Market Base Rental Rate means the net effective rate per square foot of net rentable area at which a willing lessor and a willing lessee would agree to lease comparable space to that for which the Market Base Rental Rate is being determined in comparable office buildings in the West Loop/Galleria area of Houston, Texas, which rate shall take into account all relevant economic and non-economic factors, including but not limited to: the credit-worthiness, reputation and other qualities of such lessee, the quality and reputation of the management of the building in question, the amount of space being offered for lease, the location within the building of such offered space, whether the space being offered is a full floor or a portion of a multi-tenant floor, the quality and finish of the offered space as it then exists, the age and quality of such building, the lease term and renewal options, the scheduled or actual commencement date, add-on factors, basis for paying operating expenses, parking charges and market inducements, such as free rent, moving expenses, and architectural, construction and lease assumption allowances.
Market Base Rental Rate means Landlord's determination of the annual gross rental (inclusive of expense pass-through additions per square foot of Net Rentable Area being charged in Comparable Buildings for space comparable to the space for which the Market Base Rental Rate is being determined (taking into consideration use, location, floor level within the applicable building, the definition of Net Rentable Area, extent of leasehold improvements existing, remodeling credits or allowances granted, quality, age and location of the applicable building, rental concessions {such as abatements or lease assumptions}, the provision of free or paid unassigned parking, the time the particular rate under consideration became effective, size of tenant, creditworthiness of tenant, the then current operating expenses of the building, relative services provided, and other relevant factors). It is agreed that bona fide written offers to lease comparable space located elsewhere in the Building from third parties (at arm's length) and leases completed in the Building within six (6) months prior to the date of Landlord's determination may at Landlord’s option be used by Landlord as an indication of Market Base Rental Rate. Landlord's determination of the Market Base Rental Rate shall be made by Landlord in good faith and shall be binding upon Tenant. - 3 Riv EXHIBIT H SYNTHESIS ENERGY SYSTEMS FORM OF LETTER OF CREDIT [Name of Bank] ______________, 200__ IRREVOCABLE TRANSFERABLE STANDBY LETTER OF CREDIT NO. _______ AVPF Riverway, Ltd. Xxxxx Xxxxxxxx, Xxxxx 000 Xxxxxxx, Xxxxx 00000 Ladies and Gentlemen: We have established our Irrevocable Transferable Standby Letter of Credit in your favor, for the account of Synthesis Energy Systems, Inc., numbered as indicated above, expiring on ________, 200_, and for a sum or sums not exceeding a total of three hundred twenty-eight thousand nine hundred dollars and 00/000 XXXXXX XXXXXX DOLLARS (US$328,900.25), available by your draft at SIGHT on us, accompanied by a statement signed by your representative reading “Synthesis Energy Systems, Inc., its successor or assign (‘Tenant’) has committed a default under the Lease dated as of _________, 200___, between AVPF Riverway, Ltd. (‘Landlord’) and Tenant, by failing to pay or perform an obligation of Tenant under the Lease when due, and as a result, the undersigned is authorized and empowered to draw upon Irrevocable Transferable Standby Letter of Credit No. _____.” Please refer to our reference number shown above wh...
Market Base Rental Rate means the annual amount per rentable square foot that Landlord is then quoting as base rent to existing third party tenants who are renewing leases within the Building, for space comparable to the space for which the Market Base Rental Rate is being determined (taking into consideration use, location and/or floor level within the applicable building, the definition of Rentable Floor Area, leasehold improvements provided, remodeling credits or allowances granted, quality, age and location of the applicable building, rental concessions [such as abatements or lease assumptions], the provision of free or paid unassigned parking, the time the particular rate under consideration became effective, size of tenant, relative operating expenses, relative services provided, etc.). It is agreed that written offers to lease comparable space located elsewhere in the Building or in comparable buildings in the Highway 280 submarket may be used by Landlord as an indication of Market Base Rental Rate.
Examples of Market Base Rental Rate in a sentence
In no event may either Landlord or Tenant elect not to extend the Lease based upon the Market Base Rental Rate established in accordance herewith.
If they are unable to agree on the Market Base Rental Rate within twenty (20) days after the date the second appraiser has been appointed, they shall elect a third appraiser meeting the qualifications stated in this paragraph within seven (7) days after the last day the two (2) appraisers are to set the Market Base Rental Rate.
The appraisers appointed by the parties shall meet promptly and attempt to set the Market Base Rental Rate.
If the Market Base Rental Rate is not established for the extended term prior to its commencement, Tenant shall continue to pay the applicable Base Rent required for the last full month of the Lease term until the appraisers have made their determination.
Within twenty (20) days of Tenant's exercise of its Extension Option, Landlord agrees to provide Tenant with Landlord's determination ("Landlord's Determination") of the Fair Market Base Rental Rate.
