RENTAL PAYABLE Sample Clauses
The "RENTAL PAYABLE" clause defines the tenant's obligation to pay rent to the landlord under a lease agreement. It typically specifies the amount of rent due, the frequency and method of payment, and any adjustments or additional charges that may apply, such as late fees or service charges. By clearly outlining when and how rent must be paid, this clause ensures both parties understand their financial responsibilities and helps prevent disputes over payment terms.
RENTAL PAYABLE. 4.1 The monthly rental is that recorded in clause 1.3 of the Schedule and shall be paid in advance on the first day of each and every month as stipulated in clause 1.4 of the Schedule without deduction or demand, in terms of clause 4.5 below.
4.2 After the expiry of the minimum period stipulated in clause 1.2 of the Schedule, the LANDLORD shall be entitled to increase the monthly rental payable by the TENANT by giving the TENANT one
(1) calendar month’s written notice of such increase. Such notice shall be given so as to be delivered to the TENANT at the PREMISES before 16h00 of the last business day of the month but one prior to the month in which the increases or the increase is to be effective.
4.3 If, at any time during the currency of this lease, the sectional title levy/rates are increased, the LANDLORD shall be entitled to recover from the TENANT such increases with effect from the date upon which same became effective.
4.4 Payments of rentals received after the 1st day of the month in respect of which the rental is due, shall be subject to a surcharge of R 100,00 (ONE HUNDRED RANDS) and thereafter 32% (THIRTY TWO PERCENT) interest on arrears to cover collection fees and/or additional administration costs. The TENANT shall on demand pay such surcharge to the LANDLORD or the Estate Agent, acting on behalf of the LANDLORD.
4.5 The TENANT shall make payment by means of electronic funds transfer to the LANDLORD’s bank account which shall be furnished on the date of signature of this lease agreement, however, where the TENANT makes payment by cheque in respect of any rental and the TENANT’s cheque is for any reason thereafter not met on presentation, then entirely without prejudice to the LANDLORD’s rights, the TENANT hereby authorises the LANDLORD to deduct the payment forthwith from any deposits held in terms of clause 1.5 above.
4.6 All charges for the use and consumption of electricity and water shall be borne by the TENANT.
4.7 No liability shall rest upon the LANDLORD for any interruption or failure of the electrical and/or water services to the PREMISES irrespective of the cause thereof, or for any consequential damage or inconvenience the TENANT may suffer by reason of such failure or interruption.
RENTAL PAYABLE. 9.1. It is recorded that no rental will be payable for the first six (06) months as from date of occupation or signature hereof until the date upon which the refurbishments and or development of the Leased Premises has been completed in terms of the Agreement after the Commencement Date of this Lease, whichever may occur first.
9.2. The obligation for rental shall commence on the first day of the month following the exempted rental period as indicated in clause 9.1 above and after completion of the aforesaid, maintenance, development and refurbishments, or on the first date following the month in which the 06 (six) month period referred to above expires.
9.3. The rental payable for the initial 06 (six) month period, shall be amount to
9.4. Thereafter, from the 13th (thirteenth) Month to the 24th (twenty fourth (month) the rental shall remain at the amount to R25 000.00 (Twenty-Five Thousand Rand) per month whereafter the rental shall escalate annually at the rate of 10% with effect from the 25th (twenty fifth (month).
9.5. The rent payable shall be paid by the Lessee monthly and by no later than the 7th day of the following calendar month;
9.6. All amounts payable by the Lessee in terms of this lease shall be paid free of deduction to any bank account to which the Lessor may in writing direct or in such other manner the Lessor may in writing direct.
RENTAL PAYABLE