Common use of Adjusted Rent Clause in Contracts

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 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 DRAFT 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%).