Maximum Rent Sample Clauses
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Maximum Rent. Notwithstanding anything else to the contrary in this Agreement, Units with respect to which the annual rent collected (exclusive of any reimbursements or other charges) is greater than 30% of 165% of AMI will not be included in the calculation of the number of Affordable Units pursuant to Section 3.2(a), except that the Owner may include Units with two-year leases charging a rent in compliance with this Agreement and any greater amount permitted by the definition of “Tier 1 Preferential Rent” in Section 1.1 as Future Affordable Units. For the avoidance of doubt, this maximum rent limit will be tested only upon initial occupancy and lease renewal (or as of the date of any required renewal notice, if earlier) with respect to an Affordable Unit and will not be affected by any decrease in AMI during the term of a lease of any Affordable Unit; provided that the Owner shall not include a Unit as an Affordable Unit if during the term of a lease the rent collected is above the 30% of 165% of AMI limit that was in effect as of the date of including the Unit as an Affordable Unit (except that the Owner may include Units with two-year leases charging a rent in compliance with this Agreement and any greater amount permitted by the definition of “Tier 1 Preferential Rent” in Section 1.1 as Affordable Units).
Maximum Rent. The Rental Subsidy for each Contract Unit, as may be adjusted from time to time by DCHA in accordance with Section 6, may at no time exceed reasonable rent, as determined by DCHA, charged for comparable units in the private unassisted market.
Maximum Rent. 6.4.1 The rent payable by a Sub-Tenant under a Sub-Lease must not exceed the maximum rent set out in Clause 6.4.2.
6.4.2 Subject to Clause 6.4.3, the maximum rent payable by a Sub- Tenant is the maximum rent calculated in accordance with the Maximum Rent Formula set out in Part 2 of Annexure C.
6.4.3 The Agency acknowledges that the Director may, at any time during the Term but not more than once in every Financial Year, amend or vary the Maximum Rent Formula set out in Part 2 of Annexure C by giving notice to the Agency.
6.4.4 The Agency acknowledges that:
6.4.4.1 any time during the term of a Sub-Lease the maximum rent calculated using the Maximum Rent Formula for the purpose of a particular Sub-Tenant may alter as a result of a change in the Sub-Tenant's financial circumstances; and
6.4.4.2 the Agency's obligations under Clause 6.4.1 require the Agency to ensure that at any time during the term of the Sub-Lease, the rent payable by the Sub-Tenant does not exceed the maximum rent, as it may alter from time to time as described in Clause 6.4.4.1.
Maximum Rent. The Maximum Rent for the Transactions under each of the Property Lease Agreements for the Relevant Periods are set out below: Lease Term / Expected Lease Term Financial Year Ending 31 December First 1 April 2020 to 5,895,000 8,040,000 8,280,000 2,085,000 Property 31 March 2023 Lease Agreement Second 1 April 2020 to 120,150,000 163,800,000 168,712,500 42,487,500 Property 31 March 2023 Lease Agreement Third 25 December - 34,000,000 44,000,000 48,000,000 Property 2020 to Lease 24 December Agreement 2023 Fourth 1 May 2020 to 4,800,000 7,333,300 7,533,300 2,533,300 Property 30 April 2023 Lease Agreement Fifth 1 May 2020 to 6,113,300 9,356,700 9,636,700 3,243,300 Property 30 April 2023 Lease Agreement The Maximum Rent above for each of the Property Lease Agreements are determined with reference to the aggregate rents to be received under each of the Property Lease Agreements for each Relevant Period. Accordingly, the Aggregate Maximum Rent under the Property Lease Agreements for each Relevant Period is RMB136,958,300, RMB222,530,000, RMB238,162,500 and RMB98,349,100, respectively. The Directors (including the independent non-executive Directors) are of the view that the Maximum Rents for each of the Property Lease Agreements for each Relevant Period is on normal commercial terms and fair and reasonable.
Maximum Rent the rent payable for the Employee Unit must not exceed the Maximum Rent for the Employee Unit;