Comparable Term shall refer to the length of the lease term, without consideration of options to extend such term, for the space in question. In addition, the determination of the Market Rent shall include a determination as to whether, and if so to what extent, Tenant must provide Landlord with financial security, such as a letter of credit or guaranty, for Tenant’s rent obligations during any Option Term or First Offer Term (as the case may be). Such determination shall be made by reviewing the extent of financial security then generally being imposed in Comparable Deals upon tenants of comparable financial condition and credit history to the then existing financial condition and credit history of Tenant (with appropriate adjustments to account for differences in the then-existing financial condition of Tenant and such other tenants). If in determining the Market Rent, Tenant is entitled to an improvement or comparable allowance for the improvement of the Premises or the First Offer Space (as the case may be) (the “Market Rent Improvement Allowance”), Landlord may, at Landlord’s sole option, elect any or a portion of the following: (A) to grant some or all of the Market Rent Improvement Allowance to Tenant in the form as described above (i.e., as an improvement allowance), and/or (B) to reduce the rental rate component of the Market Rent to be an effective rental rate which takes into consideration that Tenant will not receive the total dollar value of such excess Market Rent Improvement Allowance (in which case the Market Rent Improvement Allowance evidenced in the effective rental rate shall not be granted to Tenant). Notwithstanding anything to the contrary contained above in this Section 2.2.2, if there are not a sufficient number of Comparable Deals with comparable lease terms to the Option Term (or First Offer Term, as the case may be) to determine the Market Rent of the Premises (or First Offer Space, as the case may be) for a lease of such duration, then the Market Rent for purposes of this Section 2.2.2 shall be equal to that of Comparable Deals with terms of five (5) years, provided that the concessions shall be appropriately adjusted to account for the difference between the Option Term (or First Offer Term, as the case may be) and the lease terms of the Comparable Deals.
Comparable Term shall refer to the length of the lease term, without consideration of options to extend such term, for the space in question. If in determining the Market Rent for an Option Term, Tenant would, pursuant to the Comparable Deals and the Rent Concessions set forth therein, otherwise be entitled to a tenant improvement or comparable allowance for the improvement of the Premises (the "OPTION TERM TI ALLOWANCE"), Tenant shall not be entitled to, and shall not be compelled, to receive such Option Term TI Allowance, and Landlord shall reduce the rental rate component of the Market Rent to be an effective rental rate which takes into consideration that Tenant will not receive any Option Term TI Allowance. The term "COMPARABLE BUILDINGS" shall mean other office buildings in the Project, and other first-class lab buildings which are comparable to the Building in terms of age (based upon the date of completion of construction or major renovation as to the building containing the portion of the Premises in question), quality of construction, level of services and amenities, size and appearance, and are located in the Sorrento Mesa, University Towne Center and Xxxxxx Xxxxx areas (the "COMPARABLE AREA").
Comparable Term shall refer to the length of the lease term, without consideration of options to extend such term, for the space in question. In addition, the determination of the Market Rent shall include a determination as to whether, and if
Examples of Comparable Term in a sentence
The term "Comparable Term" shall refer to the length of the lease term, without consideration of options to extend such term, for the space in question.
As used in these regulations, the term “residential occupant” shall] means an occupant of an IMD unit [an interim multiple dwelling] [eligible] qualified for protection under Article 7-C of the New York State Multiple Dwelling Law (“MDL”).
In geological plan & section G1, G2, G3 and G4 scale exploration area should be marked properly as per UNFC and Minerals (Evidence and Mineral contents) Rules, 2015.
More Definitions of Comparable Term
Comparable Term shall refer to the length of the lease term, without consideration of options to extend such term, for the space in question. In addition, the determination of the Market Rent shall include a determination as to whether, and if so to what extent, Tenant must provide Landlord with financial security, such as a letter of credit, for Tenant’s rent obligations during any Option Term or in connection with Tenant’s lease of the First Offer Space; provided, however, in no event shall Landlord require additional security from Tenant in an amount that exceeds Landlord’s actual out-of-pockets costs (e.g., leasing commissions and/or improvement allowances) in connection with Tenant ‘s lease of the Premises during the Option Term or Tenant’s lease of the First Offer Space, as applicable; provided further, however, if Tenant’s “Net Worth,” as that term is defined in Section 14.8 of this Lease, below, as of the commencement of the Option Term or the First Offer Commencement Date, as applicable, is equal to or greater than the Net Worth of the Original Tenant on the date of this Lease, then Tenant shall not be required to provide Landlord with any additional financial security for Tenant’s rent obligations during the Option Term or Tenant’s lease of the First Offer Space, as applicable. Such determination shall be made by reviewing the extent of financial security then generally being imposed in Comparable Deals upon tenants of comparable Net Worth to the then existing Net Worth of Tenant (with appropriate adjustments to account for differences in the then-existing financial condition of Tenant and such other tenants) If in determining the Market Rent in connection with the Option Term or in connection with Tenant’s lease of the First Offer Space, Tenant is entitled to a tenant improvement or comparable allowance for the improvement of the Premises or First Offer Space, as applicable (the “TI Allowance”), Landlord may, at Landlord’s sole option, elect any or a portion of the following: (A) to grant some or all of the TI Allowance to Tenant in the form as described above (i.e., as an improvement allowance), and/or (B) to reduce the rental rate component of the Market Rent to be an effective rental rate which takes into consideration the fact that Tenant will not receive the total dollar value of such excess TI Allowance (in which case the TI Allowance evidenced in the effective rental rate shall not be granted to Tenant). The term “Comparable Buildings” shall mean the Bui...
