Extension Term Commencement Date definition
Examples of Extension Term Commencement Date in a sentence
For greater clarity, after the First Measurement, Rent will be adjusted, and calculated retroactive to the Extension Term Commencement Date, and after the Second Measurement, Rent will be adjusted and calculated retroactive, to the date of the Landlord’s commencement of its work on the Surrender Area to create an entrance lobby and an elevator lobby to convert the Building to a multi-tenant building (the “Building Conversion Work”).
Proposed New Premises shall be measured in accordance with the BOMA Standard within thirty (30) days of the Extension Term Commencement Date (the “First Measurement”).
The Extension Term shall commence on the day following the Expiration Date (the "Extension Term Commencement Date") and shall expire on the day preceding the fifth (5th) anniversary of the Fixed Expiration Date (the "Extension Term Expiration Date").
The monthly rental rate shall be increased on each annual anniversary of the Extension Term Commencement Date by three percent (3%).
Tenant agrees that because Tenant is currently occupying the Reduced Premises and will continue to occupy the Reduced Premises as of the Extension Term Commencement Date that Landlord (its agents, employees and contractors) shall have the right to enter the Reduced Premises to allow Landlord to perform certain construction and remodeling work in connection with the construction of the Finish Work.
The amounts in Subsection 6.2(b)(i) and (ii) shall be calculated by amortizing the same at eight percent (8%) per annum commencing on the Extension Term Commencement Date and ending on the Term Expiration Date).
From and after the Extension Term Commencement Date, the term “Premises,” when used in reference to the Extension Term, shall mean the Original Premises plus the Additional Premises.
The Term of the Lease is hereby extended for an additional term of thirteen (13) months commencing on December 1, 2024 (the "Extension Term Commencement Date") and expiring on December 31, 2025 (which shall be the new "Term Expiration Date").
From and after the Extension Term Commencement Date, the Base Rent in the amounts set forth below shall be payable to Landlord in accordance with the provisions of the Lease.
The principal amount of the Rent Abatement for the Rent Abatement Period shall be amortized (using a mortgage amortization) over the period beginning on the First Extension Term Commencement Date and ending on the First Extension Termination Date with interest at eight percent (8%) per annum.