Common use of Calculation of Base Rent Clause in Contracts

Calculation of Base Rent. The Base Rent will be increased on the first day of the Extension to the fair rental value of the Leased Premises (the "Fair Rental Value"), determined in the following manner: (a) The Fair Rental Value shall be the value agreed on by Landlord and Tenant prior to the date the Extension Option is required to be exercised, if Landlord and Tenant are able to agree. (b) If Landlord and Tenant have not been able to agree on the Fair Rental Value prior to the date the Extension Option is required to be exercised, the Base Rent for the Extension shall be determined in accordance with this subparagraph (b). Within fifteen (15) days following the exercise of the Extension Option, Landlord and Tenant each shall appoint one appraiser. Within ten (10) days after the two appraisers are appointed, they will appoint a third appraiser. If either Landlord or Tenant fails to appoint its appraiser within the prescribed time period, the single appraiser appointed will determine the Fair Rental Value of the Leased Premises in accordance with Section 2(c) below and such other standards used by qualified appraisers in the Dallas-Fort Worth area as may be appropriate. If the two appointed appraisers fail to agree on the third appraiser, the third appraiser will be appointed by the then president of the Greater Dallas Board of Realtors, and all three appraisers will determine the Fair Rental Value of the Leased Premises in accordance with Section 2(c) below and such other standards used by qualified appraisers in the Dallas-Fort Worth area as may be appropriate. Each party will bear the cost of the appraiser appointed by it and the parties will share equally the cost of the third appraiser. All appraisers will be qualified to determine the Fair Rental Value of the Leased Premises.

Calculation of Base Rent. The Base Rent will during the Extension shall be increased on increased, as of the first day commencement of the Extension to the fair rental value of the Leased Premises (the "Rental Adjustment Date") to the "Fair Rental Market Value")" of the Premises, determined in the following manner: : Not later than one hundred (a100) The days prior to the Rental Adjustment Date, Lessor and Lessee shall meet in an effort to negotiate, in good faith, the Fair Market Value of the Premises as of the Rental Adjustment Date. If Lessor and Lessee have not agreed upon the Fair Market Value of the Premises at least ninety (90) days prior to the Rental Adjustment Date, the Fair Market Value shall be determined by the value agreed on by Landlord following appraisal method: /s/ MA -- (i) If Lessor and Tenant Lessee are not able to agree upon the Fair Market Value of the Premises within the time period described above, then Lessor and Lessee shall attempt to agree in good faith upon a single appraiser not later than seventy-five (75) days prior to the date the Extension Option is required to be exercised, if Landlord Rental Adjustment Date. If Lessor and Tenant Lessee are able to agree. (b) If Landlord and Tenant have not been able unable to agree on the Fair Rental Value upon a single appraiser within such time period, then Lessor and Lessee shall each appoint one appraiser not later than sixty-five (65) days prior to the date Rental Adjustment Date, and Lessor and Lessee shall each give written notice to the Extension Option is required to be exercised, other of such appointment at the Base Rent for the Extension shall be determined in accordance with this subparagraph (b). Within fifteen (15) days following the exercise time of the Extension Option, Landlord and Tenant each shall appoint one appraisersuch appointment. Within ten (10) days after thereafter, the two appointed appraisers are appointed, they will shall appoint a third appraiser. If either Landlord Lessor or Tenant Lessee fails to appoint its appraiser and to give written notice thereof to the other party within the prescribed time period, the single appraiser appointed will shall determine the Fair Rental Market Value of the Leased Premises in accordance with Section 2(c) below and such other standards used by qualified appraisers in the Dallas-Fort Worth area as may be appropriatePremises. If the two appointed appraisers both parties fail to agree on appoint appraisers within the third appraiserprescribed time periods, then the third first appraiser will thereafter selected by a party (such selection to be appointed by written notice thereof to such appraiser and the then president of the Greater Dallas Board of Realtors, and all three appraisers will other party) shall determine the Fair Rental Market Value of the Leased Premises in accordance with Section 2(c) below and such other standards used by qualified appraisers in the Dallas-Fort Worth area as may be appropriatePremises. Each party will shall bear the cost of the its own appraiser appointed by it and the parties will shall share equally the cost of the single or third appraiserappraiser if applicable. All appraisers will shall have at least five (5) years' experience in the appraisal of commercial/industrial real property in the area in which the Premises are located and shall be qualified members of professional organizations such as MAI or its equivalent. (ii) For the purposes of such appraisal, the term "Fair Market Value" shall mean the price that a ready and willing tenant would pay, as of the Rental Adjustment Date, as monthly rent, to a ready and willing Lessor of property comparable to the Premises if such property were exposed for lease on the open market for a reasonable period of time and taking into account all of the purposes for which such property may be used. If a single appraiser is chosen, then such appraiser shall determine the Fair Rental Market Value of the Leased Premises. Otherwise, the Fair Market Value of the Premises shall be the arithmetic average of the two (2) of the three (3) appraisals which are closest in amount, and the third appraisal shall be disregarded. Lessor and Lessee shall instruct the appraiser(s) to complete their determination of the Fair Market Value not later than thirty (30) days prior to the Rental Adjustment Date. If the Fair Market Value is not determined prior to the Rental Adjustment Date, then Lessee shall continue to pay to Lessor the Base Rent applicable to the Premises immediately prior to the Rental Adjustment Date until the Fair Market Value is determined. When the Fair Market Value of the Premises is determined, Lessor shall deliver notice thereof to Lessee, and Lessee shall pay to Lessor, within ten (10) days after receipt of such notice, the difference between the Base Rent actually paid by Lessee to Lessor for the period after the Rental Adjustment Date and the new Base Rent determined hereunder effective as of the Rental Adjustment Date. In no event shall the Base Rent be reduced below the Base Rent applicable to the Premises immediately prior to the Rental Adjustment Date.

