Rent Reviews. 23.1. This condition 23 applies where the lot is sold subject to a tenancy under which a rent review due on or before the actual completion date has not been agreed or determined.
23.2. The seller may continue negotiations or rent review proceedings up to the actual completion date but may not agree the level of the revised rent or commence rent review proceedings without the written consent of the buyer, such consent not to be unreasonably withheld or delayed.
23.3. Following completion the buyer must complete rent review negotiations or proceedings as soon as reasonably practicable but may not agree the level of the revised rent without the written consent of the seller, such consent not to be unreasonably withheld or delayed.
23.4. The seller must promptly:
23.4.1. give to the buyer full details of all rent review negotiations and proceedings, including copies of all correspondence and other papers; and
23.4.2. use all reasonable endeavours to substitute the buyer for the
23.5. The seller and the buyer are to keep each other informed of the progress of the rent review and have regard to any proposals the other makes in relation to it.
23.6. When the rent review has been agreed or determined the buyer must account to the seller for any increased rent and interest recovered from the tenant that relates to the seller’s period of ownership within five business days of receipt of cleared funds.
23.7. If a rent review is agreed or determined before completion but the increased rent and any interest recoverable from the tenant has not been received by completion the increased rent and any interest recoverable is to be treated as arrears.
23.8. The seller and the buyer are to bear their own costs in relation to rent review negotiations and proceedings.
Rent Reviews. 5.1 The Rental may be reviewed to market by the Landlord on each anniversary of the Commencement Date in accordance with the provisions of the Residential Tenancies Xxx 0000.
5.2 If, following any Rent Review the Tenant’s total household income has changed, rent will be calculated as follows:
a. If the Tenant still qualifies for a Subsidised Rent, the rental shall be calculated to 80% of market rent, as determined by the Landlord, or 30% of the gross household income, whichever is the greater; or
b. If the Tenant no longer qualifies for a Subsidised Rent, then the rental shall be increased to full market rent, as determined by the Landlord.
Rent Reviews. If the Property is sold subject to a tenancy under which a rent review is due on or before the completion date, the Seller may continue negotiations up to the completion date but may not agree the level of revised rent without the written consent of the Buyer. The Seller must promptly give to the Buyer full details of rent review proceedings and carry out all reasonable measures to substitute the Buyer for the Seller in the proceedings following completion. Following completion, the Buyer must complete the rent review proceedings as soon as possible but cannot agree the level of revised rent without the consent of the Seller (not to be unreasonably withheld or delayed). When the rent review has been finalised, the Buyer must account to the Seller for any funds received in respect of higher rent that relates to a period when the Seller was entitled to the rent from the Property. The Seller and Xxxxx are to bear their own costs in relation to rent review proceedings.
Rent Reviews. Rent reviews, where Authority is Tenant Agreed rent p.a. Tranche Fee £ £
Rent Reviews accounting. When the rent review has been agreed, the buyer must account to the seller for any increased rent recovered from the tenant that relates to the seller’s ownership of the property within 5 business days of receiving the rent. If a rent review is agreed before completion but the increased rent recoverable has not been received by completion, the amount recoverable will be treated as arrears.
Rent Reviews. 5.1 The Rental may be reviewed to market by the Landlord on each anniversary of the Commencement Date in accordance with the provisions of the Residential Tenancies Xxx 0000.
Rent Reviews. 11.1 The Rent will be reviewed at the times (if any) specified in item 11 of Schedule 1 as follows:
11.1.1 the Council may initiate the Rent the Council proposes for the ensuing period. If the Tenant agrees with the Rent proposed it will be the Rent for the ensuing period;
11.1.2 if within fourteen days of receiving the written notice the Council and the Tenant do not agree upon the Rent it will be determined by a valuer registered under the Valuation of Land Xxx 0000 who is a practising member of the Australian Property Institute (API) appointed by the parties or if they are unable to agree on the appointment within seven days appointed by the president of the API at the request of the Council;
11.1.3 in determining the current market rent of the Land the valuer will:
(a) consider any written submission made by the parties within twenty- one days of them being informed of his appointment;
(b) determine the Rent as an expert;
(c) assume that the Land is available for leasing with a sitting Tenant for a term equal to the term of this Lease and with any options for renewal;
(d) take into account the terms and conditions and permitted use set out this Lease;
(e) assume that the Tenant's covenants have been fully performed;
(f) ignore any Premises fixtures and fittings which the Tenant has the right to remove from the Property and improvements voluntarily made by the Tenant;
(g) ignore the goodwill of the Tenant's business;
(h) have regard to the current market rentals for comparable land in the locality.
11.2 Unless this is a lease to which the whole of the Retail Leases Xxx 0000 applies the valuer will determine a rent at least equal to the Rent being paid immediately prior to the review.
11.3 The valuer will make and inform the parties of his determination of the Rent as soon as possible after the twenty-one day period for making submissions. If the valuer fails to determine the Rent within forty-two days of the parties being informed of his appointment or resigns or becomes incapacitated then a similarly qualified valuer may be appointed in his place in the manner set out in this clause.
11.4 The valuer's determination will be final and will bind the parties.
11.5 The Council and the Tenant will bear equally the valuer's fee for making the rent determination. If either party pays more than one half of the fee that party may recover the excess from the other party.
11.6 Until the valuer's determination has been made the Tenant will continue to pay the Rent ...
Rent Reviews. Each Obligor shall promptly notify the Agent in writing of the outcome of any rent review undertaken pursuant to the terms of any Occupation Lease (other than a Permitted Lease, provided that following rent review, the rent payable pursuant to the relevant Occupational Lease still makes it a Permitted Lease).
Rent Reviews. The Principal Rent shall be reviewed at each Review Date in accordance with the provisions of this clause and from and including each Review Date the Principal Rent shall equal the higher of:-
5.2.1 the Principal Rent contractually payable immediately before the Relevant Review Date (or which would be payable but for any suspension of rent (in whole or in part) under this Lease); and
5.2.2 the Open Market Rent on the Relevant Review Date as agreed or determined pursuant to this clause.
Rent Reviews. 2.6.1 Rent reviews, where Customer is Tenant Agreed rent p.a. £ Tranche Fee %
