Base Rent Adjustment. (a) The BASE RENT (subject to adjustment as set forth in Section 1.08(a) above) payable during the EXTENDED TERM, subject to the provisions of part (b) of this Section 3.03, shall be increased from the BASE RENT payable immediately prior to the first month of the EXTENDED TERM to the then fair market rental rate determined in connection with part (b) of this Section 3.03.
Base Rent Adjustment. The Base Rent payable hereunder shall be adjusted upward from time to time in accordance with the following provisions:
Base Rent Adjustment. The "Base Rent Adjustment" for each calendar year will equal the product of (a) the Net Rentable Area of the Premises, times (b) a rate per annum per square foot of Net Rentable Area equal to the sum of (i) the excess, if any, of the rate of Operating Costs per square foot of Net Rentable Area in the Building for the applicable calendar year over the Operating Costs Base Rate, (ii) the excess, if any, of the rate of Tax Costs per square foot of Net Rentable Area in the Building for the applicable calendar year over the Tax Costs Base Rate, and (iii) the excess, if any, of the rate of Utilities Costs per square foot of Net Rentable Area in the Building for the applicable calendar year over the Utilities Costs Base Rate. Effective on any change in the Net Rentable Area of the Premises or the Building in accordance with this Lease, the calculation of the Base Rent Adjustment will change accordingly. The Base Rent Adjustment will never lower Base Rent below the amount specified in the Basic Lease Information. Prior to January 1 of each calendar year after the Base Year (or as soon thereafter as reasonably practical), Landlord will provide an estimate of the Base Rent Adjustment for the forthcoming calendar year, and the Monthly Rent Installments due thereafter will be adjusted to reflect the Base Rent Adjustment so estimated by Landlord. By June 1 of each calendar year, or as soon thereafter as reasonably practical, Landlord will furnish to Tenant a statement (the "Annual Statement") showing in reasonable detail the calculation of the Base Rent Adjustment for the immediately preceding calendar year and comparing the actual Base Rent Adjustment to the estimated Base Rent Adjustment actually paid by Tenant. If the estimated Base Rent Adjustment paid is less than the actual Base Rent Adjustment reflected on the Annual Statement, Tenant must pay Landlord the amount of the deficit in a lump sum no later than thirty (30) days after receipt of the Annual Statement. If the estimated Base Rent Adjustment paid is greater than the actual Base Rent Adjustment reflected on the Annual Statement, Landlord will allow Tenant equal monthly credits against the Monthly Rent Installments due for the remainder of the then current calendar year in an aggregate amount equal to the surplus, or if Landlord so chooses, Landlord will pay Tenant the amount of the surplus in a lump sum within thirty (30) days after delivery of the Annual Statement. In calculating any surplus or deficit owe...
Base Rent Adjustment. Service Provider shall, within one hundred twenty (120) days after the end of each Operating Period, furnish Customer with a statement of the Operating Expenses during such year and a computation of the Base Rent Adjustment (“Expense Statement”). Failure of Service Provider to provide such statement within such time period shall not be a waiver of Service Provider’s right to collect any Base Rent Adjustment; provided, however, that notwithstanding any provision contained herein to the contrary, Customer shall have no obligation to pay any amount shown on an Expense Statement unless Customer receives such Expense Statement within one hundred eighty (180) days after the end of the Operating Period to which such Expense Statement applies. If such statement shows that the actual amount Customer owes is more than the estimated Base Rent Adjustment paid by Customer, Customer shall pay the difference to Service Provider within fifteen (15) days after Customer’s receipt of the Expense Statement. If the Expense Statement shows that Customer paid more than the actual amount owed, then, unless otherwise requested by Customer, as provided below, Customer shall receive a credit therefor which shall be applied to the monthly installments of Rent next becoming due under this Service Agreement. Provided, however, that if this Service Agreement has expired, such amount shall be refunded to Customer, and if a credit is due to Customer and this Service Agreement has not expired, then upon Service Provider’s receipt of Customer’s written request, in lieu of providing such credit Service Provider shall refund the amount of such credit to Customer within fifteen (15) days after Service Provider’s receipt of such request. Unless adjusted as a result of an audit by Customer conducted pursuant to the express terms of this Service Agreement, the Operating Expenses and Base Rent Adjustment set forth in the Expense Statement shall be binding upon Customer. Provided, however, that in the event that the Term of this Service Agreement expires, or is terminated pursuant to the terms of this Service Agreement, on a date other than December 31, then, at the option of Service Provider, Service Provider may, either prior to the date on which the Term expires or this Service Agreement is terminated pursuant to the terms of this Service Agreement, or within thirty (30) days thereafter, elect to provide Customer with a revised estimate of the Operating Expenses for the Operating Period in which...
