Common use of Fixed Rent Determinations Clause in Contracts

Fixed Rent Determinations. Landlord shall calculate the Fixed Rent for the next Lease Year and submit its determination of Fixed Rent for the next Lease Year for Tenant’s approval, which determination shall be deemed approved, absent written notice from Tenant setting forth with reasonable specificity and detail any manifest errors in such determination by Landlord within five Business Days after its submission to Tenant. In the event Landlord and Tenant are unable to determine Fixed Rent for any Lease Year on or prior to the commencement of such Lease Year, Tenant shall pay Fixed Rent for such Lease Year assuming a 2.5% increase over the Prior Period Fixed Rent applicable to such Lease Year until the correct Fixed Rent is determined for such Lease Year. If the Fixed Rent ultimately determined for any such Lease Year exceeds the assumed amount, Tenant shall pay any deficiency, together with interest thereon at the Prime Rate from the date originally due until paid, with the first installment of Fixed Rent owing after such determination is made. If the Fixed Rent ultimately determined for any such Lease Year is less than the assumed amount, any excess amounts paid by Tenant on account of the Fixed Rent for such Lease Year shall be credited against the next installment(s) of Fixed Rent due and owing hereunder. At either party’s written request, following the determination of Fixed Rent for a particular Lease Year, both parties shall, not later than five Business Days after the non-requesting party’s receipt of such request, execute and enter into a written instrument memorializing the amount of such Fixed Rent.

Fixed Rent Determinations. Except with respect to the first Lease Year of any Extended Term, promptly after the publication of the Cost of Living Index for the tenth (10th) month during any Lease Year, Landlord shall calculate the CPI Increase and the Fixed Rent for the next Lease Year and submit its determination of Fixed Rent for the next Lease Year for Tenant’s 's review and approval, which determination shall be deemed approved, approved absent written notice from Tenant setting forth with in reasonable specificity and detail any manifest errors in such determination by Landlord and within five (5) Business Days after its submission to Tenant. The determination of Fixed Rent by Landlord shall be deemed correct and approved by Tenant absent manifest error in its determination on the part of Landlord. In the event Landlord and Tenant are unable to determine Fixed Rent for any Lease Year on or prior to the commencement of such Lease Year, Tenant shall pay Fixed Rent for such Lease Year assuming a 2.5% three percent (3%) increase over the Prior Period the Fixed Rent applicable to such Lease Year until the correct Fixed Rent is determined for such Lease Year. If the Fixed Rent ultimately determined for any such Lease Year exceeds the assumed amount, Tenant shall pay any deficiency, together with interest thereon thereon, at the Prime Rate from the date originally due until paidRate, with the first installment of Fixed Rent owing after such determination is made. If the Fixed Rent ultimately determined for any such Lease Year is less than the assumed amount, any excess amounts paid by Tenant on account of the Fixed Rent for such Lease Year shall be credited against the next installment(s) installment of Fixed Rent due and owing hereunder. At either party’s 's written request, following the determination of Fixed Rent for a particular Lease Year, both parties shallshall execute and enter into an amendment to this Lease memorializing the Fixed Rent payable with respect to such Lease Year promptly, not later than and in any event within five (5) Business Days Days, after receipt of such request by the non-requesting party’s receipt of such request, execute and enter into a written instrument memorializing the amount of such Fixed Rent.

