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).
(2) Within seven (7) days after the expiration of the thirty (30) day period set forth in Paragraph 45(b)”l”, each party, at its cost and by giving notice to the other party, shall appoint an independent 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 for the Option Period. If a party does not appoint an appraiser within ten (10) days after the other party has given notice of the name of its appraiser, the single appraiser appointed shall be the sole appraiser and shall determine the then fair market rental value of the Premises. If the two (2) appraisers are appointed by the parties as stated in this paragraph, they shall meet promptly and attempt to determine the then fair market rental value of the Premises. If they are unable to agree within thirty (30) days after the second appraiser has been appointed, they shall attempt to elect a third appraiser meeting the qualifications stated in this paragraph within ten (10) days after the last day the two (2) appraisers are given to determine the then fair market rental value of the Premises. If they are unable to agree on the third appraiser, either of the parties to this Lease, by giving ten (10) days’ notice to the other party, can apply to the Santa Xxxxx County Superior Court, for the selection of a third appraiser who meets the qualifications stated in this paragr...
Option Period Rent. The Monthly Rent for each Option Period shall be determined as follows:
40.2.1 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 in question based upon the then fair market rental value of the Premises as defined in Paragraph 40.2.
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. The rental for each option period shall be 95% of the CPI increase to be determined as follows:
1) The Consumer Price Index hereinafter referred to as the CPI, shall be the Consumer Price Index - Average for All Urban Consumers, All Items, as published by the United States Bureau of Labor Statistics. In the event of a change in the method of determining the CPI, an adjustment shall be made in the revised index to produce results equivalent, as nearly possible, to those which would have been obtained had the CPI not been changed.
Option Period Rent. The rent during any option period shall be the base rent for the prior lease year times the increase in the rate of inflation based on the Consumer Price Index (CPI) for each prior year since the last increase.
Option Period Rent. Monthly Rent for each month of the Option ------------------ Period shall be $6,264.50/month.
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
Option Period Rent. Xxxxxx agrees to pay to Landlord, as Monthly Rent during the Option Period(s), the amounts set forth below: MONTHLY RENT OPTION PERIOD PER SQUARE FOOT TOTAL MONTHLY RENT TOTAL ANNUAL RENT Months 73 - 90 $0.341 $12,817.04 $153,804.45 Months 91 - 120 $0.368 $13,842.40 $166,108.81 Months 121 - 132 $0.397 $14,949.79 $179,397.51
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)
