Market Rental Rate. As used herein, the term “Market Rental Rate” per Rentable Square Foot shall mean (i) the annual rate of net or base rent which is the prevailing market net rental rate for comparable leases or lease expansions (or, as it relates to a determination under Section 31, extension transactions) of space comparable to the level of build-out to the Premises, in the Building and in Comparable Buildings (taking into consideration the duration of the term for which such space is being leased, location and/or floor level within the applicable building, when the applicable rate first becomes effective, quality and location of the applicable building, differences in rentable area and rentable area efficiency for the applicable building, and other relevant factors; and reflecting (i.e. reduced, if applicable, to reflect prevailing concessions which are not being provided to Tenant in kind) prevailing concessions, such as, but not limited to, rental concessions, tenant improvement work, design, construction and moving allowances, brokerage commissions, any base year for taxes and/or expenses and/or any tax and/or expense stops, and time for construction of tenant improvements free of rent obligations) for terms commencing on or about the time for which Market Rental Rate is being determined hereunder, plus (ii) additional prevailing components of the Market Rental Rate as determined by Landlord, in good faith, which may include, among the other then prevailing components of rent, periodic adjustments or additions to a fixed rent based on a share of real estate taxes and other expenses (such as Additional Rent) and increases to adjust for inflation. As part of any Market Rental Rate determination, prevailing market-level security deposits (if any) will be required from Tenant, but only to the extent such security deposit requirements are determined to be part of the prevailing rental rate package for other comparable credit tenants receiving comparable concession packages at Comparable Buildings. Comparable arm's length lease transactions (and, as it relates to a determination under Section 31, extension transactions) at the Building and/or bona fide written proposals or offers to lease comparable space at the Building (and, as it relates to a determination under Section 31, to renew leases of comparable space) received by Landlord from third parties (at arm's length) or given by Landlord to third parties (at arm's length) may be used by Landlord as an indication of the M...
Market Rental Rate. The “Market Rental Rate” is the rate (or rates) a willing tenant would pay and a willing landlord would accept for a comparable transaction (e.g., renewal, expansion, relocation, etc., as applicable, in comparable space and in a comparable building) as of the commencement date of the applicable term, neither being under any compulsion to lease and both having reasonable knowledge of the relevant facts, considering the highest and most profitable use if offered for lease in the open market with a reasonable period of time in which to consummate a transaction. In calculating the Market Rental Rate, all relevant factors will be taken into account, including the location and quality of the Building, lease term, amenities of the Property, condition of the space and any concessions and allowances commonly being offered by Landlord for comparable transactions in the Property. The parties agree that the best evidence of the Market Rental Rate will be the effective rate then charged for comparable transactions in the Property. 1301 XXXXXXXX/KEY ENERGY SERVICES, INC. 21st Amendment RIDER NO. 4
Market Rental Rate. The amount of Base Rent shall be based upon the Market Rental Rate as hereinafter set forth. As used herein, the term “Market Rental Rate” means the base rental rate being paid by tenants in connection with new lease transactions involving buildings of comparable quality, condition and age located in the same market area as the Building (and including the Building) and covering office space of comparable size and quality to the Premises, taking into consideration the amenities available, the length of the Scheduled Term, the amount of the Construction Allowance, the Termination Option granted to Tenant, the quality and condition of the existing improvements in the Premises, the creditworthiness of the tenant and the guarantor, the rent structure of the Lease, and other generally applicable conditions of tenancy for such transactions.
Market Rental Rate. (a) As used herein, the term "
Market Rental Rate. The “Market Rental Rate” is the rate (or rates) a willing tenant would pay and a willing landlord would accept for a comparable transaction (e.g., renewal, expansion, relocation, etc., as applicable, in comparable space and in a comparable building) as of the commencement date of the applicable term, neither being under any compulsion to lease and both having reasonable knowledge of the relevant facts, considering the highest and most profitable use if offered for lease in the open market with a reasonable period of time in which to consummate a transaction. In calculating the Market Rental Rate, all relevant factors will be taken into account, including the location and quality of the Building, lease term, amenities of the Property, condition of the space and any concessions and allowances commonly being offered by Landlord for comparable transactions in the Property. The parties agree that the best evidence of the Market Rental Rate will be the rate then charged for comparable transactions in the Property. Although the determination of Market Rental Rate shall be made at a point in time prior to the commencement date for the applicable Renewal Period, such determination is to be made based on Landlord’s and Tenant’s opinion of what the Market Rental Rate should be at the time the rate being determined will go into effect.
