Rent on Renewal. The Annual Rent payable from the beginning of each Renewal Term, and during each Renewal Term, will be subject to adjustment in accordance with clause 5 on the Adjustment Dates.
Rent on Renewal. The Annual Rent payable from the beginning of each Renewal Term shall be the greater of the current market rent as at the relevant Renewal Date or a three percent increase on the prevailing Annual Rent payable immediately prior to the relevant Renewal Date. The current market rent as at the relevant Review Date shall be determined in accordance with clauses 3.2 and 3.3. Pending determination of the new rent, the Lessee shall pay an interim rent in accordance with clauses 3.4 and 3.5.
Rent on Renewal. Subject to clause 3.4, the Annual Rent payable from the beginning of each Renewal Term will be:
