Review Rent definition

Review Rent means the yearly market rack rental value which might reasonably be expected to be payable, following the expiry of any period at the beginning of the term which might be negotiated in the open market for the purposes of fitting out, during which no rent, or a concessionary rent, is payable (and on the assumption that the lessee has had the benefit of such rent free or concessionary rent period), if the Demised Premises had been let in the open market by a willing lessor to a willing lessee with vacant possession, on the relevant Review Date, without fine or premium, for a term of ten years computed from the relevant Review Date, and otherwise upon the provisions (save as to the amount of the rent first reserved by this lease but including the provisions for rent review at three-yearly intervals) contained in this lease and on the assumption if not a fact that the said provisions have been fully complied with and on the further assumptions that: 1.3.1 the Permitted Use and the Demised Premises comply with Planning Law and every other Enactment and that the lessee may lawfully implement and carry on the Permitted Use; 1.3.2 the Demised Premises have been fitted out and are fit for immediate occupation and operation of the Permitted Use; 1.3.3 no work has been carried out to the Demised Premises which has diminished their rental value; 1.3.4 in case the Demised Premises or the Science Park or any part of it has been destroyed or damaged they have been fully restored. but disregarding any effect on rent of: (i) the fact that the Tenant or any underlessee or other occupier or their respective predecessors in title has been or is in occupation of the Demised Premises; (ii) any goodwill attached to the Demised Premises by the carrying on in them of the business of the Tenant or any underlessee or their respective predecessors in title or other occupier; and (iii) (without prejudice to paragraphs 1.3.2 and 1.3.3) any works carried out to the Demised Premises during the Term by the Tenant or any permitted underlessee, in either case at its own expense in pursuance of a licence granted by the Landlord and otherwise than in pursuance of any obligation to the Landlord and any other works carried out at the Demised Premises by the Tenant under any previous tenancy whether or not so licensed by the Landlord.
Sample 1
Review Rent means the yearly market rack rental value which might reasonably be expected to be payable, following the expiry of any period at the beginning of the term which might be negotiated in the open market for the purposes of fitting out, during which no rent, or a concessionary rent, is payable (and on the assumption that the lessee has had the benefit of such rent free or concessionary rent period), if the Demised Premises had been let in the open market by a willing lessor to a willing lessee with vacant possession, on the relevant Review Date, without fine or premium, for a term of ten years computed from the relevant Review Date, and otherwise upon the provisions (save as to the amount of the rent first reserved by this lease but including the provisions for rent review at three-yearly intervals) contained in this lease and on the assumption if not a fact that the said provisions have been fully complied with and on the further assumptions that: 1.3.1 the Permitted Use and Demised Premises comply with Planning Law and every other Enactment and that the lessee may lawfully implement and carry on the Permitted Use; 1.3.2 the Demised Premises have been fitted out and are fit for immediate occupation and operation of the Permitted Use; 1.3.3 no work has been carried out to the Demised Premises which has diminished their rental value; 1.3.4 in case the Demised Premises or the Science Park or any part of it has been destroyed or damaged they have been fully restored, but disregarding any effect on rent of: (i) the fact that the Tenant or any underlessee or other occupier or their respective predecessors in title has been or is in occupation of the Demised Premises; (ii) any goodwill attached to the Demised Premises by the carrying on in them of the business of the Tenant or any underlessee or their respective predecessors in title or other occupier; and (iii) (without prejudice to paragraphs 1.3.2 and 1.
Sample 1
Review Rent means the higher of the Current Rent and the Market Rent
Sample 1

Examples of Review Rent in a sentence

  • If upon any such review as aforesaid it shall be agreed or determined that the Review Rent is greater or less than the Current Rent the Landlord and the Tenant shall as soon as practicable after such determination or expiration complete and sign a written memorandum recording the Review Rent payable from the Review Date payable and the Tenant shall pay the Stamp Duty payable on such Memorandum.

  • Review Rent Abatement and Rent Set-Off conditions (Other than pro-rata rent abatement in the case of partial casualty with termination or abatement on restoration) and evaluate impact.

  • This Article shall be known as the "City of Alameda Rent Review, Rent Stabilization and Limitations on Evictions Ordinance." 6-58.15.

  • Simplifying the manner in which loans will be made is a desirable objective from the perspective of small business.

