Term; Commencement Date; Certain Conditions Sample Clauses

Term; Commencement Date; Certain Conditions. (a) The initial term of the Lease (the “Initial Term”) shall be for a period commencing at 12:01 a.m. on the 1st day of January, 2007 (the “Commencement Date”). This Lease shall remain in effect for a period of Ten (10) calendar years, expiring at midnight on the date that is Ten (10) calendar years from the Commencement Date. Tenant shall have the right to extend the term of this Lease for a period of five (5) years (“First Extension Term”) by written notice to Landlord, no later than January 1, 2016. The Base Rent for the first year of the First Extension Term shall be the amount of the non-discounted, annual base rent paid by Tenant in the tenth year of the Initial Term plus any increase as provided for in Section 3.2 of the Lease and escalating each year thereafter as provided in Article 3. Additional Rent shall be paid as provided for in Article 4. Thereafter, Tenant shall have the right to extend the term for an additional five (5) years (“Second Extension Term”), upon twelve (12) months written notice to Landlord. The Base Rent for the first year of the Second Extension Term shall be the amount of the non-discounted annual base rent paid by Tenant in the fifth year of the First Extension Term plus any increase as provided for in Section 3.2 and escalating each year thereafter as provided in Article 3. Additional Rent shall be paid as provided for in Article 4. Upon the expiration of the Initial Term and all Extension Terms (the “Term Expiration Date”), this Lease shall terminate as to the Facility.
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Term; Commencement Date; Certain Conditions. (a) The initial term of the Lease (the “Initial Term”) shall be for a period commencing at 12:01 a.m. on the earlier of (a) the date in which the Tenant Improvement Work (hereinafter defined) commences; or (b) the date in which the Building Shell has reached Substantial Completion (the “Commencement Date”). Anticipated start date for the Tenant Improvement Work is on or about March 1, 2008, but the actual start date for the Tenant Improvement Work shall be mutually agreed upon by the parties, in writing. This Lease shall remain in effect for a period of Ten (10) calendar years, expiring at midnight on the date that is Ten (10) calendar years from the Commencement Date. The “
Sample 1
Term; Commencement Date; Certain Conditions. (a) The initial term of the Lease (the "INITIAL TERM") shall be for a period commencing at 12:01 a.m. on the 1st day of the third month following the month in which "Substantial Completion" of the Building has occurred (the "COMMENCEMENT DATE"). This Lease shall remain in effect for a period of SEVEN (7) calendar years, expiring at midnight on the 1
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Related to Term; Commencement Date; Certain Conditions

  • Effective Date Conditions The effectiveness of the amendment and restatement of the Original Credit Agreement in the form of this Agreement is subject to the satisfaction of the following conditions precedent:

  • Term Commencement Date The term of this Agreement shall commence on , 2020 (the “Commencement Date”) and, unless earlier terminated in accordance with the terms of this Agreement, shall end on June 30, 2055 (the “Term”).

  • Effective Date Certificate The Administrative Agent shall have received, with counterparts for each Lender, the Effective Date Certificate, dated the Effective Date and duly executed and delivered by the chief executive officer, an Authorized Person or the Treasurer of Micro.

  • Commencement Date Delay Except as otherwise provided in the Lease, Delivery of the Premises shall occur when Landlord’s Work has been Substantially Completed, except to the extent that completion of Landlord’s Work shall have been actually delayed by any one or more of the following causes (“Tenant Delay”):

  • Request for Issuance, Amendment, Renewal, Extension; Certain Conditions To request the issuance of a Letter of Credit or the amendment, renewal or extension of an outstanding Letter of Credit, the Borrower shall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the applicable Issuing Bank) a LC Request to the applicable Issuing Bank and the Administrative Agent not later than 1:00 p.m. on the third Business Day preceding the requested date of issuance, amendment, renewal or extension (or such later date and time as is reasonably acceptable to the applicable Issuing Bank). A request for an initial issuance of a Letter of Credit shall specify in form and detail reasonably satisfactory to the applicable Issuing Bank: (i) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (ii) the amount thereof; (iii) the expiry date thereof; (iv) the name and address of the beneficiary thereof; (v) the documents to be presented by such beneficiary in case of any drawing thereunder; (vi) the full text of any certificate to be presented by such beneficiary in case of any drawing thereunder and (vii) such other matters as the applicable Issuing Bank may reasonably require. A request for an amendment, renewal or extension of any outstanding Letter of Credit shall specify in form and detail reasonably satisfactory to the applicable Issuing Bank (w) the Letter of Credit to be amended, renewed or extended; (x) the proposed date of amendment, renewal or extension thereof (which shall be a Business Day), (y) the nature of the proposed amendment, renewal or extension, and (z) such other matters as the applicable Issuing Bank may reasonably require. If requested by the applicable Issuing Bank, the Borrower also shall submit a letter of credit application substantially on the applicable Issuing Bank’s standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant (solely in the case of (w) and (x) that)), after giving effect to such issuance, amendment, renewal or extension (A) the aggregate LC Exposure shall not exceed $25,000,000, (B) the total Revolving Exposures shall not exceed the total Revolving Commitments, (C) the aggregate LC Exposure with respect to Letters of Credit issued by such Issuing Bank shall not exceed the LC Sublimit of such Issuing Bank, (D) the Revolving Exposure of such Issuing Bank does not exceed its Revolving Commitments and (E) if a Defaulting Lender exists, either such Revolving Lender or the Borrower has entered into arrangements satisfactory to the Administrative Agent and the Issuing Banks to eliminate any Fronting Exposure associated with such Lender.

  • Conditions Precedent/Effectiveness Conditions This Amendment shall be effective upon (the “Effective Date”) the satisfaction of each of the following conditions (all documents to be in form and substance reasonably satisfactory to Administrative Agent and Administrative Agent’s counsel):

  • Effectiveness; Conditions Precedent The effectiveness of this Amendment and the amendments to the Credit Agreement herein provided are subject to the satisfaction of the following conditions precedent:

  • Conditions Precedent to the Effective Date The occurrence of the Effective Date pursuant to Section 13.10 is subject to the satisfaction of the following conditions:

  • Conditions Precedent to Effective Date This Agreement shall become effective on the date (such date, the “Effective Date”) when each of the following conditions is satisfied (or waived) in accordance with the terms herein:

  • Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions To request the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter of Credit), the Borrower shall hand deliver or telecopy (or transmit by electronic communication, if arrangements for doing so have been approved by the Issuing Bank) to the Issuing Bank and the Administrative Agent (reasonably in advance of the requested date of issuance, amendment, renewal or extension) a notice requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount of such Letter of Credit, the name and address of the beneficiary thereof and such other information as shall be necessary to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank, the Borrower also shall submit a letter of credit application on the Issuing Bank's standard form in connection with any request for a Letter of Credit. A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the LC Exposure shall not exceed $15,000,000 and (ii) the total Revolving Exposures shall not exceed the total Revolving Commitments.

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