Base Rent During Extended Term. Lessor and Lessee hereby agree that §51(a) of the Lease, as amended, shall be supplemented to provide the Base Rent for the Extended Term by adding the following two rows to the bottom of the chart displaying the Base Rent Schedule: February 1, 2018 February 1, 2018 – January 31, 2019 126,715 SF x $1.18 SF/NNN $ 149,523.70 February 1, 2019 February 1, 2019 – January 31, 2020 126,715 SF x $1.22 SF/NNN $ 154,592.30
Base Rent During Extended Term. If Lessee elects to extend the ------------------------------ Lease term pursuant to Section 1.3(d) of this Addendum, the Base Rent payable by Lessee for the Extended Term shall be in an amount equal to the fair market rental value of the Premises in relation to market conditions at the time of the commencement of the Extended Term (including, but not limited to, rental rates for comparable space within a six mile radius of the Premises with comparable tenant improvements and taking into consideration any adjustments to rent based upon direct costs (operating expenses) and taxes, load factors, and/or cost of living or other rental adjustments, the relative strength of the tenants; the size of the space; rental concessions and tenant improvement allowances then being offered for other space (Lessee hereby acknowledging that Lessor is not obligated to provide an improvement allowance for the Extended Term), and any other factors which affect market rental values at the time of the commencement of the Extended Term, but without taking into consideration to the value of any leasehold improvements installed in the Premises by Lessee at Lessee's sole cost); however, the Base Rent payable during the Extended Term shall in no event be lower than the Base Rent payable during the month immediately prior to the commencement of the Extended Term.
Base Rent During Extended Term. (i) For purposes hereof, “Adjustment Date” means the date which is the commencement date of each Extended Term. On each Adjustment Date, the monthly Base Rent payable for the twelve calendar months following such Adjustment Date shall be determined as follows: Take the monthly Base Rent in effect immediately prior to such Adjustment Date and multiply it by a fraction, the numerator of which is the CPI Index (hereinafter defined) published for the calendar month which commenced three months prior to such Adjustment Date and the denominator of which is the CPI Index published for that same calendar month one year earlier. (Thus, for example, the Base Rent payable for the twelve month period commencing on the first Adjustment Date shall be $0.95 per square foot multiplied by a fraction, the numerator of which shall be the CPI Index published for approximately August, 2006, and the denominator of which shall be the CPI Index published for approximately August, 2005.) Notwithstanding the foregoing, in no event shall the monthly Base Rent in effect after any adjustment be more than 8% nor less than 3% greater than the monthly Base Rent in effect immediately prior to such adjustment.
(ii) As used herein, “CPI Index” means the United States Department of Labor’s Bureau of Labor Statistics’ Consumer Price Index, All Urban Consumers and Clerical Workers, All Items, published for the Xxx Xxxxxxxxx-Xxxxxxx-Xxx Xxxx Xxxx (1982-84 = 100), or the successor to such index. If such index is discontinued entirely, Lessor and Lessee shall agree to another mutually acceptable index used to track changes in the cost of living in the San Francisco Bay Area.
Base Rent During Extended Term. The Base Rent under the Lease during the Extended Term shall be as follows: ----------------------- -------------------------- --------------------------- Months Lease Rate/Month Monthly Base Rent ----------------------- -------------------------- --------------------------- 1-12 $1.40 NNN $134,435 ----------------------- -------------------------- --------------------------- 13-24 $1.45 NNN $139,236.25 ----------------------- -------------------------- --------------------------- 25-36 $1.50 NNN $144,037.50 ----------------------- -------------------------- --------------------------- 37-45 $1.55 NNN $148,838.75 ----------------------- -------------------------- ---------------------------
Base Rent During Extended Term. Beginning on April 1, 2016, and continuing on the first day of each consecutive month thereafter through March 31, 2026, the monthly Base Rent for the Demised Premises for each month shall be the same as the monthly Base Rent which was due for the month beginning March 1, 2016. All sales tax due on the Base Rent shall be paid to Landlord with each installment thereof.
Base Rent During Extended Term. If you exercise an Extended Term option, then you agree to pay to Landlord monthly base rent for the Premises, in advance, without demand, deduction or set off, for such Extended Term at an initial rate equal to 95% of Market Rent with annual market rate escalation specified as part of the determination of Market Rent.
Base Rent During Extended Term. Effective December 21, 1996, the monthly Base Rent during the Extended Term is $31,972.80, which includes during the Extended Term the cost for the 100 parking spaces provided in section 2.2 of the Lease and section 54 of said Addendum to Lease. Monthly Base Rent for any partial month shall be prorated on a daily basis. 4. Parking. During the Extended Term, Lessee shall continue to have right to use 90 spaces at the so called "Church" parking lot and 10 spaces at the Xxxxxxxx parking lot fronting on San Xxxxx Street, as provided in section 54 of said Addendum to Lease, or in each case at another parking location within the radius set forth in section 54 of said Addendum to Lease; however such other location does not have to be in a facility controlled by Xxxxxxxx. The third paragraph (regarding Lessee option to lease up to 30 additional spaces) of section 54 of said Addendum to Lease is of no further force or effect. Neither Lessee nor any of its officers, employees, agents, students or invitees shall have any right to park without cost at the Office Building Project. Notwithstanding the deletion of Lessee's option to purchase up to 30 additional parking spaces under the third paragraph of section 54 of said Addendum, Lessor agrees to cooperate in good faith with Lessee in connection with Lessee's efforts to lease up to thirty (30) additional parking spaces at any parking facility within a two (2) block radius of the Building; provided, however, that (i) Lessee acknowledges and agrees that providing or obtaining all or any portion of such additional spaces is not an obligation of Lessor nor a condition to the performance of any obligation of Lessee, (ii) if all or any number of such additional spaces are made available to Lessee, Lessee shall be solely responsible for all costs and expenses for such additional spaces, and (iii) if all or any number of such additional spaces are made available, it may be done on terms and conditions acceptable to Lessor in its good faith but sole and absolute discretion and there is no agreement, guaranty, warranty or requirement that such additional space will be available throughout the term of the Lease, as extended hereby.
Base Rent During Extended Term. If you exercised an Extended Term option, then you agree to pay to Landlord monthly base rent for the Premises, in advance, without demand, deduction or set off, for the entire Extended Term hereof at an initial rate equal to 95% of Market Rent, or if greater, at an initial rate equal to 103% of the monthly base rent amount in the last Lease Year of the expiring term. On each Adjustment Date falling within the Extended Term beginning with the Adjustment Date corresponding to the first day of the second Lease Year of the Extended Term, the monthly base rent amount shall increase in accordance with the annual escalations specified as part of the determination of Market Rent.
Base Rent During Extended Term. Subject to the last sentence of the definition of Market Rent, if you exercised an Extended Term option, then you agree to pay to Landlord monthly base rent for the Premises at an initial rate equal to Market Rent. On each Adjustment Date falling within the Extended Term beginning with the Adjustment Date corresponding to the first day of the second Lease Year of the Extended Term, the monthly base rent amount shall increase in accordance with the fixed rate increases (based on market at the time) specified in Landlord's determination of Market Rent.
Base Rent During Extended Term. If Tenant elects to extend the Lease Term as provided in Paragraph 2.3, then on the first day of each Extended Term (respectively, the “Rent Adjustment Date”) Base Rent shall adjust to the Fair Market Rent, determined as follows. Fair Market Rent shall mean the amount per rentable square foot that a willing comparable tenant would pay and a willing, comparable landlord would accept in an arm’s length transaction, for delivery on or about the applicable delivery of effective date, for comparable, non-renewal, non-expansion space in the Building and in other qualified buildings in the same geographic area, similarly improved, giving appropriate consideration to annual rental rates per rentable square foot, the type of escalation clauses (including, without limitation, operating costs, real estate tax allowances or base year and rental adjustments), rentable abatement or free rent concessions, if any, brokerage commissions, the length of the term, the size and location of the project, building standard work letters and/or tenant improvement allowances, if any, the extent of services provided to the leased premises, the date as of which the Fair Market Rate is to become effective, and other generally applicable terms and conditions of tenancy for comparables sized space. In no event will the Fair Market Rate, impute a value upon leasehold improvements or fixtures installed by Tenant to the extent such leasehold improvements would increase the Fair Market Rate. No later than four months prior to the relevant Rent Adjustment Date, Landlord shall notify Tenant of Landlord’s good faith, reasonable opinion of the Fair Market Rent (expressed in dollars per rentable square foot in the Building in the Premises per year) for the Premises (“Landlord’s Proposed Rent”). Within 30 days after Tenant’s receipt of Landlord’s Proposed Rent, Tenant shall indicate whether or not Tenant accepts Landlord’s Proposed Rent. If Tenant accepts Landlord’s Proposed Rent, then Landlord’s Proposed Rent shall become the Base Rent for the subsequent Extended Term. If Tenant does not accept Landlord’s Proposed Rent, Tenant shall notify Landlord of Tenant’s opinion of the Market Rent for the Premises (“Tenant’s Proposed Rent”). Within ten days after receipt of Tenant’s Proposed Rent, Landlord shall indicate whether or not Landlord accepts Tenant’s Proposed Rent (and if Landlord does so accept, then Tenant’s Proposed Rent shall become the Base Rent for the Premises for the relevant Extended Ter...
