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Initial Term Loan
Initial Term Loan contract clause examples

Initial Term. Sublandlord does hereby lease and demise to Subtenant, and Subtenant does hereby lease and accept from Sublandlord, the Subleased Premises for a term (the “Sublease Term”) commencing on the “Commencement Date” of the Master Lease (the “Sublease Commencement Date”) and terminating at the end of the 60th full month thereafter (the “Sublease Termination Date”), subject to extension or earlier termination pursuant to the terms of the Master Lease or this Sublease.

Subject to and in accordance with all of the terms, covenants and conditions of this Sublease, Sublandlord hereby subleases the Subleased Premises to Subtenant, and Subtenant hires and accepts the Subleased Premises from Sublandlord, for a term (the “Sublease Term”) to commence on the Sublease Commencement Date; which is the later of i) April 1, 2020 or ii) the Monday immediately following Subtenant’s receipt of Master Landlord’s Consent to Sublease, and to expire on January 14, 2023 (the “Sublease Expiration Date”), both dates inclusive, unless the Sublease Term shall sooner end pursuant to any of the terms, covenants and conditions of this Sublease or the Prime Lease.

Sublease Term. This Sublease shall be for a term (the “Sublease Term”) commencing on the date that is forty-five (45) days following Sublandlord’s and Subtenant’s receipt of the fully-executed Master Landlord’s Consent (the “Start Date”), and ending on January 31, 2024 (the “End Date”), unless terminated earlier in accordance with the terms of this Sublease. Upon Sublandlord’s delivery of the Subleased Premises to Subtenant, Sublandlord and Subtenant shall complete and execute the Delivery Agreement attached hereto as Exhibit B, confirming the Start Date and the End Date.

Term. Subject to obtaining the Master Lessor Consent, the term of this Sublease (the “Term”) shall commence on the Commencement Date, and shall expire on January 31, 2022 (the “Expiration Date”), unless this Sublease is sooner terminated pursuant to its terms, or the Term is extended as provided in Paragraph 3.B below. Notwithstanding the foregoing, if there is a delay in the commencement of the Master Lease with respect to the Sublease Premises beyond November 30, 2019, then the Commencement Date and Expiration Date shall both be extended on a day-for-day basis for the extent of such delay. Provided Sublessee remains in possession of the Sublease Premises under the Prior Sublease, Sublessor shall be deemed to have delivered possession of the Sublease Premises under this Sublease at 12:01 a.m. on the Commencement Date. Except as otherwise provided in [Section 14.7] of the Master Lease, this Sublease shall automatically terminate immediately upon any termination of the Master Lease.

the date Sublandlord delivers the Subleased Premises to Subtenant in the condition required under this Sublease (the “Sublease Commencement Date”), and ends on 19 May 2025 (the “Expiration Date”), unless this Sublease is sooner terminated pursuant to its terms. The parties hereby acknowledge that the expiration date of the Master Lease is 19 May 2025 and that Subtenant has no option to extend the Term of this Sublease. Promptly upon the occurrence of the Sublease Commencement Date, Sublandlord and Subtenant shall execute and deliver a letter confirming the actual Sublease Commencement Date, but the failure by either party to execute and deliver such a letter shall have no effect on the actual Sublease Commencement Date, as hereinabove determined.

TERM. The term of this Sublease shall commence upon mutual execution of the Sublease and five (5) days after obtaining approval of Master Lessor ("Commencement Date") and expiring on September 30, 2020 (the “Sublease Term”). Notwithstanding the foregoing, Sublessee will commence subleasing the Expansion Premises on April 1, 2020 (“Expansion Premises Commencement Date”) and expiring on September 30, 2020.

The term of this Sublease (the “Term”) shall commence five (5) days after the date on which Sublandlord notifies Subtenant in writing that it has received the Prime Landlord Consent (as hereinafter defined) and delivers the Subleased Premises to Subtenant (the “Commencement Date”), and shall expire on July 31, 2025 (the “Expiration Date”) or on such earlier date as this Sublease may expire or terminate pursuant to the terms hereof or by law. Promptly after the occurrence of the Commencement Date, the parties shall agree in writing on the date of the Commencement Date.

The term of this Sublease (the “Term”) shall commence on July 1, 2021 (the “Commencement Date”), or 3 business days following the date upon which Master Landlord consents in writing to this Sublease, whichever shall last occur. The Term shall expire on April 30, 2026 (the “Expiration Date”), unless otherwise sooner terminated in accordance with the provisions of this Sublease. In the event that the Term commences on a date other than the Commencement Date, Sublandlord and Subtenant shall execute a memorandum setting forth the actual date of commencement of the Term. Possession of the Sublease Premises (“Possession”) shall be delivered to Subtenant on the Commencement Date. If, for any reason, Sublandlord does not deliver Possession to Subtenant on the Commencement Date, # Sublandlord shall not be subject to any liability for such failure, # the Expiration Date shall not be extended by the delay, and # the validity of this Sublease shall not be impaired, but Base Rent shall abate per diem until delivery of Possession. Notwithstanding the foregoing, if Sublandlord has not delivered Possession to Subtenant within 30 days after the Commencement Date, then, at any time thereafter and before delivery of Possession, Subtenant may give written notice to Sublandlord of Subtenant’s intention to cancel this Sublease. Said notice shall set forth an effective date for such cancellation which shall be not less than 10 days after delivery of said notice to Sublandlord. If Sublandlord fails to deliver Possession to Subtenant on or before such

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