Fixed Rent Determinations. Promptly after the publication of the Cost of Living Index for the month that is one (1) month prior to the month containing the last day of any Lease Year (e.g., the month of August, in the case of a Lease Year ending on September 30), Landlord shall calculate the CPI Increase and the Fixed Rent applicable to each Leased Property that has its applicable Lease Year ending on the aforesaid last day for the next Lease Year and submit its such determination of Fixed Rent for the next Lease Year applicable to such Leased Property(ies) for Tenant’s approval, which determination shall be deemed approved, absent written notice from Tenant setting forth with reasonable specificity and detail any manifest errors in such determination by Landlord within five Business Days thirty (30) days after its submission to Tenant. In the event Landlord and Tenant are unable to determine Fixed Rent applicable to such Leased Property(ies) for any Lease Year on or prior to the commencement of such Lease Year, Tenant shall pay Fixed Rent applicable to such Leased Property(ies) for such Lease Year assuming a 2.5% an increase over the Prior Period Fixed Rent applicable to such Lease Year and such Leased Property(ies) calculated pursuant to the applicable Minimum Rent Escalation Amount for each such Leased Property until the correct Fixed Rent applicable to such Leased Property(ies) is determined for such Lease Year. If the Fixed Rent applicable to such Leased Property(ies) ultimately determined for any such Lease Year exceeds the assumed amount, Tenant shall pay any deficiency, together with interest thereon at the Prime Rate from the date originally due until paidRate, with the first installment of Fixed Rent owing after such determination is made. If the Fixed Rent applicable to such Leased Property(ies) ultimately determined for any such Lease Year is less than the assumed amount, any excess amounts paid by Tenant on account of the Fixed Rent for such Lease Year shall be credited against the next installment(s) of Fixed Rent due and owing hereunder. At either party’s written request, following the determination of Fixed Rent for a particular Lease YearYear and applicable to a particular Leased Property(ies), both parties shall, not later than five (5) Business Days after the non-requesting party’s receipt of such request, execute and enter into a written instrument memorializing the amount of such the Fixed RentRent for the Premises and the respective amounts thereof that are applicable to each Leased Property.

Fixed Rent Determinations. Promptly after the publication of the Cost of Living Index for the month that is two (2) months prior to the month containing the last day of a particular Lease Year (e.g., the month of October, in the case of a Lease Year ending on December 31), Landlord shall calculate the CPI Increase and the Fixed Rent for the next Lease Year and submit its determination of Fixed Rent for the next Lease Year for Tenant’s 's approval, which determination shall be deemed approved, absent written notice from Tenant setting forth with reasonable specificity and detail any manifest errors in such determination by Landlord within five Business Days fifteen (15) days after its submission to Tenant. In the event Landlord and Tenant are unable to determine Fixed Rent for any Lease Year on or prior to the commencement of such Lease Year, Tenant shall pay Fixed Rent for such Lease Year assuming a 2.5% two percent (2%) (in the case of each of Lease Years 2 through 5) or three percent (3%) (in the case of each Lease Year after Lease Year 5, including, without limitation, each year of each Extended Term) increase over the Prior Period Fixed Rent applicable to such Lease Year until the correct Fixed Rent is determined for such Lease Year. If the Fixed Rent ultimately determined for any such Lease Year exceeds the assumed amount, Tenant shall pay any deficiency, together with interest thereon at the Prime Rate from the date originally due until paid, with the first installment of Fixed Rent owing after such determination is made. If the Fixed Rent ultimately determined for any such Lease Year is less than the assumed amount, any excess amounts paid by Tenant on account of the Fixed Rent for such Lease Year shall be credited against the next installment(s) of Fixed Rent due and owing hereunder. At either party’s 's written request, following the determination of Fixed Rent for a particular Lease Year, both parties shall, not later than five (5) Business Days after the non-requesting party’s 's receipt of such request, execute and enter into a written instrument memorializing the amount of such Fixed Rent.

Fixed Rent Determinations. Promptly after the publication of the Cost of Living Index for the tenth (10th) month during any Lease Year, Landlord shall calculate the CPI Increase and the Fixed Rent for the next Lease Year and submit its determination of Fixed Rent for the next Lease Year for Tenant’s 's approval, which determination shall be deemed approved, absent written notice from Tenant setting forth with reasonable specificity and detail any manifest errors in such determination by Landlord within five Business Days (5) days after its submission to Tenant. The determination of Fixed Rent by Landlord shall be deemed correct and approved by Tenant absent manifest error in its determination on the part of Landlord. In the event Landlord and Tenant are unable to determine Fixed Rent for any Lease Year on or prior to the commencement of such Lease Year, Tenant shall pay Fixed Rent for such Lease Year assuming a 2.5% one and one-half percent (1.5%) increase over the Prior Period Fixed Rent applicable to such Lease Year until the correct Fixed Rent is determined for such Lease Year. If the Fixed Rent ultimately determined for any such Lease Year exceeds the assumed amount, Tenant shall pay any deficiency, together with interest thereon at the Prime Rate from the date originally due until paid, deficiency with the first installment of Fixed Rent owing after such determination is made. If the Fixed Rent ultimately determined for any such Lease Year is less than the assumed amount, any excess amounts paid by Tenant on account of the Fixed Rent for such Lease Year shall be credited against the next installment(s) installment of Fixed Rent due and owing hereunder. At either party’s 's written request, following the determination of Fixed Rent for a particular Lease Year, both parties shall, not later than five (5) Business Days after the non-requesting party’s 's receipt of such request, execute and enter into a written instrument memorializing the amount of such Fixed RentRent provided, however, the failure to enter such written instrument shall not relieve Tenant of its obligation to pay Fixed Rent as determined hereunder.

