Partial Lease Year definition

Partial Lease Year means that portion of the Lease Term prior to the first full Lease Year or following the last full Lease Year.

Partial Lease Year means any period of less than twelve consecutive months which may occur at the beginning or end of the Term.

Partial Lease Year means the time period comprised of the first two (2) full calendar months of the seventh (7th)

Examples of Partial Lease Year in a sentence

• In the event of a Partial Lease Year, the Sales Breakpoint shall be determined by multiplying the Sales Breakpoint for the full Lease Year, by a fraction, the numerator of which shall be the number of days contained in such Partial Lease Year and the denominator of which shall be 365 days.

• If Minimum Rent for any Lease Year or Partial Lease Year is reduced or abated for any reason, the Sales Breakpoint shall be reduced in direct proportion to the reduction or abatement of Minimum Rent for the period of time that such reduction or abatement of Minimum Rent is in effect.

• In addition to the payment of Minimum Rent, Tenant covenants and agrees to pay to Landlord, without notice or demand, at the Remittance Address, an amount, if any, equal to the Percentage Rent Rate applied against that portion of Tenant’s Adjusted Gross Sales during each Lease Year or Partial Lease Year in excess of the Sales Breakpoint for such period (hereinafter referred to as “Percentage Rent”).

More Definitions of Partial Lease Year

Partial Lease Year means that period from and including the Commencement Date to the end of the calendar year during which this Lease commences and that period from the beginning of the calendar year in which this Lease terminates to and including the Expiration Date.

Partial Lease Year. Any period during the Term which is less than a full Lease Year.

Partial Lease Year means (a) the period ------------------ between the Commencement Date, if that date is not the first day of a month, and the day before the beginning of the first Full Lease Year, and (b) if the Term ends on other than the last day of a Full Lease Year, the period beginning on the first day following the end of the final Full Lease Year of the Term and ending on the last day of the Term. "Lease Year" means either a Full Lease Year ---------- or Partial Lease Year, as the case may be. As used herein, the term "Commencement Date" shall mean the date of the earlier to occur of (i) the date ----------------- Tenant opens to the public for business from the Premises, or (ii) sixty (60) days after the Substantial Completion Date. If the Commencement Date does not occur within three (3) years after the date hereof, this Lease shall automatically terminate and be of no further force or effect, unless otherwise approved by both parties, in the event of which termination neither party shall have any further liability or obligation hereunder.

Partial Lease Year means the period between the end of the last full ------------------ Lease Year and the termination of this Lease.

Partial Lease Year means any other period of time other than a full calendar year.

Partial Lease Year means if the Completion Date is a date other than November 1, then the period from the Completion Date to the first day of the first Lease Year. Unless otherwise expressly provided for herein, all terms and conditions herein shall apply the same to a Partial Lease Year as to a Lease Year; provided, however, that all payments and other financial obligations shall be apportioned or prorated pursuant to Section 24.7 hereof.

Partial Lease Year means a Lease Year which does not consist of twelve (12) full calendar months.