ROFO Rent definition

ROFO Rent means the fair market base rent for space comparable to the ROFO Space in comparable buildings in comparable Class A Projects. In determining the ROFO Rent, Landlord, Tenant and any broker shall take into account all relevant factors including, but not limited to, without limitation, prevailing market allowances for leasehold improvements and other items and concessions for expanding tenants, space measurement methods and loss factors, the lease term, the size of the space, the location of the building(s), the amenities offered at the building(s), the age of the building(s), and whether operating expenses and other pass-through expenses are on a triple net, base year, expense stop or other basis. In lieu of directly providing any prevailing market allowances and/or concessions, Landlord may elect to reduce the ROFO Rent by the economic equivalent thereof to reflect the fact that such allowances and concessions were not provided directly to Tenant. Tenant will not be entitled to any tenant improvement allowances, free rent periods or other economic concessions (if any) that Tenant was entitled to with respect to the original Premises (as theretofore expanded excluding the ROFO Space), except to the extent such items are indirectly incorporated into the ROFO Rent as set forth in this Section.
Sample 1
ROFO Rent means (i) if exercised during the first 4 years of the Initial Term, the then applicable Fixed Rent on a per rentable square foot basis multiplied by the number of rentable square feet of the ROFO Space; or (ii) any time thereafter, the fair market expansion base rent (along with the then-prevailing annual rent escalation factors in the applicable leasing market), as determined in the same manner as set forth above. In addition, for purposes of determining ROFO Rent under clause (ii) of the preceding sentence, the ROFO Space shall be assumed to be unencumbered space with Tenant requesting a prime lease term that will expire on the then Expiration Date. If Landlord and Tenant do not agree upon the ROFO Rent (as set forth in clause (ii) of the preceding sentence) in writing within 30 days after Landlord receives Tenant’s ROFO Notice, then ROFO Rent shall be determined in accordance with the procedures set forth in Section 27(c) above.
Sample 1
ROFO Rent means (i) if the 15th Floor Offer Space shall be delivered to Tenant on or prior to March 31, 2012, the product of (s) the sum of Fifty Nine Dollars ($59.00) and the PSF Escalation Rent (as hereinafter defined) and (t) the rentable square footage of the 15th Floor Offer Space, (ii) if the 15th Floor Offer Space shall be delivered to Tenant from April 1, 2012 through March 31, 2017, the product of (u) the sum of Sixty Four Dollars ($64.00) and the PSF Escalation Rent and (v) the rentable square footage of the 15th Floor Offer Space, (iii) if the 15th Floor Offer Space shall be delivered to Tenant from April 1, 2017 through March 31, 2022, the product of (w) the sum of Sixty Nine Dollars ($69.00) and the PSF Escalation Rent and (x) the rentable square footage of the 15th Floor Offer Space, and (iv) if the 15th Floor Offer Space shall be delivered to Tenant during the Renewal Term, the product of (y) the sum of the Fixed Rent for the Renewal Term (per rentable square foot) and the PSF Escalation Rent and (z) the rentable square footage of the 15th Floor Offer Space. “PSF Escalation Rent” means the aggregate Escalation Rent then payable with respect to the portion of the Premises located on the 15th floor of the Building only, divided by the aggregate rentable square footage with respect to such portion of the Premises.
Sample 1

Examples of ROFO Rent in a sentence

  • The ROFO Rent shall be as set forth in the ROFO Notice, except that if Tenant disagrees with the ROFO Rent proposed by Landlord, Tenant shall include in the Exercise Notice Tenant’s counter-proposal for ROFO Rent.

  • Basic Annual Rent for the 777-01 North ROFO Premises shall increase annually on each annual anniversary of the 777-01 North ROFO Rent Commencement Date by two and one-half percent (2.5%) of the then-current applicable Basic Annual Rent for the 777-01 North ROFO Premises.

  • Basic Annual Rent for the 777-02 North ROFO Premises shall increase annually on each annual anniversary of the 777-02 North ROFO Rent Commencement Date by two and one-half percent (2.5%) of the then-current applicable Basic Annual Rent for the 777-02 North ROFO Premises.

  • If Tenant fails, in the applicable Acceptance Notice, to expressly reject Landlord’s determination of the Current Market Rate (and ROFO Rent) set forth in the applicable First Offer Notice, then Tenant shall conclusively be deemed to have accepted Landlord’s determination of the Current Market Rate (and ROFO Rent) for the applicable Leased First Right Space as set forth in the applicable First Offer Notice.


