Rent Commencement definition
Rent Commencement. Date: May 1, 2012.
Rent Commencement. The earlier of (i) two hundred forty (240) days after Landlord delivers Premises to Tenant as described in Section 4 or (ii) the date Tenant opens for business.
Rent Commencement means, with respect to vacant space at a Property, the date upon which the Owner of such Property has provided to Carolina and the REIT satisfactory evidence that such vacant space is under lease to a tenant and on terms acceptable to Carolina and FAC (with such tenant being unaffiliated with the Owner) for an initial term of not less than three years and at an effective base rent, inclusive of CAM charges and other items commonly considered "additional rent" of not less than $5.00 per rentable square foot over the term of the Lease, exclusive of renewal options, and such tenant has accepted the demised premises and is in occupancy and paying rent. Such evidence shall include, without limitation, the following items which shall be satisfactory to the REIT and Carolina in their sole discretion: (i) current tenant estoppel certifying as to the amount and location of space demised under the lease, that the tenant has accepted the premises and is in occupancy and paying rent, detailing the rent payable and any rent concessions or unfulfilled landlord construction obligations or allowances, the existence or non-existence of defaults, the term of the lease and any other matters reasonably required by the REIT or Carolina, (ii) a certificate of occupancy covering the entire vacant space, duly issued by applicable governmental authorities, and authorizing the use and occupancy by the tenant of the demised premises for the uses contemplated under the lease, (iii) final lien waivers from all contractors of all mechanics' or other lien rights associated with tenant improvements construction and (iv) a current report of title disclosing no mechanics' or other liens have been filed in connection with the construction of such tenant improvements.
Examples of Rent Commencement in a sentence
Nothing herein contained shall be construed to delay or otherwise affect the Commencement Date or the Rent Commencement Date.
Prior to the Rent Commencement Date, Tenant shall submit to Director a proposed list of such trade fixtures; said list may be subsequently amended during the term of this Lease to reflect any changes in said trade fixtures.
The Rent Commencement Date shall not be extended if City elects to reject any designs or layout proposals submitted.
In such event, and provided such delay is not caused by the act or omission of Tenant, or Tenant’s principal, affiliate, contractor, employee, agent, licensee or invitee (a “Tenant Entity”), the Rent Commencement Date shall be extended day for day to reflect such delay.
The parties have agreed that this amount represents a reasonable approximation of the damages likely to be suffered by City in the event Tenant shall fail to open on or before the Rent Commencement Date.
More Definitions of Rent Commencement
Rent Commencement. Date: March 1, 1991
Rent Commencement. DATE As defined in Section 2.5 hereof. EXPIRATION DATE The date which is the last day of the month in which the fifth anniversary of the Rent Commencement Date occurs. TERM The period commencing on the Commencement Date and ending on the Expiration Date. PERMITTED USES Executive, administrative and general offices, provided that any areas designated on Exhibit A as bathroom, utility or storage areas shall be used only for those respective purposes. BASE TAX YEAR The Tax Year commencing on July 1, 2011 and ending on June 30, 2012. BASE EXPENSE YEAR Calendar year 2012. TENANT’S AREA 1,233 rentable square feet, as mutually agreed by Landlord and Tenant. FIXED RENT Period Lease Years 1- Expiration Date Per Annum $99,256.50 Per Month $8,271.38 ADDITIONAL RENT All sums other than Fixed Rent payable by Tenant to Landlord under this Lease, including Tenant’s Tax Payment, Tenant’s Operating Payment, late charges, overtime or excess service charges, damages, and interest and other costs related to Tenant’s failure to perform any of its obligations under this Lease. RENT Fixed Rent and Additional Rent, collectively. INTEREST RATE The lesser of (i) 4% per annum above the then-current Base Rate, and (ii) the maximum rate permitted by applicable law. SECURITY DEPOSIT $94,941.00. ELECTRICAL INCLUSION FACTOR $4,315.50 per annum, which amount is included in Fixed Rent.
Rent Commencement. Ninety (90) days after the Lease Commencement Date. Tenant's Proportionate Share of Landlord's Electrical Expense: 23.82% Tenant's Proportionate Share of Real Estate Tax Increases: 23.82% Tenant's Proportionate Share of Operating Expense Increases: 23.82% Tenant's Rentable Square Footage: 13,355 square feet. Term: A period of 7 years commencing upon the Lease Commencement Date, provided that if this Lease is extended pursuant hereto, the word "Term" as used herein, shall (unless the context requires otherwise) include any Extension Period.
Rent Commencement means the date being 10 working days after Date" the date of issue of the Certificate of Practical Completion (l) "Agreed Square means the area for each floor as set out in Footage" the Second Schedule hereto (m) "Landlord's Solicitor" means ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ of ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇ or such other firm whose name and address is notified to the Tenant in writing
Rent Commencement. Date: June 1, 1997 Expiration Date: September 18, 2003, not to go past the last day of the Initial Term for the Master Premises set forth in the Master Lease in any event. Brokers: Flin▇ ▇▇▇g▇▇▇▇
Rent Commencement. DATE: January 1, 2001.
Rent Commencement. Between June 1, 1993 and August 1, 1993, depending upon Availability