Calculation of Base Rent. The Base Rent will during the Extension shall ------------------------ be increased on increased, as of the first day commencement of the Extension to the fair rental value of the Leased Premises (the "Rental Adjustment Date") to the "Fair Rental Market Value")" of the Premises, determined in the following manner: Not later than one hundred (100) days prior to the Rental Adjustment Date, Lessor and Lessee shall meet in an effort to negotiate, in good faith, the Fair Market Value of the Premises as of the Rental Adjustment Date. If Lessor and Lessee have not agreed upon the Fair Market Value of thc Premises at least ninety (90) days prior to the Rental Adjustment Date, the Fair Market Value shall be determined by the following appraisal method: (ai) The If Lessor and Lessee are not able to agree upon the Fair Rental Market Value of the Premises within the time period described above, then Lessor and Lessee shall be the value agreed on by Landlord and Tenant attempt to agree in good faith upon a single appraiser not later than seventy-five (75) days prior to the date the Extension Option is required to be exercised, if Landlord Rental Adjustment Date. If Lessor and Tenant Lessee are able to agree. (b) If Landlord and Tenant have not been able unable to agree on the Fair Rental Value upon a single appraiser within such time period, then Lessor and Lessee shall each appoint one appraiser not later than sixty-five (65) days prior to the date Rental Adjustment Date, and Lessor and Lessee shall each give written notice to the Extension Option is required to be exercised, other of such appointment at the Base Rent for the Extension shall be determined in accordance with this subparagraph (b). Within fifteen (15) days following the exercise time of the Extension Option, Landlord and Tenant each shall appoint one appraisersuch appointment. Within ten (10) days after thereafter, the two appointed appraisers are appointed, they will shall appoint a third appraiser. If either Landlord Lessor or Tenant Lessee fails to appoint its appraiser and to give written notice thereof to the other party within the prescribed time period, the single appraiser appointed will shall determine the Fair Rental Market Value of the Leased Premises in accordance with Section 2(c) below and such other standards used by qualified appraisers in the Dallas-Fort Worth area as may be appropriatePremises. If the two appointed appraisers both parties fail to agree on appoint appraisers within the third appraiserprescribed time periods, then the third first appraiser will thereafter selected by a party (such selection to be appointed by written notice thereof to such appraiser and the then president of the Greater Dallas Board of Realtors, and all three appraisers will other party) shall determine the Fair Rental Market Value of the Leased Premises in accordance with Section 2(c) below and such other standards used by qualified appraisers in the Dallas-Fort Worth area as may be appropriatePremises. Each party will shall bear the cost of the its own appraiser appointed by it and the parties will shall share equally the cost of the single or third appraiserappraiser if applicable. All appraisers will shall have at least five (5) years' experience in the appraisal of commercial/industrial real property in the area in which the Premises are located and shall be qualified to members of professional organizations such as MAI or its equivalent. (ii) For the purposes of such appraisal, the term "Fair Market Value" shall mean the price that a ready and willing tenant would pay, as of the Rental Adjustment Date, as monthly rent for the Premises if such property were exposed for lease on the open market for a reasonable period of time and taking into account all of the purposes for which such property may be used. If a single appraiser is chosen, then such appraiser shall determine the Fair Rental Market Value of the Leased Premises. Otherwise, the Fair Market Value of the Premises shall be the arithmetic average of the two (2) of the three (3) appraisals which are closest in amount, and the third appraisal shall be disregarded. Lessor and Lessee shall instruct the appraiser(s) to complete their determination of the Fair Market Value not later than thirty (30) days prior to the Rental Adjustment Date. If the Fair Market Value is not determined prior to the Rental Adjustment Date, then Lessee shall continue to pay to Lessor the Base Rent applicable to the Premises immediately prior to the Rental Adjustment Date until the Fair Market Value is determined. When the Fair Market Value of the Premises is determined, Lessor shall deliver notice thereof to Lessee, and Lessee shall pay to Lessor, within ten (10) days after receipt of such notice, the difference between the Base Rent actually paid by Lessee to Lessor for the period after the Rental Adjustment Date and the new Base Rent determined hereunder effective as of the Rental Adjustment Date. In no event shall the Base Rent be reduced below the Base Rent applicable to the Premises immediately prior to the Rental Adjustment Date.

