RENT DURING EXTENSION TERM. The initial Monthly Base Rent during the Extension Term shall be the Fair Market Rental Value for the Premises as of the commencement of the Extension Term, as determined below (and such initial Monthly Base Rent shall be subject to annual increases of 3% during the Extension Term):
RENT DURING EXTENSION TERM. The initial Monthly Base Rent (subject to Paragraph 3(b)) during each five (5) year Extension Term shall be the greater of the Base Rent paid during the last month of the immediately preceding Term or the Fair Market Rental Value for the Premises as of the commencement of the option term, as determined below:
RENT DURING EXTENSION TERM. (a) If Tenant exercises the right to extend the Term of this Lease as herein provided, then no later than one hundred twenty (120) days prior to the first day of the Extension Term, Landlord shall deliver its Proposed Rental Rate. If Tenant does not object to Landlord’s Proposed Rental Rate within thirty (30) days after receipt of Landlord’s notice of Proposed Rental Rate, then Tenant shall be deemed to have accepted the Proposed Rental Rate. If Tenant does timely object to Landlord’s Proposed Rental Rate, then the parties will submit the matter to the appraisal process set forth in Section 4.1(d) above.
RENT DURING EXTENSION TERM. The Monthly Base Rent during the seven-year Extension Term shall be the greater of the Base Rent paid during the last month of the immediately preceding Term or the Fair Market Rental Value for the Premises as of the commencement of the option term as determined below:
RENT DURING EXTENSION TERM. The Base Rent payable by Tenant during each Extension Term shall be equal to ninety -five percent (95%) of the Market Rent, and shall have no floor. “Market Rent” shall mean the applicable base rent (taking into account all escalations, additional rent and other charges) that tenants, as of the commencement of the Extension Term, are paying for new, direct leases in an arm’s-length transaction with a seven year term for non-renewal, non-expansion, non-sublease, non-equity space that is comparable in size, location and quality to the Premises, and located in buildings or projects comparable to the Project in the North Downtown Seattle, Xxxxx Triangle and South Lake Union submarkets of Seattle. The determination of Market Rent shall take into consideration the value of the existing improvements in the Premises not paid for by Tenant, as compared to the value of the existing improvements in such comparable space, with such value to be based upon the age, quality and layout of the improvements (without taking into account non-standard, specialty improvements made by Tenant). Brokerage commissions shall not be considered in establishing Market Rent. The credit of Tenant (and guarantors, if any) shall be taken into account. Sublease and expansion transactions shall not be considered in establishing Market Rent. Landlord cannot be compelled to pay any concessions or allowances to Tenant during the Extension Term. Market Rent shall include periodic or annual increases if such increases are consistent with then-existing market conditions.
RENT DURING EXTENSION TERM. Commencing on the first day of the Extension Term, Tenant shall pay to Landlord throughout the Extension Term Base Rent in the amount determined pursuant to this Paragraph 44. The Monthly Base Rent during the five-year Extension Term shall be the greater of the Base Rent paid during the last month of the immediately preceding Term or ninety-five percent (95%) of the Fair Market Rental Value for the Premises as of the commencement of the Extension Term, with the Fair Market Rental Value as determined below:
RENT DURING EXTENSION TERM. The Monthly Base Rent during the Extension Term shall be the greater of the Monthly Base Rent paid during the last month of the initial Term or at ninety-five percent (95%) of the Fair Market Rental Value for the Premises as of the commencement of the Extension Term, as determined in accordance with Paragraph 43(a) of the Master Lease; provided that the references to “eighteen (18) months” in said Paragraph 43(a) shall be modified to be “one hundred eighty (180) days”. On each anniversary of the commencement date of the Extension Term, the Monthly Base Rent shall increase by four percent (4%) of the Monthly Base Rent for the immediately prior year.
RENT DURING EXTENSION TERM. The rent payable pursuant to -------------------------- Paragraph 3 of the Lease during the five (5) year Extension Term shall be greater of the Rent paid during the last month of the immediately preceding Term or the Fair Market Rental Value for the Premises as of the commencement of the option term, as determined below:
RENT DURING EXTENSION TERM. Base Rent during the Extension Term shall be as set forth in the following table: Dates Per SF Monthly 1/1/2016 to 12/31/2016 $ 1.367 $ 68,374.66 1/1/2017 to 12/31/2017 $ 1.409 $ 70,425.90 1/1/2018 to 12/31/2018 $ 1.451 $ 72,538.68
RENT DURING EXTENSION TERM. The monthly Base Rent during the Extension Term shall be the greater of (i) $15,156.25 ($1.25 per rentable square foot), or (ii) Fair Market Rental Value for the Premises as of the commencement of the Extension Term, as determined below:
