Minimum Rent for the First Year of any other Extended Term. The Minimum Rent for the first lease year of the second and third Extended Terms shall be the greater of (i) the Fair Market Rental Value on the first day of such Extended Term, or (ii) 90% of the Minimum Rent in effect immediately before the beginning of each such Extended Term, as such Minimum Rent shall continue to be adjusted throughout each such Extended Term pursuant to Section 2.1(b) hereof.
Appears in 2 contracts
Samples: Lease Agreement (Global Medical REIT Inc.), Lease Agreement (Global Medical REIT Inc.)
Minimum Rent for the First Year of any other Extended Term. The Minimum Rent for the first lease year of the second second, third and third fourth Extended Terms shall be the greater of (i) the Fair Market Rental Value on the first day of such Extended Term, or (ii) 90% of the Minimum Rent in effect immediately before the beginning of each such Extended Term, as such Minimum Rent shall continue to be adjusted throughout each such Extended Term pursuant to Section 2.1(b) hereof.
Appears in 2 contracts
Samples: Lease Agreement (Global Medical REIT Inc.), Lease Agreement (Global Medical REIT Inc.)
Minimum Rent for the First Year of any other Extended Term. The Minimum Rent for the first lease year of the second and third Extended Terms Term shall be the greater of (i) the Fair Market Rental Value on the first day of such Extended Term, or (ii) 90% of the Minimum Rent in effect immediately before the beginning of each such Extended Term, as such Minimum Rent shall continue to be adjusted throughout each such Extended Term pursuant to Section 2.1(b) hereof.
Appears in 2 contracts
Samples: Lease Agreement (Global Medical REIT Inc.), Lease Agreement (Global Medical REIT Inc.)
Minimum Rent for the First Year of any other Extended Term. The Minimum Rent for the first lease year of the second and third Extended Terms Term shall be the greater of (i) the Fair Market Rental Value on the first day of such Extended Term, or (ii) 90% of the Minimum Rent in effect immediately before the beginning of each such Extended Term, as such Minimum Rent shall continue to be adjusted throughout each such such. Extended Term pursuant to Section 2.1(b) hereof.
Appears in 2 contracts
Samples: Lease Agreement (Global Medical REIT Inc.), Lease Agreement (Global Medical REIT Inc.)
Minimum Rent for the First Year of any other Extended Term. The Minimum Rent for the first lease year of the second second, third and third fourth Extended Terms shall be the greater of (i) the Fair Market Rental Value on the first day of such Extended Term, or (ii) 90% of the Minimum Rent in effect immediately before the beginning of each such Extended Term, as such Minimum Rent shall continue to be adjusted throughout each such Extended Term pursuant to Section 2.1(b) hereof.
Appears in 2 contracts
Samples: Lease Agreement (Global Medical REIT Inc.), Lease Agreement (Global Medical REIT Inc.)