Current Market Rent definition

Current Market Rent for property means the consideration (including rent and any other form of valuable consideration) that a lessee might reasonably be expected to pay under a lease of the property, if it were unoccupied and offered for renting, expressed as a rate of rent per annum;

Current Market Rent means the rent as assessed by the valuer appointed by the Scottish Executive Health Department for the purposes of valuing dental premises for the purposes of reimbursement of rental costs under this Determination;

Current Market Rent means that rent that would be paid for improved industrial space in industrial buildings of similar age and class in the vicinity where the Premises are located, as between persons dealing in good faith and at arms’ length, without reduction for any cash payment, leasehold improvement allowance, rent-free period or other inducement.

Examples of Current Market Rent in a sentence

• If the Annual Base Rent payable during an Extension Term is not agreed upon at least three (3) months prior to the commencement of such Extension Term, then each party shall, within thirty (30) days thereafter, mandate an appraiser licensed in the Province where the Premises are located, to determine the Current Market Rent for the Premises.

• When Required, per the Appraisal Instructions)For certain engagements, the appraisal report will require an estimate of Current Market Rent.

• In the event that a party fails to appoint an appraiser within such thirty (30) days and has failed to remedy such failure within five (5) days of written notice thereof from the other party, then the Annual Base Rent shall be the Current Market Rent for the Premises, as determined by the sole appraiser.

• NOTE: The Current Market Rent opinion is NOT necessary for the Second Appraisal or Property Owner commissioned appraisal in the Appeal Process.

• If two appraisers are appointed, in the event that the higher of the amounts so determined by one appraiser does not exceed the lower so determined by the other appraiser by more than 15%, then the Annual Base Rent shall be the average of the two, otherwise, the two appraisers shall jointly name a third appraiser licensed in the Province of Ontario who shall be mandated to determine the Current Market Rent for the Premises.

More Definitions of Current Market Rent

Current Market Rent means the best rent that can be obtained for the Premises in an open market by a willing but not anxious lessor with or without vacant possession and on the following conditions:

Current Market Rent means the annual rent that can reasonably be obtained for the Premises in the open market by a willing but not anxious lessor but adjusted to reflect the following conditions:

Current Market Rent means the best rent that can be obtained for the Leased Premises in an open market by a willing but not anxious lessor with or without vacant possession and on the following conditions: • on the terms and conditions of this Lease for the whole of the Term (and not just the remaining balance of the Term); • on the basis that the Lessee has complied with all of the obligations under this Lease; • not taking into account any damage or destruction to the Leased Premises and not taking into account any resulting suspension or abatement of rent; • not taking into account any disturbance or nuisance to the Lessee’s use of the Leased Premises caused by any act or neglect of the Lessor or any adjoining owner or occupier; • not taking into account any improvements or fixtures erected or installed at the Lessee’s expense which the Lessee is permitted to remove at the end of this Lease; • taking into account any increase in value of the Leased Premises arising from any permanent improvements at the expense of either the Lessee or the Lessor and which the Lessee shall not be entitled to remove; • not taking into account any goodwill attributable to the Leased Premises by reason of any trade, business or actions carried on by the Lessee; and • not taking into account any cash, premium, payment, abatement, allowance or other incentive paid, offered or allowed in respect of this Lease or being offered or given in respect of comparable premises to induce lessees to take a lease of or remain in such comparable premises.

Current Market Rent means the gross full market rent without any deduction whatsoever at which the demised premises might reasonably be expected to be let at the nearest Review Date in the open market without a fine or premium and with vacant possession thereof by a willing Landlord to a willing Tenant for a term equal to the term of this Lease but having regard to any statutory rights of the Tenant of renewal under a Lease on the same terms and conditions in all other respects as this present Lease and upon the supposition (if not a fact) that the Tenant has complied with all the obligations as to repair and decoration herein imposed there being disregarded:

Current Market Rent means the current annual market rental value of the Premises agreed or determined in accordance with clause 4.

Current Market Rent means the gross full market rent without any deduction whatsoever at which the demised premises might reasonably be expected to be let at the nearest Review Date on the open market without fine or premium as between a willing Lessor and a willing Lessee and with vacant possession for the term unexpired of this Lease and on the same terms and conditions in all other respects as this present Lease (other than the amount of rent hereby reserved but including the provision for five yearly rent reviews) and upon the supposition (if not a fact) that the demised premises includes adequate heating to the office portion thereof and that the covenants on the part of the Lessee herein have been fully performed and observed there being disregarded:-

Current Market Rent means that rent that would be paid for improved office space in office buildings of similar age and class in West Vancouver, British Columbia, as between persons dealing in good faith and at arms' length, without reduction for any cash payment, leasehold improvement allowance, rent-free period or other Inducement;