First Extended Term. The annual Base Rent for the First Extended Term, shall be an amount equal to the greater of (1) the Market Rent for the Premises for the First Extended Term and (2) the product of (A) the annual Base Rent in effect on the last day of the Term and (B) the greater of (x) 1.03 and (y) the lesser of (aa) 1.06 and (bb) the average annual percentage increase, if any, in the CPI between August 2014 and the month preceding the commencement of the First Extended Term.
Appears in 3 contracts
Sources: Lease Agreement (May & Speh Inc), Office Lease (May & Speh Inc), Office Lease (May & Speh Inc)