Common use of Prevailing Market Rate Clause in Contracts

Prevailing Market Rate. The Base Rent payable by Tenant for the Premises during an Extension Term shall be the Prevailing Market Rate (as defined below) for the Premises, valued as of the commencement of such Extension Term, determined in the manner hereinafter provided. As used herein, the term “Prevailing Market Rate” shall mean the annual Base Rent that a willing tenant would pay, and that a willing landlord would accept, at arm’s length, for space comparable to the Premises within other comparable first class office buildings having more than two (2) stories located in the area including and bounded by South San Francisco to the north and Sunnyvale to the south (the “Comparable Buildings”), based upon binding lease transactions for tenants in Comparable Buildings (“Comparable Leases”). Comparable Leases shall include renewal and new non-renewal tenancies, but shall exclude subleases and leases of space subject to another tenant’s expansion rights. Rent rates payable under Comparable Leases shall be adjusted to account for variations between this Lease and the Comparable Leases with respect to: (a) the length of the Extension Term compared to the lease term of the Comparable Leases; (b) the rental structure, including, without limitation, rental rates per rentable square foot (including whether gross or net, and if gross, adjusting for base year or expense stop), additional rental, all other payments and escalations; (c) the size of the Premises compared to the size of the premises of the Comparable Leases; (d) the location, floor levels and efficiencies of the floor(s) of the Premises compared to the premises of the Comparable Lease; (e) free rent, moving expenses and other cash payments, allowances or other monetary concessions affecting the rental rate; (f) the age and quality of construction of the Building compared to the Comparable Building; (g) the leasehold improvements and/or allowances, including the amounts thereof in renewal leases, and taking into account, in the case of renewal leases (including this Lease), the value of existing leasehold improvements to the renewal tenant, (h) access and proximity to Caltrain, (i) the amenities available to tenants in the Building compared to amenities available to tenants in Comparable Buildings; (j) the energy efficiencies and environmental elements of the Building compared to Comparable Buildings, including improvements required for the U.S. Green Building Council’s Leadership in Energy and Environmental Design (“LEED”) certification, (k) the brokerage commissions, (l) the availability of parking, the parking ratio and parking charges, and (m) the relative market rent rates within the geographic area referenced in the definition of Comparable Buildings.

Prevailing Market Rate. The As used in this Lease, the phrase “Prevailing Market Rate” means the amount that a landlord under no compulsion to lease the Premises, and a tenant under no compulsion to lease the Premises, would agree upon at arm’s length as Base Rent payable by Tenant for the Premises during an Extension Term shall be the Prevailing Market Rate (as defined below) for the PremisesExtension Term, valued as of the commencement of such the Extension Term. The Prevailing Market Rate shall be based upon non-sublease, determined non-encumbered, non-equity lease transactions recently entered into for space in the manner hereinafter provided. As used herein, the term “Prevailing Market Rate” shall mean the annual Base Rent that a willing tenant would pay, Building and that a willing landlord would accept, at arm’s length, for space comparable to the Premises within other comparable first class office buildings having more than two (2) stories located in the area including and bounded by South San Francisco to the north and Sunnyvale to the south (the “Comparable Buildings”), based upon binding lease transactions for tenants in Comparable Buildings (“Comparable Comparison Leases”)) and may include periodic increases. Comparable Leases shall include renewal and new non-renewal tenancies, but shall exclude subleases and leases of space subject to another tenant’s expansion rights. Rent Rental rates payable under Comparable Comparison Leases shall be adjusted to account for variations between this Lease and the Comparable Comparison Leases with respect to: (ai) the length of the Extension Term compared to the lease term of the Comparable Comparison Leases; (bii) the rental structure, including, without limitation, rental rates per rentable square foot (including whether gross or netadditional rent, and if gross, adjusting for taking into consideration any “base year or expense stop), additional rental, all other payments and escalationsyear”; (ciii) the size of the Premises compared to the size of the premises of under the Comparable Comparison Leases; (div) the utility, location, floor levels levels, views and efficiencies of the floor(s) of the Premises compared to the premises of under the Comparable LeaseComparison Leases; (e) free rent, moving expenses and other cash payments, allowances or other monetary concessions affecting the rental rate; (fv) the age and quality of construction of the Building compared to the Comparable Building; (gvi) the leasehold improvements and/or allowances, including the amounts thereof in renewal leases, and taking into account, in the case of renewal leases (including this Lease), the value of existing leasehold improvements to Tenant; and (vii) the renewal tenantfinancial condition and credit history of Tenant compared to the tenants under the Comparison Leases. In determining the Prevailing Market Rate, (h) access and proximity no consideration shall be given to Caltrain, (i) the amenities available any rental abatement period granted to tenants in Comparison Leases in connection with the Building compared to amenities available to tenants design and construction of tenant improvements, (ii) whether Landlord or the landlords under Comparison Leases are paying real estate brokerage commissions in Comparable Buildings; (j) the energy efficiencies and environmental elements connection with Tenant’s exercise of the Building compared to Comparable Buildings, including improvements required for Extension Option or in connection with the U.S. Green Building Council’s Leadership in Energy and Environmental Design (“LEED”) certification, (k) the brokerage commissions, (l) the availability of parking, the parking ratio and parking chargesComparison Leases, and (miii) moving allowances paid. For purposes of this Paragraph, “Comparable Buildings” mean those buildings located in the vicinity of the Building. In no event shall the Prevailing Market Rent be less than ninety percent (90%) the relative market rent rates within Base Rent paid by Tenant during the geographic area referenced in twelve months of the definition of Comparable BuildingsLease Term immediately preceding the Extension Term.

