REDDENDUM. YIELDING AND PAYING therefor and thereout during each of the first five years of the said term the yearly rent of (euro)380,871 and thereafter during each of the successive periods of five years of which the first shall begin on the 1st day of December 2008 a rent equal to (a) the rent payable hereunder during the preceding period or (b) such revised rent as may from time to time be ascertained in accordance with the provisions in that behalf contained in the First Part of the Fourth Schedule hereto (whichever shall be the greater) AND the rent in respect of each year of the said term is to be paid by direct debit by equal quarterly payments in advance on the 1ST DAY OF JANUARY, 1ST DAY OF APRIL, 1ST DAY OF JULY AND 1ST DAY OF OCTOBER in every year without any deduction set off or counterclaim whatsoever. AND ALSO PAYING BY WAY OF ADDITIONAL RENT the amount or amounts payable by the Tenant pursuant to the Tenant's covenant hereinafter contained in Clause 5.2 in respect of insurances effected form time to time by the Landlord such additional payments to be payable at the times and in the manner specified at the said Clause 5.2 AND ALSO PAYING BY WAY OF ADDITIONAL RENT the amount or amounts payable by the Tenant pursuant to the Tenant's covenant hereinafter contained in Clause 5.5.1 in respect of the provision or the procuring by the Landlord of the services hereinafter contained such additional payments to be payable at the times and in the manner hereinafter specified. AND ALSO PAYING BY WAY OF ADDITIONAL RENT on demand all costs damages expenses losses costs and demands which the Landlord may from time to time incur in connection with or procuring the remedying of any breach by the Tenant of any of the covenants on the part of the Tenant herein contained.
Appears in 1 contract
REDDENDUM. YIELDING AND PAYING therefor and thereout during each of the first five years of the said term the yearly rent of (euro)380,871 and thereafter during each of the successive periods of five years of which the first shall begin on the 1st day of December 2008 a rent equal to (a) the rent payable hereunder during the preceding period or term yearly and proportionately for any fraction of a year the rents set out below:
3.1 From and including the Rent Commencement Date the Initial Rent together with (bif demanded) such revised rent as may Value Added Tax thereon at the rate applicable from time to time be ascertained and the Rent shall in accordance with the provisions in that behalf contained in the First Part of the Fourth Schedule hereto (whichever shall be the greater) AND the rent in respect of each year of the said term is to all cases be paid by direct debit by equal quarterly payments in advance on the 1ST DAY OF JANUARY, 1ST DAY OF APRIL, 1ST DAY OF JULY AND 1ST DAY OF OCTOBER usual quarter days in every year without any deduction set or set-off or counterclaim whatsoever. AND ALSO PAYING BY WAY OF ADDITIONAL RENT whatsoever (save as required by law) the amount or amounts payable by the Tenant pursuant to the Tenant's covenant hereinafter contained in Clause 5.2 in respect of insurances effected form time to time by the Landlord such additional payments to be payable at the times and in the manner specified at the said Clause 5.2 AND ALSO PAYING BY WAY OF ADDITIONAL RENT the amount or amounts payable by the Tenant pursuant to the Tenant's covenant hereinafter contained in Clause 5.5.1 first payment apportioned in respect of the provision period from the Rent Commencement Date to the quarter day next thereafter to be paid on the Rent Commencement Date
3.3 Within fourteen days of written demand and (if so demanded) in advance of the date of renewal sums equal to:
3.3.1 the premiums paid or the procuring to be paid by the Landlord Lessor to the Superior Lessor for insuring the Building so that the Premises are insured in accordance with the Lessor's obligations in this Lease and the whole of any increased premiums required as a result of the services hereinafter contained such additional payments Tenant's use of the Premises or anything brought on to the Premises
3.3.2 the premiums paid or to be paid by the Lessor to the Superior Lessor for any third party liability including public and premises owner's and employer's liability in respect of the Building against which the Superior Lessor may at any time insure
3.3.3 any part of the premiums referred to above which the Superior Lessor is entitled to retain by way of commission
3.3.4 any Insurance Premium Tax (and any tax of a similar nature substituted for it or in addition to it) payable at on any of the times and premiums paid or to be paid by the Superior Lessor Provided that where in the manner hereinafter specified. AND ALSO PAYING BY WAY OF ADDITIONAL RENT case of any of the items referred to in the preceding Clauses the Superior Lessors policy includes the Premises and other premises the references to "the premiums paid or to be paid" are to be 1 regarded as referring to the proportion of the premiums properly attributable to the Premises to be determined by the insurers of the Building or by the Lessor's surveyor
3.4 From the Review Date such rent as shall be determined in accordance with the provisions of clause 7 hereof
3.5 to pay as rent to the Lessor on demand all costs damages expenses losses costs and demands written demand:
3.5.1 the amount of any excesses which may be deducted or deductible by the Landlord may insurers on any claim made by the Lessor under Clause 5.4.2.1
3.5.2 the cost of ascertaining from time to time incur in connection with (but not more frequently than once every two years) the reinstatement value of the Premises or procuring eighty-two point four five per centum (82.45%) of the remedying cost of ascertaining from time to time the reinstatement value of the Building for the purpose of the Lessor's covenants herein PROVIDED THAT if any breach determination by the Lessor's surveyor under this Clause 3.5 is disputed by the Tenant of any and the Lessors surveyor is an employee of the covenants on the part Lessor or an employee of the Lessor's Group then the Tenant herein contained.may refer the matter for expert determination in accordance with the provisions of Clause 6.13
Appears in 1 contract
Sources: Underlease (Ask Jeeves Inc)