Market Rate Clause Samples

Market Rate. ‘Market Rate’ shall be the rate as decided by the Engineer-in-charge on the basis of the cost of materials and labour at the site including applicable taxes, duties and also the transportation charge to where the work is to be executed plus the percentage mentioned in schedule `F’ to cover all overheads and profits.

Market Rate. For purposes of Section 1.3 hereof, the term “market rate” Basic Rent shall mean the then fair market rental rate being paid by creditworthy tenants with a similar net worth as Tenant for office buildings in the greater Princeton, New Jersey market area (with adjustment for relevant submarket deviations) that are of comparable location, size, quality and condition as the Demised Premises, for a 10-year term commencing on the first day of such Renewal Term, in its then existing condition, in an arm’s-length transaction between a willing landlord and tenant at the time such rate is established, and considering all buildings, structures and fixtures erected on the Demised Premises (including, without limitation, parking facilities) and replacements thereof (except Tenant’s Property, trade fixtures, machinery and equipment and any alterations or improvements made or caused to be made by Tenant to the Demised Premises). The determination of market rate shall take into consideration among other things the location of the Building; use; the absence of leasehold improvements to be provided by Landlord; the amount of allowances to be provided to Tenant; the extent of services provided by Landlord and by other landlords; market concessions being offered to other tenants, such as rent abatement and rent credits, allowances, and other adjustments, and the fact that no work is to be done by Landlord for Tenant. Market value shall also reflect only the actual brokerage commission, if any, payable by Landlord to an unaffiliated third party broker in connection with renewing this Lease, that the Demised Premises are leased to a single tenant and that Tenant has the right to exclusive possession thereof, that no improvement work or costs will be required by Landlord to convert the space to multi-user space, or otherwise, and that there will be no down time during which a tenant will not be paying rent to Landlord between the expiration of the current Term and the commencement of the Renewal Term. Not earlier than sixteen (16) months and not later than fifteen (15) months prior to the end of the then current Term, Landlord shall notify Tenant of the market rate as determined by Landlord in its good faith judgment for the applicable Renewal Term. Should Tenant disagree with Landlord’s determination, it shall notify Landlord within fifteen (15) business days of receipt of Landlord’s determination and the parties shall meet and attempt to resolve the difference in good faith w...

Market Rate. Employees in job classifications that move down in Market Rate will 39 retain their rate of pay (hourly rate) at the time of the change.

Market Rate. As a clarification of Paragraph 4(ix) of the Master ----------- Agreement, the "market rate" for the Service is understood to refer to the market rate for such services available in comparable hotels, either individually or collectively.

Market Rate. Market Rate means the approximate cost of a good or service under present circumstances if such cost were negotiated at arms’ length, as estimated by the Manager in good faith, based on reasonable assumptions.

Market Rate. The Base Rent stated in Section 3.1 shall be subject to renegotiation effective at the end of the sixtieth month following the commencement of this Lease. The Port will give Lessee written notice for proposed Based Rent applicable to the forthcoming rent period not less than 180 nor more than 270 days prior to an effective date of the commencement of the rent period. Promptly following such notice of renegotiation, the parties shall negotiate in good faith for the renegotiated Base Rent for the forthcoming period. Unless expressly provided to the contrary in another paragraph of this lease, such renegotiated Base Rent shall be the fair market rental value of the Premises. The value of any improvements to the Premises financed by Lessee at no cost to the Port shall be excluded in determining the fair market rental value of the Premises. In the Port’s initial offer during renegotiation of the Base Rent, the Port may rely on past appraisals of properties that the Port deems comparable. In the event that the parties cannot agree on the Base Rent prior to sixty (60) days before the effective date for renegotiated rent, the Base Rent shall be determined, according to the foregoing formula, by three arbitrators, each of whom shall be a member of either the Society of Industrial Realtors or of the Washington-British Columbia Chapter of the American Institute of Real Estate Appraisers and shall be experienced in the valuation of the type of premises subject to this Lease. The appraisal arbitration shall be based on an approach to valuation consistent with the standards of professional appraisal practice and shall include reference to the fair market rental value of comparable properties. The selection of comparable properties and the application of appropriate valuation methodology is to be determined by the arbitrators as a panel. The arbitration panel may ask questions and request further information from each party and will issue a conclusion with regard to valuation. Each party shall select an appraiser to be a member of the arbitration panel within twenty-one (21) days of either party invoking the arbitration process and each party shall compensate the member selected by the party. The third arbitrator shall be selected by the other two members of the panel and be compensated in equal shares by the parties. Each party shall cooperate to expedite the selection of the three arbitrators and in no case may either party delay the selection of the arbitration panel.

Market Rate. The Service Provider shall use reasonable endeavours to ensure that the pricing and Charges are reasonably in line with the prevailing market rate and shall, no more than once a year demonstrate to the Contracting Authority how it is seeking to achieve this.

Market Rate. As used herein "Market Rate" shall mean the then prevailing market rate for full service base rent and with charges for parking, which parking charges shall be in addition to base rent, for tenants of comparable quality for leases in buildings of comparable size, use and location in the Miracle Mile Area, taking into consideration the extent of the availability of space as large as the Premises in the marketplace and all other economic terms and concessions then customarily prevailing in such leases in said marketplace.

Market Rate. Upon exercise by Tenant of an Extension Option and for a period of thirty (30) days thereafter, Landlord and Tenant shall make a good faith effort to agree upon the Market Rate. The “Market Rate” means the rate at which Landlord under no compulsion to lease the Premises and a tenant under no compulsion to lease the Premises would determine as the rental as of the commencement date of such Option Term, taking into consideration all relevant factors, including, without limitation, the uses permitted under the Lease, the quality, size, design and location of the Premises, and the rental for comparable space located in the City of Boulder. The Base Rent for the first year of an Option Term shall not be less than 95% of the Base Rent provided during the last year of the preceding Term.