  • The yearly rent first reserved and payable from the Review Date until the expiry of the Term shall be the Review Rent.

  • Title This Article shall be known as the "City of Alameda Rent Review, Rent Stabilization and Limitations on Evictions Ordinance." 6-58.15.

  • The yearly rent first reserved and payable from each Review Date until the next Review Date (or, in the case of the period commencing on the last Review Date during the Term, until expiry of the Term) shall be the Review Rent.

  • The following are three terms used in the M2M Release 5.5.1. These terms are the three possible options that the PAE is contracted to perform on a property for OAHP: Comp Review (Rent Comparability Review)—One of the three scopes of work possible for assets that are sent to OAHP by the HUD Program Centers or Preservation Offices.

  • Following the City Council’s adoption of the Rent Review, Rent Stabilization and Limitations on Evictions Ordinance 3148 (Ordinance) in March 2016, the City also placed the Ordinance on the November 2016 ballot.

  • Tenancy Castleward Phase 1 Castleward Phase 2 Nightingale Quarter Identified for future mixed-use development Unit Name Tenant Area (sq ft) Lease Start Lease Expiry Next Review Rent (pa) Rent (psf) ERV (psf) ERV (pa) Comments / Asset Management Leisure Gala Leisure Ltd * 26,737 25/12/1996 24/12/2036 25/12/2021 £318,750 £11.92 £11.92 £318,750 Xxxx completed a new reversionary lease on 26th Feb 2018 for an additional 15 years from 25 Dec 2021 - lease expiry therefore 24 Dec 2036.


More Definitions of Review Rent

Review Rent means the yearly market rent as would be negotiated in the open market by a willing lessor to a willing lessee which might reasonably be expected to be payable after the expiry of a rent free period or concessionary rent or capital payment in lieu thereof for the purposes of fitting out as would be negotiated in the open market by a willing lessor to a willing lessee with vacant possession on the Review Date without fine or premium for a term of 10 years and otherwise upon the provisions (save as to the amount of the rent first reserved by this Lease) contained in this Lease and on the assumption if not a fact that the Tenant’s covenants and obligations hereunder have been fully complied with and on the further assumptions that:
Sample 1
Review Rent means the yearly market rack rental value which might reasonably be expected to be payable, following the expiry of any period at the beginning of the term which might be negotiated in the open market for the purposes of fitting out, during which no rent, or a concessionary rent, is payable, if the Premises had been let in the open market by a willing lessor to a willing lessee with vacant possession, on the Review Date, without fine or premium, for a term of ten years from the Review Date, and otherwise upon the provisions (save as to the amount of the Yearly Rent but including the provisions for rent review at five yearly intervals) contained in this lease and on the assumptions that: 1.2.1 the provisions of this lease have been complied with (save in respect of the Landlord’s obligations where the Landlord is in persistent breach of the same); 1.2.2 the Permitted Use and the Premises comply with Planning Law and every other Enactment and that the lessee may lawfully implement and carry on the Permitted Use; 1.2.3 the Premises are fit for immediate occupation and operation of the Permitted Use; 1.2.4 the Premises have been completed to the standard described in the Specification; 1.2.5 no work has been carried out to the Premises which has diminished their rental value; 1.2.6 in case the Premises or the remainder of the Building or any part of it has been destroyed or damaged it has been fully restored; 1.2.7 the Net Internal Area of the Premises is 10,972 square feet, 1.2.8 but disregarding any effect on rent of: (A) the fact that the Tenant or other occupier or their respective predecessors in title has been or is in occupation of the Premises; (B) any goodwill attached to the Premises by the carrying on of any business in them; (C) any works carried out to the Premises during the Term by or on behalf of the Tenant or any permitted underlessee, in either case at its own expense pursuant to a licence granted by the Landlord and otherwise than pursuant to an obligation to the Landlord provided that the obligation to comply with all Enactments in clause 4.2 shall not be an obligation to the Landlord for the purposes of this paragraph; and (D) the Tenant's Works (save for the Division Works) as defined in the Agreement for Lease dated 25 August 2009 made between the Landlord (1) and the Tenant (2).
Sample 1
Review Rent means the full yearly open market rent without any deduction whatsoever at which the Premises and the give (5) car parking spaces described in Clause 2 Part IV of the First Schedule might reasonably be expected to be let at the relevant 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 of ten (10) years computed from the Relevant Review Date with an entitlement for the Tenant to terminate the said lease at the expiration of the fifth year of the said term and otherwise on the same terms and conditions in all other respects as this present Lease (save as to the amount of rent first reserved under this Lease and any rent free periods to which the Tenant was entitled outside of the terms of this Lease but including the provisions for rent review) and upon the assumptions that: (i) the Premises are provided to the Tenant as per the Landlord’s Specification (at the Landlord’s expense) and are ready for immediate occupation for fitting out purposes. (ii) in case the building of which the Premises form part or any part of it has been destroyed or damaged it has been fully restored. (iii) all the obligations on the part of the Tenant contained in this Lease have been fully complied with. (iv) no work has been carried out to the Premises other than works to comply with statutory requirements. (v) the Premises comprise 11,997 (eleven thousand nine hundred and ninety seven) square feet square feet of net lettable office space. and there being disregarded: (1) any effect on rent of the fact that the Tenant or any underlessee has been in occupation of the Premises and any goodwill attached to the Premises by reason of the carrying on thereat of the business of the Tenant or any underlessee; (2) the Tenant’s Works; (3) any effect on rent of any alterations to the Premises or any part thereof carried out by the Tenant or any underlessee with the consent of the Landlord at the Tenant’s or underlessee’s own expense (otherwise than in pursuance of any obligation to the Landlord) and carried out during the Term or pursuant to the Agreement for Lease.
Sample 1
Review Rent means the yearly clear market rack rental value which might reasonably be expected to be payable following the expiry of any period at the beginning of the term which might be negotiated in the open market for the purposes of fitting out during which no rent or a concessionary rent is payable (and on the assumption that the lessee is to have the benefit of such rent free or concessionary rent period) if the Premises had been let as a whole by one lease in the open market by a willing lessor to a willing lessee with vacant possession on the Review Date without fine or premium for a term of ten years computed from the Review Date and otherwise upon the provisions (save as to the amount of the rent first reserved by this lease but including the provision for rent review on the expiry of the fifth year of the notional term) contained in this lease and on the assumption if not a fact that the said provisions have been fully complied with and on the further assumptions that:- (a) the Permitted Use and the Premises comply with Planning Law and every other Enactment free from any onerous condition restriction and limitation and that the lessee may lawfully implement and carry on the Permitted Use (b) the Premises are fully fitted out for the lessee's business and are fit and fully Carpeted and equipped together with Floor Boxes (that is to say eighty-nine in number) for immediate occupation and operation of the Permitted Use
Sample 1