Calculation of Base Rent. The Base Rent will during the Extension shall be increased on increased, as of the first day commencement of the Extension to the fair rental value of the Leased Premises (the "Rental Adjustment Date") to the "Fair Rental Market Value")" of the Premises, determined in the following manner: Not later than one hundred (100) days prior to the Rental Adjustment Date, Lessor and Lessee shall meet in an effort to negotiate, in good faith, the Fair Market Value of the Premises as of the Rental Adjustment Date. If Lessor and Lessee have not agreed upon the Fair Market Value of the Premises at least ninety (90) days prior to the Rental Adjustment Date, the Fair Market Value shall be determined by the following appraisal method: (ai) The If Lessor and Lessee are not able to agree upon the Fair Rental Market Value of the Premises within the time period described above, then Lessor and Lessee shall be the value agreed on by Landlord and Tenant attempt to agree in good faith upon a single appraiser not later than seventy-five (75) days prior to the date the Extension Option is required to be exercised, if Landlord Rental Adjustment Date. If Lessor and Tenant Lessee are able to agree. (b) If Landlord and Tenant have not been able unable to agree on the Fair Rental Value upon a single appraiser within such time period, then Lessor and Lessee shall each appoint one appraiser not later than sixty-five (65) days prior to the date Rental Adjustment Date, and Lessor and Lessee shall each give written notice to the Extension Option is required to be exercised, other of such appointment at the Base Rent for the Extension shall be determined in accordance with this subparagraph (b). Within fifteen (15) days following the exercise time of the Extension Option, Landlord and Tenant each shall appoint one appraisersuch appointment. Within ten (10) days after thereafter, the two appointed appraisers are appointed, they will shall appoint a third appraiser. If either Landlord Lessor or Tenant Lessee fails to appoint its appraiser and to give written notice thereof to the other party within the prescribed time period, the single appraiser appointed will shall determine the Fair Rental Market Value of the Leased Premises in accordance with Section 2(c) below and such other standards used by qualified appraisers in the Dallas-Fort Worth area as may be appropriatePremises. If the two appointed appraisers both parties fail to agree on appoint appraisers within the third appraiserprescribed time periods, then the third first appraiser will thereafter selected by a party (such selection to be appointed by written notice thereof to such appraiser and the then president of the Greater Dallas Board of Realtors, and all three appraisers will other party) shall determine the Fair Rental Market Value of the Leased Premises in accordance with Section 2(c) below and such other standards used by qualified appraisers in the Dallas-Fort Worth area as may be appropriatePremises. Each party will shall bear the cost of the its own appraiser appointed by it and the parties will shall share equally the cost of the single or third appraiserappraiser if applicable. All appraisers will shall have at least five (5) years' experience in the appraisal of commercial/industrial real property in the area in which the Premises are located and shall be qualified to members of professional organizations such as MAI or its equivalent. (ii) For the purposes of such appraisal, the term "Fair Market Value" shall mean the price that a ready and willing tenant would pay, as of the Rental Adjustment Date, as monthly rent for the Premises if such property were exposed for lease on the open market for a reasonable period of time and taking into account all of the purposes for which such property may be used. If a single appraiser is chosen, then such appraiser shall determine the Fair Rental Market Value of the Leased Premises. Otherwise, the Fair Market Value of the Premises shall be the arithmetic average of the two (2) of the three (3) appraisals which are closest in amount, and the third appraisal shall be disregarded. Lessor and Lessee shall instruct the appraiser(s) to complete their determination of the Fair Market Value not later than thirty (30) days prior to the Rental Adjustment Date. If the Fair Market Value is not determined prior to the Rental Adjustment Date, then Lessee shall continue to pay to Lessor the Base Rent applicable to the Premises immediately prior to the Rental Adjustment Date until the Fair Market Value is determined. When the Fair Market Value of the Premises is determined, Lessor shall deliver notice thereof to Lessee, and Lessee shall pay to Lessor, within ten (10) days after receipt of such notice, the difference between the Base Rent actually paid by Lessee to Lessor for the period after the Rental Adjustment Date and the new Base Rent determined hereunder effective as of the Rental Adjustment Date. In no event shall the Base Rent be reduced below the Base Rent applicable to the Premises immediately prior to the Rental Adjustment Date.