More Definitions of ROFO Rent

ROFO Rent means the fair market expansion base rent for space comparable to the ROFO Space in comparable buildings in the market in which the Building is located. In determining the ROFO Rent, Landlord, Tenant and any broker shall take into account all relevant factors including, without limitation, prevailing market allowances and concessions for expanding tenants, space measurement methods and loss factors, the lease term, the size of the space, the location of the building(s), the amenities offered at the building(s), the age of the building(s), and whether operating expenses and other pass-through expenses are on a triple net, base year, expense stop or other basis. In lieu of directly providing any prevailing market allowances and/or concessions, Landlord may elect to reduce the ROFO Rent by the economic equivalent thereof to reflect the fact that such allowances and concessions were not provided directly to Tenant. (iii) If Landlord and Tenant do not agree upon the ROFO Rent in writing within 20 days after Xxxxxxxx receives Xxxxxx’s ROFO Notice, then within 15 days after either party notifies the other in writing that such notifying party desires to determine the ROFO Rent in accordance with the procedures set forth in this Section, Landlord and Tenant shall each deliver to the other party a written statement of such delivering party’s determination of the ROFO Rent, together with such supporting documentation as the delivering party desires to deliver. Within 10 days after such 15-day period, Landlord and Tenant shall appoint a real estate broker having a minimum of 10 years’ experience in the market in which the Building is located who shall select either Landlord’s determination or Tenant’s determination, whichever the broker finds more accurately reflects the ROFO Rent. The broker shall be instructed to notify Landlord and Tenant of such selection within 10 days after such broker’s appointment. The broker shall have no power or authority to select any ROFO Rent other than the ROFO Rent submitted by Landlord or Tenant nor shall the broker have any power or authority to modify any of the provisions of this Lease, and the decision of the broker shall be final and binding upon Landlord and Xxxxxx. If Landlord and Tenant do not timely agree in writing upon the appointment of the broker, Landlord shall submit to Tenant the names of 3 qualified brokers with a minimum of 10 years’ experience in the market in which the Building is located, and Tenant shall have 10 ...
Sample 1
ROFO Rent means the fair market expansion base rent for space comparable to the ROFO Space in comparable buildings in the market in which the Building is located. In determining the ROFO Rent, Landlord, Tenant and any broker shall take into account all relevant factors including, without limitation, prevailing market allowances and concessions for expanding tenants, space measurement methods and loss factors, the lease term, the size of the space, the location of the building(s), the amenities offered at the building(s), the age of the building(s), and whether operating expenses and other pass-through expenses are on a triple net, base year, expense stop or other basis. In lieu of directly providing any prevailing market allowances and/or concessions, Landlord may elect to reduce the ROFO Rent by the economic equivalent thereof to reflect the fact that such allowances and concessions were not provided directly to Tenant.
Sample 1

Related to ROFO Rent

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • 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).

  • Initial Rent means [ ] (£[ ]) STERLING yearly (exclusive of any VAT);

  • Additional Rental has the meaning set forth in Section 4.03.

  • Additional Rent means all amounts payable by the Tenant under this Lease except Base Rent, whether or not specifically designated as Additional Rent elsewhere in this Lease;

  • Base Rent As defined in Section 3.1.

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

  • Rent as used in this Section 21 shall be deemed to be and to mean all sums of every nature required to be paid by Tenant pursuant to the terms of this Lease, whether to Landlord or to others. As used in Sections 21(c)(ii)(A) and (B), above, the “worth at the time of award” shall be computed by allowing interest at the Default Rate. As used in Section 21(c)(ii)(C) above, the “worth at the time of award” shall be computed by discounting such amount at the discount rate of the Federal Reserve Bank of San Francisco at the time of award plus 1%.

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

  • Base Rental means the sum of Seven Hundred Nineteen Thousand Two Hundred Sixty-Eight and NO/100 Dollars ($719,268.00), payable by Tenant to Landlord in sixty (60) monthly installments as follows:

  • Basic Rent means Basic Rent as defined in Paragraph 6.

  • Excess Rent means the excess of (a) all consideration received by Tenant from a Transfer over (b) Rent payable under this Lease after deducting reasonable tenant improvements paid for by Tenant, reasonable attorneys’ fees and any other reasonable out-of-pocket costs paid by Tenant as a result of the Transfer (but specifically excluding any Rent paid to Landlord while the Premises is vacant).

  • Ground Rent means any rent, additional rent or other charge payable by the tenant under the Ground Lease.

  • Additional Rents means amounts payable under any Lease for (i) the payment of additional rent based upon a percentage of the Tenant’s business during a specified annual or other period (sometimes referred to as “percentage rent”), (ii) so-called common area maintenance or “CAM” charges, and (iii) so called “escalation rent” or additional rent based upon such tenant’s allocable share of insurance, real estate taxes or operating expenses or labor costs or cost of living or xxxxxx’x wages or otherwise.

  • Minimum Rent means Forty-Four Million Four Hundred Eleven Thousand Six Hundred Eighteen and 00/100ths Dollars ($44,411,618.00), subject to adjustment as provided in Section 3.1.1(b).

  • Sublease means a lease of goods the right to possession and use of which was acquired by the lessor as a lessee under an existing lease.

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Space Lease The space or occupancy lease pursuant to which any Borrower holds a leasehold interest in the related Mortgaged Property, together with any estoppels or other agreements executed and delivered by the lessor in favor of the lender under the related Mortgage Loan(s).

  • Supplemental Rent means all amounts, liabilities and obligations (other than Basic Rent) which the Lessee assumes or agrees to pay to the Lessor, the Trust Company, the Holders, the Agent, the Lenders or any other Person under the Lease or under any of the other Operative Agreements including without limitation payments of the Termination Value and the Maximum Residual Guarantee Amount and all indemnification amounts, liabilities and obligations.

  • Lease Rentals means, for any period, the aggregate amount of fixed rental or operating lease expense payable by the Company and its Restricted Subsidiaries with respect to leases of real and personal property (excluding Capital Lease Obligations) determined in accordance with GAAP.

  • Annual Rent means the amount payable by Tenant to Landlord in respect of each year of the Term under Article 4.01.

  • Subtenant means any Person entitled to occupy, use, or possess any Premises under a Sublease.

  • Tenant Lease means any lease entered into by the Borrower, any Loan Party or any Subsidiary with respect to any portion of a Property.