Open Market Rent. The following definition applies in this clause 8:
Open Market Rent. The Open Market Rent will be the annual rent at which the Premises might be expected to be let in the open market on the Review Date:
Open Market Rent. The sum to be determined by the arbitrator must be the sum at which he decides the Premises might reasonably be expected to be let in the open market at the Review Date making the Assumptions but disregarding Disregards.
Open Market Rent. Subject to the annual increment in the Base Rents payable during the Review Period (as hereinafter defined) as provided in Section E of Summary, the Base Rents payable during Months 121 to 156 of the Lease Term (being the period commencing on and from 10th November 2010 to 9th November 2013 (both days inclusive)) (the “Review Period”) shall be the Open Market Rent (as hereinafter defined) of the Premises which shall be determined as follows:-
Open Market Rent. 7.6.1 The open market rent may be agreed between the Landlord and the Tenant at any time before it is determined by the Surveyor.
Open Market Rent. 7. The prevailing market rent shall be agreed by the Landlord and the Tenant at least three months before the new rent shall become payable and in default of agreement as aforesaid, it shall be determined by an independent professional valuer, to be appointed jointly by the parties hereto in writing or in default of agreement to be appointed by the Chairman for the time being of the Hong Kong Institute of Surveyors who shall act as an expert and not as an arbitrator and whose decision shall be final and binding on the parties hereto. Prior to the decision of such valuer, the Tenant shall continue to pay monthly, on account of the rent to be decided, the same basic rent as payable hereunder and adjustment on the rent (if applicable) shall be made upon the prevailing market rent (inclusive as aforesaid) having been determined as aforesaid. The valuer’s costs involved in such determination shall be borne by the parties hereto in equal shares. SIGNED by Lo Tin Shun, being ) person duly authorized by the ) For and on behalf of Board of Directors ) RAYBEACH INVESTMENT LIMITED ) [CHINESE CHARACTERS APPEAR HERE] for and on behalf of the Landlord ) ) /s/ [ILLEGIBLE] whose signature(s) is/are verified by: ) Authorized Signature(s) /s/ LO CHI HUNG Lo Chi Hung Solicitor, Hong Kong SAR of Xxxxx Y.Y. Xxxx & Co. SIGNED by Xx. Xxxxxx Xxxx, ) Financial Controller ) For and on behalf of ) MEMEC YASIA PACIFIC LIMITED ) [CHINESE CHARACTERS APPEAR HERE] for and on behalf of the Tenant in ) ) /s/ [ILLEGIBLE] the presence of: ) Authorized Signature(s) /s/ AU XXXX XXX Au Xxxx Xxx D639262(9) RECEIVED on or before the day and ) ) year first above written of and from the ) ) HK$481,524.00 Tenant the sum of HONG KONG ) ) DOLLARS FOUR HUNDRED EIGHTY ) ) ONE THOUSAND FIVE HUNDRED ) ) AND TWENTY FOUR ONLY being the ) ) security deposit of which Hong Kong ) ) For and on behalf of Dollars Four Hundred Twenty Eight ) RAYBEACH INVESTMENT LIMITED ) [CHINESE CHARACTERS APPEAR HERE] Thousand Nine Hundred Seventy Five and ) ) /s/ [ILLEGIBLE] Cents Seventy Only transferred from the ) Authorized Signature(s) ) Tenancy Agreement dated 7th April 2000 The signature(s) is/are verified by /s/ LO CHI HUNG Lo Chi Hung Solicitor, Hong Kong SAR of Xxxxx Y.Y. Xxxx & Co.
Open Market Rent. The sum to be determined by the expert must be the sum at which, acting as an expert and not as an arbitrator or quasi-arbitrator, he decides the Premises might reasonably be expected to be let in the open market at the relevant review date making the Assumptions but disregarding the Disregards. 43 {1}-2.4 CONDUCT OF THE DETERMINATION
Open Market Rent. 2.1 The Open Market Rent shall be the best yearly rent at which the Premises might be expected to be let in the open market:-
Open Market Rent. 17 29 PROCEDURE...............................................................................................18 30 DELAYED REVIEW..........................................................................................19 31 RESTRICTIONS............................................................................................19 32 MEMORANDA...............................................................................................20 33 RECOVERY OF MONEY.......................................................................................20 34 USER....................................................................................................20 35 EASEMENTS...............................................................................................20 36 COVENANTS...............................................................................................20 37 NOTICE..................................................................................................21 38 RIGHT OF RE-ENTRY.......................................................................................21 39 INSOLVENCY..............................................................................................21 40 INTRODUCTION............................................................................................22 41 GUARANTOR'S COVENANT....................................................................................22 SCHEDULE 1 Rights SCHEDULE 2 Exceptions and Reservations SCHEDULE 3 Incumbrances SCHEDULE 4 Authorised Guarantee Agreement
Open Market Rent
