Profit rent definition
Profit rent means an amount equal to that of the rent payable under the tenancy on which the minor superior tenancy is in immediate reversion, less that of the rent payable under the minor superior tenancy.
Profit rent means an amount equal to that of the rent payable under the lease on which the minor intermediate lease is in immediate reversion, less that of the rent payable under the minor intermediate lease.
Profit rent means the difference between the annual lease rent determined by the market and the rent agreed upon by the lessor and the lessee.
Examples of Profit rent in a sentence
In calculating Net Profit, rent shall be deemed to have been received for any period of free rent, and any lump sum payment received by Tenant from an assignee or sublessee shall be treated like any other amounts so received by Tenant for the applicable annual period and shall be utilized in computing Net Profits in accordance with the foregoing.
More Definitions of Profit rent
Profit rent means an amount equal to that of the rent payable under the tenancy