BASIC RENT ADJUSTMENT. Omitted.
BASIC RENT ADJUSTMENT. Commencing with the second Rental Year and continuing each Rental Year thereafter for the remainder of the Term, including any Extension Term, the Basic Rent shall be increased by an amount equal to the product of the Basic Rent Adjustment and the Basic Rent paid by Tenant during the Rental Year preceding each annual increase.
BASIC RENT ADJUSTMENT. A. Consumer Price Index. Deleted.
BASIC RENT ADJUSTMENT. The Basic Rent shall remained fixed for the initial term of the lease.
BASIC RENT ADJUSTMENT. Basic Rent shall be adjusted in accordance with the schedule set forth in Section 1.4 of the Lease and Exhibit D.
BASIC RENT ADJUSTMENT. If the Initial Term of this Lease does not commence on the first day of a calendar month or end on the last day of a calendar month, the installment of Basic Rent for the partial calendar month at the commencement or the termination of the term shall be prorated on the basis of the number of days within such calendar month.
BASIC RENT ADJUSTMENT. It is understood and agreed that upon the exercise of the Option (see Paragraph 2 of this Lease) the Basic Rent and Additional Rent for the Premises as of the relevant Option period commencement date, the Basic Rent provided for in Paragraph 4 A of the Lease shall be analyzed to establish current fair market rate and new Basic Rent. The new Basic Rent will be at 100% of the fair market value. If it becomes necessary to determine fair market value for the Premises by appraisal, real estate appraiser(s) all of who shall be members of the American Institute of Real Estate Appraisers, and who have at least 5 years experience appraising “R&D - Flexible type” space in the vicinity of the Premises shall be appointed and shall act in accordance with the following procedure:
(i) If the parties are unable to agree on the Fair Market Rent within the allowed time, either party may demand an appraisal by giving written notice to the other party, which to be effective must state the name, address, and qualifications of an appraiser selected by the notifying party demanding an appraisal (the “Notifying Party”). Within ten (10) days following the Notifying Party’s Appraisal demand, the other party (the “Non-Notifying Party”) shall either approve the appraiser selected by the notifying party, or select a second properly qualified appraiser by giving written notice of the name, address, and qualification of said appraiser to the Notifying Party. If the Non-Notifying party fails to select and appraiser within the ten (10) day period, the appraiser selected by the Notifying Party shall be deemed selected by both parties and no other appraiser shall be selected. If two appraisers are selected, they shall select a third appropriately qualified appraiser. If the two appraisers fail to select a third qualified appraiser, the third appraiser shall be appointed by the then presiding judge of the county where the Premises are located upon application by either party.
(ii) If only one appraiser is selected, that appraiser shall notify the parties in simple letter form of its determination of the Fair Market Rent for the Premises within fifteen (15) days following his selection, which appraisal shall be conclusively determination and binding on the parties as the appraised Fair Market Rent.
(iii) If multiple appraisers are selected, the appraisers shall meet not later than ten (10) days following the selection of the last appraiser. At such meeting the appraisers shall attempt to dete...
BASIC RENT ADJUSTMENT. On the first day of each calendar month described in Paragraph 1.H hereof (hereinafter referred to as an "Adjustment Date"), the Basic Rent provided for in Paragraph 4.A above shall be adjusted in accordance with the following formula based on the Consumer Price Index ("CPI") for all Urban Consumers "All Items", San Francisco-Oakland-San Jose (0082-84 = 100, standard reference base) published by the Bureau of Labor Statistics, U.S. Department of Labor (the "Index") published nearest but prior to the first day of the Lease Term or the last previous Adjustment Date, as applicable (the "Beginning Index") and the Index which is published nearest but prior to the current Adjustment Date (the "Adjustment Index"). On each Adjustment Date, the Basic Rent shall be increased by an amount equal to the product obtained by multiplying the then current Basic Rent by a fraction, the numerator of which is the Adjustment Index and the denominator of which is the Beginning Index. On or about each Adjustment Date, the parties shall execute an amendment to the Lease stating the new (adjusted)
BASIC RENT ADJUSTMENT. For the second and each successive Lease Year, three percent (3.0%). Basic Rent shall be payable during the Term in accordance with the following schedule:
BASIC RENT ADJUSTMENT. For the second and each successive Lease Year, three percent (3.0%). Basic Rent shall be payable during the Term in accordance with the following schedule: If the Submeter Commencement Date occurs after the first Lease Year, then (i) the Annual Basic Rent then in effect shall be adjusted to equal the Annual Basic Rent then in effect minus $2.00 per square feet of the Premises (the “Reduced Basic Rent”), and monthly installments thereof shall be adjusted to equal 1/12th of the Reduced Basic Rent, and (ii) at the commencement of the next and each successive Lease Year following the Submeter Commencement Date, Reduced Basic Rent shall be increased by an amount equal to the product of the Basic Rent Adjustment multiplied by the Reduced Basic Rent payable by Tenant during the Lease Year preceding each annual increase, the intent being to give effect to the Basic Rent Adjustment provided in Section 1.5, but using the Reduced Basic Rent as the starting point. The Basic Rent Adjustment shall apply during the original Term and any extended or renewal term of this Lease unless otherwise expressly provided in any amendment to this Lease.
13.4.4 Effective as of the Submeter Commencement Date, Additional Rent shall be adjusted as follows: Base Operating Costs shall be reduced from $5.60 per square feet of the Premises ($181,109.60) to $3.60 per square feet of the Premises ($116,427.60). In addition, the definition of Operating Costs shall be amended to provided that Operating Costs shall not include any electric charges for any premises in the Building either leased or available for lease to tenants.
13.4.5 Promptly following the Submeter Commencement Date, the parties shall enter into an amendment to this Lease confirming the Submeter Commencement Date, and reflecting the changes in Basic Rent and Additional Rent provided herein.
