Market Rental Value Sample Clauses

Market Rental Value. The term "Market Rental Value" shall be the rental rate that comparable Premises in the market in which the Premises is located would command for the same term as the Extension Term on the open market at the time Tenant provides its Notice of Intent, as determined jointly by Landlord and Tenant. For purposes hereof, the term "comparable Premises" shall mean premises in a Building similar in size and location to the Building, excluding any improvements installed by Tenant in the Building. In determining the Market Rental Value, appropriate consideration shall be given to Tenant's creditworthiness, the annual amount per rentable square foot that Landlord has accepted in current transactions between non-affiliated parties from new, non-expansion, non-renewal and non- equity tenants of comparable creditworthiness for comparable premises for a comparable use for a comparable period of time, the annual rental rates per square foot, the standard of measurement by which the rentable square footage is measured, the ratio of rentable square feet to usable square feet, the type of escalation clause (e.g., whether increases in additional rent are determined on a net or gross basis, and if gross, whether such increases are determined according to a base year or a base dollar amount expense stop), the extent of Tenant's liability under the Lease, parking rights and obligations, signage rights, abatement provisions reflecting free rent and/or no rent during the period of construction or subsequent to the commencement date as to the space in question, brokerage commissions, if any, which would be payable by Landlord in similar transactions, length of the lease term, size and location of the Building being leased, and other general applicable conditions of tenancy for such comparable transactions.
Sample 1
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Market Rental Value. The Monthly Base Rent during each Extension Term will be the Market Rental Value of the Premises (as defined and determined pursuant to Section 43.5) for that period.
Sample 1
Market Rental Value. In the event that Landlord and Tenant are unable to agree upon the Fair Market Rental Value within thirty (30) days after Tenant notifies Landlord of its disagreement with Landlord's designation of the Fair Market Rental Value, Tenant's renewal option or expansion option with respect to the space as to which Landlord and Tenant are unable to agree upon the Fair Market Rental Value (pursuant to Section 1.5 or Section 22.4(a), whichever is applicable) shall become null and void and of no further force or effect.
Sample 1
Market Rental Value. The rent per square foot per year which a Person ------------------- not affiliated with either Landlord or Tenant would pay as Basic Rent as of the time of determination (i) for the same number of square feet of Rentable Area as the Premises, located in the Building (or a comparable building comparably located), (ii) assuming similar terms and concessions, if any, to those prevailing at the time, (iii) for a term of years equal to that for which the determination is being made and (iv) for space which is finished in a manner similar to that of the Premises. For purposes of determining market Rent, space in the Park leased to tax-exempt organizations or tenants sponsored by Commonwealth BioVentures, Inc. will not be considered comparable. All Additional Rent, such as Taxes and Operating Expenses, will be in addition to the rent per square foot so determined.
Sample 1
Market Rental Value. The rental value shall in any case be calculated exclusively by comparison with market rents, i.e.,: • prices freely discussed by the landlord and their tenant for vacant premises, to the exclusion of references to amicable renewals and fixing of rents by the court for signed leases with effective date running during the twelve (12) months prior to the renewal, • for real property comparable to the premises, i.e., buildings of a similar nature to the building, situated within the same perimeter and having particulars similar to those of the premises (prestige, standard with regard to quality, construction, integrated services, technical equipment, functionality), unless where they are to be corrected if such characteristics fail to meet other reference criteria, subject to such criteria being comparable. Amounts for the assignment of rights under the lease as well as lease-premium, the amount for work done by the tenants, and the effect, if any, of the progressive nature of rents on the term of leases. This article is decisive factor in the Parties’ willingness, without which the lease would not have been signed, and shall be applicable to any assessor called upon to give an opinion on the rent amount.
Sample 1