Prevailing Market Rate. The As used in this Lease, the phrase “Prevailing Market Rate” means the amount that a landlord under no compulsion to lease the Premises, and a tenant under no compulsion to lease the Premises, would agree upon at arm’s length as Base Rent payable by Tenant for the Premises during an Extension Term shall be the Prevailing Market Rate (as defined below) for the PremisesExtension Term, valued as of the commencement of such the Extension Term. The Prevailing Market Rate shall be based upon non-sublease, determined non-encumbered, non-equity lease transactions in the manner hereinafter provided. As used herein, the term “Prevailing Market Rate” shall mean the annual Base Rent that a willing tenant would pay, Building and that a willing landlord would accept, at arm’s length, for space comparable to the Premises within other comparable first class office buildings having more than two (2) stories located in the area including and bounded by South San Francisco to the north and Sunnyvale to the south (the “Comparable Buildings”), based upon binding lease transactions for tenants in Comparable Buildings (“Comparable Comparison Leases”), and may include annual or other periodic increases. Comparable Leases shall include renewal and new non-renewal tenancies, but shall exclude subleases and leases of space subject to another tenant’s expansion rights. Rent Rental rates payable under Comparable Comparison Leases shall be adjusted to account for variations between this Lease and the Comparable Comparison Leases with respect to: (ai) the length of the Extension Term compared to the lease term of the Comparable Comparison Leases; (bii) the rental structure, including, without limitation, rental rates per rentable square foot (including whether gross or netadditional rent, and if gross, adjusting for taking into consideration any “base year year” or “expense stop), additional rental, all other payments and escalationsstops”; (ciii) the size of the Premises compared to the size of the premises of under the Comparable Comparison Leases; (div) the utility, location, floor levels levels, views and efficiencies of the floor(s) of the Premises compared to the premises of under the Comparable LeaseComparison Leases; (e) free rent, moving expenses and other cash payments, allowances or other monetary concessions affecting the rental rate; (fv) the age and quality of construction of the Building compared to the Comparable Building; (gvi) the leasehold improvements and/or allowances, including the amounts thereof in renewal leases, and taking into account, in the case of renewal leases (including this Lease), the value of existing leasehold improvements to Tenant; and (vii) the renewal tenantfinancial condition and credit history of Tenant compared to the tenants under the Comparison Leases. In determining the Prevailing Market Rate, no consideration shall be given to (A) whether Landlord or the landlords under Comparison Leases are paying real estate brokerage commissions in connection with Tenant’s exercise of the Extension Option or in connection with the Comparison Leases, (hB) access and proximity to Caltrain, (i) the amenities available to tenants in the Building compared to amenities available to tenants in Comparable Buildings; (j) the energy efficiencies and environmental elements of the Building compared to Comparable Buildings, including improvements required for the U.S. Green Building Council’s Leadership in Energy and Environmental Design (“LEED”) certification, (k) the brokerage commissions, (l) the availability of parking, the parking ratio and parking chargesmoving allowances paid, and (mC) the relative market rent rates within the geographic area referenced value of any improvements or alterations paid for by Tenant. For purposes of this Article, “Comparable Buildings” means Class A office buildings in the definition Pleasanton Area with similar amenities. If Tenant properly notifies Landlord of Comparable Buildingsexercise of the Extension Option, Landlord and Tenant shall thereafter negotiate in good faith in an attempt to agree upon the Prevailing Market Rate for the Extension Term. If Landlord and Tenant are able to agree upon the Prevailing Market Rate within thirty (30) days following Landlord’s receipt of Tenant’s Option Notice (“Outside Agreement Date”), then such agreement shall constitute a determination of Prevailing Market Rate for purposes of this Paragraph. If Landlord and Tenant are unable to agree upon the Prevailing Market Rate by the Outside Agreement Date, the Prevailing Market Rate shall be determined in accordance with the arbitration procedure set forth in subparagraph (c) below.

