ADJUSTED RENT. Commencing on the 30th, and redetermined on the 40th, 50th and 60th anniversaries of the Date of Lease Execution (June 1, 1992), to be in effect as so determined for the respective ten Lease Years following the 30th, 40th and 50th anniversaries and for the five Lease Years following the 60th anniversary, whichever is the lesser of (i) Fair Market Value Rent, assuming that the "MAXIMUM FAR FLOOR AREA OF IMPROVEMENTS" (defined as 130,490 square feet of initial
... Improvements plus the Maximum FAR Floor Area of Additional Improvements (as hereinafter defined)) have been constructed on the Premises, ascertained in accordance with $4.1.4 (but never less than Rent payable during the immediately preceding Lease Year) or (ii) the sum of (A) $1.80 multiplied by 130,490 (the total square feet of FAR Floor Area of initial Improvements constructed on the Development Parcel), increased by 5% per annum, cumulatively, from the Date of Lease Execution until the beginning of the Lease Year in question (calculated as [$1.80 (l+ (x) (. 05))x 130,490] (x being the Lease Year in question)), plus (B)(1)if either Landlord or Tenant terminate this Lease with respect to the Holding Parcel (exclusive of the Inaccessible Parcel) in accordance with Sections 4.2.1.1(e) and 4.2.1.1(f) of this Lease, respectively, the product of $1.80 multiplied by the greater of (v) 80,000 or (w) the total square feet of FAR Floor Area constructed on that portion of the Premises formerly referred to as the Inaccessible Parcel, increased by 5% per annum, cumulatively, from the Date of Lease Execution until the beginning of the Lease Year in question (calculated as [$1.80 (1+(x) (. 05)) x (y)] (x being the Lease Year in question and y being the greater of clause (v) and (w) above); or (2) if neither Landlord or Tenant terminate this Lease with respect to the Holding Parcel (exclusive of the Inaccessible Parcel) as provided herein, the product of $1.60 multiplied by 620,160 (the Maximum FAR Floor Area of Additional Improvements (as hereinafter defined)), increased by 5% per annum, cumulatively, from the Date of Lease Execution until the beginning of the Lease Year in question (calculated as [$1.60 (1+(x)(. 05))x 620,160] (x being the Lease Year in question). (For an example, see Section 4.1.6.)
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