Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord's determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord's determination of the Option Rent, in good faith objects to Landlord's determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant's objection to the Option Rent (the "Outside Agreement Date"), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant's right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten (10) days after the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with [Sections 2.2.3.1 through 2.2.3.7], below. If Tenant fails to object to Landlord's determination of the
In the presence of the third broker, the determination of the fair market monthly rent by Landlords broker and Tenants broker shall be opened and examined. If the higher of the two determinations is one hundred five percent (105%) or less of the amount set forth in the lower determination, the average of the two (2) determinations shall be the fair market monthly rent, the envelope containing the determination of the fair market monthly rent by the third broker shall be destroyed and the third broker shall be instructed not to disclose his determination. If either partys envelope is blank, or does not set forth a determination of fair market monthly rent, the determination of the other party shall prevail and be treated as the fair market monthly rent. If the higher of the (2) two determinations is more than one hundred five percent (105%) of the amount of the lower determination, the envelope containing the third brokers determination shall be opened. If the value determined by the third broker is the average of the values proposed by Landlords broker and Tenants broker, the third brokers determination of fair market monthly rent shall be the fair market monthly rent. If such is not the case, fair market monthly rent shall be the rent proposed by whichever of Landlords broker or Tenants broker is closest to the determination of fair market monthly rent by the third broker.
Determination of Fair Market Value. For purposes of this [Section 3(b)], fair market value of a share of Applicable Stock (or Common Stock if the Applicable Stock has been automatically converted into Common Stock) as of a particular date (the Determination Date) shall mean:
That following notification of the Ruling, ’s or ’s Exchanged Market Rents determination, whichever is selected by the Neutral Arbitrator as being closer to the Market Rent, shall become the then applicable Option Rent; and
Rent. All Rent and other payments required to be made by Tenant to Landlord hereunder shall be payable to Landlord at Landlords Remittance Address set forth in the Basic Lease Information, or at such other address as Landlord may specify from time to time by written notice delivered in accordance herewith. Tenants obligation to pay Rent and any other amounts to Landlord under the terms of this Lease shall not be deemed satisfied until such Rent and other amounts have been actually received by Landlord.
Base Rent. During the Term, Subtenant shall pay to Sublandlord as base monthly rent ("Base Rent") the following amounts per month (which amounts are equal to $7.25 per rentable square foot per month for one hundred percent (100%) of the Subleased Premises and twenty five percent (25%) of the Shared Area, with an annual increase of 3.5% commencing on the first anniversary of the Commencement Date):
Additional Rent. Subtenant shall pay to Sublandlord its pro rata share (“Pro-Rata Share”) of all “Direct Expenses” (as defined in [Section 4.2.2] of the Master Lease) and costs of utilities under [Section 6.2] of the Master Lease, as incorporated herein, and all amounts other than Base Rent required to be paid by Sublandlord under the Master Lease to perform maintenance or provide utilities with respect to the Subleased Premises and the Shared Area (in each case as if Master Landlord provided the same; including being subject to the terms of [Section 4.2.4] of the Master Lease), as and when such amounts are due under the Master Lease, as incorporated herein. For purposes of this Sublease, Subtenant’s Pro Rata Share is deemed to be 13.97% with respect to the Building, which is equal to 100% of the rentable square feet of the Subleased Premises plus 25% of the rentable square feet of the Shared Area, divided by the square footage of the Building, and 29.23% with respect to the Premises. Sublandlord shall promptly forward to Subtenant all Estimate Statements, Statements, invoices and backup documentation received from Master Landlord regarding “Tenant’s Share” of Direct Expenses under the Master Lease. Subtenant shall also pay to Sublandlord, within thirty (30) days of request by Sublandlord, the entire cost of such amounts to the extent due to the misuse or excess use or negligence, willful misconduct or violation of this Sublease by Subtenant or any of its agents, employees or contractors. In addition, Subtenant shall pay to Sublandlord, within thirty (30) days of request by Sublandlord, the entire cost of Sublandlord’s cost of performing any repairs or maintenance or providing other services to the Subleased Premise or Shared Area specifically requested by Subtenant. All monetary obligations of Subtenant to Sublandlord under this Sublease (other than Base Rent) shall be deemed “Additional Rent.” Base Rent and Additional Rent shall be referred to collectively as “Rent”. Subtenant shall be entitled to its Pro-Rata Share of all credits, if any, given by Master Landlord to Sublandlord for Sublandlord’s overpayment of such amounts, and shall not be required to pay any gross receipts tax on rent payable under the Master Lease.
Base Rent. In addition to the Base Rent payable pursuant to [Section 5.1(a)] of the Lease and all other Rent payable thereunder, Tenant shall pay Base Rent for the Expansion Space in accordance with the following table:
Base Rent. Tenant shall pay the Base Rent in equal monthly installments in advance on the first day of each month during the Lease Term. If the Rent Commencement Date is not the first day of a month, then the Base Rent from the Rent Commencement Date until the first day of the following month shall be prorated on a per diem basis at the rate of one thirtieth (1/30th) of the monthly installment of the Base Rent payable during the month following the Rent Commencement Date, and Tenant shall pay such prorated installment of the Base Rent on the Rent Commencement Date. Base Rent for any partial calendar month upon the early termination of this Lease shall likewise be prorated.
Additional Rent. Except as otherwise provided in this Lease, any additional rent or other sum owed by Tenant to Landlord hereunder, and any cost, expense, damage or liability incurred by Landlord for which Tenant is liable hereunder, shall be considered additional rent payable pursuant to this Lease to be paid by Tenant no later than thirty (30) days after the date Landlord notifies Tenant of the amount thereof.
Rent Roll. A current rent roll (“Rent Roll”) for each of the Properties;
Base Rent. From and after the Expansion Date, Base Rent with respect to the Premises, including the Expansion Space, shall be as follows:
Base Rent. The Base Rent for the Premises will be abated as of the Commencement Date, and Tenant will pay rent for the Suite 500 Premises beginning on the Commencement Date.
Base Rent. Notwithstanding anything to the contrary in the Lease, during the Extended Term, Tenant shall pay, in accordance with the provisions of this Section 5, Monthly Base Rent for the New Premises as follows:
The decision of the Arbitrator(s) shall be made within 30 days after the appointment of a single Arbitrator or the third Arbitrator, as applicable. The decision of the single Arbitrator shall be final and binding upon the parties. The average of the two closest Arbitrators in a three Arbitrator panel shall be final and binding upon the parties. Each party shall pay the fees and expenses of the Arbitrator appointed by or on behalf of such party and the fees and expenses of the third Arbitrator shall be borne equally by both parties. If the Market Rate is not determined by the first day of the Extension Term, then Tenant shall pay Landlord Base Rent in an amount equal to the Base Rent in effect immediately prior to the Extension Term and increased by the Rent Adjustment Percentage until such determination is made. After the determination of the Market Rate, the parties shall make any necessary adjustments to such payments made by Tenant. Landlord and Tenant shall then execute an amendment recognizing the Market Rate for the Extension Term.
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