First Lease Period definition

First Lease Period means the period commencing upon the Execution Date and ending on the last day of the eighteenth (18th) complete Month following the Commencement Date, and each succeeding twelve (12) Month period thereafter shall be referred to herein as a “Lease Period.” The amount of the Letter of Credit required for the First Lease Period shall be ONE MILLION EIGHT HUNDRED THOUSAND DOLLARS ($1,800,000.00), and the amount of the Letter of Credit required under this Lease for each succeeding Lease Period shall be the amount set forth on the following schedule; provided, however, that upon the expiration of any Lease Period the amount of the Letter of Credit applicable under this Lease shall not be reduced to the amount applicable to the succeeding Lease Period if this Lease is not then in full force and effect or if a Draw Event has occurred: First Lease Period: $ 1,800,000 Second Lease Period: $ 1,502,000 Third Lease Period: $ 1,195,000 Fourth Lease Period: $ 879,000 Fifth Lease Period: $ 553,000 Sixth Lease Period: $ 218,000 The remaining Term of the Lease: $ 100,000 If Tenant is entitled to reduce the amount of the Letter of Credit pursuant to the provisions above, then upon Tenant’s written request to Landlord, Landlord agrees that it will within five (5) business days of Tenant’s request notify in writing the issuer of the Letter of Credit that the Letter of Credit may be reduced in the amount of the reduction so authorized. Such reduction shall occur by means of delivery by Tenant and acceptance by Landlord of an amendment to the Letter of Credit (which amendment shall be subject to Landlord’s reasonable approval) reducing the amount thereof as directed by Landlord, or, at Tenant’s option, a substitute Letter of Credit in such reduced amount, in which latter event, the Letter of Credit then being held by Landlord will be returned to Tenant.
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First Lease Period means, in relation to the Forward Lease, the period commencing on (and including) the Commencement Date and ending on the first Rental Payment Date.
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First Lease Period means the period comprising of (i) the days remaining in the Commencement Month; and (ii) 5/11 month period commencing from the first calendar day immediately following the last calendar day of the Commencement Month; and the First Lease Period shall end on the last calendar day of such fifth/eleventh month, with the effect that the First Lease Period shall comprise of the number of days remaining in the Commencement Month and five/eleven months from thereon.
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Examples of First Lease Period in a sentence

  • Five years following the commencement of the First Lease Period, and so long as the Company has not notified the Lessor of its intention to terminate the Agreement prior to its expiration, the bank guarantee shall be lowered to NIS 8,000,000, index-linked.

  • The management fee payable under the Agreement is calculated according to COST plus 15% plus VAT, provided, for 60 months following the commencement of the First Lease Period, that such fee does not exceed NIS 22 per gross square meter.

  • Three and a half years following the commencement of the First Lease Period, and so long as the Company has not notified the Lessor of its intention to terminate the Agreement prior to its expiration, the bank guarantee shall be lowered to NIS 16,800,000, index-linked.

  • Any reference herein to the "Term of the Lease" shall mean both the First Lease Period and the Additional Lease Period, if any, as the case may be.

  • It is agreed by and between the parties that the First Lease Period shall automatically be extended for the Additional Lease Period, unless the Lessee shall have notified the Lessor, in an unconditional unrestricted notice that shall have been received by the Lessor at least 6 (six) months prior to the end of the First Lease Period, of its wish to discontinue the lease at the end of the First Lease Period.

  • It is further agreed that all of the provisions regarding payment of Rent in the First Lease Period shall also apply to the Rent in the Additional Lease Period, mutatis mutandis, and in particular, a real increase of 2% per annum, beyond the rise of the Index.

  • During the Second Lease Period, should it be exercised, the Lease Fees shall be equal to the Lease Fees in the last 3 months of lease in the First Lease Period with the addition of 6%, all with the addition of linkage differences and VAT as required by law.

  • It is clarified that during the First Lease Period, the Company shall be not required to pay for floor 3 between April 15, 2022 and February 28, 2023 (the “Third Floor Grace Period”).

  • Subject to the Fulfillment of All of the Obligations Thereof according to this agreement, the Lessee shall have the right, and the Lessor the obligation, to extend the lease period at the end of the First Lease Period for an additional five-year period (the "Additional Lease Period").


