Common use of Determination of Market Rental Rate Clause in Contracts

Determination of Market Rental Rate. Within ten (10) days after Tenant delivers a Renewal Notice, Landlord will notify Tenant (the “Rate Notice”) of the Market Rental Rate (as defined below). If Tenant agrees that the rental rate set forth in the Rate Notice is the Market Rental Rate, such rental rate will be the Market Rental Rate for the purposes of this Section 9, and Base Rent for the applicable Renewal Term will be the Market Rental Rate as may be agreed to by Tenant. If Tenant disagrees with the Market Rental Rate in the Rate Notice then Tenant will have thirty (30) days after receipt of the Rate Notice to object to the rental rate in the Rate Notice by giving notice to Landlord and including Tenant’s determination of the Market Rental Rate. If Tenant fails to object within such thirty (30) day period, Tenant will be deemed to have agreed that the Rate Notice contains the Market Rental Rate. If Tenant timely notifies Landlord of Tenant’s objection to the rate set forth in the Rate Notice, then Landlord and Tenant will, for a period of twenty (20) days from and after Tenant gives its objection to the Rate Notice, negotiate to determine a Market Rental Rate acceptable to both Landlord and Tenant.

Appears in 1 contract

Samples: Office Lease Agreement (Markit Ltd.)

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Determination of Market Rental Rate. Within ten (10) 10 days after Tenant delivers a Renewal Notice, Landlord will notify Tenant (the “Rate Notice”) of the Market Rental Rate Rate” (as defined below)) with the understanding that Base Rent for the applicable Renewal Term will be 95% of the Market Rental Rate. If Tenant agrees that the rental rate set forth in the Rate Notice is the Market Rental Rate, such rental rate will be the Market Rental Rate for the purposes of this Section 934, and Base Rent for the applicable Renewal Term will be 95% of the Market Rental Rate as may be agreed to by TenantRate. If Tenant disagrees with the Market Rental Rate in the Rate Notice Notice, then Tenant will have thirty (30) 30 days after receipt of the Rate Notice to object to the rental rate in the Rate Notice by giving notice to Landlord and including Tenant’s determination of the Market Rental RateLandlord. If Tenant fails to object within such thirty (30) 30 day period, Tenant will be deemed to have agreed that the Rate Notice contains the Market Rental Rate. If Tenant timely notifies Landlord of Tenant’s objection to the rate set forth in the Rate Notice, then Landlord and Tenant will, for a period of twenty (20) 20 days from and after Tenant gives its objection to the Rate Notice, negotiate to determine a Market Rental Rate acceptable to both Landlord and Tenant.

Appears in 1 contract

Samples: Lease Agreement (Singulex Inc)

Determination of Market Rental Rate. Within ten (10) 10 days after Tenant delivers a Renewal Notice, Landlord will notify Tenant (the “Rate Notice”) of the Market Rental Rate Rate” (as defined below). If Tenant agrees that the rental rate set forth in the Rate Notice is the Market Rental Rate, such rental rate will be the Market Rental Rate for the purposes of this Section 90, and Base Rent for the applicable Renewal Term will be the Market Rental Rate as may be agreed to by TenantRate. If Tenant disagrees with the Market Rental Rate in the Rate Notice Notice, then Tenant will have thirty (30) 10 days after receipt of the Rate Notice to object to the rental rate in the Rate Notice by giving notice to Landlord and including Tenant’s determination of the Market Rental RateLandlord. If Tenant fails to object within such thirty (30) 10 day period, Tenant will be deemed to have agreed that the Rate Notice contains the Market Rental Rate. If Tenant timely notifies Landlord of Tenant’s objection to the rate set forth in the Rate Notice, then Landlord and Tenant will, for a period of twenty (20) 10 days from and after Tenant gives its objection to the Rate Notice, negotiate to determine a Market Rental Rate acceptable to both Landlord and Tenant.

Appears in 1 contract

Samples: Lease Agreement (Zynex Inc)

Determination of Market Rental Rate. Within ten (10) 10 business days after Tenant delivers a Renewal Notice, Landlord will notify Tenant (the “Rate Notice”) of the Market Rental Rate Rate” (as defined below). If Tenant agrees that the rental rate set forth in the Landlord’s Rate Notice is the Market Rental Rate, such rental rate will be the Market Rental Rate for the purposes of this Section 930, and Base Rent for the applicable Renewal Term will be the Market Rental Rate as may be agreed to by TenantRate. If Tenant disagrees with the Market Rental Rate in the Rate Notice Notice, then Tenant will have thirty (30) 10 business days after receipt of the Rate Notice to object to the rental rate in the Rate Notice by giving notice to Landlord and including Tenant’s determination of the Market Rental RateLandlord. If Tenant fails to object within such thirty (30) 10 business-day period, Tenant will be deemed to have agreed that the Rate Notice contains the Market Rental Rate. If Tenant timely notifies Landlord of Tenant’s objection to the rate set forth in the Rate Notice, then Landlord and Tenant will, for a period of twenty (20) 10 business days from and after Tenant gives its objection to the Rate Notice, negotiate to determine a Market Rental Rate acceptable to both Landlord and Tenant.. (a)

Appears in 1 contract

Samples: Lease Agreement (eHealth, Inc.)

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Determination of Market Rental Rate. Within ten (10) 10 days after Tenant delivers a Renewal Notice, Landlord will notify Tenant in writing (the “Rate Notice”) of the Market Rental Rate Rate” (as defined below). If Tenant agrees that the rental rate set forth in the Rate Notice is the Market Rental Rate, such rental rate will be the Market Rental Rate for the purposes of this Section 931, and Base Rent for the applicable Renewal Term will be the Market Rental Rate as may be agreed to by TenantRate. If Tenant disagrees with the Market Rental Rate in the Rate Notice Notice, then Tenant will have thirty (30) 30 days after receipt of the Rate Notice to object to the rental rate in the Rate Notice by giving notice to Landlord and including Tenant’s determination of the Market Rental RateLandlord. If Tenant fails to object within such thirty (30) 30 day period, Tenant will be deemed to have agreed that the Rate Notice contains the Market Rental Rate. If Tenant timely notifies Landlord of Tenant’s objection to the rate set forth in the Rate Notice, then Landlord and Tenant will, for a period of twenty (20) 20 days from and after Tenant gives its objection to the Rate Notice, negotiate to determine a Market Rental Rate acceptable to both Landlord and Tenant.

Appears in 1 contract

Samples: Lease Agreement (Exelixis, Inc.)

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