Prevailing Market Rate. The Base Monthly Rent payable by Tenant for the Premises during an the Extension Term shall be the Prevailing Market Rate (as defined below) for the Premises, valued as of the commencement of such the Extension Term, determined in the manner hereinafter provided. As used herein, the term “"Prevailing Market Rate” " shall mean the annual Base Monthly Rent that a willing tenant would pay, and that a willing landlord would accept, at arm’s 's length, for space comparable to the Premises within other comparable first class office office/R&D buildings having more than two (2) or more stories located in the area including and bounded by South San Francisco Highway 237 to the north and Sunnyvale north, Montague Expressway to the south south, Highway 101 to the west and North First Street to the east (the “"Comparable Buildings”"), based upon binding lease transactions for tenants in Comparable Buildings (“"Comparable Leases”"). Comparable Leases shall include renewal and new non-renewal tenancies, but shall exclude subleases and leases of space subject to another tenant’s 's expansion rights. Rent rates payable under Comparable Leases shall be adjusted to account for variations between this Lease and the Comparable Leases with respect to: (a) the length of the Extension Term compared to the lease term of the Comparable Leases; (b) the rental structure, including, without limitation, rental rates per rentable square foot (including whether gross or net, and if gross, adjusting for base year or expense stop), additional rental, all other payments and escalations; (c) the size of the Premises compared to the size of the premises of the Comparable Leases; (d) the scale of the Project and the availability and adjacency of expansion space compared to the same of the Comparable Leases; (e) the location, floor levels and efficiencies of the floor(s) of the Premises compared to the premises of the Comparable Lease; (ef) free rent, moving expenses and other cash payments, allowances or other monetary concessions affecting the rental rate; (fg) the age and quality of construction of the Building compared to the Comparable Building; (gh) the leasehold improvements and/or allowances, including the amounts thereof in renewal leases, and taking into account, in the case of renewal leases (including this Lease), the value of existing leasehold improvements to the renewal tenant, (h) access and proximity to Caltrain, ; (i) the amenities available to tenants in the Building compared to amenities available to tenants in Comparable Buildings; (j) the energy efficiencies and environmental elements of the Building compared to Comparable Buildings, including improvements required for the U.S. Green Building Council’s 's Leadership in Energy and Environmental Design (“LEED”) certification, (k) the brokerage commissions, commissions and (l) the availability of parking, the parking ratio and parking charges, and (m) the relative market rent rates within the geographic area referenced in the definition of Comparable Buildings.

Prevailing Market Rate. The Base Rent payable by Tenant for the Premises during an the Extension Term shall be of the Prevailing Market Rate (as defined below) for the Premises, valued as of the commencement of such Extension Term, determined in the manner hereinafter provided. As used herein, the term “Prevailing Market Rate” shall mean the annual Base Rent that a willing tenant would pay, and that a willing landlord would accept, at arm’s length, for space comparable to the Premises within other comparable first class office buildings having more than two (2) stories located in the area including and bounded by South San Francisco to the north and to Sunnyvale to the south (the “Comparable Buildings”), based upon binding lease transactions for tenants in Comparable Buildings (“Comparable Leases”). Comparable Leases shall include renewal and new non-renewal tenancies, but shall exclude subleases and leases of space subject to another tenant’s expansion rights. Rent rates payable under Comparable Leases shall be adjusted to account for variations between this Lease and the Comparable Leases with respect to: (a) the length of the Extension Term compared to the lease term of the Comparable Leases; (b) the rental structure, including, without limitation, rental rates per rentable square foot (including whether gross or net, and if gross, adjusting for base year or expense stop), additional rental, all other payments and escalations; (c) the size of the Premises compared to the size of the premises of the Comparable Leases; (d) the location, floor levels and efficiencies of the floor(s) of the Premises compared to the premises of the Comparable Lease; (e) free rent, moving expenses and other cash payments, allowances or other monetary concessions affecting the rental rate; (f) the age and quality of construction of the Building compared to the Comparable Building; (g) the leasehold improvements and/or allowances, including the amounts thereof in renewal leases, and taking into account, in the case of renewal leases (including this Lease), the value of existing leasehold improvements to the renewal tenant, (h) access and proximity to Caltrain, (i) the amenities available to tenants in the Building compared to amenities available to tenants in Comparable Buildings; (j) the energy efficiencies and environmental elements of the Building compared to Comparable Buildings, including improvements required for the U.S. Green Building Council’s Leadership in Energy and Environmental Design (“LEED”) certification, and (k) the brokerage commissions, (l) the availability of parking, the parking ratio and parking charges, and (m) the relative market rent rates within the geographic area referenced in the definition of Comparable Buildings.

