Rental Formula Sample Clauses
Rental Formula. The rental formula is as follows: [[[((RB x CI) - (AL + IP)) GDF] - TA] RTL] + UC = FCR Or calculated FCR is: RB x CI Subtotal 1 Subtotal 1 -(Subtotal 1 x AL) + (Subtotal 1 x IP) Subtotal 2 Subtotal 2 x GDF Subtotal 3 Subtotal 3 - TA Subtotal 4 Subtotal 4 x RTL Subtotal 5 FCR • GDF is the geographical differential factor for a particular location. • CI is the facility index:
Rental Formula. 11.1 As a general rule, in a lease agreement, the rental formula must not have an “either/or, whichever is higher” formula or have a GTO Rent component when GTO Rent is more than a specified amount. The rental formula must be based on a single rental computation throughout the lease term.
11.2 On an exceptional basis, if both parties agree to an alternative rental formula that is not based on a single rental computation, such alternative rental formula may be included in the lease agreement.
11.3 Landlord must submit a declaration of permitted deviation on the agreed alternative rental formula to FTIC within 14 days (or such other period as may be prescribed by the Act) after the lease agreement has been signed by both parties. In the event landlord fails to submit the declaration of permitted deviation to FTIC in accordance with the requirements of the Act, FTIC may, after making its own assessment, publish any details of non-compliance with the Act or this Code of Conduct, in accordance with the Act. FTIC may charge filing fees for the submission of the declaration of permitted deviation in such amounts as may be specified by FTIC on its website from time to time, and landlord and tenant must share the filing fees on 50:50 basis. [ ] Landlord’s Termination Right in the event of Redevelopment Works
(i) In the event the Landlord intends to carry out substantial redevelopment, asset enhancement or reconfiguration works to the Building or part of the Building where the Premises are located for any reason whatsoever (including changing the tenant mix in the Building) (“redevelopment works”) and requires vacant possession of the Premises in order to carry out such redevelopment works, the Landlord shall be entitled to pre-terminate this Lease by giving to the Tenant six (6) months’ prior notice in writing (“Landlord’s Termination Notice”) subject to Clause [•](iii) below. For the avoidance of doubt, Landlord shall not be entitled to pre-terminate this Lease purely for the purposes of changing the tenant mix in the Building without carrying out any redevelopment works or if the Landlord is able to carry out such redevelopment works without requiring vacant possession of the Premises.
(ii) In the event the Landlord has obtained the grant of written permission from Urban Redevelopment Authority for any asset enhancement initiative works (“AEI Works”), the Landlord must inform the Tenant of such AEI Works prior to [signing of this Lease / the Tenant’s acceptance o...