Commencing on the Clause Samples
The "Commencing on the" clause establishes the specific date or event upon which the obligations or terms of an agreement begin to take effect. In practice, this clause might specify that the contract starts on a certain calendar date, upon the occurrence of a particular event, or after the fulfillment of a condition precedent. By clearly defining the commencement point, this clause ensures that all parties understand when their rights and responsibilities under the agreement are activated, thereby preventing confusion or disputes regarding the effective start of contractual obligations.
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Commencing on the. Closing Date and until the Termination Date, each Corporate Credit Party shall cause to be deposited directly all cash, checks, notes, drafts or other similar items relating to or constituting proceeds of or payments made in respect of any and all Collateral into the blocked account in such Credit Party's name (collectively, the "Blocked Accounts") set forth in paragraph 1 of Attachment I hereto.
Commencing on the. Closing Date and until the Termination Date, each Corporate Credit Party shall cause to be deposited directly all cash, checks, notes, drafts or other similar items relating to or constituting proceeds of or payments made in respect of any and all Collateral (a) prior to the occurrence of an Event of Default, into blocked accounts (collectively, the "Blocked Accounts") in such Credit Party's name set forth in paragraph 1 of Attachment I hereto, and (b) after the occurrence of an Event of Default, into lock boxes in Lender's name (collectively, the "Lock Boxes") .
Commencing on the. First Commercial Sale of any Product, Licensee shall and shall ensure that its Affiliates and their respective Strategic Partners and Sublicensees shall keep true and accurate records and books of account containing all data necessary for the confirmation of the calculation of royalties payable to Lonza, for a duration of [*] years from the date of origination of such records and books. Such records and books of account shall, upon reasonable notice having been given by Lonza (which in no event shall be less than [*] days’ prior notice) during the term of this Agreement and for [*] years thereafter, be open at all reasonable times during regular business hours for inspection by independent certified public accountants acting as auditors selected and paid for by Lonza and reasonably acceptable to Licensee. The independent auditor shall inspect and disclose to Lonza only information relating to the amounts which the accountant believes to be due and payable under this Agreement to Lonza, details concerning any discrepancy from the amount paid and the amount due, and shall disclose no other information revealed in such audit. All information and materials obtained or examined by the independent auditor shall be deemed Licensee’s Confidential Information and may not be used or disclosed except as expressly provided in this Clause 6. Any such audit shall be conducted in a manner that does not interfere unreasonably with the operations of Licensee’s business. Lonza may perform an audit through the independent auditor once each twelve-month period. Each audit shall begin upon the date agreed to by the Parties and shall be completed as soon as reasonably practicable. Lonza shall pay the costs of the independent auditors conducting such audit, unless the results of the audit reveal an underpayment of [*] or more by Licensee, in which case, Licensee shall pay the actual and reasonable costs of the independent auditors. Results of any audit shall be made available to both Licensee and Lonza. If an audit concludes that an overpayment or underpayment has occurred during the audited period, such payment shall be remitted by the Party responsible for such payment to the other Party within [*] days after the date such auditor’s written report identifying the overpayment or underpayment is delivered to the Party responsible for such payment.
Commencing on the. Execution Date and for each of the first two years of the Term, Buyer shall be permitted to apply, in advance, an aggregate TNS Service Credit equal to /***/ of Buyer's Purchase Commitment level, each year, provided that Buyer shall apply no more than /***/ of the allotment for such year during the first quarter. For example, Buyer will be entitled to take total TNS Service Credits up to /***/ hereunder. Accordingly, Buyer may apply advance credits of up to /***/ (i.e., /***/ x /***/ x /***/) in each of the first two years of the Term, provided that no more than /***/ (i.e., /***/ x /***/) may be used in the first quarter of any given year of the Term.
