Definition of the Insurance Rent


the Insurance Rent means the sums which the Landlord shall from time to time pay by way of premium: 2.5.1 for insuring the Premises in accordance with its obligations contained in this lease 2.5.2 and for insuring in such reasonable amount and on such terms as the Landlord shall consider appropriate against all liability of the Landlord to third parties arising out of or in connection with any matter including or relating to the Premises 2.6 'Insured Risks' means fire and such other risks as the Landlord from time to time in its absolute discretion may think fit to insure against 2.7 'Interest' means interest during the period from the date on which the payment is due to the date of payment both before and after any judgment at the Interest Rate then prevailing or should the Base Rate cease to exist such other rate of interest as is most closely comparable with the Interest Rate to be agreed between the parties or in default of agreement to be determined by the Surveyor acting as an expert and not as an arbitrator 2.8 'the 1954 Act' means the Landlord and Tenant Act 1954 2.9 'Pipes' means all pipes sewers drains mains ducts conduits gutters watercourses wires cables channels flues and all other conducting media and includes any fixings louvres cowls and any other ancillary apparatus which are in on or under or which serve the Premises 2.10 'the Plan' means the plan annexed to this lease 2.11 'the Planning Acts' means the Town and Country Planning Act 1990 2.12 'Rent' means the Initial Rent and rent ascertained in accordance with the second schedule and such term does not include the Insurance Rent or the Additional Rent but the term 'rents' includes both the Rent the Insurance Rent and the Additional Rent 2.13 'Surveyor' means any person or firm appointed by the Landlord to perform any of the functions of the Surveyor under this lease (including an employee of the Landlord or a company that is a member of the same group as the Landlord within the meaning of Section 42 of the 1954 Act and including also the person or firm appointed by the Landlord to collect the rents) 2.14 'VAT' means Value Added Tax or any tax of a similar nature that may be substituted for it or levied in addition to it 2.15 'this lease' means this underlease 3 Interpretation 3.1 The expressions 'the Landlord' and 'the Tenant' wherever the context so admits include the person for the time being entitled to the reversion immediately expectant on the determination of the Term and the Tenant's successors in title respectively 3.2 References to the Superior Landlord shall include its successors in title and shall include all superior landlords however remote 3.3 Where the Landlord the Tenant or the Guarantor for the time being are two or more persons obligations expressed or implied to be made by or with such party are deemed to be made by or with such persons jointly and severally 3.4 Words importing one gender include all other genders and words importing the singular include the plural and vice versa

Examples of the Insurance Rent in a sentence

Rent does not include the Insurance Rent, but the term Lease Rents means both the Rent and the Insurance Rent.
GRANT AND TERM The Landlord leases the Premises to the Tenant for a term of ten years from and including the Term Commencement Date expiring on and including 12 June 2010, the Tenant paying the following sums, which are reserved as rent: the Rent, the Service Charge Estimate, the Insurance Rent, the Service Charge Balance, the Second Service Charge Rent (as defined in the Second Schedule) and any VAT payable on those sums and any interest due under this Underlease.
RENTS 4 TENANT'S OBLIGATION TO PAY The Tenant covenants to pay to the Landlord at all times during the Term:- 41 yearly, and proportionately for any fraction of a year, the Initial Rent and from and including each Rent Review Date, such yearly rent as shall become payable under clause 5; 42 the Insurance Rent; 43 the Additional Rent; and 44 any Value Added Tax which may be chargeable in respect of the Principal Rent, the Insurance Rent and the Additional Rent.
The Insurance Rent and the Additional Rent and any Value Added Tax chargeable on either of them shall be paid on demand, the first payment of the Insurance Rent to be made on the date hereof.
RENTS 4.1 Tenants obligation to pay The Tenant covenants to pay to the Landlord at all times during the Term:- 4.1.1 from the Rent Commencement Date yearly, and proportionately for any fraction of a year, the Initial Rent and from and including each Rent Review Date, such yearly rent as shall become payable under clause 5; 4.1.2 the Insurance Rent; 4.1.3 the Additional Rent; and 4.1.4 any Value Added Tax which may be chargeable in respect of the Principal Rent, the Insurance Rent and the Additional Rent.