Common use of Increase in Base Rent Clause in Contracts

Increase in Base Rent. [1] In the event that the ownership of the leased Property is conveyed to the LRA during the Term or a Renewal Term of this Sublease, as defined in Section 6 hereof, the Base Rent shall be increased by the LRA on a per square foot basis per annum to reflect any acquisition costs required by the Government with respect to the Leased Property to the paid to the Government by the LRA; provided, however, the LRA shall use its reasonable best efforts to obtain in a no cost economic development conveyance of the Leased Property from the Government. Such increase in Base Rent shall be effective as of the date of the LRA's acquisition of the Leased Property. [2] The Base Rate beginning in 1998 may be increased by the LRA on a per square foot basis per annum to reflect the loss of Base Rent, as set forth in Subsection A hereof, as a result of UDLP's vacating of Building F, G and L which loss of Base Rent is not offset by replacement tenant Base Rent; provided, however, the adjustment Base Rent may not exceed the following amounts per annum: YEAR ANNUAL CEILING PER SQUARE FOOT ---- ------------------------------ 1998 $2.40 1999 3.07 2000 3.07