Common use of Fixed Monthly Rent Payable Clause in Contracts

Fixed Monthly Rent Payable. As Fixed Monthly Rent during the Extended Term, Tenant shall pay Landlord the Fair Market Value of the Premises for the Extended Term. The term "Fair Market Value" shall be defined as the effective rent reasonably achievable by Landlord, and shall include but not be limited to, all economic benefits obtainable by Landlord, such as Fixed Monthly Rent, periodic Fixed Rent adjustments, Additional Rent in the form of Operating Expense reimbursements, and any and all other monetary or non-monetary consideration that may be given in the market place to a non-renewal tenant, as is chargeable for a similar use of comparable space in the geographic area of the Premises. Said computation shall specifically be based on the Premises in its "as-is" condition, without payment of any brokerage commission to any broker. If either Landlord or Tenant elect to have a broker represent them during negotiations for extension of the Term, and/or Tenant requests the installation of any further improvements into the Premises, the cost of such improvements to be made and/or commissions to be paid shall be amortized over the Extended Term on a straight-line basis, with interest thereon at ten percent (10%), by appropriately increasing the Fair Market Value previously determined. Landlord and Tenant shall have 30 days (the "Negotiation Period") after Landlord receives the Option Notice in which to agree on the Fair Market Value. If Landlord and Tenant agree on the Fair Market Value during the Negotiation Period, they shall immediately execute an amendment to the Lease extending the Term and stating the Fair Market Value.

Fixed Monthly Rent Payable. As Fixed Monthly The Rent payable by Tenant during the Extended Term, Tenant Term (“Option Rent”) shall pay Landlord be equal to 95% of the Fair Market Value of the Premises as of the commencement date of the Extended Term but shall not be less than the sum of Base Rent and Tenant’s Share of Operating Expenses payable by Tenant for the Extended last month of the initial Lease Term. The term "“Fair Market Value" ” shall be defined as the effective rent reasonably achievable by Landlordlandlords in the Westlake Village sub-market of the Conejo Valley, and shall include but not be limited to, all economic benefits obtainable by Landlordlandlords, such as Fixed Monthly Rentfixed monthly rent (including periodic adjustments), periodic Fixed Rent adjustments, Additional Rent additional rent in the form of Operating Expense operating expense reimbursements, and any and all other monetary or non-monetary consideration concessions that may be given in the market place to a non-renewal tenant, as is chargeable for a similar use of comparable space in the geographic area of the Premises. Said computation shall specifically be based on the Premises in its "as-is" condition, without payment of any brokerage commission to any broker. If either Landlord or Tenant elect to have a broker represent them during negotiations for extension of the Term, and/or Tenant requests the installation of any further improvements into the Premises, the cost of such improvements to be made and/or commissions to be paid shall be amortized over the Extended Term on a straight-line basis, with interest thereon at ten percent (10%), by appropriately increasing the Fair Market Value previously determined. Landlord and Tenant shall have 30 thirty (30) days (the "“Negotiation Period"”) after Landlord receives the Option Notice in which to agree on the Fair Market Value. If Landlord and Tenant agree on the Fair Market Value during the Negotiation Period, they shall immediately execute an amendment to the Lease extending the Term and stating the Fair Market Value.

Fixed Monthly Rent Payable. As Fixed Monthly The Rent payable by Tenant during the Fifth Extended Term, Tenant Term (“Option Rent”) shall pay Landlord be equal to the Fair Market Value of the Premises for as of the commencement date of the Fifth Extended Term. The term "“Fair Market Value" ” shall be defined as the effective rent reasonably achievable by Landlord, and shall include but not be limited to, all economic benefits obtainable by Landlord, such as Fixed Monthly Rent, Rent (including periodic Fixed Rent adjustments), Additional Rent in the form of Operating Expense reimbursements, and any and all other monetary or non-monetary consideration that may be given in the market place to a non-renewal tenant, as is chargeable for a similar use of comparable space in the geographic area of the Premises. Said computation shall specifically be based on the Premises in its "“as-is" ” condition, without payment of any brokerage commission to any broker. If either Landlord or Tenant elect to have a broker represent them during negotiations for extension of the Term, and/or Tenant requests the installation of any further improvements into the Premises, the cost of such improvements to be made and/or commissions to be paid shall be amortized over the Extended Term on a straight-line basis, with interest thereon at ten percent (10%), by appropriately increasing the Fair Market Value previously determined. Landlord and Tenant shall have 30 thirty (30) days (the "“Negotiation Period"”) after Landlord receives the Option Notice in which to agree on the Fair Market Value. If Landlord and Tenant agree on the Fair Market Value during the Negotiation Period, they shall immediately execute an amendment to the Lease extending the Fourth Extended Term and stating the Fair Market Value.