Base Rent Adjustment. Effective as of each annual anniversary of the -------------------- Commencement Date, the Base Rent payable by Tenant for the Premises shall increase to one-hundred four percent (104%) of the Base Rent then in effect for the Premises (without taking into account any temporary rental abatements then in effect).
Base Rent Adjustment. Commencing with the second Lease Year, as hereinafter defined, and at the start of each succeeding Lease Year, the Base Rent shall be increased by an amount equal to the product obtained by multiplying the then applicable annual Base Rent by the sum of (a) one percent (1%), plus (b) the percentage of increase in the Consumer Price Index ("CPI") for December of the prior Lease Year over the CPI for the period ending December 31, 1995. For example, if the Term commences September 1, 1996, the second Lease Year shall begin September 1, 1997 and the CPI comparison applicable to the second Lease Year shall be December 31, 1996 compared to December 31, 1995. The result thus obtained shall thereafter be deemed the Base Rent for such Lease Year, provided, in no event shall the annual Base Rent payable during any Lease Year be less than the annual Base Rent payable during the immediately preceding Lease Year. For purposes of this Lease, the first Lease Year shall be a period of twelve calendar months and shall commence on the first day of the Term. Each succeeding twelve-month period shall be a Lease Year. Notwithstanding the foregoing, in no event shall the total Base Rent, as adjusted, for a Lease Year be more than one hundred and four percent (104%) higher than the adjusted Base Rent for the immediately preceding Lease Year. No base adjustment until 2001 @ 25.63 2002 @ 26.66 [initials]. For purposes of this Lease, the CPI shall mean the twelve (12) month average as of December in any year of the Consumer Price Index for All Urban Consumers (All Items And Commodity Groups-Chicago-Gary-Lake County, IL-IN-WI) (1982-84 = 100), or such other successor or substitute area index as may be applicable to Chicago Metropolitan Area, as appropriately adjusted. If the manner in which the CPI is determined by the Department of Labor shall be substantially revised, and the effect of that revision can be reasonably determined or approximated, an adjustment shall be made in such revised index in order to produce results equivalent, as nearly as possible, to those which would have been obtained if the CPI had not
Base Rent Adjustment. In addition to the Base Rent -------------------- payable by Tenant hereunder, Tenant shall pay to Landlord, as Additional Rent, the Rent Adjustment described in this Section 5.2 without set off or deduction. Until such time as Tenant receives the first Adjustment Statement provided for in clause (C) of this Section 5.2, Tenant shall, commencing on the Commencement Date and on the first (1st) day of each and every month thereafter, make the Initial Monthly Rent Adjustment Deposit specified in Article I hereof.
Base Rent Adjustment. A. Base Rent will be adjusted beginning one year following the Commencement Date (as stated in the Basic Terms) each year thereafter, including any renewal periods, based on the annual percentage change in the Consumer Price Index for All Urban Consumers (“CPI-U”). In no event will the annual adjustment result in Base Rent being less than the amount charged during the prior year or more than 3% above the amount charged during the prior year. The most recent available CPI-U as of first anniversary of the Commencement Date and on an annual basis thereafter for each year of the Term and any renewal terms, calculated over the preceding twelve months, shall be used to adjust the Rent for the next year. The Tenant Improvement Rent shall not be increased by the CPI-U (only the Base Rent).
Base Rent Adjustment. On each anniversary of the Commencement Date the monthly Base Rent shall increase by one hundred dollars ($100.00).
Base Rent Adjustment. The Base Rent Adjustment shall be calculated and paid as follows:
