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) but in no event shall the Option Rent be less than Tenant is paying under the Lease on the month immediately preceding the Option Term for Monthly Basic Rental, including all escalations, any Excess, additional rent and other charges. "Market Rent" shall mean the applicable Monthly Basic Rental, including all escalations, any Excess, additional rent and other charges at which tenants, as of the commencement of the Option Term, are leasing non-sublease, non-encumbered, space comparable in size, location and quality to the Premises in renewal transactions for a term comparable to the Option Term, which comparable space is located in office buildings comparable to the Project in the Thousand Oaks/Westlake Village office market area, 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 Rent payable by Tenant during the Option Term ----------- (the "Option Rent") shall be equal to the "Market Rent" (defined below) but in no event shall then prevailing fair market rent for the Premises as of the commencement date of the Option Term, but below the sum of the Base Rent be less than plus Tenant's Share of Operating Expenses payable by Tenant is paying under the Lease on the month immediately preceding prior to the Option Term for Monthly Basic RentalTerm. The then prevailing fair market rent shall be the rental rate, including all escalations, any Excess, additional rent and other charges. "Market Rent" shall mean the applicable Monthly Basic Rental, including all escalations, any Excess, additional rent and other charges at which new, non-renewal tenants, as of the commencement of the Option Term, are leasing non-sublease, non-encumbered, encumbered space comparable in size, location and quality to the Premises in renewal transactions for a term comparable to the Option Termterm, which comparable space is located in office comparable buildings comparable to the Project in the Thousand Oaks/Westlake Village office market San Diego area, taking into consideration the following concessions: (a) rental abatement concessions, if any, being granted such tenants in connection with such comparable space and (b) tenant improvements or allowances provided or to be provided for such comparable space, taking into account, and deducting the value of of, the existing improvements in the Premises to Tenant, as compared to the value of the existing improvements in such comparable spacePremises, 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 based upon the fact that the precise tenant improvements existing in the Premises are specifically suitable to Tenant. In no event shall the Option Rent be less than the monthly rent being paid in the last month of the initial Term.

Option Rent. The rent Basic Rental payable by Tenant during the Option Term ("Option Rent") shall be equal to the "Market Rent" (defined below) ), but in no event shall the Option Rent be less than Tenant is paying under the Lease on the month immediately preceding the Option Term for Monthly Basic Rental, including all escalations, any ExcessDirect Costs, additional rent and other charges. "Market Rent" shall mean the applicable Monthly Basic Rental, including all escalations, any ExcessDirect Costs, additional rent and other charges at which tenants, as of the commencement of the Option Term, are leasing entering into leases for non-sublease, non-encumbered, sublease space which is not encumbered by expansion rights and which is comparable in size, location and quality to the Premises in renewal transactions for a term comparable to the Option Term, Term which comparable space is located in the Project and office buildings comparable to the Project in the Thousand Oaks/Westlake Village office market areaTempe, Arizona (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.

Option Rent. The rent payable by Tenant during the Option ----------- Term ("Option Rent") shall be equal to the "Market Rent" (defined below) ), but in no event shall the Option Rent be less than Tenant is paying under the Lease on the month immediately preceding the Option Term for Monthly Basic Rental, including all escalations, any Excessdirect costs, additional rent and other charges. "Market Rent" shall mean the applicable Monthly Basic Rental, including all escalations, any Excessdirect costs, additional rent and other charges at which tenants, as of the commencement of the Option Term, are leasing non-renewal, non- sublease, non-encumbered, equity space comparable in size, location and quality to the Premises in renewal transactions for a term comparable to the Option Term, which comparable space is located in office buildings comparable to the Project in the Thousand Oaks/Westlake Village office market areaBeverly Hills, California, taking into consideration any free rent, tenant improvement allowances (with Landlord to be credited with 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) and any other monetary concessions. Market Rent shall not take into consideration the value of any data or voice cabling installed in the Premises by or on behalf of Tenant.

Option Rent. The rent payable by Tenant during the Option Term ("“Option Rent"”) shall be equal to the "“Market Rent" ” (defined below) but in no event shall the Option Rent be less than Tenant is paying under the Lease on the month immediately preceding the Option Term for Monthly Basic Rental, including all escalations, any Excess, additional rent and other charges). "“Market Rent" ” shall mean the applicable Monthly Basic Rental, including all escalations, any ExcessOperating Costs, additional rent and other charges at which tenants, as of the commencement of the applicable Option Term, are leasing non-sublease, non-encumbered, space comparable in size, location and quality to the Premises in renewal transactions for a term comparable to the Option Term, Term which comparable space is located in office buildings comparable to the Project Building in the Thousand Oaks/Westlake Village office market areaimmediate geographic vicinity, 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, and further provided that in no event shall the Market Rent be less than the amount payable by Tenant during the last month of its then-existing occupancy, as calculated on a per rentable square foot basis.

Option Rent. The rent annual Base Rent payable by Tenant during the Option Term (the "Option Rent") shall be equal to the greater of: (i) the annual Base Rent payable by Tenant during the last year of the initial Lease Term; or (ii) the Fair Market Rental Rate for Comparable Buildings. As used herein, the "Fair Market Rent" (defined below) but in no event shall the Option Rent be less than Tenant is paying under the Lease on the month immediately preceding the Option Term for Monthly Basic Rental, including all escalations, any Excess, additional rent and other charges. "Market RentRental Rate" shall mean the applicable Monthly Basic Rental, including all escalations, any Excess, additional annual base rent and other charges at which tenants, as of the commencement of the applicable Option Term, are will be leasing non-sublease, non-encumbered, sublease space comparable in size, location (including views) and quality to the Premises in renewal transactions for a comparable term comparable to as the Option Term, which comparable space is located in office buildings comparable to the Project and in Comparable Buildings (the Thousand Oaks/Westlake Village office market area"Market Area"), taking into consideration all free rent and other out-of-pocket concessions generally being granted at such time for such comparable space for the value of the existing improvements in the Premises to TenantOption Term (including, as compared to the value of the existing improvements in without limitation, any tenant improvement allowance provided for such comparable space, with the amount of such value tenant improvement allowance to be based upon provided for the Premises during the Option Term to be determined after taking into account the age, quality and layout of the tenant improvements and in the extent to which Premises as of the same could be utilized by Tenant commencement of the Option Term with consideration given to the fact that the improvements existing in the Premises are specifically suitable to Tenant). 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 1 above.

Option Rent. The rent payable by Tenant during the Option Term ("Option OPTION Rent") shall be equal to the "Market Rent" (defined below) ), but in no event shall the Option Rent be less than Tenant is paying under the Lease on the month immediately preceding the Option Term for Monthly Basic Rental, including all escalations, any ExcessDirect Costs, additional rent and other charges. "Market RentMARKET RENT" shall mean the applicable Monthly Basic Rental, including all escalations, any ExcessDirect Costs, additional rent and other charges at which tenants, as of the commencement of the Option Term, are leasing non-sublease, non-encumbered, space comparable in size, location and quality to the Premises in renewal transactions for a term comparable to the Option Term, Term which comparable space is located in office buildings comparable to the Project in the Thousand Oaks/Westlake Village office market areaSanta Ana, 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 Basic Rental payable by Tenant during the Option Term ("Option Rent") shall be equal to the "Market Rent" (defined below) ), but in no event shall the Option Rent be less than Tenant is paying under the Lease on the month immediately preceding the Option Term for Monthly Basic Rental, including all escalations, any ExcessDirect Costs, additional rent and other charges. "Market Rent" shall mean the applicable Monthly Basic Rental, including all escalations, any ExcessDirect Costs, additional rent and other charges at which tenants, as of the commencement of the Option Term, Term are leasing entering into leases for non-sublease, non-encumbered, sublease space which is not encumbered by expansion rights and which is comparable in size, location and quality to the Premises in renewal transactions for a term comparable to the Option Term, Term which comparable space is located in the Project and office buildings comparable to the Project in market in which the Thousand Oaks/Westlake Village office market areaProject is located (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.

Option Rent. The rent payable by Tenant during the applicable Option ----------- Term ("Option Rent") shall be equal to the "Market Rent" (defined below) ), but in no event shall the Option Rent be less than Tenant is paying under the Lease on the month immediately preceding the applicable Option Term for Monthly monthly Basic Rental, including all escalations, any ExcessDirect Costs, additional rent and other charges. "Market Rent" shall mean the applicable Monthly monthly Basic Rental, including all escalations, any ExcessDirect Costs, additional rent and other charges at which tenants, as of the commencement of the applicable Option Term, are leasing non-non- sublease, non-encumbered, space comparable in size, location and quality to the Premises in non-renewal transactions for a term comparable to the Option Term, Term which comparable space is located in office buildings comparable to the Project in the Thousand Oaks/Calabasas, Agoura Hills, Westlake Village office market areaand Xxxxxxxx Xxxx, Xxxxxxxxxx ("xxx Xxxxxxxxxx Xxxx)", 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.