Actual Commencement Date definition
Examples of Actual Commencement Date in a sentence
If the Premises are not ready for occupancy by Tenant on the Commencement Date, the number of months of the Lease Term will remain as stated in the Basic Lease Information, and the Lease Term will commence on the Actual Commencement Date.
Landlord may require Tenant to provide Landlord with a copy of the policy or policies evidencing Tenant's Insurance Coverages and Tenant shall provide Landlord (prior to the Actual Commencement Date) with a certificate whereby the insurance carrier agrees not to cancel or fail to renew its coverage unless at least 15 days advance Notice is provided to Landlord.
In the case of any such delay, the Actual Commencement Date shall be the Initial Commencement Date extended to the date on which Landlord tenders possession of the Leased Premises to Tenant, in substantially the condition promised to Tenant (for example - as-is & broom clean and/or with substantial completion of Landlord's Initial Fit-Out Work - as may be set forth in other provisions of this Lease regarding the condition of the Leased Premises upon delivery to Tenant).
If the Initial or Actual Commencement Date or any other date on which any obligation or event in this Lease is dependent is not a date certain, the Commencement Date shall in no event be later than a time which would not violate any applicable rule against perpetuities, determined as if all relevant lives in being ceased as of the date of execution of this Lease.
Within one hundred eighty (180) days after the Actual Commencement Date, 4MC shall notify TVN of 4MC's actual Equipment Expenditures, which notice shall be accompanied by reasonably detailed written evidence of such expenditures by 4MC.
For the period commencing August 1, 1999 until the Actual Commencement Date or November 1, 1999, whichever occurs earlier, the Reduced Interim Monthly Fee shall increase to Three Hundred Seventy-Five Thousand Dollars ($375,000) per month, pro rated for any partial month.
TVN's failure to respond in writing to the Second Commencement Notice within six (6) business days after receipt thereof shall be deemed TVN's confirmation of 4MC's compliance with subsections (a), (b) and (c) of Section 5.1 and, in such event, the Actual Commencement Date will be six (6) business days after TVN's receipt of the Second Commencement Notice.
The Monthly Base Fee shall be decreased accordingly, effective as of the Actual Commencement Date (i.e. all amounts that have been paid in excess of such decreased amount prior to the effectiveness of the foregoing calculation (the "Capital Credit") shall be deducted from the next adjusted Monthly Base Fee to be paid hereunder and any subsequent adjusted Monthly Base Fees as required to reduce the Capital Credit to zero).
The Leased Premises shall be delivered to Tenant on the Actual Commencement Date in as-is condition, broom clean and free of all personal property of others, except that Landlord will perform any work set forth in Exhibit C, attached hereto, as Landlord's Initial Fit-Out Work.
TVN shall be entitled to terminate this Agreement in the event of a Continuous Service Failure caused by the failure of such digital server system, if such Continuous Service Failure occurs at any time after the Actual Commencement Date, subject to the terms of the prior sentence.