Examples of Fee Commencement Date in a sentence
As soon as practicable following the Fee Commencement Date, upon request of either Party, Owner and Operator shall promptly and in good faith execute and deliver to one another a memorandum setting forth (a) the Fee Commencement Date; and (b) the Initial Expiration Date, provided that the failure to do so shall not affect the enforceability of this Agreement.
Prior to the Fee Commencement Date, Owner shall cause the Project land to be legally subdivided so that the Venue land becomes a legal and tax parcel, separate from any other portion of the Project.
Beginning on the Fee Commencement Date, “Operating Fees” payable to Owner by Operator related to Operator’s rights hereunder consist of the Base Fee and the Owner Revenue Share (defined below).
The initial term of this Agreement (the “Initial Term”) shall be for a period commencing on the delivery of the Premises by Owner in compliance with its obligations set forth under Owner’s Work (the “Commencement Date”) and shall expire at 11:59 PM local time on the calendar day immediately preceding the [***]full Year after the Fee Commencement Date (the “Initial Expiration Date” as such date may be automatically extended by the length of any Renewal Periods that are exercised, the “Expiration Date”)).
In the event that the Fee Commencement Date is in June or later for any reason, the Parties agree that first Year will begin the following year and the partial initial year shall not count towards the [***]Years of the Initial Term.