Terms and Rent. If the Option is exercised, then the Base Rent during the Option Term shall be the Fair Market Rent for the Premises, as determined below. The term “Fair Market Rent” means the average annual rental, expressed as a rate per rentable square foot, that a willing tenant would pay, and that a willing landlord would accept, at arm’s length, for comparable space in Comparable Buildings (defined below), as evidenced where possible, by signed leases that commence or are to commence within six months prior to or within six months after the commencement of the Option Term (“Comparison Leases”). Comparison Leases shall not include subleases. Rental rates payable under Comparison Leases shall be appropriately adjusted to account for variations between the Lease and the Comparison Leases with respect to: (i) the length of the Option Term compared to the lease term of the Comparison Leases; (ii) the rental structure, including whether gross, industrial gross or net, and if gross, the applicable base year and pass-throughs; (iii) the size, floor level, view and other physical characteristics of the Premises compared to the size, floor level, view and other physical characteristics of the premises under the Comparison Leases; (iv) free rent, the cost of landlord build-outs and/or tenant improvement allowances; and (v) any other relevant factors, terms and conditions, including but not limited to tenant’s use and creditworthiness. As used herein, “Comparable Buildings” means similar “Class A” office buildings in the San Francisco South Financial District, which is the area bounded by Market Street (including both sides of Market Street), Fifth Street, Folsom Street and the Embarcadero.
Terms and Rent. The initial Monthly Rent for the Premises for the Extended Term shall be equal to the greater of (w) ninety-five percent (95%) of the fair market rent, as determined below, for the Premises as of the commencement of the Extended Term, or (x) an amount equal to the Monthly Rent payable during the fourteenth (14th) Lease Year of the initial Term, multiplied by the greater of (A) the lesser of (I) a fraction, the numerator of which is the Index published most recently before the first day of the fourteenth (14th) Lease Year of the initial Term, and the denominator of which is the Index published most recently before the first day of the thirteenth (13th) Lease Year of the initial Term, or (II) one hundred sixteen percent (116%), or (B) one hundred seven percent (107%). During the Extended Term the Monthly Rent shall continue to be subject to adjustment in accordance with the provisions of Paragraph 5.B below. All other terms and conditions of the Lease, as amended from time to time by the parties in accordance with the provisions of the Lease, shall remain in full force and effect and shall apply during the Extended Term; provided, however, that neither the Option to Extend nor Landlord's obligations under the Work Letter shall be of any force or effect during the Extended Term.
Terms and Rent. Lessor demises the above Premises (approximately 4,890 gross rentable square feet) for a term of thirty-six (36) months, commencing on September 1, 2015, and terminating on the anniversary date thirty-six (36) months thereafter (the “Term”). Monthly rent is $4,000, due on or before the 10th of each month. All payments shall be made to Lessor, at the address specified above.
Terms and Rent. The initial Monthly Rent for the Premises for the Extended Term shall be equal to the greater of (x) one hundred percent (100%) of the fair market rent, as determined below, for the Premises as of the commencement of the Extended Term, or (x) an amount equal to the Monthly Rent payable during the last year of the Term, multiplied by one hundred three and one fourth percent (103.25%). All other terms and conditions of the Lease, as amended from time to time by the parties in accordance with the provisions of the Lease, shall remain in full force and effect and shall apply during the Extended Term; provided, however, that neither the Option to Extend nor Landlord's obligations under the Work Letter shall be of any force or effect during the Extended Term.
Terms and Rent. The term of this lease begins and ends (a total of months).
a) This Lease has been signed by the parties on the condition that the Connecticut Department of Mental Health and Addiction Services (DMHAS) will promptly execute a Housing Assistance Payments Contract (Contract) with us. Accordingly, this Lease shall not become effective unless the DMHAS has executed such a contract by the first day of occupancy specified in the Lease.
b) The total rent is $ per month, payable to us in advance on the first day of each month of the term of the Lease. Payment shall be made to our address set forth in paragraph 5.
c) Of the total monthly rent, $ shall be payable by DMHAS as housing assistance payments on your behalf and $ shall be payable by you. The amounts shall be subject to change by reason of changes in your family’s income, family composition, or extent of exceptional medical or other unusual expenses, in accordance with HUD established schedules and criteria; or by reason of adjustment by the DMHAS of any applicable allowance for utilities and other services. Any such change shall be effective as of the date stated in a notification to you.
Terms and Rent. The initial Monthly Rent for the Premises for the Extended Term shall be equal to the greater of (w) one hundred percent (100%) of the fair market rent, as determined below, for the Premises as of the commencement of the Extended Term, or (x) an amount equal to the Monthly Rent payable during the tenth (10th) year of the Term, multiplied by the greater of (A) the lesser of (I) a fraction, the numerator of which is the Index published most recently before the tenth (10th) anniversary of the Commencement Date, and the denominator of which is the Index published most recently before the ninth (9th) anniversary of the Commencement Date, or (II) one hundred six percent (106%), or (B) one hundred three and five-tenths percent (103.5%). All other terms and conditions of the Lease, as amended from time to time by the parties in accordance with the provisions of the Lease, shall remain in full force and effect and shall apply during the Extended Term; provided, however, that neither the Option to Extend nor Landlord's obligations under the Work Letter shall be of any force or effect during the Extended Term.
Terms and Rent. Lessor demises the above premises for a term of 3 years, commencing on the 1st day of January, 2005 and terminating on the 31st day of December, 2007, or sooner as provided herein at the monthly rental of one hundred dollars ($100), payable in advance on the first day of each month for that month’s rental, during the term of this lease. All rental payments shall be made to Lessor at the address specified above. The lease amount is discounted from the normal market value. (Refer to Chart 1)
Terms and Rent. 1The term of this lease shall be for a term of thirty-six (36) months beginning January 1, 2023 and terminating on December 31, 2025.
Terms and Rent. If the Option is exercised, then the Base Rent for the Premises for the first year of the Option Term shall be the fair market rent, as determined below, for the Premises as of the commencement of the Option Term; for the second and each subsequent year of the Option Term, Base Rent shall be increased by three percent (3%) per year. The fair market rent for the Premises shall be based upon the non-renewal rental rates then being charged for similar space in similar office buildings in the submarket in which the Building is located and shall be determined taking into account all relevant factors. All other terms and conditions of the Lease, as amended from time to time by the parties in accordance with the provisions of the Lease, shall remain in full force and effect and shall apply during the Option Term, except that Landlord shall not be obligated to contribute funds toward the cost of any remodeling, renovation, alteration or improvement work in the Premises.
Terms and Rent. If a first Option is exercised, then the Monthly Rent shall be equal to ninety-five percent (95%) of the fair market rent, as determined below, for the Premises as of the commencement of the term of such Option. The fair market rent for the Premises shall be determined by taking into account all relevant factors, including without limitation the fact that the Premises are being leased in turn-key condition. Landlord shall not under any circumstances be required to construct or pay for any additional interior improvements to the Premises. All other terms and conditions of the Lease, as amended from time to time by the parties in accordance with the provisions of the Lease, shall remain in full force and effect and shall apply during the term of the Options provided, however, that notwithstanding the foregoing: (i) there shall be no further option to extend the Term beyond May 31, 2007, (ii) there shall be no rent concessions, and (iii) there shall be no construction allowance, tenant improvement allowance or similar provision.
