PMRR definition
PMRR has the meaning assigned to that term in the definition of “Collateral and Guarantee Requirement.”
PMRR means the Quebec register of personnel and moveable real rights.
PMRR means the annual amount of rent that a tenant would pay and a willing landlord would accept in an arm’s length bona fide offer for a lease based upon other lease transactions made in the Building and other comparable office buildings in the Central East Quadrant area of Salt Lake City, Utah, within the previous six (6) months, taking into consideration all relevant terms and conditions of any comparable leasing transaction, including without limitation: (i) location, quality and age of the building; (ii) use and size of the space in question; (iii) location and or floor level in the building; (iv) that there will be no new leasehold improvement allowances provided; (v) there will be no abatement of rental or other charges; (vi) parking; (vii) lease takeovers/assumptions; (viii) relocation allowances; (ix) there will be no refurbishment and repainting allowances; (x) distinction between “gross” and “net” leases, (xi) extent of services provided or to be provided; (xii) base year or dollar amount for escalation purposes (both operating costs and ad valorem taxes); (xiii) credit standing and financial stature of the tenant; (xiv) length of term and (xv) Landlord will not be required to pay additional brokerage fees. Each option needs to be exercised by Tenant giving Landlord written notice of exercise at least six (6) month prior to the Termination Date.
Examples of PMRR in a sentence
Within thirty days after the date that Landlord receives written notice of Tenant's interest in exercising its Option to Extend, Landlord shall give Tenant written notice of its determination of the PMRR and the Base Rent for the Option Term.
If Tenant exercises either Option to Extend, the Base Rent for the Premises during each Option Term shall be equal to 95% of the then prevailing market rental rate in Comparable Buildings (the "PMRR"); the PMRR shall not take into account any leasehold improvement work paid for by Tenant, and no rate "floor" will be established.
More Definitions of PMRR
PMRR means the annual amount of rent that a tenant would pay and a willing landlord would accept in an arm’s length bona fide offer for a lease based upon other lease transactions made in the Building and other comparable office buildings in the Central East Quadrant area of Salt Lake City, Utah, within the previous six (6)months, taking into consideration all relevant terms and conditions of any comparable leasing transaction, including without limitation: (i)location, quality and age of the building; (ii)use and size of the space in question; (iii)location and or floor level in the building; (iv)that there will be no new leasehold improvement allowances provided; (v)there will be no abatement of rental or other charges; (vi)parking; (vii) lease takeovers/assumptions; (viii)relocation allowances; (ix)there will be no refurbishment and repainting allowances; (x)distinction between “gross” and “net” leases, (xi)extent of services provided or to be provided; (xii)base year or dollar amount for escalation purposes (both operating costs and ad valorem taxes); (xiii) credit standing and financial stature of the tenant; (xiv)length of term and (xv)Landlord will not be required to pay additional brokerage fees. Each option needs to be exercised by Tenant giving Landlord written notice of exercise at least six (6)month prior to the Termination Date. 03/13/2019 (MEDALLION FINANCIAL CORP) Source 3. Options: Tenant shall have two (2)five (5) year options to extend the term of the Lease. Tenant shall exercise its right to by written notice to Landlord delivered on or before 120 days prior to the expiration of the Term or First Option Term. In the event Landlord does not received Tenant’s notice as stated above, Tenant shall not lose its option to renew unless and until the Tenant has had at least ten (10)days after receipt of written notice from Landlord in which to exercise its option to renew. Options shall be personal to Tenant.