Comparable Space definition

Comparable Space means similar space in office buildings in the central business district of Chicago where the Building is located, which are comparable to the Building in reputation, quality, age, size, location, and level and quality of services provided, and which have similar occupancy of the Building, but excluding those leases where tenants have an equity interest in the building.

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Comparable Space means office and lab space that is (i) comparable in size, location, and quality to the Premises; (ii) leased for a term comparable to the Option Term; (iii) with respect to the portion of the Premises used for office purposes, located in the Building or other comparable office buildings in the “South of Market” vicinity of the Building; and (iv) with respect to the portion of the Premises used for lab purposes, located in comparable lab space in San Francisco, or if less than three (3) comparable lab spaces are available in San Francisco at the time of determination of the Market Rate, then comparable lab space in San Francisco and South San Francisco. In determining the Market Rate, the parties shall include all escalations and take into consideration (a) free rent and other rental abatement concessions, if any, being granted to tenants in connection with the Comparable Space; and (b) tenant improvements or allowances provided or to be provided for the Comparable Space, taking into account the value of the existing improvements in the Premises to Tenant, based on age, quality, and layout of the improvements. The Market Rate for an Option Term shall be calculated pursuant to Section 3.03C below. Such calculations as agreed upon by Tenant and Landlord as stated below shall be final and shall not be recalculated at the actual commencement of such Option Term.

Comparable Space means a comparable amount of space (considering the standard of measurement by which square footage is measured) in comparable condition (i.e., shell or second generation) on a comparable floor and with a comparable view located in a building of comparable age and construction, with a comparable number of floors, a floor plate of comparable size and configuration and offering comparable services and amenities.

Examples of Comparable Space in a sentence

• If there is no Comparable Space in the Bank of America Building at the time, Tenant shall pay, as New Rent, whatever the fair market rent in the Bank of America Building would be if there was such Comparable Space in the Bank of America Building.

• The term “Fair Market Rent” shall mean the rent that would be paid by a willing tenant renewing its lease for Comparable Space for a term of five (5) years.

• For purposes of this Article 44, the term “Fair Market Rental Value” of the Expansion Premises is the greater of (a) the rental rate per square foot of Rentable Area of the Expansion Premises set forth in Section 2.3 hereof, or (b) the rental rate, determined in accordance with this Article 44, at which tenants are leasing Comparable Space on the Expansion Space Term Commencement Date.

• The term “Fair Market Rent” shall mean the rent that would be paid by a willing tenant entering into a new lease for Comparable Space for a term of not less than five (5) years.

• If there is no Comparable Space in the Bank of America Building, Lincoln Square, or the Lincoln Square expansion at the time, Tenant shall pay, as Expansion Space Rent, whatever the fair market rent in the Bank of America Building, Lincoln Square, or Lincoln Square expansion would be if there was such Comparable Space in the Bank of America Building, Lincoln Square, or Lincoln Square expansion.

More Definitions of Comparable Space

Comparable Space shall have the meaning ascribed to such term in Section 7.05(c);

Comparable Space means a comparable amount of office space, with at least comparable views and other amenities, located on the same floor or higher in the Building, or in the case of space not in the Building, space in such other building on the same floor or higher as the space in question in the Building, with at least comparable views and amenities.

Comparable Space means the Comparable Space as defined in Section 44 hereof.

Comparable Space means tenancies of space in the building of similar size, condition, quality, term and location (adjusted on a square foot basis in accordance with the size of the Demised Premises), and if no such "comparable space" exists, "comparable space" shall mean space of similar size, condition, quality, term and location in comparable office buildings (based on quality and location). Lessor's reasonable determination of Market Rate shall be final. Lessor shall provide Tenant with Lessors written of the Market Rate applicable to the Option Term within forty-five (45) days after its receipt of notice from Lessee.

Comparable Space means leased general office space determined in accordance with Section 3.6(f)(ii).

Comparable Space shall not include space which is subleased or subject to expansion rights of other tenants or builtout entirely or primarily as laboratory space but shall include space which is builtout entirely as office or office research and development space (or with less than half as laboratory space) notwithstanding that the Premises have been builtout to include a large portion of laboratory space.

Comparable Space means space of similar size, condition, quality, term and location in comparable office buildings (based on quality and location). Lessor's reasonable determination of Market Rate shall be final. Lessor shall provide Tenant with Lessors written of the Market Rate applicable to the Option Term within forty-five (45) days after its receipt of notice from Lessee.