Determination of Rent Sample Clauses

Determination of Rent. With respect to the determination of the “then prevailing fair market base monthly rent,” the parties shall have thirty (30) days following Landlord’s receipt of the Renewal Notice in which to agree on the prevailing fair monthly rent as of the commencement date of the Renewal Term for the uses permitted hereunder. If the parties agree on such fair market monthly rental value, they shall execute an amendment to this Lease stating the amount of the applicable Basic Monthly Rent. If the parties are unable to agree on such prevailing fair market monthly rent within such thirty (30) day period, then within fifteen (15) days after the expiration of such period each party, at its cost and by giving notice to the other party, shall appoint a real estate appraiser who is a member in good standing of the Appraisal Institute holding an “M.A.I.” designation with at least five years experience appraising similar commercial properties in northern San Diego County to appraise and set the then prevailing fair market monthly rent value at the commencement date of the Renewal Term, in accordance with the standards specified in subparagraph (b)(i)(B). If either party fails to appoint an appraiser within the allotted time, the single appraiser appointed by the other party shall be the sole appraiser. If an appraiser is appointed by each party and the two appraisers so appointed are unable to agree upon such then prevailing fair market monthly rent within thirty (30) days after the appointment of the second appraiser, they shall appoint a third qualified appraiser within ten (10) days after expiration of such thirty (30) day period; if they are unable to agree upon a third appraiser, either party may, upon not less than five days notice to the other party, apply to the Presiding Judge of the San Diego County Superior Court for the appointment of a third qualified appraiser. Each party shall bear its own legal fees in connection with appointment of the third appraiser and shall bear one-half of any other costs of appointment of the third appraiser and of such third appraiser’s fee. The third appraiser, however selected, shall be a person who has not previously acted for either party in any capacity. Within thirty (30) days after the appointment of the third appraiser, the three appraisers shall set the then prevailing fair market monthly rent as of the commencement date of the Renewal Term and shall so notify the parties. If the three appraisers are unable to agree within the ...

Determination of Rent. The Tenant agrees to pay the Landlord and the Landlord agrees to accept, during the term hereof, at such place as the Landlord shall from time to time direct by notice to the Tenant, rent at the following rates and times:

Determination of Rent. 4.1 To determine the Local Market Rent of the Affordable Workspace as follows:- 4.1.1 the Developer shall commission an independent valuer to provide a full written assessment of the Local Market Rent of the Affordable Workspace (such assessment to be prepared within 12 months of the anticipated date of first Occupation (but the valuation shall relate to the anticipated date that such areas will be available for first Occupation)) prepared, subject to any variations required by this Agreement, in line with the RICS Red Book and the conclusions in the assessment will be clearly supported by comparable evidence; and 4.1.2 the assessment produced by the independent valuer shall be submitted to the Council for approval and if approved this figure shall be deemed to be the Local Market Rent. 4.2 In the event that the Council does not accept the figure provided in accordance with paragraph 4.1 above, the Council may commission another valuer to provide a full written assessment of the Local Market Rent of the Affordable Workspace (as at the date that such Affordable Workspace will be available for first Occupation) prepared, subject to any variations required by this Agreement, in line with the RICS Red Book. The Developer shall pay the reasonable and proper costs of the valuer in respect of the operation of this paragraph 4.1. 4.3 If the two figures produced under paragraph 4.1 and 4.2 are:-

Determination of Rent. For the purposes of calculating the Monthly Rent for the Extended Term, the fair market rent shall be equal to the net effective rent per rentable square foot being charged for leases executed within the preceding twelve (12) months for comparable space at either the Project (if any), or if there are none, for comparable space in office and research and development complexes located in the Redwood Shores area or the Menlo Oaks Business Park (located in Menlo Park, California), with terms comparable to the terms contained in this Lease, taking into consideration relevant factors such as the presence or absence of tenant improvement contributions by the lessor (but excluding the value of any tenant improvements paid for by Tenant), and incorporating increases in the Rent during the Extended Term, if appropriate. Any value added to the Premises by the Tenant Improvements and any Alterations paid for by Tenant shall not be considered or included in the determination of the fair market rent. The fair market rent shall be determined by mutual agreement of the parties or, if the parties are unable to agree within forty-five (45) days after Tenant's exercise of the Option to Extend, then fair market rent shall be determined pursuant to the procedure set forth in PARAGRAPHS 4.C. (v) and 4.C. (vi). The determination of the Monthly Rent for the Extended Term for the Premises shall take into account the fact that the Premises shall be leased in its shell condition with a tenant improvement allowance of Ten and 00/100 Dollars ($10.00)per square foot.

