Common use of Payment of Rent Shortfall Payment Clause in Contracts

Payment of Rent Shortfall Payment. (a) The Vendor must pay the Rent Shortfall Payment in respect of the Rental Shortfall Vacant Tenancies and Negotiated Leases for each Payment Period during the Rent Shortfall Guarantee Period to the Purchaser in accordance with this clause 25. (b) At the end of each Payment Period, the Purchaser must give the Vendor: (1) in respect of any Rental Shortfall Vacant Tenancy , the Purchaser’s calculation of the Rent Shortfall Payment for that Payment Period, including documents and other evidence reasonably necessary to substantiate the Purchaser’s calculation; and (2) a tax invoice for the amount of the Rent Shortfall Payment being claimed. (c) Within 5 Business Days of receipt of a claim from the Purchaser under clause 25.1(b), the Vendor must either: (1) issue a written direction to the Vendor’s Solicitors to pay the amount claimed from the Retention Amount to the Purchaser; or (2) give notice to the Purchaser that it disagrees with the Purchaser’s calculation or has not been provided with sufficient details to verify the calculation. (d) If the Vendor gives a notice under clause 25.1(c)(2), the Vendor and the Purchaser must meet in good faith to determine the amount of the Rent Shortfall Payment payable to the Purchaser for the relevant Payment Period. (e) If the Vendor does not give a notice under clause 25.1(c) within the time required, the Vendor is deemed to have accepted the Purchaser's claim and the purchaser and the Vendor’s Solicitors are automatically authorised to pay the amount claimed from the Retention Amount to the Purchaser without further direction or authority, on demand by the Purchaser

Payment of Rent Shortfall Payment. (a) The Vendor must pay the Rent Shortfall Payment in respect of the Rental Shortfall Vacant Tenancies and Negotiated Leases for each Payment Period during the Rent Shortfall Guarantee Period to the Purchaser in accordance with this clause 25. (b) At the end of each Payment Period, the Purchaser must give the Vendor: (1) in respect of any Rental Shortfall Vacant Tenancy Tenancy, the Purchaser’s calculation of the Rent Shortfall Payment for that Payment Period, including documents and other evidence reasonably necessary to substantiate the Purchaser’s calculation; and (2) a tax invoice for the amount of the Rent Shortfall Payment being claimed. (c) Within 5 Business Days of receipt of a claim from the Purchaser under clause 25.1(b), the Vendor must either: (1) issue a written direction to the Vendor’s Solicitors to pay the amount claimed from the Retention Amount to the Purchaser; or (2) give notice to the Purchaser that it disagrees with the Purchaser’s calculation or has not been provided with sufficient details to verify the calculation. (d) If the Vendor gives a notice under clause 25.1(c)(2), the Vendor and the Purchaser must meet in good faith to determine the amount of the Rent Shortfall Payment payable to the Purchaser for the relevant Payment Period. (e) If the Vendor does not give a notice under clause 25.1(c) within the time required, the Vendor is deemed to have accepted the Purchaser's claim and the purchaser and the Vendor’s Solicitors are automatically authorised to pay the amount claimed from the Retention Amount to the Purchaser without further direction or authority, on demand by the Purchaser.

Payment of Rent Shortfall Payment. (a) The Vendor must pay the Rent Shortfall Payment in respect of the Rental Shortfall Vacant Tenancies and Negotiated Leases for each Payment Period during the Rent Shortfall Guarantee Period to the Purchaser in accordance with this clause 2527. (b) At the end of each Payment Period, the Purchaser must give the Vendor: (1) in respect of any Rental Shortfall Vacant Tenancy , the Purchaser’s calculation of the Rent Shortfall Payment for that Payment Period, including documents and other evidence reasonably necessary to substantiate the Purchaser’s calculation; and (2) a tax invoice for the amount of the Rent Shortfall Payment being claimed. (c) Within 5 Business Days of receipt of a claim from the Purchaser under clause 25.1(b27.1(b), the Vendor must either: (1) issue a written direction to the Vendor’s Solicitors to pay the amount claimed from the Retention Amount to the Purchaser; or (2) give notice to the Purchaser that it disagrees with the Purchaser’s calculation or has not been provided with sufficient details to verify the calculation. (d) If the Vendor gives a notice under clause 25.1(c)(227.1(c)(2), the Vendor and the Purchaser must meet in good faith to determine the amount of the Rent Shortfall Payment payable to the Purchaser for the relevant Payment Period. (e) If the Vendor does not give a notice under clause 25.1(c27.1(c) within the time required, the Vendor is deemed to have accepted the Purchaser's claim and the purchaser and the Vendor’s Solicitors are automatically authorised to pay the amount claimed from the Retention Amount to the Purchaser without further direction or authority, on demand by the Purchaser,

Payment of Rent Shortfall Payment. (a) The Vendor must pay the Rent Shortfall Payment in respect of the Rental Shortfall Vacant Tenancies and Negotiated Leases for each Payment Period during the Rent Shortfall Guarantee Period to the Purchaser in accordance with this clause 25. (b) At the end of each Payment Period, the Purchaser must give the Vendor: (1) in respect of any Rental Shortfall Vacant Tenancy Tenancy, the Purchaser’s calculation of the Rent Shortfall Payment for that Payment Period, including documents and other evidence reasonably necessary to substantiate the Purchaser’s calculation; and (2) a tax invoice for the amount of the Rent Shortfall Payment being claimed. (c) Within 5 Business Days of receipt of a claim from the Purchaser under clause 25.1(b), the Vendor must either: (1) issue a written direction to the Vendor’s Solicitors to pay the amount claimed from the Retention Amount to the Purchaser; or (2) give notice to the Purchaser that it disagrees with the Purchaser’s calculation or has not been provided with sufficient details to verify the calculation. (d) If the Vendor gives a notice under clause 25.1(c)(2), the Vendor and the Purchaser must meet in good faith to determine the amount of the Rent Shortfall Payment payable to the Purchaser for the relevant Payment Period. (e) If the Vendor does not give a notice under clause 25.1(c) within the time required, the Vendor is deemed to have accepted the Purchaser's claim and the purchaser and the Vendor’s Solicitors are automatically authorised to pay the amount claimed from the Retention Amount to the Purchaser without further direction or authority, on demand by the Purchaser,