Common use of Market Rent Adjustment Clause in Contracts

Market Rent Adjustment. Four months prior to the commencement of the Option Period, if the selected Rent Adjustment Alternative is the Market Rent Adjustment, the Parties shall negotiate in good faith to determine the Base Rent for the Option Period. If agreement cannot be reached within thirty days, then Landlord and Tenant shall each, no later then 90 days prior to the commencement of the Option Period, make a reasonable determination of the fair market rental for the Premises for the Option Period and submit such determination, in writing, to arbitration in accordance with the following provisions: (i) No later then 90 days prior to the commencement of the Option Period, Landlord and Tenant shall each select an industrial leasing broker to act as an arbitrator. The two arbitrators so appointed shall, no later then 75 days prior to the commencement of the Option Period, select a third mutually acceptable industrial leasing broker to act as a third arbitrator. (ii) The three arbitrators, acting by a majority, shall no later then 75 days prior to the commencement of the Option Period, determine the actual fair market rental for the Premises for the Option Period. The decision of a majority of the arbitrators shall be binding on the Parties. The fair market rental determination of Landlord or Tenant which is closest to the fair market rental as determined by the arbitrators shall be the Base Rent for the Option Period. (iii) If either of the Parties fails to appoint an arbitrator within the period required by this Addendum, the arbitrator timely appointed shall determine the Base Rent for the Option Period. (iv) The entire cost of such arbitration shall be paid by the party whose fair market rental submission is not selected. LANDLORD: TENANT: KEEP YOUR DAY JOB, LLC XXXXXXXXXXX.XXX By: MANSFIELD LAND LLC Name: a Massachusetts limited liability company Title: Its: Manager By: NDNE REALTY, INC. a Massachusetts corporation Its: Manager By: ___________________ Name: Its: AMB PROPERTY, L.P. a Delaware limited partnership By: AMB PROPERTY CORPORATION a Maryland corporation By: _________________________ Name: Xxxxxxx X. Xxxxxx Its: Vice President KEEP YOUR DAY JOB, LLC, A DELAWARE LIMITED LIABILITY COMPANY INDUSTRIAL MULTI-TENANT LEASE EARLY POSSESSION AND INDUCEMENT RECAPTURE ADDENDUM This Early Possession and Inducement Recapture Addendum is a part of the Lease dated _______________________________, by and between KEEP YOUR DAY JOB, LLC ("Landlord") and XXXXXXXXXXX.XXX ("Tenant") for the premises commonly known as ------------------------------.

Appears in 3 contracts

Samples: Industrial Multi Tenant Lease (Smarterkids Com Inc), Industrial Multi Tenant Lease (Learningstar Inc), Industrial Multi Tenant Lease (Smarterkids Com Inc)

