New Hereditaments Sample Clauses
The 'New Hereditaments' clause defines how the lease or agreement will address any new property interests or rights that arise after the contract is signed. Typically, this clause specifies whether such newly created or acquired hereditaments—such as additional land, buildings, or rights—will automatically become subject to the terms of the existing agreement. For example, if a landlord acquires adjacent land that becomes part of the leased premises, this clause determines if the tenant gains any rights over it. Its core function is to ensure clarity and prevent disputes by preemptively addressing how unforeseen changes to the property are handled during the term of the agreement.
New Hereditaments. 8.1 If there are any new Hereditaments in the BID Area raised following the Operational Date the occupiers will be liable to pay a BID Levy based on the new rateable value applying to such Hereditaments. Where a new assessment is brought into the rating list, the BID Levy will apply from the effective date as shown in the rating list.
8.2 New Hereditaments which are identified in the Financial Year listed in the New Hereditaments Table will have a Bid Levy based on the Rating Value Date applicable to such Financial Year in the New Hereditaments Table based on the 201X rating value list. New Hereditaments Table Financial Year Rating Value Date 01.01.17 to 31.03.17 31.03.16 – 2010 Rating list 01.04.17 to 31.03.18 01.04.17 – 2017 Rating list 01.04.18 to 31.03.19 31.03.18 – 2017 Rating list 01.04.19 to 31.03.20 31.03.19 – 2017 Rating list 01.04.20 to 31.03.21 31.03.20 – 2017 Rating list 01.04.21 to 31.12.21 31.03.21 – 2017 Rating list
New Hereditaments. 8.1 If there are any new Hereditaments in the BID Area raised following the Operational Date the occupiers will be liable to pay a BID Levy based on the new rateable value applying to such Hereditaments (provided that the exemptions under Paragraphs 2 and 4 will apply). Where a new assessment is brought into the rating list, the BID Levy will apply from the effective date as shown in the rating list.
8.2 New Hereditaments which are identified in the Financial Year listed in the New Hereditaments Table will have a Bid Levy based on the Rating Value Date applicable to such Financial Year in the New Hereditaments Table based on the 201X rating value list. New Hereditaments Table Financial Year Rating Value Date
New Hereditaments. If there are any new Hereditaments in the BID 2 Area raised following the Operational Date the occupiers will be liable to pay a BID 2 Levy based on the new rateable value applying to such Hereditaments. Where a new assessment is brought into the rating list, the BID 2 Levy will apply from the effective date as shown in the applicable rating list.
New Hereditaments. 7.1 If there are any new Hereditaments in the BID Area raised following the Operational Date the occupiers will be liable to pay a BID Levy based on the new rateable value applying to such Hereditaments (provided that the exemptions under Paragraphs 2 and 4 will apply). Do they pay a full year’s levy if they become liable to pay a levy towards the end of the year and will be paying again at the correct anniversary?