SERVICE CHARGE CAP Sample Clauses
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SERVICE CHARGE CAP. 2.1 For the purposes of this paragraph the following definitions apply: A the last monthly figure shown in the last edition of the Index published before the start of the service charge period (as defined in paragraph 4.5 below) immediately preceding the relevant review date (or in respect of the first review date , the monthly figure shown in the edition of the Index for November 2012); B the last monthly figure shown in the last edition of the Index published by the Office for National Statistics as at the relevant review date; relevant review date means 1 January 2013 and thereafter the day after the date of expiry of each consecutive service charge period; S the Service Charge Cap payable under this Lease immediately preceding the relevant review date; and Service Charge Cap £129,352 (subject to review in accordance with the provisions of paragraph 2.3 (Review of Service Charge Cap) below).
2.2 Notwithstanding the provisions of this Lease (but subject to paragraph 3.3 below), the Tenant’s liability or payments made during that year in respect of the Service Charge payment reserved by Clause 2(b)(i) shall not in any service charge period exceed the Service Charge Cap (or a proportionate part of the Service Charge Cap in respect of any period of less than 12 months).
SERVICE CHARGE CAP. The Tenant’s Proportion of the Service Charge shall not exceed the sum of €65,649.01 (being €9.50 per square foot of the floor area of the Demised Premises) for each of the first three years of the Term only. For the avoidance of doubt, the Tenant’s obligation to discharge the Service Charge shall be in accordance with the Lease as and from the first day of the fourth year of the Term. The terms of this side letter are personal to Hubspot Ireland Limited and may not be assigned, transferred or otherwise disposed of. This side letter is submitted in duplicate. Please countersign the duplicate to signify agreement with its terms. Yours faithfully, /s/ Illegible for and on behalf of AIG PROPERTY COMPANY LIMITED We hereby accept the terms of the foregoing side letter. /s/ Illegible for and on behalf of HUBSPOT IRELAND LIMITED Dated 11th December 2012
(1) AIG PROPERTY COMPANY LIMITED
(2) HUBSPOT IRELAND LIMITED BETWEEN:
(1) AIG PROPERTY COMPANY LIMITED a company incorporated under the laws of Ireland (registration number 127010) having its registered office at ▇▇ ▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇, ▇▇▇▇, ▇▇▇▇▇▇ ▇ (the “Landlord”); and
SERVICE CHARGE CAP. The Service Charge and any interim payments payable by the Tenant during the any Service Charge Period shall not exceed the Service Charge Cap as applicable to that Service Charge Period
SERVICE CHARGE CAP. 2.3.1 The Service Charge Cap for the Affordable Private Rented Units will be subject to indexation based on increases in the Index and calculated using
SERVICE CHARGE CAP. The Service Charge payable by the Tenant during the first three years of the Term only (but not thereafter) for each square foot of net internal area of the Premises in respect of each Service Charge Period (and in respect to the periods from the Term Commencement Date to 31 December 2008 and from 1 January 2011 to [ ] 2011 the proportion of the figure produced by the calculation below which is the same proportion as the number of days in the relevant period bears to 365) shall not exceed the sum which equals the product to the following formula:-
SERVICE CHARGE CAP. 7.1 In the event that the Landlord (here meaning Learning Tree International Limited only) vacates the Building and becomes an absentee landlord, the Service Charge payable by the Tenant during each Service Charge Period shall not exceed £10.50 per square foot (Cap) (plus Value Added Tax) per annum and pro-rata part thereof for the Service Charge Period current as at the date the Landlord (here meaning Learning Tree International Limited only) vacates the Building (but for the avoidance of doubt the Cap shall not apply to the costs of any electricity or gas incurred in relation to the Services) and for each subsequent Service Charge Period or pro-rata part thereof shall not exceed the sum produced by the following formula: x Cap (plus Value Added Tax) Where A is the Retail Price Index published in the month immediately preceding the Landlord vacating and B is the Retail Price Index published in the month in which this Lease was granted provided that the maximum liability of the Tenant for the Service Charge in any Service Charge Period shall never be less than the Cap (plus Value Added Tax) (apportioned pro-rata in respect of the Service Charge Period current at the date of this Lease and for the Service Charge Period in which the Landlord vacates). If the Retail Price Index shall cease to be published or its base shall be changed or for any reason it is impossible or impracticable to implement the provisions of paragraph 7.1 there shall be substituted such other provisions for limiting any increase in the Service Charge for such years (being as equivalent as may be to the provisions of paragraph 7.1) as shall be agreed and in default of agreement shall be determined by an arbitrator to be appointed by the President.