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Market Rent Adjustment. Four months prior to the commencement of the each Option Period, if the selected Rent Adjustment Alternative is the Market Rent Adjustment, the Parties shall negotiate in good faith to determine the Base Rent for the Option Period. If agreement cannot be reached within thirty 30 days, then Landlord and Tenant shall each, no later then 90 days prior to the commencement of the Option Period, make a reasonable determination of the fair market rental for the Premises for the Option Period and submit such determination, in writing, to arbitration in accordance with the following provisions: (i) No later then than 90 days prior to the commencement of the Option Period, Landlord and Tenant shall each select an industrial leasing broker to act as an arbitrator. The two arbitrators so appointed shall, no later then 75 days prior to the commencement of the Option Period, select a third mutually acceptable industrial leasing broker to act as a third arbitrator. (ii) The three arbitrators, acting by a majority, shall no later then 75 days prior to the commencement of the Option Period, determine the actual fair market rental for the Premises for the Option Period. The decision of a majority of the arbitrators shall be binding on the Partiesparties. The fair market rental determination of Landlord or Tenant which is closest to the fair market rental as determined by the arbitrators shall be the Base Rent for the Option Period. (iii) If either of the Parties parties fails to appoint an arbitrator within the period required by this Addendum, the arbitrator timely appointed shall determine the Base Rent for the Option Period. (iv) The entire cost of such arbitration shall be paid by the party whose fair market rental submission is not selected. LANDLORDLandlord: TENANTTenant: KEEP YOUR DAY JOB, LLC XXXXXXXXXXX.XXX By: MANSFIELD LAND LLC Name: a Massachusetts limited liability company Title: Its: Manager By: NDNE REALTY, INC. a Massachusetts corporation Its: Manager By: ___________________ Name: Its: AMB PROPERTYWALSTIB, L.P. PharmaFab, Inc. a Delaware limited partnership By: AMB PROPERTY CORPORATION a Maryland corporation WALSTIB Venture, L.L.C., By: _________________________ Name/s/ Xxxxx Xxxxxxxxxx a Delaware limited liability company Its: Xxxxxxx President Its sole general partner Telephone: 000 000 0000 By: TCDFW Development, Ltd., Facsimile: 000 000 0000 a Texas limited partnership Executed at: Fort Worth, Texas Its Administrative Member on: 10 June 1999 By: Xxxxxxxx Xxxx DFW Development, Inc., a Delaware corporation Its sole general partner By: /s/ Xxxxxx X. Xxxxxx Its: Executive Vice President KEEP YOUR DAY JOBTelephone: (214) 979–6180 Facsimile: (214) 979–6355 Executed at: 0000 Xxxx Xxx., LLCSuite 3700 on: June 29, A DELAWARE LIMITED LIABILITY COMPANY INDUSTRIAL MULTI-TENANT LEASE EARLY POSSESSION AND INDUCEMENT RECAPTURE ADDENDUM 1999 This Early Possession and Inducement Recapture Additional Security Deposit Addendum is a part of the Lease dated _______________________________June 29, 1999 by and between KEEP YOUR DAY JOBWALSTIB, LLC L.P., a Delaware limited partnership ("Landlord") and XXXXXXXXXXX.XXX PharmaFab, Inc., a Texas corporation ("Tenant") for the premises commonly known as ------------------------------000 Xxxxxxxxx Xxxxxxxx Xxxxxx (Building B). Tenant agrees to pay Landlord an Additional Security Deposit in the amount of $80,000.00 that can be held in the form of a Certificate Of Deposit or Letter Of Credit. Such Additional Security Deposit shall be refunded after five (5) years, unless during the first five (5) years of occupancy there have occurred three (3) or more Defaults which were not cured within any applicable notice or grace period. If the Additonal Security Deposit is in the form of a Certificate Of Deposit or Letter Of Credit and the Premises are sold, Tenant shall, at its expense, cause the Certificate Of Deposit or Letter Of Credit, as the case may be, to be reissued in the name of the purchaser.. Landlord: Tenant: WALSTIB, L.P. PharmaFab, Inc. a Delaware limited partnership By: WALSTIB Venture, L.L.C., By: /s/ Xxxxx Xxxxxxxxxx a Delaware limited liability company Its: President Its sole general partner Telephone: 000 000 0000 Facsimile: 000 000 0000 By: TCDFW Development, Ltd., Executed at: Fort Worth, Texas a Texas limited partnership on: 10 June 1999 Its Administrative Member By: Xxxxxxxx Xxxx DFW Development, Inc., a Delaware corporation Its sole general partner By: /s/ Xxxxxx X. Xxxxxx Its: Executive Vice President Telephone: (214) 979–6180 Facsimile: (214) 979–6355 Executed at: 0000 Xxxx Xxx., Suite 3700 on: June 29, 1999

Appears in 2 contracts

Samples: Commercial Lease Agreement (Neos Therapeutics, Inc.), Commercial Lease Agreement (Neos Therapeutics, Inc.)

