Common use of Second Review Clause in Contracts

Second Review. If, after review of leases within the Comparable Buildings meeting the Size Threshold and executed during the Comparison Period, there are fewer than six (6) Qualifying Comparable Leases (as defined utilizing the Comparable Lease Criteria) identified following the Initial Review, then Lessor and Lessee shall make adjustments to the Comparison Period (as provided below) in an attempt to identify sufficient additional Comparable Leases to be added to the Qualifying Comparable Leases identified during the Initial Review to reach six (6) Qualifying Comparable Leases (this second review conducted by Lessee and Lessor shall be referred to herein as the “Second Review” and each Comparable Lease identified during this Second Review shall constitute a Qualifying Comparable Lease notwithstanding the fact that the Comparison Period has been so adjusted). During the Second Review, the Comparison Period shall be expanded in two (2) month increments, for each increment adding one (1) month at each end of the Comparison Period, until there are sufficient additional Comparable Leases identified during such Second Review when added to the Qualifying Comparable Leases identified during the Initial Review so that there are at least six (6) Qualifying Comparable Leases; provided, however, in no event shall the Comparison Period be expanded to exceed twenty-four (24) months in length. Third Review: If the Comparison Period has been expanded to twenty-four (24) months and there continue to be fewer than six (6) Qualifying Comparable Leases identified following the Second Review, then Lessor and Lessee shall make adjustments to the Size Threshold (as provided below) in an attempt to identify sufficient additional Comparable Leases to be added to the Qualifying Comparable Leases identified during the Initial Review and the Second Review to reach six (6) Qualifying Comparable Leases (this third review conducted by Lessee and Lessor shall be referred to herein as the “Third Review” and each Comparable Lease identified during this Third Review shall constitute a Qualifying Comparable Lease notwithstanding the fact that the Size Threshold is adjusted as provided herein). During the Third Review, the original twelve (12) month Comparison Period shall be reinstated and the Size Threshold shall be reduced in increments of one thousand (1,000) rentable square feet until there are sufficient additional Comparable Leases identified during such Third Review when added to the Qualifying Comparable Leases identified during the Initial Review and the Second Review so that there are at least six (6) Qualifying Comparable Leases; provided, however, that in no event shall the Size Threshold be reduced below twenty-thousand (20,000) rentable square feet.