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.
Lease Year means the twelve (12) month period commencing on the Commencement Date and each successive twelve (12) month period thereafter.
Lease Year means each twelve-month period during the term of the Lease commencing upon the effective date of the Lease.
Examples of Lease Year in a sentence
Thereafter, for the 2nd Lease Year, the MAG shall be adjusted, effective April 1 to a new MAG amount which shall equal eighty-five percent (85%) of the annualized Concession Fee paid during the previous calendar year (the MAG calculation period).
For the first Lease Year the MAG will be $[Enter Amount], payable in equal monthly installments of $[Enter Amount].
In which event the Authority shall have the right to recover as liquidated damages and not as a penalty a sum equal to the MAG payable for one (1) Lease Year plus all expenses incurred by the Authority as a result of the termination, and the cost of any alterations or repairs which the Authority, in its sole discretion, deems advisable to relet the Premises.
Lessee shall pay annual rent (“Base Rent”) to Lessor in the amount equal to the greater of One Dollar ($1) per year or the amount set forth in this Section commencing upon the Commencement Date and on January 1 of each succeeding Lease Year until the expiration of the Term or the termination of this Lease.
Upon receipt of the December Concession Fee, the Authority shall calculate the MAG as described in Section 4.3 of this Lease for the next Lease Year.
More Definitions of Lease Year
Lease Year means a period of twelve (12) consecutive full calendar months. The first Lease Year shall begin on the Ground Lease Commencement Date. Each succeeding Lease Year shall commence upon the anniversary of the first day of the previous Lease Year.
Lease Year means any Fiscal Year during the Term and any partial Fiscal Year at the beginning or end of the Term.
Lease Year means, with respect to the first Lease Year, the period commencing on the Commencement Date and ending at midnight on the last day of the twelfth (12th) consecutive calendar month following the month in which the Commencement Date occurred, and each succeeding twelve (12) month period during the Term.
Lease Year means a period of twelve (12) consecutive full calendar months with the first Lease Year commencing on the date of the commencement of the term of this Lease and each succeeding Lease Year commencing upon the anniversary date of the first Lease Year; however, if this Lease does not commence on the first day of a month, then, the first Lease Year and each succeeding Lease Year shall commence on the first day of the first month following each anniversary date of this Lease;
Lease Year means each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within five (5) days of receipt thereof.
Lease Year means each one (1) year period following the Effective Date and each anniversary of the Effective Date.
Lease Year means each consecutive twelve (12) month period during the Lease Term. At any time during the Lease Term, Landlord may deliver to Tenant a notice in the form as set forth in Exhibit C, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within five (5) business days of receipt thereof. Notwithstanding the foregoing, if Landlord has not delivered possession of the Premises in the condition required by Section 1.1.1, above, (1) on or before July 1, 2016, then, as Tenant’s sole remedy for such delay, the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one day for each two (2) days that the delivery date is delayed beyond such date, (2) on or before August 1, 2016, then, as Tenant’s sole remedy for such delay (in addition to the delay in subpart (1)), the date Tenant is otherwise obligated to commence payment of rent shall be delayed by one additional day for each day that the delivery date is delayed beyond such date, or (3) October 1, 2016, then, Tenant shall also have the right to terminate this Lease by written notice thereof to Landlord, whereupon any monies previously paid by Tenant to Landlord shall be reimbursed to Tenant. The foregoing dates shall be extended to the extent of any delays in delivery of possession caused by war, terrorism, acts of God, natural disaster, civil unrest, governmental strike or area-wide or industry-wide labor disputes, inability to obtain services, labor, or materials or reasonable substitutes therefor, or delays due to utility companies that are not the result of any action or inaction of Landlord. Landlord shall allow Tenant access to the Premises prior to the Lease Commencement Date for the purpose of Tenant installing equipment, furniture or fixtures (including Tenant’s data and telephone equipment) in the Premises and any other purpose necessary to ready the Premises for Tenant’s occupancy (but not for conducting business) without payment of Rent. Prior to Tenant’s entry into the Premises, Tenant shall submit a schedule to Landlord for approval, which schedule shall detail the timing and purpose of Tenant’s entry. Tenant shall hold Landlord harmless from and indemnify, protect and defend Landlord against any loss or damage to the Building or Premises and against injury to any persons caused by Tenant’s actions pursuant to this Section 2.1.