Prevailing Market Rate. The Base Monthly Rent payable by Tenant for the Premises during an Extension Term shall be the Prevailing Market Rate (as defined below) for the Premises, valued as of the commencement of such Extension Term, determined in the manner hereinafter provided. As used herein, the term “Prevailing Market Rate” shall mean the annual Base Monthly Rent that a willing tenant would pay, and that a willing landlord would accept, at arm’s length, for space comparable to the Premises within other comparable first class office office/R&D buildings having more than two (2) or more stories located in the roughly triangular area including and bounded by South San Francisco to the north and Sunnyvale to the south Hxxxxxx 000, Xxxxxxxxxx 000 xxx X.X. Xxxxxxx 101 (the “Comparable Buildings”), based upon binding lease transactions for tenants in Comparable Buildings (“Comparable Leases”). Comparable Leases shall include renewal and new non-renewal tenancies, but shall exclude subleases and leases of space subject to another tenant’s expansion rights. Rent rates payable under Comparable Leases shall be adjusted to account for variations between this Lease and the Comparable Leases with respect to: (a) the length of the Extension Term compared to the lease term of the Comparable Leases; (b) the rental structure, including, without limitation, rental rates per rentable square foot (including whether gross or net, and if gross, adjusting for base year or expense stop), additional rental, all other payments and escalations; (c) the size of the Premises compared to the size of the premises of the Comparable Leases; (d) the scale of the Project and the availability and adjacency of expansion space compared to the same of the Comparable Leases; (e) the location, floor levels and efficiencies of the floor(s) of the Premises compared to the premises of the Comparable Lease; (ef) free rent, moving expenses and other cash payments, allowances or other monetary concessions affecting the rental raterate payable under Comparable Leases; (fg) the age and quality of construction of the Building compared to the Comparable Building; (gh) the leasehold improvements and/or allowances, including the amounts thereof in renewal leases, and taking into account, in the case of renewal leases (including this Lease), the value of existing leasehold improvements to the renewal tenant, (h) access and proximity to Caltrain, ; (i) the amenities available to tenants in the Building compared to amenities available to tenants in Comparable Buildings; (j) the energy efficiencies and environmental elements of the Building compared to Comparable Buildings, including improvements required for the U.S. Green Building Council’s Leadership in Energy and Environmental Design (“LEED”) certification, (k) the brokerage commissions, commissions payable with respect to Comparable Leases and this Lease and (l) the availability of parking, the parking ratio and parking charges, and (m) charges with respect to the relative market rent rates within Building compared to the geographic area referenced in the definition of Comparable Buildings.Building

Prevailing Market Rate. The As used in this Lease, the phrase “Prevailing Market Rate” means the amount that a landlord under no compulsion to lease the Premises, and a tenant under no compulsion to lease the Premises, would agree upon at arm’s length as Base Rent payable by Tenant for the Premises during an Extension Term shall be the Prevailing Market Rate (as defined below) for the PremisesSecond Extension Term, valued as of the commencement of such the Second Extension Term. The Prevailing Market Rate shall be based upon non-sublease, determined non-encumbered, non-equity lease transactions recently entered into for space in the manner hereinafter provided. As used herein, the term “Prevailing Market Rate” shall mean the annual Base Rent that a willing tenant would pay, Building and that a willing landlord would accept, at arm’s length, for space comparable to the Premises within other comparable first class office buildings having more than two (2) stories located in the area including and bounded by South San Francisco to the north and Sunnyvale to the south (the “Comparable Buildings”), based upon binding lease transactions for tenants in Comparable Buildings (“Comparable Comparison Leases”)) and may include periodic increases. Comparable Leases shall include renewal and new non-renewal tenancies, but shall exclude subleases and leases of space subject to another tenant’s expansion rights. Rent Rental rates payable under Comparable Comparison Leases shall be adjusted to account for variations between this Lease and the Comparable Comparison Leases with respect to: (ai) the length of the Second Extension Term compared to the lease term of the Comparable Comparison Leases; (bii) the rental structure, including, without limitation, rental rates per rentable square foot (including whether gross or netadditional rent, and if gross, adjusting for taking into consideration any “base year year” or “expense stop), additional rental, all other payments and escalationsstops”; (ciii) the size of the Premises compared to the size of the premises of under the Comparable Comparison Leases; (div) the utility, location, floor levels levels, views and efficiencies of the floor(s) of the Premises compared to the premises of under the Comparable LeaseComparison Leases; (e) free rent, moving expenses and other cash payments, allowances or other monetary concessions affecting the rental rate; (fv) the age and quality of construction of the Building compared to the Comparable Building; (gvi) the leasehold improvements and/or allowances, including the amounts thereof in renewal leases, and taking into account, in the case of renewal leases (including this Lease), the value of existing leasehold improvements to the renewal tenant, Tenant; and (h) access and proximity to Caltrain, (ivii) the amenities available financial condition and credit history of Tenant compared to the tenants under the Comparison Leases. The Prevailing Market Rate shall take into consideration tenant improvement or refurbishment allowances granted in Comparison Leases. In determining the Prevailing Market Rate, no consideration shall be given to (a) any rental abatement period granted to tenants in Comparison Leases in connection with the Building compared to amenities available to tenants design and construction of tenant improvements and (b) whether Landlord or the landlords under Comparison Leases are paying real estate brokerage commissions in Comparable Buildings; (j) the energy efficiencies and environmental elements connection with Tenant’s exercise of the Building compared to Extension Option or in connection with the Comparison Leases. For purposes of this Article, Comparable Buildings, including improvements required for the U.S. Green Building Council’s Leadership in Energy and Environmental Design (“LEED”) certification, (k) the brokerage commissions, (l) the availability of parking, the parking ratio and parking charges, and (m) the relative market rent rates within the geographic area referenced Buildings shall mean other tier one class A building in the definition of Comparable BuildingsXxxxxxxx Xxx Xxxxxxxxx Xxxxxxx Xxxxxxxx Xxxxxxxx.