Comparable Term shall refer to the length of the lease term, without consideration of options to extend such term, for the space in question; provided, however, that in calculating the Market Rent for the Initial Premises Extended Term and the Initial Premises/Expansion Space 1 Extended Term, as the case may be, the Market Rent shall be determined based upon Comparable Deals which are entered into for a term of up to ten (10) years, provided further that in the event that the term of one or more Comparable Deals exceeds the term of the Initial Premises Extended Term or the Initial Premises/Expansion Space 1 Extended Term, as the case may be, the Rent Concessions applicable to such Comparable Deals shall be prorated to reflect the actual length of the Initial Premises Extended Term and Initial Premises/Expansion Space 1 Extended Term, as the case may be, for purposes of calculating the Market Rent. In no event shall the Rent payable by Tenant with respect to the initial Premises, as set forth in this Lease, be considered in determining the Market Rent.
Comparable Term shall refer to the length of the lease term, without consideration of options to extend such term, for the space in question. In addition, the determination of the Market Rent shall include a determination as to whether, and if so to what extent, Tenant must provide Landlord with financial security, such as a letter of credit or guaranty, for Tenant’s rent obligations during any Option Term. Such determination shall be made by reviewing the extent of financial security then generally being imposed in Comparable Deals upon tenants of comparable financial condition and credit history to the then existing financial condition and credit history of Tenant (with appropriate adjustments to account for differences in the then-existing financial condition of Tenant and such other tenants). The term “Comparable Projects” shall mean the Project and other first-class institutionally-owned mixed-use projects which are comparable to the Project in terms of age (based upon the date of completion of construction or major renovation as to the building containing the portion of the Premises in question), quality of construction, level of services and amenities (including the type (e.g., surface, covered, subterranean) and amount of parking), size and appearance, and are located in the Orange County Airport area (the “Comparable Area”).
Comparable Term shall refer to the length of the lease term, without consideration of options to extend such term, for the space in question. In addition, the determination of the Market Rent shall include a determination as to whether, and if so to what extent, Tenant must provide Landlord with financial security, such as a letter of credit or guaranty, for Tenant's rent obligations during any Option Term. Such determination shall be made by reviewing the extent of financial security then generally being imposed in Comparable Transactions upon tenants of comparable financial condition and credit history to the then existing financial condition and credit history of Tenant (with appropriate adjustments to account for differences in the then-existing financial condition of Tenant and such other tenants) If in determining the Market Rent, Tenant is entitled to a tenant improvement or comparable allowance for the improvement of the
Comparable Term shall refer to the length of the lease term, without consideration of options to extend such term, for the space in question. If in determining the Market Rent, Tenant is entitled to a improvement or comparable allowance for the improvement of the Premises (the "Option Term Improvement Allowance"), Landlord may, at Landlord's sole option, elect any or a portion of the following: (A) to grant some or all of the Option Term Improvement Allowance to Tenant in the form as described above (i.e., as an improvement allowance), and/or (B) to reduce the rental rate component of the Market Rent to be an effective rental rate which takes into consideration that Tenant will not receive the total dollar value of such excess Option Term Improvement Allowance (in which case the Option Term Improvement Allowance evidenced in the effective rental rate shall not be granted to Tenant). The term "Comparable Buildings" shall mean the Building, and other first-class institutionally-owned office buildings which are comparable to the Building in terms of tenant mix, age (based upon the date of completion of construction or major renovation), quality of construction, level of services and amenities (including the type (e.g., surface, covered, subterranean) and amount of parking), size and appearance, and are located in the "Comparable Area," which is the South San Xxxx – Xxxxxxx Avenue and Xxxxxxx Oaks Technology Park submarkets.
Comparable Term shall refer to the length of the lease term, without consideration of options to extend such term, for the space in question. In addition, the determination of the Market Rent shall include a determination as to whether, and if so to what extent, Tenant must provide Landlord with financial security, such as a letter of credit or guaranty, for Tenant's rent obligations during any Option Term, and the value of such credit enhancement, or lack thereof, to Landlord in comparison to the credit enhancements granted in Comparable Deals. Such determination shall be made by reviewing the extent of financial security then generally being imposed in Comparable Deals upon tenants of comparable financial condition and credit history to the then existing financial condition and credit history of Tenant (with appropriate adjustments to account for differences in the then-existing financial condition of Tenant and such other tenants). If in determining the Market Rent, Tenant is entitled to a tenant improvement or comparable allowance for the improvement of the Extension Premises (the "OPTION TERM TI
Comparable Term shall refer to the length of the lease term, without consideration of options to extend such term, for the space in question. In addition, the determination of the Fair Market Rental Value shall include a determination as to whether, and if so to what extent, Tenant must provide Landlord with financial security, such as a letter of credit or guaranty, for Tenant’s rent obligations during the Extension Term. Such determination shall be made by reviewing the extent of financial security then generally being imposed in Comparable Transactions upon tenants of comparable financial condition and credit history to the then existing financial condition and credit history of Tenant (with appropriate adjustments to account for differences in the then-existing financial condition of Tenant and such other tenants). The term “Comparable Buildings” shall mean the Building and other office buildings which are comparable to the Building in terms of age (based upon the date of completion of construction or major renovation as to the building containing the portion of the Premises in question), quality of construction, level of services and amenities (including parking availability and parking rates), size and appearance, and are located in the Carlsbad Ranch submarket (“Comparable Area”).