Schedule — Annual Rent based on rents received or rents receivable


Published by a ½Û×ÓÊÓƵ Property expert
Precedents

Schedule — Annual Rent based on rents received or rents receivable


Published by a ½Û×ÓÊÓƵ Property expert

Precedents
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Calculation and payment of Annual Rent

  1. [Additional definitions for inclusion in the general definitions clause in the main body of the Lease]

    Annual Rent

    1. •

      the amount determined and payable in accordance with Schedule [number of this Schedule in the Lease];

    [Approved Licence

    1. •

      a licence to occupy an area within the [Property OR Building OR Centre OR in the form of the draft attached at Appendix 1 [(with any modifications that the Landlord [requires OR and the Tenant may from time to time agree OR in writing)];]

    [Approved Underlease

    1. •

      an underlease of [a Lettable Unit OR part of the Property OR Building OR Centre]] in the form of the draft attached at Appendix 2 [(with any modifications that the Landlord requires OR and the Tenant may from time to time agree] in writing)];]

    1. 1

      Definitions

      In this Schedule, the following definitions apply:

      Accountant

      1. •

        the person appointed in accordance with paragraph 8.2;

      Additional Rent

      1. •

        the amount by which [number]% of Gross Revenue in each Quarterly Period exceeds the Base Rent payable in respect of that period;

      Additional Rent Days

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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Rent definition
What does Rent mean?

Consideration payable under a lease, the amount of which must be ascertainable with certainty throughout the term (usual via a rent review if not stated in actual figures). Commercial rents are usually paid in advance by equal instalments on the quarter days or other dates specified as rent payment days.

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