Prevailing Market Rate. The As used in this Lease, the phrase “Prevailing Market Rate” means the amount that a landlord under no compulsion to lease the Premises, and a tenant under no compulsion to lease the Premises, would agree upon at arm’s length as Base Rent payable by Tenant for the Premises during an Extension Term shall be the Prevailing Market Rate (as defined below) for the PremisesExtension Term, valued as of the commencement of such the Extension Term. The Prevailing Market Rate shall be based upon non-sublease, determined non-encumbered, non-equity lease transactions recently entered into for space in the manner hereinafter provided. As used herein, the term “Prevailing Market Rate” shall mean the annual Base Rent that a willing tenant would pay, Building and that a willing landlord would accept, at arm’s length, for space in comparable to the Premises within other comparable first class office buildings having more than two (2) stories located First-Class Buildings in the Pleasanton-San Xxxxx area including and bounded by South San Francisco to the north and Sunnyvale to the south (the “Comparable Buildings”), based upon binding lease transactions for tenants in Comparable Buildings (“Comparable Comparison Leases”)) and may include periodic increases. Comparable Leases shall include renewal and new non-renewal tenancies, but shall exclude subleases and leases of space subject to another tenant’s expansion rights. Rent Rental rates payable under Comparable Comparison Leases shall be adjusted to account for variations between this Lease and the Comparable Comparison Leases with respect to: (ai) the length of the Extension Term compared to the lease term of the Comparable Comparison Leases; (bii) the rental structure, including, without limitation, rental rates per rentable square foot (including whether gross or netadditional rent, and if gross, adjusting for taking into consideration any “base year year” or “expense stop), additional rental, all other payments and escalationsstops”; (ciii) the size of the Premises compared to the size of the premises of under the Comparable Comparison Leases; (div) the utility, location, floor levels levels, views and efficiencies of the floor(s) of the Premises compared to the premises of under the Comparable LeaseComparison Leases; (e) free rent, moving expenses and other cash payments, allowances or other monetary concessions affecting the rental rate; (fv) the age and quality of construction of the Building compared to the Comparable Building; (gvi) the leasehold improvements and/or allowances, including the amounts thereof in renewal leases, and taking into account, in the case of renewal leases (including this Lease), the value of existing leasehold improvements improvements; and (vii) the financial condition and credit history of Tenant compared to the tenants under the Comparison Leases. In determining the Prevailing Market Rate, no consideration shall be given to (1) any rental abatement periods, improvement allowances or similar concessions granted to new (i.e., non-renewal) tenants in Comparison Leases unless, and to the extent, also granted to renewal tenanttenants, (h2) access and proximity to Caltrain, (i) whether Landlord or the amenities available to tenants landlords under Comparison Leases are paying real estate brokerage commissions in the Building compared to amenities available to tenants in Comparable Buildings; (j) the energy efficiencies and environmental elements connection with Tenant’s exercise of the Building compared to Comparable Buildings, including improvements required for Extension Option or in connection with the U.S. Green Building Council’s Leadership in Energy and Environmental Design (“LEED”) certification, (k) the brokerage commissions, (l) the availability of parking, the parking ratio and parking chargesComparison Leases, and (m3) the relative market rent rates within the geographic area referenced in the definition moving allowances paid. For purposes of this Paragraph, Comparable BuildingsBuildings shall include, but not be limited to: Xxxx America Corporate Center; Hacienda Terrace; Dublin Corporate Center; and Stoneridge Corporate Plaza.

Prevailing Market Rate. The As used in this Lease, the phrase “Prevailing Market Rate” means the amount that a landlord under no compulsion to lease the Premises, and a tenant under no compulsion to lease the Premises, would agree upon at arm’s length as Base Rent payable by Tenant for the Premises during an Extension Term shall be the Prevailing Market Rate (as defined below) for the PremisesExtension Term, valued as of the commencement of such the Extension Term. The Prevailing Market Rate shall be based upon non-sublease, determined non-encumbered, non-equity lease transactions recently entered into for space in the manner hereinafter provided. As used herein, the term “Prevailing Market Rate” shall mean the annual Base Rent that a willing tenant would pay, Building and that a willing landlord would accept, at arm’s length, for space comparable to the Premises within other comparable first class office buildings having more than two (2) stories located in the area including and bounded by South San Francisco to the north and Sunnyvale to the south (the “Comparable Buildings”), based upon binding lease transactions for tenants in Comparable Buildings (“Comparable Comparison Leases”)) and may include periodic increases. Comparable Leases shall include renewal and new non-renewal tenancies, but shall exclude subleases and leases of space subject to another tenant’s expansion rights. Rent Rental rates payable under Comparable Comparison Leases shall be adjusted to account for variations between this Lease and the Comparable Comparison Leases with respect to: (ai) the length of the Extension Term compared to the lease term of the Comparable Comparison Leases; (bii) the rental structure, including, without limitation, rental rates per rentable square foot (including whether gross or netadditional rent, and if gross, adjusting for taking into consideration any “base year or expense stop), additional rental, all other payments and escalationsyear”; (ciii) the size of the Premises compared to the size of the premises of under the Comparable Comparison Leases; (div) the utility, location, floor levels levels, views and efficiencies of the floor(s) of the Premises compared to the premises of under the Comparable LeaseComparison Leases; (e) free rent, moving expenses and other cash payments, allowances or other monetary concessions affecting the rental rate; (fv) the age and quality of construction of the Building compared to the Comparable Building; (gvi) the leasehold improvements and/or allowances, including the amounts thereof in renewal leases, and taking into account, in the case of renewal leases (including this Lease), the value of existing leasehold improvements improvements; and (vii) the financial condition and credit history of Tenant compared to the renewal tenanttenants under the Comparison Leases. In determining the Prevailing Market Rate, (h) access and proximity no consideration shall be given to Caltrain, (i) the amenities available any rental abatement period granted to tenants in Comparison Leases in connection with the Building compared to amenities available to tenants design and construction of tenant improvements, (ii) whether Landlord or the landlords under Comparison Leases are paying real estate brokerage commissions in Comparable Buildings; (j) the energy efficiencies and environmental elements connection with Tenant’s exercise of the Building compared to Comparable Buildings, including improvements required for Extension Option or in connection with the U.S. Green Building Council’s Leadership in Energy and Environmental Design (“LEED”) certification, (k) the brokerage commissions, (l) the availability of parking, the parking ratio and parking chargesComparison Leases, and (miii) the relative market rent rates within the geographic area referenced in the definition of moving allowances paid. As used herein, “Comparable Buildings” mean those buildings located in Pasadena, California of the same or similar age, quality, tenant mix, parking, views, and the like.

