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Samples in periodicals archive:
Landlord argued that the $725 charge in question represented a half-month's rent and was permissible because landlord gave tenant access to the apartment one-half month before the lease commencement date.
i) Leasing term: the leasing term shall be divided into construction period and operation period for a total term of 15 years; (ii) Construction period: the construction period shall commence from the lease commencement date, i.
The lease will address at what point rent commences, as it is common for rent commencement and lease commencement dates to be different.
Historically, and consistent with industry practice, the Company had recognized the straight line rent expense for leases beginning on the earlier of the store opening date or the lease commencement date, which had the effect of excluding the construction period of its stores from the calculation of the period over which it expensed rent.
By changing the lease commencement date (line 20) or the date on which rental payments begin (line 22), the analyst may quickly determine the effect of these dates on the annual contract rent over the lease term (lines 96, 131, 165), and the time value of money reflected in net present value (lines 112, 147, 181).
The lease commencement date which is separate from the closing date is the earlier of the substantial completion date, as certified by an independent engineer, and the second debt service payment.
Tenant knew that the lease commencement date was contingent on the condo building waiving its right of first refusal to rent the apartment, and that the condo had 30 days to act on the application even though the lease was signed less than 30 days in advance of the lease commencement date.
Similarly, the likelihood of payments being made based on the circumstances in effect as of the lease commencement date is also relevant.