Common use of Option Rent Clause in Contracts

Option Rent. The Base Monthly Rent payable by Tenant during the Option Term (the "Option Rent") shall be equal to the greater of (i) the "Fair Market Rental Rate" for the Demised Premises; or (ii) the Base Monthly Rent payable by Tenant during the last year of the Extension Period. As used herein, the "Fair Market Rental Rate" for purposes of determining the Base Monthly Rent payable by Tenant during the Option Term shall mean the monthly base rent at which non-equity tenants, as of the commencement of the Option Tenant will be leasing non-sublease, non-equity, unencumbered space comparable in size, location and quality to the Demised Premises for a comparable term, which comparable space is located in the Building and in other comparable first-class office buildings in the vicinity of the Building, taking into account and adjusting the Base Year to be the calendar year in which the Option Term commences, and taking into consideration all free rent and other out-of-pocket concessions generally being granted at such time for such comparable space for the Option Term (including, without limitation, any tenant improvement allowance provided for such comparable space, with the amount of such tenant improvement allowance to be provided for the Demised Premises during the Option Term to be determined after taking into account the age, quality and layout of the tenant improvements in the Demised Premises as of the commencement of the Option Term. All other terms and conditions of the Lease shall apply throughout the Option Term; however, Tenant shall, in no event, have the option to extend the Lease Term beyond the Option Term described in Section 7.1 above.

Option Rent. The Base Monthly Rent payable by Tenant during the applicable Option Term (the "“Option Rent"”) shall be equal to the greater of “Market Rent,” as that term is defined in, and determined pursuant to, Exhibit C attached hereto; provided, however, that the Option Rent for each Lease Year during the Option Term, shall be equal to the amount set forth on a “Market Rate Schedule,” as that term is defined below. The “Market Rate Schedule” shall be derived from the Market Rent for the Option Term as determined pursuant to Exhibit C, attached hereto, as follows: (i) the "Fair Market Rental Rate" Option Rent for the Demised Premises; or (ii) the Base Monthly Rent payable by Tenant during the last year first Lease Year of the Extension Period. As used herein, the "Fair Market Rental Rate" for purposes of determining the Base Monthly Rent payable by Tenant during the Option Term (“First Year Option Rent”) shall mean be equal to the monthly base rent at which non-equity tenantssum of (a) the Market Rent, as determined pursuant to Exhibit C (which shall be inclusive of an adjustment for any Renewal Allowance to be provided to Tenant, as more particularly detailed in Section 3 of Exhibit C to this Second Amendment, but which the parties acknowledge will otherwise have been calculated on a “NNN” basis), and (b) the amount of Property Taxes and Operating Expenses applicable to the Premises, as reasonably determined by Landlord consistent with the other provisions of the commencement of the Option Tenant will be leasing non-subleaseLease, non-equityas amended, unencumbered space comparable in size, location and quality to the Demised Premises for a comparable term, which comparable space is located in the Building and in other comparable first-class office buildings in the vicinity of the Building, taking into account and adjusting the Base Year to be the calendar year in which the Option Term commences; provided, and taking into consideration all free rent and other out-of-pocket concessions generally being granted at such time for such comparable space for however, during each Option Term, the Base Year shall be reset to the calendar year during which the Option Term commences, and (including, without limitation, any tenant improvement allowance provided ii) the Option Rent for such comparable space, with each subsequent Lease Year shall increase annually over the amount of such tenant improvement allowance First Year Option Rent as determined to be provided consistent with annual increases for the Demised Premises during the Option Term to be determined after taking into account the age, quality and layout of the tenant improvements in the Demised Premises as of the commencement of the Option Term. All other terms and conditions of the Lease shall apply throughout the Option Term; however, Tenant shall, in no event, have the option to extend the Lease Term beyond the Option Term described in Section 7.1 aboveComparable Transactions.

Option Rent. The Base Monthly Rent payable by Tenant during the Option Term (the "“Option Rent"”) shall be equal to the greater of “Market Rent,” as that term is defined in, and determined pursuant to, Exhibit H attached hereto; provided, however, that the Market Rent for each Lease Year during the Option Term, shall be equal to the amount set forth on a “Market Rate Schedule,” as that term is defined below. The “Market Rate Schedule” shall be derived from the Market Rent for the Option Term as determined pursuant to Exhibit H, attached hereto, as follows: (i) the "Fair Market Rental Rate" Rent for the Demised Premises; or (ii) the Base Monthly Rent payable by Tenant during the last year first Lease Year of the Extension Period. As used herein, the "Fair Market Rental Rate" for purposes of determining the Base Monthly Rent payable by Tenant during the Option Term shall mean be equal to the monthly base rent at which non-equity tenantssum of (a) the Market Rent, as determined pursuant to Exhibit H, (b) the amount of the commencement of the Option Tenant will be leasing non-sublease, non-equity, unencumbered space comparable in size, location and quality Direct Expenses applicable to the Demised Premises Premises, as reasonably determined by Landlord, for a comparable term, which comparable space is located in the Building and in other comparable first-class office buildings in the vicinity of the Building, taking into account and adjusting the Base Year to be the calendar year in which the Option Term commences, and taking into consideration all free rent and other out-of-pocket concessions generally being granted at such time (c) an amount equal to the monthly amortization reimbursement payment for such comparable space the “Renewal Allowance” (as defined in Section 3 of Exhibit H to this Lease) to be paid by Landlord in connection with Tenant’s lease of the Premises for the Option Term Term, with such Renewal Allowance being amortized at a reasonable rate of return to Landlord based on the rates of return then being received by the landlords of the “Comparable Buildings” as that term is set forth in Section 4 of Exhibit H attached hereto, in connection with improvement allowances then being granted by such landlords, and (includingii) the Market Rent for each subsequent Lease Year shall be equal to one hundred three percent (103%) of the prior Lease Year’s Market Rent. The calculation of the Market Rent shall be derived from a review of, without limitationand comparison to, any tenant improvement allowance the “Net Equivalent Lease Rates” of the “Comparable Transactions,” as provided for such comparable space, with the amount of such tenant improvement allowance to be provided for the Demised Premises during the Option Term to be determined after taking into account the age, quality and layout of the tenant improvements in the Demised Premises as of the commencement of the Option Term. All other terms and conditions of the Lease shall apply throughout the Option Term; however, Tenant shall, in no event, have the option to extend the Lease Term beyond the Option Term described in Section 7.1 above.Exhibit H.

