Common use of Fair Market Rental Rate Clause in Contracts

Fair Market Rental Rate. The phrase “Fair Market Rental Rate” shall mean the fair market value annual rental rate per square foot of Rentable Area that Landlord and its Affiliates and the owners of comparable office building projects in the Xxxx Xxxxx Airport submarket have recently accepted in lease transactions between non-affiliated parties with non-equity tenants for comparable space, for a comparable period of time (“Comparable Transactions”). In any determination of Comparable Transactions, appropriate consideration shall be given to annual rental rates per square foot of Rentable Area, the type of escalation clauses (e.g., whether increases in additional rent are determined on a net or gross basis, and if gross, whether such increases are determined according to a base year or a base dollar amount expense stop), taking into account all rental and other concessions granted in such Comparable Transactions (as well as such concessions to which Tenant may be entitled in this Lease), length of the lease term, size and location of premises being leased, base, shell and core delivery conditions, building standard work letter and/or tenant improvement or refurbishment allowances, if any (taking into account the level of existing Base Building Improvements and tenant improvements in the Premises), free rent periods for construction of new tenant improvements and other generally applicable conditions of tenancy for such Comparable Transactions. The intent is that the Fair Market Rental Rate will reflect the rent and other economic benefits and concessions that Landlord or its Affiliates (and other landlords of comparable office building projects in the Xxxx Xxxxx Airport submarket) have otherwise given in recent Comparable Transactions, as adjusted to reflect the level and type of economic concessions that Landlord may elect to give Tenant hereunder during the Renewal Term, so that Tenant will pay and Landlord will receive a net effective rent equal to the net effective rental rate in Comparable Transactions, after adjusting for any differences between the economic concessions that Landlord is making to Tenant hereunder and the economic concession that Landlord or its Affiliates (and other landlords of comparable office building projects in the Xxxx Xxxxx Airport submarket) have otherwise made in current Comparable Transactions. If, for example, after applying the criteria set forth above, a Comparable Transaction provides a comparable non-equity tenant with comparable space at a base rent equal to Thirty-Two Dollars ($32) per square foot of Rentable Area, with a Ten Dollars ($10) base amount expense stop, three (3) months’ free rent, four (4) months of free rent to construct tenant improvements, Forty Dollars ($40) per rentable square foot tenant improvement allowance, and certain other generally applicable economic terms and/or concessions, the Fair Market Rental Rate shall not be Thirty-Two Dollars ($32) per square foot of Rentable Area only, but shall be the economic equivalent of Thirty-Two Dollars ($32) per square foot of Rentable Area, a Ten Dollar ($10) base amount expense stop, three (3) months’ free rent, four (4) months of free rent to construct tenant improvements, Forty Dollars ($40) per rentable square foot tenant improvement allowance or payment in lieu of such allowance (said allowance or payment to be adjusted to reflect the value of existing improvements in the Premises) and such other generally applicable economic terms and concessions, as adjusted to reflect the concessions (including renovation allowances, free rent or construction periods) if any, granted by Landlord to Tenant during the Renewal Term.

Fair Market Rental Rate. The phrase For the purposes of this Exhibit D the term “Fair Market Rental Rate” shall mean the fair market value annual rental rate amount per rentable square foot of Rentable Area that Landlord and its Affiliates and the owners of comparable office building projects in the Xxxx Xxxxx Airport submarket have recently has accepted in lease current transactions between non-affiliated parties with from new, non-expansion (unless the expansion is pursuant to a comparable definition of Fair Market Rental Rate), non-renewal (unless the renewal is pursuant to a comparable definition of Fair Market Rental Rate) and non-equity tenants of comparable credit-worthiness, for comparable spacespace (size and height), for a comparable use for a comparable period of time (“Comparable Transactions”)) in the Building, or to the extent there are not a sufficient number of Comparable Transactions in the Building, then Comparable Transactions will also include what a comparable landlord of a Comparable Building with comparable vacancy factors would accept in Comparable Transactions. “Comparable Buildings” shall be buildings of comparable size and vintage and construction in the Brentwood and Cool Springs Submarkets of Nashville, Tennessee. In any determination of Comparable Transactions, Transactions appropriate consideration shall be given to the annual rental rates per rentable square foot foot, the standard of Rentable Areameasurement by which the rentable square footage is measured, the ratio of rentable square feet to usable square feet, the type of escalation clauses clause (e.g., whether increases in additional rent are determined on a net or gross basis, and if grossand, whether such increases are determined according to a base year or a base dollar amount expense stop), taking into account all rental the extent of Tenant’s liability under the Lease, parking rights and other concessions granted obligations, signage rights, abatement provisions