Extension Rent Notice definition

Extension Rent Notice means the “Addendum No. 5 Option Rent Notice.” If the Monthly Rent payable for the Addendum No. 5 Option Space is not determined prior to the day on which Lessee commences to lease the Addendum No. 5 Option Space, Lessee shall pay Monthly Rent for the Addendum No. 5 Option Space in an amount equal to the rentable square foot rate then payable for the then current Demised Premises (the “Addendum No. 5 Option Interim Rent”). Upon final determination of the Monthly Rent for the Addendum No. 5 Option Space, Lessee shall commence paying such Monthly Rent as so determined, and within ten (10) days after such determination Lessee shall pay any deficiency in prior payments of Monthly Rent or, if the Monthly Rent as so determined shall be less than the Addendum No. 5 Option Interim Rent, Lessee shall be entitled to a credit against the next succeeding installments of Monthly Rent in an amount equal to the difference between each installment of Addendum No. 5 Option Interim Rent and the Monthly Rent as so determined which should have been paid for such installment until the total amount of the over payment has been recouped.
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Extension Rent Notice means the “Addendum No. 5 ROFO Rent Notice.” If the Monthly Rent payable for an Addendum No. 5 ROFO Space is not determined prior to the day on which Lessee commences to lease the Xxxxxxxx Xx. 0 XXXX Xxxxx, Xxxxxx shall pay Monthly Rent for the Addendum No. 5 ROFO Space in an amount equal to the rentable square foot rate then payable for the then current Demised Premises (the “Xxxxxxxx Xx. 0 XXXX Xxxxxxx Rent”). Upon final determination of the Monthly Rent for the Xxxxxxxx Xx. 0 XXXX Xxxxx, Xxxxxx shall commence paying such Monthly Rent as so determined, and within ten (10) days after such determination Lessee shall pay any deficiency in prior payments of Monthly Rent or, if the Monthly Rent as so determined shall be less than the Xxxxxxxx Xx. 0 XXXX Xxxxxxx Rent, Lessee shall be entitled to a credit against the next succeeding installments of Monthly Rent in an amount equal to the difference between each installment of Xxxxxxxx Xx. 0 XXXX Xxxxxxx Rent and the Monthly Rent as so determined which should have been paid for such installment until the total amount of the over payment has been recouped.
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Extension Rent Notice means the “ROFO Rent Notice.” If the Monthly Rent payable for a ROFO Space is not determined prior to the day on which Lessee commences to lease the ROFO Space, Lessee shall pay Monthly Rent for the ROFO Space in an amount equal to the rentable square foot rate then payable for the then current Demised Premises (the “ROFO Interim Rent”). Upon final determination of the Monthly Rent for the ROFO Space, Lessee shall commence paying such Monthly Rent as so determined, and within ten (10) days after such determination Lessee shall pay any deficiency in prior payments of Monthly Rent or, if the Monthly Rent as so determined shall be less than the ROFO Interim Rent, Lessee shall be entitled to a credit against the next succeeding installments of Monthly Rent in an amount equal to the difference between each installment of ROFO Interim Rent and the Monthly Rent as so determined which should have been paid for such installment until the total amount of the over payment has been recouped.
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Examples of Extension Rent Notice in a sentence

  • In the event Tenant timely and appropriately exercises its option to extend the Lease by delivering the Tenant’s Response Notice but rejects the Extension Rent set for in the Extension Rent Notice then Landlord and Tenant shall attempt to agree upon the Extension Rent.

  • If Tenant accepts the Base Rent amount before the Extension Notice Deadline, the Base Rent for the Extension Term will be Fair Market Rent set forth by Landlord in the Extension Rent Notice.

  • Within ten (10) days of the appointment of the third arbitrator, Landlord and Tenant will each submit its estimate of the Fair Market Rent and/or the Fair Market Management Fee Cap to the arbitrator(s), which estimate may be any amount and may be different than the amount stated in the Extension Rent Notice or otherwise discussed between the parties.

