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MWE » Topics » 34.2 Terms and Conditions of Option

This excerpt taken from the MWE 8-K filed Apr 25, 2006.
34.2        Terms and Conditions of Option.  The Renewal Term shall be on all the terms and conditions of the Lease, except that Landlord shall have no additional obligation for free rent, leasehold improvements or for any other tenant inducements for the Renewal Term and Base Rent shall be increased (but not decreased) to the “Market Rent” as defined in Section 34.3 below.  Notwithstanding anything to the contrary herein, in no event shall the foregoing sentence result in a Base Rent reduction.  The operating expenses base for purposes of calculating operating expenses shall be the actual operating expenses for the first year of the Renewal Term.  Tenant shall have no further option to renew the term of the Lease other than the one (1) additional 5-year term herein provided.

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