Common use of Base Rent Increase Clause in Contracts

Base Rent Increase. Beginning on the first day of the third Lease Year, and continuing annually thereafter, the annual Base Rent per Rentable Square Foot shall be increased by an amount equal to two and one-half percent (2.5%) per Lease Year, cumulative and compounded. During any Renewal Term, the annual Base Rent, commencing in the Second Lease Year and each Lease Year thereafter of such Renewal Term, shall be increased in accordance with the determination of Market Rent as provided in Section 1.2(a).