Option Period Monthly Rent Sample Clauses

Option Period Monthly Rent. For the purposes of this section, the "then-fair market rental value of the premises" means what a Landlord under no compulsion to lease the premises and a Tenant under no compulsion to lease the premises would determine as rents (including initial monthly rent and rental increases) for the option period, as of its commencement, taking into consideration the uses permitted under this lease, the quality, size, design and location of the premises, and the rent for comparable buildings located in the vicinity of the premises. Except, however, that the initial monthly rent and yearly rent increases for the option period shall not be less than that provided during the initial lease term. Landlord and Tenant shall have thirty (30) days after Landlord receives the option notice within which to agree on the then-fair market rental value of the premises. If Landlord and Tenant are unable to agree on the then-fair market value of the premises during that period, the then-fair market rental value of the premises shall be determined as follows: Within seven (7) days after the expiration of the thirty (30) day period set forth in the preceding paragraph, Landlord and Tenant shall each, at their own expense, appoint a real estate appraiser with at least five (5) years' full-time commercial appraisal experience in the area in which the premises are located to determine the then-fair market rental value of the premises. If either Landlord or Tenant does not appoint an appraiser within ten (10) days after receiving notice by the other of the name of its appraiser, the single appraiser appointed will be the sole appraiser and will set the then-fair market rental value of the premises. If two appraisers are appointed, they will meet promptly and attempt to agree upon the then-fair market rental value of the premises. If the two appraisers are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to select a third appraiser within ten (10) days after said thirty (30) day period. If they are unable to agree on the third appraiser, either Landlord or Tenant, by giving ten (10) days' prior notice to the other, can apply to the president of the Alameda County Real Estate Board or the American Arbitration Association for the selection of a third appraiser. The third appraiser, however selected, must meet the qualifications stated in this subsection and be a person who has not previously acted in any capacity for either Landlord o...
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Option Period Monthly Rent. For the purposes of this section, the "then-fair market rental value of the Premises" means what a Landlord under no compulsion to lease the Premises and a Tenant under no compulsion to lease the Premises would determine as rents (including initial monthly rent and rental increases) for the option period, as of its commencement, taking into consideration the uses permitted under this lease, the quality, size, design and location of the Premises, and the rent for comparable buildings located in the vicinity of the Premises. Except, however, that the initial monthly rent and yearly rent increases for the option period shall not be less than that provided during the initial lease term.
Sample 1Sample 2Sample 3
Option Period Monthly Rent. Due to the longevity of tenancy and Tenants status as an excellent tenant, Landlord has predetermined and calculated the rental rates for each of the two (2), five-year option periods. Rent increases based on the 3% adjustment beginning with each of the option periods have been calculated and are further described in Exhibit C, attached to and made a part of this Lease.
Sample 1
Option Period Monthly Rent. December 1, 2013: $ 920.70 per month December 1, 2014: $ 920.70 per month December 1, 2015: $1023.00 per month December 1, 2016: $1023.00 per month December 1, 2017: $1023.00 per month
Sample 1
Option Period Monthly Rent. The Monthly Rent at the commencement of the first year of each of the Option Periods and each year thereafter will be the monthly rent in effect at the end of the initial Term of this Lease plus two percent (2%).
Sample 1
Option Period Monthly Rent. The Monthly Rent for the Option Period shall be determined as follows: (i) The parties shall have fifteen (15) days after Landlord receives the Option Notice within which to agree on the Monthly Rent for the Option Period. If the parties agree on the Monthly Rent for the Option Period within fifteen (15) days, they shall immediately execute an amendment to this Lease stating the Monthly Rent for the Option Period. If the parties are unable to agree on the Monthly Rent within fifteen (15) days, then, the initial Monthly Rent for the Option Period shall be the greater of (A) $95,709.00 per month and (B) ninety-five percent (95%) of the then current fair market rental value of the Premises as determined in accordance with Paragraph 7.B.(iii). The initial Monthly Rent shall be subject to such periodic increases in Monthly Rent as are then customary, in both amount or percentage amounts and frequency, for leases similar to this Lease taking into consideration the same items considered in determining the then fair market rental value of the Premises, but in no event less than three and 25/100ths percent (3.25%) per annum.
Sample 1
Option Period Monthly Rent. The monthly rent for the Option Period will be determined as follows: (1) The then-fair market rental value of the Premises, as defined in paragraph 27.29(b)(2) below, or the current Monthly Rent, whichever is greater. (2) The "then-fair market rental value of the Premises" means what a landlord under no compulsion to lease the Premises and a tenant under no compulsion to lease the Premises would determine as rent (including initial monthly rent and rental increase) for the Option Period, excluding any tenant improvement allowance, as of the commencement of the Option Period, taking into consideration the uses permitted under this Lease, the quality, size, design and location of the Premises, and the rent for comparable buildings located in the vicinity of Phoenix. The then-fair market rental value of the Premises and the rental increases in the monthly rent for the Option Period will not be less than that provided during the initial term, (3) Within 30 days after receiving written notice from Tenant of its intent to exercise this option, Landlord shall determine the then fair market value of the Premises, and advise Tenant in writing.
Sample 1
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Option Period Monthly Rent. The net Monthly Rent for the Option Period shall be determined as follows: (i) The parties shall have fifteen (15) days after Landlord receives the Option Notice within which to agree on the net Monthly Rent for the Option Period based upon the then fair market rental value of the Premises as defined in Paragraph 38.B.(iii). If the parties agree on the net Monthly Rent for the Option Period within fifteen (15) days, they shall immediately execute an amendment to this Lease stating the net Monthly Rent for the Option Period. (ii) If the parties are unable to agree on the net Monthly Rent for the Option Period within fifteen (15) days, then, the net Monthly Rent for the Option Period shall be the then current fair market rental value of the Premises as determined in accordance with Paragraph 38.B.(iv). (iii) The "then fair market rental value of the Premises" shall be defined to mean the fair market rental value of the Premises as of the commencement of the Option Period, taking into consideration the uses permitted under this Lease, the quality, size, design and location of the Premises, and the rent for comparable buildings located in Santa Clarx. Xx no event, however, shall the fair market monthly rental value of the Premises for the Option Period be less than the net Monthly Rent payable under the Lease during the last month of the Term as adjusted by the percentage increase in the Consumer Price Index, All Item, All Urban Consumers, published by the U.S. Department of Labor, Bureau of Labor Statistics for the San Francisco-Oakland-San Jose Xxxropolitan Area (1982-84=100) from the Commencement Date to the date of the Option Notice, nor shall such fair market monthly rental value of the Premises exceed one hundred ten percent (110%) of the net Monthly Rent payable during the last month of the Term. (iv) Within seven (7) days after the expiration of the fifteen (15) day period set forth in Paragraph 38.B.(ii), each party, at its cost and by giving notice to the other party, shall appoint a real estate appraiser with at least five (5) years' Within thirty (30) days after the selection of the third appraiser, a majority of the appraisers shall set the net Monthly Rent. If a majority of the appraisers are unable to set the net Monthly Rent within the stipulated period of time, the three (3) appraisals shall be added together and their total divided by three (3); the resulting quotient shall be the net Monthly Rent. If, however, the low appraisal and/or the hi...
Sample 1