reflecting free rent and/or no rent during the period of construction or subsequent to the commencement date as to the space in such Comparable Transactions (as well as such concessions to question, brokerage commissions, if any, which Tenant may would be entitled payable by Landlord in this Lease)similar transactions, length of the lease term, size and location of premises being leased, base, shell and core delivery conditions, building standard work letter and/or tenant improvement or refurbishment allowances, if any (taking into account any, the level condition of the base building and the Landlord’s responsibility with respect thereto, the value, if any, of the existing Base Building Improvements and tenant improvements in (with such value being judged with respect to the Premises), free rent periods for construction utility of new such existing tenant improvements to the general business office user and not this particular Tenant) and other generally applicable conditions of tenancy for such Comparable Transactions. The intent is that Tenant will obtain the same rent and other economic benefits that Landlord would otherwise give in Comparable Transactions and that Landlord will make, and receive the same economic payments and concessions that Landlord would otherwise make, and receive in Comparable Transactions. Landlord shall determine the Fair Market Rental Rate will reflect by using its good faith judgment. Landlord shall provide written notice of such amount within fifteen (15) days (but in no event later than twenty (20) days) after Tenant provides the rent and other economic benefits and concessions that notice to Landlord or exercising Tenant’s option rights which require a calculation of the Fair Market Rental Rate. Tenant shall have thirty (30) days (“Tenant’s Review Period”) after receipt of Landlord’s notice of the new rental within which to accept such rental in writing. Failure of Tenant to so elect in writing within Tenant’s Review Period shall conclusively be deemed its Affiliates (and other landlords disapproval of comparable office building projects in the Xxxx Xxxxx Airport submarket) have otherwise given in recent Comparable Transactions, as adjusted to reflect the level and type of economic concessions that Landlord may elect to give Tenant hereunder during the Renewal Term, so that Tenant will pay and Landlord will receive a net effective rent equal to the net effective rental rate in Comparable Transactions, after adjusting for any differences between the economic concessions that Landlord is making to Tenant hereunder and the economic concession that Landlord or its Affiliates (and other landlords of comparable office building projects in the Xxxx Xxxxx Airport submarket) have otherwise made in current Comparable Transactions. If, for example, after applying the criteria set forth above, a Comparable Transaction provides a comparable non-equity tenant with comparable space at a base rent equal to Thirty-Two Dollars ($32) per square foot of Rentable Area, with a Ten Dollars ($10) base amount expense stop, three (3) months’ free rent, four (4) months of free rent to construct tenant improvements, Forty Dollars ($40) per rentable square foot tenant improvement allowance, and certain other generally applicable economic terms and/or concessions, the Fair Market Rental Rate determined by Landlord. In the event Tenant fails to accept the new rental proposed by Landlord, Landlord and Tenant shall not be Thirty-Two Dollars attempt to agree upon such Fair Market Rental Rate, using their best good faith efforts. If Landlord and Tenant fail to reach agreement within fifteen ($3215) per square foot of Rentable Area onlydays following Tenant’s Review Period (“Outside Agreement Date”), but then each party shall place in a separate sealed envelope their final proposal as to Fair Market Rental Rate and such determination shall be submitted to arbitration in accordance with subsections (a) through (e) below. In the economic equivalent event that Landlord fails to timely generate the initial written notice of Thirty-Two Dollars Landlord’s opinion of the Fair Market Rental Rate which triggers the negotiation period of this section, then Tenant may commence such negotiations by providing the initial notice, in which event Landlord shall have fifteen ($3215) per square foot days (“Landlord’s Review Period”) after receipt of Rentable AreaTenant’s notice of the new rental within which to accept such rental. In the event Landlord fails to accept in writing such rental proposed by Tenant, a Ten Dollar then such proposal shall be deemed rejected, and Landlord and Tenant shall attempt in good faith to agree upon such Fair Market Rental Rate, using their best good faith efforts. If Landlord and Tenant fail to reach agreement within fifteen ($1015) base amount expense stopdays following Landlord’s Review Period (which shall be, three (3) months’ free rentin such event, four (4) months of free rent to construct tenant improvements, Forty Dollars ($40) per rentable square foot tenant improvement allowance or payment the “Outside Agreement Date” in lieu of the above definition of such allowance (said allowance or payment date), then each party shall place in a separate sealed envelope their final proposal as to be adjusted to reflect the value of existing improvements in the Premises) Fair Market Rental Rate and such other generally applicable economic terms and concessions, as adjusted determination shall be submitted to reflect the concessions arbitration in accordance with subsections (including renovation allowances, free rent or construction periodsa) if any, granted by Landlord to Tenant during the Renewal Termthrough (e) below.

