Rent During Option Periods Sample Clauses

Rent During Option Periods. The basic rent for each Option Period shall be the "Fair Market Rental" for such Option Period determined as follows:
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Rent During Option Periods. The initial Minimum Rent for each of the option terms shall be the higher of: (i) the previous year's Minimum Rent amount increased by two percent (2%); or (ii) the fair market value rent as determined by independent appraisal process.
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Rent During Option Periods. The initial Minimum Rent for the first -------------------------- of the option terms for each lease shall be the higher of: (i) the previous year's Minimum Rent amount increased in accordance with the terms and provisions attached hereto as Exhibit "B"; or (ii) an amount equal to the initial Minimum Rent payable in the first twelve (12) months of the initial term of the lease adjusted by the cumulative increase in the Consumer Price Index, U.S. Cities Average, All Items (1982-84=100) published by the United States Department of Labor, Bureau of Labor Statistics in accordance with the manner presently calculated (the "CPI") from the commencement date of the applicable lease to the date on which the new Minimum Rent is being determined. The initial Minimum Rent for the second of the option terms for each lease shall be the higher of: (i) the previous year's Minimum Rent amount increased in accordance with the terms and provisions attached hereto as Exhibit "B"; (ii) an amount equal to the initial Minimum Rent payable in the first twelve (12) months of the first option term of the lease adjusted by the cumulative increase in the CPI from the commencement date of the applicable lease to the date on which the new Minimum Rent is being determined; or (iii) the fair market value rent as determined by an independent appraisal process.
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Rent During Option Periods. The Base Rent provided for in this Section 5 shall be subject to adjustment for each five-year option period commencing on February 16, 2011 and February 16, 2016 respectively. The Base Rent shall be mutually agreed upon by the Landlord and Tenant after taking into consideration the Rents for comparable properties in the Sedona, Arizona area. Notwithstanding any other provision of this Lease, the Base Rent shall not be increased in excess of the Consumer Price Index for all Urban Consumers, United States Cities Average, published by the United States Department of Labor, Bureau of Labor Statistics (the Index). The date of January, 2002 shall be used as the Beginning Index. The date of January 2011 shall be used as the Extension Index for the determination of the maximum Base Rent for the first Option Period and the date January, 2016 shall be used as the Extension Index for the determination of the maximum Base Rent for the Second Option Period. The maximum Base Rent, shall be determined by multiplying the amount of $13,750 by a fraction, the numerator of which is the applicable Extension Index and the denominator of which is the Beginning Index. If the Index is changed so that the base year differs from that in effect when the Term commences, the Index shall be converted in accordance with the conversion factor published by the United States Department of Labor, Bureau of Labor Statistics. If the Index is discontinued or revised during the Term, such other government index or computation with which it is replaced shall be used in order to obtain substantially the same result as would be obtained if the Index had not been discontinued or revised. All rental amounts are "net" rent to Landlord. All Additional Charges ( all other charges to Tenant described in this Lease) shall be deemed Rent whether or not expressly designated as such, and shall be paid in addition to the Rent at the times and in the manner provided for in this Lease.
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Rent During Option Periods. The initial Minimum Rent for the first option term of each Lease shall be the higher of: (i) Minimum Rent in the last twelve (12) months of the initial term of the Lease increased by two percent (2%); or (ii) an amount equal to the initial Minimum Rent payable in the first twelve (12) months of the initial term of the Lease adjusted by the cumulative increase in the CONSUMER PRICE INDEX, U.S. CITIES AVERAGE, ALL ITEMS (1982-84=100) published by the United States Department of Labor, Bureau of Labor Statistics (the "CPI") from the commencement date of the applicable Lease to the first day of the first option term of said Lease. The initial Minimum Rent for the second of the option terms for each Lease shall be the higher of: (i) Minimum Rent in the last twelve (12) months of the first option term of the Lease increased by two percent (2%); (ii) an amount equal to the Minimum Rent payable in the first twelve (12) months of the first option term of the Lease adjusted by the cumulative increase in the CPI from the first day of the first option term of the Lease to the first day of the second option term thereof; or (iii) the fair market value rent for the Property which is the subject of the Lease as determined by an independent appraisal process.
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Rent During Option Periods. Tenant shall pay the following rent for the Leased Premises During Option Term
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Rent During Option Periods. If Lessee duly exercises each Option within the time and in the manner provided herein, the Base Rent during each Option Period (including but not limited to periodic increases of the Base Rent during each Option Period) shall be increased (but not decreased) as of the commencement of each Option Period to the monthly "FAIR MARKET RENT" (as that term is more particularly defined in PARAGRAPH 51.3 below); provided, however that the new Base Rent computed under this PARAGRAPH 51.2 shall not be less than the Base Rent payable during the period immediately preceding such adjustment.
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Rent During Option Periods 
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Related to Rent During Option Periods

