Affordable Workspace Rent definition

Affordable Workspace Rent means the rent to be charged for the Affordable Workspace which shall be at rent levels no more than 75% of Open Market Rent in the Borough for comparable workspace;
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Affordable Workspace Rent means the rent exclusive of rates, reasonable service and building management charges payable by Eligible Tenants Index Linked from the first Occupation of each Part of the Affordable Workspace by each Eligible Tenant to be calculated at the following rates and applicable for the following periods: i) from the date of first Occupation to a date no earlier than the end of the sixth month from the date of first Occupation, the Affordable Workspace shall be let at a peppercorn rent; and ii) thereafter from the end of the sixth month from the date of first Occupation an amount calculated at no more than 75% (seventy five) per cent of the Local Market Rent; PROVIDED ALWAYS that the maximum rent payable by an Eligible Tenant after the sixth month from the date of first Occupation shall not exceed 75% of the Local Market Rent for a period of 30 years from first Occupation of each Part of the the Affordable Workspace; “Affordable Workspace Specification” means a detailed design specification for each Part of the Affordable Workspace to be submitted by the Developer to the Council for approval and which shall include but not be limited to detailed scaled plans and drawings, samples of materials to be used and which includes the minimum requirements set out in Annex 2 to Schedule 7 of this Agreement or such other minimum requirements as may be agreed with the Council; “Affordable means a strategy to be submitted by the Developer to the Council for
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Affordable Workspace Rent means the rent exclusive of rates, reasonable service and building management charges payable by Eligible Tenants Index Linked from the first Occupation of each Part of the Affordable Workspace by each Eligible Tenant to be calculated at the following rates and applicable for the following periods: i) from the date of first Occupation to a date no earlier than the end of the sixth month from the date of first Occupation, the Affordable Workspace shall be let at a peppercorn rent; and ii) thereafter from the end of the sixth month from the date of first Occupation an amount calculated at no more than 75% (seventy five) per cent of the Local Market Rent; PROVIDED ALWAYS that the maximum rent payable by an Eligible Tenant after the sixth month from the date of first Occupation shall not exceed 75% of the Local Market Rent for a period of 30 years from first Occupation of each Part of the the Affordable Workspace;
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Examples of Affordable Workspace Rent in a sentence

  • Use: [xx] Rent: Affordable Workspace Rent as defined in this Agreement.

  • Use: Georgian Terrace Affordable Workspace [xx]- Class E(g)(i) Main Building Affordable Workspace [xx]– Class E(g)(i) Keats House Affordable Workspace [xx]– Class E(g)(i) Rent: Affordable Workspace Rent as defined in this Agreement.


More Definitions of Affordable Workspace Rent

Affordable Workspace Rent means the rent exclusive of rates, reasonable service and building management charges payable by Eligible Tenants Index Linked from the first occupation of the Affordable Workspace by each Eligible Tenant to be calculated at the following rates and applicable for the following periods; i) from the date of first occupation to a date no earlier than the end of the sixth month from the date of first occupation the Affordable Workspace shall be let at a peppercorn rent; and ii) from the end of the sixth month from the date of first occupation an amount calculated at 75% (seventy five) per cent of the Local Market Rent; PROVIDED ALWAYS that the maximum rent payable by an Eligible Tenant after the sixth month from the date of first occupation shall not exceed 75% of the Local Market Rent for a period of 30 years from first occupation of the Affordable Workspace; “Affordable Workspace Specification” means a detailed design specification of the Affordable Workspace to be submitted by the Developer to the Council for approval and which shall include but not be limited to detailed scaled plans and drawings, samples of materials to be used and which includes the minimum requirements set out in Annex 2 to Schedule 7 of this Agreement or such other minimum requirements as may be agreed with the Council; “Affordable Workspace Strategy” means a strategy to be submitted by the Developer to the Council for approval and which includes but shall not be limited to the minimum requirements set out at paragraph 2.2 of Schedule 7 of this Agreement or such other minimum requirements as may be agreed with the Council; “Affordable Workspace” means XX sq m GIA of workspace to be provided as part of the Development in accordance with the Affordable Workspace Specification and which shall be leased by the Developer to an Affordable Workspace Provider pursuant to the Affordable Workspace Lease who shall in turn lease and/or licence the Affordable Workspace to Eligible Tenant(s) and which is shown for indication purposes only on the drawing annexed hereto and labelled [xx]; “Appeal” means an appeal to the Secretary of State under Section 78 (1) of the 1990 Act accepted with a start date of 9 February 2022 and given the appeal reference number APP/A5840/W/22/3290473 & APP/A5840/Y/22/3290477; “Application” means the LBC Application and application for planning permission submitted by the Developer to the Council and received by the Council on 11 December 2018 to carry out the Development ...
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Related to Affordable Workspace Rent

  • Affordable Rent means a rent which does not exceed eighty per centum (80%) of the market rent (inclusive of service charges) for an equivalent property of the relevant size and location such rent to be assessed and set in accordance with the applicable requirements of Legislation and of the Rent Standard;

  • The Works/Project means the works to be executed or done under this contract.