Fair Market Rental Rate. The phrase “Fair Market Rental Rate” shall mean the fair market value annual rental rate per square foot of Rentable Area that which Landlord and its Affiliates and the owners other landlords leasing space of comparable type, size, level of improvement, quality and floor height in first class office building projects buildings comparably located would obtain, at or about the time of the determination of the Fair Market Rental Rate, from any prospective tenant for general office use of such space. Fair Market Rental Rate shall take into account the value of any rent or equivalent economic concessions then usually and customarily given in connection with the Xxxx Xxxxx Airport submarket have recently accepted in lease transactions between non-affiliated parties with non-equity tenants for leasing of such comparable space, space for a comparable period lease term including such items as the amount and quality of time (“Comparable Transactions”). In any determination of Comparable Transactionsexisting or new tenant improvements provided by the landlord, appropriate consideration shall be given to annual rental rates per square foot of Rentable Area, the type of escalation clauses (e.g., whether increases in additional rent are determined on a net or gross basis, and if gross, whether such increases are determined according to a base year or a base dollar amount expense stop), taking into account all rental and other concessions granted in such Comparable Transactions (as well as such concessions to which Tenant may be entitled in this Lease), length of the lease term, size and location of premises being leased, base, shell and core delivery conditions, building standard work letter and/or tenant improvement or refurbishment allowances, if any allowances (taking into account the level of existing Base Building Improvements and tenant improvements which, in the Premises), free rent periods for construction of new tenant improvements and other generally applicable conditions of tenancy for such Comparable Transactions. The intent is that determining the Fair Market Rental Rate will reflect the rent and other economic benefits and concessions that Landlord or its Affiliates (and other landlords of comparable office building projects in the Xxxx Xxxxx Airport submarket) have otherwise given in recent Comparable Transactions, as adjusted to reflect the level and type of economic concessions that Landlord may elect to give Tenant hereunder during for the Renewal Term, so that shall be deemed suitable for Tenant, but Tenant will pay shall be entitled to repair and Landlord will receive a net effective rent equal refurbishment of such existing tenant improvements to the net effective rental rate extent such repair or refurbishment is available in Comparable Transactions, after adjusting for any differences between the economic concessions that Landlord is making to Tenant hereunder comparable transactions and the economic concession that Landlord Premises require the same), free rent and the level of any escalation base or its Affiliates (and other landlords “stop” for such comparable space, but excluding brokerage commission obligations. Solely as an example to illustrate the operation of this Section 2.4, if comparable office building projects space leases in the Xxxx Xxxxx Airport submarketProject (or in comparable buildings for similar space) have otherwise made in current Comparable Transactions. If, give a tenant space for example, after applying the criteria set forth above, a Comparable Transaction provides a comparable non-equity tenant with comparable space at a base rent equal to Thirty-Two Dollars ($32) 40.00 per square foot of Rentable Area, with a Ten Dollars ($10) 6.00 per square foot tax and operating expense base amount expense stopamount, three (3) months’ free rent, give four (4) months free rent, and an allowance of free rent to construct tenant improvements, Forty Dollars ($40) 40.00 per rentable square foot of Usable Area for tenant improvement allowanceimprovements in unimproved space, and certain other generally applicable economic terms and/or concessionsif the space has not been improved previously for occupancy, the Fair Market Rental Rate shall not be Thirty-Two Dollars ($32) 40.00 per square foot of Rentable Area only, but but, after taking into account any of such concessions to which Tenant is entitled under this Lease, shall be also account for the economic equivalent value of Thirty-Two Dollars (the $32) 6.00 per square foot of Rentable Area, a Ten Dollar ($10) tax and operating expense base amount expense stop, three (3) months’ free rentamount, four (4) months of free rent to construct tenant improvements, Forty Dollars (and $40) 40.00 per rentable square foot of Usable Area tenant improvement allowance or payment in lieu of such allowance (said allowance or payment to be adjusted to reflect the value of existing improvements in the Premises) and such other generally applicable economic terms and concessions, as adjusted to reflect the concessions (including renovation allowances, free rent or construction periods) if any, granted by Landlord to Tenant during the Renewal Termallowance.