Fixed Rent Determinations. Promptly after the publication of the Cost of Living Index for the tenth (10th) month during any Lease Year (promptly after the publication of the Cost of Living Index for May 2009, in the case of the Fourth Lease Year), Landlord shall calculate the CPI Increase (during the Initial Term only) and the Fixed Rent for the next Lease Year and submit its determination of Fixed Rent for the next Lease Year for Tenant’s approval, which determination shall be deemed approved, absent written notice from Tenant setting forth with reasonable specificity and detail any manifest errors in such determination by Landlord within five Business Days thirty (30) days after its submission to Tenant. In the event Landlord and Tenant are unable to determine Fixed Rent for any Lease Year on or prior to the commencement of such Lease Year, Tenant shall pay Fixed Rent for such Lease Year assuming a 2.5% two percent (2%) (in the case of each of Lease Years 4 through 7) or three percent (3%) (in the case of each Lease Year after Lease Year 7) increase over the Prior Period Fixed Rent applicable to such Lease Year until the correct Fixed Rent is determined for such Lease Year. If the Fixed Rent ultimately determined for any such Lease Year exceeds the assumed amount, Tenant shall pay any deficiency, together with interest thereon at the Prime Rate from the date originally due until paidRate, with the first installment of Fixed Rent owing after such determination is made. If the Fixed Rent ultimately determined for any such Lease Year is less than the assumed amount, any excess amounts paid by Tenant on account of the Fixed Rent for such Lease Year shall be credited against the next installment(s) of Fixed Rent due and owing hereunder. At either party’s written request, following the determination of Fixed Rent for a particular Lease Year, both parties shall, not later than five (5) Business Days after the non-requesting party’s receipt of such request, execute and enter into a written instrument memorializing the amount of such Fixed Rent.

Fixed Rent Determinations. Promptly after the publication of the Cost of Living Index for the month that is two (2) months prior to the month containing the last day of a particular Lease Year (e.g., the month of October, in the case of a Lease Year ending on December 31), Landlord shall calculate the CPI Increase and the Fixed Rent for the next Lease Year and submit its determination of Fixed Rent for the next Lease Year for Tenant’s approval, which determination shall be deemed approved, absent written notice from Tenant setting forth with reasonable specificity and detail any manifest errors in such determination by Landlord within five Business Days fifteen (15) days after its submission to Tenant. In the event Landlord and Tenant are unable to determine Fixed Rent for any Lease Year on or prior to the commencement of such Lease Year, Tenant shall pay Fixed Rent for such Lease Year assuming a 2.5% two percent (2%) (in the case of each of Lease Years 2 through 5) or three percent (3%) (in the case of each Lease Year after Lease Year 5, including, without limitation, each year of each Extended Term) increase over the Prior Period Fixed Rent applicable to such Lease Year until the correct Fixed Rent is determined for such Lease Year. If the Fixed Rent ultimately determined for any such Lease Year exceeds the assumed amount, Tenant shall pay any deficiency, together with interest thereon at the Prime Rate from the date originally due until paid, with the first installment of Fixed Rent owing after such determination is made. If the Fixed Rent ultimately determined for any such Lease Year is less than the assumed amount, any excess amounts paid by Tenant on account of the Fixed Rent for such Lease Year shall be credited against the next installment(s) of Fixed Rent due and owing hereunder. At either party’s written request, following the determination of Fixed Rent for a particular Lease Year, both parties shall, not later than five (5) Business Days after the non-requesting party’s receipt of such request, execute and enter into a written instrument memorializing the amount of such Fixed Rent.