  • Term-Out Option The Borrower may, upon notice to the Agent not later than the Termination Date, elect to convert all of the Loans outstanding on the Termination Date in effect at such time into “term loans” in which case the outstanding Loans shall not be due on the Termination Date and shall instead be due and payable on the first anniversary of the Termination Date, with the effect that, notwithstanding anything to the contrary in this Agreement or in any other Loan Document, all references in this Agreement and each other Loan Document to the Termination Date (other than as set forth in this Section 2.17) shall thereafter be deemed to refer to the date that is the first anniversary of the Termination Date; provided that (a) the Borrower shall have delivered an officer’s certificate dated as of the Termination Date certifying (x) that representations and warranties contained in Article IV are true and correct in all material respects on and as of such date (except where any such representation or warranty is otherwise qualified by materiality, in which case such representation or warranty shall be true and correct in all respects and except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date), (b) no Default shall have occurred and be continuing and (c) the Borrower shall have paid to the Agent for the account of the Banks a fee in the amount equal to (x) 0.50% multiplied by (y) the aggregate outstanding principal amount of all Loans so converted. All Loans converted into “term loans” pursuant to this Section 2.17 shall continue to constitute Loans under this Agreement and the other Loan Documents (i) except that the Borrower may not reborrow such Loans pursuant to Section 2.01 after all or any portion of such Loans shall have been prepaid pursuant to Section 2.10 and no new Loans may be borrowed on or after the Termination Date and (ii) the Borrower may prepay such Loans in whole or in part at any time without premium or penalty in accordance with Section 2.10.

  • Option Term This option shall have a term of ten (10) years measured from the Grant Date and shall accordingly expire at the close of business on the Expiration Date, unless sooner terminated in accordance with Paragraph 5 or 6.

  • Option Period (a) Subject to section 2(b), the Optionee shall have the right to purchase all or any portion of the optioned Common Stock at any time during the period ("Option Period") commencing on the Earliest Exercise Date and ending on the earliest to occur of the following dates:

  • Extension of Restriction Period The Restriction Period shall be tolled for any period during which the Executive is in breach of any of Sections 4.2, 4.3 or 4.4 hereof.

  • Extension Options Borrower shall have the option (the “First Extension Option”), by written notice (the “First Extension Notice”) delivered to Lender (which notice may be revoked) no later than thirty (30) days prior to the Stated Maturity Date, to extend the Maturity Date to September 9, 2017 (the “First Extended Maturity Date”). In the event Borrower shall have exercised the First Extension Option, Borrower shall have the option (the “Second Extension Option”), by written notice (the “Second Extension Notice”) delivered to Lender (which notice may be revoked) no later than thirty (30) days prior to the First Extended Maturity Date, to extend the First Extended Maturity Date to September 9, 2018 (the “Second Extended Maturity Date”). In the event Borrower shall have exercised the Second Extension Option, Borrower shall have the option (the “Third Extension Option”), by written notice (the “Third Extension Notice”) delivered to Lender (which notice may be revoked) no later than thirty (30) days prior to the Second Extended Maturity Date, to extend the Second Extended Maturity Date to September 9, 2019 (the “Third Extended Maturity Date”). Borrower’s right to so extend the applicable Maturity Date shall be subject to the satisfaction of the following conditions precedent prior to each extension hereunder:

  • Extension Option The Borrower may request that the Commitments be extended for up to two additional one year periods by providing not less than 30 days’ written notice (the date of such notice, a “Notice Date”) to the Administrative Agent prior to any anniversary of the Closing Date. If a Bank agrees, in its individual and sole discretion (and with the approval of the Swingline Lender and the Issuing Banks, such approval, in each case, not to be unreasonably withheld, delayed or conditioned), to extend its Commitment (such Bank, an “Extending Bank”), it will notify the Administrative Agent, in writing, of its decision to do so no later than 15 days after the applicable Notice Date (such extension decision, a “Commitment Extension”). The Administrative Agent will notify the Borrower, in writing, of the Banks’ decisions promptly upon receipt thereof and in any event not later than one (1) Business Day after receipt thereof. The Extending Banks’ Commitments will be extended for an additional year from the then current Maturity Date so long as (i) the Commitments of the Extending Banks (after giving effect to any assumption by any Extending Banks of Commitments of Declining Banks as described below), together with the Commitments of any New Banks that replace any Declining Banks, represent more than 50% of the Total Commitments then in effect, and (ii) on the date of any request by the Borrower to extend the Commitments, the applicable conditions set forth in Section 5.3 shall be satisfied. No Commitment Extension shall result in the then-existing Maturity Date being more than five (5) years from the effective date of such Commitment Extension. No Bank shall be required to consent to any such extension request or be required to increase its Commitment. The Maturity Date with respect to any Bank that declines or does not respond to the Borrower’s request for an extension of the Commitments (a “Declining Bank”) shall remain the then-existing Maturity Date (without regard to any extension of the Commitments of other Banks); provided that the Borrower shall continue to have the right to replace any such Declining Bank (with respect to all or any portion of its Commitment) following the effectiveness of any such extension. The Borrower will have the right to accept Commitments from any Eligible Assignee that is not a Bank in an aggregate amount up to the aggregate amount of the Commitments of any Declining Banks; provided that any Eligible Assignee proposed to be substituted for a Declining Bank (unless such Eligible Assignee is an affiliate of a Bank) must be approved by the Administrative Agent, the Swingline Lender and the Issuing Banks, such approval, in each case, not to be unreasonably withheld, delayed or conditioned. The Borrower may only extend the Maturity Date twice during the term of this Agreement pursuant to this Section 2.7.

