EXPIRING GROUND RENT means the aggregate base Ground Rent payable during the last term of the expiring Ground Lease for which renewal is being sought.
Second Extension Period means a period of twelve (12) consecutive months following the First Extended Maturity Date.
First Extension Period means a period of twelve (12) consecutive months following the Initial Maturity Date.
Extension Term means the time period defined in §2.C.
Extended Term shall have the meaning set forth in Section 2.
Minimum Rent means Forty-Four Million Four Hundred Eleven Thousand Six Hundred Eighteen and 00/100ths Dollars ($44,411,618.00), subject to adjustment as provided in Section 3.1.1(b).
Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.
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.
Consent Period has the meaning set forth in Section 3.05(d)(ii).
Base Term Commencing (i) with respect to the Existing Premises on the Commencement Date, (ii) with respect to the Expansion Premises on the Expansion Premises Commencement Date and (iii) with respect to the Second Expansion Premises on the Second Expansion Premises Commencement Date, and ending with respect to the entire Premises on September 16, 2016 (“Expiration Date”).”
Extension Option shall have the meaning set forth in Section 2.5(c) hereof.
Property tax increment means the amount obtained by:
Estimated Incremental Quarterly Tax Amount has the meaning assigned to such term in Section 6.9.
Loan Commencement Date means, with respect to each Growth Capital Loan: (a) the first day of the first full calendar month following the Borrowing Date of such Loan if such Borrowing Date is not the first day of a month; or (b) the same day as the Borrowing Date if the Borrowing Date is the first day of a month.
Extended Term Loan shall have the meaning assigned to such term in Section 2.21(e).
First Extension Option shall have the meaning set forth in Section 2.6.1 hereof.
Automatic Renewal Term has the meaning set forth in Section 10(a) hereof.
Loan Year means each period of twelve (12) consecutive months commencing on the Closing Date and on each anniversary thereof.
Second Draw Period is the period commencing on the date occurring on or after the Second Amendment Effective Date in which Borrower satisfies the Second Draw Conditions and ending on the earlier of (a) June 20, 2021, and (b) the occurrence of an Event of Default.
Second Extension Option shall have the meaning set forth in Section 2.2.1(b) hereof.
Second Extended Maturity Date has the meaning set forth in Section 2.10.
Loan Period means with respect to any LIBOR Rate Loan, the period commencing on such LIBOR Rate Loan’s Funding Date, the date of the Conversion of any Base Rate Loan into such LIBOR Rate Loan or the date of the Continuation of such LIBOR Rate Loan for a new Loan Period and ending one week or one, two, three or six months thereafter as selected by the Borrower pursuant to Section 2.2(a); provided, however, that:
Renewal Term has the meaning set forth in Section 2.
Rental Period means the calendar period during which Government property is made available for nongovernmental purposes.
Initial Term Facility means the Initial Term Loan Commitments and the Initial Term Loans made hereunder.
Term Year means a 12-month period beginning on the first day of the Term and each successive 12-month period thereafter.