Determination of Rentable Area Sample Clauses

Determination of Rentable Area. (a) The Rentable Area of the Leased Premises and the Rentable Area of the Development shall be determined in the first instance by the Landlord in accordance with the new Boma Standard Method for Measuring Floor Area in Office Buildings dated June 1996. The Rentable Area of the Leased Premises, the Development or any other component of the Development shall be conclusively deemed to be the area, expressed in square feet, set out in a certificate of the Landlord or Architect. (b) In the case of a single tenancy floor in the Development the Rentable Area shall be in accordance with the new Boma Standard Method for Measuring Floor Area in Office Buildings dated June 7, 1996. (c) The Rentable Area of Leased Premises located on a floor occupied by more than one tenant shall be in accordance with the new Boma Standard Method for Measuring Floor Area in Office Building dated June 7, 1996. Section 4.04 Payment of Tenant’s Proportionate Share Prior to the commencement of the Term and the commencement of each Lease Year, the Landlord shall notify the Tenant of its estimate of the Tenant’s Proportionate Share for the next ensuing Lease Year. The Tenant shall pay such estimated amount in equal monthly instalments in advance on the first day of each month during the Lease Year. From time to time during a Lease Year the Landlord may re-estimate the amount of the Tenant’s Proportionate Share and shall fix monthly instalments for the then remaining balance of the Lease Year so that the Tenant’s Proportionate Share will have been entirely paid during the Lease Year. When the necessary information becomes available, the Landlord shall make a final determination of the Tenant’s Proportionate Share for each Lease Year, which shall be binding upon both Parties, and shall provide the Tenant with an audited statement of the Operating Costs for the relevant Lease Year. The Landlord and the Tenant shall expeditiously make any necessary re-adjusting payments provided that the Tenant may not claim a re-adjustment based solely upon any error of estimation, determination or calculation unless claimed in writing within one (1) year alter the Lease Year to which the claim relates. Section 4.05 Accrual or Rent Rent shall be considered as accruing from day to day hereunder and where it becomes necessary for any reason to calculate such rent for an irregular period of less than one (1) year or less than one (1) calendar month, an appropriate apportionment and adjustment shall be made. If t...
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Determination of Rentable Area. The rentable area in the Office Complex and in the Premises shall be determined in accordance with the Building Owners and Managers Association ("BOMA") standard method of office space calculation.
Sample 1
Determination of Rentable Area. Rentable Area for the Premises has ------------------------------ been calculated pursuant to the BOMA's Standard Method of Measuring Floor Area in Office Buildings, ANSI/BOMA Z65.1-1996. Tenant's architect shall have the right to verify the calculation of the rentable area for the Premises within thirty (30) days after the Commencement Date, after which thirty (30) day period the rentable area of the Premises as set forth herein shall be deemed to be mutually agreed upon by the parties and shall be conclusive and binding upon them. Rentable Area for the Building and the Project has been or will be calculated in a manner consistent with all other leases in the Project.
Sample 1
Determination of Rentable Area. (1) The Rentable Area of the Leased Premises and the Rentable Area of the Building shall be determined in the first instance by the Landlord in accordance with the Standard Method of Measuring Floor Area in Office Buildings (American National Standard AN51265.l-1980, re-affirmed 1919 and reprinted August, 1993) published by Building Owners and Managers Association International. The Rentable Area of the Leased Premises, the Building or any other component of the Development shall be conclusively deemed to be the area, expressed in square feet, set out in a certificate of the Landlord or an Expert. (2) Upon determination of the Rentable Area of the Leased Premises by the Landlord or an Expert, the Basic Rent and Occupancy Costs shall, if necessary, be adjusted accordingly, retroactive to the Commencement Date, and the Tenant shall pay to the Landlord any deficiency in payments of Basic Rent and Occupancy Costs made to such time or the Landlord shall refund to the Tenant any excess Basic Rent and Occupancy Costs paid by the Tenant to such time (as the case may be) within fifteen (15) days after the Tenant is given written notice of such determination. At the Landlord's request the Tenant shall enter into an amendment to this Lease reflecting such adjustment to the Rentable Area of the Leased Premises and in the Basic Rent.
