Demised Term definition

Demised Term is hereinafter used in this Lease to refer to the Original Term and the exercised Extension Terms.
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Demised Term. As defined in Section 1.02.
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Demised Term means a period of sixty-six (66) years, commencing on the Effective Date, and originally expiring on June 30, 2023, and, as extended by this Agreement, expiring at 11:59 p.m. on June 30, 2064.
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Examples of Demised Term in a sentence

  • The provisions of the foregoing sentence shall survive the expiration or any sooner termination of the Demised Term.

  • Tenant's obligations under this Article shall survive the expiration or sooner termination of the Demised Term.

  • No option granted to Tenant to renew or extend the Demised Term shall be deemed to give Tenant any further option to renew or extend.

  • Any termination of this Lease and the Demised Term shall serve to terminate any such renewal or extension of the Demised Term and any right of Tenant to any such renewal or extension, whether or not Tenant shall have exercised any such option to renew or extend the Demised Term.

  • Any such option or right on the part of Owner to terminate this Lease shall continue during any extension or renewal of the Demised Term.

  • Tenant's obligations under this Section shall survive the expiration or sooner termination of the Demised Term.

  • In such event, if Tenant agrees, in writing, to reimburse Owner for such additional premium for the remainder of the Demised Term, Owner shall require the inclusion of such or similar provisions by Owner's fire insurance carriers.

  • In the event of any such acquisition or condemnation of all or any part of the Real Property, Owner shall be entitled to receive the entire award for any such acquisition or condemnation, Tenant shall have no claim against Owner or the condemning authority for the value of any unexpired portion of the Demised Term and Tenant hereby expressly assigns to Owner all of its right in and to any such award.

  • No act or thing done by Owner or Owner's agents during the Demised Term shall constitute a valid acceptance of a surrender of the Demised Premises or any remaining portion of the Demised Term except a written instrument accepting such surrender, executed by Owner.

  • If said date upon which the Demised Term shall expire and come to an end shall fall on a Sunday or holiday, then Tenant's obligations under the first sentence of this Section shall be performed on or prior to the Saturday or business day immediately preceding such Sunday or holiday.


More Definitions of Demised Term

Demised Term and "Fixed Rent" shall be deemed to mean "Sublease Commencement Date", "Sublease Expiration Date", "Subleased Premises", "Subleased Term", and "Subleased Fixed Rent", respectively.
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Demised Term. As used herein, the term "Interim Term" shall mean a period which commences on the date Lessor shall acquire the Demised Premises through payment of the purchase price and acceptance of delivery of a deed therefor and continues until, but not including, the first day of the first month thereafter, provided, however, that if such date of acquisition shall be the first day of a month there shall be no Interim Term. As used herein, the term "Initial Term" shall mean period which commences on the first day after the Interim Term or, if there is no Interim Term, on the date hereof and, for purposes of the Three Party Lease Agreement among Lessor, Lessee and Fleet National Bank (the "Bank") of even date herewith, continues until the earlier to occur of (i) the fifteenth anniversary of the date hereof or (ii) the date of the Lessor's payment in full to the Bank of all amounts owing to the Bank under that certain Amended and Restated Loan 11 Agreement dated as of October 27, 1995, as amended by that certain First Amendment to Amended and Restated Loan Agreement dated as of April 4, 1997, and as further amended, restated or supplemented from time to time (the "Loan Agreement") and the promissory notes to which such Loan Agreement relates, except for those obligations of the Lessee and Lessor and provisions of this Lease which by their express terms survive repayment of such amounts, and provided, however, that the obligations and liabilities of Lessee and Lessor under this Lease shall be reinstated with full force and effect if at any time on or after such repayment date all or any portion of the repayment amounts paid to the Bank is voided or rescinded or must otherwise be returned by the Bank to the Lessor upon the Lessor's insolvency, bankruptcy or reorganization or otherwise, all as though such repayment had not been made.
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Related to Demised Term

  • Lease Term means the term of this Lease which shall commence on the Commencement Date and continue for the period specified in Section J of the Summary.

  • Leased Premises means the Leased Premises as defined in Paragraph 1.

  • Demised Premises or “Premises” (and whether or not capitalized) is used herein, it shall be understood to mean the “premises leased hereby”; and whenever the term “Entire Premises” is used herein (and whether or not capitalized), it shall be understood to mean all of the contiguous land and buildings owned by Landlord at this location, which include the premises leased hereby. The term “Non-leased Premises” shall mean the Entire Premises less the Leased Premises.

  • Subleased Premises means all that portion of the Leased Premises referred to as airport lot as outlined on the site diagram attached as Schedule "A" to this Sublease; and

  • the Premises means the building or part of the building booked and referred to in the contract

  • Base Term Commencing (i) with respect to the Original Premises on the Commencement Date, and (ii) with respect to the Expansion Premises on the Expansion Premises Commencement Date, and ending with respect to the entire Premises on September 15, 2016 (“Expiration Date”).”

  • Leased space means a self−service storage unit or a space located within a self−service storage facility that a lessee is enti- tled to use for the storage of personal property on a self−service basis pursuant to a rental agreement and that is not rented or pro- vided to the lessee in conjunction with property for residential use by the lessee.

  • Rentable Area of the Premises The amount of square footage set forth in Section 1.01(10).

  • this Lease means the relevant portion of Articles 1 through 29 of this Office Lease to which this Tenant Work Letter is attached as EXHIBIT B and of which this Tenant Work Letter forms a part, and all references in this Tenant Work Letter to sections of "this Tenant Work Letter" shall mean the relevant portion of Sections 1 through 7 of this Tenant Work Letter.

  • School premises means either of the following:

  • Customer’s Premises means the land and buildings owned or occupied by a Customer, and any land over which the Customer has an easement or right to pass electricity, including:

  • Premises means the location where the Services are to be supplied, as set out in the Specification.

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • Expansion Space means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.

  • Tenant means a person entitled under a rental agreement to occupy a dwelling unit to the exclusion of others.

  • Rentable Area of Premises on Page 1 of the Lease shall be deleted in their entirety and replaced with the following:

  • Base Rent Period Annual Rate Per Square Foot Monthly Base Rent

  • Initial Rent means [ ] (£[ ]) STERLING yearly (exclusive of any VAT);

  • Place or premises means the real estate, together with any buildings or other improvements thereon,

  • this Tenant Work Letter means the relevant portion of Sections 1 through 6 of this Tenant Work Letter.

  • Public premises means any hotel, restaurant, tavern, store, arena, hall, or other place of public accommodation, business, amusement, or resort.

  • Premises Building Total Destruction means if the Building of which the Premises are a part is damaged or destroyed to the extent that the cost to repair is fifty percent (50%) or more of the then Replacement Cost of the Building.

  • residential premises means a house, building, structure, shelter, or mobile home, or portion thereof, used as a dwelling, home, residence, or living place by 1 or more human beings. “Residential premises” includes an apartment unit, a boardinghouse, a rooming house, a mobile home, a mobile home space, and a single or multiple family dwelling, but does not include a hotel, a motel, motor home, or other tourist accommodation, when used as a temporary accommodation for guests or tourists, or premises used as the principal place of residence of the owner and rented occasionally during temporary absences including vacation or sabbatical leave.

  • The Building means any building of which the Property forms part.

  • Sublease means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease.

  • Tenant Work All work installed or furnished to the Premises by Tenant in connection with Tenant’s initial occupancy pursuant to Rider 2 and the Workletter.