Sublease Month definition

Sublease Month means each calendar month of the Sublease Term; provided, however, that if the Commencement Date shall occur on a day that is not the first day of a calendar month, then (i) the initial Sublease Month shall refer only to that partial calendar month included in the Sublease Term; and (ii) Basic Rent for such partial calendar month shall be paid by Subtenant on a pro rata basis (prorated based upon the actual number of days of the calendar month that are within the Sublease Term).
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Sublease Month means the period commencing on the Sublease Commencement Date and ending on the day immediately preceding the first (1st) monthly anniversary of the Sublease Commencement Date, and thereafter each succeeding Sublease Month shall commence on the next monthly anniversary of the Sublease Commencement Date, provided that the last Sublease Month shall end on the Sublease Expiration Date. The Basic Rent payable for the first (1st) full month of the Sublease Term shall be payable by Subtenant to Sublandlord concurrently with Subtenant's execution and delivery of this Sublease to Sublandlord.
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Sublease Month means each calendar month during the Sublease Term. Sublandlord shall use all commercially reasonable efforts to tender possession and occupancy of the Subleased Premises to Subtenant on or before October 30, 2017. Should the Subleased Premises be available for possession and occupancy prior to the Sublease Commencement Date, Sublandlord shall immediately provide written notice to Subtenant of such date (the “Early Occupancy Notice”). Within five (5) business days of receipt of the Early Occupancy Notice, Subtenant shall respond indicating whether it accepts or declines early access. If accepted, the parties shall execute a written amendment to this Sublease with the new Sublease Commencement Date (in which case the earlier Sublease Commencement Date shall be substituted in place of the October 30, 2017 Sublease Commencement Date specified above, and all other terms of this Lease shall continue to apply). If for any reason Sublandlord does not tender possession and occupancy of the Subleased Premises to Subtenant by October 30, 2017, then Subtenant may, at Subtenant’s sole election, either (1) take immediate possession of the Subleased Premises, move in and occupy the same; or (2) agree that the Sublease Commencement Date shall be adjusted to be the date on which Sublandlord tenders possession and occupancy of the Subleased Premises to Subtenant in the condition required under this Sublease. Additionally, if for any reason Sublandlord does not tender possession and occupancy of the Subleased Premises to Subtenant by October 30, 2017, which deadline shall be extended on a day for day basis for any delays caused by any events beyond Sublandlord’s reasonable control, including any delays caused by Subtenant, and Subtenant has not elected to take immediate possession, then Subtenant shall as its sole remedy for any such delay (subject to termination as provided below), receive a credit against the Sublease Base Rent first becoming due under this Sublease, in an amount equal to the product of (x) $7,500 per day, times (y) the number of days from October 30, 2017 until the date on which Sublandlord tenders possession and occupancy of the Subleased Premises to Subtenant in the condition required under this Sublease. If Subtenant has elected to take immediate possession of the Subleased Premises, then Sublandlord shall on written demand, immediately pay to Subtenant any costs reasonably incurred by Subtenant in contracting with vendors to remove Sublandlord’s prop...
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Examples of Sublease Month in a sentence

  • Base Rent shall be payable in advance on the first (1st) day of each calendar month; provided, however, that prior to the Sublease Commencement Date, within five (5) days after Sublandlord’s receipt of the Master Landlord’s Consent, Subtenant shall pay Sublandlord the Base Rent for the fourth (4th) Sublease Month.

Related to Sublease Month

  • Lease Month means each calendar month during the Term (and if the Commencement Date does not occur on the first day of a calendar month, the period from the Commencement Date to the first day of the next calendar month shall be included in the first Lease Month for purposes of determining the duration of the Term and the monthly Basic Rent rate applicable for such partial month).

  • Base Monthly Rent means the fixed monthly rent payable by Tenant pursuant to Section 3.1 which is specified in Section K of the Summary.

  • Sublease means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease.

  • 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.

  • Operating Lease Expense means the sum of all payments and expenses incurred by a Person, under any operating leases during the period of determination, as determined in accordance with GAAP.

  • the Lease means the lease of the said land to be granted by the Lessor to the Lessee pursuant to clause 2.1;

  • Lease Rentals means, for any period, the aggregate amount of fixed rental or operating lease expense payable by the Company and its Subsidiaries with respect to leases of real and personal property (excluding Capital Lease Obligations) determined in accordance with GAAP.

  • Tenant Lease means any lease entered into by the Borrower, any Loan Party or any Subsidiary with respect to any portion of a Property.

  • Sublease Payment means any payment required to be made by the District pursuant to Article 7 of this Sublease.

  • Lease Term means the term of this Lease which shall commence on the Commencement Date and continue for the period specified in Section J of the Summary.

  • domestic premises means any premises used wholly or partly as a dwelling or intended for such use;

  • Lease Period means each of the consecutive periods throughout the Basic Term and any Renewal Term ending on a Lease Period Date, the first such period commencing on and including the Delivery Date.

  • Expansion Space means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.

  • Operating Lease of a Person means any lease of Property (other than a Capitalized Lease) by such Person as lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more.

  • Operating Month for a Shipper or Transferor means any calendar month in which Carrier either transports Crude Petroleum or recognizes and records a change in ownership of Crude Petroleum for the account of such Party. For purposes hereof the calendar month shall be deemed to begin at 7:00 a.m. (Central Time) on the first day of such month.

  • Lease Expense means, with respect to any Person, for any period for such Person and its subsidiaries on a Consolidated basis, lease and rental expense accrued during such period under all leases and rental agreements, other than Capital Leases and leases of personal property, determined in conformity with GAAP.

  • Subleases means the Sublease(s) of even date herewith by and between the District and Contractor together with any duly authorized and executed amendment hereto under which the District subleases the Site from the Contractor.

  • Lease Area means the Lease Area as more particularly described in SCHEDULE C.

  • Space Lease The space or occupancy lease pursuant to which any Borrower holds a leasehold interest in the related Mortgaged Property, together with any estoppels or other agreements executed and delivered by the lessor in favor of the lender under the related Mortgage Loan(s).

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • Leased space means individual storage space at a self-service storage facility which is rented to an occupant pursuant to a rental agreement.

  • Open space means undeveloped land, a naturally landscaped area, or a formal or man-made landscaped area that provides a connective link or a buffer between other resources.

  • Prior Occupancy means Owner’s use of all or parts of the Project before Substantial Completion, as more fully set forth in Section 6.08 A.

  • Annual Base Rent means the business’s annual lease payment minus taxes, insurance and operating or maintenance expenses.

  • Tenant Leases means leases, subleases, licenses or other use agreements between Seller and tenants with respect to Real Property, if any.