Option Period Rent. (1) 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 Sunnyvale, but not taking into consideration the value of any improvements paid for by Tenant, and shall be determined as follows. The parties 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 the parties so agree within said period, they shall immediately execute an amendment to this Lease stating the Base Rent for the Option Period based upon the then fair market rental value of the Premises. If the parties are unable to so agree within said period then the then fair market rental value of the Premises shall be determined in accordance with Paragraph 45(b )(2).
Option Period Rent. 34.1 For and during the first five (5) years of option period one, Tenant shall pay Landlord a minimum rent for the premises in the total amount of $1,800,000 in lawful money of the United States, which Tenant agrees to pay to Landlord without deduction, offset, notice or demand, at such place(s) as Landlord may designate from time to time in installments of $30,000 per month payable in advance by the first day of each and every month commencing February 1, 2015.
Option Period Rent. If Tenant shall extend the Term by ------------------ exercising its options pursuant to Section 2.3 above, the Annual Fixed Rent Rate during each five year Extended Term shall be ninety-five percent (95%) of Market Rent, as defined below, commencing as of the first day of the option period in question, but in no event shall the Annual Fixed Rent Rate for any option period be less than the Annual Fixed Rent in effect for the last year of the original Term.
Option Period Rent. The amount of Annual Rent to be paid by Tenant to Landlord during each lease Year of the First Option Term and each year of the subsequent option period shall be determined on an annual basis, commencing on the First Lease Year of the Option Term as follows: The Annual Rent for the first Lease Year of the Option Term shall be Ninety Thousand Dollars ($90,000.00) plus a sum which shall be determined by multiplying the current rent set forth above by a fraction, the numerator of which shall be the Price Index (as hereinafter defined in next paragraph) for the first month of such Lease Year and the denominator of which shall be the Base Price Index,; provided, however, in no event shall the Annual Rent be less than the Annual Rent for the immediately preceding Lease Year. The Annual Rent for the second Lease Year of the Option Term shall be determined by multiplying the Annual Rent for the preceding Lease Year by a fraction, the numerator of which shall be the Price Index for the first month of Lease Year and the denominator of which shall be the Base Price Index.; provided, however, in no event shall the Annual Rent be less than the Annual Rent for the immediately preceding Lease Year. The foregoing computation can be illustrated by the following example: On the first day of the First Option Term the Annual Rent for the first Lease Year of the Option Terms, as adjusted shall be determined as follows: $90,000.00 X CPI for December 31, 1997 = Rent for first year CPI for December 31, 1996 of First Option Term On the first anniversary of the commencement of the First Option Term the Annual Rent for the second Lease Year of the Option Terms, as adjusted, shall be determined as follows: Rent for first Lease X CPI for , 1998 = Rent for Year of Option CPI for , 1997 second Lease Year of Option (from above)
Option Period Rent. During the Option Period(s), the annual Base Rent shall be “Fair Market Rental Value” (“FMRV”). FMRV shall be reasonably determined by Landlord and Tenant to be the annual rental charge as of the termination date of the Term for new leases then being negotiated or executed for comparable space in The Woodlands, Texas for terms commencing on or about the date of termination and ending as of the expiration of what would have been the Term (including Extended Terms). In determining FMRV, the following shall be taken into consideration: the size, location and condition of the applicable comparable premises, lease term, services provided by the landlord, rental concessions and other factors. Landlord and Tenant shall in good faith attempt to agree in writing on FMRV within 30 days after Landlord’s receipt of Tenant’s notice of extension. If Landlord and Tenant cannot so agree, FMRV shall be determined by impartial appraisers, one each to be chosen by Landlord and Tenant, and, if necessary, a third to be selected as provided below. All appraisers shall be MAI certified, familiar with commercial leasing and leases and rents in the area surrounding the Building, and shall have at least 5 years experience in making real estate appraisals. Landlord and Tenant shall notify each other of its selected appraiser within 5 days following the expiration of such 10 day period. The initial appraisers shall render their written appraisals of FMRV within 30 days after their appointment. If such appraisals are less than 5% apart, then FMRV shall be deemed to be the average of the 2 appraisals. Otherwise, the initial appraisers shall promptly select a third appraiser who shall submit its appraisal to Landlord and Tenant within 21 days after its appointment. The appraisal falling between the other two appraisals (that is, the arithmetic median of the 3 appraisals) shall be binding upon Landlord and Tenant. The cost of each of the initial appraisers shall be paid by the party selecting such appraiser and the cost of the third appraiser shall be shared equally between Landlord and Tenant.
Option Period Rent. If Lessee exercises the Option pursuant to this PARAGRAPH 39, then Lessee shall pay to Lessor during the Option Period as monthly Base Rent, without deduction, setoff, prior notice, or demand, an amount equal to the square footage of the premises leased during the Option Period multiplied by 95.00% of the monthly "Market Rental" (as hereinafter defined) determined as of the time the Option
Option Period Rent. Monthly Rent for each month of the Option ------------------ Period shall be $6,264.50/month.
Option Period Rent. The rental for each option period shall be 95% of the CPI increase to be determined as follows:
Option Period Rent. 5 3.5. Conditions Precedent......................................... 5 4. RENT................................................................. 5 4.1. Payment...................................................... 5 4.2. Monthly Rent................................................. 6 4.3. Additional Rent; Additional Obligations...................... 6