More Definitions of First Lease Period

First Lease Period means the first five years of the Master Hotel Lease and
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First Lease Period means the period commencing on and including the Commencement Date and ending on................... 1. 1.14. “Fixed Rental” means the fixed element of the Rental Payment payable by Customer to the Bank on each Rental Payment Date as set out in Appendix 3.
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First Lease Period means the period commencing on and including the Commencement Date and ending on ........................ 1. 1.9. “Fixed Rental” means the fixed element of the Rental Payment payable by Lessee to the Lessor on each Rental Payment Date as set out in Appendix 3. لك نيب ................................................ قفاوملا ................................ مويلا اذه يف دقعلا اذه مربأ .1 :نم بجومب ةمئاق ةيفرصم ةسسؤم وهو ،).ع .ع .م .ش( يملاسلإا زعلا كنب )1( يلي اميف هيلإ راشي( نامع ،طقسم ،753 ب ص وه هناونعو ،نامع ةنطلس نيناوق نم مهل لزانتملاو مهل لوحملاو هؤافلخ ريبعتلا اذه لمشي نأ ىلع )"رجؤملا"- ،). مسإ )2( )"رجأتسملا"( يلي اميف هيلإ راشي( نامع ةنلطس ب .ص وه هناونعو .هءافلخو هلبق نم مهل لزانتملاو مهل ىصوملاو هتثرو ريبعتلا اذه لمشي نأ ىلع )"نيفرطلا/نافرطلا" نيعمتجم امهيلإ راشيو "فرط" ب امهنم لك ىلإ راشي( .2 :تاريسفتلاو فيراعتلا .1 :فيراعتلا 1.1 .ةراجلإا تادنتسم عيمج يفو ةراجلإا دقع يف رجؤملا ينعي ”كنبلا“ 1.1.1 .نامع ةنطلس يف لمعلل اهباوبأ كونبلا هيف حتفت موي يأ ينعي ”لمع موي““ 2.1.1 .ةراجلإا تادنتسم عيمج يفو اذه ةراجلإا دقع يف رجأتسملا ينعي ”رجأتسملا“ 3.1.1 روكذم وه امك ةيراجيإ ةرتف لكل ةراجلإا لدعم ىلإ ريشي ”زعلا كنب ةراجإ لدعم“ 4.1.1 كنب ةطساوب ددحي يذلاو ،ةيراجيلإا ةرتفلا ديدجتل راعشإ رخآ وأ 1 قحلملا يف يزكرملا كنبلا ةطساوب نلعملا لدعملل ىلعلأا دحلا زواجتي لا امب يملاسلإا زعلا .ينامعلا ليمعلا هعفد يذلاو 4 قحلملا يف روكذملا ةرجلأا غلبم ينعت ”ةمدقملا ةرجلأا“ 5.1.1 .امدقم فيلكت وأ ةنامأ دنس وأ نامض قح وأ يزايح ريغ وأ يزايح نهر يأ ينعي ”تابلاطملا“ 6.1.1 .رثلأا سفن اهل ةيوست وأ ىرخأ تابلاطم يأ وأ .2 قحلملا يف ةنيبملا تلااحلا نم ةلاح لك ينعت ”للاخإ ةلاح“ 7.1.1 ةراجلإا دقع أدب ءدبلا خيرات اهنم أدبي يتلا ةرتفلا ينعت ”ىلولأا ةيراجيلإا ةرتفلا“ 8.1.1 يف رجؤملل رجأتسملا هددسي يذلا ةرجلأا نم تباثلا رصنعلا ينعت ”ةتباثلا ةرجلأا“ 9.1.1 .3 قحلملا يف نيبم وه امك ةرجلأا عفد خيرات لك
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Related to First Lease Period

  • Lease Period means each of the consecutive periods throughout the Basic Term and any Renewal Term ending on a Lease Period Date, the first such period commencing on and including the Delivery Date.

  • Lease Commencement Date has the meaning specified in Section 3.2 of the Master Lease.

  • Commencement Date of the Contract means the date of signing of the Contract between the Purchaser and the Contractor.

  • Collateral Release Period means each period commencing with the occurrence of a Collateral Release Event and continuing until the occurrence of the next Collateral Reinstatement Event, if any, immediately following such Collateral Release Event.

  • Second Extension Period means the period commencing on the date immediately following the First Extended Maturity Date and expiring on the Second Extended Maturity Date, as more fully set forth in Section 2.9 hereof.