Related to Review Rent

  • Rent means “eligible rent” to which regulation 12 of the Housing Benefit (Persons who have attained the qualifying age for state pension credit) Regulations 2006 refer, less any deductions in respect of non-dependants which fall to be made under paragraph 30 (non-dependant deductions);

  • Additional Rent means all amounts payable by the Tenant under this Lease except Base Rent, whether or not specifically designated as Additional Rent elsewhere in this Lease;

  • Excess Rent means the excess of (a) all consideration received by Tenant from a Transfer over (b) Rent payable under this Lease after deducting reasonable tenant improvements paid for by Tenant, reasonable attorneys’ fees and any other reasonable out-of-pocket costs paid by Tenant as a result of the Transfer (but specifically excluding any Rent paid to Landlord while the Premises is vacant).

  • Additional Rental has the meaning set forth in Section 4.03.

  • Renewal Rent for the Aircraft means the rent payable therefor in respect of a Renewal Lease Term determined pursuant to Section 17.2.2 of the Lease.

  • Base Rent Period Annual Rate Per Square Foot Monthly Base Rent

  • 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.

  • Net Rent means all rental Landlord actually receives from any reletting of all or any part of the Premises, less any indebtedness from Tenant to Landlord other than Rent (which indebtedness is paid first to Landlord) and less the Re-entry Costs (which costs are paid second to Landlord).

  • Sublease Payment means any payment required to be made by the District pursuant to Section 7 of the Sublease.

  • Monthly Rent means the monthly installment of Minimum Annual Rent plus the monthly installment of estimated Annual Operating Expenses payable by Tenant under this Lease.

