Common use of Lease Commencement Clause in Contracts

Lease Commencement. 5.1 The Lease will commence on the Commencement Date provided that: a. the Schedule is duly executed by Xxxxxxxx and received by IBM on or prior to the Validity Date and is accepted by IBM; b. Customer has satisfied all of the Conditions Precedent; and c. no Default has occurred. If any of the foregoing conditions are not satisfied, IBM shall have no obligation or liability with respect to the Agreement or the Product, including any obligation to pay the purchase price of the Product. However, IBM, in its sole discretion, may commence the Lease or issue a new Schedule to Customer. If the Commencement Date occurs after the end of the Planned Commencement Month, IBM is entitled to change the Rent. Such change shall become effective upon IBM’s notification to the Customer. 5.2 Provided that the conditions in Section 5.1 above have been satisfied, the Commencement Date for a Lease will be: a. for Equipment and Program Licenses supplied by IBM, the shipment date of such Equipment and the date of delivery for Program Licenses, unless Customer notifies IBM in writing that it has not accepted the Equipment and/or Program License within ten (10) days of receipt thereof by Customer. If services are included in the Schedule the Commencement Date is the start date of the service, as stated in the Supply Agreement, provided the Customer has not, as described above, notified IBM of its rejection of the Equipment and/or Program Licenses; b. for any other leased Product, the date Customer accepted the Product as specified by Customer on a duly executed Certificate of Acceptance, provided that such Certificate of Acceptance is returned to IBM within ten days after the date specified on the Certificate of Acceptance as the acceptance date.

Appears in 3 contracts

Samples: Master Lease Agreement, Master Lease Agreement, Master Lease Agreement

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Lease Commencement. 5.1 The Lease will commence on the Commencement Date provided that: a. the Schedule is duly executed by Xxxxxxxx Customer and received by IBM IGF on or prior to the Validity Date and is accepted by IBMIGF; b. Customer has satisfied all of the Conditions Precedent; and c. no Default has occurred. If any of the foregoing conditions are not satisfied, IBM IGF shall have no obligation or liability with respect to the Agreement or the Product, including any obligation to pay the purchase price of the Product. However, IBMIGF, in its sole discretion, may commence the Lease or issue a new Schedule to Customer. If the Commencement Date occurs after the end of the Planned Commencement Month, IBM IGF is entitled to change the Rent. Such change shall become effective upon IBMIGF’s notification to the Customer. 5.2 Provided that the conditions in Section 5.1 above have been satisfied, the Commencement Date for a Lease will be: a. for Equipment and Program Licenses supplied by IBM, the shipment date of such Equipment and the date of delivery for Program Licenses, unless Customer notifies IBM in writing that it has not accepted the Equipment and/or Program License within ten (10) days of receipt thereof by Customer. If services are included in the Schedule the Commencement Date is the start date of the service, as stated in the Supply Agreement, provided the Customer has not, as described above, notified IBM of its rejection of the Equipment and/or Program Licenses;. b. for any other leased Product, the date Customer accepted the Product as specified by Customer on a duly executed Certificate of Acceptance, provided that such Certificate of Acceptance is returned to IBM IGF within ten days after the date specified on the Certificate of Acceptance as the acceptance date.

Appears in 2 contracts

Samples: Master Lease Agreement, Master Lease Agreement

Lease Commencement. 5.1 The Lease will commence on the Commencement Date provided that: a. the Schedule is duly executed by Xxxxxxxx and received by IBM on or prior to the Validity Date and is accepted by IBM; b. Customer has satisfied all of the Conditions Precedent; and c. no Default has occurred. If any of the foregoing conditions are not satisfied, IBM shall have no obligation or liability with respect to the Agreement or the Product, including any obligation to pay the purchase price of the Product. However, IBM, in its sole discretion, may commence the Lease or issue a new Schedule to Customer. If the Commencement Date occurs after the end of the Planned Commencement Month, IBM is entitled to change the Rent. Such change shall become effective upon IBM’s notification to the Customer. 5.2 Provided that the conditions in Section 5.1 above have been satisfied, the Commencement Date for a Lease will be: a. for Equipment and Program Licenses supplied by IBM, the shipment date from relevant factory site of such Equipment and the date of delivery for Program Licenses, Licenses (delivery meaning such as provision of right to download the Program) unless Customer notifies IBM in writing that it has not accepted the Equipment and/or Program License within ten (10) days of receipt thereof by Customer. If services are included in the Schedule the Commencement Date is the start date of the service, as stated in the Supply Agreement, provided the Customer has not, as described above, notified IBM of its rejection of the Equipment and/or Program Licenses; b. for any other leased Product, the date Customer accepted the Product as specified by Customer on a duly executed Certificate of Acceptance, provided that such Certificate of Acceptance is returned to IBM within ten days after the date specified on the Certificate of Acceptance as the acceptance date.

Appears in 2 contracts

Samples: Master Lease Agreement, Master Lease Agreement

Lease Commencement. 5.1 The Lease will commence on the Commencement Date provided that: a. the Schedule is duly executed by Xxxxxxxx Customer and received by IBM IGF on or prior to the Validity Date and is accepted by IBMIGF; b. Customer has satisfied all of the Conditions Precedent; and c. no Default has occurred. If any of the foregoing conditions are not satisfied, IBM IGF shall have no obligation or liability with respect to the Agreement or the Product, including any obligation to pay the purchase price of the Product. However, IBMIGF, in its sole discretion, may commence the Lease or issue a new Schedule to Customer. If the Commencement Date occurs after the end of the Planned Commencement Month, IBM IGF is entitled to change the Rent. Such change shall become effective upon IBMIGF’s notification to the Customer. 5.2 Provided that the conditions in Section 5.1 above have been satisfied, the Commencement Date for a Lease will be: a. for Equipment and Program Licenses supplied by IBM, the shipment date of such Equipment and the date of delivery for Program Licenses, unless Customer notifies IBM IGF in writing that it has not accepted the Equipment and/or Program License within ten (10) days of receipt thereof by Customer. If services are included in the Schedule the Commencement Date is the start date of the service, service as stated in the Supply Agreement, provided the Customer has not, as described above, notified IBM IGF of its rejection of the Equipment and/or Program Licenses; b. for any other leased Product, the date Customer accepted the Product as specified by Customer on a duly executed Certificate of Acceptance, provided that such Certificate of Acceptance is returned to IBM IGF within ten days after the date specified on the Certificate of Acceptance as the acceptance date.

