The Preliminary Term Clause Samples

The Preliminary Term. The “Preliminary Term” of this Lease shall commence on the date of execution of this Lease and shall terminate on the date when its license to conduct riverboat gaming operations (the “License”) is issued to Tenant pursuant to the Gambling Law. During the Preliminary Term, Tenant shall be entitled to rent-free occupancy of the Land for the purpose of preparing the same (including without limitation excavation, grading, leveling and other site work) for the construction of the improvements necessary for the use of the Land as a site for docking, loading and unloading the Riverboat. If for any reason whatsoever Tenant fails to receive the License on or before November 24, 1995. Tenant shall restore the Land to the condition existing on the date hereof if so directed by the City. All provisions of this Lease other than the payment of rent shall be applicable during the Preliminary Term.