Expansion Year definition

Expansion Year means each consecutive twelve (12) month period during the Expansion Term; provided, however, that the first (1st) Expansion Year shall commence on the Expansion Commencement Date and end on the last day of the month in which the first anniversary of the Expansion Commencement Date occurs (unless the Expansion Commencement Date is the first (1st) day of a calendar month, in which event the first Expansion Year shall end on the day immediately preceding the first anniversary of the Expansion Commencement Date), and the second and each succeeding Expansion Year shall commence on the first day of the next calendar month; and further provided that the last Expansion Year shall end on the New Expiration Date. At any time during the Expansion Term, Landlord may deliver to Tenant a notice substantially in the form as set forth in Exhibit C attached to the Original Lease, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord pursuant to the terms of the Lease, as amended hereby (subject to correction for factual errors).
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Expansion Year means each consecutive twelve (12) month period during the Expansion Term; provided, however, that the first (1st) Expansion Year shall commence on the Expansion Commencement Date and end on the last day of the month in which the first (1st) anniversary of the Expansion Commencement Date occurs (unless the Expansion Commencement Date is the first (1st) day of a calendar month, in which event the first Expansion Year shall end on the day immediately preceding the first anniversary of the Expansion Commencement Date), and the second and each succeeding Expansion Year shall commence on the first day of the next calendar month; and further provided that the last Expansion Year shall end on the Lease Expiration Date.
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Expansion Year means each consecutive twelve (12) month period during the Third Expansion Term; provided, however, that the first (1st) Expansion Year shall commence on the Third Expansion Commencement Date and end on the last day of the month in which the first anniversary of the Third Expansion Commencement Date occurs (unless the Third Expansion Commencement Date is the first (1st) day of a calendar month, in which event the first Third Expansion Year shall end on the day immediately preceding the first anniversary of the Third Expansion Commencement Date), and the second and each succeeding Third Expansion Year shall commence on the first day of the next calendar month; and further provided that the last Third Expansion Year shall end on the New Expiration Date. The period of time commencing on the Third Expansion Commencement Date and terminating on the New Expiration Date, shall be referred to herein as the "Third Expansion Term."
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Examples of Expansion Year in a sentence

  • As used in this Section 3, “Expansion Year” means the 12 month period commencing on the Thirteenth Amendment Rent Commencement Date, and each consecutive 12 month period thereafter through the Expansion Expiration Date (and, therefore, the final Expansion Year will contain less than 12 months).

  • As consideration for construction of the Expansion Facilities, Producer agrees to tender quantities of Expansion Volume each Expansion Year that at least equal the Annual Expansion Throughput Commitment for such Expansion Year set forth below, and to make a payment to Gatherer after each Expansion Year (the “Expansion Annual Shortfall Payment”) as set forth below if the Annual Expansion Throughput Commitment is not met for such Expansion Year.

  • In all subsequent Monthly Rental payment periods during the Expansion Term commencing on first day of Expansion Year 2 for Suite 110, the calculation of each Monthly Rental amount reflects an annual increase of three percent (3%) and each Annualized Rent amount was calculated by multiplying the corresponding Monthly Rental amount by twelve (12).

  • Any moneys collected by the Trustee with respect to any of the Notes pursuant to this Article Seven shall be applied in the order following, at the date or dates fixed by the Trustee for the distribution of such moneys, upon presentation of the several Notes, and stamping thereon the payment, if only partially paid, and upon surrender thereof if fully paid.

  • In all subsequent Monthly Rental payment periods during the Expansion Term commencing on first day of Expansion Year 2 for Suite 300, the calculation of each Monthly Rental amount reflects an annual increase of three percent (3%) and each Annualized Rent amount was calculated by multiplying the corresponding Monthly Rental amount by twelve (12).

  • Landlord shall provide a tenant improvement allowance as follows: Expansion Year of Lease Term Tenant Improvement Allowance Per Rentable Square Foot 1 $ 10.00 2 $ 8.00 3 $ 6.00 4 $ 4.00 5 None Once additional space has been offered to Tenant one time, Landlord shall have no further obligation to offer other vacant space to Tenant.

  • In all subsequent Monthly Rental payment periods during the Expansion Term commencing on first day of Expansion Year 2 for the KM Tranche, the calculation of each Monthly Rental amount reflects an annual increase of three percent (3%) and each Annualized Rent amount was calculated by multiplying the corresponding Monthly Rental amount by twelve (12).


