Common use of Procedure for determination of market rent Clause in Contracts

Procedure for determination of market rent. 6.5.1 The Landlord and the Tenant shall endeavour to agree the market rent at any time not being earlier than 12 months before the relevant review date but if they shall not have agreed the market rent three months before the relevant review date the amount of the market rent shall be determined by reference to the arbitration of an arbitrator nominated by the President for the time being of the Royal Institution of Chartered Surveyors on the application either of the Landlord or of the Tenant and the costs of the arbitration shall be in the award of the arbitrator whose decision shall be final and binding on the parties hereto.

Procedure for determination of market rent. 6.5.1 5.1 The Landlord and the Tenant shall endeavour to agree the market rent at any time not being earlier than 12 months before the relevant review date but if they shall not have agreed the market rent three months before the relevant review date the amount of the market rent shall be determined by reference to a survxxxx ("xxx Xxxxxxxx") xxxing at the arbitration of Landlord's discretion as either an expert or as an arbitrator and who shall be appointed by agreement between the parties or failing agreement nominated by the President for the time being of the Royal Institution of Chartered Surveyors on Nottinghamshire Law Society at the application either request of the Landlord or of the Tenant and the costs of the arbitration shall be in the award of the arbitrator whose decision shall be final and binding on the parties hereto.Tenant

Procedure for determination of market rent. 6.5.1 5.1 The Landlord and the Tenant shall endeavour to agree the market rent rent, and may do so at any time (not being earlier than 12 twelve months before the relevant review date date), but if they shall have not have agreed the market rent three months before the relevant review date the amount of the market rent shall be determined by reference to the arbitration of an arbitrator nominated by ("the President for the time being of the Royal Institution of Chartered Surveyors on the application either of the Landlord or of the Tenant and the costs of the arbitration shall be in the award of the arbitrator whose decision shall be final and binding on the parties hereto.Surveyor")

Procedure for determination of market rent. 6.5.1 5.1 The Landlord and the Tenant shall are to endeavour to agree the market rent at any time not being earlier than 12 6 months before the relevant review date date, but if they shall have not have agreed the market rent three months before the relevant review date the amount of the market rent shall is to be determined by reference to the arbitration of an arbitrator nominated by the President for the time being of the Royal Institution of Chartered Surveyors on the application either of the Landlord or of the Tenant and the costs of the arbitration shall be in the award of the arbitrator whose decision shall be final and binding on the parties hereto.arbitrator