  • If Tenant fails to deliver Tenant’s Extension Response Notice within the ten (10) business-day period following its receipt of Landlord’s Extension Rent Notice, Tenant shall conclusively be deemed to have accepted Landlord’s determination of the FMRR as set forth in Landlord’s Extension Rent Notice.

  • Failure on the part of Tenant to make a timely and proper demand for such arbitration shall constitute a waiver of the right thereto, and Tenant shall be deemed to have accepted Landlord’s determination of Fair Market Rent and Fair Market Management Fee Cap set forth in the Extension Rent Notice.

  • If Landlord fails to provide the Extension Rent Notice by the Extension Rent Notice Deadline, Tenant will notify Landlord within thirty (30) days of Landlord’s failure to provide the Extension Rent Notice, and Landlord will have an additional thirty (30) days to provide the Extension Rent Notice after receiving Tenant’s notice.

  • If Tenant exercises its option to extend the Lease by delivering the Tenant’s Response Notice but fails to accept or reject the Extension Rent, then Tenant shall be deemed to have rejected the Extension Rent set forth in the Extension Rent Notice.

  • If Tenant accepts the adjusted cap on Management Fees before the Extension Notice Deadline, the cap on Management Fees for the Extension Term will be Fair Market Management Fee Cap set forth by Landlord in the Extension Rent Notice.

  • When graphics appear on the main HMI screen (model with the HMI panel on the housing) with a fan and windows (Figure 4), you can assume that the system has started.

  • Within thirty (30) days after receipt of Tenant's Extension Notice, Landlord shall notify Tenant of Landlord's determination of rent, which shall be equivalent to ninety-five (95%) percent of Fair Market Rental Value (defined below) as determined pursuant to this Section 28, which Landlord proposes to be applicable to the Extension Term ("Landlord's Extension Rent Notice").


More Definitions of Extension Rent Notice

Extension Rent Notice based on the current fair market base monthly rent for the Premises (“Fair Market Rent”). If Landlord fails to provide the Extension Rent Notice by the Extension Rent Notice Deadline, Tenant will notify Landlord within thirty (30) days of Landlord’s failure to provide the Extension Rent Notice, along with Tenant’s estimate of Fair Market Rent, and Landlord will have an additional thirty (30) days to provide the Extension Rent Notice after receiving Tenant’s notice. “Fair Market Rent” shall mean the monthly base rental per rentable square foot that a willing, comparable, non-equity tenant with a credit-worthiness comparable to Tenant would pay, and a willing landlord of a Comparable Property (as hereinafter defined) within a three (3) mile radius of the Premises would accept at “arm’s length” for a non-renewing tenant, giving appropriate consideration to rental rates per square foot, type of escalations (including, but not limited to operating
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Related to Extension Rent Notice

  • Extension Notice has the meaning specified in Section 308.

  • Non-Renewal Notice shall have the meaning set forth in Section 2.

  • Extension Term means the time period defined in §2.C.

  • Non-Extension Notice has the meaning specified in Section 2.10.

  • Extension Option shall have the meaning set forth in Section 2.5(c) hereof.

  • improvement notice means the notice issued by the Authority to the Supplier pursuant to Clause 32.1.3 (Authority Remedies) which will detail how the Supplier shall improve the provision of the Goods and/or Services;

  • Non-Extension Notice Date has the meaning specified in Section 2.03(b)(iii).

  • Commencement Notice means a written notice, given by any Secured Party to the other Secured Parties in accordance with the notice provisions set forth in the Securities Purchase Agreement, pursuant to which such Secured Party notifies the other Secured Parties of the existence of one or more Events of Default and of such Secured Party’s intent to commence the exercise of one or more of the remedies provided for under this Agreement with respect to all or any portion of the Collateral as a consequence thereof, which notice shall incorporate a reasonably detailed description of each Event of Default then existing and of the remedial action proposed to be taken.

