Common use of Beginning on the Commencement Date Clause in Contracts

Beginning on the Commencement Date. Tenant shall pay the annual Fixed Rent in equal monthly installments in advance on the first (1st) calendar day of each and every calendar month. If the Commencement Date occurs on a day other than the first day of a calendar month, the Fixed Rent for the partial calendar month shall be prorated. Notwithstanding the foregoing, Tenant will not be required to pay Fixed Rent for the first three (3) months of the Term, so that the annual Fixed Rent for the first Lease Year will be $114,635.25.