  • Extension Term The Term of the Lease is hereby extended for sixty (60) months and, therefore, the Term Expiration Date is hereby amended to mean January 14, 2023. The period commencing on January 15, 2018 (the “Extension Term Commencement Date”) and ending on the Term Expiration Date shall be referred to herein as the “Extension Term.”

  • Renewal Options Lessee shall have the right to extend this Lease with respect to the Aircraft for two successive periods having a duration of two years each (each such period being hereinafter referred to as a “Renewal Term”), each commencing at the expiration of the Basic Term or a Renewal Term, as the case may be. During any such Renewal Term, (a) the monthly Basic Rent shall be the monthly equivalent of the Fair Market Rental Value of the Aircraft and (b) the monthly Stipulated Loss Value amounts shall be the Stipulated Loss Value as of the last day of the Basic Term and thereafter the Stipulated Loss Value shall decline monthly on each Stipulated Loss Value Determination Date during such Renewal Term at a rate of 3% per annum through the end of such Renewal Term. Each such option to renew shall be exercised upon written revocable notice from Lessee to Lessor given not less than 300 days prior to (i) the Lease Expiry Date or (ii) the last day of the Renewal Term then in effect, as the case may be. Within 30 days of Lessee’s delivery of such revocable notice to Lessor, Lessee LA 1 – Lease Agreement [Lease Agreement ([Year] MSN [MSN])] and Lessor shall calculate the amounts that would be payable in respect of Basic Rent and Stipulated Loss Value during such Renewal Term in accordance with the second sentence of this Section (including the determination of the applicable Fair Market Rental Value of the Aircraft by mutual agreement or Independent Appraisal), and promptly following such calculation (but in any event no later than the date that is 270 days prior to (i) the Lease Expiry Date or (ii) the last day of the Renewal Term then in effect, as the case may be), Lessee shall either deliver an irrevocable notice to renew the Lease or revoke its earlier revocable notice to renew the Lease. If no Event of Default shall have occurred and be continuing on the Lease Expiry Date or the last day of the Renewal Term then in effect, as the case may be, then this Lease shall be extended for the additional period of such Renewal Term at the Basic Rent and Stipulated Loss Value amounts calculated pursuant to the preceding sentence, and otherwise on the same conditions provided for herein.

  • Exercise Periods 8 SECTION 3.3 Expiration ...................................................... 8 SECTION 3.4

  • Expansion Options Tenant shall have expansion rights as to spaces described below. Option Spaces “1”, “2” and “3” below shall be subject to Landlord’s and Tenant’s final approval of exact location of such Option Space based upon the Tenant’s final determination of the exact location and size of the Leased Premises, which, as set forth herein, shall be determined no later than March 1, 2013, it being intended by both parties that Option Space 1 shall be a full floor and shall be contiguous to the Leased Premises and that Option Space 2 shall be a full floor and shall be contiguous to the Leased Premises or to Option Space 1. For example only, if the initial Leased Premises includes premises on the 5th floor, then Option Space 1 and Option Space 2 will be substantially as depicted on Schedule “G-1” hereto, but if the initial Leased Premises do not include premises on the 5th floor, then Option Space 1 and Option Space 2 will be on the 5th and 4th floors, respectively. The determination of the location of Option Spaces shall be memorialized in writing by the parties on or before March 15, 2013 following Tenant’s election as to the size of the initial Leased Premises. If leased by Tenant within the required time periods, Option Space 1 and Option Space 2 shall be leased on the same terms and conditions of the initial Lease, with the Allowance, Abatement and any other rental concessions prorated for the remaining Term, all as set forth below, and the Term for such space(s) shall be co-terminus with the initial Term. If leased by Tenant, Option Space 3 will be leased in accordance with the terms below. Tenant’s expansion options are as follows:

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