Common use of Lease Rate Clause in Contracts

Lease Rate. Effective as of each Renewal Date, a single Lease Rate will be computed equal to the Renewal Rate. The Renewal Rate for each Renewal Term shall be the fair market value lease rate for this type of lease as determined in accordance with the following provisions. The parties shall attempt to determine the fair market value lease rate by mutual agreement within 15 days after the date Tenant gives the Renewal Notice. If the parties do not agree on such lease rate within the 15 day period, the appraisal procedure set forth in Section 13.3 shall be used. The appraisers shall be instructed to appraise the fair market value lease rate as a financing lease rate for a health care facility of the same type as the Facility. The appraised rates submitted by the three appraisers shall be ranked from highest to lowest, the rate (highest or lowest) which is furthest from the middle rate shall be discarded, and the remaining two appraised rates shall be averaged to arrive at the appraised lease rate. The Renewal Rate shall be the appraised lease rate provided, however, that Landlord shall not be obligated to renew this Lease at a Renewal Rate less than the lease rate then being charged by Landlord to tenants of comparable creditworthiness for comparable facilities.

Lease Rate. Effective as of each the Renewal Date, a single Lease Rate will be computed equal to the Renewal Rate. The Renewal Rate for each Renewal Term shall be greater of [i] the sum of [a] the Lease Rate in effect during the then current Lease Year plus [b] the Increaser Rate, or [ii] the fair market value rental lease rate for this type of lease the Facility as determined in accordance with according to the following provisionsprovisions of this section. The parties Landlord and Tenant shall attempt to determine the fair market value rental lease rate for the Facility by mutual agreement within 15 90 days after prior to the expiration date Tenant gives for the Renewal Noticethen current Term. If the parties do not agree on such lease rate within the a 15 day period, the appraisal procedure set forth appraisers shall be chosen as provided in Section 13.3 shall be used13.3.2 to determine the fair market rental lease rate. The appraisers shall be instructed to appraise the fair market value lease rate as a financing an operating lease rate for a health care facility of the same type as the FacilityFacility and shall take into account the lease rate then being charged by Landlord to tenants of comparable creditworthiness for comparable facilities. The appraised rates submitted by the three appraisers shall be ranked from highest to lowest, the rate (highest or lowest) which is furthest from the middle rate shall be discarded, and the remaining two appraised rates shall be averaged to arrive at the appraised fair market rental lease rate. The Renewal Rate shall be the appraised lease rate provided, however, that Landlord shall not be obligated to renew this Lease at a Renewal Rate less than the lease rate then being charged by Landlord to tenants of comparable creditworthiness for comparable facilities.

Lease Rate. Effective as of each the Renewal Date, a single Lease Rate will be computed equal to the Renewal Rate. The Renewal Rate for each the Renewal Term shall be the fair market value lease rate for this type of lease as determined in accordance with the following provisions. The parties shall attempt to determine the fair market value lease rate by mutual agreement within 15 days after the date Tenant gives the Renewal Notice. If the parties do not agree on such lease rate within the 15 day period, the appraisal procedure set forth in Section 13.3 12.2(d) shall be used. The appraisers shall be instructed to appraise the fair market value lease rate as a financing lease rate for a health care facility of the same type as the Facility. The appraised rates submitted by the three appraisers shall be ranked from highest to lowest, the rate (highest or lowest) which is furthest from the middle rate shall be discarded, and the remaining two appraised rates shall be averaged to arrive at the appraised lease rate. The Renewal Rate shall be the appraised lease rate provided, however, that Landlord shall not be obligated to renew this Lease at a Renewal Rate less than the lease rate then being charged by Landlord to tenants of comparable creditworthiness for comparable facilities.

Lease Rate. Effective as of each the Renewal Date, a single Lease Rate will be computed equal to the Renewal Rate. The Renewal Rate for each Renewal Term shall be the greater of [i] the sum of [a] the Lease Rate in effect during the then current Lease Year plus [b] the Increaser Rate, or [ii] the fair market value rental lease rate for this type of lease the Facility as determined in accordance with according to the following provisionsprovisions of this section. The parties Landlord and Tenant shall attempt to determine the fair market value rental lease rate for the Facility by mutual agreement within 15 180 days after prior to the expiration date Tenant gives for the Renewal Noticethen current Term. If the parties do not agree on such lease rate within the a 15 day period, the appraisal procedure set forth appraisers shall be chosen as provided in Section 13.3 shall be used13.3.2 to determine the fair market rental lease rate. The appraisers shall be instructed to appraise the fair market value lease rate as a financing lease rate for a health care facility of the same type as the FacilityFacility and shall take into account the lease rate then being charged by Landlord to tenants of comparable creditworthiness for comparable facilities. The appraised rates submitted by the three appraisers shall be ranked from highest to lowest, the rate (highest or lowest) which is furthest from the middle rate shall be discarded, and the remaining two appraised rates shall be averaged to arrive at the appraised fair market rental lease rate. The Renewal Rate shall be the appraised lease rate provided, however, that Landlord shall not be obligated to renew this Lease at a Renewal Rate less than the lease rate then being charged by Landlord to tenants of comparable creditworthiness for comparable facilities.

Lease Rate. Effective as of each the Renewal Date, a single Lease Rate will be computed equal to the Renewal Rate. The Renewal Rate for each Renewal Term shall be the greater of [i] the sum of [a] the Lease Rate in effect during the then current Lease Year plus [b] the Increaser Rate, or [ii] the fair market value rental lease rate for this type of lease the Facility as determined in accordance with according to the following provisionsprovisions of this section. The parties Landlord and Tenant shall attempt to determine the fair market value rental lease rate for the Facility by mutual agreement within 15 180 days after prior to the expiration date Tenant gives for the Renewal Noticethen current Term. If the parties do not agree on such lease rate within the a 15 day period, the appraisal procedure set forth in Section 13.3 appraisers shall be usedchosen as provided in ss.9.2.5 to determine the fair market rental lease rate. The appraisers shall be instructed to appraise the fair market value lease rate as a financing lease rate for a health care facility of the same type as the FacilityFacility and shall take into account the lease rate then being charged by Landlord to tenants of comparable creditworthiness for comparable facilities. The appraised rates submitted by the three appraisers shall be ranked from highest to lowest, the rate (highest or lowest) which is furthest from the middle rate shall be discarded, and the remaining two appraised rates shall be averaged to arrive at the appraised fair market rental lease rate. The Renewal Rate shall be the appraised lease rate provided, however, that Landlord shall not be obligated to renew this Lease at a Renewal Rate less than the lease rate then being charged by Landlord to tenants of comparable creditworthiness for comparable facilities.