Base Rent Adjustment Sample Clauses
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Base Rent Adjustment. A. Base Rent will be adjusted beginning one year following the Commencement Date (as stated in the Basic Terms) each year thereafter, including any renewal periods, based on the annual percentage change in the Consumer Price Index for All Urban Consumers (“CPI-U”). In no event will the annual adjustment result in Base Rent being less than the amount charged during the prior year or more than 3% above the amount charged during the prior year. The most recent available CPI-U as of first anniversary of the Commencement Date and on an annual basis thereafter for each year of the Term and any renewal terms, calculated over the preceding twelve months, shall be used to adjust the Rent for the next year. The Tenant Improvement Rent shall not be increased by the CPI-U (only the Base Rent).
Base Rent Adjustment. Effective as of each annual anniversary of the -------------------- Commencement Date, the Base Rent payable by Tenant for the Premises shall increase to one-hundred four percent (104%) of the Base Rent then in effect for the Premises (without taking into account any temporary rental abatements then in effect).
Base Rent Adjustment. On each anniversary of the Commencement Date the monthly Base Rent shall increase by two hundred eighty dollars ($280.00).
Base Rent Adjustment. The Base Rent payable hereunder shall be adjusted upward from time to time in accordance with the following provisions:
(a) Tenant shall pay to Landlord as an adjustment to Rent, an amount equal to the excess (the “Excess”) from time to time of total annual Operating Expenses per square foot of Rentable Area of the Premises, as Grossed-Up, over and above the Expense Stop. The Excess shall be obtained by multiplying (i) the difference between the annual Operating Expense per square foot of Rentable Area in the Premises and the Expense Stop, by (ii) the total Rentable Area of the Premises as set forth in Section 1.15. Such amount shall be paid in advance in monthly installments on the same dates as Base Rent is due and payable hereunder based on Landlord’s notice delivered to Tenant from time to time setting forth Landlord’s good faith estimate of the Operating Expenses for the current calendar year. Landlord shall have the right to adjust such amount no more than once a year to reflect any changes in Landlord’s estimate of Operating Expenses.
(b) By April 1 of each calendar year during the Lease Term, or as soon thereafter as practicable, Landlord shall furnish to Tenant a statement (“Actual Statement”) of Landlord’s annual Operating Expenses, as Grossed-Up, for the previous calendar year. If for any calendar year the amounts collected from Tenant for the prior year, as a result of Landlord’s estimate of Operating Expenses, exceeds the amount of the Excess actually due during such prior year, then Landlord shall refund to Tenant any overpayment (or at Landlord’s option, apply such amount against Rent due or to become due hereunder). Likewise, Tenant shall pay to Landlord, on demand, any underpayment with respect to the prior year.
(c) In the event of any good faith dispute as to the amount of the Excess as set forth in the statement of actual Operating Expenses, Tenant shall have the right, no more frequently than once per calendar year, after reasonable notice to Landlord and at reasonable times, to inspect and photocopy Landlord’s Operating Expenses records at Landlord’s offices. If, after such inspection and photocopy, Tenant continues, in good faith, to dispute the amount of the Excess as set forth in said statement, Tenant shall be entitled not later than one (1) year following Tenant’s receipt of an Actual Statement to retain a national, independent, certified public accountant who is not contracted on a contingency fee basis and is mutually acceptabl...
Base Rent Adjustment. The amount of Base Rent payable hereunder shall be adjusted annually, the “Adjustment Date,” commencing with the first annual anniversary date (twelve months after the Commencement Date) and thereafter on each anniversary date of the Commencement date or any extension thereof. Such adjustments shall be for the purpose of reflecting the increase, if any, in the cost of living. Adjustments, if any, shall be calculated based upon the United States Department of Labor, Bureau of Labor Statistics Consumer Price Index for All Urban Consumers (CPI-U), San Francisco Bay Area, Sub-group “All Items”, the “Index”. The Index, published as of the most recent month prior to the Adjustment Date shall be compared with the Index, twelve (12) months immediately preceding. On Adjustment Date, the monthly rent shall be increased by a percentage equal to the percentage increase, if any, in the Index during the previous twelve (12) month period. Notwithstanding any subsequent decrease in the Index, the adjusted Base Rent shall not be less than that paid the immediately preceding year. The adjusted Base Rent amount shall in no case reflect an increase of more than 5% over the amount of the most recent past year rental amount. When the adjusted Base Rent payable on the adjustment date is determined, Lessor shall give Lessee written notice of such adjusted Base Rent and in the manner in which it was computed. If at the Adjustment Date the Consumer Price Index is not of the format as recited in this Section, Lessor shall substitute any such official index as may be published by the Bureau of Labor Statistics, or any successor of similar governmental agency as may then exist or similar governmental agency as may then exist or be most nearly equivalent thereto.
Base Rent Adjustment. In the event the assumed interest rate for the Financing set forth as a part of the Project Costs increases after the Effective Date, then the annual Base Rent shall be immediately, automatically and equitably increased so as to ensure that any and all of the additional cost associated therewith or resulting therefrom is borne by Tenant in the form of increased Base Rent throughout the Term and without any impact to Landlord or its financial return associated with this Lease.
Base Rent Adjustment. In addition to the Base Rent payable by Tenant hereunder, Tenant shall pay to Landlord, as Additional Rent, the Rent Adjustment described in this Section 5.2 without set off or deduction. Until such time as Tenant receives the first Adjustment Statement provided for in clause (C) of this Section 5.2, Tenant shall, commencing on the Commencement Date and on the first day of each and every month thereafter, make the Initial Monthly Rent Adjustment Deposit specified in Article I hereof.
A. For the purposes of this Lease:
Base Rent Adjustment. (a) The BASE RENT (subject to adjustment as set forth in Section 1.08(a) above) payable during the EXTENDED TERM, subject to the provisions of part (b) of this Section 3.03, shall be increased from the BASE RENT payable immediately prior to the first month of the EXTENDED TERM to the then fair market rental rate determined in connection with part (b) of this Section 3.03.
Base Rent Adjustment. See Paragraph 1.3.
Base Rent Adjustment. The Base Rent Adjustment shall be calculated and paid as follows: