Fair Market Rent Definition Sample Clauses

Fair Market Rent Definition. The term “Fair Market Rent” shall mean the effective base rental rates (including periodic adjustments to such base rental rates) then being received for the renewal period of premises of similar size and quality to the Premises, located in similar projects in the Fremont area which are similar in size and quality to the Property, for extension terms of approximately five years, and otherwise subject to leases containing substantially similar terms as those contained in this Lease.
Sample 1
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Fair Market Rent Definition. For purposes of this Lease, “Fair Market Rent” shall mean the base amount of rental which would typically be paid by tenant in an arms-length transaction between unrelated parties for premises of a similar type, design and quality in in the north San Xxxx area, taking into consideration (i) market leasing conditions existing at that time, (ii) Tenant’s obligations to pay additional rent under this Lease and (iii) that there will be no free rent, tenant improvement allowance, brokerage commissions or other concession during the extension terms under this Lease. In determining Fair Market Rent, the appraisers shall appraise the Building as a part office, part high tech manufacturing building with the basic amenities and configuration including labs and clean rooms, as exists on the Effective Date, but the appraisers shall not consider any unique improvements made by Tenant.
Sample 1
Fair Market Rent Definition. For purposes of this Lease, “Fair Market Rent” shall mean the base amount of rental which would typically be paid by tenant in an arms-length transaction between unrelated parties for premises of a similar type, design and quality in in the north San Xxxx area, taking into consideration (i) market leasing conditions existing at that time, (ii) Tenant’s obligations to pay additional rent under this Lease and (iii) that there will be no free rent, tenant improvement allowance, brokerage commissions or other concession during the extension terms under this Lease. In determining Fair Market Rent, the appraisers shall appraise the Building as an office and part high tech manufacturing buildings with the basic amenities and configuration including labs and clean rooms, as exists on the Initial Premises Delivery Date and the A&D Premises Delivery Date (respectively, as to the Initial Premises and the A&D Premises), but the appraisers shall not consider any unique improvements made by Tenant.
Sample 1

Related to Fair Market Rent Definition

  • Rent Defined All monetary obligations of Lessee to Lessor under the terms of this Lease are deemed to be rent.

  • Common Areas - Definition The term "Common Areas" is defined as all areas and facilities outside the Premises and within the exterior boundary line of the Industrial Center that are provided and designated by the Lessor from time to time for the general non-exclusive use of Lessor, Lessee and of other lessees of the Industrial Center and their respective employees, suppliers, shippers, customers and invitees, including parking areas, loading and unloading areas, trash areas, roadways, sidewalks, walkways, parkways, driveways and landscaped areas.

  • Additional Definition Section 1.02 of the Credit Agreement is hereby amended to add thereto in alphabetical order the following definition which shall read in full as follows:

  • Real Property Tax Definition As used herein, the term "REAL PROPERTY TAXES" shall include any form of real estate tax or assessment, general, special, ordinary or extraordinary, and any license fee, commercial rental tax, improvement bond or bonds, levy or tax (other than inheritance, personal income or estate taxes) imposed upon the Industrial Center by any authority having the direct or indirect power to tax, including any city, state or federal government, or any school, agricultural, sanitary, fire, street, drainage, or other improvement district thereof, levied against any legal or equitable interest of Lessor in the Industrial Center or any portion thereof, Lessor's right to rent or other income therefrom, and/or Lessor's business of leasing the Premises. The term "REAL PROPERTY TAXES" shall also include any tax, fee, levy, assessment or charge, or any increase therein, imposed by reason of events occurring, or changes in Applicable Law taking effect, during the term of this Lease, including but not limited to a change in the ownership of the Industrial Center or in the improvements thereon, the execution of this Lease, or any modification, amendment or transfer thereof, and whether or not contemplated by the Parties. In calculating Real Property Taxes for any calendar year, the Real Property Taxes for any real estate tax year shall be included in the calculation of Real Property Taxes for such calendar year based upon the number of days which such calendar year and tax year have in common.

  • Additional Definitions The following terms have the meanings given below:

  • Additional Defined Terms Section 1.01 of the Credit Agreement is hereby further amended and supplemented by adding the following new definitions, which read in their entirety as follows:

  • Revised Definitions For purposes of this Agreement, and notwithstanding anything in Paragraph 2 of the SIFMA Master to the contrary, the following terms shall have the following amended and restated meanings:

  • Special Definitions For purposes of this Article Fourth, the following definitions shall apply:

  • Tax Definitions The following terms, as used herein, have the following meanings:

  • Definition of Prevailing Market For purposes of this Extension Option, “Prevailing Market” shall mean the arms-length, fair-market, annual rental rate per rentable square foot under extension and renewal leases and amendments entered into on or about the date on which the Prevailing Market is being determined hereunder for space comparable to the Premises in the Building and office buildings comparable to the Building in the San Mateo, California area. The determination of Prevailing Market shall take into account any material economic differences between the terms of the Lease and any comparison lease or amendment, such as rent abatements, construction costs and other concessions, and the manner, if any, in which the landlord under any such lease is reimbursed for operating expenses and taxes. The determination of Prevailing Market shall also take into consideration any reasonably anticipated changes in the Prevailing Market rate from the time such Prevailing Market rate is being determined and the time such Prevailing Market rate will become effective under the Lease.

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