Fair Market Rental Rate. The phrase For the purposes of the Lease the term “Fair Market Rental Rate” shall mean the fair market value annual rental rate amount per rentable square foot of Rentable Area that Landlord and its Affiliates and the owners of comparable office building projects in the Xxxx Xxxxx Airport submarket have recently Lessor has accepted in lease current transactions between non-affiliated parties with from new, non-expansion, non-renewal and non-equity tenants lessees of comparable credit-worthiness, for comparable space, for a comparable use for a comparable period of time (“Comparable Transactions”)) in the Building, or if there are not a sufficient number of Comparable Transactions in the Building, what a comparable lessor of a comparable building with comparable vacancy factors would accept in a Comparable Transaction. In any determination of Comparable Transactions, Transactions appropriate consideration shall be given to the annual rental rates per rentable square foot foot, the standard of Rentable Areameasurement by which the rentable square footage is measured, the ratio of rentable square feet to usable square feet, the type of escalation clauses clause (e.g., whether increases in additional rent are determined on a net or gross basis, and if gross, whether such increases are determined according to a base year or a base dollar amount an expense stop), taking into account all rental and the extent of Lessee’s liability under the Lease, abatement provisions reflecting free rent and/or no rent during the period of construction or any other concessions granted period during the lease term, brokerage commissions, if any, which would be payable by Lessor in such Comparable Transactions (as well as such concessions to which Tenant may be entitled in this Lease)similar transactions, length of the lease term, size and location of premises being leased, base, shell and core delivery conditions, building standard work letter teller and/or tenant lessee improvement or refurbishment allowances, if any (taking into account the level of existing Base Building Improvements and tenant improvements in the Premises)any, free rent periods for construction of new tenant improvements and other generally applicable conditions of tenancy for such Comparable Transactions. The intent is that Lessee will obtain the same rent and other economic benefits that Lessor would otherwise give in a Comparable Transaction and that Lessor will make, and receive the same economic payments and concessions that Lessor would otherwise make, and receive in a Comparable Transaction. Lessor shall initially determine the Fair Market Rental Rate will reflect the rent and other economic benefits and concessions that Landlord or by using its Affiliates (and other landlords good faith judgment. Lessor shall provide its written notice of comparable office building projects in the Xxxx Xxxxx Airport submarket) have otherwise given in recent Comparable Transactions, as adjusted to reflect the level and type of economic concessions that Landlord may elect to give Tenant hereunder during the Renewal Term, so that Tenant will pay and Landlord will receive a net effective rent equal to the net effective rental rate in Comparable Transactions, after adjusting for any differences between the economic concessions that Landlord is making to Tenant hereunder and the economic concession that Landlord or its Affiliates (and other landlords of comparable office building projects in the Xxxx Xxxxx Airport submarket) have otherwise made in current Comparable Transactions. If, for example, after applying the criteria set forth above, a Comparable Transaction provides a comparable non-equity tenant with comparable space at a base rent equal to Thirty-Two Dollars ($32) per square foot of Rentable Area, with a Ten Dollars ($10) base amount expense stop, three (3) months’ free rent, four (4) months of free rent to construct tenant improvements, Forty Dollars ($40) per rentable square foot tenant improvement allowance, and certain other generally applicable economic terms and/or concessions, the Fair Market Rental Rate within thirty (30) days after Lessee provides the notice to Lessor exercising Lessee’s option rights which require a calculation of the Fair Market Rental Rate. Lessee shall not be Thirty-Two Dollars have fifteen ($3215) per square foot days (“Lessee’s Review Period”) after receipt of Rentable Area only, but Lessor’s notice of the Fair Market Rental Rate within which to accept or reject such rental rate. In the event Lessee fails to accept in writing such rental proposed by Lessor then such proposal shall be deemed rejected, and Lessor and Lessee shall attempt to agree upon such Fair Market Rental Rate, using their best good faith efforts. If Lessor and Lessee fail to reach agreement within fifteen (15) days following Lessee’s Review Period (“Outside Agreement Date”), then each party shall place in a separate sealed envelope its final proposal as to the economic equivalent appropriate Fair Market Rental Rate and such determination shall be submitted to arbitration in accordance with subsections (a) through (e) below. In the event that Lessor fails to timely generate the initial written notice of Thirty-Two Dollars Lessor’s proposed Fair Market Rental Rate which triggers the negotiation period of this Addendum Provision, then Lessee may commence such negotiations by providing the initial notice, in which event Lessor shall have fifteen ($3215) per square foot days (“Lessors Review Period”) after receipt of Rentable AreaLessee’s notice of the proposed rental within which to accept such rental. In the event Lessor fails to accept in writing such rental proposed by Lessee, a Ten Dollar then such proposal shall be deemed rejected, and Lessor and Lessee shall attempt in good faith to agree upon such Fair Market Rental Rate, using their best good faith efforts. If Lessor and Lessee fail to reach agreement within fifteen ($1015) base amount expense stopdays following Lessors Review Period (which shall be, three (3) months’ free rentin such event, four (4) months of free rent to construct tenant improvements, Forty Dollars ($40) per rentable square foot tenant improvement allowance or payment the “Outside Agreement Date” in lieu of the above definition of such allowance (said allowance or payment date), then each party shall place in a separate sealed envelope its final proposal as to be adjusted to reflect the value of existing improvements in the Premises) Fair Market Rental Rate and such other generally applicable economic terms and concessions, as adjusted determination shall be submitted to reflect the concessions arbitration in accordance with subsections (including renovation allowances, free rent or construction periodsa) if any, granted by Landlord to Tenant during the Renewal Termthrough (e) below.

