Firm Term definition

Firm Term means the part of the lease term that is not subject to termination rights.
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Examples of Firm Term in a sentence

  • The Firm Term is that part of the Lease term that is not subject to termination rights.

  • The Non-Firm Term is that part of the Lease term following the end of the Firm Term.

  • The term "operational cost savings" means a reduction in operational costs to the landlord through the application of Building improvements that achieve cost savings over the Firm Term of the Lease sufficient to pay the incremental additional costs of making the Building improvements.

  • If the Offeror chooses to amortize the TI for a period exceeding the Firm Term of the Lease, the Offeror shall indicate the extended time in the offer.

  • If the Government terminates the Lease after the Firm Term or does not otherwise renew or extend the term beyond the Firm Term, the Government shall not be liable for any unamortized TI costs resulting from an extended amortization period.

  • The rate proposed for this portion of the term shall not reflect any TIs or BSAC as they will have been fully amortized over the Firm Term.

  • A shell rate per ABOA and RSF for that portion of the lease term extending beyond the Firm Term.

  • If the Government elects to make a lump sum payment for the TIA after occupancy, the payment of the TIA by the Government will result in a decrease in the rent according to the amortization rate over the Firm Term of the Lease.

  • At any time after occupancy and during the Firm Term of the Lease, the Government, at its sole discretion, may elect to pay lump sum for any part or all of the remaining unpaid amortized balance of the TIA.

  • At any time after occupancy and during the Firm Term of the Lease, the Government, at its sole discretion, may elect to pay lump sum for any part or all of the remaining unpaid amortized balance of the TI.

Related to Firm Term

  • Initial Term has the meaning set forth in Section 7.1.

  • Minimum Term means, in respect of this Agreement, the period of 12 months beginning on the Effective Date;

  • Contract Term means period of performance set forth in the paragraph entitled “Term” contained in Exhibit E.

  • Delivery Term has the meaning set forth in Section 1.1(b).

  • Renewal Term has the meaning set forth in Section 2.

  • Agreement Term has the meaning set forth in Section 11.1.

  • Program Period means the period of time which the department intends to support the program without requiring the recompetition for funds. The program period is specified within the grant application.

  • Transition Period means the period beginning with the Registration Date and ending as of the earlier of: (i) the date of the first annual meeting of stockholders of the Company at which directors are to be elected that occurs after the close of the third calendar year following the calendar year in which the Registration Date occurs; and (ii) the expiration of the “reliance period” under Treasury Regulation Section 1.162-27(f)(2).