Current Market Rent Sample Clauses

Current Market Rent. 5.5.1 The Council will appoint an independent valuer to assess the Current Market Rent for the Premises (Council’s Rent Assessment).
Sample 1
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Current Market Rent. The Current Market Rent is defined as the rental rate at the time Tenant provides notice, for vacant space in buildings in the Nashua, New Hampshire area of comparable quality, tenants of similar size, credit quality and stature. The prevailing market rental rate would include all comparable lease provisions including without limitation, market provisions for improvement allowance, commissions, free rent, other lease concessions, lease term, base years, lease rate escalation(s) and operating expenses and taxes. Any dispute over the prevailing market rate will be submitted to arbitration. Notwithstanding anything to the contrary contained herein, however, if for any reason whatsoever Landlord and Tenant shall not agree in writing upon the Current Market Rent for said period at least nine (9) months prior to the expiration of the Term, if exercised, then the Current Market Rent shall be determined by licensed real estate appraisers with MAI designation having at least five (5) years’ experience in the appraisal of commercial real estate in Nashua, New Hampshire one such appraiser to be designated by each of Landlord and Tenant. If either party shall fail to designate its appraiser by giving notice of the name of such appraiser to the other party within fifteen (15) days after receiving notice of the name of the other party’s appraiser, then the appraiser chosen by the other party shall determine the Current Market Rent and his/her determination shall be final and conclusive. If the appraisers designated by Landlord and Tenant shall disagree as to the Current Market Rent, but if the difference between their estimates of Current Market Rent shall be five percent (5%) or less of the greater of the estimates, then the average of their estimates shall be the Current Market Rent for purposes hereof. If the appraisers designated by Landlord and Tenant shall disagree as to the amount of Current Market Rent, and if their estimates of Current Market Rent shall vary by more than five percent (5%) of the greater of said estimates, then they shall jointly select a third appraiser meeting the qualifications set forth above, and his/her estimate of Current Market Rent shall be the Current Market Rent for purposes hereof if it is not greater than the greater of the other two estimates and not less than the lesser of the other two estimates. If said third appraiser’s estimate is greater than the greater of the other two estimates, then the greater of the other two estimates ...
Sample 1
Current Market Rent. 6.5.1 The Council may at any time give the Lessee written notice stating the Council’s assessment of the Current Market Rent.
Sample 1
Current Market Rent the current market rent of the Premises at the beginning of the relevant Renewal Term; and
Sample 1
Current Market Rent. Determination of Current Market Rent for the last five months of the Lease Term, with respect to Suites F-101, F-103, F-104, S-201, and T-301, and, if applicable, the initial year of Tenant's Option Period shall be as follows:
Sample 1
Current Market Rent. Except for Approved Amendments, if any, all terms and conditions of this Lease shall remain in full force and effect during the Renewal Period, except that (i) annual Base Rent for the first Lease Year of the Renewal Period and annual escalations thereof for each subsequent Lease Year shall be adjusted so that annual Base Rent for each such Lease Year equals ninety-five percent (95%) of the "Current Market Rent" (as defined below), (ii) the Base Year shall be 2010, and (iii) there shall be no further Renewal Option. The "Current Market Rent" for purposes of this Lease shall mean the prevailing market rent as of the date such market rent is to go into effect for renewal leases of other comparable office space of the same quality, size, location, level of finish, and lease term in the Building and in other comparable office buildings located in the northern Virginia metropolitan area, for a tenant of credit-worthiness comparable to that of Tenant, taking into account all relevant factors, including the building's age and condition, any significant renovation of the Building or the leased space, all components of rent, including base rent, the number, type and base year for various rent escalations, base year and pass-throughs for operating expenses and real estate taxes, and any "Concessions" (as defined below). The determination of Current Market Rent shall include establishing new Lease terms consistent with market terms at such time relating to base rent, base year, rent escalations, and pass throughs of real estate taxes and operating expenses, to modify or replace as appropriate the then existing terms contained in this Lease relating to such items. The term "Concessions" means any free or reduced rent periods, construction allowances or other concessions.
Sample 1
Current Market Rent. All terms and conditions of this Lease shall remain in full force and effect during the Renewal Period, except that (i) Annual Base Rent and increases thereof during the Renewal Period shall be adjusted to equal one hundred percent (100%) of the "Current Market Rent" (as defined below), and (ii) the Base Year for Operating Expenses and the Base Year for Real Estate Taxes shall be adjusted to be calendar year 2005. The "Current Market Rent" for purposes of this Lease shall mean the prevailing market rent as of the date such market rent is to go into effect for renewal leases of other comparable office space of the same quality, size, location, level of finish, and lease term in the Building and in other comparable office buildings located in the Chantilly, Virginia area, for a tenant of credit-worthiness comparable to that of Tenant, taking into account all relevant factors, including the building's age and condition, any significant renovation of the Building or the leased space, all components of rent, including base rent, the number, type and base year for various rent escalations, base year and pass-throughs for operating expenses and real estate taxes, and any "Concessions" (as defined below). The determination of Current Market Rent shall include establishing new Lease terms consistent with market terms at such time relating to minimum rent, base year, rent escalations, and pass throughs of real estate taxes and operating expenses, to modify or replace as appropriate the then existing terms contained in this Lease relating to such items. The term "Concessions" means any free or reduced rent periods, construction allowances or other concessions.
Sample 1
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Related to Current Market Rent

