Renewal Rent. (a) During the Renewal Lease Term, Lessee shall pay to Lessor on each Payment Date, in the manner and in the funds of the type specified in Section 3.3, Renewal Rent in arrears.
Renewal Rent. Basic Annual Rental during the Renewal Terms shall be at NINETY-FIVE PERCENT (95%) of the prevailing rate (including also annual increases, other additional charges, and market concessions) as reasonably determined by Landlord and Tenant for other similar space in the Germantown and Gaithersburg sub-markets (the “Renewal Rental”). Notwithstanding the foregoing, the Renewal Rental payable by Tenant for the first lease year of the first Renewal Term shall not be less than the Basic Annual Rental payable by Tenant during the seventh (7th) Lease Year of the Initial Term. The Renewal Rental payable by Tenant for the first Lease Year of the second Renewal Term shall not be less than the Basic Annual Rental payable by Tenant for the third (3rd) Lease Year of the first Renewal Term. If the rent floor described above is applicable to the First Renewal Term, Landlord shall provide to Tenant a refurbishment allowance equal to Seven Dollars ($7.00) per square foot of rentable space in the Demised Premises. No refurbishment allowance shall be provided by Landlord to Tenant if the rent floor is applicable to the second Renewal Term. Furthermore, the Basic Annual Rental payable by Tenant during the first Lease Year of each Renewal Term shall be subject to escalation, commencing with the second and each succeeding Lease Year during the applicable Renewal Term, at the prevailing rate in the above-specified sub-markets, which rate shall not be less than two percent (2%) per year. Landlord shall notify Tenant as to the Renewal Rental within ten (10) business days after request by Tenant for such information, which request shall be made by Tenant not earlier than three hundred (300) days before the end of the then current Term. Basic Annual Rental shall be payable during the Renewal Terms in the manner as prescribed in this Lease. In addition to the Renewal Rental, Tenant shall pay to Landlord, at the times indicated herein, the Additional Rent and other sums required to be paid by Tenant pursuant to the terms of this Lease.
Renewal Rent. Lessee shall promptly pay (or cause to be paid) to Lessor Renewal Rent on each Rent Payment Date during the Renewal Term in the amount determined pursuant to Section 22 hereof).
Renewal Rent. Lessee shall pay to Lessor on each Rent Payment Date during a Renewal Term, in the manner and place set forth in Section 5.2, rent for the current calendar month calculated in accordance with Schedule 12.2 (“Renewal Rent”).
Renewal Rent. (A) For the first year of each Renewal Term, an annual amount equal to the Rent for the Renewal Leased Properties for the applicable Renewal Term which shall be determined in accordance with Section 1.4(b) or Section 41.14, as applicable.
Renewal Rent. On each Payment Date during any Renewal Term in effect, Lessee shall pay to Agent, for the benefit of the Lessors, Renewal Rent consisting of the amount of Fixed Rent set forth opposite the applicable Payment Date on Schedule II hereto and Variable Rent accrued on the Lease Balance during the Rent Period ended on such Payment Date.
Renewal Rent. The Basic Rent payable hereunder for the Premises during a Renewal Term (the “First Renewal Rent” or “Second Renewal Rent,” as applicable) shall be equal to ninety-five percent (95%) of the Fair Market Rental Rate (as defined and determined pursuant to Article 33 below) as of the applicable commencement date for such Renewal Term (the “Renewal Term Commencement Date”), provided, however, that in no event shall the Basic Rent payable during a Renewal Term be less than the Base Rent payable hereunder during the twelve month period immediately preceding the commencement of such Renewal Period.
Renewal Rent. The Rent shall be subject to adjustment: (i) at the beginning of the fifth anniversary of the Commencement Date; and (ii) at the beginning of any renewal term (the "Adjustment Date"), as follows: The base for computing the adjustment shall be the Consumer Price Index for All Urban Consumers (1982-84 = 100) U.S. City Average, All Items, published by the United States Department of Labor, Bureau of Labor Statistics (the "Index"), which was last published on the date of the commencement of the primary term of this Lease (the "Beginning Index"). If the Index last published on the Adjustment Date (the "Extension Index") has increased over the Beginning Index, the monthly Rent for the renewal term and until the next rental Adjustment Date shall be set by multiplying the Basic Rent by a fraction, the numerator of which is the Extension Index and the denominator of which is the Beginning Index. PROVIDED, HOWEVER, in no event shall the rent be decreased for any renewal term. In the event the Index shall hereafter be converted to a different standard reference base or otherwise revised, the determination of any increase in the Index shall be made with the use of such conversion factor, formula or table for converting the Index as may be published by the Bureau of Labor Statistics. In the event the Bureau of Labor Statistics ceases publication of the Index at any time during the term of this Lease but substitutes and commences publication of an index designed and designated to serve the same basic purposes as the Index, Lessor and Lessee shall use such substituted index as the Index hereunder. The place for the giving of notices, consents, requests, demands and other communications under Article 12:
Renewal Rent. All terms and conditions of this Lease shall be applicable during the Renewal Term, except that the Base Year shall be the first calendar year of the Renewal Term and the amount of Rent charged for the Renewal Term shall be the then “Prevailing Market Rent”, which shall be the rent for office space in Comparable Buildings, and parking charges and other charges shall be adjusted to reflect prevailing market conditions. If within sixty (60) days following delivery of Tenant’s notice, Landlord and Tenant have not mutually agreed on the Prevailing Market Rent for the Renewal Term in question, then, within ten (10) days after the expiration of such sixty (60)-day period, each party shall give written notice to the other setting forth the name and address of a Broker (as hereinafter defined) selected by such party who has agreed to act in such capacity, to determine the Prevailing Market Rent. If either party shall fail to select a Broker as aforesaid, the Prevailing Market Rent shall be determined by the Broker selected by the other party. Each Broker shall thereupon independently make his determination of the Prevailing Market Rent within twenty (20) days after the appointment of the second Broker. If the two Brokers’ determinations are not the same, but the higher of such two values is more than one hundred five percent (105%) of the lower of them, then the two Brokers shall jointly appoint a third Broker within ten (10) days after the second of the two determinations described above has been rendered. The third Broker shall choose the determination of one of the two other Brokers to be the Prevailing Market Rent within twenty (20) days after his appointment. Among the factors to be considered by the parties (and their brokers, if applicable) during such negotiations are the general office rental market in the Market Area and the rental rates and concession packages then being quoted by Landlord to comparable tenants for comparable space in the Building, and concessions granted to similar tenants for similar office space in Comparable Buildings. Within thirty (30) days after the Prevailing Market Rent is determined as aforesaid, the parties shall execute an amendment to this Lease setting forth the new Rent to be paid for the Renewal Term. For the purposes of this Addendum, “
Renewal Rent. For each renewal option exercised under §3.2 above, the Annual Rent, and the corresponding Monthly Rent, shall be adjusted to the then existing fair market value by mutual agreement of the parties based upon the opinion of a licensed real estate broker who does business involving commercial property in Homer, Alaska, which agreements shall be amendments or addenda to this Lease signed by the parties. If the parties are unable to agree upon a rent adjustment for any such Additional term utilizing the opinion of a real estate broker, then the parties will agree upon a qualified appraiser who will determine fair market value for the Annual Rent and the corresponding Monthly Rent. In that event, the appraiser's determination shall be documented in an amendment or addendum to this Lease that is executed by the parties. The parties agree that if an appraisal is obtained, then Lessor and Sublessee shall each pay 50% of the cost of the appraisal
