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Common use of Fair Market Rental Clause in Contracts

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:

Appears in 3 contracts

Samples: Office Lease (Impinj Inc), Office Lease (Impinj Inc), Office Lease (Impinj Inc)