Market Rent Adjustment. Four months prior to the commencement of the each Option Period, if the selected Rent Adjustment Alternative is the Market Rent Adjustment, the Parties shall negotiate in good faith to determine the Base Rent for the Option Period. If agreement cannot be reached within thirty 30 days, then Landlord and Tenant shall each, no later then 90 days prior to the commencement of the Option Period, make a reasonable determination of the fair market rental for the Premises for the Option Period and submit such determination, in writing, to arbitration in accordance with the following provisions: (i) No later then than 90 days prior to the commencement of the Option Period, Landlord and Tenant shall each select an industrial leasing broker to act as an arbitrator. The two arbitrators so appointed shall, no later then 75 days prior to the commencement of the Option Period, select a third mutually acceptable industrial leasing broker to act as a third arbitrator. (ii) The three arbitrators, acting by a majority, shall no later then 75 days prior to the commencement of the Option Period, determine the actual fair market rental for the Premises for the Option Period. The decision of a majority of the arbitrators shall be binding on the Partiesparties. The fair market rental determination of Landlord or Tenant which is closest to the fair market rental as determined by the arbitrators shall be the Base Rent for the Option Period. (iii) If either of the Parties parties fails to appoint an arbitrator within the period required by this Addendum, the arbitrator timely appointed shall determine the Base Rent for the Option Period. (iv) The entire cost of such arbitration shall be paid by the party whose fair market rental submission is not selected. LANDLORD​ ​ ​ Landlord: TENANTTenant: KEEP YOUR DAY JOB​ ​ ​ ​ XXXXXXX, LLC XXXXXXXXXXX.XXX By: MANSFIELD LAND LLC Name: a Massachusetts limited liability company Title: Its: Manager By: NDNE REALTYX.X. ​ PharmaFab, INC. a Massachusetts corporation Its: Manager By: ___________________ Name: Its: AMB PROPERTY, L.P. Inc. a Delaware limited partnership ​ ​ ​ ​ ​ ​ By: AMB PROPERTY CORPORATION a Maryland corporation WALSTIB Venture, L.L.C., ​ By: _________________________ Name: Xxxxxxx X. Xxxxxx ​ ​ a Delaware limited liability company ​ Its: Vice President KEEP YOUR DAY JOB, LLC, A DELAWARE LIMITED LIABILITY COMPANY INDUSTRIAL MULTI-TENANT LEASE EARLY POSSESSION AND INDUCEMENT RECAPTURE ADDENDUM This Early Possession and Inducement Recapture Addendum is a part of the Lease dated _______________________________, by and between KEEP YOUR DAY JOB, LLC ("Landlord") and XXXXXXXXXXX.XXX ("Tenant") for the premises commonly known as ------------------------------.​ ​ Its sole general partner ​ Telephone: ​

Appears in 1 contract

Samples: Commercial Lease Agreement (Aytu Biopharma, Inc)

Market Rent Adjustment. Four months prior to the commencement of the each Option Period, if the selected Rent Adjustment Alternative is the Market Rent Adjustment, the Parties shall negotiate in good faith to determine the Base Rent for the Option Period. If agreement cannot be reached within thirty days, then Landlord and Tenant shall each, no later then 90 days prior to the commencement of the Option Period, make a reasonable determination of the fair market rental for the Premises for the Option Period and submit such determination, in writing, to arbitration in accordance with the following provisions: (i) No later then 90 days prior to the commencement of the Option Period, Landlord and Tenant shall each select an industrial leasing broker to act as an arbitrator. The two arbitrators so appointed shall, no later then 75 days prior to the commencement of the Option Period, select a third mutually acceptable industrial leasing broker to act as a third arbitrator. (ii) The three arbitrators, acting by a majority, shall no later then 75 days prior to the commencement of the Option Period, determine the actual fair market rental for the Premises for the Option Period. The decision of a majority of the arbitrators shall be binding on the Parties. The fair market rental determination of Landlord or Tenant which is closest to the fair market rental as determined by the arbitrators shall be the Base Rent for the Option Period. (iii) If either of the Parties fails to appoint an arbitrator within the period required by this Addendum, the arbitrator timely appointed shall determine the Base Rent for the Option Period. (iv) The entire cost of such arbitration shall be paid by the party whose fair market rental submission is not selected. LANDLORDWITNESS Landlord: TENANT: KEEP YOUR DAY JOBAMB Property, LLC XXXXXXXXXXX.XXX L.P., a Delaware limited partnership /s/ Xxxxxxxx X. Xxxxx Xxxxxxxx X. Xxxxx By: MANSFIELD LAND LLC NameAMB Property Corporation, a Maryland corporation, its G.P. By: a Massachusetts limited liability company Title: /s/ Xxxxxxxx X. Kombours Its: Manager Vice President WITNESS Immucor, Inc., a Georgia corporation /s/ C Xxxxxx By: NDNE REALTY, INC. a Massachusetts corporation /s/ Xxxxx X. Xxxx Its: Manager By: ___________________ Name: ItsSenior Vice President LANDLORD: AMB PROPERTY, L.P. a Delaware limited partnership ByTENANT: AMB PROPERTY CORPORATION a Maryland corporation ByIMMUCOR, INC. LEASE DATE: _________________________ Name, 2005 PREMISES: Xxxxxxx X. Xxxxxx Its: Vice President KEEP YOUR DAY JOB0000 XXXXXXX XXXX, LLCXXXXX X XXXXXXX, A DELAWARE LIMITED LIABILITY COMPANY INDUSTRIAL MULTI-TENANT LEASE EARLY POSSESSION AND INDUCEMENT RECAPTURE ADDENDUM This Early Possession and Inducement Recapture Addendum is a part XXXXXXX 00000 Subject to Landord’s obligations under Section 3.3 of the Lease, Tenant hereby accepts the Premises as being in the condition required under the Lease. The Commencement Date of the Lease dated _______________________________is , by and between KEEP YOUR DAY JOB. The Expiration Date of the Lease is , LLC ("Landlord") and XXXXXXXXXXX.XXX ("Tenant") for the premises commonly known as ------------------------------.

