Definition of Offering Space Prevailing Market Sample Clauses

Definition of Offering Space Prevailing Market. For purposes of this Right of First Offer provision, "Offering Space Prevailing Market" rate shall mean the annual rental rate per square foot for space comparable to the Offering Space in the New Building and other buildings in the Project under leases and renewal and expansion amendments being entered into at or about the time that Offering Space Prevailing Market is being determined, giving appropriate consideration to tenant concessions, brokerage commissions, tenant improvement allowances, and the method of allocating operating expenses and taxes. Notwithstanding the foregoing, space leased under any of the following circumstances shall not be considered to be comparable for purposes hereof: (i) the lease term is for less than the lease term of the Offering Space, (ii) the space is encumbered by the option rights of another tenant, or (iii) the space has a lack of windows and/or an awkward or unusual shape or configuration, The foregoing is not intended to be an exclusive list of space that will not be considered to be comparable. The determination of Offering Space Prevailing Market shall also take into consideration any reasonably anticipated changes in the Offering Space Prevailing Market Rate from the time such Offering Space Prevailing Market Rate is being determined and the time such Offering Space Prevailing Market Rate will become effective under the Lease as amended hereby.
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Related to Definition of Offering Space Prevailing Market

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