New Rent Sample Clauses

New Rent. The Annual Base Rent for the Extension Period shall be equal to the prevailing fair market rental rate for the Extension Period (such prevailing fair market rental rate, the “Market Rent”) for Tenant’s space based on comparable so-called “triple net” lease renewal transactions in comparable first class laboratory buildings in the City of Cambridge as of the commencement of the Extension Period, taking into account all relevant market factors including, without limitation, location, proximity to public transportation, building age, quality, and amenities, nearby retail and dining options, and taking into account market concessions granted in such comparable transactions including, without limitation, free rent periods and improvement allowances. During the Extension Period the Additional Rent shall continue to be payable as provided in the Lease and all of the terms, conditions and covenants of this Lease shall apply.

New Rent. 2.1 The New Rent referred to in the Fourth Schedule shall be determined in accordance with the provisions of this Paragraph 2. 2.2 The New Rent shall be determined by agreement between the Landlord and the Tenant and such agreement shall be recorded in writing signed by the Landlord and the Tenant. 2.3 If such agreement cannot be reached between the Landlord and the Tenant one (1) month before the commencement of the period in respect of which the New Rent is payable (hereinafter called "THE NEW RENT PERIOD"), the matter shall be referred to an independent surveyor and valuer (hereinafter called "THE VALUER") to be appointed by the Landlord and the Tenant within one (1) month before the commencement of the New Rent Period and failing agreement as to the appointment, shall be appointed by the Chairman for the time being of The Royal Institute of Chartered Surveyors (Hong Kong Branch). The Valuer shall make a decision as to the New Rent before the commencement of the New Rent Period and subject to approval by the mortgagee of the Premises (the approval of the mortgagee not to be unreasonably withheld), the decision of the Valuer shall be conclusive and binding on the parties hereto. 2.4 In determining the New Rent, the Valuer shall act as an expert and not as an arbitrator and shall take into account the open market rent for prime office accommodation elsewhere in Central, Hong Kong and/or in similar office buildings in Hong Kong having attributes comparable to those of the Buildings at the commencement of the New Rent Period Provided that the Valuer shall take into such open market rent per se and disregard all incentives (including without limitation rent free period and decoration or removal allowances) that may have the effect of reducing the effective return on such open market rent. The Valuer shall act on the assumptions that as at that date: (a) the Premises are fit for immediate occupation and use complete and that the works, if any, carried out by the Tenant or its sub-tenants (if any and whether permitted hereunder or otherwise) or the predecessor in title of the Tenant do not in any way diminish or increase the rental value of the Premises and that in case the Premises have been damaged or destroyed, they have been fully reinstated and restored; (b) the Premises are available for letting by a willing landlord to a willing tenant with vacant possession and without a premium and subject to the provisions of this Lease for a term equal to the New Re...

New Rent. Commencing on April 1, 1997, Mercantile's monthly rent for the Premises shall be $___________.

New Rent. 3.1 The New Rent may be agreed in writing at any time between the parties or (in the absence of agreement) will be determined by the Valuer. 3.2 The New Rent to be determined by the Valuer shall be such as he shall decide to be the rent which would reasonably be expected to become payable for the Premises after the expiry of a rent free period for fitting out purposes taking into account the rents obtainable at the New Term Start Date for premises of a similar size and with similar characteristics as the Premises in the Development or other similar developments in the PRC, and making the Assumptions but disregarding the Disregarded Matters. 3.3 The Valuer shall act as an expert and not as an arbitrator and his decision shall be conclusive and binding on the parties. 3.4 Party B must allow the Valuer access to the Premises to do anything which the Valuer considers necessary to carry out his function. 3.5 The costs and expenses of the Valuer including the cost of his appointment shall be borne by the parties in equal shares unless otherwise determined by the Valuer. 3.6 When the New Rent has been ascertained in accordance with this Schedule, Party A and Party B shall enter into a new lease on the terms set out in this Schedule and the parties shall bear their own costs of this.

New Rent. If Tenant exercises the Extension Option, all references in this Lease to the “Term” as related to the Premises shall mean the Initial Term, as extended by the Extension Term, unless the context clearly provides to the contrary, and all of the terms, covenants and conditions of this Lease shall continue in full force and effect with respect to the Premises during the Extension Term, except that (x) Base Rent for the Extension Period shall be equal to ninety-five percent (95%) of the then prevailing fair market rental rate for fixed annual base rents as of the beginning of the Extension Period for arms-length lease renewal transactions for comparable premises in comparable office buildings in the greater Burlington area, taking into account all relevant factors (the “Market Rent”), as set forth in the Market Rent Notice (as defined below), which Market Rent shall be escalated during the Extension Period based on market terms, (y) the Base Operating Year and the Base Tax Year shall be adjusted to the Operating Year and Tax Year, respectively, in which the Extension Term commences, and (z) Tenant will have no further right to extend the Term. Market Rent (x) may include provision for annual increases in annual Base Rent during said Extension Period, (y) shall take into account the as-is condition of the Premises, the Building and the Property (including the Park amenities), and (z) shall take account of, and be expressed in relation to, the payment in respect of Taxes and Operating Expenses and other provisions of the Lease (including but not limited to the adjusted base years for Landlord’s Tax Expenses and Landlord’s Operating Expenses provided for in this Lease) and for Tenant paying for so called tenant electricity as contained in the Lease.

