Adjusted Commencement Date Sample Clauses
The Adjusted Commencement Date clause defines the revised date on which a contract, lease, or project officially begins, superseding the originally scheduled start date. This adjustment typically occurs when certain conditions precedent are not met, delays arise in construction, or other agreed-upon events postpone the initial commencement. By specifying a new effective start date, the clause ensures that all parties have a clear and mutually agreed timeline, thereby preventing disputes related to obligations, deadlines, or performance periods that depend on the commencement date.
Adjusted Commencement Date. In the event Tenant cannot have access to the entire Leased Premises by the Tenant’s Work Commencement Date and occupancy and possession of the entire Leased Premises by the Commencement Date due to Landlord’s failure to complete Landlord’s Work, the following shall apply.
a. The Adjusted Commencement Date shall be the later date of either of the following:
(i) The date which is sixteen (16) days subsequent to the actual Tenant’s Work Commencement Date.
(ii) The date that Landlord’s Work is substantially completed.
Adjusted Commencement Date. In the event LESSEE cannot have access to the entire Leased Premises by the Fixturing Date and occupancy and possession of the entire Leased Premises by the Commencement Date due to LESSOR’S failure to have the Leased Premises ready, the following shall apply.
a. The Adjusted Commencement Date shall be the later date of either of the following:
(i) The date which is sixteen (16) days subsequent to the actual Fixturing Date.
(ii) The date that construction/remodeling in the Leased Premises is completed in its entirety.
b. Amendment & Prorated Rent By amendment to be executed in the same manner as the execution of this Lease, LESSOR and LESSEE shall establish the Adjusted Commencement Date and corresponding rent payable. If the Commencement Date is other than the first day of the month, the rent payable in the first month of the Lease Term shall be prorated and shall be the product obtained by multiplying the full monthly rent payable by a fraction, the numerator of which is the number of leased days in the applicable calendar month and the denominator of which is equal to the total number of days in the applicable calendar month.