Common use of Adjustment of Rent Clause in Contracts

Adjustment of Rent. 2.1 Any error or mis-statement as to the description of the land and/or floor area of the Premises in Schedule 1 of this Agreement shall not invalidate this Agreement or entitle the Tenant to be discharged from it. The Parties shall have the right to an adjustment of the Rent payable under this Agreement in the manner as provided in this paragraph 2. 2.2 If upon a survey of the Premises agreed between the Parties to be undertaken and completed no later than 4 weeks from the commencement of the Term, or such extended period as may be allowed by the Landlord, it is discovered that there is a difference between the land/floor area ascertained by such survey (hereinafter referred to as the “surveyed land/floor area”) and the land/floor area stated in Schedule 1 of this Agreement (hereinafter referred to as the “estimated land/floor area”), and the result of such survey is accepted bv the Landlord, the following shall apply: (a) If the surveyed floor area is within 5% variance of the estimated land/floor area, neither Party shall have the right to any adjustment of the Rent. Tenant to initial (b) If the surveyed land/floor area is either more than or less than the estimated land/floor area by more than 5% of the estimated land/floor area, then there shall be a corresponding adjustment in the Rent which adjustment shall be determined by the Collector of Land Revenue and he shall, when doing so, take into account the merits and all the circumstances of the case, including without limitation, the actual increase or shortfall in the surveyed land/floor area as compared with the estimated land/floor area.

Adjustment of Rent. 2.1 Any error or mis-statement as to the description of the land and/or floor area of the Premises in Schedule 1 of this Agreement shall not invalidate this Agreement or entitle the Tenant to be discharged from it. The Parties shall have the right to an adjustment of the Rent payable under this Agreement in the manner as provided in this paragraph 2. 2.2 If upon a survey of the Premises agreed between the Parties to be undertaken and completed no later than 4 weeks from the commencement of the Term, or such extended period as may be allowed by the Landlord, it is discovered that there is a difference between the land/floor area ascertained by such survey (hereinafter referred to as the “surveyed land/floor area”) and the land/floor area stated in Schedule 1 of this Agreement (hereinafter referred to as the “estimated land/floor area”), and the result of such survey is accepted bv the Landlord, the following shall apply: (a) If the surveyed floor area is within 5% variance of the estimated land/floor area, neither Party shall have the right to any adjustment of the Rent. Tenant to initial. (b) If the surveyed land/floor area is either more than or less than the estimated land/floor area by more than 5% of the estimated land/floor area, then there shall be a corresponding adjustment in the Rent which adjustment shall be determined by the Collector of Land Revenue and he shall, when doing so, take into account the merits and all the circumstances of the case, including without limitation, the actual increase or shortfall in the surveyed land/floor area as compared with the estimated land/floor area.

Adjustment of Rent. 2.1 Any The Parties accept the Floor Area as stipulated in paragraph 1.1 of Schedule 1 for the purposes of this Agreement, and any inaccuracy, error or mis-statement as to the description of the land and/or floor area Floor Area of the Premises in Schedule 1 of this Agreement shall not invalidate this Agreement or entitle the Tenant to be discharged from it. The Parties shall have the right to an adjustment of the Rent payable Tenant to initial under this Agreement arising from any such inaccuracy, error or mis-statement as to the description of the Floor Area only in the manner as provided in this paragraph 22 and in no other manner whatsoever. 2.2 If upon In the event that a survey of the Premises is agreed between the Parties to be undertaken and completed no later than 4 four (4) weeks from the commencement of the Term, or within such extended period as may be allowed by the Landlord, it is discovered that there is a difference between the land/actual floor area of the Premises as ascertained by such survey or plan (hereinafter referred to as the its “surveyed land/floor area”) and the land/floor area stated in Schedule 1 of this Agreement (hereinafter referred to as the “estimated land/floor area”)Floor Area, and the result of such survey is accepted bv by the Landlord, the following shall apply: (a) If the surveyed floor area of the Premises is within 5% variance of the estimated land/floor areaFloor Area, neither Party shall have the right to any adjustment of the Rent. Tenant to initial; and (b) If the surveyed land/floor area of the Premises is either more than or less than the estimated land/floor area Floor Area by more than 5% of the estimated land/floor areaFloor Area, then then: (i) there shall be a corresponding adjustment in the Rent which adjustment shall be determined and shall take effect from a date to be stipulated by the Collector of Land Revenue Revenue, and he shall, when doing so, take into account the merits and all the circumstances of the case, including without limitation, the actual increase or shortfall in the surveyed land/floor area of the Premises as compared with the estimated land/Floor Area; and (ii) with effect from the date stipulated by the Collector of Land Revenue under paragraph 2.2(b)(i) above, all references to “Floor Area” in this Agreement shall refer to the surveyed floor areaarea of the Premises.

Adjustment of Rent. 2.1 Any error or mis-statement as to the description of the land and/or area and the gross floor area of the Premises in Schedule 1 of this Agreement shall not invalidate this Agreement or entitle the Tenant to be discharged from it. The Parties shall have the right to an adjustment of the Rent payable under this Agreement in the manner as provided in this paragraph 2. 2.2 If upon a survey of the Premises agreed between the Parties to be undertaken and completed no later than 4 weeks from the commencement of the Term, or such extended period as may be allowed by the Landlord, Landlord it is discovered that there is a difference between the land/gross floor area of any Building as ascertained by such survey or plan (hereinafter referred to as the its “surveyed land/gross floor area”) and the land/gross floor area of that particular Building as stated in Schedule 1 of this Agreement (hereinafter referred to as the its “estimated land/gross floor area”), and the result of such survey is accepted bv the Landlord, the following shall apply:: Tenant to initial (a) If the surveyed gross floor area of any Building is within 5% variance of the its estimated land/gross floor area, neither Party shall have the right to any adjustment of the Rent. Tenant to initial. (b) If the surveyed land/gross floor area of any Building is either more than or less than the its estimated land/gross floor area by more than 5% of the its estimated land/gross floor area, then there shall be a corresponding adjustment in the Rent which adjustment shall be determined by the Collector of Land Revenue and he shall, when doing so, take into account the merits and all the circumstances of the case, including without limitation, the actual increase or shortfall in the surveyed land/gross floor area of that Building as compared with the its estimated land/gross floor area.

