Option Term Rent Clause Samples

Option Term Rent. The Option Term Base Rent for the Premises for the Option Term shall mean the greater of (a) the Base Annual Rent payable by Tenant under this Lease for the twelve (12) month period immediately prior to the commencement of the Option Term (the Preceding Base Rent ); or (b) the Market Base Rent, which as used herein shall mean the amount of Base Annual Rent, including any annual or other periodic escalations, that Landlord, under commercially reasonable circumstances, could obtain from a third party desiring to lease the Premises under a lease containing terms and conditions substantially identical to those of this Lease, including without limitation additional rent payable by Tenant with respect to Building Costs, Project Costs, Taxes and Additional Taxes pursuant to Article 3 of the Lease, for the Option Term under market leasing conditions then existing, and taking into account the following: the length of term; the size, location, configuration and floor levels of the Premises; the type and quality of improvements in or amenities available to the Premises, Building and Project; age and location 39

Option Term Rent. Tenant shall pay the following rent for the Leased Premises: Landlord and Tenant will attempt to agree upon a Fair Market Rental Value of the Leased Premises satisfactory to both parties within thirty (30) days of Tenant’s exercise of its option. If no agreement can be reached by the parties during that period, then the Base Monthly Rental for the Option Term shall be determined by the Fair Market Rental Value of the Leased Premises as determined by comparison to premises of similar size located in or near the City of Fort ▇▇▇▇▇▇▇, Colorado, having comparable development, use and density capability and such other characteristics as may be deemed relevant by a subject appraiser whose selection is outlined herein. Landlord shall select an independent commercial real estate broker with at least ten (10) years’ experience in the City of Fort ▇▇▇▇▇▇▇, Colorado (a “Qualified Broker”). The Qualified Broker selected by the Landlord shall be referred to as the “Landlord’s Broker”. Within thirty (30) days of being selected by the Landlord, the Landlord’s Broker shall determine the Fair Market Rental Value of the Leased Premises in accordance with the appraisal standards set forth above and shall immediately give the Landlord and the Tenant written notification of his determination. If the Tenant agrees with the Landlord’s Broker’s determination of the Fair Market Rental Value, the new Base Monthly Rental shall become effective beginning with the first month of the Option Term. If the Tenant does not agree with the Landlord’s Broker’s determination of Fair Market Rental Value, the Tenant shall have the right to select its own Qualified Broker to determine the Fair Market Rental Value. If the Tenant does elect to appoint a Qualified Broker (the “Tenant’s Broker”), the Tenant shall select the Tenant’s Broker within thirty (30) business days after receiving the Landlord’s Broker’s determination of the Fair Market Rental Value. The Tenant’s Broker shall make his own determination of the Fair Market Rental Value in accordance with the provisions set forth above, within thirty (30) business days of being selected by the Tenant and shall immediately give the Landlord and the Tenant written notice of his determination. If the Fair Market Rental Values as determined by the Landlord’s Broker and the Tenant’s Broker, respectively, differ by an amount which is equal to or less than 5% of the Fair Market Rental Value determined by the Landlord’s Broker, then the arithmetic mean o...

Option Term Rent. (a) The Base Rent for the first (1st) year of the Option Term, (" FMV Adjustment Date"), shall be subject to adjustment as set forth in Paragraph 52 of this Addendum, payable in advance on the first day of each month thereafter. (b) The Base Rent for year two (2) of the Option Term shall not be adjusted but shall be the same as Base Rent for year one (1) of the Option Term. (c) Base Rent for the third, fourth and fifth year of the Option Term shall be adjusted as set forth in Paragraphs 50. 1 (b) through 50. 1 (c) of this Addendum at the commencement of the third, fourth and fifth year of the Option Term, ("COL Adjustment Date"). (d) At the commencement of the sixth year of the Option Term, ("FMV Adjustment Date"), the then current monthly Base Rent for the Premises shall be adjusted to the fair market rental value for the Premises in the manner provided in Paragraph 52 below, payable in advance on the first day of each month thereafter. (e) The Base Rent for year seven (7) of the Option Term shall not be adjusted but shall be the same as Base Rent for year six (6) of the Option Term. (f) At the commencement of the eighth, ninth, and tenth year of the term, ("COL Adjustment Date") the then current monthly Base Rent for the Premises shall be subject to a cost of living adjustment in the manner set forth in Paragraphs 50. 1 (b) through 50. 1 (c) above.

Option Term Rent. In the event the Tenant exercises the option to extend this Lease in the manner provided under Paragraph 4, the rental rate shall be adjusted for the extended term by taking the total rents of the premises owned by this Landlord less Tenant's current rent, divided by the total square footage of the premises included in the above base rents which shall equal an "average rent per square foot", then multiply the "average rent per square foot" times the Tenant's square feet as described in Paragraph 1A directly or indirectly, which will equal the new annual rent for the duration of the extended term. Such amount shall be payable in advance in equal monthly installments commencing on April 30, 1998 and continuing on the first day of each month thereafter for the duration of the extended term.

Option Term Rent. In the event that Tenant exercises its right to extend the Term of this Lease, for each Option Term, Base Rent shall be the greater of (i) 95% of the Fair Market Rental Value of the Premises calculated in accordance with Exhibit “B-1”, and (ii) the Base Rent in effect during the Lease Year immediately preceding the first Lease Year of the applicable Option Term. Base Rent shall continue to increase by one and three-fourths percent (1.75%) annually over the Base Rent in effect during the first Lease Year of the applicable Option Term, commencing on the first day of the second Lease Year of the applicable Option Term, and thereafter annually during such Option Term.

Option Term Rent. The rent for the Lease Extension Option Term effective from November 1, 2011 through June 30, 2015 shall be Three Hundred Fifteen Thousand Six Hundred Dollars ($315,600.00) annually, payable Twenty Six Thousand Three Hundred Dollars ($26,300.00) monthly, fully net.

Option Term Rent. Tenant shall pay the Base Rent as determined above in twelve (12) equal monthly installments.

Option Term Rent. The Annual Rent during each Option Term (the “Option Term Annual Rent”) shall be determined as follows: (a) At the commencement of each Option Term the Option Term Annual Rent shall be an amount equal to the greater of (i) ninety-five percent (95 %) of the then Fair Market Rental Value of the Demised Premises as then configured (the “Fair Market Rental Value”), as stated on an annual basis and determined pursuant to Section 4.3.3, below and (ii) the Annual Rent for the Demised Premises which was in effect immediately prior to the commencement of the Option Term in question. Tenant shall also continue to pay during any Option Term all Operating Expenses and Additional Rent as required in this Lease. (b) On the first day of the twenty-fifth (25th) and the fifty-fifth (55th) month of any Option Term, the Annual Rent shall increase to an amount equal to the product of (i) the then applicable Annual Rent for the Demised Premises and (ii) 1.075.

Option Term Rent. If the option is exercised, rent shall be increased as determined by use of the U.S. Bureau of Labor Statistics, Consumer Price Index for All Urban Consumers (CPI-U), U.S. City Average, or a similar type index if the CPI-U is not maintained. The increase shall be based on the index difference between the base year (December 1, 2001) and the index as of the last year of the lease term (November 30, 2006). For example, if the base year index is 180 and at the end of the least term the index is 183, the increase in the index is 3.0. Rent for the option term shall be calculated by multiplying the base year rent ($4,250.00) by 103% or $4,377.50 per month. In no event shall the rent decrease below $4,700.00 per month should the index difference evidence a decrease.