Terms and Rent. If the Option is exercised, then the Base Rent during the Option Term shall be the Fair Market Rent for the Premises, as determined below. The term “Fair Market Rent” means the average annual rental, expressed as a rate per rentable square foot, that a willing tenant would pay, and that a willing landlord would accept, at arm’s length, for comparable space in Comparable Buildings (defined below), as evidenced where possible, by signed leases that commence or are to commence within six months prior to or within six months after the commencement of the Option Term (“Comparison Leases”). Comparison Leases shall not include subleases. Rental rates payable under Comparison Leases shall be appropriately adjusted to account for variations between the Lease and the Comparison Leases with respect to: (i) the length of the Option Term compared to the lease term of the Comparison Leases; (ii) the rental structure, including whether gross, industrial gross or net, and if gross, the applicable base year and pass-throughs; (iii) the size, floor level, view and other physical characteristics of the Premises compared to the size, floor level, view and other physical characteristics of the premises under the Comparison Leases; (iv) free rent, the cost of landlord build-outs and/or tenant improvement allowances; and (v) any other relevant factors, terms and conditions, including but not limited to tenant’s use and creditworthiness. As used herein, “Comparable Buildings” means similar “Class A” office buildings in the San Francisco South Financial District, which is the area bounded by Market Street (including both sides of Market Street), Fifth Street, Folsom Street and the Embarcadero.
Terms and Rent. The initial Monthly Rent for the Premises for the Extended Term shall be equal to the greater of (w) ninety-five percent (95%) of the fair market rent, as determined below, for the Premises as of the commencement of the Extended Term, or (x) an amount equal to the Monthly Rent payable during the fourteenth (14th) Lease Year of the initial Term, multiplied by the greater of (A) the lesser of (I) a fraction, the numerator of which is the Index published most recently before the first day of the fourteenth (14th) Lease Year of the initial Term, and the denominator of which is the Index published most recently before the first day of the thirteenth (13th) Lease Year of the initial Term, or (II) one hundred sixteen percent (116%), or (B) one hundred seven percent (107%). During the Extended Term the Monthly Rent shall continue to be subject to adjustment in accordance with the provisions of Paragraph 5.B below. All other terms and conditions of the Lease, as amended from time to time by the parties in accordance with the provisions of the Lease, shall remain in full force and effect and shall apply during the Extended Term; provided, however, that neither the Option to Extend nor Landlord's obligations under the Work Letter shall be of any force or effect during the Extended Term.
Terms and Rent. Lessor demises the above Premises (approximately 4,890 gross rentable square feet) for a term of thirty-six (36) months, commencing on September 1, 2015, and terminating on the anniversary date thirty-six (36) months thereafter (the “Term”). Monthly rent is $4,000, due on or before the 10th of each month. All payments shall be made to Lessor, at the address specified above.
Terms and Rent. The initial Monthly Rent for the Premises for the Extended Term shall be equal to the greater of (x) one hundred percent (100%) of the fair market rent, as determined below, for the Premises as of the commencement of the Extended Term, or (x) an amount equal to the Monthly Rent payable during the last year of the Term, multiplied by one hundred three and one fourth percent (103.25%). All other terms and conditions of the Lease, as amended from time to time by the parties in accordance with the provisions of the Lease, shall remain in full force and effect and shall apply during the Extended Term; provided, however, that neither the Option to Extend nor Landlord's obligations under the Work Letter shall be of any force or effect during the Extended Term.
Terms and Rent. The term of this lease begins and ends (a total of months).
Terms and Rent. Lessor demises the above premises for a term of 3 years, commencing on the 1st day of January, 2005 and terminating on the 31st day of December, 2007, or sooner as provided herein at the monthly rental of one hundred dollars ($100), payable in advance on the first day of each month for that month’s rental, during the term of this lease. All rental payments shall be made to Lessor at the address specified above. The lease amount is discounted from the normal market value. (Refer to Chart 1)
Terms and Rent. The initial Monthly Rent for the Premises for the Extended Term shall be equal to the greater of (w) one hundred percent (100%) of the fair market rent, as determined below, for the Premises as of the commencement of the Extended Term, or (x) an amount equal to the Monthly Rent payable during the tenth (10th) year of the Term, multiplied by the greater of (A) the lesser of (I) a fraction, the numerator of which is the Index published most recently before the tenth (10th) anniversary of the Commencement Date, and the denominator of which is the Index published most recently before the ninth (9th) anniversary of the Commencement Date, or (II) one hundred six percent (106%), or (B) one hundred three and five-tenths percent (103.5%). All other terms and conditions of the Lease, as amended from time to time by the parties in accordance with the provisions of the Lease, shall remain in full force and effect and shall apply during the Extended Term; provided, however, that neither the Option to Extend nor Landlord’s obligations under the Work Letter shall be of any force or effect during the Extended Term.
