Commencement letter clause samples

The Commencement Date of this Lease Agreement shall be five (5) business days after Landlord obtains a Certificate of Occupancy for the Premises. Landlord shall send Tenant a commencement letter in substantially the same form as shown on Exhibit “A” attached. Tenant shall sign such commencement letter and return it to Landlord indicating its agreement with the terms of such commencement letter. Notwithstanding the above, if there are any discrepancies between such commencement letter and this Lease, this Lease shall govern, except the Commencement Date shall be as set forth in such commencement letter.

3.04Commencement Letter. Promptly following the date on which the Commencement Date has been determined, Landlord and Tenant shall execute and deliver a commencement letter in substantially the form attached hereto as Exhibit D (the “Commencement Letter”), which Commencement Letter shall memorialize the Commencement Date, Rent Commencement Date, Transaction Costs and Termination Date; provided, however, the failure of either party to execute the Commencement Letter shall not affect the rights of either party hereunder.

D. Following the Additional Subleased Premises Commencement Date, Sublandlord may prepare and deliver to Subtenant a commencement letter in the form of Exhibit B attached hereto (the “Commencement Letter”), confirming the Additional Subleased Premises Commencement Date, the Base Rent payable for the Additional Subleased Premises Term and certain other sublease terms with respect to the Additional Subleased Premises. Subtenant shall acknowledge and confirm the Additional Subleased Premises Commencement Date and other sublease terms by executing a copy of the Commencement Letter and returning it to Sublandlord within ten (10) business days after Subtenant’s receipt of the Commencement Letter. If Subtenant fails to sign and return the Commencement Letter to Sublandlord within such ten (10)business day period, the Commencement Letter as sent by Sublandlord shall be deemed to have correctly set forth the Additional Subleased Premises Commencement Date and the other matters addressed in the Commencement Letter. Sublandlord’s failure to send the Commencement Letter shall have no effect on the Additional Subleased Premises Commencement Date.

(d) Within six (6)months following the Commencement Date, Landlord shall deliver to Tenant a Tenant’s Commencement Letter (“Commencement Letter”) in the form as set forth in Exhibit E, attached hereto, as a confirmation only of the information set forth therein, which Tenant shall execute and return to Landlord within fifteen (i 5) business days of receipt thereof (provided that if said notice is not factually correct, then Tenant shall make such changes as are necessary to make the notice factually correct and shall thereafter execute and return such notice to Landlord within such fifteen (15)business day period). If Landlord fails to respond to Tenant’s revised notice within ten (10)days business days following Landlord’s receipt thereof, then Tenant shall request Landlord’s confirmation of Tenant’s changes in writing (the “Request for Confirmation of Commencement Letter”), which Request for Confirmation of Commencement Letter shall state in bold print that Landlord’s failure to respond within five (5)business days following Landlord’s receipt thereof shall be deemed to be Landlord’s approval of the Commencement Letter as revised by Tenant. Such modified Commencement Letter shall be binding unless Landlord within five (5)business days following receipt of the Request for Confirmation of Commencement Letter sends a notice to Tenant rejecting Tenant’s changes, whereupon this procedure shall be repeated until the parties mutually agree upon the contents of the Commencement Letter. In the event Landlord shall fail to send Tenant the Commencement Letter within six (6)months following the Commencement Date, Tenant may send to Landlord notice of the occurrence of the Commencement Date substantially in the form of the Commencement Letter, which Commencement Letter Landlord shall acknowledge by executing a copy of the Commencement Letter and returning it to Tenant (provided that if said Commencement Letter is not factually correct, Landlord shall make such reasonable changes to the Commencement Letter as are necessary to make such Commencement Letter factually correct, which revised Commencement Letter shall thereafter be subject to the procedure for finalization set forth in this Paragraph 1(d)). Once the Commencement Letter is executed and delivered by Landlord and Tenant, the same shall be binding upon Landlord and Tenant.

Upon Substantial Completion of the Tenant Improvements, Landlord shall prepare and deliver to Tenant, a factually correct Commencement Letter in the form of Exhibit E attached hereto (the “Commencement Letter”) which Tenant shall acknowledge by executing a copy and returning it to Landlord. If Tenant fails to sign and return the Commencement Letter to Landlord within ten (10) days of its receipt from Landlord, the Commencement Letter as sent by Landlord shall be deemed to have correctly set forth the Commencement Date and the other matters addressed in the Commencement Letter. Failure of Landlord to send the Commencement Letter shall have no effect on the Commencement Date.

(b)Landlord and Tenant each shall, promptly after the Commencement Date has been determined, execute and deliver to the other a written statement in the form attached hereto as Exhibit E (the “Commencement Letter”), setting forth (i) the Commencement Date and the Expiration Date; and (ii) the other matters referenced in such Commencement Letter.The enforceability of this Lease shall not be affected and the term of this Lease shall commence on the Commencement Date and end on the Expiration Date, whether or not the Commencement Letter is executed.