Common use of Definition of Prevailing Market Clause in Contracts

Definition of Prevailing Market. For purposes of the Renewal Options, “Prevailing Market” shall mean the arms’ length fair market annual rental rate per rentable square foot under renewal leases and amendments entered into on or about the date on which the Prevailing Market is being determined hereunder for space comparable to the Premises in the Project and office buildings comparable to the Building in the Xxxxxxxxx, Xxxxxx/Xxxxxxx 000 submarket. The determination of Prevailing Market shall take into account any material economic differences between the terms of this Lease and any comparison lease or amendment, such as rent abatements, construction costs and other concessions and the manner, if any, in which the landlord under any such lease is reimbursed for operating expenses and taxes. The prevailing Market shall also include the then market leasing concessions, if any, such as construction allowances and free rent. The determination of Prevailing Market shall also take into consideration any reasonably anticipated changes in Prevailing Market rates over the relevant time period.

Definition of Prevailing Market. For purposes of the this Renewal OptionsOption, “Prevailing Market” shall mean the arms’ arms length fair market annual rental rate per rentable square foot under renewal leases and amendments for reasonably comparable lengths of time entered into on or about the date on which the Prevailing Market is being determined hereunder for space comparable to the Premises in the Project and office buildings Building with improvements comparable to the Building those existing in the XxxxxxxxxPremises on the date Tenant exercises the Renewal Option and that reflect what a willing, Xxxxxx/Xxxxxxx 000 submarketcomparable tenant would pay, and a willing, comparable landlord would accept. The determination of Prevailing Market shall take into account any material economic differences between the terms of this Lease and any comparison lease or amendment, such as rent abatements, construction costs and other concessions and the manner, if any, in which the landlord under any such lease is reimbursed for operating expenses and taxes. The prevailing Market shall also include the then market leasing concessions, if any, such as construction allowances and free rent. The determination of Prevailing Market shall also take into consideration any reasonably anticipated changes in the Prevailing Market rates over rate from the relevant time periodsuch Prevailing Market rate is being determined and the time such Prevailing Market rate will become effective under this Lease.

Definition of Prevailing Market. For purposes of the this Second Renewal OptionsOption, “Prevailing Market” shall mean the arms’ arms length fair market annual rental rate per rentable square foot under renewal leases and amendments entered into on or about the date on which the Prevailing Market is being determined hereunder for space comparable in size and quality to the Premises in the Project Building and office buildings comparable to the Building in the Xxxxxxxxx, Xxxxxx/Xxxxxxx 000 submarketBellevue Central Business District (provided that any space consisting of not less than a full floor shall be deemed comparable in size to the Premises). The determination of Prevailing Market shall take into account any material economic differences between the terms of this Lease and any comparison lease or amendment, such as rent abatements, construction costs and other concessions (including, without limitation, payment of brokerage commissions) and the manner, if any, in which the landlord under any such lease is reimbursed for operating expenses and taxes. The prevailing Market shall also include the then market leasing concessions, if any, such as construction allowances and free rent. The determination of Prevailing Market shall also take into consideration any reasonably anticipated changes in the Prevailing Market rates over rate from the relevant time periodsuch Prevailing Market rate is being determined and the time such Prevailing Market rate will become effective under this Lease.

Definition of Prevailing Market. For purposes of the Renewal Optionsthis Paragraph 2, “Prevailing Market” shall mean the arms’ arm’s length fair market annual rental rate per rentable square foot under renewal leases and renewal amendments entered into on or about the date on which the Prevailing Market is being determined hereunder for comparable use for flex/office space and a comparable term for space comparable to the Premises in the Project and flex/office buildings comparable to the Building building in which the Premises is located in the Xxxxxxxxx, Xxxxxx/Xxxxxx / Xxxxxxx 000 submarket. The determination of Prevailing Market shall take into account any material economic differences between the terms of this the Lease and any comparison lease or amendment, such as rent abatements, construction costs and other concessions and the manner, if any, in which the landlord under any such lease is reimbursed for operating expenses and taxes. The prevailing Market shall also include the then market leasing concessions, if any, such as construction allowances and free rent. The determination of Prevailing Market shall also take into consideration any reasonably anticipated changes in the Prevailing Market rates over rate from the relevant time periodsuch Prevailing Market rate is being determined and the time such Prevailing Market rate will become effective under the Lease.

Definition of Prevailing Market. For purposes of the this First Renewal OptionsOption, “Prevailing Market” shall mean the arms’ arms length fair market annual rental rate per rentable square foot under renewal leases and amendments entered into on or about the date on which the Prevailing Market is being determined hereunder for space comparable in size and quality to the Premises in the Project Building and office buildings comparable to the Building in the Xxxxxxxxx, Xxxxxx/Xxxxxxx 000 submarketBellevue Central Business District (provided that any space consisting of not less than a full floor shall be deemed comparable in size to the Premises). The determination of Prevailing Market shall take into account any material economic differences between the terms of this Lease and any comparison lease or amendment, such as rent abatements, construction costs and other concessions (including, without limitation, payment of brokerage commissions) and the manner, if any, in which the landlord under any such lease is reimbursed for operating expenses and taxes. The prevailing Market shall also include the then market leasing concessions, if any, such as construction allowances and free rent. The determination of Prevailing Market shall also take into consideration any reasonably anticipated changes in the Prevailing Market rates over rate from the relevant time periodsuch Prevailing Market rate is being determined and the time such Prevailing Market rate will become effective under this Lease.