Common use of First Offer Space Rent Clause in Contracts

First Offer Space Rent. The annual "Rent," as that term is defined in Section 4.1 of this Lease, payable by Tenant for the First Offer Space (the "First Offer Rent") shall be equal to the "Market Rent," as that term is defined in Section 2.2.2 of this Lease, for the First Offer Space, pursuant to transactions consummated within the twelve (12) month period preceding the "First Offer Commencement Date," as that term is defined in Section 1.3.4 of this Lease.

First Offer Space Rent. The annual "“Rent," ” as that term is defined in Section 4.1 of this Lease, payable by Tenant for the First Offer Space (the "“First Offer Rent"”) shall be equal to the "“Market Rent," ” as that term is defined in Section 2.2.2 of this Lease, for the First Offer Space, pursuant to transactions consummated within the twelve nine (12) month 9)-month period preceding the "“First Offer Commencement Date," ” as that term is defined in Section 1.3.4 1.3.5 of this Lease.

First Offer Space Rent. The annual "“Rent," ” as that term is defined in Section 4.1 of this Lease, payable by Tenant for the First Offer Space (the "“First Offer Rent"”) shall be equal to the "Market RentRent agreed between Landlord and Tenant, or, if Tenant timely delivers an Irrevocable Exercise Notice, then the “Fair Rental Value," ” as that term is defined in Section 2.2.2 of this Lease, for the First Offer Space, pursuant to transactions consummated within as of the twelve (12) month period preceding the "“First Offer Commencement Date," ” as that term is defined in Section 1.3.4 1.3.5 of this Lease.

First Offer Space Rent. The annual "Rent," as that term is defined in Section 4.1 of this Lease, payable by Tenant for the First Offer Space (the "First Offer Rent") shall be equal to the Rent agreed between Landlord and Tenant, or, if Tenant timely delivers an Irrevocable Exercise Notice, then the "Market RentFair Rental Value," as that term is defined in Section 2.2.2 of this Lease, for the First Offer Space, pursuant to transactions consummated within the twelve (12) month period preceding as of the "First Offer Commencement Date," as that term is defined in Section 1.3.4 1.3.5 of this Lease.