Sublease Year definition

Sublease Year means each succeeding twelve (12) calendar month period commencing on the date hereof.

Sublease Year is the twelve (12) month period commencing on July 1, 2015 and each anniversary thereof during each year of the Term. The “Initial Term” commenced on July 1, 2015 (the “Commencement Date”) and ends on June 30, 2025 and may be extended for one (1) separate renewal term of five (5) years (the “Renewal Term”) if: (a) at least one hundred eighty (180) days prior to the end of the Initial Term, Sublessee delivers to Sublessor the “Renewal Notice” indicating that Sublessee desires to exercise its right to extend this Sublease for the Renewal Term and (b) there is no then uncured Event of Default (i) as of the date Sublessor receives the Renewal Notice (the “Exercise Date”), or (ii) on the last day of the Initial Term and (c) Tenant and any Affiliate of Tenant that leases any additional facility from Landlord or Landlord’s Affiliates concurrently deliver appropriate Renewal Notice(s) exercising all renewal options for all such facilities. For purposes hereof, “Termination Date” shall mean the last day of the Initial Term or the Renewal Term (if any) or the earlier date on which this Sublease may be terminated as provided herein and “Term” shall mean the Initial Term plus the Renewal Term (if any). HNZW//3583-1

Sublease Year means each period of twelve (12) full calendar months beginning on the first day of the month in which the Rent Commencement Date (defined below) occurs (“Commencement Month”) and ending on the last day of the twelfth (12th) month following the Commencement Month. However, the Expiration Date shall not change, and the last Sublease Year of the Sublease Term shall end on the Expiration Date, regardless of whether the last Sublease Year is thereby less than twelve (12) full calendar months.

Examples of Sublease Year in a sentence

• If Sublessee shall for any reason remain in possession of the Premises after the Termination Date, such possession shall be a month-to-month tenancy during which time Sublessee shall pay as rental on the first (1st) business day of each month one hundred twenty-five percent (125%) of the monthly Rent payable with respect to the last Sublease Year, all additional charges accruing during the month and all other sums, if any, payable by Sublessee pursuant to this Sublease.

• If deposits are in excess of the actual obligation, the required monthly deposits for the ensuing Sublease Year shall be reduced proportionately and any such excess at the end of the final Sublease Year shall be refunded to Sublessee within thirty calendar (30) days.

• If deposits are in excess of the actual obligation, the required monthly deposits for the ensuing Sublease Year shall be reduced proportionately and any such excess at the end of the final Sublease Year shall be refunded to Sublessee within ten (10) calendar days.

• During the first Sublease Year of each Renewal Term, Base Rent shall be reset in an amount equal to the Reset Rent.

• Commencing on the first day of the second Sublease Year and continuing through months thirty six (36), Base Rent per month shall be equal to the greater of (i) the Calculated Rent or (ii) 115% of the Debt Service Rent.

More Definitions of Sublease Year

Sublease Year means the twelve-month period commencing on the Commencement Date or if such date is not the first day of the month, then on the first day of the month next following;

Sublease Year means a period of twelve (12) consecutive months, commencing on the Sublease Commencement Date, and each successive twelve (12) month

Sublease Year means the calendar year, or portion thereof, following the Commencement Date and during the Sublease Term, the whole or any part of which period is included within the Sublease Term.

Sublease Year means, initially, from the commencement of this Sublease through the succeeding June 30, and, thereafter, means the twelve-month period of each year commencing on July 1 and ending on the next June 30.

Sublease Year means each succeeding one year period commencing on the date hereof.

Sublease Year means a period of twelve (12) consecutive full calendar months, the first Sublease Year beginning on the Commencement Date of the Term hereof. Each succeeding Sublease Year shall commence upon the anniversary date of the first Sublease Year;

Sublease Year is the twelve (12) month period commencing on the Commencement Date (as defined below) and each anniversary thereof during each year of the Term. The “Initial Term” commences on the first day of the month after the Sublessee’s receipt (i) of all licenses and other approvals from the State of Ohio required to operate the Facility and (ii) approval of this Sublease by the United States Department of Housing and Urban Development (the “Commencement Date”) and ends on the last day of the one hundred twentieth (120th) full calendar month thereafter, and may be extended for one (1) separate renewal term of five (5) years (the “Renewal Term”) if: (a) at least one hundred eighty (180) days prior to the end of the Initial Term, Sublessee delivers to Sublessor the “Renewal Notice” indicating that Sublessee desires to exercise its right to extend this Sublease for the Renewal Term and (b) there is no then uncured Event of Default (i) as of the date Sublessor receives the Renewal Notice (the “Exercise Date”), or (ii) on the last day of the Initial Term and (c) Tenant and any Affiliate of Tenant that leases any additional facility from Landlord or Landlord’s Affiliates concurrently deliver appropriate Renewal Notice(s) exercising all renewal options for all such facilities. For purposes hereof, “Termination Date” shall mean the last day of the Initial Term or the Renewal Term (if any) or the earlier date on which this Sublease may be terminated as provided herein. HNZW/493109_4.doc/3583-95 (Greenfield)