Common use of USE OF NET EQUIVALENT LEASE RATES FOR COMPARABLE TRANSACTIONS Clause in Contracts

USE OF NET EQUIVALENT LEASE RATES FOR COMPARABLE TRANSACTIONS. The Net Equivalent Lease Rates for the Comparable Transactions shall then be used to reconcile, in a manner usual and customary for a real estate appraisal process, to a conclusion of Market Rent which shall be stated as a “NNN” lease rate applicable to each year of the Option Term. EXHIBIT F EXHIBIT G FORM OF LETTER OF CREDIT (Letterhead of a money center bank acceptable to the Landlord) FAX NO. [( ) - ] [Insert Bank Name And Address] SWIFT: [Insert No., if any] DATE OF ISSUE: BENEFICIARY: APPLICANT: [Insert Beneficiary Name And Address] [Insert Applicant Name And Address] LETTER OF CREDIT NO. EXPIRATION DATE: AMOUNT AVAILABLE: AT OUR COUNTERS USD[Insert Dollar Amount] (U.S. DOLLARS [Insert Dollar Amount]) LADIES AND GENTLEMEN: WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. IN YOUR FAVOR FOR THE ACCOUNT OF [Insert Tenant’s Name], A [Insert Entity Type], UP TO THE AGGREGATE AMOUNT OF USD[Insert Dollar Amount] ([Insert Dollar Amount] U.S. DOLLARS) EFFECTIVE IMMEDIATELY AND EXPIRING ON (Expiration Date) AVAILABLE BY PAYMENT UPON PRESENTATION OF YOUR DRAFT AT SIGHT DRAWN ON [Insert Bank Name] WHEN ACCOMPANIED BY THE FOLLOWING DOCUMENT(S):

Appears in 2 contracts

Samples: Office Lease (Appdynamics Inc), Office Lease (Appdynamics Inc)

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USE OF NET EQUIVALENT LEASE RATES FOR COMPARABLE TRANSACTIONS. The Net Equivalent Lease Rates for the Comparable Transactions shall then be used to reconcile, in a manner usual and customary for a real estate appraisal process, to a conclusion of Market Rent which shall be stated as a “NNN” lease rate Net Equivalent Lease Rate applicable to each year of the Option Term. EXHIBIT F G EXHIBIT G H INTENTIONALLY OMITTED EXHIBIT I EXHIBIT I FORM OF LETTER OF CREDIT (Letterhead of a money center bank acceptable to the Landlord) FAX NO. [( ) - ] [Insert Bank Name And Address] SWIFT: [Insert No., if any] [Insert Bank Name And Address] DATE OF ISSUE: BENEFICIARY: Xxxxxx Realty Finance Partnership, L.P. c/o Kilroy Realty Corporation 12200 Xxxx Xxxxxxx Xxxxxxxxx, Xxxxx 000 Xxx Xxxxxxx, Xxxxxxxxxx 00000 Attention: Legal Department APPLICANT: [Insert Beneficiary Name And Address] [Insert Applicant Name And Address] Fax: (000) 000-0000 LETTER OF CREDIT NO. EXPIRATION DATE: AT OUR COUNTERS AMOUNT AVAILABLE: AT OUR COUNTERS USD[Insert Dollar Amount] (U.S. DOLLARS [Insert Dollar Amount]) LADIES AND GENTLEMEN: WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. IN YOUR FAVOR FOR THE ACCOUNT OF [Insert Tenant’s Name], A [Insert Entity Type], UP TO THE AGGREGATE AMOUNT OF USD[Insert Dollar Amount] ([Insert Dollar Amount] U.S. DOLLARS) EFFECTIVE IMMEDIATELY AND EXPIRING ON (Expiration Date) AVAILABLE BY PAYMENT UPON PRESENTATION OF YOUR DRAFT AT SIGHT DRAWN ON [Insert Bank Name] WHEN ACCOMPANIED BY THE FOLLOWING DOCUMENT(S):

Appears in 2 contracts

Samples: Office Lease (Dropbox, Inc.), Office Lease (Dropbox, Inc.)

