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.
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 Bank’s Representative 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
After the determination of the Market Rate and escalations, the parties shall make any necessary adjustments to such payments made by Tenant.
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.
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.
After the determination of the Market Rate, the parties shall make any necessary adjustments to such payments made by Tenant.
More Definitions of Market Rate
Market Rate means the rate per square foot of rentable area then being quoted for comparable office buildings with the characteristics noted in paragraph 1(B) above. If the parties do not agree upon the Market Rate within thirty (30) days after Tenant exercises its option to renew, each party shall choose a "Qualified Appraiser" who shall make such determination on its behalf and submit the same to the other party (together with the information forming the basis for such determination) within seventy-five (75) days after Tenant exercises its option to renew (with each party paying the fee for its own appraiser). "Qualified Appraiser" shall mean an appraiser who is independent, licensed and a member of the American Institute of Real Estate Appraisers (the "AIREA"). Unless the two Qualified Appraisers agree to the Market Rate within fifteen (15) days following delivery of the last of the two appraisals, the two Qualified Appraisers shall choose a third Qualified Appraiser and notify Landlord and Tenant of such choice. Each party shall share equally the cost of the third Qualified Appraiser. If the two Qualified Appraisers cannot or do not agree on the choice of a third Qualified Appraiser within ten (10) days following expiration of the immediately preceding fifteen (15) day period, the third Qualified Appraiser shall be selected by the most senior officer of the Kansas City Chapter or branch of the AIREA or its successor, or if there shall be no successor, a professional organization having a function, standards and qualifications similar thereto. Within thirty (30) days after his or her appointment, the third Qualified Appraiser shall determine the Market Rate of the Leased Premises, in the condition as specified in paragraph 1(B) and taking into account the factors specified in paragraph 1(B), by selecting as such Market Rate either the Market Rate proposed by Tenant's Qualified Appraiser or the Market Rate proposed by Landlord's Qualified Appraiser, and submitting such determination to each party in writing.
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 buildings in the vicinity of the Building.