Market Rate definition

Market Rate means the rate as prevailing in the market and recommended by the Architect and as approved by the Employer on the basis of cost of materials, labour, plant etc inclusive of any tax, duty, octroi etc. at the time of execution of work.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Market Rate means the rate as decided by the Engineer / Employer on the basis of cost of materials at site inclusive of any tax, duty, octroi etc. at the time of execution of work.

Market Rate means the rate as decided by the Employer on the recommendations of their engineer based on the cost of materials and labour at the site where the work is to be executed plus the percentage mentioned elsewhere to cover, all overheads and profits.

Examples of Market Rate in a sentence

If both parties submit Extension Proposals, then Landlord and Tenant shall meet within 7 days after delivery of the last Extension Proposal and make a good faith attempt to mutually appoint a single Arbitrator (and defined below) to determine the Market Rate and escalations.
Landlord and Tenant shall then execute an amendment recognizing the Market Rate and escalations for the Extension Term.
If the Market Rate and escalations are not determined by the first day of the Extension Term, then Tenant shall pay Landlord Base Rent in an amount equal to the Base Rent in effect immediately prior to the Extension Term and increased by the Rent Adjustment Percentage until such determination is made.
After the determination of the Market Rate and escalations, the parties shall make any necessary adjustments to such payments made by Tenant.

More Definitions of Market Rate

Market Rate means 135% of the load-weighted average of the hourly LMPs at the corresponding load zone, as determined for any delivery period.

Market Rate means the rate as decided by the Architect/ Engineer / Employer, on the basis of cost of materials inclusive of any taxes, duty, octroi or such statutes in force at the time of work & cost of labour at site where the work is to be executed plus the percentage to cover all the overheads & profit or as per CPWD schedule.

Market Rate means the rate as decided by the Engineer on the basis of the cost of materials and labour to the Contractor at the site where the Works are to be executed plus the percentage mentioned in Schedule to cover all overheads and profit.

Market Rate means prevailing Per Km rate for the Urban buses with similar quality and specifications anywhere in India.

Market Rate when used in this Agreement, unless the context otherwise requires, shall mean, at any given time, the rate conclusively determined (in the absence of manifest error) by a Party to be the market rate available to that Party in the Market at such time for the purchase of a specified Financial Instrument, with a second specified Financial Instrument for delivery on a specified date;

Market Rate means the then prevailing market rate for a comparable term commencing on the first day of the Renewal Term for tenants of comparable size and creditworthiness for comparable space in the Building and other first class office/R&D buildings of comparable age with similar projects in the vicinity of the Building.

Market Rate is a floating rate equal to the Prime Rate as quoted in The Wall Street Journal and as adjusted from time to time but not to exceed 10% per annum.