Market Rent Review. (a) In addition to the Rent adjustment provided for in clause 14.4 the Rent may, subject to the following provisions of this clause, be redetermined to an amount that is the Market Rent in accordance with Division 6.3 of the CLM Xxx 0000 on that date with effect on and from each Market Rent Review Date by the Licensor;
(b) A redetermination of Rent for the purposes of sub-clause 14.5(a) will be taken to have been made on the Market Rent Review Date if it is made at any time within the period of six months before and up to six months after that Market Rent Review Date specified or referred to in Column 2 of Item 8 of Schedule 1.
(c) Where the Licensor does not redetermine the Rent as provided for in sub-clause 14.5(a) it may subsequently redetermine the Rent at any time before the next Market Rent Review Date. No succeeding Market Rent Review Date shall be postponed by reason of the operation of this clause.
(d) A redetermination of Rent made under sub-clause 14.5(a) or 14.5(c) will take effect and be due and payable on the next Due Date following the date of issue of the notice of redetermination (or where the said Due Date and the date of issue of the notice of redetermination are the same, then that date) even if the Licensee wishes to dispute the redetermination.
Market Rent Review. (a) In addition to the Rent adjustment provided for in clause 9.3 the Rent may, subject to the following provisions of this clause, be redetermined to an amount that is the market Rent on that date with effect on and from each Market Rent Review Date by the Lessor.
(b) A redetermination of Rent for the purposes of sub-clause 9.4(a) will be taken to have been made on the Market Rent Review Date if it is made at any time within the period of six months before and up to six months after that Market Rent Review Date.
(c) Where the Lessor does not redetermine the Rent as provided for in clause 9.4(a) it may subsequently redetermine the Rent at any time before the next Market Rent Review Date. No succeeding Market Rent Review Date will be postponed by reason of the operation of this clause.
(d) An adjustment of Rent made under sub-clause 9.4(c) will take effect and be due and payable on the next due date following the date of issue of the notice of adjustment (or where the said due date and the date of issue of the notice of redetermination are the same, then that date) even if the Lessee wishes to dispute the redetermination.
Market Rent Review. (a) In addition to the Rent adjustment provided for in clause 14.4 the Rent may, subject to the following provisions of this clause, be redetermined to an amount that is the Market Rent on that date with effect on and from each Market Rent Review Date by the Licensor;
(b) A redetermination of Rent for the purposes of sub-clause 14.5(a) shall be taken to have been made on the Market Rent Review Date if it is made at any time within the period of six months before and up to six months after that Market Rent Review Date specified or referred to in Column 2 of Item 8 of Schedule 1.
(c) Where the Licensor does not redetermine the Rent as provided for in sub- clause 14.5(a) it may subsequently redetermine the Rent at any time before the next Market Rent Review Date. No succeeding Market Rent Review Date shall be postponed by reason of the operation of this clause.
(d) A redetermination of Rent made under sub-clause 14.5(a) or 14.5(c) shall take effect and be due and payable on the next Due Date following the date of issue of the notice of redetermination (or where the said Due Date and the date of issue of the notice of redetermination are the same, then that date) even if the Licensee wishes to dispute the redetermination.
Market Rent Review. On each Market Review Date the Base Rent will be the Market Rent as notified in the Market Review Notice or as determined in the following clauses. The Landlord must issue a Market Review Notice not less than 3 months before the Market Review Notice. If the Landlord has not issued a Market Review Notice by the Market Review Date then the Tenant may issue the Market Review Notice.
Market Rent Review. The annual rent payable as from each market rent review date (except for a market rent review date that is a renewal date) shall be reviewed by the Landlord as follows:
Market Rent Review. The Rent is to be reviewed on each Market Review Date in accordance with clauses 7.2 to 7.6.
