Average Passing Rent definition
Average Passing Rent means a rent calculated by multiplying the lettable floor area of the Relevant Premises and the average per lettable square footage Rent payable by the Tenant for the Premises at the start of the term of the relevant Supplemental Lease or where a rent free period is subsisting at that time, the Rent payable for the Premises immediately after the expiry of such rent free period (and for this purpose the lettable floor area of the Relevant Premises and the average per lettable square footage Rent for the Premises shall be determined by the Landlord (it being accepted for this purpose that the lettable area of the floors of Premises as at the date of this Lease are as shown in Schedule 7) whose determination shall be conclusive (save in case of manifest error);