then prevailing definition
then prevailing means the commencement date of the Renewal Term.
then prevailing means the time period which is five (5) months prior to the commencement of the Renewal Term and not the commencement date of the Renewal Term.
then prevailing means the time period which is six (6) months prior to the commencement of the subject Extension Term and not the commencement date of the subject Extension Term. No later than six (6) months before the expiration of the initial Term or the first Extension Term, as applicable, Landlord shall deliver to Tenant written notice of Landlord’s determination of the Prevailing Rental Rate and shall advise Tenant of the required adjustment to Base Rent, if any, and any other terms and conditions offered. Tenant shall, within fifteen (15) days after receipt of Landlord’s notice, notify Landlord in writing whether Tenant accepts or rejects Landlord’s determination of the Prevailing Rental Rate. If Tenant rejects Landlord’s determination of the Prevailing Rental Rate, Tenant’s written notice shall include Tenant’s own determination of the Prevailing Rental Rate. If Tenant does not deliver any written notice to Landlord within fifteen (15) days after receipt of Landlord’s notice of the Prevailing Rental Rate, Tenant shall be deemed to have withdrawn its exercise of its rights under this Exhibit, whereupon Tenant’s rights under this Exhibit shall be null and void and of no further force or effect. If Tenant and Landlord disagree on the Prevailing Rental Rate, then Landlord and Tenant shall attempt in good faith to agree upon the Prevailing Rental Rate. If by that date which is four (4) months prior to the commencement of the subject Extension Term (the “Option Trigger Date”), Landlord and Tenant have not agreed in writing as to the Prevailing Rental Rate, the parties shall determine the Prevailing Rental Rate in accordance with the procedure set forth in Paragraph C below.