Lease Term Adjustment Sample Clauses

Lease Term Adjustment. If, for any reason, other than delays caused by the Tenant, the Leased Premises are not ready for Tenant’s occupancy on June 1, 2011, the Tenant’s rental obligation and other monetary expenses (i.e. taxes, utilities, etc.) shall be abated in direct proportion to the number of days of delay. It is hereby agreed that the premises shall be deemed ready for occupancy on the day the Landlord receives a T.C.O. or C.O. or the appropriate letter of completion from a governing authority, or on the day the Landlord gives Tenant the keys to the Leased Premises if a building permit has not been applied for and/or is not required by the appropriate authority.
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Lease Term Adjustment. Notwithstanding anything in this Lease to the contrary, in the event Landlord receives a commitment to provide permanent financing at a rate less than ten and a half percent (10.5%) or an appraisal of the Building totaling less than $36,000,000.00 at the time Landlord obtains permanent financing for the Building, the Term of this Lease shall be the lesser of (i) fifteen (15) years and (ii) the greater of (A) the maximum term that will allow Tenant to account for the Lease as an operating lease under Generally Accepted Accounting Principles and (B) twelve (12) years.
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Lease Term Adjustment. Notwithstanding anything in this Lease to the contrary, in the event Landlord receives an appraisal of the Building totaling less than $31,000,000.00, exclusive of the value of Tenant Improvements (as defined in the Workletter), at the time Landlord obtains permanent financing for the Building, the Term of this Lease shall be the lesser of (i) fifteen (15) years and (ii) the greater of (A) the maximum term that will allow Tenant to account for the Lease as an operating lease under Generally Accepted Accounting Principles and (B) twelve (12) years.
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Lease Term Adjustment. If, for any reason, other than delays caused by the Tenant, the Leased Premises are not ready for Tenant's occupancy on September 1, 1996, the Tenant's rental obligation and other monetary expenses (i.e. taxes, utilities, etc.) shall be abated in direct proportion to the number of days of delay. It is hereby agreed that the premises shall be deemed ready for occupancy on the date of Substantial Completion of the Tenant Improvements for the Leased Premises. "Substantial Completion" is defined in Exhibit B, attached hereto and incorporated by reference herein. [Omitted because stricken by parties.]
Sample 1
Lease Term Adjustment. If, for any reason, other than delays caused by the Tenant, the Leased Premises are not ready for Tenant's occupancy on August 15, 2002, the Tenant's rental obligation and other monetary expenses (i.e. taxes, utilities, etc.) shall be abated in direct proportion to the number of days of delay. It is hereby agreed that the premises shall be deemed ready for occupancy on the day the Landlord receives a Temporary Certificate of Occupancy (T.C.O) or Certificate of Occupancy (C.O.) from the appropriate authority, or on the day the Landlord gives Tenant the keys to the Leased Premises if a building permit has not been applied for and/or is not required by the appropriate authority.
Sample 1
Lease Term Adjustment. If for any reason other than delays caused by or at the request of the Tenant, the Leased Premises are not ready for the occupancy on or before June 1, 1991, Tenant's rental obligations and other monetary obligations (i.e., taxes, utilities, common area maintenance, etc.) shall be abated in direct proportion to the number of days of delay. In such event, Base Monthly Rent due for the period starting October 1, 1992, shall be abated for 3 a total number of days equal to the number of days of such delay. It is hereby agreed that the Leased Premises shall be deemed ready for occupancy on the date that (i) Landlord has received either a temporary certificate of occupancy or a certificate of occupancy from the City of Fort Collxxx; (xi) Landlord has delivered a true copy of said temporary certificate of occupancy or certificate of occupancy to the Tenant; (iii) Landlord has delivered to Tenant a certificate by Landlord's architect that the Leased Premises have been constructed in accordance with the plans and specifications approved by Tenant and (iv) the walk-through provided for in Paragraph B of Exhibit "C" of this Lease has been completed. The Lease Term may be similarly adjusted in the event that items identified in the walk-through to be conducted pursuant to Paragraph B of Exhibit "C" would unreasonably interfere with Tenant's use and occupancy of the Leased Premises.
Sample 1
Lease Term Adjustment. If, for any reason, other than delays caused by the Tenant, the Leased Premises are not ready for Tenant's occupancy on October 1, 1998, the Tenant's rental obligation and other monetary expenses (i.e. taxes, utilities, etc.) shall be abated in direct proportion to the number of days of delay. It is hereby agreed that the premises shall be deemed ready for occupancy on the day the Landlord receives a T.C.O. or C.O. from the appropriate authority, or on the day the Landlord gives Tenant the keys to the Leased Premises if a building permit has not been applied for and/or is not required by the appropriate authority. If the premises are not ready for occupancy by October 15, 1998, so long delays are not caused by Tenant, Landlord will be responsible for paying Tenant the additional rent of $210.00 per day this is charged for holding over in the Tenant's current space at 0000 Xxxxxx Xxxxxx. The total amount due from Landlord will be credited against Tenant's rent obligation when the Tenant occupies the space. If Landlord is unable to receive a Certificate of Occupancy and deliver the space to the Tenant by November 15, 1998, Tenant will have the option to terminate this Lease Agreement upon written notice to Landlord by November 20, 1998.
Sample 1
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Lease Term Adjustment. If, for any reason, other than delays caused by the Tenant, the Leased Premises are not ready for Tenants occupancy on May 1, 2000 for Suites C/E and June 1, 2000 for Suites G, H, I, J, the Tenant's rental obligation and other monetary expenses (i.e. taxes, utilities, etc.) shall be abated in direct proportion to the number of days of delay. It is hereby agreed that the premises shall be deemed ready for occupancy on the day the Landlord receives a T.C.O. or C.O. from the appropriate authority, or on the day the Landlord gives Tenant the keys to the Leased Premises if a building permit has not been applied for and/or is not required by the appropriate authority.
Sample 1

