Fair Market Value Rent definition

Fair Market Value Rent means the per annum minimum rent which would be payable monthly in advance for the applicable Property or the Leased Property (as the case may be) in its then current condition and for its then current use, on the terms and conditions of this Agreement (including, without limitation, the obligation to pay Additional Rent).
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Fair Market Value Rent means the most probable rent, as of a specific date, in cash or in terms equivalent to cash, for which the property to be leased, under the terms and conditions of the lease, should rent for its highest and best permitted use after reasonable exposure in a competitive market under all conditions requisite to a fair leasing opportunity, with the lessor and the lessee each acting prudently, knowledgeably, and for self-interest, and assuming that neither is under undue duress. Determinations of fair market value rent under this part are to be made taking into account the considerations stated in § 18.5.
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Fair Market Value Rent means the most probable rent, as of a specific date, in cash or in terms equivalent to cash, for which a Residential Unit to be leased, under the terms and conditions of the Lease, should rent for its highest and best permitted use after reasonable exposure in a competitive market under all conditions requisite to a fair leasing opportunity, with the Lessee and the Sublessee each acting prudently, knowledgeably, and for self-interest, and assuming that neither is under undue duress.
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Examples of Fair Market Value Rent in a sentence

  • An appraisal or similar determination to confirm the Fair Market Value Rent for the Initial Improvements will be completed by the NPS on or before the Lease Execution Date.

  • To confirm (with respect to the Initial Phase of the Phased Improvements) or reconfirm (with respect to subsequent phases of the Phased Improvements) the Fair Market Value Rent NPS will require that the appraisal or similar determination take into consideration the applicable Scope of Development to be completed as part of such phase and the requirements of the leasing regulations (36 CFR Part 18, as amended, revised or superseded) and NPS guidelines as adopted and as amended, revised or superseded.

  • An appraisal or similar determination may be conducted by the NPS as part of each phase of the Phased Improvements to reconfirm that the rent is consistent with Fair Market Value Rent.

  • With respect to any Fair Market Value Rent reconfirmation conducted in connection with phases of the Phased Improvements subsequent to completion of the Initial Improvements, if no material change is made in the type of activities authorized by Section 6.1 of the Lease, conducted by the Developer under the Lease in any part of the Premises, then any such Fair Market Value Rent determination will be limited to the increment of such additional phase of the Phased Improvements.