  • Fair Market Rent In the event that it becomes necessary to determine the Fair Market Rent of any Facility for any purpose of this Master Lease, and the parties cannot agree among themselves on such Fair Market Rent within twenty (20) days after the first request made by one of the parties to do so, then either party may notify the other of a person selected to act as appraiser (such person, and each other person selected as provided herein, an “Appraiser”) on its behalf. Within fifteen (15) days after receipt of any such Notice, the other party shall by notice to the first party appoint a second person as Appraiser on its behalf. The Appraisers thus appointed, each of whom must be a member of The Appraisal Institute/American Institute of Real Estate Appraisers (or any successor organization thereto, or, if no such organization exists, a similarly nationally recognized real estate appraisal organization) with at least ten (10) years of experience appraising properties similar to the Facilities, shall, within forty-five (45) days after the date of the notice appointing the first appraiser, proceed to appraise the applicable Facility to determine the Fair Market Rent thereof as of the relevant date; provided, that if one Appraiser shall have been so appointed, or if two Appraisers shall have been so appointed but only one such Appraiser shall have made such determination within fifty (50) days after the making of the initial appointment, then the determination of such Appraiser shall be final and binding upon the parties. If two (2) Appraisers shall have been appointed and shall have made their determinations within the respective requisite periods set forth above and if the difference between the amounts so determined shall not exceed ten percent (10%) of the lesser of such amounts, then the Fair Market Rent shall be an amount equal to fifty percent (50%) of the sum of the amounts so determined. If the difference between the amounts so determined shall exceed ten percent (10%) of the lesser of such amounts, either party may request the appointment of Experts pursuant to Article XXXIV.

  • Current Market Price The term "Current Market Price" shall mean (i) if the Company’s common shares are traded in the over-the-counter market or on the National Association of Securities Dealers, Inc. Automated Quotations System ("NASDAQ"), the average per Share closing bid price on the 20 consecutive trading days immediately preceding the date of exercise or date of call by the Company, as reported by NASDAQ or an equivalent generally accepted reporting service, or (ii) if the Shares are traded on a national securities exchange, the average for the 20 consecutive trading days immediately preceding the exercise date or the date of call by the Company of the daily per Share closing prices on the principal stock exchange on which the Shares are listed, as the case may be. The closing price referred to in clause (ii) above shall be the last reported sales price or, if no such reported sale takes place on such day, the average of the reported closing bid and asked prices, in either case on the national securities exchange on which the Shares are then listed.