SERVICE CHARGE CAP. The Tenant’s Proportion of the Service Charge shall not exceed the sum of €44,792.50 (being €9.50 per square foot of the floor area of the Demised Premises) up to 5 December 2015. For the avoidance of doubt, the Tenant’s obligation to discharge the Service Charge shall be in accordance with the Lease as and from the first day of the fourth year of the Term. The terms of this side letter are personal to Hubspot Ireland Limited and may not be assigned, transferred or otherwise disposed of. This side letter is submitted in duplicate. Please countersign the duplicate to signify agreement with its terms. Yours faithfully, for and on behalf of We hereby accept the terms of the foregoing side letter. for and on behalf of THIS RENUNCIATION made the 31st day of January 2014
1. In this Renunciation the following words and expressions have the following meanings:-
SERVICE CHARGE CAP. 11.1 The Service Charge payable under this Part 2 by the Tenant for each Service Charge Year shall not be in excess of the Service Charge Cap for that Service Charge Year.
11.2 On the first day of each Service Charge Year (the Adjustment Dates and Adjustment Date shall be construed accordingly) the Service Charge Cap shall be adjusted so that the Service Charge Cap for the immediately following Service Charge Year shall be the higher of:
11.2.1 the Service Charge Cap applicable under this Lease immediately before the relevant Adjustment Date (the Current Service Charge Cap); and
11.2.2 the Current Service Charge Cap adjusted by multiplying the Current Service Charge Cap by the RPI (all items) index figure last published prior to the relevant Adjustment Dates and dividing the result by the Base Figure.
SERVICE CHARGE CAP. The Service Charge payable by the Tenant during the first three years of the Term only (but not thereafter) for each square foot of net internal area of the Premises in respect of each Service Charge Period (and in respect to the periods from the Term Commencement Date to 31 December 2008 and from 1 January 2011 to [ ] 2011 the proportion of the figure produced by the calculation below which is the same proportion as the number of days in the relevant period bears to 365) shall not exceed the sum which equals the product to the following formula:- £X x A - B Where:- X = £4.85 per square foot provided that in any period where the Landlord is providing concierge services this figure shall be increased to £6.60 per square foot; A = the amount of the Index for the month immediately preceding the commencement of the relevant Service Charge Period; and B = the amount of the Index last published before the date of this Lease (being [ ]) And the following provisions shall apply:
(A) If the reference base used to compile the Index shall change after the date of this Lease 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 such date had been retained;
(B) If it becomes impossible by reason of any change after the date of this Lease in the methods used to compile the Index or for any other reason whatever to make the calculations provided for in this paragraph by reference to the Index or if any dispute or question whatever shall arise between the parties with respect of the maximum amount of the Service Charge by virtue of this paragraph or to the construction or effect of this paragraph the same shall be referred to an independent surveyor acting as arbitrator appointed (in the absence of agreement between the parties) on the application of either the Landlord or the Tenant by the President for the time being of the Royal Institution of Chartered Surveyors or his duly appointed deputy (this being deemed to be a submission to arbitration within the meaning of the Arbitration Act 1996) and such surveyor shall have full power to determine what would have been the value of the Index on the relevant dates had it continued on the basis previously applying or (if that determination shall be impossible) shall determine the sum referred to in this paragraph for the relevant Service Charge Period having regard to the purposes and intents of this paragraph;
(C) For the avoida...