  • Demolition works means any physical activity to tear down or break up a structure (or part thereof) or surface, or the like, and includes the loading of demolition waste and the unloading of plant or machinery.

  • Digital audio-visual work means a series of related images which, when shown in succession, imparts an impression of motion, together with accompanying sounds, if any.

  • Construction Phase Services means the coordination, implementation and execution of the Work required by this Agreement, which are further defined in Article 8.

  • Digital audio-visual works which means a series of related images which, when shown in succession, impart an impression of motion, together with accompanying sounds, if any;

  • The Works/ Project means the works to be executed or done under this contract.

  • School premises means either of the following:

  • Customer Premises means premises owned, controlled or occupied by the Customer which are made available for use by the Supplier or its Sub-Contractors for provision of the Services (or any of them);

  • Protected Space Operations means all Launch or Transfer Vehicle activities, ISS activities, and Payload activities on Earth, in outer space, or in transit between Earth and outer space in implementation of the IGA, MOUs concluded pursuant to the IGA, implementing arrangements, and contracts to perform work in support of NASA's obligations under these Agreements. It includes, but is not limited to:

  • Sewage works means all facilities for collecting, pumping, treating, and disposing of sewage.

  • Building Services Definitions

  • Water-oriented use means a use that is water-dependent, water-related, or water-enjoyment, or a combination of such uses.

  • Infrastructure Improvements means a street, road, sidewalk, parking facility, pedestrian mall, alley, bridge, sewer, sewage treatment plant, property designed to reduce, eliminate, or prevent the spread of identified soil or groundwater contamination, drainage system, waterway, waterline, water storage facility, rail line, utility line or pipeline, transit-oriented development, transit-oriented property, or other similar or related structure or improvement, together with necessary easements for the structure or improvement, owned or used by a public agency or functionally connected to similar or supporting property owned or used by a public agency, or designed and dedicated to use by, for the benefit of, or for the protection of the health, welfare, or safety of the public generally, whether or not used by a single business entity, provided that any road, street, or bridge shall be continuously open to public access and that other property shall be located in public easements or rights-of-way and sized to accommodate reasonably foreseeable development of eligible property in adjoining areas. Infrastructure improvements also include 1 or more of the following whether publicly or privately owned or operated or located on public or private property:

  • Installation Works means, as the context so requires,

  • Home improvement contractor or "contractor" means a person who sells goods and services, or agrees to furnish or render services, to a retail buyer pursuant to a home improvement installment contract, or sells goods and services to a retail buyer pursuant to a home improvement charge agreement, but not in connection with construction of new homes.

  • Infrastructure improvement means permanent infrastructure that is essential for the public health and safety or that:

  • Host Site means the site at which the Site Host Load is consumed, including real property, facilities and equipment owned or operated by the Site Host or its Related Entities located at such site.

  • Construction Works means all works and things necessary to complete the Project in accordance with this Agreement;

  • Digital audio works which means works that result from the fixation of a series of musical, spoken, or other sounds, including ringtones; and

  • Water user means a person, corporation, or other entity having a right to divert water from the Bear River for beneficial use;

  • Gross Rent means the rent for a set-aside unit, including any applicable utility allowances, in compliance with the rent limits applicable to the property for 2020. Gross rent does include optional fees included in the household’s lease, including but not limited to, washer/dryer, cable, parking, etc., as long as they are included in the lease or addendums to the lease. In addition, when a utility that is purchased from or through a local utility company by the Development, who in turn bills residents for actual consumption of the utility will also be eligible when the applicable utility allowance for the Development includes a deduction for the utility and the household’s lease specifies that the resident is responsible for the utility.

  • drainage work means any construction or reconstruction of or any alteration or addition to, or any work done in connection with a drainage installation but shall not include any work undertaken solely for purposes of repair or maintenance;

  • Basic Comprehensive User Guide means the Ministry document titled Basic Comprehensive Certificates of Approval (Air) User Guide” dated April 2004 as amended.

  • Gross Rents means the actual sum of money or other consideration payable for the use or possession of property. "Gross rents" shall include, but not be limited to:

  • Developer means the legal or beneficial owner or owners of a lot or of any land proposed to be included in a proposed development, including the holder of an option or contract to purchase, or other person having an enforceable proprietary interest in such land.