Expansion Rent Clause Samples

Expansion Rent. Notwithstanding anything to the contrary set forth in this First Amendment, prior to the Expansion Space Lease Commencement Date, Tenant shall pay “Rent” (as defined in Section 4.1 of the Original Lease) for the Premises in accordance with the terms of the Lease. Subject to the terms of the last sentence of Section 1.3.2 of the Original Lease, commencing on the “Expansion Space Rent Commencement Date” (as defined in Section 1.3.5 of the Original Lease), Tenant shall also pay to Landlord the “Expansion Rent” (as defined in Section 1.3.3 of the Original Lease). Tenant’s Share and the Base Year with respect to the Expansion Space shall be determined as set forth in Section 1.3.3 of the Original Lease. Construction in the Expansion Space shall be subject to the terms and conditions set forth in Section 1.3.4 of the Original Lease (including, without limitation, the provision of the Expansion Improvement Allowance).

Expansion Rent. The annual Rent payable by Tenant for any applicable Expansion Space leased by Tenant (the “Expansion Rent”) shall be equal to one hundred percent (100%) of the annual Fair Market Value of such Expansion Space as of the date that Tenant gives the applicable Expansion Exercise Notice (which date shall be the “Calculation Date” with respect to such Expansion Space). As used herein, “Additional Space Rent” shall mean Expansion Rent or First Offer Rent, as applicable.

Expansion Rent. The annual “Base Rent,” as that term is defined in Section 3.1 of this Lease, payable by Tenant for Expansion Space leased by Tenant (the “Expansion Rent“) shall be equal to (i) $51.50 with respect to Expansion Space 1, (ii) $53.05 with respect to Expansion Space 2, and (iii) $57.96 with respect to Expansion Space 3. The foregoing Base Rent amounts shall be increased by three percent (3%) on each anniversary of the “Expansion Space Commencement Date,” as that term is defined in Section 1.3.6 of this Lease, below, as applicable to each such Expansion Space. With respect to each Expansion Space leased by Tenant, Tenant shall also pay to Landlord Tenant’s Share of Direct Expenses pursuant to Article 4 of the Lease; provided that (a) Tenant’s Share with respect to each such Expansion Space shall be a percentage, which percentage shall be equal to a fraction, the numerator of which is the rentable square feet of the applicable Expansion Space and the denominator of which is the rentable square feet of the Building, and (b) the Base Year with respect to each such Expansion Space shall be calendar year in which Landlord delivers each such Expansion Space to Tenant. In addition, in the event that Tenant exercises its right to lease particular Expansion Space, then (x) the “L-C Amount,” as that term is defined in Article 21 of this Lease, below, shall thereafter be increased by an amount equal to the product of (A) an amount equal to $40.50 for each rentable square foot in the applicable Expansion Premises, and (B) a percentage, which may be expressed as a fraction, the numerator of which shall be the number of Base Rent payments Tenant shall be required to make during the initial Lease Term with respect to the Expansion Premises, and denominator of which shall be ninety-six (96), and (y) Tenant shall deliver to Landlord, concurrently with Tenant’s execution of the applicable amendment to this Lease with respect to such Expansion Space, an additional L-C which, when combined with the L-C then being held by Landlord totals the full L-C Amount then required under Article 21 and this Section 1.3.

Expansion Rent. The Rent payable by Tenant for the Expansion Space (the "EXPANSION RENT") shall be equal to the Fair Market Rental Rate for such Expansion Space, as defined in Section 2.2.2 of this Lease.