Prevailing Market Rate. The Base Minimum Rent payable by Tenant for the Leased Premises during an Extension Term shall be the Prevailing Market Rate (as defined below) for the Leased Premises, valued as of the commencement of such Extension Term, determined in the manner hereinafter provided. As used herein, the term “Prevailing Market Rate” shall mean the annual Base Minimum Rent that a willing tenant would pay, and that a willing landlord would accept, at arm’s length, for space comparable to the Leased Premises within other comparable first class office buildings having more than two (2) stories and comparable parking located in the area including West San Xxxx, Cupertino, Los Gatos and bounded by South San Francisco to the north and Sunnyvale to the south Campbell, California submarkets (the “Comparable Comparison Buildings”), based upon binding lease transactions for tenants in Comparable Comparison Buildings (“Comparable Comparison Leases”)) entered into within twelve (12) months prior to the date of the determination of such Minimum Rent. Comparable Comparison Leases shall include renewal and new non-renewal tenancies, but shall exclude subleases and leases of space subject to another tenant’s expansion rights. Rent rates payable under Comparable Comparison Leases shall be adjusted to account for variations between this Lease and the Comparable Comparison Leases with respect to: (a) the length of the Extension Term compared to the lease term of the Comparable Comparison Leases; (b) the rental structure, including, without limitation, rental rates per rentable square foot (including whether gross or net, and if gross, adjusting for base year or expense stop), free rent additional rental, all other payments and escalations; (c) the size of the Leased Premises compared to the size of the premises of the Comparable Comparison Leases; (d) the location, floor levels and efficiencies of the floor(s) of the Leased Premises compared to the premises of the Comparable Comparison Lease; (e) free rent, moving expenses and other cash payments, allowances or other monetary concessions affecting the rental rate; (f) the age and quality of construction of the Building compared to the Comparable Building; (gf) the leasehold improvements and/or allowances, including the amounts thereof in renewal leases, and taking into account, in the case of renewal leases (including this Lease), the value of existing leasehold improvements to the renewal tenant, (h) access and proximity to Caltrain, (i) the amenities available to tenants in the Building compared to amenities available to tenants in Comparable Buildings; (j) the energy efficiencies and environmental elements of the Building compared to Comparable Buildings, including improvements required for the U.S. Green Building Council’s Leadership in Energy and Environmental Design (“LEED”) certification, (k) the brokerage commissions, (lg) the availability of parking, the parking ratio and parking charges, charges and (mh) the relative market rent rates within the geographic area referenced all other economic factors or concessions available to a tenant in the definition of Comparable Buildingssuch a transaction.

Prevailing Market Rate. The As used in this Lease, the phrase “Prevailing Market Rate” means the amount that a landlord under no compulsion to lease the Premises, and a tenant under no compulsion to lease the Premises, would agree upon at arm’s length as Base Rent payable by Tenant for the Premises during an Extension Term shall be the Prevailing Market Rate (as defined below) for the PremisesExtension Term, valued as of the commencement of such the Extension Term. The Prevailing Market Rate shall be based upon non-sublease, determined non-encumbered, non-equity lease transactions recently entered into for space in the manner hereinafter provided. As used herein, the term “Prevailing Market Rate” shall mean the annual Base Rent that a willing tenant would pay, Building and that a willing landlord would accept, at arm’s length, for space comparable to the Premises within other comparable first class office buildings having more than two (2) stories located in the area including and bounded by South San Francisco to the north and Sunnyvale to the south (the “Comparable Buildings”), based upon binding lease transactions for tenants in Comparable Buildings (“Comparable Comparison Leases”)) and may include periodic increases. Comparable Leases shall include renewal and new non-renewal tenancies, but shall exclude subleases and leases of space subject to another tenant’s expansion rights. Rent Rental rates payable under Comparable Comparison Leases shall be adjusted to account for variations between this Lease and the Comparable Comparison Leases with respect to: (ai) the length of the Extension Term compared to the lease term of the Comparable Comparison Leases; (bii) the rental structure, including, without limitation, rental rates per rentable square foot (including whether gross or netadditional rent, and if gross, adjusting for taking into consideration any “base year year” or “expense stop), additional rental, all other payments and escalationsstops”; (ciii) the size of the Premises compared to the size of the premises of under the Comparable Comparison Leases; (div) the utility, location, floor levels number of docks and efficiencies of the floor(s) of the Premises compared to the premises of under the Comparable LeaseComparison Leases; (e) free rent, moving expenses and other cash payments, allowances or other monetary concessions affecting the rental rate; (fv) the age and quality of construction of the Building compared to the Comparable Building; (gvi) the leasehold improvements and/or allowances, including the amounts thereof in renewal leases, and taking into account, in the case of renewal leases (including this Lease), the value of existing leasehold improvements to Tenant; and (vii) the renewal tenantfinancial condition and credit history of Tenant compared to the tenants under the Comparison Leases. In determining the Prevailing Market Rate, (h) access and proximity no consideration shall be given to Caltrain, (i) the amenities available any rental abatement period granted to tenants in Comparison Leases in connection with the Building compared to amenities available to tenants design and construction of tenant improvements, (ii) whether Landlord or the landlords under Comparison Leases are paying real estate brokerage commissions in Comparable Buildings; (j) the energy efficiencies and environmental elements connection with Tenant’s exercise of the Building compared to Comparable Buildings, including improvements required for Extension Option or in connection with the U.S. Green Building Council’s Leadership in Energy and Environmental Design (“LEED”) certification, (k) the brokerage commissions, (l) the availability of parking, the parking ratio and parking chargesComparison Leases, and (miii) the relative market rent rates within the geographic area referenced moving allowances paid. For purposes of this Article, (“Comparable Buildings”) shall mean comparable class two story office/R&D buildings in the definition of Comparable BuildingsSunnyvale market area.

