Initial Lease Period definition

Initial Lease Period. - means the initial period of the lease, as set out in item 3 of Schedule A hereto;
Sample 1Sample 2Sample 3
Initial Lease Period means a period of [3 years] ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■
Sample 1
Initial Lease Period has the meaning given to that expression in Clause 3.1.
Sample 1Sample 2

Examples of Initial Lease Period in a sentence

  • The Lessee shall from the Agreement Date and during the term of the Initial Lease Period, pay Lease Rent to the Lessor at the rate of 2% (Two Percent) of the Total Land Premium along with the applicable Goods & Service Tax (GST) per annum in advance before 1st day of April of every year during the Initial Lease Period, by way of a Demand draft or pay order in favour of the Lessor on a nationalized/scheduled bank having a branch at Raipur.

  • The term of this Agreement may be extended, at the sole option of the LESSOR, for two(2) additional periods of five (5) years each, under the same terms and conditions contained in this Agreement, provided LESSEE gives written Notice to the LESSOR, as set forth in Article XXIX, at least one hundred twenty (120) days prior to the expiration of the Initial Lease Period or the then current period, and LESSEE is not in default in performance of the obligations set forth in this Agreement.

  • The lease period shall automatically renew for six (6) month periods after the Initial Lease Period, unless either Party provides the other six (6) months written notice of the lease termination.

  • The monthly rental sums during the remaining 30 months of the Initial Lease Period shall stand, notwithstanding the terms of Section 6.1.1 above, at the New Shekel equivalent of the sum of $30,500 (thirty thousand five hundred US dollars) in accordance with the Dollar Exchange Rate known on the date of issuing the invoice, together with duly payable VAT.

  • The Tenant will be entitled to deduct the amount credited from the two final rental payments of the Initial Lease Period.

  • The Initial Lease Period shall be treated as a “Lock – in Period”, during which the Lessee shall not abandon, surrender or terminate the lease or cause the lease to be terminated, in any manner whatsoever, except in case of termination of the lease by the Lessee on account of breach by the Lessor as mentioned in Sub Clauses (b)(i) and (b)(ii) of Clause 18 below.

  • The Lease shall be for a term of five (5) years commencing the 18th day of February, 1997, and ending on the 17th day of February, 2002, hereafter called the "Initial Lease Period".

  • If Lessee does not elect to terminate within said three (3) months, the Lease shall continue for the remainder of the Initial Lease Period, it being understood that Lessee retains the right not to renew the Lease for the Base Lease Period in accordance with Section 3(a) herein.

  • If not in default in performance of the obligations set forth in this Agreement, the BOARD may, at its sole discretion, extend this Agreement, under the same terms and conditions set forth herein, for two (2) additional extension periods of one (1) year each, provided the CITY gives written notice to the BOARD at least one-hundred twenty (120) days prior to the expiration of the Initial Lease Period or the then current term.

  • The Tenant shall have the right to extend the lease for an additional period of 60 months, after giving a minimum of 3-month advance written notification before the termination of the Initial Lease Period (hereinafter: the “AdditionalLease Period”).


More Definitions of Initial Lease Period

Initial Lease Period. With respect to each Long Term Unit which has not been subject to a Finance Lease, the period commencing on the date such Long Term Unit is first placed in service in the Long Term Fleet and ending on the earlier of the date such unit is initially leased out on a Short Term Lease or the date such unit is no longer available for lease; and with respect to each Long Term Unit which has been subject to a Finance Lease, the period commencing on the date such Long Term Unit is first placed in service in the Long Term Fleet and ending on the date such unit is no longer managed by Triton as part of the Combined Fleet. A Long Term Unit shall be considered to be in an Initial Lease Period notwithstanding that it may be off-lease at any time during such period. Insolvency Law: The Bankruptcy Code or similar Applicable Law in any other applicable jurisdiction. Insolvency Proceeding: Any Proceeding under any applicable Insolvency Law. Instruments: Any instrument, as such term is defined in the UCC, including, without limitation, all notes, certificated securities, and other evidences of indebtedness, other than instruments that constitute, or are a part of a group of writings that constitute, Chattel Paper.
Sample 1
Initial Lease Period as defined in Section 6(a).
Sample 1
Initial Lease Period means a period of five years from the Delivery Date for the Aircraft to but excluding the fifth anniversary of such Delivery Date.
Sample 1
Initial Lease Period means the period commencing on the Delivery Date for the Aircraft and ending on December 21, 1986."
Sample 1
Initial Lease Period means the ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ . "Intellectual Property" means intellectual property of the manufacturer with respect to the IT ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ , ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ . “Lease Period” means the Initial ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ . "Lease Rentals" means the amounts by way of rental for the use ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ . “Office Equipment” means subject matter ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ ■ .
Sample 1
Initial Lease Period shall be the period starting on the Delivery Date and ending with the 20th anniversary of the Delivery Date.
Sample 1

Related to Initial 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 Term means the term of this Lease which shall commence on the Commencement Date and continue for the period specified in Section J of the Summary.

  • Rental Period means the calendar period during which Government property is made available for nongovernmental purposes.

  • Commencement Date means the date of this Agreement;

  • Extended Term shall have the meaning given such term in Section 2.4.

  • Lease Year means each consecutive twelve-month period beginning with the Commencement Date, except that if the Commencement Date is not the first day of a calendar month, then the first Lease Year shall be the period from the Commencement Date through the final day of the twelve months after the first day of the following month, and each subsequent Lease Year shall be the twelve months following the prior Lease Year.

  • commencement day means the day on which the State Administrative Tribunal (Conferral of Jurisdiction) Amendment and Repeal Act 2004 Part 2 Division 129 comes into operation;

  • Base Period means (i) the test period ending December 31, 2010 (or, if the Commission has elected to stagger its biennial reviews of utilities as provided in subdivision 1, the test period ending December 31, 2010, for a Phase I Utility, or December 31, 2011, for a Phase II Utility), or (ii) the most recent test period with respect to which credits have been applied to customers' bills under the provisions of this subdivision, whichever is later.

  • the commencement date means the date on which the Contract shall take effect, as notified by the Authority to the Contractor in a letter awarding the Contract.