Option Rent. The Base Monthly Rent payable by Tenant during the Option Term (the "“Option Rent"”) shall be equal to the greater of “Market Rent,” as that term is defined in, and determined pursuant to, Exhibit H attached hereto; provided, however, that the Market Rent for each Lease Year during the Option Term, shall be equal to the amount set forth on a “Market Rate Schedule,” as that term is defined below. The “Market Rate Schedule” shall be derived from the Market Rent for the Option Term as determined pursuant to Exhibit H, attached hereto, as follows: (i) the "Fair Market Rental Rate" Rent for the Demised Premises; or (ii) the Base Monthly Rent payable by Tenant during the last year first Lease Year of the Extension Period. As used herein, the "Fair Market Rental Rate" for purposes of determining the Base Monthly Rent payable by Tenant during the Option Term shall mean be equal to the monthly base rent at which non-equity tenantssum of (a) the Market Rent, as determined pursuant to Exhibit H, (b) the amount of the commencement of the Option Tenant will be leasing non-sublease, non-equity, unencumbered space comparable in size, location and quality Direct Expenses applicable to the Demised Premises Premises, as reasonably determined by Landlord, for a comparable term, which comparable space is located in the Building and in other comparable first-class office buildings in the vicinity of the Building, taking into account and adjusting the Base Year to be the calendar year in which the Option Term commences, and taking into consideration all free rent and other out-of-pocket concessions generally being granted at such time (c) an amount equal to the monthly amortization reimbursement payment for such comparable space the “Renewal Allowance” (as defined in Section 3 of Exhibit H to this Lease) to be paid by Landlord in connection with Tenant’s lease of the Premises for the Option Term (including, without limitation, any tenant improvement allowance provided for such comparable spaceTerm, with such Renewal Allowance being amortized at a reasonable rate of return to Landlord based on the amount rates of such tenant improvement allowance to be provided for return then being received by the Demised Premises during the Option Term to be determined after taking into account the age, quality and layout landlords of the tenant improvements “Comparable Buildings” as that term is set forth in Section 4 of Exhibit H attached hereto, in connection with improvement allowances then be granted by such landlords, and (ii) the Demised Premises as Market Rent for each subsequent Lease Year shall be equal to the prior Lease Year’s Market Rent plus an amount equal to $1.00 per rentable square foot of the commencement of the Option Term. All other terms and conditions of the Lease shall apply throughout the Option Term; however, Tenant shall, in no event, have the option to extend the Lease Term beyond the Option Term described in Section 7.1 abovePremises.

Option Rent. The Base Monthly Rent payable by Tenant during the Option Term (the "Option Rent") shall be equal to the greater of "Market Rent," as that term is defined in, and determined pursuant to, Exhibit H attached hereto; provided, however, that the Market Rent for each Lease Year during the Option Term, shall be equal to the amount set forth on a "Market Rate Schedule," as that term is defined below. The "Market Rate Schedule" shall be derived from the Market Rent for the Option Term as determined pursuant to Exhibit H, attached hereto, as follows: (i) the "Fair Market Rental Rate" Rent for the Demised Premises; or (ii) the Base Monthly Rent payable by Tenant during the last year first Lease Year of the Extension Period. As used herein, the "Fair Market Rental Rate" for purposes of determining the Base Monthly Rent payable by Tenant during the Option Term shall mean be equal to the monthly base rent at which non-equity tenantssum of (a) the Market Rent, as determined pursuant to Exhibit H, (b) the amount of the commencement of the Option Tenant will be leasing non-sublease, non-equity, unencumbered space comparable in size, location and quality Direct Expenses applicable to the Demised Premises Premises, as reasonably determined by Landlord, for a comparable term, which comparable space is located in the Building and in other comparable first-class office buildings in the vicinity of the Building, taking into account and adjusting the Base Year to be the calendar year in which the Option Term commences, and taking into consideration all free rent and other out-of-pocket concessions generally being granted at such time (c) an amount equal to the monthly amortization reimbursement payment for such comparable space the "Renewal Allowance" (as defined in Section 3 of Exhibit H to this Lease) to be paid by Landlord in connection with Tenant's lease of the Premises for the Option Term Term, with such Renewal Allowance being amortized at eight percent (including8%) per annum, without limitationand (ii) the Market Rent for each subsequent Lease Year shall be equal to one hundred three percent (103%) of the prior Lease Year's Market Rent. The calculation of the Market Rent shall be derived from a review of, any tenant improvement allowance and comparison to, the "Net Equivalent Lease Rates" of the "Comparable Transactions," as provided for such comparable spacein Exhibit H. For clarity, and in connection with the amount determination of Market Rent, the Base Year shall be reestablished for any Option Term as the first full calendar year of such tenant improvement allowance to be provided for the Demised Premises during the Option Term to be determined after taking into account the age, quality and layout of the tenant improvements in the Demised Premises as of the commencement of the Option Term. All other terms and conditions of the Lease shall apply throughout the Option Term; however, Tenant shall, in no event, have the option to extend the Lease Term beyond the Option Term described in Section 7.1 above.