Fair Market Rental Rate. The phrase For the purposes of this Exhibit “J” the term “Fair Market Rental Rate” shall mean the fair market value annual effective rent per rental rate per square foot foot, plus annual percentage increases therein, that landlords of Rentable Area that Landlord and its Affiliates and the owners of comparable office building projects in the Xxxx Xxxxx Airport submarket Comparable Buildings (as defined below) have recently accepted in lease current transactions (i.e., if available, those transactions where the essential economic terms and conditions were agreed upon six to twelve (6 to 12) months prior to Tenant’s exercise of the applicable Extension Period or such other then most recent transactions as are available for comparison) between non-affiliated parties with from new, non-equity expansion (unless the expansion is pursuant to a comparable definition of Fair Market Rental Rate), non‑renewal (unless the renewal is pursuant to a comparable definition of Fair Market Rental Rate), and non‑equity tenants of comparable credit-worthiness, for Comparable Buildings with comparable spacespace (size), for a comparable use and for a comparable period of time (“Comparable Transactions”). “Comparable Buildings” shall be buildings of comparable size (including floor height), quality, vintage and construction in Downtown Long Beach. In any determination of Comparable Transactions, appropriate consideration shall be given to the annual rental rates per rentable square foot foot, the standard of Rentable Areameasurement by which the rentable square footage is measured, the ratio of rentable square feet to usable square feet, the type of escalation clauses clause (e.g., whether increases in additional rent are determined on a net or gross basis, and if gross, whether such increases are determined according to a base year or a base dollar amount expense stop), taking into account all rental and other concessions granted in such Comparable Transactions (as well as such concessions to which Tenant may be entitled in the extent of Tenant’s liability under this Lease), parking rights (and costs therefor) and obligations, signage rights, abatement provisions reflecting free rent and/or no rent during the period of construction or subsequent to the commencement date as to the space in question, length of the lease term, size and location of premises being leased, base, shell and core delivery conditions, building standard work letter and/or tenant improvement or refurbishment allowances, if any (taking into account any, the level condition of the base building and the Landlord’s responsibility with respect thereto, the value, if any, of the existing Base Building Improvements and tenant improvements in (with such value being judged with respect to the Premises), free rent periods for construction utility of new such existing tenant improvements to the general business office user and not this particular Tenant) and other generally applicable conditions of tenancy for such Comparable Transactions. The intent is that Xxxxxx will obtain the same rent and other economic benefits that Landlord would otherwise give in Comparable Transactions and that Landlord will make, and receive the same economic payments and concessions that Landlord would otherwise make, and receive in Comparable Transactions. Landlord shall determine the Fair Market Rental Rate will reflect by using its good faith judgment. Landlord shall provide written notice of such amount within thirty (30) days after Tenant delivers an Option Notice Tenant shall have thirty (30) days (“Tenant’s Review Period”) after receipt of Landlord’s notice of the rent new rental within which to accept such rental in writing. In the event Tenant fails to accept the new rental proposed by Landlord, Landlord and other economic benefits Tenant shall attempt to agree upon such Fair Market Rental Rate, using their good faith efforts. If Landlord and concessions that Landlord or Tenant fail to reach agreement within fifteen (15) days following Tenant’s Review Period (“Outside Agreement Date”), then each party shall place in a separate sealed envelope their final proposal as to Fair Market Rental Rate and such determination shall be submitted to arbitration in accordance with subsections (a) through (e) below. Failure of Tenant to so elect in writing within Tenant’s Review Period shall conclusively be deemed its Affiliates (and other landlords disapproval of comparable office building projects in the Xxxx Xxxxx Airport submarket) have otherwise given in recent Comparable Transactions, as adjusted to reflect the level and type of economic concessions that Landlord may elect to give Tenant hereunder during the Renewal Term, so that Tenant will pay and Landlord will receive a net effective rent equal to the net effective rental rate in Comparable Transactions, after adjusting for any differences between the economic concessions that Landlord is making to Tenant hereunder and the economic concession that Landlord or its Affiliates (and other landlords of comparable office building projects in the Xxxx Xxxxx Airport submarket) have otherwise made in current Comparable Transactions. If, for example, after applying the criteria set forth above, a Comparable Transaction provides a comparable non-equity tenant with comparable space at a base rent equal to Thirty-Two Dollars ($32) per square foot of Rentable Area, with a Ten Dollars ($10) base amount expense stop, three (3) months’ free rent, four (4) months of free rent to construct tenant improvements, Forty Dollars ($40) per rentable square foot tenant improvement allowance, and certain other generally applicable economic terms and/or concessions, the Fair Market Rental Rate determined by Landlord. In the event that Xxxxxxxx fails to timely generate the initial written notice of Xxxxxxxx’s opinion of the Fair Market Rental Rate which triggers the negotiation period of this Paragraph 4, then Tenant may commence such negotiations by providing the initial notice, in which event Landlord shall not be Thirty-Two Dollars have fifteen ($3215) per square foot days (“Landlord’s Review Period”) after receipt of Rentable Area onlyTenant’s notice of the new rental within which to accept such rental. In the event Landlord fails to accept in writing such rental proposed by Xxxxxx, but then such proposal shall be deemed rejected, and Landlord and Tenant shall attempt in good faith to agree upon such Fair Market Rental Rate, using their good faith efforts. If Landlord and Tenant fail to reach agreement within fifteen (15) days following Landlord’s Review Period (which shall be, in such event, the economic equivalent of Thirty-Two Dollars ($32) per square foot of Rentable Area, a Ten Dollar ($10) base amount expense stop, three (3) months’ free rent, four (4) months of free rent to construct tenant improvements, Forty Dollars ($40) per rentable square foot tenant improvement allowance or payment “Outside Agreement Date” in lieu of the above definition of such allowance (said allowance or payment date), then each party shall place in a separate sealed envelope their final proposal as to be adjusted to reflect the value of existing improvements in the Premises) Fair Market Rental Rate and such other generally applicable economic terms and concessions, as adjusted determination shall be submitted to reflect the concessions arbitration in accordance with subsections (including renovation allowances, free rent or construction periodsa) if any, granted by Landlord to Tenant during the Renewal Termthrough (e) below.