New Rent. THE ANNUAL BASE RENT FOR EXTENSION PERIODS SHALL BE AS FOLLOWS: (A) $290,400.00 (ON A TRIPLE NET BASIS) DURING EACH LEASE YEAR OF THE FIRST EXTENSION PERIOD PAYABLE IN MONTHLY INSTALLMENTS OF $24,200.00; AND (B) $319,440.00 (ON A TRIPLE NET BASIS) DURING EACH LEASE YEAR OF THE SECOND EXTENSION PERIOD PAYABLE IN MONTHLY INSTALLMENTS OF $26,620.00. DURING THE EXTENSION PERIODS, THE ADDITIONAL RENT SHALL CONTINUE TO BE PAYABLE AS PROVIDED IN THE LEASE AND ALL OF THE TERMS, CONDITIONS AND COVENANTS OF THIS LEASE SHALL APPLY; AND

New Rent. The Annual Base Rent for each Extension Period shall be equal to the greater of: (i) the Annual Base Rent payable during the final Lease Year of the original Term (with respect to the first Extension Period) and the Annual Base Rent payable during the final Lease Year of the first Extension Period (with respect to the second Extension Period), or (ii) the then prevailing fair market rental rate (such prevailing fair market rental rate, the "Market Rent") for Tenant's space; during the Extension Period the Additional Rent shall continue to be payable in the amount and manner as provided in the Lease with the same Base Taxes and Base Expense Year as established in Section 5.01 (except as set forth in the next sentence) and all of the terms, conditions and covenants of this Lease shall apply. If the Annual Base Rent for the Extension Period is determined under (ii) above because the Market Rent is greater than the Annual Base Rent applicable under (i), then Base Taxes and Base Expenses shall be the actual amount of Taxes and Operating Expenses for the last calendar year ending prior to the first Extension Period or second Extension Period, as applicable, and Market Rent shall be determined taking the same into account.

New Rent. The Annual Base Rent for the Extension Period shall be equal to the prevailing fair market rental rate for the Extension Period (such prevailing fair market rental rate, the “Market Rent”) for Tenant’s space based on comparable so-called “triple net” lease renewal transactions in comparable buildings in the suburban Route 128 corridor office/lab market located in Needham, Newton and to the south, as of the commencement of the Extension Period, taking into account all relevant market factors but excluding any rental value attributable to leasehold improvements above (a) the rental value attributable to the existing leasehold improvements as of the date of this Lease, plus (b) the rental value attributable to leasehold improvements constructed by use of Finish Work Allowance, but in no event shall the Annual Base Rent for the Extension Period be lower than the Annual Base Rent paid by Tenant during the Lease Year immediately preceding the Extension Period. During the Extension Period the Additional Rent shall continue to be payable as provided in the Lease and all of the terms, conditions and covenants of this Lease shall apply.

New Rent. The new rent shall be based on 9,100 starting the first month execution of this Lease Agreement. The rental rate shall be the same per square foot as in the Lease Agreement. Beginning the of the month following execution of this Amendment, the Base Rent shall be $5,460.00 per month thru June 201 1. Beginning July 1,2011 the Base Rent shall be 1.00 per month Beginning July 1,2012 the Base Rent shall be $5,642.00 per month Beginning July 1,2013 the Base Rent shall be $5,733.00 per month Beginning July 1,2014 the Base Rent shall be $5,824.00 per month Beginning July 1, 2015 the Base Rent shall be 15.OO per month In addition to Base Rent above, the NNN charges shall be changed to reflect the addition of 2,600 For a total of 9100

New Rent. The Rent for the Extension Period shall be equal to the greater of: (a) the Annual Base Rent and Additional Rent payable under Article 5 hereof during the final Lease Year of the original Term, or (b) the then prevailing fair market rental rate (such prevailing fair market rental rate, the “Market Rent”) for Tenant's space. If the Rent for the Extension Period is determined under clause (a) above, then Base Taxes and Base Expenses applicable during this Extension Period shall be the actual amount of Taxes and Operating Expenses, respectively, for the last Lease Year of the Initial Term. During the Extension Period the Additional Rent shall continue to be payable as provided in the Lease and all of the terms, conditions and covenants of this Lease shall apply.