  • Additional Rents means amounts payable under any Lease for (i) the payment of additional rent based upon a percentage of the Tenant’s business during a specified annual or other period (sometimes referred to as “percentage rent”), (ii) so-called common area maintenance or “CAM” charges, and (iii) so called “escalation rent” or additional rent based upon such tenant’s allocable share of insurance, real estate taxes or operating expenses or labor costs or cost of living or xxxxxx’x wages or otherwise.

  • Fixed Rent shall have the meaning set forth in Section 1.1 hereof.

  • Basic Rent means Basic Rent as defined in Paragraph 6.

  • Initial Rent means [ ] (£[ ]) STERLING yearly (exclusive of any VAT);

  • Advance Rent means moneys paid to the landlord to be applied to future rent payment periods, but does not include rent paid in advance for a current rent payment period.

  • Expansion Space means any space in the Building which, at any time during the Lease Term, is occupied by a Person other than Landlord under a written lease with Landlord, and the term “Tenant’s Expansion Space” means Expansion Space which Tenant has elected to lease as provided in this paragraph. Landlord agrees to notify Tenant promptly after Landlord learns that any Expansion Space is or will become available. Subject to the prior rights of other tenants to whom Landlord has granted substantially similar rights, Tenant has the option to lease any Expansion Space which Landlord notifies Tenant is or will become available. If Tenant gives Landlord notice of its exercise of this option within thirty (30) days after notification from Landlord of the availability of the Expansion Space and if no Event of Default exists when Tenant’s notice is given, this Lease will be deemed to be amended to include Tenant’s Expansion Space as part of the Premises for the remainder of the Lease Term upon all of the same terms contained in this Lease except that (i) the Rentable Area of the Premises will be amended to include Tenant’s Expansion Space; (ii) Tenant’s Share will be increased to include the rentable area of Tenant’s Expansion Space; (iii) the Term Commencement Date with respect to Tenant’s Expansion Space will be the earlier of sixty (60) days after the date on which Tenant’s Expansion Space becomes vacant and ready for occupancy (provided that date is at least sixty (60) days after Tenant exercises its option to lease the Expansion Space), or the date on which the Expansion Space is first occupied by Tenant; (iv) if Tenant’s Expansion Space contains a rentable area of 10,000 square feet or more, and if there are less than three (3) Lease Years remaining in the Lease Term, the Lease Term will be extended to include three (3) full years from the Term Commencement Date with respect to Tenant’s Expansion Space; and (v) subject to adjustment during each Fixed Rental Period as provided in Exhibit E, Basic Rent for each year of the remaining Lease Term (as it may be extended) will be the greater of (a) the Basic Rent last paid by the Person most recently occupying Tenant’s Expansion Space or (b) Market Rent determined as provided in the Rent Rider attached as Exhibit E. If Tenant exercises this option, Tenant’s Expansion Space will be leased to Tenant in its “as is” condition and Tenant will, at its expense and in compliance with the provisions of Section 7.06, design and construct all Improvements desired by Tenant for its use and occupancy. Landlord and Tenant agree to execute such amendments to this Lease and other instruments as either of them considers necessary or desirable to reflect Tenant’s exercise of this option.

  • 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 the provision of the Goods and/or Services (or any of them);

  • School premises means either of the following:

  • Monthly Base Rent The monthly rent specified in Section 1.01(8).

  • Percentage Rent As defined in Subsection 3.1(b).

  • Rent Payment means the amount payable by Lessee for the Assets as specified in the applicable Schedule.

  • Tenant’s Share means the percentage set forth in Section 6 of the Summary.

  • Lease Payment means any form of payment, including a land lease, by a public entity to the private entity for the use of a qualifying project.

  • Landlord’s Statement means an instrument or instruments containing a comparison of any increase or decrease in the Rent for the preceding Comparison Year pursuant to the provisions of this Article 28.

  • Base Rental means the amount of rent due to Landlord per square foot for the first year of the Term. Base Rental for the first year of Term shall be $24 per square foot for the building and $7.50 per square foot for the drive thru at the Premises. Year Per Sq Ft First Floor Per Sq Ft Drive Thru Total Per Annum Total Per Month 1 $ 24 $ 7.50 $ 101,286 $ 8,440.50

  • Lease Rentals means, for any period, the aggregate amount of fixed rental or operating lease expense payable by the Company and its Restricted Subsidiaries with respect to leases of real and personal property (excluding Capital Lease Obligations) determined in accordance with GAAP.