Principal Rent definition

Principal Rent means the rent payable under clause 4.1.1;

Principal Rent means the principal rent reserved by this Lease at the rate from time to time payable under clause 2.1 and clause 6;

Principal Rent means the rent first reserved in Clause 2

Examples of Principal Rent in a sentence

• If the Property (or the means of access thereto) are unfit for occupation and use because of damage by an Insured Risk then (save to the extent that payment of the loss of rent insurance moneys is refused due to the act or default of the Tenant) the Principal Rent (or a fair proportion according to the nature and extent of the damage) shall be suspended until the date on which the Property is again fit for occupation and use and/or accessible.

• If the Property is unfit for occupation and use because of damage by an Insured Risk then (save to the extent that payment of the loss of rent insurance moneys is refused due to the act or default of the Tenant) the Principal Rent (or a fair proportion according to the nature and extent of the damage) shall be suspended until the date on which the Property is again fit for occupation and use.

• The Principal Rent shall be reviewed at each Review Date and from and including each Review Date the Principal Rent shall equal the Revised Rent.

• The Principal Rent shall be paid in such manner as the Landlord may, from time to time, determine so that the Landlord shall receive full value in cleared funds on the date when payment is due.

• Dependence on the ManagerThe ability of the Borrower to make payments of interest and principal under the Loan is dependent on Principal Rent received from the Occupational Tenants.

More Definitions of Principal Rent

Principal Rent means the rent stated in the Particulars;

Principal Rent means a peppercorn per annum;

Principal Rent means SIX HUNDRED AND SEVEN THOUSAND EIGHT HUNDRED AND SEVENTY SIX POUNDS AND TWENTY SIX XXXXX (£607,876.26) per annum subject to increase in accordance with the Second Schedule;

Principal Rent has the meaning given to it in the Particulars and in paragraph 1 of the Second Schedule

Principal Rent means ONE HUNDRED AND FIFTY THOUSAND POUNDS (£150,000) per annum;

Principal Rent means ONE HUNDRED AND THIRTY THOUSAND POUNDS (£130,000) per annum and subject to increase in accordance with clause 3.4;

Principal Rent means the rent firstly reserved under the Underlease from time to time;