Extended Lease Term definition

Extended Lease Term means, with respect to each Lease, a period (and any successive period) during which the original Lease Term for such Lease is extended pursuant to Section 3.03 and is equal in duration to any period during which Lessee does not pay Rental Payments (in whole or in part) when scheduled as a result of the occurrence of an event that results in abatement of Lessee’s obligation to make Rental Payments in accordance with the Payment Schedule.
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Extended Lease Term means a period (and any successive period) during which the original Lease Term is extended pursuant to Section 4.2 or 6.5 and is equal in duration to any period during which the Agency Constituent Entities do not pay Lease Payments (in whole or in part) when scheduled as a result of the occurrence of an event that results in abatement of the Agency Constituent Entities’ obligation to make Lease Payments in accordance with Section 6.2 or 6.3.
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Extended Lease Term means the lease term commencing from 4
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Examples of Extended Lease Term in a sentence

  • The rent shall be paid in equal quarterly installments of Three Thousand Two Hundred Fifty and No/100 Dollars ($3,250.00) due on the first day of each quarter, except that during the Extended Lease Term rent due in the first quarter shall not be due until the last day of January to allow for the annual calculation of CPI adjustment to the base rent.

  • Tenant and Landlord agree to annual increases in base rent beginning in the first year of the Extended Lease Term at a rate based on the percentage change of the Consumer Price Index (the “CPI”).

  • The Lease Term shall begin on the Funding Date and end on the first business day after the last scheduled Rental Payment Date, subject to earlier termination pursuant to the Agreement and extension as provided in Section 3.03 of the Agreement, including for any Extended Lease Term; provided that in no event shall any such extension result in the Lease Term extending past , 20 .

  • Operator shall have the right to extend the Term of this Agreement for two (2) consecutive terms of ten (10) years each in accordance with the terms and provisions of this Agreement (collectively "Extended Lease Term") by providing written notice to Owner of Operator’s intent to extend the Term within one hundred eighty (180) days of the end of the existing Term.

  • Each Extended Lease Term shall begin on the expiration date of the Initial Lease Term or previous Extended Lease Term, as the case may be.

  • During the Extended Lease Term, Operator shall pay Owner the amounts set forth in Exhibit D as the consideration for the Lease and Easements.

  • The Expiration Date as defined in Section 1.3 of the Lease is hereby extended from July 31,2020 to July 31,2025 ("Extended Lease Term").

  • Further, Tenant hereby acknowledges that it has accepted and will accept the Leased Premises for the Extended Lease Term “As Is” and that, except as expressly set forth in the Work Letter attached hereto as Exhibit A, and incorporated herein by this reference, Landlord is not obligated to provide any tenant improvements or tenant improvement allowances with respect thereto.

  • The term of this Agreement ("Term") includes the Option Term referenced in Section 3.1, the Initial Lease Term as described in Section 6.1.1 and the Extended Lease Term as described in Section 6.1.2 (together, the Initial Lease Term and the Extended Lease Term, if applicable, is defined as the "Lease Term").

  • All terms and conditions of the Lease shall be applicable to the Leased Premises during the Extended Lease Term, except as expressly set forth herein to the contrary.


More Definitions of Extended Lease Term

Extended Lease Term. Extended Lease Term" shall have the meaning set ------------------- forth in Section 2.1.
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Related to Extended Lease Term

  • Lease Term means the term of this Lease which shall commence on the Commencement Date and continue for the period specified in Section J of the Summary.

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

  • Extended Term shall have the meaning given such term in Section 2.4.

  • Tenant Lease means any lease entered into by the Borrower, any Loan Party or any Subsidiary with respect to any portion of a Property.

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • 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.

  • Base Term Beginning (i) with respect to the Original Premises on the Commencement Date, and (ii) with respect to the Expansion Premises on the Expansion Premises Commencement Date, and ending with respect to the entire Premises on August 31, 2024.”

  • Base Rent As defined in Section 3.1.

  • Space Lease The space or occupancy lease pursuant to which any Borrower holds a leasehold interest in the related Mortgaged Property, together with any estoppels or other agreements executed and delivered by the lessor in favor of the lender under the related Mortgage Loan(s).

  • Initial Rent means [ ] (£[ ]) STERLING yearly (exclusive of any VAT);

  • 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.

  • Basic Rent means Basic Rent as defined in Paragraph 6.

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

  • 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:

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Minimum Rent means the sum of Sixty-Six Million One Hundred Seventy-Six Thousand Five Hundred and Twenty-Six Dollars ($66,176,526) per annum; subject, in each case, to adjustment as provided in Section 3.1.1(b).

  • Landlord Delay shall occur if either: (i) Landlord fails to complete the Base Building and/or other improvements on the Project that are required by the DDA, the Parking REA and/or the CC&Rs, and as a direct result of such failure Tenant is unable to obtain a temporary or permanent certificate of occupancy for the Premises upon substantial completion of the Tenant Improvements; or (ii) substantial completion of the Warm Shell Improvements or Tenant Improvements is delayed directly and solely as a result of any of the following and such delay could not have been mitigated by Tenant using commercially reasonable measures, which delay occurs after the Delivery Date and before the Commencement Date and does not result from Tenant's interference or delay in connection with completion of the Tenant Improvements or after a Tenant Default or Work Letter Draw Event: (a) subject to Paragraph 8 above, unreasonable interference by Landlord or Landlord's Contractor with the construction of the Warm Shell Improvements or the Tenant Improvements; (b) Landlord's failure to comply with any deadlines for response to, or submissions from, Tenant as required by this Work Letter; (c) any material Discretionary Changes to Landlord's Plans or the Warm Shell Plans after their final approval by applicable governmental entities (other than Tenant Modifications) that directly affect Tenant's Plans or the Tenant Improvements; and/or (d) Landlord failure to complete portions of the Base Building and/or other improvements on the Project that are Landlord's obligation to complete hereunder, and as a direct result of such failure Tenant and Tenant's contractors do not have access to the Premises to the extent required to complete the Warm Shell Improvements and/or Tenant Improvements. Tenant shall give Landlord at least five (5) days prior notice if Tenant becomes aware that Landlord is in danger of causing a Landlord Delay, and if Landlord takes appropriate measures to prevent such delay within such five (5) day period, no adjustment to the Commencement Date shall be made on account of such Landlord; provided, however, that if such delay was not reasonably foreseeable by Tenant, the five (5) day period for prior notice and opportunity to mitigate provided above shall be changed to forty-eight (48) hours after Tenant becomes aware of such delay or potential delay.

  • Landlord’s Work means the work of constructing the Tenant Improvements.

  • Master Lease means that certain [Master Lease title], relating to the leasing of, inter alia, the Healthcare Facility by Borrower to Master Tenant.

  • Non-Extended Facility has the meaning assigned to such term in Section 3.6(d).

  • Rent as used in this Section 21 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.

  • New Lease Any lease of REO Property entered into on behalf of the Trust, including any lease renewed or extended on behalf of the Trust if the Trust has the right to renegotiate the terms of such lease.

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Renewal Term has the meaning set forth in Section 2.

  • Storage Space means a space where goods of non-hazardous nature are stored and includes cold storage and banking safe vaults;

  • Landlord Work means the work, if any, that Landlord is obligated to perform in the Premises pursuant to a separate agreement (the “Work Letter”), if any, attached to this Lease as Exhibit C.