USE OF NET EQUIVALENT LEASE RATES FOR COMPARABLE TRANSACTIONS. The Net Equivalent Lease Rates for the Comparable Transactions shall then be used to reconcile, in a manner usual and customary for a real estate appraisal process, to a conclusion of Market Rent which shall be stated as a “NNN” lease rate Net Equivalent Lease Rate applicable to each year of the Option Term or First Offer Term, as applicable. EXHIBIT F EXHIBIT G FORM OF LETTER OF CREDIT (Letterhead This Exhibit G is referenced in Section 31.1 of that certain Office Lease dated as of April 8, 2016, by and between CHINA BASIN/SAN FRANCISCO, LLC, a money center bank acceptable to the Landlord) Delaware limited liability company, and LYFT, INC., a Delaware corporation. FAX NO. [( (___) - ] [Insert Bank Name And Address___-____] SWIFT: [Insert No., if any] [Insert Bank Name And Address] DATE OF ISSUE: BENEFICIARY: APPLICANT: [Insert Beneficiary Name And Address] APPLICANT: [Insert Applicant Name And Address] LETTER OF CREDIT NO. EXPIRATION DATE: AT OUR COUNTERS AMOUNT AVAILABLE: AT OUR COUNTERS USD[Insert Dollar Amount] (U.S. DOLLARS [Insert Dollar Amount]) LADIES AND GENTLEMEN: WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. IN YOUR FAVOR FOR THE ACCOUNT OF [Insert Tenant’s Name], A [Insert Entity Type], UP TO THE AGGREGATE AMOUNT OF USD[Insert Dollar Amount] ([Insert Dollar Amount] U.S. DOLLARS) EFFECTIVE IMMEDIATELY AND EXPIRING ON (Expiration Date) WHICH WE UNDERSTAND COVERS certain Office Lease dated as of , 2016 by and between CHINA BASIN/SAN FRANCISCO, LLC, a Delaware limited liability company, and LYFT, INC., a Delaware corporation. FUNDS UNDER THIS LETTER OF CREDIT ARE AVAILABLE BY PAYMENT AT SIGHT WITH JPMORGAN CHASE BANK, N.A. UPON PRESENTATION OF YOUR DRAFT AT SIGHT DRAWN ON [Insert Bank Name] WHEN ACCOMPANIED BY THE FOLLOWING DOCUMENT(S):DOCUMENTS:

Appears in 2 contracts

Samples: Office Lease (Lyft, Inc.), Office Lease (Lyft, Inc.)

