Adjustment to Base Rent. The Base Rent, commencing on the first day of the calendar month immediately following the calendar month in which the third anniversary of the Commencement Date occurs ("INITIAL ADJUSTMENT DATE") shall be adjusted in accordance with the provisions of this Section 3.3 and shall, thereafter, be adjusted annually on each anniversary of the Initial Adjustment Date (each date an "ADJUSTMENT DATE") during the balance of the Term (including the First Extended Term and the Second Extended Term, if applicable). Such adjustment to Base Rent shall reflect two-thirds (2/3) of any increase in the Consumer Price Index and shall be calculated as follows: The base for computing the adjustment is the Consumer Price Index (All Items) for Urban Consumers for the San Francisco-Oakland-San Xxxx Metropolitan Area, published by the United States Department of Labor, Bureau of Labor Statistics ("INDEX") which is in effect immediately prior to the second anniversary of the Commencement Date ("BEGINNING INDEX"). The Index published and in effect on the 30th day preceding the Initial Adjustment Date and on the 30th day preceding each Adjustment Date thereafter ("ADJUSTMENT INDEX") is to be used in determining the amount of the increase from one year to the next. Beginning as of the Initial Adjustment Date and continuing on each Adjustment Date thereafter, the Base Rent shall be increased to equal the product achieved by multiplying the initial Base Rent amount by a fraction, the numerator of which shall be an amount equal to the sum of (i) the Beginning Index plus (ii) two-thirds (2/3) of the amount, if any, by which the Adjustment Index is greater than the Beginning Index, and the denominator of which will be the Beginning Index. Notwithstanding the foregoing, the Base Rent shall not be increased by more than six percent (6%) nor less than four percent (4%) of the Base Rent for the immediately preceding year in any one year period. If the Index is changed so that the base year differs from that described above, the Index shall be converted in accordance with the conversion factor published by the United States Department of Labor, Bureau of Labor Statistics. If the Index is discontinued or revised during the Term, such other government index or computation with which it is replaced shall be used in order to obtain substantially the same result as would be obtained if the Index had not been discontinued or revised. On adjustment of the Base Rent as provided in Section 3.3 above, th...
Adjustment to Base Rent. Base Rent will be increased effective on the Escalation Date by the addition thereto of an amount which is the product obtained by multiplying the Minimum Annual Escalation percentage set forth in Section 0.06 by the Base Rent in effect immediately prior to the Escalation Date.
Adjustment to Base Rent. Except as otherwise provided in this section, the Base Rent for the first Lease Year of the Extension Term shall be adjusted at the beginning of the Extension Term to the "fair rental value" of the Premises as determined in the following manner:
Adjustment to Base Rent. Tenant’s annual Base Rent shall adjust from time to time as described in Section 1.1(i)
Adjustment to Base Rent. Monthly payments of Base Rent due under this Lease for the Initial Term shall be increased effective as of the Rent Commencement Date by an amount equal to the monthly amortization obtained when the total amount of the TIW Allowance (defined below) which is used is amortized at an annual interest rate of nine percent (9%) over the Initial Term. Landlord shall provide to Tenant an amortization schedule setting forth the monthly amortization payments and corresponding increases in Base Rent following Landlord’s final accounting of costs applied to the TIW Allowance, which schedule shall be incorporated into this Lease.
Adjustment to Base Rent. Commencing on July 1, 2010 and each July 1 thereafter, Base Rent shall be increased by two percent (2%) of the Base Rent in effect immediately prior to the date of increase. If Tenant exercises any of the options to extend this Lease, Base Rent shall be increased by the same percentages set forth in the Master Lease.
