Common use of Monthly Rent During the Extension Periods Clause in Contracts

Monthly Rent During the Extension Periods. In the event Tenant exercises its option to extend the term of the Lease as set forth above, the Monthly Rent for each Extension Period shall be the greater of the Monthly Rent paid during the previous year, or the prevailing fair market rent as determined by an MAI Appraiser, which Appraiser is acceptable to Landlord and Tenant, and is paid equally by Tenant and Landlord. The Base Monthly Rent shall then be adjusted as set forth in Section 5.

Monthly Rent During the Extension Periods. In the event Tenant exercises its option to extend the term of the Lease as set forth above, the Monthly Rent for each Extension Period shall be the greater of the Monthly Rent paid during the previous year, or the prevailing fair market rent as determined by an MAI Appraiser, which Appraiser is acceptable to Landlord and Tenant, and is paid equally by Tenant and Landlord. The Base Monthly Rent shall then be adjusted as set forth in Section 5.

Monthly Rent During the Extension Periods. In the event Tenant exercises its option to extend the term of the Lease as set forth above, the Monthly Rent for each Extension Period shall be the greater of the Monthly Rent paid during the previous year, or the prevailing fair market rent as determined by an MAI Appraiser, which Appraiser is acceptable to Landlord and Tenant, and is paid for equally by Tenant and Landlord. The Base Monthly Rent shall then be adjusted as set forth in Section 5.