More Definitions of Expansion Year

Expansion Year means each consecutive twelve (12) month period during the Expansion Term; provided, however, that the first (1st) Expansion Year shall commence on the Expansion Commencement Date and end on the last day of the month in which the first anniversary of the Expansion Commencement Date occurs (unless the Expansion Commencement Date is the first (1st) day of a calendar month, in which event the first Expansion Year shall end on the day immediately preceding the first anniversary of the Expansion Commencement Date), and the second and each succeeding Expansion Year shall commence on the first day of the next calendar month; and further provided that the last Expansion Year shall end on the New Lease Expiration Date. Commencing on the Possession Date and before the Expansion Commencement Date, Tenant shall have the exclusive right to use and access the Expansion Premises for purposes of preparing them for occupancy, including performing the Expansion Tenant Improvements, and to occupy the Expansion Premises (or certain portions of the Expansion Premises) to conduct its business, provided that all of the terms and conditions of the Lease shall apply (including, without limitation, Tenant's obligation to deliver a certificate of insurance to Landlord in accordance with the terms of Section 10.4 of the Lease), other than Tenant's obligation to pay "Base Rent," and "Tenant's Share" of the annual "Direct Expenses," as though the Expansion Commencement Date had occurred. Notwithstanding the foregoing, Tenant will be required to pay for all utilities used by Tenant in the Expansion Premises during such period of occupancy prior to the Expansion Commencement Date, including without limitation, all electricity, water, and gas, as well as any sewage or trash fees. Within sixty (60) days of the Expansion Commencement Date, Landlord may deliver to Tenant a notice substantially in the form as set forth in Exhibit C attached to the Lease, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord pursuant to the terms of the Lease.
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Related to Expansion Year

  • Production Year means the 12- month period between September 1 of one year and August 31 of the following year, inclusive.

  • Operating Year means the calendar year commencing January 1st of each year (including the calendar year within which the Commencement Date occurs) during the Term.

  • Base Year means the period set forth in Section 5 of the Summary.

  • transition year means the financial year of an issuer or business in which the issuer or business changes its financial year-end;

  • taxation year means the calendar year to which an assessment roll applies for the purposes of taxation;

  • Election Year means a year in which ordinary elections for local governments are required to be held;

  • Comparison Year is defined as each calendar year during the term of this Lease subsequent to the Base Year; provided, however, Lessee shall have no obligation to pay a share of the Operating Expense Increase applicable to the first twelve (12) months of the Lease Term (other than such as are mandated by a governmental authority, as to which government mandated expenses Lessee shall pay Lessee's Share, notwithstanding they occur during the first twelve (12) months). Lessee's Share of the Operating Expense Increase for the first and last Comparison Years of the Lease Term shall be prorated according to that portion of such Comparison Year as to which Lessee is responsible for a share of such increase.

  • Vacation Year means the twelve (12) month period commencing on the first (1st) day of April in each calendar year and concluding on the thirty-first (31st) day of March of the following calendar year.

  • Termination Year means the calendar year in which the Employment Period is terminated.

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • Open Year has the meaning specified in Section 4.01(r)(iii).

  • Limitation Year means the Plan Year.

  • Allocation Year Means (i) the period commencing on the Closing Date and ending on December 31, 2006, (ii) any subsequent period commencing on January 1 and ending on the following December 31, or (iii) any portion of the period described in clause (ii) for which the Company is required to allocate Profits, Losses and other items of Company income, gain, loss or deduction pursuant to Article V.

  • Tax Year means a period beginning with 6th April in one year and ending with 5th April in the next;

  • Compensation Year means a period of 12 months expiring 31 March in any year;

  • Determination Year means the Plan Year for which testing is being performed, and the “look-back year” means the immediately preceding twelve (12) month period.

  • Base Tax Year means the property tax levy year used

  • Project Year means the 12 month period beginning from the Effective Date and ending 12 months thereafter and each successive 12 month period following thereafter;

  • Funding Year means in the case of the first Funding Year, the period commencing on the Effective Date and ending on the following March 31, and in the case of Funding Years subsequent to the first Funding Year, the period commencing on the date that is April 1 following the end of the previous Funding Year and ending on the following March 31;

  • Base Year Value means the assessed value of eligible property January 1 preceding the execution of the agreement plus the agreed upon value of eligible property improvements made after January 1 but before the execution of the agreement.

  • Net Rentable Area means with respect to any Project, the floor area of any buildings, structures or improvements available for leasing to tenants (excluding storage lockers and parking spaces), as reasonably determined by the Administrative Agent, the manner of such determination to be consistent for all Projects unless otherwise approved by the Administrative Agent.

  • Annual Fixed Rent See Exhibit A, and Section 3.1.

  • Extension Term means the time period defined in §2.C.

  • Base Rental means the sum of Seven Hundred Nineteen Thousand Two Hundred Sixty-Eight and NO/100 Dollars ($719,268.00), payable by Tenant to Landlord in sixty (60) monthly installments as follows:

  • Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.

  • Estimated Incremental Quarterly Tax Amount has the meaning assigned to such term in Section 6.9.