Commencement of Term Clause Samples
The Commencement of Term clause defines the exact date or event upon which the contractual obligations between the parties begin. Typically, this clause specifies whether the term starts on the date the agreement is signed, a future date, or upon the occurrence of a specific event, such as delivery of goods or completion of a condition. By clearly establishing when the contract becomes effective, this clause ensures both parties are aware of when their rights and responsibilities commence, thereby preventing disputes over timing and providing certainty in the contractual relationship.
Commencement of Term. (a) The Premises shall be deemed substantially completed upon the issuance of a certificate of substantial completion by Landlord's architect or a certificate of occupancy by the local building authority, notwithstanding that minor or insubstantial details of construction, mechanical adjustment or decoration remain to be performed. If the substantial completion of the Premises by Landlord is delayed in any way by Tenant or Tenant's Representatives, the Premises shall be deemed substantially completed for purposes of this Section on the date when they would have been substantially completed but for such delay.
(b) Tenant's taking possession of the Premises shall be conclusive evidence that the Premises were in good order, condition and repair when Tenant took possession, except for those matters (for which Landlord is responsible as provided in this Lease) of which Tenant gives Landlord notice within 10 days after taking possession. Landlord shall complete or repair such matters as soon as reasonably possible.
(c) If Landlord is unable to deliver possession of the Premises to Tenant within 180 days after the Expected Commencement Date (the Outside Commencement Date), then Tenant, as its sole remedy, may terminate this Lease by notice to Landlord given within 10 days after the Outside Commencement Date. The Outside Commencement Date shall be extended by the period of any delay described in Section 1(a). Landlord shall not be liable to Tenant or any third party for its failure to deliver possession of the Premises to Tenant. If the Commencement Date does not occur within one year after the Expected Commencement Date, this Lease shall terminate and Landlord and Tenant shall have no further obligations to the other, except as may otherwise be provided in this Lease.
(d) After the Commencement Date has been determined, Landlord and Tenant shall execute a supplemental agreement specifying the Commencement Date, Termination Date and such other information as Landlord shall reasonably require.
Commencement of Term. The Term commences upon the Commercial Operation Date.
Commencement of Term. The Term (hereinafter defined) of this Agreement shall commence upon the performance of the first clinical Gamma Knife procedure at the Site (the "Commencement Date"). Medical Center shall become liable to GKF for the payments referred to in Paragraph 7 hereinbelow upon the Commencement Date.
Commencement of Term. The term of this Lease and the payment of rent and other performances in accordance with the terms of this Lease shall commence on the date hereof.
Commencement of Term. The commencement of the Term of this Lease under which Tenant shall be obligated to commence payment of Minimum Rent and Additional Rent shall be on or about June 1, 2005 (“Commencement Date”). The commencement and ending of the term will be placed in an addendum to the lease after the certificate of occupancy is issued.
Commencement of Term. The Term shall commence upon Initial Operation (as defined below).
Commencement of Term. The commencement of the Term of this Lease under which Tenant shall be obligated to commence payment of Minimum Rent and Additional Rent shall be the 12th day of March, 2007 (“Commencement Date”).
Commencement of Term. If through circumstances beyond the Landlord's control, the Landlord is unable to give Tenant possession of the premises on the date set as the commencement date of the term, the Landlord shall not be liable for any damages to the Tenant and this Lease shall continue in full force and effect and possession of the premises will be given as soon as reasonably convenient to the Landlord. Notwithstanding such delay, the term of the Lease will nonetheless end as previously stated. In case of such delay, however, the Landlord will allow the Tenant a pro-rata abatement of rent. If at the commencement of the term of the Lease, there remains painting or minor repairs still to be completed, the Landlord may give the Tenants possession and will complete such painting and minor repairs when convenient to the Landlord. There will be no abatement or diminution of rent in such case.
Commencement of Term. The Term applicable to any Site Specific PPA shall commence on the date specified in such Site Specific PPA and shall terminate as provided in Section 2.3.
Commencement of Term. The commencement of the Term of this Lease under which Tenant shall be obligated to commence payment of Minimum Rent and Additional Rent shall be the Rent Commencement Date, January 1, 2000. Length of the Term. The term of this lease period is for ten (10) years starting on January 1, 2000 and ending on December 31, 2009.