Commencement

Com*mence"ment (?), n. [F. commencement.] 1. The first existence of anything; act or fact of commencing; rise; origin; beginning; start.

The time of Henry VII. . . . nearly coincides with the commencement of what is termed "modern history."
Hallam.

2. The day when degrees are conferred by colleges and universities upon students and others.