Market Rental Value. Within twenty (20) days after Sublandlord's receipt of Subtenant's selection of a real estate appraiser, Sublandlord, by written notice to Subtenant, shall designate a real estate appraiser, who shall act on Sublandlord's behalf in the determination of the Fair Market Rental Value. Within twenty (20) days of the selection of Sublandlord's appraiser, the two (2) appraisers shall render a joint written determination of the Fair Market Rental Value, which determination shall take into consideration any differences between the Building and those buildings comparable to the Building located in the Market Area, including without limitation age, location, setting and type of building. If the two (2) appraisers are unable to agree upon a joint written determination within said twenty (20) day period, the two appraisers shall select a third appraiser within such twenty (20) period. Within twenty (20) days after the appointment of the third appraiser, the third appraiser shall render a written determination of the Fair Market Rental Value. The average of the three determinations shall be the final and conclusive Fair Market Rental Value, provided, that if the low appraisal and/or the high appraisal is/are more than ten percent (10%) lower and/or higher than the middle appraisal, the low appraisal and/or the high appraisal shall be disregarded. If only one appraisal is disregarded, the remaining two appraisals shall be added together and their total divided by two; the resulting quotient shall be the Fair Market Rental Value. If both the low appraisal and the high appraisal are disregarded as stated in this Section, the middle appraisal shall be the Fair Market Rental Value. All appraisers selected in accordance with this Section shall have at least ten (10) years prior experience in the commercial leasing market of the Market Area, shall be members of the American Institute of Real Estate Appraisers or similar professional organization and shall not have worked in any previous capacity for Sublandlord or Subtenant. If either Sublandlord or Subtenant fails or refuses to select an appraiser, the other appraiser shall alone determine the Fair Market Rental Value. Sublandlord and Subtenant agree that they shall be bound by the determination of Fair Market Rental Value pursuant to this Section. Sublandlord shall bear the fee and expenses of its appraiser; Subtenant shall bear the fee and expense of its appraiser; and Sublandlord and Subtenant shall share equally the fee ...
Sample 1
Market Rental Value. If the Owner Trustee and the Lessee fail to agree upon such values within 45 days after the Lessee's notice pursuant to the first sentence of this paragraph, the Lessee may request that such values be determined by the Appraisal Procedure. The Lessee's request for a determination of Fair Market Value shall not obligate the Lessee to exercise any of the options provided in this Section 19. All costs and expenses of any Appraisal Procedure pursuant to this Section 19 shall be borne by the Lessee.
Sample 1
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Market Rental Value. The rental value on the date the renewal takes effect will in all cases be calculated in comparison with market rental, namely: • rental agreed between an owner and his tenant for premises free of any occupation, and excluding any concept of renewal, and in no case set legally, for the 12 months prior to the date the renewal takes effect, • for real estate comparable to the PROPERTY, in other words property of the same type as the PROPERTY located in Paris, within the scope described below in appendix 4, and having the same characteristics as the PROPERTY, same prestige, standard of quality, construction, integrated services, technological equipment, functionality, use of space, modernity and same collective services, except when these elements are lacking and there are other benchmark criteria, under the condition nevertheless that they are comparable. If comparison rental appears over or under valued, then, as applicable, it is necessary to look into and take into account the amount of work carried out by tenants – excluding useful work carried out for fixtures and fittings – or by the lessors in question, entrance indemnities and franchises agreed by the owner, rentals, charges or taxes as well as the affect of the agreed progressive nature or variation of the rent, for the duration of the lease. This article is determinant on the will of the parties, without which they would not have agreed this lease, and is binding on any expert giving his opinion on the rental amount.
Sample 1
Market Rental Value. If either Party has failed to select a Broker as aforesaid, the Fair Market Rental 25 Value shall be determined by the Broker selected by the other Party. Each Broker shall thereupon 26 independently make his or her determinations of the Fair Market Rental Value within twenty (20) days after the appointment of the second Broker. If the two Brokers’ determinations are not the same, but the 27 higher of such two values is not more than one hundred five percent (105%) of the lower of them, then 28 the Fair Market Rental Value shall be deemed to be the average of the two values. If the higher of such 29 two values is more than one hundred five percent (105%) of the lower of them, then the two Brokers shall jointly appoint a third Broker within ten (10) days after the second of the two determinations 30 described above has been rendered. The third Broker shall independently make his determination of the 31 Fair Market Rental Value within twenty (20) days after his appointment. The highest and the lowest 32 determinations of value among the three Brokers shall be disregarded and the remaining determination shall be deemed to be the Fair Market Rental Value. If COUNTY is not in agreement with the Fair 33 Market Rental Value at the completion of the appraisal process, the COUNTY may rescind its Option by 34 notifying LESSOR within thirty (30) days of the completion of the appraisal process. Should COUNTY 35 choose to cancel its Option, COUNTY may remain in the Premises for one (1) year under the same terms and conditions, including rental rate, of this Lease.
Sample 1