More Definitions of Fair Market Value Rent

Fair Market Value Rent means the annual fair market net rental rate for the Stadium Component, being the most probable annual rent estimated in terms of money that a willing landlord reasonably would be capable of obtaining by leasing the Stadium Component for the term for which the determination is being made, to a willing tenant, if exposed for rental in the open market, allowing for a reasonable period of time to find a tenant, neither landlord nor tenant acting under compulsion, both having knowledge of the highest and best use of the Stadium within the scope of uses permitted by this Lease and taking into account all other terms, benefits and obligations of this Lease, and both exercising intelligent judgement, in circumstances where no inducements, rent free periods, special improvements for the benefit of the tenant or other inducements are provided by the landlord, and which, for clarity, shall take into account the Stadium Component as improved by the Stadium Improvements;
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Fair Market Value Rent means the most probable rent, as of a specific date, in cash or in terms equivalent to cash, for which the property to be leased, under the terms and conditions of the Lease, should rent for its highest and best permitted use after reasonable exposure in a competitive market under all conditions requisite to a fair leasing opportunity, with the NPS and the Lessee under the Lease each acting prudently, knowledgeably, and for self-interest, and assuming that neither is under undue duress. Fair Market Value Rent will be confirmed for the Initial Improvements and reconfirmed for subsequent phases in accordance with Section 2.2(d) below and the Lease.
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Fair Market Value Rent means the fair market annual rental value of the Property as of the Adjustment Date that is the first day of the _____ (__th) and _____ (__th) Extension Terms for lease of a Property with the following characteristics: a triple net lease for a five year term with no more than, as applicable, none or one (1) five-year extension option of comparable restaurant space in a comparable traffic location located within a radius of fifteen (15) miles of the Property, with the Property considered as vacant and in its then “as is” condition but with all of Lessee’s Property removed, with Lessor providing no services to Lessee, and an annual one percent (1.5%) increase in base rent after the first year of the term. The calculation of Fair Market Value Rent shall also take into account all other reasonable relevant factors. Lessor shall advise Lessee (the “Rent Notice”) of Lessor’s determination of Fair Market Value Rent within sixty (60) days of Lessee’s delivery of the Extension Notice for the _______ (__th) and ____ (__th)
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Fair Market Value Rent is defined and shall have the meaning specified in the Basic Lease Information.
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Fair Market Value Rent means the annual fair market net rental rate of the Retail Lands, being the most probable annual rent estimated in terms of money that a willing landlord reasonably would be capable of obtaining by leasing the Retail Lands to a willing tenant on the terms set out in this Lease for the balance of the Term remaining, taking into account any extension terms remaining under Section 2.3, if exposed for rental in the open market, allowing for a reasonable period of time to find a tenant, neither landlord nor tenant acting under compulsion, both having knowledge of the highest and best use of the Retail Lands within the scope of restrictive uses permitted by this Lease and taking into account the requirements of Cooperative Integration, and both exercising intelligent judgement, in circumstances where no inducements, rent free periods, special improvements for the benefit of the tenant or other inducements are provided by the landlord and without taking into account the value of any improvement on the Retail Lands constructed and paid for by the Tenant;
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Fair Market Value Rent means the fair market rental value of the Premises to be included in this Lease on the first day of the applicable Extension Term as agreed upon at least 9 months prior to the commencement of such Extension Term in a written amendment to this Lease entered into by Landlord and Tenant setting forth such amounts. For each Extension Term, following Landlord’s receipt of Tenant’s irrevocable decision to extend this Lease for an Extension Term pursuant to paragraph 4(b) and in any event prior to the day which is twelve (12) months prior to the commencement of such Extension Term, Landlord shall provide Tenant with Landlord’s proposed fair market value rent for such Extension Term. If Landlord and Tenant are unable to agree upon the fair market rental value of the Premises after negotiating same in good faith for ninety (90) calendar days after Tenant’s receipt of such proposed fair market rental value, or if the Fair Market Value Rent has not been established at least 9 months prior to the commencement of such Extension Term, in either case then upon written notice from either party to the other, the annual Fixed Rent payable during such Extension Term shall be at the fair market rental value of the Premises as determined in accordance with Exhibit H. Security Deposit Amount: $2,070,569.23 which Security Deposit Amount shall be increased to $2,413,248.44, on the second anniversary of the Commencement Date, and such amount shall be reduced from time to time, at Tenant’s election, for each Reduction Site that is no longer subject to this Lease (in accordance with paragraph 4(c) below), by the percentage allocated to such Reduction Site set forth on Exhibit E and, to the extent the reduction amount is held in cash or other immediately available funds, Landlord shall remit same to Tenant within fifteen (15) calendar days after Tenant’s election. Landlord Address for Payment by wire transfer to: XX Xxxxxx Xxxxx Bank ABA #: 000-000-000 Acct #: 000-0-000000 Reference: AMF Rent Tenant Address: AMF Bowling, Inc. 0000 XXX Xxxxx Xxxxxxxxxxxxxx, Xxxxxxxx 00000 Attention: Chief Financial Officer THIS LEASE I AGREEMENT, is made and entered into as of the date set forth in the Basic Lease Information (this lease agreement, together with all amendments and supplements hereto, this “Lease”), by and between iSTAR BOWLING CENTERS I LP, a Delaware limited partnership with offices c/o iStar Financial Inc., 1114 Avenue of the Xxxxxxxx, 00xx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000 (together ...
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Fair Market Value Rent. With respect to each Property, the fair market annual rental value of the Property as of the first day of each Extension Term with the following characteristics: an absolute net lease for a five year term with no more than one (1) five-year extension option of comparable healthcare facility space, with the Leased Property considered as vacant and in its then “as is” condition but with all of Lessee’s Personal Property removed, with Lessor providing no services to Lessee, and an annual increase in base rent after the first year of the term equal to the Escalator. The calculation of Fair Market Value Rent shall also take into account all other reasonable relevant factors. Lessor shall advise Lessee (the “Rent Notice”) of Lessor’s determination of Fair Market Value Rent within sixty (60) days following Lessee’s exercise of the extension option for the applicable Extension Term. If Lessee disputes Lessor’s determination of Fair Market Value Rent, the dispute shall be resolved by arbitration as provided in Section 40.27. If the Allocable Base Rent payable during the applicable Extension Term is not determined prior to the first day of such Extension Term, then, commencing on the first Business Day of such Extension Term, Lessee shall pay Allocable Base Rent in an amount equal to the Allocable Base Rent payable by Lessee during the last year of the Fixed Term or the prior Extension Term, as applicable, as increased by the Escalator (the “Interim Rent”). Upon final determination of the Allocable Base Rent for each Extension Term (if this occurs after the commencement of such Extension Term), Lessee shall commence paying such Allocable Base Rent as so determined, and within thirty (30) days after such determination Lessee shall pay any deficiency in prior payments of Allocable Base Rent.
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