  • Determination of Market Rent If Tenant timely and appropriately objects to the Market Rent in Tenant’s Acceptance, Landlord and Tenant shall attempt to agree upon the Market Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within twenty-one (21) days following Tenant’s Acceptance (“Outside Agreement Date”), then each party shall make a separate determination of the Market Rent which shall be submitted to each other and to arbitration in accordance with the following items (i) through (vii):

  • Rental Value Lessor shall also obtain and keep in force during the term of this Lease a policy or policies in the name of Lessor, with loss payable to Lessor and any Lender(s), insuring the loss of the full rental and other charges payable by all lessees of the Building to Lessor for one year (including all Real Property Taxes, insurance costs, all Common Area Operating Expenses and any scheduled rental increases). Said insurance may provide that in the event the Lease is terminated by reason of an insured loss, the period of indemnity for such coverage shall be extended beyond the date of the completion of repairs or replacement of the Premises, to provide for one full year's loss of rental revenues from the date of any such loss. Said insurance shall contain an agreed valuation provision in lieu of any co-insurance clause, and the amount of coverage shall be adjusted annually to reflect the projected rental income, Real Property Taxes, insurance premium costs and other expenses, if any, otherwise payable, for the next 12-month period. Common Area Operating Expenses shall include any deductible amount in the event of such loss.

  • Net Rent It is the intent of the Landlord and Tenant that this Lease shall yield, net to Landlord, the Base Rent specified and all Additional Rent and charges in each month during the term of the Lease, and that all costs, expenses and obligations of every kind relating to the Leased Premises shall be paid by the Tenant, unless expressly assumed by the Landlord.

  • Current Per Share Market Value For the purpose of any computation hereunder, the “Current Per Share Market Value” of any security (a “Security” for the purpose of this Section 11.4.1) on any date shall be deemed to be the average of the daily closing prices per share of such Security for the thirty (30) consecutive Trading Days (as such term is hereinafter defined) immediately prior to such date; provided, however, that in the event that the current per share market price of the Security is determined during any period following the announcement by the issuer of such Security of (i) a dividend or distribution on such Security payable in shares of such Security or securities convertible into such shares or (ii) any subdivision, combination or reclassification of such Security, and prior to the expiration of

  • Fair Market Value Fair Market Value of a share of Common Stock as of a particular date (the "Determination Date") shall mean:

  • Annual Base Rent Beginning on the Commencement Date, Tenant agrees to pay Landlord, without prior demand therefor, and without set-off or deduction, a yearly base minimum rent in the amount of Twenty-six Thousand Four Hundred Eighteen and No/100 Dollars ($26,418.00), payable in monthly installments, each in the amount of Two Thousand Two Hundred One and 50/100 Dollars ($2,201.50) plus an annual parking charge in an amount pursuant to the paragraph below (collectively, the base minimum rent and parking charge shall be defined herein as the “Base Rent”). In the event the Commencement Date falls on a day other than the first day of a calendar month, then the monthly installment of Base Rent shall be prorated for such month. In the event this Lease expires or is terminated on a day that is other than the last day of a calendar month, then the Base Rent for the month in which the Term expires or is terminated shall be prorated. Tenant shall pay the Base Rent to Landlord at Landlord’s address set forth in Section 17.5 of this Lease, or at such other place as Landlord may from time to time designate to Tenant in writing (in accordance with Section 17.5 of this Lease), in funds which at the time of such payment shall be legal tender for the payment of public or private debts in the United States of America. Beginning on the Commencement Date, Tenant shall also pay to Landlord an annual parking charge that shall be part of the Base Rent and initially shall be equal to the product of One Hundred and No/100 Dollars ($100.00) multiplied by the number of parking spaces which are allocated for Tenant’s use under Section 2.2 of the REA (initially, 120 spaces), being initially Twelve Thousand and No/100 Dollars ($12,000.00) per year. In the event Tenant should demand the LTACH Exclusive Parking Rights, as provided for in the REA, then from and after the date that Tenant begins to have such exclusive parking, the amount of the parking charge that shall be part of the Base Rent shall be increased to One Hundred Twenty-Five Percent (125%) of the parking charge then in effect at the time that Tenant begins to have such exclusive parking, with the amount prorated for any partial calendar year. Both the minimum rent and the parking charge that comprise the Base Rent shall be subject to adjustment pursuant to Section 3.5 below.

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