Related to Market Rental Value

  • Rental Value Lessor shall also obtain and keep in force during the term of this Lease a policy or policies in the name of Lessor, with loss payable to Lessor and any Lender(s), insuring the loss of the full rental and other charges payable by all lessees of the Building to Lessor for one year (including all Real Property Taxes, insurance costs, all Common Area Operating Expenses and any scheduled rental increases). Said insurance may provide that in the event the Lease is terminated by reason of an insured loss, the period of indemnity for such coverage shall be extended beyond the date of the completion of repairs or replacement of the Premises, to provide for one full year's loss of rental revenues from the date of any such loss. Said insurance shall contain an agreed valuation provision in lieu of any co-insurance clause, and the amount of coverage shall be adjusted annually to reflect the projected rental income, Real Property Taxes, insurance premium costs and other expenses, if any, otherwise payable, for the next 12-month period. Common Area Operating Expenses shall include any deductible amount in the event of such loss.

  • Fair Market Value Fair Market Value of a share of Common Stock as of a particular date (the "Determination Date") shall mean:

  • Target Fair Market Value The Company agrees that the Target Business that it acquires must have a fair market value equal to at least 80% of the balance in the Trust Account at the time of signing the definitive agreement for the Business Combination with such Target Business (excluding taxes payable and the Deferred Underwriting Commissions). The fair market value of such business must be determined by the Board of Directors of the Company based upon standards generally accepted by the financial community, such as actual and potential sales, earnings, cash flow and book value. If the Board of Directors of the Company is not able to independently determine that the target business meets such fair market value requirement, the Company will obtain an opinion from an independent investment banking firm or another independent entity that commonly renders valuation opinions with respect to the satisfaction of such criteria. The Company is not required to obtain an opinion as to the fair market value if the Company’s Board of Directors independently determines that the Target Business does have sufficient fair market value.

  • Determination of Fair Market Value For purposes of this Section 10.2, “fair market value” of a share of Common Stock as of a particular date (the “Determination Date”) shall mean:

  • Appraised Value If an Objecting Party objects in writing to the Initial Valuation within ten (10) days after its receipt of the Valuation Notice, the Objecting Party, within fourteen (14) days from the date of such written objection, shall engage an Independent Appraiser (the “First Appraiser”) to determine within thirty (30) days of such engagement the Fair Market Value of the Partnership Interests (the “First Appraised Value”). The cost of the First Appraiser shall be borne by the Objecting Party. If the First Appraised Value is at least eighty percent (80%) of the Initial Value and less than or equal to one hundred twenty percent (120%) of the Initial Value, then the Purchase Price shall be the average of the Initial Value and the First Appraised Value. If the First Appraised Value is less than eighty percent (80%) of the Initial Value or more than one hundred twenty percent (120%) of the Initial Value, then the Partnership and the Objecting Party shall, within fourteen (14) days from the date of the First Appraised Value, mutually agree on and engage a second Independent Appraiser (the “Final Appraiser”). The cost of the Final Appraiser shall be borne equally by the Partnership and the Objecting Party. The Final Appraiser shall determine within thirty (30) days after its engagement the Fair Market Value of the Partnership Interests, but if such determination is less than the lesser of the Initial Value and the First Appraised Value then the lesser of the Initial Value and the First Appraised value shall be the value or if such determination is greater than the greater of the Initial Value and the First Appraised Value then the greater of the Initial Value and the First Appraised Value shall be the value (the “Final Valuation”). The Purchase Price shall be equal to the Final Valuation and shall be final and binding upon the parties to this Agreement for purposes of the subject transaction.

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