Renewal Rent Clause Samples

Renewal Rent. Lessee shall promptly pay (or cause to be paid) to Lessor Renewal Rent on each Rent Payment Date during the Renewal Term in the amount determined pursuant to Section 22 hereof).

Renewal Rent. (a) During each Renewal Term, Lessee shall pay to Lessor on each Payment Date, in the manner and in the funds of the type specified in ss. 3.3, Renewal Rent in arrears. (b) The Renewal Rent payable by Lessee on each Payment Date during each Renewal Term shall be the Fixed Rate (or, if less, the Applicable Percentage of the Fair Market Rental Value). Any such Fair Market Rental Value shall be determined not more than 120 days and not less than 100 days before the first day of such Renewal Term by mutual agreement of Lessor and Lessee or, if they do not agree, by an appraisal in accordance with ss. 17.4.

Renewal Rent. (a) During the Renewal Lease Term, Lessee shall pay to Lessor on each Payment Date, in the manner and in the funds of the type specified in Section 3.3, Renewal Rent in arrears. (b) The Renewal Rent payable by Lessee on each Payment Date during any Fixed Renewal Lease Term shall be the lower of (i) the Renewal Rent Limit and (ii) the Fair Market Rental Value of the Aircraft for such Renewal Lease Term. The Renewal Rent payable by Lessee on each Payment Date during any Subsequent Renewal Lease Term shall be the Fair Market Rental Value of the Aircraft for such Renewal Lease Term. Any such Fair Market Rental Value shall be determined not more than 120 days and not less than 100 days prior to the date of commencement of such Renewal Lease Term by mutual agreement of Lessor and Lessee or, if they shall be unable to agree, by an appraisal in accordance with Section 17.4. Notwithstanding the foregoing, (i) on the first Payment Date of a Renewal Term, Lessee shall pay to Lessor a pro-rated amount of Renewal Rent equal to (x) the Renewal Rent applicable to such Renewal Term divided by 180 multiplied by (y) the actual number of days elapsed in such Payment Period and (ii) on the last Payment Date in such Renewal Term Lessee shall pay to Lessor an amount equal to the Renewal Rent minus the amount referred to in the preceding clause (i).

Renewal Rent. (a) During the Renewal Lease Term, Lessee shall pay to Lessor on each Payment Date, in the manner and in the funds of the type specified in Section 3.3, Renewal Rent in advance. (b) The Renewal Rent payable by Lessee on each Payment Date during any Renewal Lease Term shall be the Fair Market Rental Value of the Aircraft for such Renewal Lease Term. Any such Fair Market Rental Value shall be determined not more than 10 Business Days after Lessee gives a Preliminary Notice by mutual agreement of Lessor and Lessee or, if they shall be unable to agree, by an appraisal in accordance with Section 17.4.

Renewal Rent. On each Payment Date during any Renewal Term in effect, if any, Lessee shall pay to Administrative Agent, for the benefit of the Lessors, Renewal Rent under each Lease Supplement to which Lessee is a party, consisting of the amount of Fixed Rent, if any, and Variable Rent determined by Lessors based upon the results of the Appraisal required to be delivered under Section 11.1(a) in connection with Lessee's exercise of its Renewal Option.

Renewal Rent. Lessee shall pay to Lessor on each Rent Payment Date during a Renewal Term, in the manner and place set forth in Section 5.2, rent for the current calendar month calculated in accordance with Schedule 12.2 (“Renewal Rent”).

Renewal Rent. The Basic Rent payable hereunder for the Premises during a Renewal Term (the “First Renewal Rent” or “Second Renewal Rent,” as applicable) shall be equal to ninety-five percent (95%) of the Fair Market Rental Rate (as defined and determined pursuant to Article 33 below) as of the applicable commencement date for such Renewal Term (the “Renewal Term Commencement Date”), provided, however, that in no event shall the Basic Rent payable during a Renewal Term be less than the Base Rent payable hereunder during the twelve month period immediately preceding the commencement of such Renewal Period.

Renewal Rent. For the first year of each Renewal Term, an annual amount equal to the Rent for the Renewal Leased Properties for the applicable Renewal Term which shall be determined in accordance with Section 1.4(b) or Section 41.14, as applicable.

Renewal Rent. All terms and conditions of this Lease shall be applicable during the Renewal Term, except that the Base Year shall be the first calendar year of the Renewal Term and the amount of Rent charged for the Renewal Term shall be the then “Prevailing Market Rent”, which shall be the rent for office space in Comparable Buildings, and parking charges and other charges shall be adjusted to reflect prevailing market conditions. If within sixty (60) days following delivery of Tenant’s notice, Landlord and Tenant have not mutually agreed on the Prevailing Market Rent for the Renewal Term in question, then, within ten (10) days after the expiration of such sixty (60)-day period, each party shall give written notice to the other setting forth the name and address of a Broker (as hereinafter defined) selected by such party who has agreed to act in such capacity, to determine the Prevailing Market Rent. If either party shall fail to select a Broker as aforesaid, the Prevailing Market Rent shall be determined by the Broker selected by the other party. Each Broker shall thereupon independently make his determination of the Prevailing Market Rent within twenty (20) days after the appointment of the second Broker. If the two Brokers’ determinations are not the same, but the higher of such two values is more than one hundred five percent (105%) of the lower of them, then the two Brokers shall jointly appoint a third Broker within ten (10) days after the second of the two determinations described above has been rendered. The third Broker shall choose the determination of one of the two other Brokers to be the Prevailing Market Rent within twenty (20) days after his appointment. Among the factors to be considered by the parties (and their brokers, if applicable) during such negotiations are the general office rental market in the Market Area and the rental rates and concession packages then being quoted by Landlord to comparable tenants for comparable space in the Building, and concessions granted to similar tenants for similar office space in Comparable Buildings. Within thirty (30) days after the Prevailing Market Rent is determined as aforesaid, the parties shall execute an amendment to this Lease setting forth the new Rent to be paid for the Renewal Term. For the purposes of this Addendum, “