TERM OF THE SUBLEASE. A. The terms and conditions of this Sublease shall become effective upon the Effective Date. The term of this Sublease for the purposes of District's obligation to make Sublease Payments shall commence on the earlier of the following two (2) events ("Commencement Date") and shall terminate six (6) months after the Commencement Date (the "Term"):
1. The date the District takes beneficial occupancy of the Project; or
2. The date of Project Completion, as defined in Section 12 of this Sublease.
B. On the Commencement Date, the parties shall execute the Memorandum of Commencement attached hereto as Exhibit "D" to memorialize the commencement and expiration dates of the Term. Notwithstanding this Term, the parties hereby acknowledge that each has obligations, duties, and rights under this Sublease that exist upon the Effective Date and prior to the beginning of the Term.
TERM OF THE SUBLEASE. A. The Term of this Sublease shall become effective upon the authorized execution of this Sublease and issuance of a Notice to Proceed under the terms of the CSA and payment of the last Sublease Payment, unless otherwise terminated pursuant to this Sublease, the Site Lease, or the CSA.
TERM OF THE SUBLEASE. The terms and conditions of this Sublease shall become effective upon the Effective Date. The term of the Sublease commences on the Effective Date, and terminates months following the Effective Date, unless sooner terminated as hereinafter provided. If on the scheduled date of termination of this Sublease the Sublease Payments shall not be fully paid, or provision therefor made, or if such Sublease Payments shall have been abated at any time and for any reason, then the term of this Sublease shall be extended until the date upon which all such Sublease Payments shall be fully paid.
TERM OF THE SUBLEASE. 6.1 It is hereby agreed that the Tenant hereby leases the Tenancy from the Landlord, as of the Transfer of Possession Date and for a period of forty-eight (48) months thereafter until the 30th of April, 2022 (hereinafter: the “Term of the Lease”).
6.2 Notwithstanding the provisions of this section, it is hereby agreed by the parties that the Tenant will be given the option(s) to extend twice the Term of the Sublease in the Tenancy by an additional term of 24 months each time (subject to the remaining term of the lease under the Head Tenancy Agreement), which will commence on 1st of May, 2022, and on the 1st of May, 2024, as the case might be, and end on 30th of April, 2014 or 30th of April, 2026, respectively (hereinafter: the “Additional Sublease Term(s)”), all subject to the terms set forth below:
6.2.1 The Landlord will continue to lease the Tenancy as stated in the Head Tenancy Agreement.
6.2.2 The Tenant has fulfilled all of its obligations in this Agreement, in full and on time.
6.2.3 The Tenant will notify the Landlord in an unconditional and unqualified, irrevocable written notice that will be provided to and received by the Landlord 120 days or more before the end of the Term of the Sublease of the Tenant’s desire to extend the Term of the Sublease. If no notice is received up to 120 days before, the tenant will be deemed to have requested to terminate the contract during the original Term of the Sublease period.
6.2.4 The Tenant has provided the Landlord with certification of the extension of the insurance policy, by and as a condition for the commencement of the Additional Term, in accordance with the specifications given by the Landlord’s insurance counsel (but, in order to avoid all doubt, intended to be substantially equivalent to the insurance requirements of the Head Tenancy agreement or the Management company Agreement), as well as certification of the validity of the bank guarantee in the form attached as Annex F.
6.2.5 All of the provisions of this Agreement, except as expressly changed, will apply during the Additional Term, if applicable, mutatis mutandis.
6.3 The duration of the Term of the Sublease is one of the main principles of this Agreement. The Tenant may not shorten the Term of the Sublease and/or vacate the Tenancy before the end of the Term of the Sublease. The aforesaid will not derogate from the rights of the Landlord under this Agreement and/or under law to instruct the Tenant to vacate the Tenancy at the end of the Term ...
TERM OF THE SUBLEASE. Six (6) month term and thereafter month-to-month tenancy with the right to cancel by either party with thirty (30) days notice after July 15, 1998.
TERM OF THE SUBLEASE. A. The Term of this Sublease shall become effective upon the authorized execution of this Sublease and issuance of a Notice to Proceed under the terms of the Construction Services Agreement and shall continue for six (6) months from the date of Final Completion of the improvements.
TERM OF THE SUBLEASE. A. The terms and conditions of this Sublease shall become effective upon the Effective Date. The term of the Sublease shall terminate upon the completion of the Project and payment of the last Sublease Payment, unless sooner terminated as hereinafter provided.
TERM OF THE SUBLEASE. Effective on Effective Date, the Term of the Sublease is hereby extended to October 3, 2006. As used herein, "Extension Term" means the period from and including October 4, 2001 through and including October 3, 2006.
TERM OF THE SUBLEASE. THE TERM OF THE SUBLEASE SHALL BE OF FIVE (5) YEARS, FOR BOTH PARTIES, AND SHALL START TO BE IN FORCE AND BIND THE PARTIES AS FROM DECEMBER 1ST, 2004. IF, FOR ANY REASON, THE “SUBLESSOR” DECIDES TO TERMINATE THE PRESENT AGREEMENT BEFORE ITS COMPLETION DATE, WRITTEN NOTIFICATION OF THIRTY CALENDAR DAYS NOTICE TO THE “SUBLESSEE” SHALL SUFFICE.
TERM OF THE SUBLEASE. The Term of this Sublease shall become effective upon the latter date that both of the following occur: authorized execution of this Sublease; and, issuance of a Notice to Proceed in accordance with the Construction Services Agreement. .
