Common use of Definition of Prevailing Market Rent Clause in Contracts

Definition of Prevailing Market Rent. “Prevailing Market Rent” for purposes of this ARTICLE 43 shall mean the rent (base rent and additional rent adjusted, if necessary, to reflect the base years to be used for the applicable period) per rentable square foot for similar office space in the Building and in comparable buildings as reasonably located in the City of Boston (i) taking into account (A) any difference in the base years between the Offering Space and the compared space for measurement of additional rent on account of taxes and expenses, (B) the magnitude of any free rent or buildout allowance included in rent for the compared space, (C) length of lease, (D) building amenities in the respective buildings, (E) the location and floor levels of the Offering Space and the compared space, (F) services provided in the respective buildings, (G) surrender rights, if any, in the compared space (H) parking rights and obligations, (I) free rent, tenant allowances or other concessions in the compared space and (J) all other relevant market factors and (iii) taking into account the brokerage commissions, if any, to be paid in connection with the leasing the respective spaces.

Definition of Prevailing Market Rent. “Prevailing Market Rent” for purposes of this ARTICLE 43 Section 9 shall mean the rent (base rent and additional rent adjusted, if necessary, to reflect the base years to be used for the applicable period) per rentable square foot for similar office space in the Building and in comparable buildings as reasonably located in the City of Boston (i) taking into account (Aa) any difference in the base years between the Offering Space and the compared space for measurement of additional rent on account of taxes and expenses, (Bb) the magnitude of any free rent or buildout allowance included in rent for the compared space, (Cc) length of lease, (Dd) building amenities in the respective buildings, (Ee) the location and floor levels of the Offering Space and the compared space, (Ff) services provided in the respective buildings, (Gg) surrender rights, if any, in the compared space (Hh) parking rights and obligations, (Ii) free rent, tenant allowances or other concessions in the compared space and (Jj) all other relevant market factors and (iii) taking into account the brokerage commissions, if any, to be paid in connection with the leasing the respective spaces.