Fixed Monthly Rent Payable. As Fixed Monthly The Rent payable by Tenant during the Extended Term, Tenant Term (“Option Rent”) shall pay Landlord be equal to the Fair Market Value of the Premises as of the commencement date of the Extended Term but shall not be less than the sum of Fixed Monthly Rent and Tenant’s Share of Operating Expenses payable by Tenant for the Extended last month of the initial Term. The term "“Fair Market Value" ” shall be defined as the effective rent reasonably achievable by Landlord, and shall include but not be limited to, all economic benefits obtainable by Landlord, such as Fixed Monthly Rent, Rent (including periodic Fixed Rent adjustments), Additional Rent in the form of Operating Expense reimbursements, and any and all other monetary or non-monetary consideration that may be given in the market place to a non-renewal tenant, as is chargeable for a similar use of comparable space in the geographic area of the Premises. Said computation shall specifically be based on the Premises in its "“as-is" ” condition, without payment of any brokerage commission to any broker. If either Landlord or Tenant elect to have a broker represent them during negotiations for extension of the Term, and/or Tenant requests the installation of any further improvements into the Premises, the cost of such improvements to be made and/or commissions to be paid shall be amortized over the Extended Term on a straight-line basis, with interest thereon at ten percent (10%), by appropriately increasing the Fair Market Value previously determined. Landlord and Tenant shall have 30 thirty (30) days (the "“Negotiation Period"”) after Landlord receives the Option Notice in which to agree on the Fair Market Value. If Landlord and Tenant agree on the Fair Market Value during the Negotiation Period, they shall immediately execute an amendment to the Lease extending the Term and stating the Fair Market Value.

Fixed Monthly Rent Payable. As Fixed Monthly The Rent payable by Tenant during the Extended Term, Tenant Term (“Option Rent”) shall pay Landlord be equal to the Fair Market Value of the Premises for as of the commencement date of the Extended Term. The term "“Fair Market Value" ” shall be defined as the effective rent reasonably achievable by Landlord, and shall include but not be limited to, all economic benefits obtainable by Landlord, such as Fixed Monthly Rent, Rent (including periodic Fixed Rent adjustments), Additional Rent in the form of Operating Expense reimbursements, and any and all other monetary or non-monetary consideration that may be given in the market place to a non-renewal tenant, as is chargeable for a similar use of comparable space in the geographic downtown Santa Xxxxxx area of the Premises. Said computation shall specifically be based on the Premises in its "“as-is" ” condition, without payment of any brokerage commission to any broker. If either Landlord or Tenant elect to have a broker represent them during negotiations for extension and in consideration of the Term, and/or Tenant requests the installation of any further improvements into the Premises, the cost of such improvements to be made and/or commissions to be paid fact that there shall be amortized over the Extended Term on a straight-line basis, with interest thereon at ten percent (10%), by appropriately increasing the Fair Market Value previously determinedno period of vacancy. Landlord and Tenant shall have 30 thirty (30) days (the "“Negotiation Period"”) after Landlord receives the Option Notice in which to agree on the Fair Market Value. If Landlord and Tenant agree on the Fair Market Value during the Negotiation Period, they shall immediately execute an amendment to the Lease extending the Term and stating the Fair Market Value.