Fractional Month definition

Fractional Month. Defined in Section 3.
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Fractional Month means (i) during the Third Period, the period commencing on February 8, 2012, and ending on February 29, 2012; and (ii) with respect to the Fourth Period, if the Expansion Commencement Date does not occur on the first day of a calendar month, then both of the following periods: (a) the period commencing on the first day of the month in which the Expansion Commencement Date occurs and ending on the day before the Expansion Commencement Date, and (b) the period commencing on the Expansion Commencement Date and ending on the last day of the calendar month in which the Expansion Commencement Date occurs. By way of example, if the Expansion Commencement Date occurs on June 15, 2013, then (i) the Fourth Period shall still commence on June 1, 2013, but the Fourth Period (including the Fractional Months comprised of June 1-14, 2013 and June 15-30, 2013) shall end on July 31, 2014, (ii) the Fifth Period shall commence on August 1, 2014 and end on July 31, 2015, (iii) the Sixth Period shall commence on August l, 2015 and end on July 31, 2016, (iv) the Seventh Period shall commence on August 1, 2016 and end on July 31, 2017, and (v) the Eighth Period shall commence on August 1, 2017 and end on May 31, 2018. The Base Rent applicable to the Third Period and the Fourth Period shall include the prorated amount applicable to any such Fractional Month, which prorated amount shall be due on the first day of the Fractional Month. Upon the request of either party after Substantial Completion (as defined in Section 17(f) with respect to the initial Improvements and Section 17(g) with respect to the Expansion Work (as defined in Section 17(g)), Landlord and Tenant shall promptly execute a letter in substantially the form of Exhibit F Notice of Lease Term Dates in order to confirm the Lease Commencement Date, Base Rent Commencement Date, Expansion Commencement Date, Expiration Date and the first and last days of the First Period, Second Period, Third Period, Fourth Period, Fifth Period, Sixth Period, Seventh Period, Eighth Period and any Fractional Month. ** If any Event of Default occurs under this Lease on or before the expiration of the Expansion Rent Abatement Period, the Base Rent abatement provided for during the Expansion Rent Abatement Period shall immediately terminate, and any portion of the $15,975.00 monthly Base Rent, which has then previously been abated with respect to the Expansion Premises, shall immediately become due and payable.”
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Fractional Month shall have-the meaning provided in Article II, Section 2.1(a).
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Examples of Fractional Month in a sentence

  • If the Base Rent Commencement Date shall fall on a day other than the first day of a calendar month, the Base Rent shall be apportioned pro rata on a per diem basis for the resulting Fractional Month (which pro rata payment shall be due and payable on the Base Rent Commencement Date).

  • The fractional month, if any, between the commencement of the Lease Term and the end of the month in which the Lease Term begins is hereinafter referred to as the "Fractional Month".

  • The Rent for the Fractional Month shall be apportioned on a per diem basis, calculated on the basis of a thirty-day month, and shall be payable on the commencement of the Lease Term.

  • The Fixed Rent for a Fractional Month (if any) shall be apportioned on a per Tenant shall reimburse Landlord for actual costs for repairs if Tenant refuses or neglects to repair as required.

  • Operating Expenses payable by Tenant for a Fractional Month, if applicable, will be apportioned prorata.

  • The Fixed Rent for a Fractional Month (if any) shall be apportioned on a per diem basis, calculated on the basis of a thirty (30)-day month, and shall be payable upon the commencement of the Term.

  • If the Lease Commencement Date falls on a day other than the first day of a calendar month, the Base Rent for the month in which the Abatement Period expires will be apportioned pro rata for the resulting Fractional Month.

  • The fractional month, if any, between the commencement of the Lease Term and the end of the month in which the Lease Term begins is called the "Fractional Month".

  • The Basic Rent for the Fractional Month, if any, shall be prorated and due and payable by Sublessee on the Commencement Date.

  • The Base Rent applicable to the Second Period shall include the prorated amount applicable to any such Fractional Month, which prorated amount shall be due on the first day of the Fractional Month.

Related to Fractional Month

  • Fractional Share means a fractional share in the ICAV issued in accordance with Section 12.5.

  • Fraction means, in respect of any Borrower as determined at any time, a fraction, the numerator of which shall be the Borrower Sublimit of such Borrower at such time, and the denominator of which shall be the sum of the Borrower Sublimits of all Borrowers at such time.

  • FTPS Unit means Units which are purchased through the Fund/SERV(R) trading system or on a manual basis through FTP Services LLC or for which FTP Services LLC is acting as FTPS Unit Servicing Agent.

  • Applicable Fraction means Applicable Fraction as defined in Section 42(c)(1)(B) of the IRC.

  • Prior Month Receipt Period With respect to each Distribution Date, the calendar month preceding the month in which such Distribution Date occurs.

  • Fractional Undivided Interest Means the fractional undivided interest in the Trust that is evidenced by a Certificate.

  • Class P Fraction Any Class I-P, Class II-P or Class III-P Fraction, as applicable.

  • Mid-Month Receipt Period With respect to each Distribution Date, the one month period beginning on the Determination Date (or, in the case of the first Distribution Date, from and including the Cut-Off-Date) occurring in the calendar month preceding the month in which such Distribution Date occurs and ending on the day preceding the Determination Date immediately preceding such Distribution Date.

  • Adjustment Fraction shall have the meaning set forth in Section 11(a)(i) hereof.

  • SPS AER Value means the Underlying Reference Value.

  • Exchange Value is the adjusted appraised value of the Property which takes into consideration various factors to balance the business value of the Property within its present ownership structure.

  • Stock Value means an amount equal to (a) 25% multiplied by (b) (i) the Closing Purchase Price, minus (ii) the Financial Debt, minus (iii) the Transaction Expenses.