Appears in 2 contracts

Samples: Master Lease Agreement, Master Lease Agreement

Lease Commencement. 5.1 The Lease will commence on the Commencement Date provided that: a. the Schedule is duly executed by Xxxxxxxx and received by IBM on or prior to the Validity Date and is accepted by IBM; b. Customer has satisfied all of the Conditions Precedent; and c. no Default has occurred. If any of the foregoing conditions are not satisfied, IBM shall have no obligation or liability with respect to the Agreement or the Product, including any obligation to pay the purchase price of the Product. However, IBM, in its sole discretion, may commence the Lease or issue a new Schedule to Customer. If the Commencement Date occurs after the end of the Planned Commencement Month, IBM is entitled to change the RentLease Payment. Such change shall become effective upon IBM’s notification to the Customer. 5.2 Provided that the conditions in Section 5.1 above have been satisfied, the Commencement Date for a Lease will be: a. for Equipment and Program Licenses supplied by IBM, the shipment date of such Equipment and the date of delivery for Program Licenses, unless Customer notifies IBM in writing that it has not accepted the Equipment and/or Program License within ten (10) days of receipt thereof by Customer. If services are included in the Schedule the Commencement Date is the start date of the service, as stated in the Supply Agreement, provided the Customer has not, as described above, notified IBM of its rejection of the Equipment and/or Program Licenses; b. for any other leased Product, the date Customer accepted the Product as specified by Customer on a duly executed Certificate of Acceptance, provided that such Certificate of Acceptance is returned to IBM within ten days after the date specified on the Certificate of Acceptance as the acceptance date.

Appears in 2 contracts

Samples: Master Lease Agreement, Master Lease Agreement

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Lease Commencement. 5.1 The Lease will commence on the Commencement Date provided that: a. the Schedule is duly executed by Xxxxxxxx Customer and received by IBM IGF on or prior to the Validity Date and is accepted by IBMIGF; b. Customer has satisfied all of the Conditions Precedent; and c. no Default has occurred. If any of the foregoing conditions are not satisfied, IBM IGF shall have no obligation or liability with respect to the Agreement or the Product, including any obligation to pay the purchase price of the Product. However, IBMIGF, in its sole discretion, may commence the Lease or issue a new Schedule to Customer. If the Commencement Date occurs after the end of the Planned Commencement Month, IBM IGF is entitled to change the RentLease Payment. Such change shall become effective upon IBMIGF’s notification to the Customer. 5.2 Provided that the conditions in Section 5.1 above have been satisfied, the Commencement Date for a Lease will be: a. for Equipment and Program Licenses supplied by IBM, the shipment date of such Equipment and the date of delivery for Program Licenses, unless Customer notifies IBM in writing that it has not accepted the Equipment and/or Program License within ten (10) days of receipt thereof by Customer. If services are included in the Schedule the Commencement Date is the start date of the service, as stated in the Supply Agreement, provided the Customer has not, as described above, notified IBM of its rejection of the Equipment and/or Program Licenses; b. for any other leased Product, the date Customer accepted the Product as specified by Customer on a duly executed Certificate of Acceptance, provided that such Certificate of Acceptance is returned to IBM IGF within ten days after the date specified on the Certificate of Acceptance as the acceptance date.

Appears in 2 contracts

Samples: Master Lease Agreement, Master Lease Agreement

Lease Commencement. 5.1 The Lease will commence on the Commencement Date provided that: a. the Schedule is duly executed by Xxxxxxxx and received by IBM IGF on or prior to the Validity Date and is accepted by IBMIGF; b. Customer has satisfied all of the Conditions Precedent; and c. no Default has occurred. If any of the foregoing conditions are not satisfied, IBM IGF shall have no obligation or liability with respect to the Agreement or the Product, including any obligation to pay the purchase price of the Product. However, IBMIGF, in its sole discretion, may commence the Lease or issue a new Schedule to Customer. If the Commencement Date occurs after the end of the Planned Commencement Month, IBM IGF is entitled to change the Rent. Such change shall become effective upon IBMIGF’s notification to the Customer. 5.2 Provided that the conditions in Section 5.1 above have been satisfied, the Commencement Date for a Lease will be: a. for Equipment and Program Licenses supplied by IBM, the shipment date of such Equipment and the date of delivery for Program Licenses, unless Customer notifies IBM in writing that it has not accepted the Equipment and/or Program License within ten (10) days of receipt thereof by Customer. If services are included in the Schedule the Commencement Date is the start date of the service, as stated in the Supply Agreement, provided the Customer has not, as described above, notified IBM of its rejection of the Equipment and/or Program Licenses;. b. for any other leased Product, the date Customer accepted the Product as specified by Customer on a duly executed Certificate of Acceptance, provided that such Certificate of Acceptance is returned to IBM IGF within ten days after the date specified on the Certificate of Acceptance as the acceptance date.

Appears in 1 contract

Samples: Master Lease Agreement

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