Adjustment to Base Rent. Base Rent as stated in the Basic Lease Information has been calculated on the basis of the following costs to develop the Project (collectively "Project Costs" and individually a "Project Cost"): Interest carry is projected at 9.25% ("Interest Carry") over a carry period of 19 months commencing on the Acquisition Date ("Carry Period"). The time to remediate Hazardous Materials at the Project site is estimated to be 6 months ("Haz Mat Remediation Period"). If (i) an actual Project cost exceeds the amount set forth above, or (ii) the Interest Carry exceeds the rate set forth above, or (iii) the Haz Mat Remediation Period exceeds the period set forth above, the Base Rent as shown on the Basic Lease Information shall be adjusted upwards to achieve an 11% return ("Yield") to the Landlord on two-thirds (2/3) of the increased costs adjusted by carry over the Carry Period extended by any increase in the Haz Mat Remediation Period plus a 5% contingency and a 4% development fee on Shell Costs. The Base Rent calculation includes a 5% vacancy factor and a 1% structural reserve. [For example: If the actual Land Cost increases by $100,000 Base Rent as shown on the Basic Lease Information would be adjusted upwards as follows: $115,708 (cost increased by Interest Carry over Carry Period) $12,727.88 ($115.708 times 11% Yield) $8,485.25 2/3 of increased cost, etc. $.1697 ($8,488.25 divided by 50,000 square feet [actual size to be used] $.1714 ($.1697 divided by 1 minus the structural reserve) $.1804 ($1714 divided by 1 minus the vacancy factor) *$.015 ($.1804 divided by 12) ----------- *Monthly increase in initial Base Rent per square foot.] Base Rent as shown on the Basic Lease Information shall also be increased if Landlord's financial or joint venture on or before the Acquisition Date (defined in Section 37H) requires an investment return in excess of 11%. Not later than ten (10) days after the Acquisition Date, Landlord shall give Tenant written notice of the amount of the investment return in excess of 11% required by Landlord's financial or joint venture partner. In such case, the Base Rent as shown on the Basic Lease Information shall be adjusted upwards to reflect the required return; provided, however, that Tenant, by written notice to Landlord within ten (10) days after receipt of written notice from Landlord of such requirement, may terminate this lease. Upon termination of this Lease, Landlord shall refund to Tenant (A) the Base Rent and Estimated Basic Operatin...
Adjustment to Base Rent. Commencing on the Effective Date, the schedule of Base Rent in Paragraph 1.5.1 of the Lease shall be replaced by the following: Applicable Period Monthly Base Rent March February 1, 2005 to July 31, 2005 $ 85,910.00 August 1, 2005 to July 31, 2006 $ 89,346.40 August 1, 2006 to July 31, 2007 $ 92,920.26 August 1, 2007 to July 31, 2008 $ 96,637.07 August 1, 2008 to July 31, 2009 $ 100,502.55 5. Lender’s Approval. Lessor’s and Lessee’s obligations under this Amendment are conditioned upon receipt by Lessor, on or before April 30th, 2005, of written approval of Aegon (i.e., Lessor’s existing lender) (“Aegon”) of the terms of this Amendment. If on or before April 30th, 2005, Aegon fails to deliver written approval of this Amendment, then the following shall apply:
Adjustment to Base Rent. The Base Rent shall be adjusted on the first anniversary of the Commencement Date and every twelve (12) months thereafter (the "Rental Adjustment Dates"), to reflect any increase in the cost of living from the end of the first year of the term of this Lease or the immediately preceding Rental Adjustment Date for all subsequent adjustments (the "Base Dates"). The adjustment or adjustments, if any, shall be calculated upon the basis of the United States Department of Labor, Bureau of Labor Statistics CONSUMER PRICE INDEX FOR ALL-URBAN CONSUMERS, for San Francisco/Oakland/San Xxxx (1982-1984 = 100), hereafter referred to as the "Index." The applicable Index for each adjustment made under this Section 4.2 shall be the latest published Index as of the applicable Base Date and the applicable Rental Adjustment Date. On each Rental Adjustment Date, the Base Rent then in effect shall be increased by an amount equal to the Base Rent then in effect multiplied by the percentage increase in the Index during the twelve (12) month period between the Base Date immediately preceding such Rental Adjustment Date and such Rental Adjustment Date. When the adjusted Base Rent is determined upon each Rental Adjustment Date, Lessor shall give Lessee written notice to that effect indicating how the new Base Rent figure was computed in accordance with this Section 4.2. If the Index does not exist on any Rental Adjustment Date in the same format as referred to in this paragraph, Lessor shall substitute in lieu thereof an index reasonably comparable to the Index then published by the Bureau of Labor Statistics, or successor or similar governmental agency, or if no governmental agency then publishes an index, Lessor shall substitute therefor any comparable index then published by a reputable private organization.
Adjustment to Base Rent. ☐ Annual Increases: percent ( %) beginning in the Lease Year (Section 5.2) ☐ Fixed Increases: ($ ) per square foot beginning in the Lease Year (Section 5.2) ☐ No Adjustment (Section 5.2) ☐ Other (Special Stipulations – Exhibit D)
