Payment on Determination Clause Samples

Payment on Determination. On the payment date there shall be payable by the Tenant to the Landlord by way of rent (in addition to the amount of the Rent otherwise due on that day) the aggregate of the amounts by which the instalments of the Rent payable on account in respect of that period in accordance with paragraph 7 hereof fall short of the amounts which would have been payable if the Rent for that period had been ascertained before the first day for payment (hereinafter called "the Ascertained Rent") and the arbitrator may direct that interest at the rate prescribed under Section 22 Courts Act 1981 be paid on each instalment due prior to the Payment Date on the difference between the Rent paid on account in accordance with paragraph 7 hereof and the Ascertained Rent for the period from the date the said instalment was due up to the date upon which payment is actually made and the arbitrator shall so direct if in his view it is reasonable in all the circumstances including the parties' conduct on the review and the result of his substantive determination.