Second and subsequent Review Dates Sample Clauses
The 'Second and subsequent Review Dates' clause defines the schedule and process for reviewing certain terms of an agreement, typically after the initial review has taken place. This clause specifies when future reviews will occur, such as annually or at other predetermined intervals, and may outline the procedures or criteria for these reviews, for example, adjusting rent or service fees based on market rates or inflation. Its core practical function is to ensure that the terms of the agreement remain fair and relevant over time by providing a structured mechanism for periodic reassessment and adjustment.
Second and subsequent Review Dates. Every 31 December for the Term By using the same Rent Review process as for the First Review Date in the row above, except that references to “First Review Date” will be read as references to the second or subsequent Review Dates (as appropriate).