Base Rent During Extended Term. Lessor and Lessee hereby agree that §51(a) of the Lease, as amended, shall be supplemented to provide the Base Rent for the Extended Term by adding the following two rows to the bottom of the chart displaying the Base Rent Schedule: February 1, 2018 February 1, 2018 – January 31, 2019 126,715 SF x $1.18 SF/NNN $ 149,523.70 February 1, 2019 February 1, 2019 – January 31, 2020 126,715 SF x $1.22 SF/NNN $ 154,592.30
Base Rent During Extended Term. Effective on the Effective Date and through July 31, 2017, the Base Rent for the Premises shall be fourteen thousand four hundred seventy-nine and 34/100 ($14,479.34) per month, NNN. Effective August 1, 2017 through the Expiration Date, as the same may be extended as provided herein (the "Extended Term"), the Base Rent of the Premises shall be thirteen thousand nine hundred eighty-seven and 20/100 ($13,987.20) per month, NNN.
Base Rent During Extended Term. The Base Rent under the Lease during the Extended Term shall be as follows: ----------------------- -------------------------- --------------------------- Months Lease Rate/Month Monthly Base Rent ----------------------- -------------------------- --------------------------- 1-12 $1.40 NNN $134,435 ----------------------- -------------------------- --------------------------- 13-24 $1.45 NNN $139,236.25 ----------------------- -------------------------- --------------------------- 25-36 $1.50 NNN $144,037.50 ----------------------- -------------------------- --------------------------- 37-45 $1.55 NNN $148,838.75 ----------------------- -------------------------- ---------------------------
Base Rent During Extended Term. The Base Rent per gross rentable square ------------------------------ foot to be paid by Tenant during the first year of the Extended Term shall be the greater of (i) the rent immediately in effect during the last year of the Original Term or (ii) ninety-five percent (95%) of the "fair rental value" as defined hereinbelow, of the Premises. Within thirty (30) days following receipt of Tenant's election to extend the term of this Lease, Landlord shall advise Tenant in writing of Landlord's estimate of such fair rental value. If Tenant objects in writing to such estimate within fifteen (15) days after the receipt thereof from Landlord, the fair rental value of the Premises shall be determined as provided in this subsection. In such case, at least sixty (60) days before expiration of the Original Term, Landlord and Tenant shall each designate an appraiser who is a member of the American Institute of Real Estate Appraisers. If the two selected appraisers cannot agree, within 30 days of their appointment on the fair rental value, then, within forty (40) days after selection of the last of the two appraisers, the two appraisers chosen shall select a third appraiser. If a third appraiser is not selected within the time allotted, a third appraiser shall be selected by the American Arbitration Association, the cost of which shall be shared equally by Landlord and Tenant. All appraisal costs shall be shared equally by Landlord and Tenant.
Base Rent During Extended Term. If you exercise an Extended Term option, then you agree to pay to Landlord monthly base rent for the Premises, in advance, without demand, deduction or set off, for such Extended Term at an initial rate equal to 95% of Market Rent with annual market rate escalation specified as part of the determination of Market Rent.
Base Rent During Extended Term. Subject to the last sentence of the definition of Market Rent, if you exercised an Extended Term option, then you agree to pay to Landlord monthly base rent for the Premises at an initial rate equal to Market Rent. On each Adjustment Date falling within the Extended Term beginning with the Adjustment Date corresponding to the first day of the second Lease Year of the Extended Term, the monthly base rent amount shall increase in accordance with the fixed rate increases (based on market at the time) specified in Landlord's determination of Market Rent.
Base Rent During Extended Term. If Lessee elects to extend the ------------------------------ Lease term pursuant to Section 1.3(d) of this Addendum, the Base Rent payable by Lessee for the Extended Term shall be in an amount equal to the fair market rental value of the Premises in relation to market conditions at the time of the commencement of the Extended Term (including, but not limited to, rental rates for comparable space within a six mile radius of the Premises with comparable tenant improvements and taking into consideration any adjustments to rent based upon direct costs (operating expenses) and taxes, load factors, and/or cost of living or other rental adjustments, the relative strength of the tenants; the size of the space; rental concessions and tenant improvement allowances then being offered for other space (Lessee hereby acknowledging that Lessor is not obligated to provide an improvement allowance for the Extended Term), and any other factors which affect market rental values at the time of the commencement of the Extended Term, but without taking into consideration to the value of any leasehold improvements installed in the Premises by Lessee at Lessee's sole cost); however, the Base Rent payable during the Extended Term shall in no event be lower than the Base Rent payable during the month immediately prior to the commencement of the Extended Term.
Base Rent During Extended Term. The monthly Base Rent for an Extended Term shall be Fair Rental Value of the Premises. "
Base Rent During Extended Term. Effective December 21, 1996, the monthly Base Rent during the Extended Term is $31,972.80, which includes during the Extended Term the cost for the 100 parking spaces provided in section 2.2 of the Lease and section 54 of said Addendum to Lease. Monthly Base Rent for any partial month shall be prorated on a daily basis. 4. Parking. During the Extended Term, Lessee shall continue to have right to use 90 spaces at the so called "Church" parking lot and 10 spaces at the Xxxxxxxx parking lot fronting on San Xxxxx Street, as provided in section 54 of said Addendum to Lease, or in each case at another parking location within the radius set forth in section 54 of said Addendum to Lease; however such other location does not have to be in a facility controlled by Xxxxxxxx. The third paragraph (regarding Lessee option to lease up to 30 additional spaces) of section 54 of said Addendum to Lease is of no further force or effect. Neither Lessee nor any of its officers, employees, agents, students or invitees shall have any right to park without cost at the Office Building Project. Notwithstanding the deletion of Lessee's option to purchase up to 30 additional parking spaces under the third paragraph of section 54 of said Addendum, Lessor agrees to cooperate in good faith with Lessee in connection with Lessee's efforts to lease up to thirty (30) additional parking spaces at any parking facility within a two (2) block radius of the Building; provided, however, that (i) Lessee acknowledges and agrees that providing or obtaining all or any portion of such additional spaces is not an obligation of Lessor nor a condition to the performance of any obligation of Lessee, (ii) if all or any number of such additional spaces are made available to Lessee, Lessee shall be solely responsible for all costs and expenses for such additional spaces, and (iii) if all or any number of such additional spaces are made available, it may be done on terms and conditions acceptable to Lessor in its good faith but sole and absolute discretion and there is no agreement, guaranty, warranty or requirement that such additional space will be available throughout the term of the Lease, as extended hereby.
Base Rent During Extended Term. If you exercised an Extended Term option, then you agree to pay to Landlord monthly base rent for the Premises, in advance, without demand, deduction or set off, for the entire Extended Term hereof at an initial rate equal to 95% of Market Rent, or if greater, at an initial rate equal to 103% of the monthly base rent amount in the last Lease Year of the expiring term. On each Adjustment Date falling within the Extended Term beginning with the Adjustment Date corresponding to the first day of the second Lease Year of the Extended Term, the monthly base rent amount shall increase in accordance with the annual escalations specified as part of the determination of Market Rent.