Fair Market Rental Rate. The phrase For the purposes of this Rider No. One, the term “Fair Market Rental Rate” shall mean the fair market value annual rental rate amount per rentable square foot of Rentable Area that Landlord and its Affiliates and the owners of comparable office building projects in the Xxxx Xxxxx Airport submarket have recently Lessor has accepted in lease current transactions between non-affiliated parties with from new, non-expansion (unless the expansion is pursuant to a comparable definition of Fair Market Rental Rate), non renewal (unless the renewal is pursuant to a comparable definition of Fair Market Rental Rate) and non equity tenants Lessees of comparable credit-worthiness, for comparable spacespace (size and height), for a comparable use for a comparable period of time (“Comparable Transactions”)) in the Building and/or the Property, or to the extent there are not a sufficient number of Comparable Transactions in the Building and/or the Property, then Comparable Transactions will also include what a comparable Lessor of a Comparable Building with comparable vacancy factors would accept in Comparable Transactions. “Comparable Buildings” shall be buildings of comparable size and vintage and construction located in the vicinity of the Building. In any determination of Comparable Transactions, Transactions appropriate consideration shall be given to the annual rental rates per rentable square foot foot, the standard of Rentable Areameasurement by which the rentable square footage is measured, the ratio of rentable square feet to usable square feet, the type of escalation clauses clause (e.g., whether increases in additional rent are determined on a net or gross basis, and if gross, whether such increases are determined according to a base year or a base dollar amount expense stop), taking into account all rental the extent of Lessee’s liability under the Lease, parking rights and other concessions granted obligations, signage rights, abatement provisions reflecting free rent and/or no rent during the period of construction or subsequent to the commencement date as to the space in such Comparable Transactions (as well as such concessions to question, brokerage commissions, if any, which Tenant may would be entitled payable by Lessor in this Lease)similar transactions, length of the lease term, size and location of premises being leased, base, shell and core delivery conditions, building standard work letter and/or tenant Lessee improvement or refurbishment allowances, if any any, the condition of the base building and the Lessor’s responsibility with respect thereto, the value, if any, of the existing Lessee improvements (taking into account with such value being judged with respect to the level utility of such existing Base Building Improvements Lessee improvements to the general business office user and tenant improvements in the Premises), free rent periods for construction of new tenant improvements not this particular Lessee) and other generally applicable conditions of tenancy for such Comparable Transactions. The intent is that Lessee will obtain the same rent and other economic benefits that Lessor would otherwise give in Comparable Transactions and that Lessor will make, and receive the same economic payments and concessions that Lessor would otherwise make, and receive in Comparable Transactions. Lessor shall determine the Fair Market Rental Rate will reflect by using its good faith judgment. Lessor shall provide written notice of such amount within fifteen (15) days (but in no event later than twenty (20) days) after Lessee provides the rent notice to Lessor exercising Lessee’s option rights which require a calculation of the Fair Market Rental Rate. Lessee shall have thirty (30) days (“Lessee’s Review Period”) after receipt of Lessor’s notice of the new rental within which to accept such rental in writing. In the event Lessee fails to accept the new rental proposed by Lessor, Lessor and other economic benefits Lessee shall attempt to agree upon such Fair Market Rental Rate, using their best good faith efforts. If Lessor and concessions that Landlord or Lessee fail to reach agreement within fifteen (15) days following Lessee’s Review Period (“Outside Agreement Date”), then each party shall place in a separate sealed envelope their final proposal as to Fair Market Rental Rate and such determination shall be submitted to arbitration in accordance with subsections (a) through (e) below. Failure of Lessee to so elect in writing within Lessee’s Review Period shall conclusively be deemed its Affiliates (and other landlords disapproval of comparable office building projects in the Xxxx Xxxxx Airport submarket) have otherwise given in recent Comparable Transactions, as adjusted to reflect the level and type of economic concessions that Landlord may elect to give Tenant hereunder during the Renewal Term, so that Tenant will pay and Landlord will receive a net effective rent equal to the net effective rental rate in Comparable Transactions, after adjusting for any differences between the economic concessions that Landlord is making to Tenant hereunder and the economic concession that Landlord or its Affiliates (and other landlords of comparable office building projects in the Xxxx Xxxxx Airport submarket) have otherwise made in current Comparable Transactions. If, for example, after applying the criteria set forth above, a Comparable Transaction provides a comparable non-equity tenant with comparable space at a base rent equal to Thirty-Two Dollars ($32) per square foot of Rentable Area, with a Ten Dollars ($10) base amount expense stop, three (3) months’ free rent, four (4) months of free rent to construct tenant improvements, Forty Dollars ($40) per rentable square foot tenant improvement allowance, and certain other generally applicable economic terms and/or concessions, the Fair Market Rental Rate determined by Lessor. In the event that Lessor fails to timely generate the initial written notice of Lessor’s opinion of the Fair Market Rental Rate which triggers the negotiation period of this Section, then Lessee may commence such