IFRSD definition
Examples of IFRSD in a sentence
Such amount shall be recoverable by the Lessor from the Lessee from the IFRSD and if such IFRSD is not adequate, the balance shall be payable by the Lessee to the Lessor within 5 working days of the demand having been made by the Lessor on the Lessee.
The Lessor shall be entitled to adjust the IFRSD against the rent payable for the notice period and the balance (unadjusted) amount of IFRSD shall be refunded to the lessee simultaneously against the handing over of possession of demised premises on the expiry or earlier termination of the lease, as the case may be.
The same procedure shall be followed for deduction of IFRSD even in case of expiry/early termination of this Agreement.
Payable on signing of Lease Deed: equivalent to 4 (four) months’ Monthly Rent amounting to Rs. 2,26,10,240/- (Rupees Two Crores Twenty-Six Lakhs Ten Thousand Two Hundred and Forty only) which shall be paid in the manner as stated below: • Rental Security deposit as against 6 (six) months IFRSD paid under Earlier Lease amounting to Rs. 82,66,869/ - shall be transferred to this Lease Deed.
The Lessee agrees to pay and maintain an amount equivalent of four (4) months rent for the demised premises as described in section 4 amounting to Rs. 22,12,920.00 (Rupees Twenty Two Lakhs twelve thousand nine hundred and twenty rupees only) on account of interest free refundable security deposit (hereinafter "IFRSD") payable on or before 1st February 2004.
IFRSD shall always be equivalent to 14.69 months’ corresponding Monthly Rent of Demised Premises as prevailing at any point of time during Lease Term.
IFRSD shall always be equivalent to -------months’ corresponding Monthly Rent of Demised Premises as prevailing at any point of time during Lease Term.
The LESSEE on paying the IFRSD hereby reserved and duly observing and performing the terms, conditions, covenants and stipulations on its part under this Lease Agreement, shall peacefully hold and enjoy the Demised Premises throughout the term of the LEASE without any interruption, eviction, claim or demand by the LESSOR.
Against the said IFRSD amount, the Lessor acknowledges and confirms that a sum of Rs.2,15,54,205.50/- (Rupees Two Crores Fifteen Lakhs Fifty Four Thousand Two Hundred and Five and Fifty Paisa only)has been deposited by the Lessee with the Lessor to secure the obligations under the Lease Deed dated 27/01/2020.
If the Lessee does not object to the proposed deduction within (seven) days of receiving the notice, the Lessor shall deduct the amount from the IFRSD.