Commencing on the. Second Expansion Premises Commencement Date and continuing during the Term, Tenant shall have the right to use the furniture belonging to Landlord located within the Second Expansion Premises on the Second Expansion Premises Commencement Date ("Landlord's Furniture"). Tenant shall have no right to remove any of Landlord's Furniture from the Second Expansion Premises without Landlord’s prior written consent and Landlord’s Furniture shall be returned to Landlord at the expiration or earlier termination of the Term in substantially the same condition as received by Tenant, except for ordinary wear and tear and casualty. Notwithstanding the foregoing, if, at any time during the Term, Tenant does not want to use certain items of Landlord’s Furniture, Tenant shall notify Landlord in writing of such item(s) (“Furniture Removal Notice”) and Landlord shall cause such item(s) of Landlord’s Furniture identified in the Furniture Removal Notice to be removed from the Premises. The cost of the removal of such item(s) of Landlord’s Furniture shall be the responsibility of Landlord only if Tenant delivers a Furniture Removal Notice to Landlord within 30 days after the Second Expansion Premises Commencement Date. Thereafter, the cost of the removal of such item(s) of Landlord’s Furniture shall be the responsibility of Tenant. Except as set forth in the Lease or this Fourth Amendment: (i) Tenant shall accept the Second Expansion Premises and Landlord’s Furniture in their condition as of the Second Expansion Premises Commencement Date, subject to all applicable Legal Requirements; (ii) Landlord shall have no obligation for any defects in the Second Expansion Premises or Landlord’s Furniture; and (iii) Tenant’s taking possession of the Second Expansion Premises and Landlord’s Furniture shall be conclusive evidence that Tenant accepts the Second Expansion Premises and Landlord’s Furniture, and that the Second Expansion Premises and Landlord’s Furniture were in good condition at the time possession was taken. Tenant agrees and acknowledges that, except as otherwise expressly set forth in this Fourth Amendment or in the Lease, neither Landlord nor any agent of Landlord has made any representation or warranty with respect to the condition of all or any portion of the Second Expansion Premises or Landlord’s Furniture, and/or the suitability of the Second Expansion Premises or Landlord’s Furniture for the conduct of Tenant’s business, and Tenant waives any implied warranty that the...
Commencing on the. Rent Commencement Date and continuing throughout the Lease Term, Tenant hereby agrees to pay all Rent due and payable under this Lease. As used in this Lease, the term "Rent" shall mean the Base Rental, Tenant's Forecast Additional Rental, Tenant's Additional Rental, and any other amounts that Tenant assumes or agrees to pay under the provisions of this Lease that are owed to Landlord, including without limitation any and all other sums that may become due by reason of any default of Tenant or failure on Tenant's part to comply with the agreements, terms, covenants and conditions of this Lease to be performed by Tenant. Base Rental and Tenant's Forecast Additional Rental shall be due and payable in twelve (12) equal installments on the first day of each calendar month, commencing on the Rent Commencement Date and continuing thereafter throughout the Lease Term and any extensions or renewals thereof. Tenant hereby agrees to pay such Rent to Landlord at Landlord's address as provided herein (or such other address as Landlord designates from time to time) monthly in advance. Tenant shall pay all Rent and other sums of money which are due and payable by Tenant to Landlord at the times and in the manner provided in this Lease, without demand, set-off, counterclaim or abatement (except as specifically provided to the contrary herein).
Commencing on the. Closing Date and until the Termination Date, each Corporate Credit Party shall cause to be deposited directly all cash, checks, notes, drafts or other similar items relating to or constituting proceeds of or payments made in respect of any and all Collateral into the lockbox of Lender at Bank of America, in the name of Lender, at P.O. ▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇-▇▇▇▇ ▇▇ at such other lockbox designated from time to time by Lender (collectively, the "Lock Box Accounts").
Commencing on the. Closing Date and until the Termination Date, each Corporate Credit Party shall cause to be directly deposited promptly all cash, checks, notes, drafts or other similar items relating to or constituting proceeds of or payments made in respect of any and all Collateral (including proceeds from the Sale/Leaseback Transaction and from the Melt Shop Sale) into lock boxes or lock box accounts in such Credit Party's or Lender's name (collectively, the "Lock Box Accounts") set forth in PARAGRAPH 1 of ATTACHMENT I hereto, and commencing on the Funding Date and until the Termination Date, (a) all amounts in the Lock Box Accounts shall be swept daily by wire transfer to the Collection Account, and (b) the daily sweeps received in the Collection Account shall be applied pursuant to SECTION 1.9.
Commencing on the first (1st) day of the second (2nd) Lease Year and on the first day of each and every Lease Year thereafter during the Lease Term, the annual base rent shall be increased by two and seventy-five one-hundredths percent (2.75%) of the amount of annual base rent payable for the immediately preceding Lease Year.
Commencing on the first (1st) day of the second (2nd) Lease Year and on the first day of every Lease Year thereafter during the Lease Term, the Base Rent described in Section 1.6 above (as such Base Rent shall have been increased previously) shall be increased to the amount equal to one hundred two and one-half percent (102-1/2%) of the Base Rent in effect under this Lease immediately prior to the commencement of such Lease Year. The calculations of adjustments to Base Rent shall be made without regard to any abatement of rent provided in this Lease. The monthly installments of Base Rent