negotiations by providing the initial notice, in which event Lessor shall not be Thirty-Two Dollars have fifteen ($3215) per square foot days (“Lessor’s Review Period”) after receipt of Rentable Area onlyLessee’s notice of the new rental within which to accept such rental. In the event Lessor fails to accept in writing such rental proposed by Lessee, but then such proposal shall be deemed rejected, and Lessor and Lessee shall attempt in good faith to agree upon such Fair Market Rental Rate, using their best good faith efforts. If Lessor and Lessee fail to reach agreement within fifteen (15) days following Lessor’s Review Period (which shall be, in such event, the economic equivalent of Thirty-Two Dollars ($32) per square foot of Rentable Area, a Ten Dollar ($10) base amount expense stop, three (3) months’ free rent, four (4) months of free rent to construct tenant improvements, Forty Dollars ($40) per rentable square foot tenant improvement allowance or payment “Outside Agreement Date” in lieu of the above definition of such allowance (said allowance or payment date), then each party shall place in a separate sealed envelope their final proposal as to be adjusted to reflect the value of existing improvements in the Premises) Fair Market Rental Rate and such other generally applicable economic terms and concessions, as adjusted determination shall be submitted to reflect the concessions arbitration in accordance with subsections (including renovation allowances, free rent or construction periodsa) if any, granted by Landlord to Tenant during the Renewal Term.through (e) below. Lessee’s initials: Reviewed: OPEN TO EXTEND TERM Lessor’s initials:

Fair Market Rental Rate. The phrase “Fair Market Rental Rate” shall mean the fair market value annual rental rate per square foot of Rentable Area that Landlord and its Affiliates and the owners of comparable office building projects in the Xxxx Xxxxx Airport submarket have recently accepted in lease transactions between non-affiliated parties with non-equity tenants for comparable spacespace in the Lantana Campus, for a comparable period of time (“Comparable Transactions”); provided, however, that if there are not sufficient or sufficiently determinative Comparable Transactions by Landlord or its Affiliates within the 12 month period preceding the determination of Fair Market Rental Rate, then the Comparable Transactions shall be transactions by owners of comparable office building projects in the Santa Xxxxxx submarket during such 12 month period. In any determination of Comparable Transactions, appropriate consideration shall be given to annual rental rates per square foot of Rentable Area, the type of escalation clauses (e.g., whether increases in additional rent are determined on a net or gross basis, and if gross, whether such increases are determined according to a base year or a base dollar amount expense stop), taking into account all rental and other concessions granted in such Comparable Transactions (as well as such concessions to which Tenant may be entitled in this Lease), taking into account all periodic rent increases provided for in such Comparable Transactions, length of the lease term, size and location of premises being leased, base, shell and core delivery conditions, building standard work letter and/or tenant improvement or refurbishment allowances, if any (taking into account the level of existing Base Building Improvements and tenant improvements in the PremisesPremises in determining the Fair Market Rental Rate for the Renewal Terms), free rent periods for construction of new tenant improvements improvements, free parking, lease assumptions, moving allowances and other generally applicable conditions of tenancy for such Comparable Transactions. The intent is that the Fair Market Rental Rate will reflect the rent and other economic benefits and concessions that Landlord or its Affiliates (and other landlords of comparable office building projects in the Xxxx Xxxxx Airport Santa Xxxxxx submarket) have otherwise given in recent Comparable Transactions, as adjusted to reflect the level and type of economic concessions that Landlord may elect to give Tenant hereunder during the Renewal Term, so that Tenant will pay and Landlord will receive a net effective rent equal to the net effective rental rate in Comparable Transactions, after adjusting for any differences between the economic concessions that Landlord is making to Tenant hereunder and the economic concession that Landlord or its Affiliates (and other landlords of comparable office building projects in the Xxxx Xxxxx Airport Santa Xxxxxx submarket) have otherwise made in current Comparable Transactions. If, for example, after applying the criteria set forth above, a Comparable Transaction provides a comparable non-equity tenant with comparable space at a base rent equal to Thirty-Two Sixty Dollars ($3260) per square foot of Rentable Area, with a Ten Dollars ($10) base amount expense stop, three (3) months’ free rent, four (4) months of free rent to construct tenant improvements, Forty Dollars ($40) per rentable square foot tenant improvement allowance, and certain other generally applicable economic terms and/or concessions, the Fair Market Rental Rate shall not be Thirty-Two Sixty Dollars ($3260) per square foot of Rentable Area only, but shall be the economic equivalent of Thirty-Two Sixty Dollars ($3260) per square foot of Rentable Area, a Ten Dollar ($10) base amount expense stop, three (3) months’ free rent, four (4) months of free rent to construct tenant improvements, Forty Dollars ($40) per rentable square foot tenant improvement allowance or payment in lieu of such allowance (said allowance or payment to be adjusted to reflect the value of existing improvements in the PremisesPremises when determining the Fair Market Rental Rate for the Renewal Terms) and such other generally applicable economic terms and concessions, as adjusted to reflect the concessions (including renovation allowances, free rent or construction periods) if any, granted by Landlord to Tenant during the Renewal TermTerms or with respect to the Available Space, as applicable.

