Common use of Option Rent Clause in Contracts

Option Rent. The Rent payable by Tenant during an Option Term (the "Option Rent") shall be equal to the "Market Rent," as that term is defined in Exhibit F, attached hereto, as such Market Rent is determined pursuant to Exhibit F, attached hereto. The calculation of the "Market Rent" shall be derived from a review of, and comparison to, the "Net Equivalent Lease Rates" of the "Comparable Transactions," as provided for in Exhibit F, and, thereafter, the Market Rent shall be stated as a "Net Equivalent Lease Rate" for the applicable Option Term; provided the Option Rent shall increase by three percent (3%) on each anniversary of the comment of the Option Term.

Appears in 2 contracts

Samples: Partial Lease Termination Agreement and First Amendment to Lease (Zentalis Pharmaceuticals, Inc.), Lease Agreement (Zentalis Pharmaceuticals, Inc.)

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Option Rent. The Rent payable by Tenant during an the Option Term (the "Option Rent") shall be equal to the "Market Rent," as that term is defined in Exhibit F, attached hereto, as such Market Rent is determined pursuant to Exhibit F, attached hereto. The calculation of the "Market Rent" shall be derived from a review of, and comparison to, the "Net Equivalent Lease Rates" of the "Comparable Transactions," as provided for in Exhibit F, and, thereafter, the Market Rent shall be stated as a "Net Equivalent Lease Rate" for the applicable Option Term; provided the Option Rent shall increase by three percent (3%) on each anniversary of the comment of the Option Term.

Appears in 2 contracts

Samples: Office Lease (Yelp Inc), Office Lease (Yelp Inc)

Option Rent. The Rent payable by Tenant during an the Option Term (the "Option Rent") shall be equal to the "Market Rent," as that term is defined in Exhibit F, attached hereto, as such Market Rent is determined pursuant to Exhibit F, attached hereto. The calculation of the "Market Rent" shall be derived from a review of, and comparison to, the "Net Equivalent Lease Rates" of the "Comparable Transactions," as provided for in Exhibit F, and, thereafter, the Market Rent shall be stated as a "Net Equivalent Lease Rate" for the applicable Option Term; provided the Option Rent shall increase by three [* * *] percent (3[* * *]%) on each anniversary of the comment commencement of the Option Term.

Appears in 1 contract

Samples: Lease Agreement (Arcturus Therapeutics Holdings Inc.)

Option Rent. The Base Rent payable by Tenant during an the first (1st) year of the Option Term (the "Option Rent") shall be equal to the "Market Rent," as that term is defined in Exhibit F, attached hereto, as such Market Rent is determined pursuant to Exhibit F, attached hereto. The calculation of the "Market Rent" shall be derived from a review of, and comparison to, the "Net Equivalent Lease Rates" of the "Comparable Transactions," as provided for in Exhibit F, and, thereafter, the Market Rent shall be stated as a "Net Equivalent Lease Rate" for the applicable Option Term; provided the Option . The Rent shall increase payable by three percent (3%) on Tenant during each anniversary of the comment subsequent year of the Option TermTerm shall be increased in accordance with the Market Rent.

Appears in 1 contract

Samples: Lease (Myriad Genetics Inc)

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Option Rent. The Rent payable by Tenant during an the first year of the Option Term (the "Option Rent") shall be equal to the "Market Rent," as that term is defined in Exhibit F, attached hereto, as such Market Rent is determined pursuant to Exhibit F, attached hereto, and Base Rent during the Option Team shall thereafter increase by three (3%) on each anniversary of the commencement of the Option Term. The calculation of the "Market Rent" shall be derived from a review of, and comparison to, the "Net Equivalent Lease Rates" of the "Comparable Transactions," as provided for in Exhibit F, and, thereafter, the Market Rent shall be stated as a "Net Equivalent Lease Rate" for the applicable Option Term; provided the Option Rent . Tenant shall increase by three continue to pay one hundred percent (3100%) on of all Additional Rent payable by Tenant during each anniversary of the comment of the Option Term.

Appears in 1 contract

Samples: Lease (Turning Point Therapeutics, Inc.)

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