Appears in 1 contract

Samples: Industrial Multi Tenant Lease (Immucor Inc)

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Market Rent Adjustment. Four months prior to the commencement of the Option Period, if the selected Rent Adjustment Alternative is the Market Rent Adjustment, the Parties shall negotiate in good faith to determine the Base Rent for the Option Period. If agreement cannot be reached within thirty days, then Landlord and Tenant shall each, no later then 90 days prior to the commencement of the Option Period, make a reasonable determination of the fair market rental for the Premises for the Option Period and submit such determination, in writing, to arbitration in accordance with the following provisions: (i) No later then 90 days prior to the commencement of the Option Period, Landlord and Tenant shall each select an industrial leasing broker to act as an arbitrator. The two arbitrators so appointed shall, no later then 75 days prior to the commencement of the Option Period, select a third mutually acceptable industrial leasing broker to act as a third arbitrator. (ii) The three arbitrators, acting by a majority, shall no later then 75 days prior to the commencement of the Option Period, determine the actual fair market rental for the Premises for the Option Period. The decision of a majority of the arbitrators shall be binding on the Parties. The fair market rental determination of Landlord or Tenant which is closest to the fair market rental as determined by the arbitrators shall be the Base Rent for the Option Period. (iii) If either of the Parties fails to appoint an arbitrator within the period required by this Addendum, the arbitrator timely appointed shall determine the Base Rent for the Option Period. (iv) The entire cost of such arbitration shall be paid by the party whose fair market rental submission is not selected. LANDLORD: TENANT: KEEP YOUR DAY JOBLONG GATE, LLC XXXXXXXXXXX.XXX By: MANSFIELD LAND LLC Name: a Massachusetts limited liability company Title: Its: Manager By: NDNE REALTYSDL COMMUNICATIONS, INC. a Massachusetts corporation Its: Manager By: ___________________ Name: Its: AMB PROPERTY, L.P. a Delaware limited partnership By: AMB PROPERTY CORPORATION a Maryland corporation Property Holding Corporation By /s/ X.X. Xxxxx Its: Managing Member X.X. Xxxxx Title: Secretary By: _________________________ Name: /s/ X. X. Xxxxxx Xxxxxxx X. Xxxxxx Its: Vice President KEEP YOUR DAY JOBLONG GATE, LLC, A DELAWARE LIMITED LIABILITY COMPANY INDUSTRIAL MULTI-TENANT LEASE EARLY POSSESSION AND INDUCEMENT RECAPTURE ADDENDUM Early Possession and Inducement Recapture Addendum This Early Possession and Inducement Recapture Addendum is a part of the Lease dated _______________________________, by and between KEEP YOUR DAY JOBLONG GATE, LLC ("Landlord") and XXXXXXXXXXX.XXX SDL COMMUNICATIONS, INC. ("Tenant") for the premises commonly known as ------------------------------00 Xxxxxx Xxxx, Xxxxxxxxx, Xxxxxxxxxxxxx.

Appears in 1 contract

Samples: Industrial Multi Tenant Lease (SBS Technologies Inc)

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