Common use of Option Rent Clause in Contracts

Option Rent. The rent payable by Tenant during the Option Term (“Option Rent”) shall be equal to the Market Rent (defined below). “Market Rent” shall mean the applicable Monthly Basic Rental, including all escalations, Direct Costs, Utilities Costs, additional rent and other charges at which tenants, as of the commencement of the Option Term, are leasing non-renewal, non-sublease, non-equity space comparable in size, location and quality to the Premises (or Expansion Space, as applicable) for a term comparable to the Option Term (or the term of Tenant’s lease of the Expansion Space, as applicable), which comparable space is located in office buildings comparable to the Project in Thousand Oaks, California, taking into consideration the value of the existing improvements in the Premises to Tenant, as compared to the value of the existing improvements in such comparable space, with such value to be based upon the age, quality and layout of the improvements and the extent to which the same could be utilized by Tenant with consideration given to the fact that the improvements existing in the Premises are specifically suitable to Tenant.

Option Rent. The rent payable by Tenant during the Option Term (“Option Rent”) shall be equal to 100% of the “Market Rent Rent” (defined below). “Market Rent” shall mean the applicable Monthly Basic Rental, including and all escalations, Direct Costs, Utilities Costs, additional rent and other charges at which tenants, as of the commencement of the Option Term, are leasing entering into leases for non-renewal, non-sublease, non-equity sublease office space which is not encumbered by expansion rights and which is comparable in size, location and quality to the Premises (or Expansion Space, as applicable) in renewal transactions for a term comparable to the Option Term (or the term of Tenant’s lease of the Expansion Space, as applicable)Term, which comparable space is located in office buildings comparable to the Project in Thousand OaksSan Diego, California, taking into consideration free rent, escalations, tenant improvements and brokerage commissions, and also taking into consideration the value of the existing improvements in the Premises to Tenant, as compared to the value of the existing improvements in such comparable space, with such value to be based upon the age, quality and layout of the improvements and the extent to which the same could be utilized by Tenant with consideration given to the fact that the improvements existing in the Premises are specifically suitable to Tenant.

Option Rent. The rent payable by Tenant during the Option Term (“Option Rent”) shall be equal to the “Market Rent Rent” (defined below). “Market Rent” shall mean the applicable Monthly Basic RentalBase Rent, including and all escalations, Direct CostsExpenses, Utilities CostsAdditional Rent, additional rent and other charges and concessions at which tenants, as of the commencement of the Option Term, are leasing entering into leases for non-renewal, non-sublease, non-equity sublease space which is not encumbered by expansion rights and which is comparable in size, location location, quality and quality amenities to the Premises (or Expansion Spacein renewal transactions, as applicable) for a term comparable to the Option Term (or the term of Tenant’s lease of the Expansion Space, as applicable)Term, which comparable space is located in high-quality office buildings comparable to the Project in Thousand Oaksthe Sorrento Valley/Sorrento Mesa submarket of San Diego, California, taking into consideration the value of the existing improvements in the Premises to Tenant, as compared to the value of the existing improvements in such comparable space, with such value to be based upon the age, quality and layout of the improvements and the extent to which the same could be utilized by Tenant with consideration given to the fact that the any improvements existing in the Premises that are specifically suitable to Tenant.

Option Rent. The rent Basic Rental payable by Tenant during the Option Term (“Option Rent”) shall be equal to the “Market Rent Rent” (defined below). “Market Rent” shall mean the applicable Monthly Basic Rental, including all escalations, Direct Costs, Utilities Costs, additional rent and other charges at which tenants, as of the commencement time of the Landlord’s “Option TermRent Notice” (as defined below), are leasing entering into leases for non-renewal, non-sublease, non-equity sublease space which is not encumbered by expansion rights and which is comparable in size, location and quality to the Premises (or Expansion Space, as applicable) in renewal transactions for a term comparable to the Option Term (or the term of Tenant’s lease of the Expansion Space, as applicable), which comparable space is located in the Project and office buildings comparable to the Project in Thousand OaksSan Diego, CaliforniaCalifornia (as reasonably determined by Landlord), taking into consideration the value of the existing improvements in the Premises to Tenant, as compared to the value of the existing improvements in such comparable space, with such value to be based upon the age, quality and layout of the improvements and the extent to which the same could be utilized by Tenant with consideration given to the fact that the improvements existing in the Premises are specifically suitable to Tenant.