  • Market Rent as used herein shall be that rent charged for comparable first class research laboratory and office space in the mid-Cambridge submarket as of the end of the original Term. If, after good faith attempts prior to the expiration of the original Term, the LESSOR and LESSEE cannot agree on a figure representing Market Rent within thirty (30) days after LESSEE has delivered the Extension Notice, either party, upon written notice to the other, may request appraisal and arbitration of the issue as provided in this section. Within fourteen (14) days of the request for arbitration, each party shall submit to the other the name of one unrelated individual or entity with proven expertise in the leasing of commercial real estate in greater Boston/Cambridge to serve as that party’s appraiser. Each appraiser shall be paid by the party selecting him or it. The two appraisers shall each submit their final reports to the parties within thirty (30) days of their selection making their determination as to Market Rent (subject however, to the Extension Rent Floor). The two appraisers shall meet within the next fourteen (14) days to reconcile their reports and collaboratively determine the Market Rent. They shall each make their determination in writing (subject however, to the Extension Rent Floor), including a statement if such is the case, that they are at an impasse. Such a statement of impasse shall be submitted to the parties along with the Market Rent figure which each appraiser has selected and his reasons and substantiation therefor. The appraisers, in case of an impasse, shall also agree on one unrelated individual or entity with expertise in commercial real estate in greater Boston, who shall evaluate the reports of the two original appraisers and within fourteen (14) days of submission of the issue to him, make his own determination as to a figure representing Market Rent (subject however, to the Extension Rent Floor). The determination of this individual or entity (i.e. arbitrator) absent, fraud, bias or undue prejudice shall be binding upon the parties. Annual Base Rent and Additional Rent during any Extended Term shall be payable in advance, in equal monthly installments on the first day of each calendar month. LESSEE in addition to the sums payable annually to LESSOR as Annual Base Rent, shall pay to LESSOR for each year of any Extended Term, as Additional Rent, LESSEE’s Allocable Percentage (as determined by the approximate total rentable space leased) for Operating Expenses, Real Estate Taxes and Utilities as contemplated in Sections 3, 4 and 7 hereof.

  • Extended Term shall have the meaning given such term in Section 2.4.

  • Extension Deadline means, with respect to a letter of credit, the Cutoff Time on the Business Day preceding the day on which the letter of credit expires.

  • Second Extension Period means a period of twelve (12) consecutive months following the First Extended Maturity Date.

  • Notice of Extension/Conversion means the written notice of extension or conversion in substantially the form of Schedule 3.2, as required by Section 3.2.

  • Extension Period has the meaning specified in Section 3.12.

  • Net Rent means all rental Landlord actually receives from any reletting of all or any part of the Premises, less any indebtedness from Tenant to Landlord other than Rent (which indebtedness is paid first to Landlord) and less the Re-entry Costs (which costs are paid second to Landlord).

  • Notice of Extension has the meaning specified in Section 2.20.

  • Extension Request has the meaning specified in Section 2.16(a).

  • Non-Renewal shall have the meaning set forth in Paragraph 2(b) hereof.

  • First Extension Period means a period of twelve (12) consecutive months following the Initial Maturity Date.

  • Escalation Notice has the meaning set forth in Section 8.02.

  • Non-Extension Drawing has the meaning specified in Section 3.5(d).

  • Addition Notice With respect to the transfer of Subsequent Mortgage Loans to the Trust Fund pursuant to Section 2.08, a notice of the Depositor's designation of the Subsequent Mortgage Loans to be sold to the Trust Fund and the aggregate principal balance of such Subsequent Mortgage Loans as of the Subsequent Cut-off Date. The Addition Notice shall be given not later than three Business Days prior to the related Subsequent Transfer Date and shall be substantially in the form attached hereto as Exhibit P.

  • Net Rentable Area means with respect to any Project, the floor area of any buildings, structures or improvements available for leasing to tenants (excluding storage lockers and parking spaces), as reasonably determined by the Administrative Agent, the manner of such determination to be consistent for all Projects unless otherwise approved by the Administrative Agent.

  • Reduction Notice has the meaning set forth in Section 1.3.

  • Extension Determination Date means, in respect of a Series of Covered Bonds, the date falling two Business Days after the expiry of seven days from (and including) the Final Maturity Date of such Covered Bonds.

  • First Extension Option shall have the meaning set forth in Section 2.6.1 hereof.