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 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.

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.

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.
Tenant's obligations under this Section shall survive the expiration or sooner termination of 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.
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 the whole of the Demised Premises shall be acquired for any public or quasi-public use or purpose, whether by condemnation or by deed in lieu of condemnation, this Lease and the Demised Term shall end as of the date of the vesting of title with the same effect as if said date were the Expiration Date.

More Definitions of Demised Term

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.

Demised Term. As defined in Section 1.02.