Adjusted Rent. The Landlord reserves the right, at the end of the Initial Term and any Renewal Terms, to adjust the annual rent based on prevailing market conditions, by increasing the annual rent subject to all City Sites on a non-discriminatory basis between Tenant and all other tenants of city sites. If the Parties cannot agree to the proposed increase in rent, an independent real estate appraiser will be engaged at the expense of Tenant to determine the appropriate increase in rent. Both Parties must agree on the independent appraiser. If the rent is not adjusted at the end of the Initial Term or any Renewal Terms, the same annual rent methodology will remain in effect during the Renewal Term including the annual escalation factor of three percent (3%).
Adjusted Rent. The then-current Rent shall be reviewed and adjusted annually on each Review Date during the Lease Term as follows. On each Review Date, the Base Rent shall be increased by the greater of (i) three percent or (ii) the percentage of change that the Price Index published for the month that is two months prior to the then current Review Date has increased when compared to the Base Index; the “Base Index” for the adjustment shall be the Price Index for the month that is two months preceding the Effective Date. The formula for (ii) shall be: Adjusted Rent = $Base Rent x Index two months prior to Review Date Base Index Should the base period for the Price Index be changed, the Base Index shall be adjusted to the new base period and the adjustment formula will remain the same. In no event shall the Rent for any one-year period be less than the rental for the preceding one-year period.
Adjusted Rent. At the beginning of each Renewal Term throughout the duration of the Lease as renewed and extended, the Rent shall be increased by ten percent (10%) over the previous term’s Rent.
Adjusted Rent. The then-current Rent shall be reviewed and adjusted annually on each anniversary of the Commencement Date (the “Review Date”) during the Term of this Lease based on the change in the Consumer Price Index for All Urban Consumers (CPI-U) for the United States City Average for All Items, 1982-84=100 as published by the U.S. Department of Labor’s Bureau of Labor Statistics or the most closely equivalent successor thereto in the event the Index is terminated or changed (the “Index”). The “Base Index” for the adjustment shall be the Index for the month that is two months preceding the Commencement Date. On each Review Date, the Base Rent shall be increased by the greater of (i) three percent or (ii) the percentage of change that the Index published for the month that is two months prior to the then current Review Date has increased when compared to the Base Index. The formula for (ii) shall be: Adjusted Rent = $Base Rent x Index two months prior to Review Date Base Index Should the base period for the Index be changed, the Base Index shall be adjusted to the new base period and the adjustment formula will remain the same. In no event shall the Rent for any one-year period be less than the rental for the preceding one-year period.
Adjusted Rent. Section 4.1.4 of the Existing Lease is hereby deleted in its entirety, and the following text is substituted therefor:
Adjusted Rent. Adjusted Rent during the Term shall be set forth in Section 1.1 and shall be determined respectively for the 30th, 40th, 50th and 60th anniversaries of the Date of the Lease Execution (June 1, 1992) respectively and, as so determined, remain in effect until the next such anniversary (or, finally, the end of the Term)."
Adjusted Rent. The Building E Rental Rate during each of the two renewal terms shall be $19.50 per square foot, full service.
Adjusted Rent. During the one (1) year period beginning with each -------------- Adjustment Date, the monthly rent payable by Lessee shall reflect an adjustment, as herein provided, for the change, if any, from the year in which the Commencement Date falls, in the Consumer Price Index for Urban Wage Earners and Clerical Workers, Los Angeles area [Base Year 1982 - 84=100] ("CPI") as measured in February and published by the United States Department of Labor, Bureau of Labor Statistics; i.e., during the one (1) year period beginning with the Lease Agreement - Hibernia Page 5 Adjustment Date, the monthly rent shall be the product obtained by multiplying the Base Rent times a fraction, the numerator of which shall be the CPI for February of the year such Adjustment Date falls and the denominator of which shall be the CPI for February of the year in which the Commencement Date falls. Notwithstanding the results of the foregoing calculation, the annual base rent payable by Lessee hereunder shall not in any event be less than 103% of the annual base rent payable during the immediately preceding one (1) year period. In the event that the Bureau of Labor Statistics shall change the base period for the CPI, the new index number shall be substituted for the old index number in making the above computation. In the event the Bureau of Labor Statistics ceases publishing the CPI, or materially changes the method of its computation, Lessor and Lessee shall accept comparable statistics on the purchasing power of the consumer dollar as published at the time of said discontinuation or change by a responsible financial periodical of recognized authority to be chosen by Lessor subject to reasonable consent of Lessee.
Adjusted Rent. If Landlord and Tenant are unable to enter into a separate lease agreement for the lease of the Permanent Space based on the Lease Proposal, notwithstanding their best efforts exercised in good faith to do so (a “Failure to Lease Permanent Space Event”), then the Base Rent shall automatically increase retroactively from the Rent Commencement Date to $525,000.00 per annum payable in monthly installments of $43,750.00. Tenant shall receive a credit against the adjusted rent for all amounts of Base Rent previously paid. In addition to the adjusted Base Rent, Tenant shall be responsible retroactively for the payment to Landlord, as Additional Rent, of Tenant’s pro rata share for the Premises Rentable Area as a percentage of all real estate taxes, insurance and operating expenses pertaining to the Building.
Adjusted Rent. In the event the amount of the Taxes and/or Operating Expenses for any Comparison Year exceed those for the Base Year, the rent for such Comparison Year shall be increased by an amount equal to Lessee's Share of the net aggregate increase in the amount of Taxes and/or Operating Expense for the Comparison Year over those for the Base Year (the "Adjusted Rent"); provided, however, that any increase in Operating Expenses incurred in a Comparison Year resulting solely from the leasing to other tenants in the Buildings of space which was not leased for the entire Base Year, rather than resulting from an increase in costs, shall not be considered as part of Operating Expenses in such Comparison Year. The Adjusted Rent for any Comparison Year shall serve as an estimate of the Adjusted Rent to become due for the next succeeding Comparison Year and this amount shall be paid in twelve equal consecutive monthly installments during such next succeeding Comparison Year. Any overpayments or underpayments of the Adjusted Rent for any Comparison Year shall be settled and accounted for as soon as reasonably possible after the close of such Comparison Year, and Lessor shall furnish Lessee a statement showing such amount of overpayment or underpayment. For any fractional portion of a calendar year at the termination of this Lease, any such overpayment or underpayment shall be settled and accounted for in the same manner (including the furnishing of a statement) as at the end of a Comparison Year, taking into consideration, however, and properly adjusting for the fractional portion of such calendar year. Lessor shall keep and make available to Lessee, for a period of sixty (60) days after statements above referred to are rendered to Lessee, records in reasonable detail of Taxes and Operating Expenses for the period covered by such statement or statements and shall permit Lessee and the representatives of Lessee to examine and audit such statements at any reasonable time during business hours. If Lessee shall dispute any item or items included by Lessor in determining Taxes or Operating Expenses for the Base Year or any Comparison Year, and such dispute is not amicably settled between Lessor and Lessee within thirty (30) days after such statement has been rendered, either party may, during the twenty (20) days next following the expiration of said thirty (30) day period, notify the other of the election to arbitrate said dispute and may then refer such disputed item or items t...
