RENT REVIEW PROVISIONS Sample Clauses

RENT REVIEW PROVISIONS. (i) In this Clause the following expressions shall have the following meanings respectively:
AutoNDA by SimpleDocs
RENT REVIEW PROVISIONS. 3.1 The annual Rent shall be reviewed in an upwards only direction on the 10th anniversary of the commencement of the Term and on the expiry of each successive period of ten years thereafter (“the Review Dates”) 3.2 On each Review Date the Rent shall be a sum equal to the Rent payable during the preceding ten years varied by the same proportion as shall be borne by any increase in the Retail Price Index All Items during the same period 3.3 The Management Company shall determine the Rent on the Review Dates and shall notify the Tenant of such determination in writing 3.4 If the Tenant shall object to the Management Company’s determination the Tenant shall serve written notice of such objection together with his own determination within one calendar month of the date of the Management Company’s notice. 3.5 If the Landlord and the Tenant shall fail to agree within one calendar month of the Tenant’s notice the matter shall be referred to the Surveyor for determination and the decision of the Surveyor shall be final and binding upon the Parties save in the case of manifest error 3.6 The fees of the Surveyor for such determination shall be borne equally by the Management Company and the Tenant
RENT REVIEW PROVISIONS. 3.1 The Rent shall be subject to review on each 10th anniversary (for the first 100 years of the term) of the Commencement Date and the reviewed yearly Rent shall be: 3.1.1 with effect from and including the 10th anniversary of the Commencement Date the Rent plus twenty five percent of that amount 3.1.2 with effect from and including each successive 10th anniversary (for the first 100 years of the term) of the Commencement Date the yearly Rent payable immediately prior to the relevant review date plus twenty five percent of that amount

Related to RENT REVIEW PROVISIONS

  • Rent Review 3.1 If the reference base used to compile the Index shall change after today’s date the figure taken to be shown in the Index after the change shall be the figure which would have been shown in the Index if the reference base current at today’s date had been retained 3.2 If it becomes impossible by reason of any change after today’s date in the methods used to compile the Index or for any other reason whatever to calculate the revised Rent by reference to the Index or if any dispute or question whatever shall arise between the parties with respect to the amount of the revised Rent or the determination of the revised Rent such matter shall at the option of the Landlord be determined by an independent valuer to be appointed either by agreement between the parties or in the absence of agreement by the President for the time being of the Royal Institution of Chartered Surveyors (or his duly appointed deputy or any person authorised by him to make appointments on his behalf) on the application of either party who shall have full power to determine on such dates as he shall deem apposite what would have been the increase in the Index had it continued on the same basis and in view of the information assumed to be available for the operation of this rent review or (if that determination shall also be impossible) shall determine a reasonable revised Rent for the Property on such dates having regard to the purposes and intent of the provisions in this Lease for the review of the Rent 4 The Landlord shall give written notice to the Tenant of the amount of the revised Rent and thereafter memoranda (in such form as the Landlord shall reasonably require) recording the amount of the revised Rent shall be signed by or on behalf of the Landlord and the Tenant and annexed to this Lease and the Counterpart thereof and the parties shall bear their own costs of this procedure 5 If the new Rent payable on and from any Review Date has not been agreed by that Review Date Rent shall thereafter be payable at the rate in force immediately before the Review Date and forthwith upon the revised Rent being ascertained the Tenant shall pay to the Landlord an amount representing the difference (“the Shortfall”) between:- 5.1 the amount of the yearly Rent which would have been payable for the period from that Review Date until the next payment date following the date of ascertainment if the revised Rent had been ascertained at that Review Date and 5.2 together with interest at the rate of 2% below the Interest Rate on the Shortfall calculated on a day to day basis upon those parts of the Shortfall which would have been payable if the revised Rent had been ascertained at that Review Date

  • Review Protocol A narrative description of how the Claims Review was conducted and what was evaluated.

  • Review of Agreement Each party acknowledges that it has had time to review this agreement and, as desired, consult with counsel. In the interpretation of this agreement, no adverse presumption shall be made against any party on the basis that it has prepared, or participated in the preparation of, this agreement.

  • Review Procedure If the Plan Administrator denies part or all of the claim, the claimant shall have the opportunity for a full and fair review by the Plan Administrator of the denial, as follows:

  • Agreement Review If, pursuant to section 25.10 (Review of Agreement) of the Bilateral Agreement, the Bilateral Agreement is reviewed after three or five years, or both, of the effective date of the Bilateral Agreement, and any changes to the Bilateral Agreement are required as a result, the Parties agree to amend the Agreement as necessary and in a manner that is consistent with such changes.

  • BASIC PROVISIONS A. Employer's Name: [....] Address: [....] B. The Employer is a ( ) corporation; ( ) S Corporation; ( ) partnership; ( ) Sole Proprietor; ( ) Other: [....] C. Employer's Tax ID Number: [....]

  • Review of legality and data minimisation (a) The data importer agrees to review the legality of the request for disclosure, in particular whether it remains within the powers granted to the requesting public authority, and to challenge the request if, after careful assessment, it concludes that there are reasonable grounds to consider that the request is unlawful under the laws of the country of destination, applicable obligations under international law and principles of international comity. The data importer shall, under the same conditions, pursue possibilities of appeal. When challenging a request, the data importer shall seek interim measures with a view to suspending the effects of the request until the competent judicial authority has decided on its merits. It shall not disclose the personal data requested until required to do so under the applicable procedural rules. These requirements are without prejudice to the obligations of the data importer under Clause 14(e). (b) The data importer agrees to document its legal assessment and any challenge to the request for disclosure and, to the extent permissible under the laws of the country of destination, make the documentation available to the data exporter. It shall also make it available to the competent supervisory authority on request.

  • ADB’s Review of Procurement Decisions 11. All contracts procured under international competitive bidding procedures and contracts for consulting services shall be subject to prior review by ADB, unless otherwise agreed between the Borrower and ADB and set forth in the Procurement Plan.

  • Transition Provisions Any person engaged as an apprentice at the date this award commenced operation shall be deemed to be an apprentice for all purposes of this award until the completion or cancellation of their apprenticeship contract.

  • INSURANCE REQUIREMENT REVIEW Grantee agrees to periodic review of insurance requirements by Agency under this Agreement and to provide updated requirements as mutually agreed upon by Grantee and Agency.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!