Market Rental Rate. If Tenant properly elects to extend the Term of this Lease for a Renewal Term in accordance with Section 3.2 above, Minimum Rent for such Renewal Term shall be the then current Market Rental Rate, determined as follows: For purposes hereof “Market Rental Rate” shall be the appraised fair market rental value of the Premises as constituted as of the commencement of such Renewal Term, assuming the Premises are then in the condition required by this Lease, taking into account the location and condition of the Building as compared to comparable high rise office buildings in the Market Street West Corridor of Philadelphia, Pennsylvania for a five (5) year term entered into at or about the commencement of the Renewal Term by a landlord not compelled to lease (and who has had a reasonable time to locate an acceptable tenant) and a tenant not compelled to rent, and appropriately adjusted (i) to reflect the fact that Landlord is not incurring the cost of any brokers’ commissions, loss of rental income due to vacancy of the Premises or construction allowances, “free rent” or other tenant inducements in connection with the renewal, (ii) to reflect the fact that Tenant is continuing to lease and possess the entire Building, and (iii) to take into account the “triple net” nature of this Lease; provided that in all cases Minimum Rent for any Renewal Term shall be greater than zero. During the first thirty (30) days following Tenant’s notice to Landlord electing to extend the Term for a given period, Landlord and Tenant shall confer reasonably and in good faith to attempt to agree upon the Market Rental Rate for the Renewal Term in question, and in the absence of such agreement, Market Rental Rate shall be established by the Appraisal Procedure. Notwithstanding anything to the contrary elsewhere in this Section 3, within fourteen (14) days after receipt of notice of the Market Rental Rate established by the Appraisal Procedure pursuant to the terms of this Section 3.3, Tenant may elect, by delivering written notice to Landlord, to rescind Tenant’s option to extend the Term for the Renewal Term in question, in which event Tenant’s exercise of its renewal option pursuant to Section 3.2 shall be null and void and the Term shall end absolutely and without right of further renewal as of the last day of the then current Term. If Tenant fails to rescind Tenant’s option to extend within such fourteen (14) day period, Tenant shall be deemed to have accepted the determination of Ma...
Market Rental Rate. The “Market Rental Rate” is the rate (or rates) a willing tenant would pay and a willing landlord would accept for a comparable transaction (e.g. renewal, expansion, relocation, etc., as applicable, in comparable space and in a comparable building located in the Austin Central Business District) as of the commencement date of the applicable term, neither being under any compulsion to lease and both having reasonable knowledge of the relevant facts, considering the highest and most profitable use if offered for lease in the open market with a reasonable period of time in which to consummate a transaction. In calculating the Market Rental Rate, all relevant factors will be taken into account, including the location and quality of the Building, lease term, amenities of the Property, condition of the space and any concessions and allowances commonly being offered by Landlord for comparable transactions in the Property. The parties agree that the best evidence of the Market Rental Rate will be the rate then charged for comparable transactions in the Property. EXHIBIT H STORAGE SPACE RENTAL AGREEMENT THIS STORAGE SPACE RENTAL AGREEMENT (this “Agreement”) is entered into as of the Reference Date by and between Landlord and Tenant, with reference to the following:
Market Rental Rate. The “Market Rental Rate” is the rate (or rates) a willing tenant would pay and a willing landlord would accept for a comparable transaction (e.g., renewal, expansion, relocation, etc., as applicable, in comparable space in the Office Building) as of the commencement date of the applicable term, neither being under any compulsion to lease and both having reasonable knowledge of the relevant facts, considering the highest and most profitable use if offered for lease in the open market with a reasonable period of time in which to consummate a transaction. In calculating the Market Rental Rate, all relevant factors will be taken into account, including the location and quality of the Office Building, lease term, amenities of the Project, condition of the space and any concessions and allowances commonly being offered by Landlord for comparable transactions in the Project. The parties agree that the best evidence of the Market Rental Rate will be the rate stated in documents evidencing comparable transactions in the Office Building executed within the l2 months immediately prior to the date of the Renewal Notice. The Crescent®/Westwood Management Corp. 5932671v.6 Rider No. 1 - ii RIDER NO. 2
Market Rental Rate. The Lease is amended to provide that a new PARAGRAPH 39 shall be added as follows: MARKET RENTAL RATE
Market Rental Rate. The “Market Rental Rate” is the rate (or rates) a willing tenant would pay and a willing landlord would accept for a comparable transaction (e.g., renewal, expansion, relocation, etc., as applicable, in comparable space and in a comparable building) as of the commencement date of the applicable term, neither being under any compulsion to lease and both having reasonable knowledge of the relevant facts, considering the highest and most profitable use if offered for lease in the open market with a reasonable period of time in which to consummate a transaction. In calculating the Market Rental Rate, all relevant factors will be taken into account, including the location and quality of the Building, lease term, amenities of the Property, condition of the space and any concessions and allowances commonly being offered by Landlord for comparable transactions in the Property. The parties agree that the best evidence of the Market Rental Rate will be the rate then charged for comparable transactions in the Property. EXHIBIT A-1 OUTLINE AND LOCATION OF PREMISES EXHIBIT A-2 Legal Description of Property 3993 Xxxxxx Being a portion of Xxx 0 xx Xxxxxx Xxxxxx Unit No. 2, a Commercial Subdivision recorded in Book of Plats 62 page 25 as recorded in the office of the Xxxxx County Recorder, Xxxxx County Nevada. A portion of that certain parcel of land described as “Remainder Parcel” as shown by map thereof on file in File 85, Page 67 of Surveys, in the Xxxxx County Recorder’s Office, Xxxxx County, Nevada, lying within the Southeast Quarter (SEA) of Section 00, Xxxxxxxx 00 Xxxxx, Xxxxx 61 East, M.D.M., Xxxxx County, Nevada described as follows: Beginning at the Southwest Corner of said “Remainder Parcel”; also being the southwest corner of said Lot 1 Thence along the West line of said “Remainder Parcel”, North 00°11’17” West 414.76 feet; Thence North 89°48’43” East, 217.00 feet; Thence curving to the left along the arc of a 234.50 foot radius curve, concave Northerly through a central angle of 12°26’04”, an arc length of 50.89 feet to a point of reverse curvature through which a radial line bears South 12°37’21” East; Thence curving to the right along the arc of a 175.00 foot radius curve, concave Southwesterly, through a central angle of 71°04’32” an arc length of 217.09 feet to a point of reverse curvature through which a radial line bears North 58°27’11” East; Thence curving to the left along the arc of a 175.00 foot radius curve, concave Northeasterly, through a central...
