof.
Term Expiration Date means, in respect of an Item of Equipment, the date that is specified as the Lease Expiry Date in Schedule I to the Additional Agreement and the Sublease Supplement for such Item of Equipment.