Renewal Term Commencement Date definition
Examples of Renewal Term Commencement Date in a sentence
The undersigned, being the duly authorized representative of the Lessee, hereby certifies that the items of Equipment described on the attached Schedule B have been duly delivered to the Lessee in good order and duly inspected and accepted by the Lessee as conforming in all respects with the requirements and provisions of the Master Lease, as of the Renewal Term Commencement Date stated on the attached Schedule A.
Landlord shall advise Tenant (the “Rent Notice”) of Landlord’s determination of Fair Market Value prior to the Renewal Term Commencement Date.
Upon request by Landlord or Tenant made on or following the Renewal Term Commencement Date, the requested party will execute, acknowledge and deliver to the requesting party an amendment to this Lease setting forth the Renewal Term Commencement Date, Fixed Rent for the Renewal Term, and the Renewal Term Expiration Date.
The rent payable for the Premises during the Renewal Term shall be adjusted to the Market Rent (as defined in Section 2.2.2) as of the Renewal Term Commencement Date.
As of the Fourth Renewal Term Commencement Date, Tenant’s Base Year for the Existing Premises and the Second Expansion Premises shall be adjusted to 2012.
As of the Renewal Term Commencement Date, Tenant’s entitlement to parking spaces shall be based upon the rentable square feet in the Replacement Leased Premises.
If the Rent payable during the Renewal Term is not determined prior to the Renewal Term Commencement Date, Tenant shall pay Rent in an amount equal to the Fair Market Value for the Renewal Premises as set forth in the Rent Notice (the “Interim Rent”).
Provided that Landlord and Tenant have executed and delivered this Amendment not later than October 15, 2007, then until the Renewal Term Commencement Date occurs, Tenant shall pay, as Monthly Base Rent, the Monthly Base Rent that is due for the last month of the Term for the Original Leased Premises (and not the holdover Monthly Base Rent required under Article 9 of the Lease).
Landlord shall provide written notice of such amount within thirty (30) days after Tenant provides the notice to Landlord exercising each Renewal Option pursuant to Section 3.4 of this Lease; provided, however, that Landlord shall not be obligated to provide such notice with respect to the rent determination for a Renewal Term prior to the date which is fifteen (15) months before the applicable Renewal Term Commencement Date.
Lessee may notify Lessor that Lessee desires a determination of the Fair Market Rental Value of such Units for a Renewal Term commencing upon the Renewal Term Commencement Date.