Common use of The Rental Clause in Contracts

The Rental. 5.1 The commencement rental shall be as per the attached Schedule 3 of the agreement. 5.2 The lease commences with the commencement rental. Thereafter the rental shall escalate with the compounded escalation rate on each adjustment dates. 5.3 The rental shall be payable from the occupation date monthly in advance on or before the seventh day of each month into the Lessor’s bank account. 5.4 The parties agree that all the rental payable in terms of this agreement shall include value-added tax where such tax is payable. The Lessor shall specify such tax for record and tax purposes separately from the basic rental. 5.5 The Lessor shall be liable to pay all the rates, taxes and levies in respect of the premises to the concerned authority as well as any and all increases therein. 5.6 The Lessor shall invoice the Lessee for the monthly rental 5 (five) business days before the last date of each month in a form which meets the cidb requirements and standards. 5.7 The Monthly invoice shall provide the particulars of :_ i. the rental payable in respect of each month; ii. the total deduction made (if any) in respect of repairs undertaken by the Lessee in terms of this Lease; iii. the total penalty deduction made (if any) in terms of this Lease ; and iv. the Net Rental payable after the deductions stipulated in Clause 5.7 (ii) and