Upon the Commencement Date Clause Samples

Upon the Commencement Date. Landlord shall make available to Tenant the sum of Five Million Dollars ($5,000,000) (the “TI Allowance”) from which Tenant shall be entitled to withdraw funds to pay the cost of Alterations to the Improvements that Tenant elects to make to the Premises, including, without limitation, furnishings, fixtures, equipment, cabling and wiring (the “Tenant Improvements”). The TI Allowance, funded by Landlord on the Commencement Date, shall be deposited into a separate interest-bearing account established by Tenant and, subject to the provisions of this Section 10(c), available for withdrawal by Tenant to fund Alterations to the Premises upon request and Tenant Improvements costs are incurred. For so long as, and provided, Tenant maintains a debt rating on its unsecured long-term debt (“Tenant’s Credit Rating”) of not less than either “BBB (outlook stable)” from Standard & Poor’s Ratings Services, Inc. or “Baa2” from ▇▇▇▇▇’▇ Investors Service, Inc. (the “Minimum Debt Rating”), Tenant shall be entitled to withdraw funds from the TI Allowance account with at least ten (10) days prior written notice to Landlord to pay for Tenant Improvements. If, at any time, Tenant’s Credit Rating is below the Minimum Debt Rating, as a condition to Tenant’s right to withdraw funds from the TI Allowance account, in addition to and concurrently with the required advance written notice to Landlord, Tenant shall also provide to Landlord copies of paid invoices for any Alterations to be paid for from such withdrawal from the TI Allowance account and preliminary or final lien releases and waivers in form that conforms with the requirements of the construction lien laws of the State of California and duly executed by the contractors and subcontracts to whom payment is intended to be funded from such withdrawal. Provided such notice and additional materials and documents are provided, if and as required, Landlord shall allow Tenant to withdraw the requested funds from the TI Allowance account.
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Upon the Commencement Date. Borrower agrees that Borrower’s obligations under this Agreement become irrevocable, and Borrower’s obligation to make all Payments in full when due, becomes absolute and unconditional, without set off, counterclaim, withholding, deduction, or defense of any kind.
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Upon the Commencement Date. OF A LEASE PURSUANT TO SECTION 5 OF THIS MASTER LEASE, AND EXCEPT AS PROVIDED IN SECTION 6, "NON-APPROPRIATION OF FUNDS," THE OBLIGATIONS OF LESSEE TO MAKE LEASE PAYMENTS AND TO PERFORM AND OBSERVE THE OTHER COVENANTS AND AGREEMENTS CONTAINED IN EACH LEASE SHALL BE ABSOLUTE AND UNCONDITIONAL IN ALL EVENTS WITHOUT ABATEMENT, DIMINUTION, DEDUCTION, SET-OFF OR DEFENSE, FOR ANY REASON INCLUDING, WITHOUT LIMITATION, ANY FAILURE OF THE EQUIPMENT TO BE DELIVERED OR INSTALLED, ANY DISPUTES WITH LESSOR OR ANY VENDOR OF ANY EQUIPMENT, DEFECTS, MALFUNCTIONS OR BREAKDOWNS IN THE EQUIPMENT, ANY ACCIDENT, CONDEMNATION, DAMAGE, DESTRUCTION, OR UNFORESEEN CIRCUMSTANCE, OR ANY TEMPORARY OR PERMANENT LOSS OF ITS USE.
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Upon the Commencement Date. Lessee shall accept and occupy the Premises for its intended use, and, except as otherwise provided in Section 7.1 hereof, Lessee shall, at its sole cost, risk, expense and liability, keep and maintain the Premises in good order and repair (including, without limitation, annual treatment of the Building and foundation thereof for termite infestation, provided that other than enforcing Lessee's termite bond on the Building Lessee shall not have any obligation for the repair of termite related damage to the Building), and in compliance with all applicable governmental codes, ordinances and regulations; provided, however, Lessee shall not be responsible for (i) environmental conditions existing on the Premises prior to the Commencement Date, unless caused by Lessee or (ii) compliance with governmental codes, ordinances and regulations applicable to the initial construction and completion of the Premises as provided in Section 40 hereof which were in effect as of the Commencement Date. Lessee shall also (i) keep all sewer and utility lines of the Building, including, without limitation, all sewer connections, plumbing, heating, ventilating and air conditioning equipment and appliances, wiring and glass, in good order and repair; (ii) provide janitorial services for the Building as required by Lessee; (iii) keep the Premises reasonably free from all litter, dirt, debris and obstructions and in a clean and sanitary condition; (iv) maintain the lawns, gardens, sidewalks, driveway and parking lots at the Premises in a clean and! orderly manner and (v) provide Lessor with copies of all maintenance agreements and all quarterly reports of service records.
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Upon the Commencement Date. Lessor shall assign to Lessee, to the extent assignable, all guarantees and warranties given by third parties to Lessor and relating to items in the Premises the maintenance of which is the obligation of Lessee hereunder; provided, however, that to the extent any such guarantees and warranties are in effect after the expiration of the Lease Term, Lessee shall assign the expiration of the Lease Term to Lessor prior to such guarantees and warranties.
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Upon the Commencement Date. Lessee shall accept and occupy the Premises for its intended use, subject to minor punchlist items which do not materially interfere with Lessee's use of the Premises in accordance with Section 4 hereof, and, except as otherwise provided in Section 7.1 hereof, Lessee shall, at its sole cost, risk, expense and liability, keep and maintain the Premises in good order and repair, and in compliance with all applicable governmental codes, ordinances and regulations. Lessee shall also (i) keep all sewer and utility lines of the Building, including, without limitation, all sewer connections, plumbing, heating, ventilating and air conditioning equipment and appliances, wiring and glass, in good order and repair; (ii) provide janitorial services for the Building; (iii) keep the Premises free from all litter, dirt, debris and obstructions and in a clean and sanitary condition; and (iv) maintain the lawns, landscaping, gardens, sidewalks, driveway and parking lots of the Premises in a clean and orderly manner.
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Related to Upon the Commencement Date

