Common use of Renewal Rent Clause in Contracts

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. 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 market similar to the Demised Premises tendered by Landlord to Tenant prior to Tenant’s Work (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, nor more than one hundred five percent (105%) of the Basic Annual Rental payable by Tenant during the 10th 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 during the third (3rd) Lease Year of the first Renewal Term. If , nor more than one hundred five percent (105%) of the rent floor described above is applicable to Basic Annual Rental payable by Tenant during the First Renewal Term, Landlord shall provide to Tenant a refurbishment allowance equal to Seven Dollars ($7.00) per square foot 5th Lease Year 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 first 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 a fixed escalation of not less than three percent (3%) per year as of the commencement of 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 two hundred seventy (300270) 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. Basic Annual Rental The rent during the Renewal Terms Term shall be at NINETY-FIVE PERCENT a sum equal to ninety (9590%) percent of the prevailing rate Fair Market Rental for the Demised Premises subject to annual cumulative and compounded increases based upon CPI as set forth in Section 4.01 herein. Within thirty (including also annual increases30) days of the date upon which Tenant shall exercise its renewal option, other additional chargesLandlord shall give notice (“Valuation Notice”) to Tenant setting forth an amount which Landlord determines to be the Fair Market Rental for the Renewal Term. If Tenant shall dispute Landlord’s determination of Fair Market Rental, and market concessionsTenant shall give notice to Landlord of such dispute within fifteen (15) as reasonably determined by Landlord and Tenant for other similar space in days of Tenant’s receipt of the Germantown and Gaithersburg sub-markets (the “Renewal Rental”)Valuation Notice. Notwithstanding the foregoingabove, with respect to the Renewal Term, in the event the parties fail to reach an agreement as to the Fair Market Rental of the Demised Premises to be paid by the Tenant during the Renewal Term within sixty (60) days after the Tenant delivers written notice to the Landlord of Tenant’s objection to the Valuation Notice, such amount shall be determined by appraisers appointed and who shall qualify and act as provided in subsections (i) - (iv) hereof. Prior to the determination of the arbitrators, Tenant shall pay as the Basic Rent and Additional Rent Tenant is obligated to pay under this Lease, the Renewal Rental amount set forth in the Valuation Notice and in the event the arbitrators determine that the Basic Rent and Additional Rent payable by pursuant to this Section is greater than that set forth in the Valuation Notice, then Tenant shall pay promptly to Landlord the amount of its underpayment of Basic Rent and Additional Rent for the period commencing on the first lease year day of the Renewal Term, or if the arbitrators determine that the Basic Rent and Additional Rent payable pursuant to this Section is less than that set forth in the Valuation Notice, then Tenant shall be entitled to a credit in the amount of its overpayment for the period commencing on the first day of the Renewal Term with interest on such overpayment at the prime rate as such rate is published by the Wall Street Journal, which credit shall not be applied to the next succeeding payment or payments of Basic Rent. In no event shall the Basic Rent payable during the first month of the Renewal Term be less than the Basic Annual Rental Rent payable by Tenant during in the seventh (7th) Lease Year last month of the Initial Term. The Renewal Rental payable term as increased 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 LeaseCPI compounded annually.

Renewal Rent. Basic Annual Rental The Base Rent payable during the Renewal Terms Term shall be at NINETYninety-FIVE PERCENT five percent (95%) of the prevailing Fair Market Rental Rate as of the commencement of the Renewal Term (subject to customary, market 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”escalations). Notwithstanding Provided that Tenant has delivered the foregoingExtension Notice as required under Section 3.2(b), no later than eighteen (18) months prior to 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 expiration of the Initial Term. The Renewal , Landlord shall deliver to Tenant written notice (the “Rental payable by Tenant for the first Lease Year Notice”) of Landlord’s determination of the second Renewal Term Fair Market Rental Rate and shall advise Tenant of the required adjustment to Base Rent, if any. Tenant may accept the Fair Market Rental Rate set forth in the Rental Notice by written notice (the “Acceptance Notice”) to Landlord given within 15 days after receipt of the Rental Notice. If Tenant fails to timely to deliver its Acceptance Notice, unless Tenant shall have timely delivered Landlord the Rejection Notice (as defined below), then Tenant’s Option to Extend shall automatically expire and be of no further force or effect and this Lease shall not be less than the Basic Annual Rental payable by Tenant extended for the third (3rd) Lease Year of the first Renewal Term. If Tenant, within fifteen (15) days after receipt of the rent floor described above is applicable Rental Notice, provides Landlord with written notice confirming its exercise of its option to extend for the First Renewal Term, Landlord shall provide to Tenant a refurbishment allowance equal to Seven Dollars ($7.00) per square foot but rejection of rentable space the terms set forth in the Demised Premises. No refurbishment allowance Rental Notice (the “Rejection Notice”), then for a period of fifteen (15) days thereafter Landlord and Tenant shall be provided by Landlord work together in good faith to Tenant if agree upon the rent floor is applicable to Base Rent for the second Renewal Term. Furthermore, If Landlord and Tenant do not agree in writing upon the Basic Annual Rental payable by Tenant during Base Rent for the first Lease Year of each Renewal Term within such fifteen (15)-day period, then Tenant shall have been deemed to have rescinded its exercise of its Option to Extend (and the Option to Extend shall be subject deemed void and of no further force or effect and Tenant shall have no right to escalationexercise the same), commencing with unless Tenant gives Landlord written notice within five (5) days after the second expiration of such fifteen (15)-day period that the Base Rent shall be at 95% of the Fair Market Rental Rate, as determined by arbitration pursuant to Exhibit C of this Lease (which notice shall be binding on Tenant and each succeeding Lease Year during irrevocably commit Tenant to extend the applicable Term for the 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. 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, nor more than one hundred five percent (105%) of the Basic Annual Rental payable by Tenant during the 10th 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 during 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 nor more than one hundred five percent ($7.00105%) 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 5th Lease Year of each Renewal Term shall be subject to escalation, commencing with the second and each succeeding Lease Year during the applicable first 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 two hundred seventy (300270) 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.