Fair Market Rental Rate. The phrase “For purposes of the Lease, the term "Fair Market Rental Rate” " shall mean the fair market value annual rental rate amount per rentable square foot of Rentable Area that Landlord and its Affiliates and the owners of comparable office building projects in the Xxxx Xxxxx Airport submarket have recently has accepted in lease current transactions between non-affiliated parties with nonfrom renewal tenants of comparable credit-equity tenants worthiness, for comparable space, for a comparable use, for a comparable period of time (“"Comparable Transactions”)") in the Building, or if there are not a sufficient number of Comparable Transactions in the Building, what a comparable landlord of a Comparable Building with comparable vacancy factors would accept in Comparable Transactions. In any determination of Comparable Transactions, Transactions appropriate consideration shall be given to the annual rental rates per rentable square foot foot, the standard of Rentable Areameasurement by which the rentable square footage is measured, the ratio of rentable square feet to usable square feet, the type of escalation clauses clause (e.g., whether increases in additional rent are determined on a net or gross basis, and if gross, whether such increases are determined according to a base year or a base dollar amount expense stop), taking into account all rental and other concessions granted abatement provisions reflecting free rent and/or no rent during the period of construction or subsequent to the commencement date as to the space in such Comparable Transactions (as well as such concessions to which Tenant may be entitled in this Lease)question, length of the lease term, size and location of premises being leased, base, shell and core delivery conditions, building standard work letter and/or tenant improvement or refurbishment allowances, if any (taking into account the level of existing Base Building Improvements and tenant improvements in the Premises)any, free rent periods for construction of new tenant improvements and other generally applicable conditions of tenancy for such Comparable Transactions. The intent is that Landlord shall determine the Fair Market Rental Rate will reflect by using its good faith judgment. Landlord shall provide written notice of such amount within fifteen (15) days (but in no event later than twenty (20) days) after Tenant provides the rent notice to Landlord exercising Tenant's option rights which require a calculation of the Fair Market Rental Rate. Tenant shall have thirty (30) days ("Tenant's Review Period") after receipt of Landlord's notice of the new rental within which to accept such rental or to reasonably object thereto in writing. In the event Tenant objects, Landlord and other economic benefits Tenant shall attempt to agree upon such Fair Market Rental Rate using their best good faith efforts. If Landlord and concessions that Landlord or Tenant fail to reach agreement within fifteen (15) days following Tenant's Review Period ("Outside Agreement Date"), then each party shall place in a separate sealed envelope their final proposal as to Fair Market Rental Rate and such determination shall be submitted to arbitration in accordance with Subsections (a) through (e) below. Failure of Tenant to so elect in writing within Tenant's Review Period shall conclusively be deemed its Affiliates (and other landlords disapproval of comparable office building projects in the Xxxx Xxxxx Airport submarket) have otherwise given in recent Comparable Transactions, as adjusted to reflect the level and type of economic concessions that Landlord may elect to give Tenant hereunder during the Renewal Term, so that Tenant will pay and Landlord will receive a net effective rent equal to the net effective rental rate in Comparable Transactions, after adjusting for any differences between the economic concessions that Landlord is making to Tenant hereunder and the economic concession that Landlord or its Affiliates (and other landlords of comparable office building projects in the Xxxx Xxxxx Airport submarket) have otherwise made in current Comparable Transactions. If, for example, after applying the criteria set forth above, a Comparable Transaction provides a comparable non-equity tenant with comparable space at a base rent equal to Thirty-Two Dollars ($32) per square foot of Rentable Area, with a Ten Dollars ($10) base amount expense stop, three (3) months’ free rent, four (4) months of free rent to construct tenant improvements, Forty Dollars ($40) per rentable square foot tenant improvement allowance, and certain other generally applicable economic terms and/or concessions, the Fair Market Rental Rate determined by Landlord. In the event that Landlord fails to timely generate the initial written notice of Landlord's opinion of the Fair Market Rental Rate which triggers the negotiation period of this Addendum Provision, then Tenant may commence such negotiations by providing the initial notice, in which event Landlord shall not be Thirty-Two Dollars have fifteen ($3215) per square foot days ("Landlord's Review Period") after receipt of Rentable Area onlyTenant's notice of the new rental within which to accept such rental. In the event Landlord fails to accept in writing such rental proposed by Tenant, but then such proposal shall be deemed rejected, and Landlord and Tenant shall attempt in good faith to agree upon such Fair Market Rental Rate using their best good faith efforts. If Landlord and Tenant fail to reach agreement within fifteen (15) days following Landlord's Review Period (which shall be, in such event, the economic equivalent of Thirty-Two Dollars ($32) per square foot of Rentable Area, a Ten Dollar ($10) base amount expense stop, three (3) months’ free rent, four (4) months of free rent to construct tenant improvements, Forty Dollars ($40) per rentable square foot tenant improvement allowance or payment "Outside Agreement Date" in lieu of the above definition of such allowance (said allowance or payment date), then each party shall place in a separate sealed envelope their final proposal as to be adjusted to reflect the value of existing improvements in the Premises) Fair Market Rental Rate and such other generally applicable economic terms and concessions, as adjusted determination shall be submitted to reflect the concessions arbitration in accordance with Subsections (including renovation allowances, free rent or construction periodsa) if any, granted by Landlord to Tenant during the Renewal Termthrough (e) below.