For SOX accounting issues, we have to document specific dates related to
a lease. So, I have a question for folks who deal with leases:
 
What terminology do you use to indicate the following dates in your
leases:
 
1. the date a tenant takes possession of their space
2. the date that begins the term of the lease (i.e., if the lease term
is 3 years, when does that three years start -- what do you call that
date)
3. the date that the rent begins to be paid
 
We are using the terms Lease Commencement Date, Lease Term Commencement
Date and Rent Commencement Date, but there has been some internal
confusion because the first two phrases are similar.
 
I looked in my Real Estate Dictionary, but it doesn't seem that there is
standard industry terminology for these dates.
 
Nolene Sherman
Records Manager
CJ Segerstrom & Sons * South Coast Plaza

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