First Offer Commencement Date during First Eighteen Months Sample Clauses

First Offer Commencement Date during First Eighteen Months. In the event that the “First Offer Commencement Date,” as that term is defined in Section 1.3.5, below, shall occur during the first eighteen (18) months of the initial Lease Term, then Tenant shall pay rent for the First Offer Space (“First Offer Rent”) as follows: (i) Tenant shall pay Base Rent for the First Offer Space at the same rate per rentable square foot payable from time to time by Tenant for the Initial Premises (as set forth in Section 4.1 of the Summary and specifically disregarding the Base Rent applicable to any initial Premises Basement Premises), and (ii) Tenant shall pay Tenant’s Share of Direct Expenses for the First Offer Space in accordance with the terms of this Lease, provided that Tenant’s Share with respect to the First Offer Space shall be calculated by dividing the rentable square footage of the First Offer Space leased by Tenant by the Building RSF. Further, in connection with the Base Rent payable by Tenant for First Offer Space pursuant to the terms of this Section 1.3.3.1, the terms of Section 3.2 of this Lease shall specifically be inapplicable. Notwithstanding the forgoing, if the First Offer Rent is calculated under this Section 1.3.3.1, and so long as Tenant is not in Default of the Lease, Tenant shall be entitled to abated monthly Base Rent applicable to the First Offer Space, commencing as of the First Offer Commencement Date and continuing for the “First Offer Abatement Rent Period,” as that term is defined, below, For purposes of this Lease, the “First Offer Abatement Rent Period” shall mean the number of months calculated as the product of (a) eight (8), and (b) the “First Offer Proration Fraction,” as that term is defined in Section 1.3.4.1, below.
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First Offer Commencement Date during First Eighteen Months. In the event that the First Offer Commencement Date shall occur during the first eighteen (18) months of the initial Lease Term, then Tenant shall be entitled to an improvement allowance for the construction of improvements that are permanently affixed to the First Offer Space in an amount equal to the product of (i) $80.00, (ii) the rentable square footage of the First Offer Space leased by Xxxxxx, and (iii) a fraction (the “First Offer Proration Fraction”), the numerator of which equals the number of full calendar months occurring during the period following the First Offer Commencement Date and continuing until Lease Expiration Date, and the denominator of which equals ninety (90). in no event may the First Offer Proration Fraction be greater than one (1).
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Related to First Offer Commencement Date during First Eighteen Months

  • Effective Date The obligations of the Lenders to make Loans and of the Issuing Bank to issue Letters of Credit hereunder shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 9.02):

  • Payment Terms DXC agrees to pay Supplier the undisputed amount of an invoice within ninety (90) days after the receipt of a valid, complete and properly documented invoice. Any prompt payment discount will be calculated from the date a conforming invoice is received by DXC. Payment will be in U.S. currency unless otherwise stated. Payment will not constitute acceptance of Products and/or Services or impair DXC’s right to inspect. Acceptance shall be when DXC deems the Products and/or Services to meet its specified criteria (“Acceptance”). DXC, at its option, and without prior notice to Supplier, shall have the right to set off or deduct from any Supplier’s invoice, any credits, refunds or claims of any kind due DXC.

  • Termination This Agreement may be terminated at any time prior to the Closing:

  • Termination for Cause If Vendor fails to materially perform pursuant to the terms of this Agreement, TIPS shall provide written notice to Vendor specifying the default. If Vendor does not cure such default within thirty (30) days, TIPS may terminate this Agreement, in whole or in part, for cause. If TIPS terminates this Agreement for cause, and it is later determined that the termination for cause was wrongful, the termination shall automatically be converted to and treated as a termination for convenience.

  • Probationary Period A new employee will be considered on probation until he has completed forty-five (45) days of work (or 337.5 hours of work for employees whose regular hours of work are other than the standard work day), within any twelve (12) calendar months. Upon completion of the probationary period he shall be credited with seniority equal to forty-five (45) working days. With the written consent of the Hospital, the probationary employee and the President of the Local Union or designate, such probationary period may be extended. Any extensions agreed to will be in writing and will specify the length of the extension. The release or discharge of an employee during the probationary period shall not be the subject of a grievance or arbitration.

  • Term of Agreement This Agreement becomes effective upon the date of the last signature below ("Effective Date") and shall remain in effect until the completion of all obligations of both Parties hereto, or five years from the Effective Date, whichever comes first.

  • Annual Notification of Rights If the LEA has a policy of disclosing Education Records and/or Student Data under FERPA (34 CFR § 99.31(a)(1)), LEA shall include a specification of criteria for determining who constitutes a school official and what constitutes a legitimate educational interest in its annual notification of rights.

  • Termination for Convenience TIPS may, by written notice to Vendor, terminate this Agreement for convenience, in whole or in part, at any time by giving thirty (30) days’ written notice to Vendor of such termination, and specifying the effective date thereof.

  • Events of Default If any of the following events (“Events of Default”) shall occur:

  • Term The term of this Agreement will be ten (10) years from the Effective Date (as such term may be extended pursuant to Section 4.2, the “Term”).

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