Determination of Rent. Lessor shall have plenary authority to administer this Agreement and make determinations of Rent (subject to the FAA Maximum amount) and shall bear the cost of administration of this Agreement and the calculations of Rent required by this Agreement. Lessee shall have the right to inspect and review such determinations from time to time upon request and Lessor will use reasonable commercial efforts to provide to Lessee third-party documentation, wherever practically available, upon Lessee’s written request to substantiate any Rent determinations under this Agreement including the Variable Costs or other recoupable expenses used in such determinations.

Determination of Rent. The fair market rent for the purposes of calculating the Monthly Rent for an Option term shall be determined by mutual agreement of the parties or, if the parties are unable to agree within thirty (30) days after Tenant’s exercise of an Option, then fair market rent shall be determined pursuant to the procedure set forth in Paragraphs 4.B.(v) and 4.B.(vi).

Determination of Rent. For the purposes of calculating the --------------------- Monthly Rent for the Extended Term, the fair market rent shall be equal to the net effective rent per rentable square foot being charged for leases executed within the preceding twelve (12) months for comparable space (in buildings with 2 - 4 stories) at either the Project (if any), or if there are none, for comparable space (in buildings with 2 - 4 stories) in office and research and development complexes located in the Redwood Shores area or the Menlo Oaks Business Park (located in Menlo Park, California), with terms comparable to the terms contained in this Lease, taking into consideration relevant factors such as the presence or absence of tenant improvement contributions by the lessor, and the fact that the Monthly Rent during the Extended Term shall be subject to adjustment under Paragraph 5.B. Any value added to the Premises by the Tenant -------------- Improvements and any Alterations paid for by Tenant shall not be considered or included in the determination of the fair market rent. The fair market rent shall be determined by mutual agreement of the parties or, if the parties are unable to agree within thirty (30) days after Tenant's exercise of an Option, then fair market rent shall be determined pursuant to the procedure set forth in Paragraphs 4.C.(v) and 4.C.(vi). ------------------ --------

Determination of Rent. The Basic Rent for any space leased by Tenant pursuant to the Right of Opportunity, Right of First Refusal (to the extent Tenant does not accept the lease term set forth in the Offer), or Expansion Right shall be equal to the fair market value rent for such space determined as follows: (i) Landlord and Tenant will have fifteen (15) days after Tenant elects to lease such space within which to agree on the fair market rental value of the space as of the estimated commencement date. If they agree on the Basic Rent within such fifteen (15) day period, they will amend the Lease by stating the Basic Rent. (ii) If Landlord and Tenant are unable to agree on the Basic Rent for the space within the fifteen (15) day period set forth in subsection (i) above, the Basic Rent for the space will be equal to the fair market rental value of the space as of the commencement date for such space as determined in accordance with subsection (iii) hereof. As used in this Amendment, the “fair market rental value of the space” means what a landlord under no compulsion to lease the space, and a tenant under no compulsion to lease the space, would determine as Basic Rent (including initial monthly rent and rental increases) for the term of such lease, taking into consideration the uses permitted under the Lease, the quality, size, design and location of the space, and the effective rent (including allowances and other concessions) for comparable office space in the Seattle commercial business district. (iii) Within ten (10) days after the expiration of the fifteen (15) day period set forth in subparagraph (ii) above, Landlord and Tenant shall each appoint one licensed real estate appraiser, and the two appraisers so appointed shall jointly attempt to determine and agree upon the then fair market rental value of the space. If they are unable to agree, then each appraiser so appointed shall set one value, and notify the other appraiser, of the value set by him or her, concurrently with such appraiser’s receipt of the value set by the other appraiser. The two appraisers then shall, together, select a third licensed appraiser, who shall make a determination of the then fair market rental value, after reviewing the reports of the first two appraisers appointed by the parties, and after doing such independent research as he/she deems appropriate. The value determined by the third appraiser shall be the then fair market rental value of the space. Landlord and Tenant shall be responsible for...

Determination of Rent. The Tenant agrees to pay the Landlord and the Landlord agrees to accept, during the Lease Term, at such place as the Landlord shall from time to time direct by notice to the Tenant, rent at the following rates and times: Annual rent for the Lease Term shall be One Dollar ($1.00) each year, due on the month and day of the Commencement Date.