Base Rent for the Extended Term Clause Samples
The "Base Rent for the Extended Term" clause defines the amount of rent that will be payable by the tenant if the lease is renewed or extended beyond its original term. Typically, this clause outlines how the new base rent will be calculated, such as referencing a fixed percentage increase, tying it to market rates, or specifying a predetermined schedule. By clearly establishing the rent for the extended period, this clause provides predictability for both landlord and tenant and helps prevent disputes over rental amounts during lease renewals.
Base Rent for the Extended Term. (a) If the Landlord sends a Rent Notice, the Base Rent for the Extended Term shall be as set forth in the Rent Notice and consistent with Section 35.1 above.
(b) If the Landlord sends a FMV Rent Notice, the Tenant shall have 21 days after receipt of the FMV Rent Notice in which to send Landlord a written dispute as to the proposed Base Rent specified in the FMV Rent Notice. If Tenant agrees to pay such new Base Rent or if Tenant does not send a written dispute of the new Base Rent specified in the FMV Rent Notice within such 21 day period, Tenant shall be deemed to have agreed to pay such Base Rent. If Tenant sends Landlord a written dispute as to the Base Rent proposed in the FMV Notice, the Base Rent for the Extended Term shall be determined pursuant to the arbitration system set forth in Article 35.3 below.
Base Rent for the Extended Term. As of the Effective Date, the schedule of Base Rent payable with respect to the Premises during the Extended Term is the following: April 1, 2009 through March 31, 2010 $ 26.28 $ 7,025.52 April 1, 2010 through March 31, 2011 $ 26.28 $ 7,025.52 Wilshire State Bank First Amendment To Lease (March 30, 2009) On April 1, 2011, and annually thereafter, the Monthly Base Rent shall be increased by the year-over-year increase in the Consumer Price Index of the Bureau of Labor Statistics (1982-84 = 100) of the U.S. Department of Labor for CPI (all items for Urban Wage Earners and Clerical Workers, for Los Angeles-Riverside-Orange County). Accordingly, an increase in the Consumer Price Index is computed by dividing the Consumer Price Index for the calendar month immediately preceding the adjustment by the Consumer Price Index for the calendar month immediately preceding the prior 12 month period. The resulting increases in Monthly Base Rent however, shall be at least two percent (2%) per annum over the prior Monthly Base Rent, but shall not exceed three percent (3%) per annum over the prior Monthly Base Rent.
Base Rent for the Extended Term. (a) If the Landlord sends a Rent Notice, the Base Rent for the Extended Term shall be as set forth in the Rent Notice and consistent with Section 35.1 above.