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USE OF NET EQUIVALENT LEASE RATES FOR COMPARABLE TRANSACTIONS. The Net Equivalent Lease Rates for the Comparable Transactions shall then be used to reconcile, in a manner usual and customary for a real estate appraisal process, to a conclusion of Market Rent which shall be stated as a “NNN” lease rate Net Equivalent Lease Rate applicable to each year of the Option Term. EXHIBIT F EXHIBIT G PRELIMINARY DEVELOPMENT COSTS BUDGET EXHIBIT G EXHIBIT H [INTENTIONALLY OMITTED] EXHIBIT H EXHIBIT I APPROVED FORM OF LETTER OF CREDIT (Letterhead of a money center bank acceptable to the Landlord) FAX NOBENEFICIARY: HCPI/SORRENTO, LLC C/O HCP, INC. [( ) - ] [Insert Bank Name And Address] SWIFT0000 XXXX XXXXXX, XXXXX 0000 XXXXXX, XXXXXXXXXX, 00000 ATTENTION: [Insert No., if any] DATE OF ISSUELEGAL DEPARTMENT LADIES AND GENTLEMEN: BENEFICIARYAT THE REQUEST OF: APPLICANT: [Insert Beneficiary Name And Address] [Insert Applicant Name And Address] NUVASIVE, INC. WE HEREBY ISSUE IN YOUR FAVOR OUR IRREVOCABLE CREDIT NO. ___________________ FOR THE ACCOUNT OF NUVASIVE, INC. FOR AN AMOUNT OF $1,350,000.00 (ONE MILLION THREE HUNDRED FIFTY THOUSAND DOLLARS) AVAILABLE BY YOUR DRAFTS AT SIGHT ON _______________ BANK, N.A. EFFECTIVE IMMEDIATELY AND EXPIRING AT OUR OFFICE ON AUGUST 31, 2018. WE ARE INFORMED THIS LETTER OF CREDIT IS ISSUED RELATIVE TO THE LEASE AGREEMENT FOR SORRENTO SUMMIT DATED AUGUST 28, 2017, INCLUDING ANY AMENDMENTS AND RESTATEMENTS THERETO, BETWEEN NUVASIVE, INC., AS TENANT, AND HCPI/SORRENTO, LLC AS LANDLORD (THE “LEASE”) FOR PREMISES LOCATED AT 7473 AND 0000 XXXX XXXXXXXXX, SAN DIEGO, CALIFORNIA 92121, AND AT THAT CERTAIN TO BE CONSTRUCTED BUILDING TO BE KNOWN AS THE XXXX 3 BUILDING. FUNDS UNDER THIS CREDIT ARE AVAILABLE AGAINST YOUR DRAFT(S) MARKED “DRAWN UNDER ___________ BANK, N.A. LETTER OF CREDIT NO. EXPIRATION DATE____________________” ACCOMPANIED BY THE FOLLOWING: BENEFICIARY’S SIGNED AND DATED STATEMENT READING AS FOLLOWS: “IN ACCORDANCE WITH THE LEASE AGREEMENT FOR SORRENTO SUMMIT DATED AUGUST 28, 2017, INCLUDING ANY AMENDMENTS AND RESTATEMENTS THERETO, BETWEEN NUVASIVE, INC., AS TENANT, AND HCPI/SORRENTO, LLC AS LANDLORD (THE “LEASE”), THE UNDERSIGNED AS THE CURRENT LANDLORD UNDER THE LEASE IS ENTITLED TO AND HEREBY DEMANDS PAYMENT UNDER ____________________ BANK, N.A. LETTER OF CREDIT NO ____________________ IN THE AMOUNT AVAILABLE: AT OUR COUNTERS USD[Insert Dollar AmountOF U.S. $___________________ .” OR “THE UNDERSIGNED, [SUCCESSOR TO] HCPI/SORRENTO, LLC (U.S. DOLLARS [Insert Dollar Amount]“CREDITOR”) LADIES AND GENTLEMEN: WE HEREBY ESTABLISH OUR IRREVOCABLE STANDBY IS IN RECEIPT OF NOTICE FROM _________________ BANK, N.A. THAT LETTER OF CREDIT NO. _____________________ WILL NOT BE EXTENDED BEYOND ITS CURRENT EXPIRATION DATE AND THE UNDERSIGNED HAS NOT RECEIVED ACCEPTABLE REPLACEMENT SECURITY. THE UNDERSIGNED IS ENTITLED TO AND HEREBY DEMANDS PAYMENT UNDER _______________ BANK, N.A. LETTER OF CREDIT NO. _____________________ IN YOUR FAVOR THE AMOUNT OF U.S. $____________________.” PARTIAL DRAWING AND MULTIPLE PRESENTATIONS ARE PERMITTED. PRESENTATION OF A DRAWING UNDER THIS LETTER OF CREDIT MAY BE MADE BY HAND DELIVERY, COURIER SERVICE, OVERNIGHT MAIL, OR FACSIMILE. PRESENTATION BY FACSIMILE TRANSMISSION SHALL BE BY TRANSMISSION OF THE ABOVE REQUIRED SIGHT DRAFT DRAWN ON US TOGETHER EXHIBIT I WITH THIS LETTER OF CREDIT TO OUR FACSIMILE NUMBER, [INSERT FAX NUMBER – (___) ___-____], ATTENTION: [INSERT APPROPRIATE RECIPIENT], WITH TELEPHONIC CONFIRMATION OF OUR RECEIPT OF SUCH FACSIMILE TRANSMISSION