Common use of Commencement of Lease Period Clause in Contracts

Commencement of Lease Period. On or before the date falling three (3) Banking Days after the service of the Delivery Request Notice, the Lessor confirming its satisfaction with the conditions set out in clauses 4.1 and 4.2, the Lessor shall, subject to the provisions of clauses 4.1 and 4.2, deliver the Ship to the Lessee under this Lease and the Ship shall become subject to and governed by this Lease, the Lease Period shall commence and the Lessee shall be deemed to have accepted delivery of the Ship under this Lease. Delivery shall be conclusively evidenced by the execution of the Protocol of Delivery and Acceptance by the Lessor and the Lessee.