Common use of Reset Proposal Notice Clause in Contracts

Reset Proposal Notice. If Lessor desires to reset the aforesaid --------------------- components of Rent, subject to subsection (c) below, Lessor shall give Tenant notice (a "Reset Proposal Notice"), on any date that is not prior to the date --------------------- which is ninety (90) days before the fifth anniversary of the Effective Date but not later than the date which is ninety (90) days after the sixth anniversary of the Effective Date, that, subject to a determination of the Fair Market Rental in accordance with the provisions of this Section 3.2, Lessor may be interested ----------- in resetting the aforesaid components of Rent for the aforesaid balance of the Term. The Reset Proposal Notice shall set forth Lessor's proposal of Fair Market Rental, for the aforesaid balance of the Term, including any escalations proposed by Lessor, and shall further include Lessor's proposal for an amended Exhibit C containing Lessor's proposed allocations of Base Rent and Current --------- Rent, and Transferred Property Percentages, for each of the Leased Properties. Provided that Lessor exercises the Reset Option pursuant to subsection (e) below, the date of delivery of the Reset Proposal Notice is referred to herein as the "Reset Date", provided, however, that, if the Reset Proposal Notice is -------- ------- sent prior to the date which is ninety (90) days after the fifth anniversary of the Effective Date, the "Reset Date" shall be the date which is ninety (90) days after the fifth anniversary of the Effective Date.

Reset Proposal Notice. If Lessor desires to reset the aforesaid --------------------- components of Rent, subject to subsection (c) below, Lessor shall give Tenant notice (a "Reset Proposal Notice"), on any date that is not prior to the date --------------------- which is ninety (90) days before the fifth anniversary of the Effective Date but not later than the date which is ninety (90) days after the sixth anniversary of the Effective Date, that, subject to a determination of the Fair Market Rental in accordance with the provisions of this Section 3.2, Lessor may be interested ----------- in resetting the aforesaid components of Rent for the aforesaid balance of the Term. The Reset Proposal Notice shall set forth Lessor's proposal of Fair Market Rental, for the aforesaid balance of the Term, including any escalations proposed by Lessor, and shall further include Lessor's proposal for an amended Exhibit C containing Lessor's proposed allocations of Base Rent and Current --------- Rent, and Transferred Property Percentages, for each of the Leased Properties. Provided that Lessor exercises the Reset Option pursuant to subsection (e) below, the date of delivery of the Reset Proposal Notice is referred to herein as the "Reset Date", provided, however, that, if the Reset Proposal Notice is -------- ------- sent prior to the date which is ninety (90) days after the fifth anniversary of the Effective Date, the "Reset Date" shall be the date which is ninety (90) days after the fifth anniversary of the Effective Date.