Common use of Determination of Option Rent Clause in Contracts

Determination of Option Rent. In the event Tenant exercises its option to extend but objects to Landlord’s determination of the Option Rent concurrently with its exercise of the option to extend, Landlord and Tenant shall attempt to agree in good faith upon the Option Rent. If Landlord and Tenant fail to reach agreement within thirty (30) days following Tenant’s delivery of the Option Notice (the “Outside Agreement Date”), then Tenant may withdraw its Option Notice and this Lease shall automatically expire and terminate in accordance with its terms.

Determination of Option Rent. In the event Tenant exercises its option to extend but objects to Landlord’s determination of the Option Rent concurrently with its exercise of the option to extend, Landlord and Tenant shall attempt to agree in good faith upon the Option Rent. If Landlord and Tenant fail to reach agreement within thirty twenty (3020) days following Tenant’s delivery of the Option Notice (the “Outside Agreement Date”), then Tenant may withdraw its Tenant’s exercise of the option to extend shall be rescinded and the Third Expansion Space Term shall not be extended for the Option Notice and this Lease shall automatically expire and terminate in accordance with its termsTerm.

Determination of Option Rent. In the event Tenant exercises its option to extend but timely and appropriately objects to Landlord’s determination of the Option Rent concurrently with its exercise of the option to extendRent, Landlord and Tenant shall attempt to agree in good faith upon the Option RentRent using reasonable, good-faith efforts. If Landlord and Tenant fail to reach agreement within thirty (30) days following Tenant’s delivery 's timely and appropriate objection to the Option Rent, then Tenant's exercise of the option to extend shall be deemed rescinded and the Lease Term shall not be extended for the Option Notice (the “Outside Agreement Date”), then Tenant may withdraw its Option Notice and this Lease shall automatically expire and terminate in accordance with its termsTerm.