Related to Option Period Monthly Rent

  • Monthly Rent a. Commencing as of the Commencement Date, and continuing thereafter on or before the first day of each calendar month during the term hereof, Tenant shall pay to Landlord, as monthly rent for the Premises, the Monthly Rent specified in Paragraph 2 above. If Tenant’s obligation to pay Monthly Rent hereunder commences on a day other than the first day of a calendar month, or if the term of this Lease terminates on a day other than the last day of a calendar month, then the Monthly Rent payable for such partial month shall be appropriately prorated on the basis of a thirty (30)-day month. Monthly Rent and the Additional Rent specified in Paragraph 7 shall he paid by Tenant to Landlord, in advance, without deduction, offset, prior notice or demand, in immediately available funds of lawful money of the United States of America, or by good check as described below, to the lockbox location designated by Landlord, or to such other person or at such other place as Landlord may from time to time designate in writing. Payments made by check must be drawn either on a California financial institution or on a financial institution that is a member of the federal reserve system. Notwithstanding the foregoing, Tenant shall pay to Landlord together with Tenant’s execution of this Lease an amount equal to the Monthly Rent payable for the first full calendar month of the Lease term after Tenant’s obligation to pay Monthly Rent shall have commenced hereunder, which amount shall be applied to the Monthly Rent first due and payable hereunder. b. All amounts payable by Tenant to Landlord under this Lease, or otherwise payable in connection with Tenant’s occupancy of the Premises, in addition to the Monthly Rent hereunder and Additional Rent under Paragraph 7, shall constitute rent owed by Tenant to Landlord hereunder. c. Any rent not paid by Tenant to Landlord when due shall bear interest from the date due to the date of payment by Tenant at an annual rate of interest (the “Interest Rate”) equal to the lesser of (i) twelve percent (12%) per annum or (ii) the maximum annual interest rate allowed by law on such due date for business loans (not primarily for personal, family or household purposes) not exempt from the usury law. Notwithstanding the foregoing, Landlord shall give Tenant notice of non-payment of rent when due and five (5) days after delivery of such notice to cure such non-payment once in each calendar year before assessing interest in such calendar year pursuant to this Paragraph 5.c. Failure by Tenant to pay rent when due, including any interest accrued under this subparagraph, shall constitute an Event of Default (as defined in Paragraph 25 below) giving rise to all the remedies afforded Landlord under this Lease and at law for nonpayment of rent. d. No security or guaranty which may now or hereafter be furnished to Landlord for the payment of rent due hereunder or for the performance by Tenant of the other terms of this Lease shall in any way be a bar or defense to any of Landlord’s remedies under this Lease or at law. e. Notwithstanding anything to the contrary in this Lease: (i) in no event may any rent under this Lease be based in whole or in part on the income or profits derived from the Premises, except for percentage rent based on gross (not net) receipts or sales; (ii) if the holder of a Superior Interest (as defined in Paragraph 21 below) succeeds to Landlord’s interest in the Lease (“Successor Landlord”) and the Successor Landlord is advised by its counsel that all or any portion of the rent payable under this Lease is or may be deemed to be “unrelated business income” within the meaning of the Internal Revenue Code or regulations issued thereunder, such Successor Landlord may, at its option, unilaterally amend the calculation of rent so that none of the rent payable to Landlord under the Lease will constitute “unrelated business income,” but the amendment will not increase Tenant’s payment obligations or other liability under this Lease or reduce the Landlord’s obligations under this Lease and (iii) upon the Successor Landlord’s request, Tenant shall execute any document such holder deems necessary to effect the foregoing amendment to this Lease.

  • Rental Period (a) Renter has the right to use the rental vehicle (“Vehicle”) until the return date indicated on the Rental Agreement Summary ("Rental Period"). (b) Owner may agree to extend the Rental Period orally or in writing ("Extended Rental Period") but the overall Rental Period may never be more than 88 days. The Extended Rental Period may be subject to higher charges and/or to additional security deposit which will be disclosed to Renter prior to the extension of the Rental Period. (c) Subject to the following conditions, Renter may choose to return the Vehicle before the end of the agreed Rental Period and thereby terminate this Rental Agreement early (and the Rental Period will be reduced accordingly). (i) If Renter has prepaid the Rental Costs (as defined in section 5) to qualify for a "special offer" rate, Renter may not be entitled to any refund due to early voluntary termination. (ii) If Renter has not prepaid the Rental Costs, early termination can have an impact on the daily rates and the other applicable charges if the originally agreed daily rates and applicable charges were conditioned upon the specifics of the original Rental Period. Owner recommends that Renter verify with Owner what impact an early termination has on the Rental Costs before returning the Vehicle early.

  • Base Rent 3.1 Beginning on the Rent Commencement Date, Tenant shall pay, without prior notice or demand, to Landlord or Landlord’s agent at the management office of the Project, or, at Landlord’s option, at such other place as Landlord may from time to time designate in advance and in writing, (i) by a check for currency which, at the time of payment, is legal tender for private or public debts in the United States of America, or (ii) if so elected by Tenant, by electronic funds transfer to the account of Landlord as provided to Tenant, base rent (“Base Rent”) as set forth in Section 4 of the Summary, payable in equal monthly installments as set forth in Section 4 of the Summary in advance on or before the first day of each and every calendar month during the Lease Term, without any setoff or deduction whatsoever. The Base Rent for the first full month of the Lease Term shall be paid at the time of Tenant’s execution of this Lease. If any Rent payment date (including the Rent Commencement Date) falls on a day of the month other than the first day of such month or if any payment of Rent is for a period which is shorter than one month, the Rent for any fractional month shall accrue on a daily basis for the period from the date such payment is due to the end of such calendar month or to the end of the Lease Term at a rate per day which is equal to 1/365 of the applicable annual Rent. All other payments or adjustments required to be made under the terms of this Lease that require proration on a time basis shall be prorated on the same basis. Base Rent and Additional Rent, as defined below, shall together be denominated “Rent.” Without limiting the foregoing, Tenant’s obligation to pay Rent shall not be discharged or otherwise affected by any law or regulation now or hereafter applicable to the Premises, or any other restriction on Tenant’s use, or (except as expressly provided herein) any casualty or taking, or any failure by Landlord to perform any covenant contained herein, or any other occurrence.

  • Lease Period The lease period of the Finance Lease Agreements are 36 months, which shall commence on December 15, 2023.

  • PRORATION PERIOD The Tenant: (check one)

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