Market Rent Review. 5.1 Landlord's Notice
Market Rent Review. The Rent is to be reviewed on each Market Review Date in accordance with clauses 8.2 to 8.6. In this clause, Review Period means the period following each Market Review Date until the next Review Date or until the end of this lease. The review procedure on each Market Review Date is as follows: the Landlord or the Tenant may initiate a review by giving the other party written notice stating the current market rent which it proposes as the rent for the Review Period. If the other party does not object in writing to the proposed rent within 28 days, it becomes the Rent for the Review Period; if the party that receives the notice serves on the party initiating the review an objection to the proposed rent within 28 days and the parties do not agree on the rent within 40 days after the objection is served, and then either party may request the President of the Australian Property Institute – Victorian Division, to appoint a Valuer to determine the current market rent; in determining the current market rent for the Premises, the Valuer must: consider any written submission made by the parties which must be submitted to the Valuer within 28 days of the parties being informed of the Valuer's appointment; complete the determination within 60 days of receipt of submissions from the parties and provide a written report to the Tenant and the Landlord which clearly outlines the basis and reasoning of the determination; determine the current market rent as an expert; assume that the Premises is available to be leased on the same conditions as those contained in this lease, including any options for renewal and assuming a sitting tenant; take into account the conditions of this lease including the Permitted Use, assuming the Tenant has met all the obligations under this lease; ignore the Tenant's Fixtures and all improvements made by the Tenant to the Premises at the Tenant's Cost; ignore the goodwill of the Tenant's business; take into account current market rent for comparable premises; disregard any incentives in comparable rental evidence; where the Premises comprises more than one warehouse within the Warehouse Land, assess the rent on a warehouse by warehouse basis; have regard to any services made available to the Tenant by the Landlord in respect of the Warehousing Complex or the Warehouse Land (for example waste removal, security and other similar services); and have regard to the Tenant's rights to use the Licensed Area; and if no determination has been made wi...
Market Rent Review. The Annual Rent must be reviewed on each Market Review Date as follows:
(a) at least 60 days prior to a Market Review Date the Landlord must notify the Tenant of the amount in writing (‘Landlord’s Amount’) which it considers should be the Annual Rent market rental value as from the Market Review Date of each-further term (‘Landlord’s Notice’); and
(b) the Tenant must advise the Landlord in writing of its objection (‘Tenant’s Notice’) within 30 days of receiving the Landlord’s Notice if the Tenant disputes the Landlord’s Amount. The Tenant’s Notice must set out an alternative sum which the Tenant considers should be the Annual Rent as from the Market Review Date of such further term
(c) the Annual Rent market rental value will be determined by a Valuer appointed by the President of the Institute at the request of either the Landlord or the Tenant if within 30 days of receiving the Tenant’s Notice, the Landlord and Tenant cannot agree on the Annual Rent market rental value;
(d) the Valuer will determine the Annual Rcnt at the Market Review Date of such further term. The market rental value on a GST exclusive basis;
(e) the determination of the valuer will be final and binding on the parties;
Market Rent Review. For the first Lease Year of the Option Term, the Annual Rent will be the annualised amount calculated by review of the rent to market as follows:-
(a) At any time not later than four (4) months prior to the first day of the Option Term (“Market Review Date”) the Lessor will notify the Lessee in writing of the market rent for the Premises for that Lease Year (“Lessor’s Notice”).
(b) If the Lessee does not agree that the amount stated in the Lessor’s Notice is the market rent for the Premises, the Lessee may, within 21 days of receipt of the Lessor’s Notice, give the Lessor a notice in writing requiring that the market rent be determined in accordance with Clause 13.5 (“Lessee’s Notice”). Table of Contents FORM 20 Version 1 QUEENSLAND LAND REGISTRY Land Title Xxx 0000 and Land Xxx 0000 SCHEDULE Page 20 of 33
(c) If the Lessee does not issue a Lessee’s Notice within the time stipulated in Clause 13.4(b), the Parties agree that the amount stated in the Lessor’s Notice is the market rent for the Premises and will be the Annual Rent from the Market Review Date.
