Duration of Lease Term. This Agreement shall become effective upon its execution and delivery and the leasehold interest created hereby shall then begin, and, unless sooner terminated or extended under the provisions hereof (including particularly Articles X and XI), shall expire upon the latter to occur of the following events: (i) midnight, September 1, 2037, or (ii) payment in full of all Bonds and any Additional Bonds.
Duration of Lease Term. Quiet Enjoyment 7
Duration of Lease Term. The Lease Term shall commence as of the date hereof. The Initial Term shall terminate on December 31, 2016. This Lease may be renewed, solely at the option of the Town, for the number of Renewal Terms represented in Exhibit C (Base Rentals Schedule) attached hereto. The Town hereby finds that the maximum Lease Term hereunder does not exceed the weighted average useful life of the Leased Property. The Town further determines and declares that the period during which the Town has an option to purchase the Trustee’s leasehold interest in the Leased Property (i.e. the entire maximum Lease Term) does not exceed the useful life of the Leased Property. The Finance Director or other officer of the Town at any time charged with the responsibility of formulating budget proposals for the Town is hereby directed to include in the annual budget proposals submitted to the Council, in any year in which this Lease shall be in effect, items for all payments required for the ensuing Renewal Term under this Lease until such time, if any, as the Town may determine to not renew and terminate this Lease. Notwithstanding this directive regarding the formulation of budget proposals, it is the intention of the Town that any decision to effect an Appropriation for the Base Rentals and Additional Rentals shall be made solely by the Council in its absolute discretion and not by any other official of the Town, as further provided in the following paragraph. During the Lease Term, the Town shall in any event, whether or not the Lease is to be renewed, furnish the Trustee with copies of its annual budget promptly after the budget is adopted. Not later than December 15 of the then current Initial Term or any Renewal Term the Town Representative shall give written notice (in substantially the form set forth in Exhibit D attached hereto) to the Trustee that either:
(a) the Town has effected or intends to effect on a timely basis an Appropriation for the ensuing Fiscal Year which includes (1) sufficient amounts authorized and directed to be used to pay all of the Base Rentals and (2) sufficient amounts to pay such Additional Rentals as are estimated to become due, all as further provided in Sections 6.2, 6.3 and 6.4 of this Lease, whereupon, this Lease shall be renewed for the ensuing Fiscal Year; or
(b) the Town has determined, for any reason, not to renew this Lease for the ensuing Fiscal Year. Subject to the provisions of Section 6.4(a) hereof, the failure to give such notice shall not c...
Duration of Lease Term. The Lease Term shall commence as of the date
Duration of Lease Term. This Lease and the obligations of the parties hereunder shall become effective as of the Effective Date. For purposes of measuring the duration of this Lease, the Lease Term shall commence on the "Rent Commencement Date" (as specified in Section 1.5) and shall continue for the term specified in Section 1.4. If such Rent Commencement Date is other than the first day of a calendar month, the first day of the calendar month immediately following such date shall be used for purposes of calculating anniversaries of the commencement of the Lease Term.
Duration of Lease Term. County’s Annual Right To Renew Lease 9 Section 4.02. Termination of Lease Term 10 ENJOYMENT OF LEASED PROPERTY 10
Duration of Lease Term. Tenant's lease of the Premises shall commence on the Commencement Date and terminate on the Expiration Date or such earlier or later date as may be provided for under this Lease. Notwithstanding anything to the contrary in Section 1.6, if Landlord is unable to deliver possession of the Premises to Tenant with Landlord's Work constructed by Landlord's contractor substantially completed in accordance with Exhibit C on the date specified in Section 1.6 and such delay (to the extent of such delay) is due to no fault on the part of Tenant, then the Commencement Date shall be the earlier of the date on which Tenant first occupies the Premises or the date that is ten (10) days from the date of Landlord's written notice to Tenant of substantial completion of Landlord's Work constructed by Landlord's contractor provided for in Section 2, above.
Duration of Lease Term. The Lease Term will commence and terminate on the dates shown on the cover page hereof unless earlier terminated as provided in Section 6.
Duration of Lease Term. The Lease Term will commence and terminate on the dates shown on the cover page hereof unless earlier terminated as provided in Section 6. No provision of this Lease will be construed as creating a general obligation or other indebtedness of the Lessee within the meaning of any constitutional or statutory debt limitation.
Duration of Lease Term. This Second Supplemental Lease shall become effective upon its delivery and the leasehold interest created by this Second Supplemental Lease shall then begin, and, subject to the other provisions of the Original Lease, as amended (including particularly Articles X, XI and XII of the Original Lease), shall expire at midnight, January 1, 2025, or if at such time and on such date Payment in Full of the Bonds shall not have been made, then on such date as such payment shall have been made.
