The Lease Term definition

The Lease Term. A period that commences on the Handover Date, i.e. November 1, 2019, and ends 36 calendar months later, namely October 31, 2022 (“the Lease Term”). It is agreed that during the Lease Term, the Lessee may terminate the lease in the Leasehold twenty four (24) months after the Handover Date (“the Exit Point”), subject following provisions. Termination of the lease at the Exit Point will be possible only subject to receipt of an unconditional written notice from the Lessee regarding its wish to terminate the lease in the Leasehold on the foregoing Exit Point date (“the Notice”), received by the Lessor at least 60 days prior to the Exit Point date (“the Date of Notice"). It is clarified that if the Lessee does not send the Notice by the Date of Notice, it shall not be entitled to exercise its right to the foregoing Exit Point. It is clarified that if the Lessee chooses to exercise its right to such Exit Point, exercise of the right will be subject to payment of an exit fee to the Lessor in an amount equal to the rent and management fees for one month’s lease of the Leasehold, when such sum is linked to the Base CPI plus VAT as required by law ("Exit Fee Payment").
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The Lease Term a term of 72 months, commencing immediately upon the transfer of possession of the Leased Premises to the Lessee.
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The Lease Term. For 2 years between May 1 '98 and Apr. 30, 2000.
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Examples of The Lease Term in a sentence

  • The Lease Term is for the period stated in Section 1.05 above and shall begin and end on the dates specified in Section 1.05 above, unless the beginning or end of the Lease Term is changed under any provision of this Lease.

  • The Lease Term shall commence on or has commenced on for a term of ending on .

  • The Lease Term shall be that period of time commencing on the Lease Commencement Date and ending on the Lease Expiration Date (the "Lease Term").

  • The Lease Term shall be that period of time commencing on the Lease Commencement Date and ending on the Lease Expiration Date (the “Lease Term”).

  • The Lease Term shall be for the period stated in the definition of that term, unless earlier terminated as provided in this Lease.

  • The Lease Term is for the period stated in Section 1.5 above and shall begin and end on the dates specified in Section 1.5 above, unless the beginning or end of the Lease Term is changed under any provision of this Lease.

  • The Lease Term Commencement Date means the date on which the lease term commences.

  • The Lease Term shall also include any properly exercised renewal or extension of the term of this Lease.

  • The Lease Term does not automatically renew on any basis or for any reason.

  • We refer to this period of time as the “Lease Term.” The Lease Term begins on the Interconnection Date.


More Definitions of The Lease Term

The Lease Term. As defined in Section 6 below, including Additional Lease Terms, as the case may be; "Quarter" Periods of three months each, starting on January 1, April 1, July 1 and October 1, in every calendar year; "the Architect, the Engineer" The Project Architect or Engineer or manager to be appointed from time to time by the Lessor;
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The Lease Term means 40 years starting on
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Related to The Lease Term

  • 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.

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

  • Base Term Commencing (i) with respect to the Original Premises on the Commencement Date, and (ii) with respect to the Expansion Premises on the Expansion Premises Commencement Date, and ending with respect to the entire Premises on September 15, 2016 (“Expiration 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.

  • this Lease means the relevant portion of Articles 1 through 29 of this Office Lease to which this Tenant Work Letter is attached as EXHIBIT B and of which this Tenant Work Letter forms a part, and all references in this Tenant Work Letter to sections of "this Tenant Work Letter" shall mean the relevant portion of Sections 1 through 7 of this Tenant Work Letter.

  • 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.

  • 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.

  • Commencement Date means the date of this Agreement;

  • Subleased Premises means all that portion of the Leased Premises referred to as airport lot as outlined on the site diagram attached as Schedule "A" to this Sublease; and

  • Storage Space means a space where goods of non-hazardous nature are stored and includes cold storage and banking safe vaults;

  • Base Rent Period Annual Rate Per Square Foot Monthly Base Rent

  • 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.

  • Commercial Premises Means a place of trade or premises operated for financial gain, including but not limited to, a retirement village or a block of flats that has a common facility; a place of trade where the manufacture and production of products or produce takes place; a site where renovation, restoration and refurbishment work as described in Appendix B takes place.

  • Lease Commencement Date means the Closing Date. The “Lease Expiration Date” shall mean the later of (i) the date of the final payment in full of the French Advances and (ii) the Vehicle Lease Expiration Date for the last Lease Vehicle leased by the Lessee hereunder. The “Term” of this Agreement shall mean the period commencing on the Lease Commencement Date and ending on the Lease Expiration Date.

  • Work space means that portion of the court’s facilities dedicated to each court reporter, including but not limited to actual space in the courtroom and any designated office space.

  • 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.

  • School premises means either of the following:

  • Rent means “eligible rent” to which regulation 12 of the Housing Benefit (Persons who have attained the qualifying age for state pension credit) Regulations 2006 refer, less any deductions in respect of non-dependants which fall to be made under paragraph 30 (non-dependant deductions);

  • Extended Term shall have the meaning given such term in Section 2.4.

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Leased space means a self−service storage unit or a space located within a self−service storage facility that a lessee is enti- tled to use for the storage of personal property on a self−service basis pursuant to a rental agreement and that is not rented or pro- vided to the lessee in conjunction with property for residential use by the lessee.

  • 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).

  • Initial Rent means [ ] (£[ ]) STERLING yearly (exclusive of any VAT);

  • Base Lease means the Base Lease Agreement delivered concurrently with this Lease between the Company and the Issuer.

  • Extension Term means the time period defined in §2.C.

  • Rent Commencement Date means [Insert date or description] or any later date calculated in accordance with paragraph 3.3 of Part 5 of the Schedule;