Market Rent

Market Rent. 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 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. View More