Related to Lease Term Adjustment

  • Base Rent Adjustment (a) The BASE RENT (subject to adjustment as set forth in Section 1.08(a) above) payable during the EXTENDED TERM, subject to the provisions of part (b) of this Section 3.03, shall be increased from the BASE RENT payable immediately prior to the first month of the EXTENDED TERM to the then fair market rental rate determined in connection with part (b) of this Section 3.03.

  • Rent Adjustment (a) If, solely as a result of Congressional enactment of any law (including, without limitation, any modification of, or amendment or addition to, the Internal Revenue Code of 1986, as amended, (“Code”)), the maximum effective corporate income tax rate (exclusive of any minimum tax rate) for calendar-year taxpayers (“Effective Rate”) is higher than thirty-five percent (35%) for any year during the lease term, then Lessor shall have the right to increase such rent payments by requiring payment of a single additional sum. The additional sum shall be equal to the product of (i) the Effective Rate (expressed as a decimal) for such year less .35 (or, in the event that any adjustment has been made hereunder for any previous year, the Effective Rate (expressed as a decimal) used in calculating the next previous adjustment) times (ii) the adjusted Termination Value (defined below), divided by (iii) the difference between the new Effective Rate (expressed as a decimal) and one (1). The adjusted Termination Value shall be the Termination Value (calculated as of the first rent due in the year for which the adjustment is being made) minus the Tax Benefits that would be allowable under Section 168 of the Code (as of the first day of the year for which such adjustment is being made and all future years of the lease term). The Termination Values and Tax Benefits are defined on the Schedule. Lessee shall pay to Lessor the full amount of the additional rent payment on the later of (i) receipt of notice or (ii) the first day of the year for which such adjustment is being made.

  • Base Year Calendar year 2000.

  • Base Rent Adjustments Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an “Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated.

  • CPI Adjustment The fixed fees and other fees expressed as stated dollar amounts in this schedule and in the Agreement shall be increased annually commencing on the one-year anniversary date of the Effective Date by the percentage increase since the Effective Date in consumer prices for services as measured by the United States Consumer Price Index entitled "All Services Less Rent of Shelter" or a similar index should such index no longer be published.

  • Year-End Adjustment If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the amount of the investment advisory fees waived or reduced and other payments remitted by the Adviser to the Fund or Funds with respect to the previous fiscal year shall equal the Excess Amount.

  • Rental Adjustment The lesser of (i) 2%, or (ii) 1.25 times the change in the Price Index, as described in Section 4.02.

  • Minimum Adjustment The adjustments required by the preceding sections of this Article IV shall be made whenever and as often as any specified event requiring an adjustment shall occur, except that no adjustment of the Exercise Price or the number of shares of Common Stock issuable upon exercise of the Warrants that would otherwise be required shall be made unless and until such adjustment either by itself or with other adjustments not previously made increases or decreases by at least 1% the Exercise Price or the number of shares of Common Stock issuable upon exercise of the Warrants immediately prior to the making of such adjustment. Any adjustment representing a change of less than such minimum amount shall be carried forward and made as soon as such adjustment, together with other adjustments required by this Article IV and not previously made, would result in a minimum adjustment. For the purpose of any adjustment, any specified event shall be deemed to have occurred at the close of business on the date of its occurrence. In computing adjustments under this Article IV, fractional interests in Common Stock shall be taken into account to the nearest one-hundredth of a share.

  • Rent Adjustments 4.1 For the purpose of this Article 4, the following terms are defined as follows:

  • PREMIUM ADJUSTMENT If THE COMPANY overpays a reinsurance premium and THE REINSURER accepts the overpayment, THE REINSURER’s acceptance will not constitute or create a reinsurance liability or increase in any existing reinsurance liability. Instead, THE REINSURER will be liable to THE COMPANY for a credit in the amount of the overpayment. If a reinsured policy terminates, THE REINSURER will refund the excess reinsurance premium. This refund will be on a prorated basis without interest from the date of termination of the policy to the date to which a reinsurance premium has been paid.

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