Prevailing Market Rate. The Base Monthly Rent payable by Tenant for the Premises during an Extension Term shall be the Prevailing Market Rate (as defined below) for the Premises, valued as of the commencement of such Extension Term, determined in the manner hereinafter provided. As used herein, the term “Prevailing Market Rate” shall mean the annual Base Monthly Rent that a willing tenant would pay, and that a willing landlord would accept, at arm’s length, for space comparable to the Premises within other comparable first class office office/R&D buildings having more than two (2) or more stories located in the roughly triangular area including and bounded by South San Francisco to the north and Sunnyvale to the south Hxxxxxx 000, Xxxxxxxxxx 000 xxx X.X. Xxxxxxx 101 (the “Comparable Buildings”), based upon binding lease transactions for tenants in Comparable Buildings (“Comparable Leases”). Comparable Leases shall include renewal and new non-renewal tenancies, but shall exclude subleases and leases of space subject to another tenant’s expansion rights. Rent rates payable under Comparable Leases shall be adjusted to account for variations between this Lease and the Comparable Leases with respect to: (a) the length of the Extension Term compared to the lease term of the Comparable Leases; (b) the rental structure, including, without limitation, rental rates per rentable square foot (including whether gross or net, and if gross, adjusting for base year or expense stop), additional rental, all other payments and escalations; (c) the size of the Premises compared to the size of the premises of the Comparable Leases; (d) the scale of the Project and the availability and adjacency of expansion space compared to the same of the Comparable Leases; (e) the location, floor levels and efficiencies of the floor(s) of the Premises compared to the premises of the Comparable Lease; (ef) free rent, moving expenses and other cash payments, allowances or other monetary concessions affecting the rental raterate payable under Comparable Leases; (fg) the age and quality of construction of the Building compared to the Comparable Building; (gh) the leasehold improvements and/or allowances, including the amounts thereof in renewal leases, and taking into account, in the case of renewal leases (including this Lease), the value of existing leasehold improvements to the renewal tenant, (h) access and proximity to Caltrain, ; (i) the amenities available to tenants in the Building compared to amenities available to tenants in Comparable Buildings; (j) the energy efficiencies and environmental elements of the Building compared to Comparable Buildings, including improvements required for the U.S. Green Building Council’s Leadership in Energy and Environmental Design (“LEED”) certification, (k) the brokerage commissions, commissions payable with respect to Comparable Leases and this Lease and (l) the availability of parking, the parking ratio and parking charges, and (m) charges with respect to the relative market rent rates within Building compared to the geographic area referenced in the definition of Comparable BuildingsBuilding.