Terms and Rent. The term of this Lease shall be from to (the “Term”). The Lessee shall pay to the Lessor rent at the rate of Dollars ( ) Dollars per the “Term”, payable through payroll deduction in semi-monthly installments of Dollars ( ). Upon execution of this Lease, the Lessee shall pay to the Lessor the amount of Dollars ( ) Dollars which shall be held as security for the Lessee’s performance as herein provided and refunded to the Lessee at the end of the Term subject to the Lessee’s satisfactory compliance with the conditions hereof. This program is intended to be transitional housing and is only expected to last two years. Therefore, in the event that Lessee finds more permanent housing in the Worcester area, Lessee may request that this Lease be terminated early. Such a request shall be made in writing. The Lessor will review any such request and respond in writing within 20 days, indicating whether such request has been approved and, if so, the date of termination of this lease.
Terms and Rent. The Lessor does demise the above described premises for an initial term of five years (5) years, commencing on the first day of October, 1999, and terminating on the last day of September, 2004, or sooner as provided in this Lease Agreement. Lessee shall have the option to exercise two additional one year lease extensions with written notice to Lessor within sixty days of the end of the initial five year term and for each successive one year option. The beginning initial annual rent shall be $63,063.00, payable in equal installments of $5,255.25 per month no later than the 5th day of each month hereafter in advance of the month wherein this Lease remains in effect. The initial rent shall be increased thereafter and continue to be paid monthly as aforesaid at the increased amount as follows: The annual rent for October 1, 2000 through September 30, 2001 shall be $64,324.26, the next year $65,610.74, the next year $66,922.96, the next year $68,261.40 and the next year $69,626.63 if the option to renew is exercised and the final year $71,019.16 if the option to renew is exercised. Each time the lease is renewed, it shall be upon the same terms and continue with the same provisions as herein set forth. Any carry over where Lessee remains in possession shall be upon the terms of this lease. During the term of this lease, Lessee shall have the right of first refusal to lease any of the remaining
Terms and Rent. In consideration of the rent and covenants hereinafter reserved and contained the Landlord HEREBY GRANTS AND DEMISES unto the Tenant ALL THAT piece or parcel of land situate at Xxxx X0 Xxxxx Xxxxxxx Xxxx Swindon all which sold land is more particularly delineated on the plan annexed hereto and thereon edged with red (the "Plan") together with the buildings erected thereon or on part thereof (the "demised premises") TO HOLD the demised premises unto the Tenant from and including the date hereof for a term expiring on 5 September 2000 TOGETHER with the easements and rights specified in Schedule I Part A subject as therein mentioned EXCEPT AND RESERVED unto the Landlord and all those authorised by it the rights and easements specified in Schedule I Part B SUBJECT to the covenants and other matters contained or referred to in the documents specified in Schedule II YIELDING AND PAYING therefor unto the Landlord monthly during the said term FIRST the rent of L10.150 payable in advance by equal monthly instalments on the 15th of each month the first payment being due on 29 March 2000 for the period from 29 March 2000 to and inclusive of 14 April 2000 SECONDLY such sum as the Landlord may from time to time expend pursuant to its obligation to insure the demised premises in accordance with the provisions of clause 3.2. Such rent being payable following expenditure and within 10 working days of demand therefor by the Landlord THIRDLY to pay on demand a fair proportion of the service charge charged to the Landlord by the estate owner as defined by a Conveyance dated 31 March 1987 between (1) Xxxxxxx Properties Limited and (2) The Post Office such proportion to be determined by the Landlord's surveyor (acting properly and to be based upon a comparison of the total gross internal areas that the demised premises bear to the total gross internal area of all other lettable parts of the Landlord's estate (edged blue on the Plan) whether or not let)
