Fair Market Rental. If Lessee exercises the right to extend the term of the Lease for the second Extended Term contemplated hereby, then the Base Rent shall be adjusted to equal the Fair Market Rental for the Premises as of the date of the commencement of the second Extended Term, pursuant to the procedures hereinafter set forth. The term “Fair Market Rental” means the Base Rent chargeable for the Premises based upon the following factors applicable to the Premises or any comparable premises:
Fair Market Rental. Fair Market Rental shall be the actual rental rates for comparable space of comparable financial institutions in other comparable areas of Tracy, California, adjusting to account for, with respect to such rental, any difference between the lease and the lease(s) of comparable space, including without limitation, net versus gross lease provisions. Fair Market Rental shall be determined pursuant to the foregoing factors and shall mean the Fair Market Rental in effect as of the beginning of the Option Period. Not less than sixty (60) days before the beginning of each Option Period, Landlord shall notify Tenant of Landlord's determination of the Fair Market Rental for the Premises for the coming Option Period (the Fair Market Rental Notice). If Tenant disputes the amount of the Fair Market Rental as determined by Landlord, Tenant may require that Landlord submit the dispute to arbitration. The judgment rendered in any such arbitration may be entered in any court having jurisdiction and shall be final and binding between parties. The arbitration shall be conducted in San Francisco, California, in accordance with the then prevailing rules of the American Arbitration Association or its successors for arbitration of commercial disputes, except to the extent that the procedures mandated by such rules shall be modified as follows: Tenant shall make demand for arbitration in writing within twenty (20) business days after receipt of the Fair Market Rental Notice, specifying therein the name and address of the person to act as the arbitrator on Tenant's behalf. The arbitrator shall be qualified as a real estate appraiser familiar with the fair market rental of comparable space in comparable areas in Tracy, California. Failure on the part of Tenant to make a timely and proper demand for such arbitration shall constitute a waiver of the right thereto, and rental for the option period shall be the amount stated in the Fair Market Rental Notice. Within ten (10) business days after the service of the demand for arbitration, Landlord shall give notice to Tenant specifying the name and address of the person designated by Landlord to act as arbitrator on its behalf who shall be similarly qualified. If Landlord fails to notify Tenant of the appointment of its arbitrator within or by the time above specified, then the arbitrator appointed by Tenant shall be the arbitrator to determine the issue. If two arbitrators are chosen pursuant to the preceding paragraph, the arbitrators s...
Fair Market Rental. The fair market rental of the Leased Property means the rental which a willing tenant not compelled to rent would pay a willing landlord not compelled to lease for the use and occupancy of the Leased Property pursuant to the Lease for the Term in question, (a) assuming that Lessee is not in default thereunder and (b) determined in accordance with the appraisal procedures set forth in Article XXXIII or in such other manner as shall be mutually acceptable to Lessor and Lessee.
Fair Market Rental. If Tenant exercises the right to extend the term, then the Monthly Base Rent shall be adjusted to equal the Fair Market Rental for the premises as of the date of the commencement of such Extended Term, pursuant to the procedures hereinafter set forth. The term “Fair Market Rental” means the Monthly Base Rent chargeable for the Leased Premises based upon the following factors applicable to the Leased Premises or any comparable premises:
Fair Market Rental. 1. If Tenant exercises the right to extend the term, then the Minimum Monthly Rent shall be adjusted to equal the Fair Market Rental for the premises as of the date of the commencement of such Extended Term, pursuant to the procedures hereinafter set forth. The term “Fair Market Rental” means the Minimum Monthly Rent chargeable for the Premises based upon the following factors applicable to the Premises or any comparable premises:
Fair Market Rental. For purposes of this Section 2, "
Fair Market Rental. As used herein, “Fair Market Rental” means the highest fixed rent per annum which Landlord could reasonably expect to obtain from a third party for the Premises if Landlord put the Premises on the market for lease in “as is” condition for a term corresponding to the Extension Term. If Tenant gives Landlord Tenant’s Extension Notice advising Landlord of the exercise of its option to renew and extend the term of this Lease for the Extension Term as contained herein, and Landlord and Tenant are unable to reach a written agreement as to the Fair Market Rental ninety (90) days prior to the beginning of the Extension Term, such dispute shall be resolved exclusively by resort to the Arbitration (as hereinafter defined). Pending the initiation or outcome of the Arbitration, Tenant shall not withhold any rents demanded by Landlord.
Fair Market Rental. The Base Rent during the Extension will be the Fair Market Rental determined as follows:
Fair Market Rental. Value Section 4.01 entitled Determination of Fair Market Rental Value and Section 4.03 entitled Change in Annual Rent are hereby amended by deleting them in their entirety and replacing same with the following:
Fair Market Rental. Tenant acknowledges that the established the fair market rental for the use and rent of the Premises is a monthly rental of Dollars ($ ). Tenant and Landlord agree, notwithstanding the rent set forth in Article 3 that the value of the established fair market rental is to be contributed by the Landlord on behalf of its citizens as a bona fide gift pursuant to 1983 Ga. Const. Art. IX, Sec. II, Par. VIII for the purpose of meeting the local match requirement of the federal grant for the Program.
