Date of Beneficial Occupancy definition

Date of Beneficial Occupancy means the date when a project or a phased element of a project has been completed and the Director determines that it is available for use by Air Carriers.

Date of Beneficial Occupancy or “DBO” means the earlier of (a) the date on which the Commission certifies that a portion of the Premises or a Capital Project, as applicable, are available for beneficial use or (b) the date on which beneficial use is first made of such portion of the Premises or such Capital Project, as applicable; provided, however, that with respect to land and other non-depreciable assets, the date on which beneficial occupancy occurs is the date of the closing.

Date of Beneficial Occupancy means, with regard to any terminal facility, the date on which an air transportation company occupies such facility for the operation of its Air Transportation business.

Examples of Date of Beneficial Occupancy in a sentence

• The Lease Term shall not commence until the Date of Beneficial Occupancy.

• Commencing with the Date of Beneficial Occupancy and for the remainder of the Term and any extension period, Licensee shall pay to the City the License Fees due for each month no later than the last day of the next following month.

• The Term of this Agreement shall commence on the Date of Beneficial Occupancy (DBO), and expire on the last day of the month twenty-five (25) years beyond the DBO.

• Except as expressly provided otherwise in Article IB.1., Lessee shall have full authority to use the premises and facilities and to exercise the rights, licenses and privileges set forth in Article I hereof for a term beginning on the Date of Beneficial Occupancy of the Midfield Terminal and ending on the last day of the Fiscal Year that is 30 years after the Fiscal Year in which the Date of Beneficial Occupancy of the Midfield Terminal occurs.

• Effective as of the Date of Beneficial Occupancy, Virgin will have access to all Common Facilities for all purposes reasonably associated with the uses described in Paragraph 4.1.5 and consistent with Paragraph 4.2.2 of this Lease.

More Definitions of Date of Beneficial Occupancy

Date of Beneficial Occupancy or “DBO” shall mean: (1) that date upon which CONTRACTOR completes improvements and/or installations and commences operations, or (2) ninety (90) days from the commencement of work, whichever comes first.

Date of Beneficial Occupancy has the meaning set forth in Section 3.01.

Date of Beneficial Occupancy or “DBO” means, as to each Retail Space, the later to occur of:

Date of Beneficial Occupancy or “DBO” shall mean (i) with respect to any Partial Occupancy Portion or Installation Portion, the effective date of the applicable “Temporary Certificate of Authorization to Occupy or Use” issued by the Port Authority with respect to such Partial Occupancy Portion or Installation Portion, and (ii) with respect to the entirety of the New Terminal Facilities and the Off-Premises Facilities, the Completion Date.

Date of Beneficial Occupancy shall have the meaning given such term in Section 4.5 hereof.

Date of Beneficial Occupancy or “DBO” shall mean that date upon which a Capital Improvement is so substantially complete that it is operationally available to user and public without hazard or undue inconvenience, but in no event later than thirty (30) days after AVIATION notifies user that the Capital Improvement has been certified by the project architect/engineer as available for public use and/or user occupancy, including any Temporary Certificate of Occupancy (TCO) that may be issued by an authorized agency.

Date of Beneficial Occupancy shall each mean the date of the issuance of a certificate issued by the Port Authority pursuant to Paragraph 8(aa) or 8(bb), as applicable, of this Third Supplement covering the completion of that part of the T5i Project-Phase I which relates to the construction of an international arrivals hall with a Federal Inspections Service (FIS) facility such that the international arrivals hall and FIS facility are sufficiently completed so as to allow the use and occupancy thereof.