Sample 1
Determination of Rentable Area. Landlord's architect shall ------------------------------ determine and certify the rentable area of the Premises and the Buildings in accordance with the Building Owners and Managers Association ("BOMA") definition American National Standard Z65.1-1996. Landlord shall notify Tenant in writing of the rentable areas of each Building as determined by Landlord's architect upon delivery of possession to Tenant of the portion of the Premises within that Building. Tenant shall have thirty (30) days from the date on which Landlord or Landlord's architect notifies Tenant in writing of the determination of the rentable area of the applicable Building to object to the determination made by Landlord's architect. If Tenant timely notifies Landlord of its objection, Tenant shall arrange for an architect selected by Tenant to remeasure the rentable area of the applicable Building in accordance with the BOMA standard referenced above.
Sample 1
Determination of Rentable Area. Upon the Substantial Completion of the Initial Improvements, Lessor's Architect shall measure
Sample 1
Determination of Rentable Area. (a) The Rentable Area of the Leased Premises and the Rentable Area of the Development shall be determined in the first instance by the Landlord in accordance with the methods of measurement described in this Section. The Rentable Area of the Leased Premises, the Development or any other component of the Development shall be conclusively deemed to be the area, expressed in square feet, set out in a certificate of the Landlord or Architect. (b) In the case of a single tenancy floor in the Development the Rentable Area shall be all the floor area within the exterior walls calculated by measuring from the inside face of the glass of the exterior walls (without deduction for columns and projections) and including elevator lobbies, service corridors, electrical rooms, telephone rooms, janitor closets, washrooms, mechanical rooms and any special stairs and/or elevators for the specific use of the particular tenant but excluding other stairs, elevator shafts, flues, pipe shafts and vertical ducts and their enclosing walls. (c) The Rentable Area of Leased Premises located on a floor occupied by more than one tenant shall be the aggregate of (i) all floor area within the exterior walls calculated by measuring from the inside face of the glass of the exterior walls to the face of permanent interior walls and to the centre line of demising partitions (without deduction for columns and projections) but excluding stairs and elevator shafts supplied by the Landlord for use in common with other tenants within the relevant floor, and (ii) a proportionate share of the Common Areas located on such floor, and (iii) any service areas which are for the specific use of the particular tenant, such as special stairs and elevators.
Sample 1
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Determination of Rentable Area. Upon the Substantial Completion of the Initial Improvements, Lessor's Architect shall measure the rentable square footage of the Premises (including without limitation the mezzanine portion of the Office Area). Such square footage shall be determined by measuring to the outside finished surface of the permanent exterior building walls (and, with respect to the mezzanine, to the outside finished surface of the interior wall which demises the Office Area from the remainder of the Premises), without deduction for columns or projections necessary to the building. Upon such determination of rentable area, all provisions of the Lease which are dependent upon square footage (including without limitation the calculation of Base Rent) shall be adjusted accordingly. Dated as of September 12, 1996.
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Related to Determination of Rentable Area

