New Premises Term Clause Samples
New Premises Term. The term of Tenant's lease of the New Premises shall commence on the date (the "New Premises Commencement Date") which is the earliest to occur of (a) January 1, 2015, (b) the date upon which the improvements to the New Premises are "Substantially Complete" (as defined in Section 7.2 below), or (c) the date upon which Tenant first commences to conduct business in the New Premises. Landlord and Tenant acknowledge that the Lease Term for the Original Premises is scheduled to expire on January 31, 2018, pursuant to the terms of the Lease. Notwithstanding anything to the contrary set forth in the Lease, the Lease Term for the New Premises shall expire on (i) the day immediately preceding the fifth (5th) anniversary of the New Premises Commencement Date, if the New Premises Commencement Date falls on the first day of a calendar month, or (ii) the last day of the month in which the fifth (5th) anniversary of the New Premises Commencement Date occurs, if the New Premises Commencement Date falls on any day other than the first day of a calendar month, unless sooner terminated as provided in the Original Lease, as amended by this First Amendment (the “New Premises Lease Expiration Date”). The period of time beginning on the New Premises Commencement Date and ending on the New Premises Lease Expiration Date shall be referred to herein as the “New Premises Term.” Consequently, effective upon the New Premises Commencement Date, all references in the Lease to the “Lease Term” shall mean and refer to the New Premises Term.
New Premises Term. As of the Effective Date, Section 4 of the First Amendment shall be deleted in its entirety and replaced with the following:
New Premises Term. As used herein, the term “New Premises Commencement Date” shall mean the earlier of (i) Lessee’s occupancy of the New Premises for the conduct of business therein or (ii) November 1, 2008, provided that Lessor has delivered possession of the New Premises to Lessee by such date. The term of the Lease with respect to the New Premises shall commence on the New Premises Commencement Date and expire on November 30, 2015(the “New Premises Expiration Date”), unless sooner terminated as provided for in the Lease. The period from the New Premises Commencement Date through the New Premises Expiration Date shall be referred to herein as the “New Premises Term”.
New Premises Term. The Term with respect to the New Premises (as the same may be extended or earlier terminated in accordance with the Lease) shall commence on the New Premises Commencement Date and shall expire on the Term Expiration Date (as modified pursuant to Article 2 above).