More Definitions of Market Base Rental Rate
Market Base Rental Rate means the market annual net rental rate (exclusive of expense pass-through additions, whether characterized as such or not, which are similar to the categories described in Sections 6.1.B. and C. below) per rentable square foot of each segment of Premises (Existing Renovated Office Space, Lab Space, New Office Space and Put-Back Space) and for the time period as to which such rate is being determined, that a willing tenant would pay and a willing landlord would accept, in arm’s length bona fide negotiations (taking into consideration all relevant factors including, without limitation, the following factors: rent being charged in other first class lab, office and warehouse buildings located in the Center, for leases then being entered into for comparable space to the Premises for which the Market Base Rental Rate is being determined; location, quality, amenities, age and reputation of the buildings in which the space being compared is located; use and size of the space under comparison; location and/or floor level of the Premises and any comparison space within their respective buildings, including view, elevator lobby exposure, etc.; definition of “net rentable area” applicable to the spaces; distinction (if any) between “gross” and “net” rental rates and type, base year or dollar amount for escalation purposes (both operating costs and real estate taxes) if the comparison is on a “gross” lease basis; any other adjustments (including through use of an index) to base rental; extent of services provided or to be provided; extent and condition of leasehold improvements in the Premises and in any comparison space; abatements pertaining to the Premises and to any comparison space (including with respect to base rental, operating expense and/or real estate taxes); inclusion of parking charges in rental, if applicable; lease takeovers/assumptions by the landlord of the comparison space, if applicable; moving allowances granted, if any, in connection with the Premises and with respect to any comparison space; relocation allowances granted, if any, in connection with the Premises and with respect to any comparison space; club memberships granted, if any; construction, refurbishment and repainting allowances granted, if any, in connection with the Premises and with respect to any comparison space; any other concessions or inducements in connection with the Premises and with respect to any comparison space; term or length of lease of Premises and of any comparison sp...
Market Base Rental Rate means the annual amount per square foot of Net Rentable Area that a willing Lessee would pay and a willing Lessor would accept in arm's length, bona fide negotiations for a renewal of the Premises to be executed at the time of determination and to commence at the beginning of the respective Renewal Term, as reasonably determined by Lessor in good faith based upon comparable lease transactions made in the Building and in other comparable Class A high-rise buildings within the Complex and in the West Belt/Northwest office lease submarket to Houston, Texas within the previous one (1)-year period, taking into consideration the location, quality and age of the building, floor level, use and size of the Premises, parking ratio and parking charges, extent of leasehold improvements to be provided, rental abatements, lease takeovers or assumptions, relocation allowances, moving expenses and other concessions, level of LEED certification, length of term, extent of services to be provided, distinction between "gross" and "net" lease, base year or amount allowed by Lessor for payment of building operating expenses (expense stop) for the applicable Renewal Term, the time the particular rental rate under consideration became or is to become effective, credit standing and financial stature of the Lessee or sublessee, any other adjustments (including by way of indexes) to base rental, or any other relevant term or condition. Notwithstanding the foregoing, in no event shall the Market Base Rental Rate be less than the average effective rate accepted by Lessor for comparable space elsewhere in the Building, Lessor and Lessee hereby agreeing that the best comparable for determining the Market Base Rental Rate shall be similar leases that Lessor has executed or will be executing in the Building. Within thirty (30) days after receipt of Lessee's notice of exercise of the Renewal Option, Lessor will notify Lessee in writing of its determination of the Market Base Rental Rate for the Premises for the respective Renewal Term. If Lessee does not approve of Lessor’s determination of Market Base Rental Rate, Lessee may withdraw its exercise of the Renewal Option by delivering Lessor written notice thereof within ten (10) business days after receipt of Lessor’s determination. LESSOR’S INITIALS: LESSOR’S INITIALS: 1 EXHIBIT "G"
Market Base Rental Rate as of any date shall mean the annual net (excluding that portion of the rate associated with operating expenses) rental rate per square foot of net rentable area which a willing landlord under no compulsion would agree to accept as of such date from a tenant having the creditworthiness of Tenant, and such a willing tenant under no compulsion would agree to pay as of such date, under new leases (based on the projected Term) of space in comparable office buildings located in the Buckhead area of Atlanta, Georgia comparable to the space for which the Market Base Rental Rate is being determined and on a comparable basis (taking into consideration use, location and/or floor level within the applicable building, definition of rentable floor area, leasehold improvements provided, remodeling credits or allowances granted, quality, age and location of the applicable building, rental concessions [such as abatements, free rent or lease assumptions], the time the particular rate under consideration became effective, size of tenant, relative operating expenses, relative services provided, etc.). If Landlord and Tenant are unable to agree upon the applicable Market Base Rental Rate prior to the date which is twelve (12) months before the commencement of the Extended Term, either party may demand arbitration as hereinafter provided:
Market Base Rental Rate means Lessor's determination of the annual net rental rate per square foot (exclusive of expense pass-through additions for Operating Costs and Real Estate Taxes) of rentable space then being asked by Lessee within the Building.
Market Base Rental Rate means the amount of cash which a landlord would receive annually by then renting the space in question assuming the landlord to be a prudent person willing to lease but being under no compulsion to do so, assuming the tenant to be a prudent person willing to lease but being under no compulsion to do so, and assuming a lease containing the same terms and provisions as those herein contained. Market Base Rental Rate shall take into consideration all relevant factors including the condition of the space.
Market Base Rental Rate means the then Base Rental Rate for comparable first class multi-tenant office buildings of comparable size, location and age in Broomfield, Colorado, at such time, taking into account the following factors: (i) rent per rentable square foot; (ii) operating expenses and real estate tax 35 41 payments; (iii) current rental escalators; and (iv) rental concessions, if any, as applicable to market renewals of leases.
Market Base Rental Rate means the then Base Rental Rate for comparable first class single tenant office buildings of comparable size, location and age in the County of Boulder, Colorado, at such time, taking into account the following factors (1) rent per rentable square foot; (2) operating expenses and real estate tax payments; (3) current rental escalators and (4) rental concessions, if any. If any portion of the Market Base Rental Rate is attributable to improvements made by Tenant at Tenant's expense, then the Market Base Rental Rate shall specifically exclude any adjustment made by reason of such alterations.