Prevailing Market Rate. The As used in this Lease, the phrase "Prevailing Market Rate" means the amount that a landlord under no compulsion to lease the Premises, and a tenant under no compulsion to lease the Premises, would agree upon at arm's length as Base Rent payable by Tenant for the Premises during an Extension Term shall be the Prevailing Market Rate (as defined below) for the PremisesExtended Term, valued as of the commencement of such Extension the Extended Term. The Prevailing Market Rate shall be based upon non- sublease, determined non-encumbered, non-equity lease transactions recently entered into for space in the manner hereinafter providedBuilding and in comparable buildings ("Comparison Leases") and may include periodic increases. As used herein, the term “Prevailing Market Rate” shall mean the annual Base Rent that a willing tenant would pay, and that a willing landlord would accept, at arm’s length, for space comparable to the Premises within other comparable first class office buildings having more than two (2) stories located in the area including and bounded by South San Francisco to the north and Sunnyvale to the south (the “Comparable Buildings”), based upon binding lease transactions for tenants in Comparable Buildings (“Comparable Leases”). Comparable Leases shall include renewal and new non-renewal tenancies, but shall exclude subleases and leases of space subject to another tenant’s expansion rights. Rent Rental rates payable under Comparable Comparison Leases shall be adjusted to account for variations between this Lease and the Comparable Comparison Leases with respect to: (ai) the length of the Extension Extended Term compared to the lease term of the Comparable Comparison Leases; (bii) the rental structure, including, without limitation, rental rates per rentable square foot (including whether gross or netadditional rent, and if gross, adjusting for taking into consideration any "base year year" or "expense stop), additional rental, all other payments and escalationsstops"; (ciii) the size of the Premises compared to the size of the premises of under the Comparable Comparison Leases; (div) the utility, location, floor levels number of docks and efficiencies of the floor(s) of the Premises compared to the premises of under the Comparable LeaseComparison Leases; (e) free rent, moving expenses and other cash payments, allowances or other monetary concessions affecting the rental rate; (fv) the age and quality of construction of the Building compared to the Comparable Building; (gvi) the leasehold improvements and/or allowances, including the amounts thereof in renewal leases, and taking into account, in the case of renewal leases (including this Lease), the value of existing leasehold improvements to Tenant; and (vii) the renewal tenantfinancial condition and credit history of Tenant compared to the tenants under the Comparison Leases. In determining the Prevailing Market Rate, (h) access and proximity no consideration shall be given to Caltrain, (i) the amenities available any rental abatement period granted to tenants in Comparison Leases in connection with the Building compared to amenities available to tenants design and construction of tenant improvements, (ii) whether Landlord or the landlords under Comparison Leases are paying real estate brokerage commissions in Comparable Buildings; (j) the energy efficiencies and environmental elements connection with Tenant's exercise of the Building compared to Comparable Buildings, including improvements required for Extension Option or in connection with the U.S. Green Building Council’s Leadership in Energy and Environmental Design (“LEED”) certification, (k) the brokerage commissions, (l) the availability of parking, the parking ratio and parking chargesComparison Leases, and (miii) the relative market rent rates within the geographic area referenced in the definition of Comparable Buildingsmoving allowances paid.

Prevailing Market Rate. The As used in this Lease, the phrase “Prevailing Market Rate” means the amount that a landlord under no compulsion to lease the Premises, and a tenant under no compulsion to lease the Premises, would agree upon at arm’s length as Base Rent payable by Tenant for the Premises during an Extension Term shall be the Prevailing Market Rate (as defined below) for the PremisesExtension Term, valued as of the commencement of such the Extension Term. The Prevailing Market Rate shall be based upon non-sublease, determined non-encumbered, non-equity lease transactions recently entered into for space in the manner hereinafter provided. As used herein, the term “Prevailing Market Rate” shall mean the annual Base Rent that a willing tenant would pay, Building and that a willing landlord would accept, at arm’s length, for space comparable to the Premises within other comparable first class office buildings having more than two (2) stories located in the area including and bounded by South San Francisco to the north and Sunnyvale to the south (the “Comparable Buildings”), based upon binding lease transactions for tenants in Comparable Buildings (“Comparable Comparison Leases”)) and may include periodic increases. Comparable Leases shall include renewal and new non-renewal tenancies, but shall exclude subleases and leases of space subject to another tenant’s expansion rights. Rent Rental rates payable under Comparable Comparison Leases shall be adjusted to account for variations between this Lease and the Comparable Comparison Leases with respect to: (ai) the length of the Extension Term compared to the lease term of the Comparable Comparison Leases; (bii) the rental structure, including, without limitation, rental rates per rentable square foot (including whether gross or netadditional rent, and if gross, adjusting for taking into consideration any “base year year” or “expense stop), additional rental, all other payments and escalationsstops”; (ciii) the size of the Premises compared to the size of the premises of under the Comparable Comparison Leases; (div) the utility, location, floor levels level, views, and efficiencies of the floor(s) of the Premises compared to the premises of under the Comparable LeaseComparison Leases; (e) free rent, moving expenses and other cash payments, allowances or other monetary concessions affecting the rental rate; (fv) the age and quality of construction of the Building compared to the Comparable Building; (gvi) the leasehold improvements and/or allowances, including the amounts thereof in renewal leases, and taking into account, in the case of renewal leases (including this Lease), the value of existing leasehold improvements to the renewal tenant, Tenant; (h) access and proximity to Caltrain, (ivii) the amenities available to tenants in the Building financial condition and credit history of Tenant compared to amenities available to the tenants in Comparable Buildings; (j) under the energy efficiencies and environmental elements of the Building compared to Comparable Buildings, including improvements required for the U.S. Green Building Council’s Leadership in Energy and Environmental Design (“LEED”) certification, (k) the brokerage commissions, (l) the availability of parking, the parking ratio and parking chargesComparison Leases, and (mviii) any other relevant economic factors. For purposes of this Paragraph, Comparable Buildings shall include, but not be limited to: Xxxx America Corporate Center; Hacienda Terrace; Dublin Corporate Center; and Stoneridge Corporate Plaza. This option is personal to the relative market rent rates within original Tenant under the geographic area referenced in the definition of Comparable BuildingsLease or a Permitted Transferee.