Calculation of Base Rent. The Base Rent will payable by Tenant under the Lease during the Extension shall be increased on increased, as of the first day commencement of the Extension (hereinafter called the "Extension Rental Adjustment Date") to the fair rental value of the Leased Premises (the "Fair Rental Market Value")" of the Premises, determined in the following manner: : Not later than one hundred (a100) The Fair days prior to the Extension Rental Value shall be the value agreed on by Adjustment Date, Landlord and Tenant prior shall meet in an effort to negotiate, in good faith, the date Fair Market Value of the Premises as of the Extension Option is required to be exercised, if Landlord and Tenant are able to agree. (b) Rental Adjustment Date. If Landlord and Tenant have not been agreed upon the Fair Market Value of the Premises at least ninety (90) days prior to the Extension Rental Adjustment Date, the Fair Market Value shall be determined by the following appraisal method: (i) If Landlord and Tenant are not able to agree on upon the Fair Rental Market Value of the Premises within the time period described above, then Landlord and Tenant shall attempt to agree in good faith upon a single appraiser not later than seventy-five (75) days prior to the date the Extension Option is required to be exercised, the Base Rent for the Extension shall be determined in accordance with this subparagraph (b)Rental Adjustment Date. Within fifteen (15) days following the exercise of the Extension Option, If Landlord and Tenant are unable to agree upon a single appraiser within such time period, then Landlord and Tenant shall each shall appoint one appraiserappraiser not later than sixty-five (65) days prior to the Extension Rental Adjustment Date, and Landlord and Tenant shall each give written notice to the other of such appointment at the time of such appointment. Within ten (10) days after thereafter, the two appointed appraisers are appointed, they will shall appoint a third appraiser. If either Landlord or Tenant fails to appoint its appraiser and to give written notice thereof to the other party within the prescribed time period, the single appraiser appointed will shall determine the Fair Rental Market Value of the Leased Premises in accordance with Section 2(c) below and such other standards used by qualified appraisers in the Dallas-Fort Worth area as may be appropriatePremises. If the two appointed appraisers both parties fail to agree on appoint appraisers within the third appraiserprescribed time period, then the third first appraiser will thereafter selected by a party (such selection to be appointed by written notice thereof to such appraiser and the then president of the Greater Dallas Board of Realtors, and all three appraisers will other party) shall determine the Fair Rental Market Value of the Leased Premises in accordance with Section 2(c) below and such other standards used by qualified appraisers in the Dallas-Fort Worth area as may be appropriatePremises. Each party will shall bear the cost of the its own appraiser appointed by it and the parties will shall share equally the cost of the single or third appraiserappraiser if applicable. All appraisers will shall have at least five (5) years' experience in the appraisal of commercial/industrial real property in the area in which the Premises are located and shall be qualified members of professional organizations such as MAI or its equivalent. (ii) For the purposes of such appraisal, the term "Fair Market Value" shall mean the price that a ready and willing tenant would pay, as of the Extension Rental Adjustment Date, as monthly rent, to a ready and willing landlord of property comparable to the Premises if such property were exposed for lease on the open market for a reasonable period of time and taking into account all of the purposes for which such property may be used. If a single appraiser is chosen, then such appraiser shall determine the Fair Rental Market Value of the Leased Premises. Otherwise, the Fair Market Value of the Premises shall be the arithmetic average of the two (2) of the three (3) appraisals which are closest in amount, and the third appraisal shall be disregarded. Landlord and Tenant shall instruct the appraiser(s) to complete their determination of the Fair Market Value not later than thirty (30) days prior to the Extension Rental Adjustment Date. If the Fair Market Value is not determined prior to the Extension Rental Adjustment Date, then Tenant shall continue to pay to Landlord the Base Rent applicable to the Premises immediately prior to the Extension Rental Adjustment Date until the Fair Market Value is determined. When the Fair Market Value of the Premises is determined, Landlord shall deliver notice thereof to Tenant, and Tenant shall pay to Landlord, within ten (10) days after receipt of such notice, the difference between the Base Rent actually paid by Tenant to Landlord for the period after the Extension Rental Adjustment Date and the new Base Rent determined hereunder effective as of the Extension Rental Adjustment Date. In no event shall the Base Rent payable by Tenant during the Extension be reduced below the Base Rent payable by Tenant under the Lease immediately prior to the Extension Rental Adjustment Date.