Adjustment of Rent. 2.1 Any error or mis-statement as to the description of the land and/or floor area of the Premises in Schedule 1 of this Agreement shall not invalidate this Agreement or entitle the Tenant to be discharged from it. The Parties shall have the right to an adjustment of the Rent payable under this Agreement in the manner as provided in this paragraph 2.. Tenant to initial 2.2 If upon a survey of the Premises agreed between the Parties to be undertaken and completed no later than 4 weeks from the commencement of the Term, or such extended period as may be allowed by the Landlord, it is discovered that there is a difference between the land/floor area ascertained by such survey (hereinafter referred to as the “surveyed land/floor area”) and the land/floor area stated in Schedule 1 of this Agreement (hereinafter referred to as the “estimated land/floor area”), and the result of such survey is accepted bv the Landlord, the following shall apply: (a) If the surveyed floor area is within 5% variance of the estimated land/floor area, neither Party shall have the right to any adjustment of the Rent. Tenant to initial. (b) If the surveyed land/floor area is either more than or less than the estimated land/floor area by more than 5% of the estimated land/floor area, then there shall be a corresponding adjustment in the Rent which adjustment shall be determined by the Collector of Land Revenue and he shall, when doing so, take into account the merits and all the circumstances of the case, including without limitation, the actual increase or shortfall in the surveyed land/floor area as compared with the estimated land/floor area.

Adjustment of Rent. 2.1 Any The Parties accept the Floor Area as stipulated in paragraph 1.1 of Schedule 1 for the purposes of this Agreement, and any inaccuracy, error or mis-statement as to the description of the land and/or floor area Floor Area of the Premises in Schedule 1 of this Agreement shall not invalidate this Agreement or entitle the Tenant to be discharged from it. The Parties shall have the right to an adjustment of the Rent payable under this Agreement arising from any such inaccuracy, error or mis-statement as to the description of the Floor Area only in the manner as provided in this paragraph 22 and in no other manner whatsoever. 2.2 If upon In the event that a survey of the Premises is agreed between the Parties to be undertaken and completed no later than 4 four (4) weeks from the commencement of the Term, or within such extended period as may be allowed by the Landlord, it is discovered that there is a difference between the land/actual floor area of the Premises as ascertained by such survey or plan (hereinafter referred to as the its “surveyed land/floor area”) and the land/floor area stated in Schedule 1 of this Agreement (hereinafter referred to as the “estimated land/floor area”)Floor Area, and the result of such survey is accepted bv by the Landlord, the following shall apply: (a) If the surveyed floor area of the Premises is within 5% variance of the estimated land/floor areaFloor Area, neither Party shall have the right to any adjustment of the Rent. Tenant to initial; and (b) If the surveyed land/floor area of the Premises is either more than or less than the estimated land/floor area Floor Area by more than 5% of the estimated land/floor areaFloor Area, then then: (i) there shall be a corresponding adjustment in the Rent which adjustment shall be determined and shall take effect from a date to be stipulated by the Collector of Land Revenue Revenue, and he shall, when doing so, take into account the merits and all the circumstances of the case, including without limitation, the actual increase or shortfall in the surveyed land/floor area of the Premises as compared with the estimated land/Floor Area; and (ii) with effect from the date stipulated by the Collector of Land Revenue under paragraph 2.2(b)(i) above, all references to “Floor Area” in this Agreement shall refer to the surveyed floor areaarea of the Premises.

Adjustment of Rent. 2.1 Any error or mis-statement as to the description of the land and/or and / floor area Area of the Premises in Schedule 1 of this Agreement shall not invalidate this Agreement or entitle the Tenant to be discharged from it. The Parties shall have the right to an adjustment of the Rent payable under this Agreement in the manner as provided in this paragraph Paragraph 2. 2.2 If upon a survey of the Premises agreed between the Parties to be undertaken and completed no later than 4 the n4 weeks from the commencement of the Term, or such extended period as may be allowed by the Landlord, it is discovered that there is a difference between the land/floor area ascertained by such survey (hereinafter referred to as the “surveyed land/floor area”) and the land/floor area stated in Schedule 1 of this Agreement (hereinafter referred to as the “estimated land/floor area”), and the result of such survey is accepted bv by the Landlord, the following shall apply: (a) If the surveyed floor area of the Premises is within 5% variance of the estimated land/floor areaFloor Area, neither Party shall have the right to any adjustment of the Rent. Tenant to initial. (b) If the surveyed land/floor area is either more than or less than the estimated land/floor area Area by more than 5% of the estimated land/floor areaArea, then there shall be a corresponding Tenant to initial adjustment in the Rent which adjustment shall be determined by the Collector of Land Revenue Revenue, and he shall, when doing so, take into account the merits and all the circumstances of the case, including without limitation, the actual increase or shortfall in the surveyed land/floor area as compared with the estimated land/floor areaArea.