Common use of Adjustment for Tenant Improvement Allowance Clause in Contracts

Adjustment for Tenant Improvement Allowance. If in determining Fair Market Rent the parties or the arbitrators, as applicable, determine that the economic terms of leases of comparable space include a tenant improvement allowance, Lessor may, at Lessor's sole option, elect to do the following: (i) Grant some or all of the value of the tenant improvement allowance as an allowance for the refurbishment of the improvements on the Premises; and (ii) Reduce the Base Rent component of the Fair Market Rent to be an effective rental rate that takes into consideration the total dollar value of that portion of the tenant improvement allowance that Lessor has elected not to grant to Lessee (in which case that portion of the tenant improvement allowance evidenced in the effective rental rate shall not be granted to Lessee).

Adjustment for Tenant Improvement Allowance. If in determining the Fair Market Rent Rental Value the parties or the arbitrators, as applicable, determine that the economic terms of leases of comparable space include a tenant improvement allowance, Lessor Landlord may, at LessorLandlord's sole option, elect to do the following: (ia) Grant some or all of the value of the tenant improvement allowance as an allowance for the refurbishment of the improvements on the Premises; and (iib) Reduce the Base Rent base rent component of the Fair Market Rent Rental Value to be an effective rental rate that takes into consideration the total dollar value of that portion of the tenant improvement allowance that Lessor Landlord has elected not to grant to Lessee Tenant (in which case that portion of the tenant improvement allowance evidenced in the effective rental rate shall not be granted to LesseeTenant).

Adjustment for Tenant Improvement Allowance. If in determining the Fair Market Rent Rental Value the parties or the arbitrators, as applicable, determine that the economic terms of renewal leases of comparable space include a tenant improvement allowance, Lessor Landlord may, at LessorLandlord's sole option, elect to do the following: : (ia) Grant grant some or all of the value of the tenant improvement allowance as an allowance for the refurbishment of the improvements on the Premises; and and (iib) Reduce reduce the Base Rent base rent component of the Fair Market Rent Rental Value to be an effective rental rate that takes into consideration the total dollar value of that portion of the tenant improvement allowance that Lessor Landlord has elected not to grant to Lessee Tenant (in which case that portion of the tenant improvement allowance evidenced in the effective rental rate shall not be granted to LesseeTenant).