Lease Years. The Initial Term shall commence on the Commencement Date and end on the Initial Term Expiration Date, subject to renewal as set forth in Section 1.3, below.
Lease Years. 4 through 6. During Lease Years 4, 5 and 6, Base Rent shall be equal to one-hundred three percent (103%) of the Base Rent paid for the immediately preceding Lease Year.
Lease Years. (Tenant's valid election of the alternative described in this Subsection (ii) is referred to as the "No-sale Election.")
Lease Years. No arbitration resulting from the failure of Lessor and Lessee to agree on the Capital Budget shall increase Lessor's obligation for Capital Expenditures beyond the amount set forth in the immediately preceding sentence. In the event there is a Capital Improvement in the Capital Budget which exceeds the amounts Lessor is obligated to provide under this Article XXXVIII and Lessor declines to make such Capital Improvement, if Lessee shall disagree with such decision, the matter may be submitted to arbitration pursuant to Section 40.2 hereof. To the extent that Lessee's obligations under this Lease (including, without limitation, the obligations set forth in Sections 7.2, 8.1 and 9.1 and in Article XXXVII) are dependent upon the availability of amounts for Capital Expenditures which exceed the amounts that Lessor is obligated to provide pursuant to this Article XXXVIII, such obligations of Lessee shall be correspondingly diminished.
Lease Years. The first Lease Year shall be the period of approximately 12 months from the Commencement Date through the last day of the calendar month in which the anniversary of the Commencement Date occurs. Subsequent Lease Years shall be periods of 12 months each.
Lease Years. The first "Lease Year" shall be the period from the Commencement Date to the last day of the twelfth (12th) full calendar month following the calendar month in which the Commencement Date occurs. Thereafter, each consecutive twelve (12) calendar month period shall constitute one (1) Lease Year. Notwithstanding anything contained herein to the contrary, if the Commencement Date occurs on the first (1st) day of a calendar month, the first Lease Year shall be twelve (12) full calendar months. The term may be renewed by sixty (60) days prior written notice by Xxxxxx.
Lease Years. Notwithstanding anything to the contrary contained herein, each of Lessor and Lessee acknowledges and agrees that for purposes of Section 9.5 below, (x) funds expended by Lessee to complete any Required Maintenance Projects shall be deemed funds expended as part of the Annual Minimum Capital Project Amount, and (y) the Required Maintenance Projects shall be deemed Capital Projects.
Lease Years. The term “Lease Year” when used herein shall mean the twelve months commencing on the Commencement Date and each subsequent period of twelve months; provided, however, that if the Commencement Date does not occur on the first day of the calendar month, the first Lease Year shall mean the twelve months commencing on the first day of the calendar month following the Commencement Date. As provided above, if the Commencement Date does not occur on the first day of the calendar month, the first Lease Year shall include the period, if any, from the Commencement Date to the end of the month in which the Commencement Date occurs.
Lease Years. If, after such inspection Tenant continues to dispute such amounts, Tenant may retain a national independent, certified public accountant to audit Landlord's records to determine the proper amount of Tenant's Share. If such audit reveals that Landlord has overcharged Tenant, then within five (5) days after the results of such audit are made available to Landlord, Landlord shall credit Tenant with the amount of such overcharge. If the audit reveals that Tenant was undercharged, then within five (5) days after the results of the audit are made available to Tenant, Tenant shall reimburse Landlord the amount of such undercharge. Tenant agrees to pay the cost of such audit, provided that, if the audit reveals that Landlord's determination of Tenant's share of Actual Costs was in error in Landlord's favor by more than five percent (5%), Landlord shall pay the costs of such audit. Landlord shall maintain records of all Operating Costs for the entirety of the two-year period ("Review Period") following Landlord's delivery to Tenant of each Statement setting forth Tenant's
Lease Years. During the first five (5) Lease Years, Tenant shall not be obligated to pay any portion of the Tax Increase.