Expansion Rent. The annual Base Rent payable by Tenant for the Expansion Space (the "Expansion Rent") during the Expansion Space Term (as defined in Section 1.4.4 below) shall be equal to the same annual Base Rent payable by Tenant under this Lease with respect to the initial Leased Premises, calculated on a per square foot of Rentable Area basis, and subject to increases (calculated on a per square foot of Rentable Area basis) at the same time as the Base Rent increases for the initial Leased Premises as set forth in Section 8 of the Summary. During the Expansion Space Term, Tenant shall pay Tenant's Share of increases in Operating Expenses for the Expansion Space pursuant to the provisions of Article 6 below, with Tenant's Share for the Expansion Space to be equal to the percentage calculated by dividing the Rentable Area of the Expansion Space by the total Rentable Area within the Building. Except as provided in this Section 1.4.2 below, there shall be no abatement of the Expansion Rent, and the abatement provisions of Section 3.1 below shall not apply with respect to the Expansion Space. Notwithstanding the foregoing, in the event Tenant delivers Tenant's Expansion Notice to Landlord prior to July 1, 2002, Landlord shall abate Tenant's obligation to pay the Expansion Rent (the "Abated ▇▇▇▇▇sion Rent") for the period (the "Abated Expansion Rent Period") commencing as of the Expansion Space Commencement Date (as defined below) and continuing until the earlier of (i) six (6) months after the Expansion Space Commencement Date, or (ii) April 30, 2003. During the Abated Expansion Rent Period, Tenant shall remain responsible for the payment of all of its other monetary obligations under this Lease, including, without limitation, the payment of Base Rent for the initial Leased Premises and the payment of Operating Expenses for the entire Leased Premises, including the Expansion Space, and any First Offer Space leased by Tenant pursuant to Section 1.5 below. In the event of a default by Tenant under the terms of this Lease, as amended by the Expansion Amendment, that results in early termination pursuant to the provisions of Section 16.3 below, then as a part of the recovery set forth in Section 16.3 below, Landlord shall be entitled to the recovery of the Abated Expansion Rent.

Expansion Rent. The annual “Rent”, as that term is defined in Section 4.1 of this Lease, payable by Tenant for any Expansion Space (the “Expansion Rent”) shall be equal to the “Fair Market Rent Rate”, as that term is defined in Section 2.2.2 of this Lease, for such Expansion Space as of the applicable Expansion Space Commencement Date. In the event Tenant timely and appropriately exercises its expansion right with respect to any Expansion Space pursuant to Section 1.4.3, above, the Expansion Rent shall be determined by arbitration pursuant to the terms of Section 2.2.3, below. Any “Expansion Space Improvement Allowance” (as that term is defined in Section 1.4.5, below) shall be a factor in determining the Expansion Rent.

Expansion Rent. Upon the timely and properly exercise of Tenant's expansion rights hereunder, the Premises shall be immediately expanded to include the Expansion Space, and the Annual Base Rent (and Monthly Installment of Base Rent) set forth in Section 4 of the Summary shall be recalculated based upon such increased Rentable Square Footage of the total Premises (including both the initial Premises and the Expansion Space), the Rental Rate per Rentable Square Foot being identical for both the initial Premises and the Expansion Space.

Expansion Rent. The Rent payable by Lessee for Expansion Space leased by Lessee (the "EXPANSION RENT"), which Expansion Rent shall also include a comparable escalation to the Rent made and to be made during the Lease Term for the remainder of the Premises, shall be reasonably determined by Lessor and shall be equal to the greater of (i) the same rate at which Rent is payable by Lessee under the Lease as of the "Expansion Space Commencement Date," as that term is defined in Section 1.5 of this Rider, and (ii) the face or stated rent then being quoted by Lessor for the lease of comparable space in the Buildings to be occupied as of the time of the Expansion Space Commencement Date, excluding, for purposes of calculating the Expansion Rent, rental inducements and concessions then being offered to tenants, and brokerages commissions payable by landlords, shall be disregarded unless the same are then being offered by Lessor to other potential tenants for similar space, in which case such inducements then being offered shall be included within such calculation.

Expansion Rent. The “Rent,” as that term is defined in Section 4.1 of this Lease, below, payable by Tenant for Expansion Space leased by Tenant (the “Expansion Rent”) shall be equal to the rent at which Landlord is leasing comparable space in the Project in recently completed transactions of similar size and term as of the time of the Expansion Space Commencement Date, including the base year in connection therewith, taking into consideration the following concessions: (a) rental abatement concessions, if any, being granted such tenants in connection with such comparable space, (b) tenant improvements or allowances provided or to be provided for such comparable space, taking into account, and deducting the value of, the existing improvements in the Expansion Space, such value to be based upon the age, design, quality of finishes, and layout of the improvements and the extent to which the same could be utilized by a general office user, and (c) all other monetary and non-monetary concessions, if any, being granted such tenants in connection with such comparable space.