  • Commencement Date The Subcontractor shall be permitted to begin the Services on ______________________, 20____ (“Commencement Date”).

  • Service Commencement Date The date the Transmission Provider begins to provide service pursuant to the terms of an executed Service Agreement, or the date the Transmission Provider begins to provide service in accordance with Section 15.3 or Section 29.1 under the Tariff.

  • Rent Commencement Date The "Rent Commencement Date" shall be the date that Tenant first uses the Premises or any portion thereof for any purpose permitted under this lease. In the event this lease pertains to a building or building interior finish to be constructed, the "Rent Commencement Date" shall be the date upon which the buildings and other improvements erected and to be erected upon the premises shall have been substantially completed in accordance with the plans and specifications described on Exhibit "C" attached hereto and incorporated herein by reference, provided however, that if Landlord shall be delayed in such substantial completion as a result of: (i) Tenant's failure to agree to plans, specifications, and cost estimates, within a reasonable period of time; (ii) Tenant's request for materials, finishes or installations other than Landlord's standard; (iii) Tenant's changes in plans; the commencement date and the payment of rent hereunder shall be accelerated by the number of days of such delay, and provided further that if Landlord cannot substantially complete the premises as a result of any events (i) through (iii) above, Landlord may as its election complete so much of Landlord's work as may be practical under the circumstances and, by written notice to Tenant, establish the commencement date as the date of such partial completion, subject to any applicable accelerations due to delays resulting from events (i) through (iii) above. Taking possession by Tenant shall be deemed conclusively to establish that said buildings and other improvements have been completed in accordance with the plans and specifications and that the premises are in good and satisfactory condition, as of when possession was so taken. Tenant acknowledges that no representations as to the repair of the premises have been made by Landlord, unless such are expressly set forth in the lease. After such "Rent Commencement Date" Tenant shall, upon demand, execute and deliver to Landlord a letter of acceptance of delivery of the premises. In the event of any dispute as to substantial completion of work performed, execute or required to be performed by Landlord, the certificate of Landlord's architect or general contractor shall be conclusive.

  • Term Commencement Date For purposes of this Lease, the "Term Commencement Date" shall be defined as the earlier of (A) the first date on which Tenant occupies all or any part of the Premises for the conduct of business, or (B) fourteen (14) days after the date on which both of the following shall occur: (i) Landlord's Work shall be (or be deemed to be) substantially completed (notwithstanding the incompleteness of (x) so-called "punch list" items, (y) work to be undertaken by Landlord which does not materially impair Tenant's use of the Premises for the purposes allowed herein, and (z) finishes and exterior landscaping to the Property), and (ii) a certificate of occupancy has been (or is deemed to have been) issued with respect to the Premises (or the building inspector has (or is deemed to have) provided a verbal "sign off" on Landlord's Work and indicated that a certificate of occupancy will issue in due course). If Tenant (or any agent, employee or contractor of Tenant) causes any delay in the performance or substantial completion of Landlord's Work (including, without limitation, by failing to timely prepare the Construction Drawings), then Landlord's Work shall be deemed to have been substantially completed on the date that Landlord's Work would have been substantially completed but for such delay, and the certificate of occupancy for the Premises (or building inspector "sign off" as aforesaid) shall be deemed to have been issued (or provided) on the date it would have been issued (or provided) but for such delay. Landlord shall use reasonable efforts to substantially complete Landlord's Work by the date (as the same may be modified by Landlord at or prior to the time of its approval of the Construction Drawings as provided in the second paragraph of Section 10.22, the "Estimated Substantial Completion Date") which is ninety (90) days after Landlord's final approval of the Construction Drawings, but Tenant shall not have any claim against Landlord, and Landlord shall have no liability to Tenant, if Landlord's Work is not substantially completed by the Estimated Substantial Completion Date. Notwithstanding the foregoing, if Landlord fails to substantially complete Landlord's Work on or before the date which is sixty (60) days after the Estimated Substantial Completion Date due to Landlord's fault or neglect, then Tenant shall be entitled to a credit (offset) against Base Rent due and payable as of the Term Commencement Date in the amount of one (1) day of Base Rent for each day after the Estimated Substantial Completion Date that Landlord's Work shall not have been substantially completed.

  • Lease Commencement Date The earlier to occur of (i) the date upon which Tenant first commences to conduct business in the Premises, and (ii) the later to occur of (A) November 1, 2018 and (B) the date upon which the Premises are Ready for Occupancy (as that term is defined in Section 5.1 of the Tenant Work Letter attached hereto as Exhibit B (the “Tenant Work Letter”)).