AT OUR TELEPHONE NUMBER [INSERT TELEPHONE NUMBER – (___) ___-____] OR TO SUCH OTHER FACSIMILE OR TELEPHONE NUMBERS, AS TO WHICH BENEFICIARY HAS RECEIVED WRITTEN NOTICE FROM US AS BEING THE APPLICABLE SUCH NUMBER. WE AGREE TO NOTIFY BENEFICIARY IN WRITING, BY NATIONALLY RECOGNIZED OVERNIGHT COURIER SERVICE, OF ANY CHANGE IN SUCH DIRECTION. ANY FACSIMILE PRESENTATION PURSUANT TO THIS PARAGRAPH SHALL ALSO STATE THEREON THAT THE ORIGINAL OF SUCH SIGHT DRAFT AND LETTER OF CREDIT ARE BEING REMITTED, FOR DELIVERY ON THE NEXT BUSINESS DAY, TO [INSERT BANK NAME] AT THE APPLICABLE ADDRESS FOR PRESENTMENT PURSUANT TO THE PARAGRAPH FOLLOWING THIS ONE. IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT SHALL BE DEEMED AUTOMATICALLY EXTENDED FOR ONE YEAR FROM THE PRESENT OR ANY FUTURE EXPIRATION DATE, UNLESS AT LEAST SIXTY (60) DAYS PRIOR TO THIS OR ANY FUTURE EXPIRATION DATE WE SEND NOTICE TO YOU BY REGISTERED MAIL, RETURN RECEIPT REQUESTED, OR BY HAND DELIVERED COURIER THAT WE ELECT NOT TO CONSIDER THIS LETTER OF CREDIT EXTENDED FOR ANY SUCH ADDITIONAL PERIOD. THIS LETTER OF CREDIT IS TRANSFERRABLE ONE OR MORE TIMES AND ONLY IN ITS ENTIRETY, PROVIDED THAT SUCH TRANSFER WOULD NOT VIOLATE ANY GOVERNMENTAL RULE, ORDER, OR REGULATION, SUBJECT TO OUR RECEIPT OF BENEFICIARY'S INSTRUCTIONS IN THE FORM ATTACHED HERETO AS EXHIBIT A, ACCOMPANIED BY THE ORIGINAL LETTER OF CREDIT AND AMENDMENT(S) IF ANY. COSTS OR EXPENSES OF SUCH TRANSFER SHALL BE FOR THE ACCOUNT OF [Insert Tenant’s Name]THE APPLICANT. WE HEREBY ENGAGE WITH YOU THAT DRAFTS DRAWN UNDER AND IN COMPLIANCE WITH THE TERMS AND CONDITIONS OF THIS CREDIT WILL BE DULY HONORED UPON PRESENTATION AT OUR COUNTERS AT ____________________________________ ON OR BEFORE THE EXPIRATION DATE HEREOF. THE ORIGINAL LETTER OF CREDIT OR A CERTIFIED COPY MUST ACCOMPANY THE DOCUMENTS PRESENTED UNDER THIS LETTER OF CREDIT. THIS LETTER OF CREDIT SETS FORTH IN FULL THE TERMS OF OUR UNDERTAKING, A [Insert Entity Type]AND SUCH UNDERTAKING SHALL NOT IN ANY WAY BE MODIFIED, UP AMENDED OR AMPLIFIED BY REFERENCE TO ANY DOCUMENT, INSTRUMENT OR AGREEMENT REFERRED TO HEREIN OR IN WHICH THIS LETTER OF CREDIT REFERRED TO OR TO WHICH THIS LETTER OF CREDIT RELATES, AND ANY REFERENCES SHALL NOT BE DEEMED TO INCORPORATE HEREIN BY REFERENCE ANY DOCUMENT, INSTRUMENT OR AGREEMENT. THE OBLIGATION OF __________ BANK, N.A. UNDER THIS LETTER OF CREDIT IS THE INDIVIDUAL OBLIGATION OF _________ BANK, N.A. AND IS IN NO WAY CONTINGENT UPON REIMBURSEMENT WITH RESPECT THERETO. EXCEPT AS EXPRESSLY STATED HEREIN, THIS LETTER OF CREDIT IS SUBJECT TO THE AGGREGATE AMOUNT INTERNATIONAL STANDBY PRACTICE 1998, INTERNATIONAL CHAMBER OF USD[Insert Dollar Amount] COMMERCE PUBLICATION NO 590 ([Insert Dollar Amount] U.S. DOLLARS) EFFECTIVE IMMEDIATELY AND EXPIRING ON (Expiration Date) AVAILABLE BY PAYMENT UPON PRESENTATION “ISP98”). PLEASE ADDRESS ALL CORRESPONDENCE REGARDING THIS LETTER OF YOUR DRAFT CREDIT TO THE ATTENTION OF THE STANDBY LETTER OF CREDIT UNIT ________________________________________________, INCLUDING THE LETTER OF CREDIT NUMBER MENTIONED ABOVE. FOR TELEPHONE ASSISTANCE, PLEASE CONTACT THE STANDBY CLIENT SERVICE UNIT AT SIGHT DRAWN ON [Insert Bank Name] WHEN ACCOMPANIED BY THE FOLLOWING DOCUMENT(S):__________________________________. VERY TRULY YOURS, EXHIBIT I LEASE SORRENTO SUMMIT HCPI/SORRENTO, LLC, a Delaware limited liability company, as Landlord, and NUVASIVE, INC., a Delaware corporation, as Tenant August 28, 2017 TABLE OF CONTENTS Page

Appears in 1 contract

Samples: Sorrento Summit (Nuvasive Inc)

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