Interim Occupancy Period definition
Examples of Interim Occupancy Period in a sentence
The Purchaser specifically covenants and agrees that should the Purchaser wish to pay the full amount of the Purchase Price on the day commencing the Occupancy Date, then the Purchaser must have provided prior written notice to the Vendor during the conditional period of this Agreement that the Purchaser intended to do so; otherwise, the Purchaser shall remain responsible to pay the Occupancy Fee throughout the Interim Occupancy Period.
The Purchaser shall pay the Occupancy Fee during the Interim Occupancy Period and the Vendor shall return all unused postdated Occupancy Fee cheques to the Purchaser on or shortly after the Title Closing Date.
The Purchaser shall be allowed to remain in occupancy of the Property during the Interim Occupancy Period provided the terms of the within Licence and the Agreement of Purchase and Sale have been observed and performed by the Purchaser.
In accordance with section 80 of the Act, subject to strict compliance by the Purchaser with the requirements of occupancy and assignment set forth in the Agreement of Purchase and Sale, the Purchaser shall not have the right to assign, sublet or in any other manner dispose of this Licence to occupy the Property during the Interim Occupancy Period without the prior written consent of the Vendor and, if applicable, the First Mortgagee, which may be arbitrarily withheld.
During the Interim Occupancy Period, Tenant has the right to occupy and use the Premises for the Permitted Use in accordance with all of the terms of this Lease.
Tenant agrees and acknowledges that in the course of Landlord’s Work during the Interim Occupancy Period and, as applicable, following the Commencement Date, there may be disruptions or disturbances in the use and quiet enjoyment of the Premises caused by Landlord’s Work, and such disruptions or disturbances shall not be deemed a breach of the Lease by Landlord.
Subject to paragraph 6, the Occupancy Fees paid during the Interim Occupancy Period shall be apportioned and allowed to the Title Closing Date, with that day itself apportioned to the Purchaser.
If such leasehold improvements to the Leased Premises are substantially completed before May 1, 2002 (the “Delivery Date”), the Tenant shall have the right to occupy the Leased Premises upon such substantial completion of the leasehold improvements and until the Commencement Date (the “Interim Occupancy Period”) and during such Interim Occupancy Period, no Basic Minimum Rent shall be payable prior to the Commencement Date.
From and after the execution of this Lease through the Commencement Date (the "Interim Occupancy Period"), Landlord hereby grants Tenant a license to continue to occupy that portion of the Complex currently occupied by Tenant and consisting of approximately 80,000 square feet (the "Existing Premises") at a monthly rental rate of $56,854.00.
Subject to paragraph 6, the Occupancy Fees paid during the Interim Occupancy Period and realty taxes for vacant land only shall be apportioned and allowed to the Title Closing Date, with that day itself apportioned to the Purchaser.