  • Fully Diluted Weighted Average Basis means, when calculating the number of Outstanding Units for any period, a basis that includes (a) the weighted average number of Outstanding Units during such period plus (b) all Partnership Interests and Derivative Partnership Interests (i) that are convertible into or exercisable or exchangeable for Units or for which Units are issuable, in each case that are senior to or pari passu with the Subordinated Units, (ii) whose conversion, exercise or exchange price, if any, is less than the Current Market Price on the date of such calculation, (iii) that may be converted into or exercised or exchanged for such Units prior to or during the Quarter immediately following the end of the period for which the calculation is being made without the satisfaction of any contingency beyond the control of the holder other than the payment of consideration and the compliance with administrative mechanics applicable to such conversion, exercise or exchange and (iv) that were not converted into or exercised or exchanged for such Units during the period for which the calculation is being made; provided, however, that for purposes of determining the number of Outstanding Units on a Fully Diluted Weighted Average Basis when calculating whether the Subordination Period has ended or Subordinated Units are entitled to convert into Common Units pursuant to Section 5.7, such Partnership Interests and Derivative Partnership Interests shall be deemed to have been Outstanding Units only for the four Quarters that comprise the last four Quarters of the measurement period; provided, further, that if consideration will be paid to any Group Member in connection with such conversion, exercise or exchange, the number of Units to be included in such calculation shall be that number equal to the difference between (x) the number of Units issuable upon such conversion, exercise or exchange and (y) the number of Units that such consideration would purchase at the Current Market Price.

  • Last Scheduled Distribution Date The Distribution Date in the month immediately following the month of the latest scheduled maturity date for any of the Mortgage Loans.

  • Common Share means one share of the common stock of the Company.

  • Base Interest Fraction With respect to any Principal Prepayment on any Mortgage Loan and with respect to any Class of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB, Class A-S, Class B, Class C, Class D and Class E Certificates, a fraction (a) whose numerator is the amount, if any, by which (i) the Pass-Through Rate on such Class of Certificates exceeds (ii) the discount rate used in accordance with the related Loan Documents in calculating the Yield Maintenance Charge with respect to such Principal Prepayment (or, if the Yield Maintenance Charge is a fixed percentage of the principal balance of the related Mortgage Loan, the yield rate applicable to any related yield maintenance charge or that is otherwise described in the related Loan Documents) and (b) whose denominator is the amount, if any, by which (i) the Mortgage Rate on such Mortgage Loan exceeds (ii) the discount rate used in accordance with the related Loan Documents in calculating the Yield Maintenance Charge with respect to such Principal Prepayment (or, if the Yield Maintenance Charge is a fixed percentage of the principal balance of the related Mortgage Loan, the yield rate applicable to any related yield maintenance charge or that is otherwise described in the related Loan Documents); provided, however, that under no circumstances shall the Base Interest Fraction be greater than one. If the discount rate referred to in the preceding sentence is greater than or equal to both of (x) the Mortgage Rate on the related Mortgage Loan and (y) the Pass-Through Rate described in the preceding sentence, then the Base Interest Fraction shall equal zero, and if such discount rate is greater than or equal to the Mortgage Rate on such Mortgage Loan, but less than the Pass-Through Rate described in the preceding sentence, then the Base Interest Fraction shall equal one.

  • Per Share Value means the average value of the consideration to be received in respect of each outstanding Common Share pursuant to the Qualifying Transaction as determined by mutual agreement of the Independent Directors (as defined in Section 2(b)(ii) below) and the holders of not less than 50% in interest of all outstanding warrants to purchase Common Shares containing this provision, or, if they shall fail to agree, by an Investment Bank.

  • PO Fraction With respect to any Discount Mortgage Loan, the difference between 1.0 and the Non-PO Fraction for such Mortgage Loan; with respect to any other Mortgage Loan, zero. Pool Balance (Non-PO Portion): As of any Distribution Date, the sum of the amounts for each Mortgage Loan that is an Outstanding Mortgage Loan of the product of (i) the Non-PO Fraction for such Mortgage Loan and (ii) the Scheduled Principal Balance of such Mortgage Loan. Pool Balance (PO Portion): As of any Distribution Date, the sum of the amounts for each Mortgage Loan that is an Outstanding Mortgage Loan of the product of (i) the PO Fraction for such Mortgage Loan and (ii) the Scheduled Principal Balance of such Mortgage Loan.

  • Cash Surrender Value means an amount that equals, at any specified time, the cash surrender value as determined under the terms of the Policy.

  • Share Valuefinal means the Preference Share Value on the Valuation Date; and "Share Valueinitial" means the Preference Share Value on the Initial Valuation Date.

  • Non-PO Fraction With respect to any Mortgage Loan, the lesser of (i) 1.00 and (ii) the quotient obtained by dividing the Net Mortgage Interest Rate for such Mortgage Loan by 6.500%.

  • Per Share Amount has the meaning set forth in Section 3.01(c).

  • Delivery Month means each month specified as such by the Exchange pursuant to

  • Average value means the value which best represents the amount of the nutrient which a given food contains, and reflects allowances for seasonal variability, patterns of consumption and other factors which may cause the actual value to vary.

  • Strip Price means, at any time, (a) for the remainder of the then-current calendar year, the average NYMEX Pricing for the remaining months in such calendar year, (b) for each of the succeeding three complete calendar years, the average NYMEX Pricing for the twelve months in each such calendar year, and (c) for the succeeding fourth complete calendar year and each calendar year thereafter, the average NYMEX pricing for the twelve months in such fourth calendar year.

  • Opening Average Share Value means the average, over the trading days in the Opening Average Period, of the closing price of a company’s stock multiplied by the Accumulated Shares for each trading day during the Opening Average Period.