Principal Rent definition

Principal Rent means the rent payable under clause 4.1.1;

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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 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.

• 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 clause 5.4 applies before the Rent Commencement Date the number of days between the date of the damage or destruction and the Rent Commencement Date (or where only a proportion of the Principal Rent is or would have been suspended, an equivalent proportion of those days) will be added to the date the period of rent suspension ends and the resulting date will become the Rent Commencement Date.

• If the Property (or the means of access thereto) are wholly or partly 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 and the Service Charge (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.

• The Principal Rent and any Value Added Tax chargeable on it shall be paid in four (4) equal instalments in advance on each 25th March, 24th June, 29th September and 25th December in every year.

More Definitions of Principal Rent

Principal Rent means the rent stated in the Particulars;

Principal Rent means a peppercorn per annum;

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

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

Principal Rent means SIX HUNDRED AND SEVEN THOUSAND EIGHT HUNDRED AND SEVENTY SIX POUNDS AND TWENTY SIX ▇▇▇▇▇ (£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. “Rent Commencement Date”, “Permitted Use”, “Building”, “Rent Review Date(s)” and “Tenant’s Break Date” have the meanings given to them in clauses A to F.