  • Calculation of Rent All calculation of Rent payable hereunder shall be computed based on the actual number of days elapsed over a year of three hundred sixty (360) days or, to the extent such Rent is based on the Prime Lending Rate, three hundred sixty-five (365) (or three hundred sixty-six (366), as applicable) days.

  • Rentable Area 6.1. The term “Rentable Area” shall reflect such areas as reasonably calculated by Landlord’s architect, as the same may be reasonably adjusted from time to time by Landlord in consultation with Landlord’s architect to reflect changes to the Premises, the Building or the Project, as applicable.

  • Determination of Option Rent In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten (10) days after the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent. 2.2.3.1 Landlord and Tenant shall each appoint one arbitrator who shall be a real estate appraiser who shall have been active over the five (5) year period ending on the date of such appointment in the appraisal of other class A life sciences buildings located in the South San Francisco market area. The determination of the arbitrators shall be limited solely to the issue of whether Landlord’s or Tenant’s submitted Option Rent is the closest to the actual Option Rent, taking into account the requirements of Section 2.2.2 of this Lease, as determined by the arbitrators. Each such arbitrator shall be appointed within fifteen (15) days after the Outside Agreement Date. Landlord and Tenant may consult with their selected arbitrators prior to appointment and may select an arbitrator who is favorable to their respective positions. The arbitrators so selected by Landlord and Tenant shall be deemed “Advocate Arbitrators.” 2.2.3.2 The two (2) Advocate Arbitrators so appointed shall be specifically required pursuant to an engagement letter within ten (10) days of the date of the appointment of the last appointed Advocate Arbitrator to agree upon and appoint a third arbitrator (“Neutral Arbitrator”) who shall be qualified under the same criteria set forth hereinabove for qualification of the two Advocate Arbitrators, except that neither the Landlord or Tenant or either parties’ Advocate Arbitrator may, directly or indirectly, consult with the Neutral Arbitrator prior or subsequent to his or her appearance. The Neutral Arbitrator shall be retained via an engagement letter jointly prepared by Landlord’s counsel and Tenant’s counsel. 2.2.3.3 The three arbitrators shall, within thirty (30) days of the appointment of the Neutral Arbitrator, reach a decision as to whether the parties shall use Landlord’s or Tenant’s submitted Option Rent, and shall notify Landlord and Tenant thereof. 2.2.3.4 The decision of the majority of the three arbitrators shall be binding upon Landlord and Tenant. 2.2.3.5 If either Landlord or Tenant fails to appoint an Advocate Arbitrator within fifteen (15) days after the Outside Agreement Date, then either party may petition the presiding judge of the Superior Court of San Mateo County to appoint such Advocate Arbitrator subject to the criteria in Section 2.2.3.1 of this Lease, or if he or she refuses to act, either party may petition any judge having jurisdiction over the parties to appoint such Advocate Arbitrator. 2.2.3.6 If the two (2) Advocate Arbitrators fail to agree upon and appoint the Neutral Arbitrator, then either party may petition the presiding judge of the Superior Court of San Mateo County to appoint the Neutral Arbitrator, subject to criteria in Section 2.2.3.1 of this Lease, or if he or she refuses to act, either party may petition any judge having jurisdiction over the parties to appoint such arbitrator. 2.2.3.7 The cost of the arbitration shall be paid by Landlord and Tenant equally. 2.2.3.8 In the event that the Option Rent shall not have been determined pursuant to the terms hereof prior to the commencement of the Option Term, Tenant shall be required to pay the Option Rent initially provided by Landlord to Tenant, and upon the final determination of the Option Rent, the payments made by Tenant shall be reconciled with the actual amounts of Option Rent due, and the appropriate party shall make any corresponding payment to the other party.

  • Definition of Rent All costs and expenses which Tenant assumes or agrees to pay to Landlord under this Lease shall be deemed additional rent (which, together with the Base Rent is sometimes referred to as the "Rent"). The Rent shall be paid to the Building manager (or other person) and at such place, as Landlord may from time to time designate in writing, without any prior demand therefor and without deduction or offset, in lawful money of the United States of America.

  • Adjustment of Rent Lessee and Lessor agree that the payments and allocations of Basic Rent, Stipulated Loss Values, Stipulated Loss Amounts, Termination Values and Termination Amount percentages and the Early Purchase Price shall be adjusted to the extent provided in Section 2.6 of the Participation Agreement.

