Determination of Option Rent Sample Clauses

Determination of Option Rent. In the event Tenant timely and appropriately exercises an option to extend the Lease Term, Landlord shall notify Tenant of Landlord’s determination of the Option Rent within thirty (30) days thereafter. If Tenant, on or before the date which is ten (10) days following the date upon which Tenant receives Landlord’s determination of the Option Rent, in good faith objects to Landlord’s determination of the Option Rent, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent (the “Outside Agreement Date”), then Tenant shall have the right to withdraw its exercise of the option by delivering written notice thereof to Landlord within five (5) days thereafter, in which event Tenant’s right to extend the Lease pursuant to this Section 2.2 shall be of no further force or effect. If Tenant does not withdraw its exercise of the extension option, each party shall make a separate determination of the Option Rent, as the case may be, within ten (10) days after the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 2.2.3.1 through 2.2.3.7, below. If Tenant fails to object to Landlord’s determination of the Option Rent within the time period set forth herein, then Tenant shall be deemed to have objected to Landlord’s determination of Option Rent.
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Determination of Option Rent. If Tenant timely and ---------------------------- appropriately objects to the Option Rent in Tenant's Acceptance, Landlord and Tenant shall attempt to agree upon the Market Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within twenty-one (21) days following Tenant's Acceptance ("OUTSIDE AGREEMENT DATE"), then each party shall make a separate determination of the Market Rent which shall be submitted to each other and to arbitration in accordance with the following items (i) through (vii):
Determination of Option Rent. If Tenant timely and appropriately objects in its Exercise Notice to Landlord to the Fair Market Rental Rate for the Option Term initially determined by Landlord, then Landlord and Tenant shall attempt in good faith to agree upon the Fair Market Rental Rate. If Landlord and Tenant fail to reach agreement within ten (10) business days following Tenant's delivery of such Exercise Notice (the "Outside Agreement Date"), then each party shall submit to the other party a separate written determination of the Fair Market Rental Rate within fifteen (15) business days after the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with the provisions of Sections 4.1 through 4.7 below. The failure of Tenant or Landlord to submit a written determination of the Fair Market Rental Rate within such fifteen (15) business day period shall conclusively be deemed to be such party's approval of the Fair Market Rental Rate submitted within such fifteen (15) business day period by the other party
Determination of Option Rent. In the event Lessee timely and ----------------------------- objects in writing to the Option Rent (or First Offer Rent, as the case may be) initially determined by Lessor and based on ninety-five percent (95%) of the then Fair Market Value for comparable space on comparable buildings located in Pasadena, California, Lessor and Lessee shall attempt to agree upon the Option Rent (or First Offer Rent, as the case may be), using their best good-faith efforts. If Lessor and Lessee fail to reach agreement within twenty (b) dave following Lessee's objection to the Option Rent( or First Offer Rent, as the case may be) (the "Outside Agreement Date"), then each party shall submit to tine other party a separate written determination of the Option Rent (or First Offer Rent, as the case may be) within ten (10) business days after the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with the provisions herein. Failure of Lessee or Lessor to submit a written determination of the Option Rent (or First Offer Rent, as the case may be) within such ten (10) business day period shall conclusively be deemed to be the non-determining party's approval of the Option Rent (or First Offer Rent, as the case may be) submitted within such ten (10) business day period by the other party.
Determination of Option Rent. If Tenant fails to timely and appropriately object to Option Rent or First Offer Rent, then the Option Rent or First Offer Rent shall be as set forth in the Option Rent Notice or First Offer Rent Notice, as the case may be. If Tenant timely and appropriately objects to the Option Rent or First Offer Rent, Landlord and Tenant shall attempt to agree upon the applicable Fair Market Rental Value using their best good-faith efforts. If Landlord and Tenant fail to reach agreement within ten (10) days following Tenant’s objection to the Option Rent or First Offer Rent, as applicable (the “Outside Agreement Date”), then each party shall make a separate determination of the applicable Fair Market Rental Value (the “Arbitration Fair Market Rental Value(s)”), within fifteen (15) days following the Outside Agreement Date and such determinations shall be submitted to arbitration in accordance with Sections 2.3.4.1 through 2.3.4.7, below.
Determination of Option Rent. If Tenant timely and appropriately objects to the Option Rent in Tenant's acceptance, Landlord and Tenant shall attempt to agree upon the Option Rent using good-faith efforts. If Landlord and Tenant fail to reach agreement within thirty (30) days following Tenant's acceptance ("Outside Agreement Date"), then each party shall make a separate determination of the Option Rent which shall be submitted to each other and to arbitration in accordance with the following Sections 2.M.iii(A) through 2.M.iii(G); provided, however, if the lower determination is within five percent (5%) of the higher determination, the Option Rent shall be the average of the two (2) determinations, without any further proceedings or determination:
Determination of Option Rent. In the event Tenant timely and appropriately exercises its option to extend the Lease but rejects (or is deemed to have rejected) the Option Rent set forth in the Option Rent Notice pursuant to Section 2(c)(ii), above, then Landlord and Tenant shall attempt to agree upon the Option Rent using their best good-faith efforts. If Landlord and Tenant fail to reach agreement upon the Option Rent applicable to the Option Term on or before the date that is ninety (90) days prior to the expiration of the initial Lease Term (the "Outside Agreement Date"), then the Option Rent shall be determined by arbitration pursuant to the terms of this Section 2(c)(iii). Each party shall make a separate determination of the Option Rent (each, the "Submitted Option Rent"), within five (5) days following the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Section 2(c)(iii)(A) through (D), below.
Determination of Option Rent. In the event Tenant timely and appropriately objects to or does not accept the Option Rent, Landlord and Tenant shall attempt to agree upon the Fair Market Rental Rate for the Premises, using reasonable good-faith efforts. If Landlord and Tenant fail to reach agreement within thirty (30) days following Tenant's objection or deemed objection to the Option Rent (the "OUTSIDE AGREEMENT DATE"), then the applicable Fair Market Rental Rate submitted by each of the parties within ten (10) days following the Outside Agreement Date, shall be submitted to the arbitrators pursuant to the provisions of this Section 2.2.4 such submittal shall be submitted to arbitration in accordance with Sections 2.2.4.1 through 2.2.4.7 of this Lease, but subject to the conditions, when appropriate, of Section 2.2.2 and 2.2.3.
Determination of Option Rent. Landlord and Tenant shall each make a separate determination of the subject Option Rent and deliver notice thereof to the other within ten (10) business days after the Tenant Outside Agreement Date or the Landlord Outside Agreement Date, as the case may be. In the event the subject Option Rent submitted by Landlord is less than or equal to one hundred five percent (105%) of the subject Option Rent submitted by Tenant, the subject Option Rent shall be the average of the two such determinations. In all other cases, such determinations shall be submitted for final determination in accordance with this Section 27.4 below. The failure of Tenant to make a determination and submittal of the Option Rent within such ten (10) business day period shall conclusively be deemed Tenant's approval of the subject Option Rent as determined by Landlord.
Determination of Option Rent. If Landlord and Tenant fail to reach agreement (i) with regard to the Option Rent by the Outside Agreement Date, then each party shall make a separate determination of the Option Rent within five (5) Business Days after the Outside Agreement Date, and such determinations shall be submitted to arbitration in accordance with Sections 3.4.4.1 through 3.4.4.7 below.