Rent Determination Sample Clauses
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Rent Determination. The Option granted hereunder shall be upon the terms and conditions contained in the Lease except (i) rights of first offer or abilities to request expansion space shall not be applicable, (ii) no Landlord's contributions, tenant allowances or similar concessions shall be applicable, (iii) no leasing commissions shall be payable by Landlord, (iv) the Base Year for Option Term shall be the last year of the initial Lease Term, and (v) the Rent to be paid by Tenant to Landlord during the Option shall be the then Market Rate, as hereinafter defined. Subject to said caveat, Rent for the Option Term shall be determined as follows:
(1) Within 14 days of Landlord's receipt of the Option Notice, Landlord shall notify Tenant in writing ("Landlord's Notice") of the proposed Market Rate, and the resulting Rent, applicable to the Option ("Landlord's Rent Rate"). Tenant shall, within 14 days following receipt of Landlord's Notice, notify Landlord in writing of the acceptance or rejection of the Landlord's Rent Rate set forth therein. If Tenant fails to respond to Landlord's Notice within such 14-day period, Tenant shall be deemed to have accepted Landlord's Rent Rate. If Tenant rejects Landlord's Rent Rate, Tenant's rejection notice shall state Tenant's estimate of the Market Rate, and the resulting Rent, applicable to the Option ("Tenant's Rent Rate"). Landlord shall, within 14 days following receipt of notice of Tenant's Rent Rate, notify Tenant of its acceptance of the Tenant's Rent Rate. If Landlord fails to respond within such 14-day period, Landlord shall be deemed to have rejected Tenant's Rent Rate. Landlord and Tenant shall act in good faith in estimating and proposing their respective determinations of the Market Rate.
(2) If Landlord rejects Tenant's Rent Rate, the parties shall thereafter attempt to negotiate the Rent in good faith. If, however, the parties have not agreed on the Rent within 40 days after the date of the Option Notice, the Rent for the renewal term in question shall be determined as set forth below:
(a) Within 60 days after delivery by Tenant of the Option Notice, Landlord and Tenant shall each appoint an Appraiser, as hereinafter defined. The two Appraisers shall meet promptly and attempt to determine the Market Rate for the renewal term in question. The determination made by the two Appraisers, if they agree, shall be the Market Rate. If the amounts determined by the two Appraisers vary by less than 5%, then the average of the two values s...
Rent Determination. Tenant agrees to pay to Landlord each year during the Term (as the Term may be adjusted pursuant to Section 3.2 or 3.
Rent Determination. The Base Rent for the Option Period shall be the then Fair Market Rental Rate. This Option shall not be personal to Lessee and may be exercised by any assignee of the Lessee permitted under the terms of the Lease. The Option shall be applicable to all space leased by the Lessee pursuant to the Lease.
Rent Determination. The rental amount is based on one of two Housing Authority-designated methods as listed below:
Rent Determination. The parties shall have thirty (30) days after Lessor receives the option notice in which to agree on the Market Value Rent during the extended term. Within the thirty (30) day period after Lessor receives the option notice, Lessor and Lessee shall meet and each shall simultaneously provide to the other its written opinion of the Market Value Rent for the Premises for the renewal term (the Lessor and Lessee Determination Notices, respectively). If the parties agree on the Market Value Rent for the extended term during that period, they shall immediately execute an amendment to this Lease stating the Market Value Rent for the extended term. If the parties are unable to agree on the Market Value Rent for the extended term within that period, then within fifteen (15) days after the expiration of that period, each party, at its costs and by giving notice to the other party, shall appoint a real estate agent of broker "agent/broker") with at least five (5) years' full-time commercial real estate brokerage experience in the area in which the Premises are located, to determine and set the Market Value Rent fr the extended term. f a party does not appoint a real estate agent/broker within fifteen (15) days after the other party has given notice of the name of its agent/broker, the single agent/broker appointed shall be the sole determiner of and shall set the Market Value Rent for the extended term. If the two real estate agent/brokers are appointed by the parties as stated in this paragraph, they shall meet promptly and attempt to set the Market Value Rent for the extended term. If they are unable to agree within thirty (30) days after the second real estate agent/broker has been appointed, they shall attempt to select a third real estate agent/broker meeting the qualifications stated in this paragraph, within fifteen (15) days after the last day the two agent/brokers are given to set the Market Value Rent. If they are unable to agree on the third real estate agent/broker, either of the parties to this Lease, by giving fifteen (15) days' notice to the other party can apply to the then president of the San ▇▇▇▇ Board of Realtors or to the presiding judge of the superior Court of Santa ▇▇▇▇▇ County for the selection of a third real estate agent/broker who meets the qualifications stated in this paragraph. Each of the parties shall bear one-half (1/2) of the cost of appointing the third real estate agent/broker and of paying the third agent/broker's fee. The third ag...
Rent Determination. All provisions of the Lease and this Addendum shall continue in full force and effect during the Option Period; provided, however, that the Base Rent for the first year of the Option Period shall be set at the "Prevailing Market Rent" (as such term is defined below), but in no event less than the Base Rent in effect during the final month of the Original Term. Lessor and Lessee shall have thirty EXHIBIT 10.8.1
Rent Determination. 8.1. The monthly rent for the rental unit shall be determined by an agreement between the parties.
Rent Determination. If the Tenant gives the Landlord a Dispute Notice, the Rent from the relevant Market Review Date is to be the higher of: the market rent for the premises determined by a Valuer appointed under clause 6.5 (Valuer); and the amount of the Rent payable immediately prior to that Market Review Date.
Rent Determination. It is the responsibility of the agency to determine the appropriate monthly rental rate for state-owned residences under its jurisdiction based upon the formula provided by the IDOA. (See Attachment IV.) Rental rates shall not be based upon salary. Rental rates shall be reviewed annually to determine appropriateness. The review of the rental rates shall be conducted at the same time that the housing assignment is reviewed. If the rental rate is to be modified, the modification shall be incorporated into the next lease agreement and the staff person shall be advised of the modification. It shall be the responsibility of the responsible agency to ensure that all necessary documents are completed to initiate and continue the collection of rents on all state- owned housing occupied at the agency’s facility. All rent payments shall be made through bi-weekly payroll deductions as authorized through properly executed forms approved by the State Board of Accounts and Auditor of State. (See Attachment V.) Tenant shall cooperate with the agency to execute all necessary forms for payment of rent prior to occupancy of the state-owned residence. Cancellation of the payroll deduction shall be considered a notice to vacate the premises.
Rent Determination. The Options granted hereunder shall be upon the terms and conditions contained in the Lease except (i) options to extend, following the Options granted in this Section, and rights of first offer or abilities to request expansion space shall not be applicable, (ii) no Landlord's contributions, tenant allowances or similar concessions shall be applicable, (iii) no leasing commissions shall be payable by Landlord, (iv) the Base Year for the First Option shall be the last year of the initial Lease Term and the Base Year for the Second Option shall be the last year of the First Option Term, (v) the restriction on increases in the Capped Operating Expenses shall not apply during either Option Term, and (vi) the Rent to be paid by Tenant to Landlord during the Option shall be equal to 95% of the then Market Rate, as hereinafter defined; provided, however, that in no event shall the