  • Fair Market Rent Approximately thirty (30) days after receipt of Tenant’s Extension Exercise Notice, Landlord shall notify Tenant in writing of Landlord’s estimate of the Base Monthly Rent for the first year of the applicable extension period, and the estimate of annual increases based upon the Landlord’s determination of the same. For purposes hereof, “Fair Market Rent” shall mean collectively, (1) Base Monthly Rent for the first year of the applicable extension period, which shall reflect the then-current rate for renewals of space in comparable Class A buildings (including the Building) in the Sunnyvale, Santa Xxxxx and Mountain View, California submarket (“Comparable Buildings”) in direct transactions with owners of Comparable Buildings (thus excluding any subleases or other indirect transactions), and (2) the annual increases determined at the time Base Monthly Rent for the first year is determined. Within thirty (30) days after receipt of such notice from Landlord, Tenant shall have the right either to (i) accept Landlord’s estimate of Fair Market Rent or (ii) elect to arbitrate the Fair Market Rent against Landlord, such arbitration to be conducted pursuant to the provisions hereof. Failure on the part of Tenant to require arbitration of Fair Market Rent within such thirty (30) day period shall constitute acceptance of the Fair Market Rent for the applicable extension period. If Tenant elects to compel arbitration, the parties agree to use good faith efforts to have the arbitration concluded within ninety (90) days after the date of Tenant’s election, subject to extension for an additional period if a third arbitrator is required and does not act in a timely manner. To the extent that arbitration has not been completed prior to the expiration of any preceding period for which Base Monthly Rent has been determined, Tenant shall pay Base Monthly Rent at the rate calculated by Landlord, with the potential for an adjustment to be made once Fair Market Rent is ultimately determined by arbitration.

  • Square Footage Buyer acknowledges that the square footage of the Property has not been measured by Seller, Seller’s broker or its auctioneer (including the square footage of the lot and home) and the square footage quoted on any marketing tools such as advertisements, brochures, MLS data, the auction website and any other information provided is based on information supplied to Seller and is deemed approximate and not guaranteed. Buyer further acknowledges that Buyer has not relied upon any such marketing tool and that such tools are not representations and/or warranties of Seller or its agent.

  • Fair Rental Value If a loss covered under Section I makes that part of the "residence premises" rented to oth- ers or held for rental by you not fit to live in, we cover the fair rental value of such premises less any expenses that do not continue while it is not fit to live in. Payment will be for the shortest time required to repair or replace such premises.

  • Determination of Fair Market Value For purposes of this Section 10.2, “fair market value” of a Share (or Common Stock if the Shares have been converted into Common Stock) as of a particular date (the “Determination Date”) shall mean: (i) If the Conversion Right is exercised in connection with and contingent upon a Public Offering, and if the Company’s Registration Statement relating to such Public Offering (“Registration Statement”) has been declared effective by the Securities and Exchange Commission, then the initial “Price to Public” specified in the final prospectus with respect to such offering. (ii) If the Conversion Right is not exercised in connection with and contingent upon a Public Offering, then as follows: (A) If traded on a securities exchange, the fair market value of the Common Stock shall be deemed to be the average of the closing prices of the Common Stock on such exchange over the five trading days immediately prior to the Determination Date, and the fair market value of the Shares shall be deemed to be such fair market value of the Common Stock multiplied by the number of shares of Common Stock into which each share of Series Preferred is then convertible; (B) If traded on the Nasdaq Stock Market or other over-the-counter system, the fair market value of the Common Stock shall be deemed to be the average of the closing prices of the Common Stock over the five trading days immediately prior to the Determination Date, and the fair market value of the Shares shall be deemed to be such fair market value of the Common Stock multiplied by the number of shares of Common Stock into which each Share is then convertible; and (C) If there is no public market for the Common Stock, then fair market value shall be determined by the Board of Directors of the Company in good faith. In making a determination under clauses (A) or (B) above, if on the Determination Date, five trading days had not passed since the closing of the Company’s initial public offering of its Common Stock (“IPO”), then the fair market value of the Common Stock shall be the average closing prices or closing bid prices, as applicable, for the shorter period beginning on and including the date of the IPO and ending on the trading day prior to the Determination Date (or if such period includes only one trading day, the closing price or closing bid price, as applicable, for such trading day). If closing prices or closing bid prices are no longer reported by a securities exchange or other trading system, the closing price or closing bid price shall be that which is reported by such securities exchange or other trading system at 4:00 p.m. New York City time on the applicable trading day.

  • 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.

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