Examples of Turnover Rent in a sentence
If any Turnover has been understated, the Landlord will be entitled to issue a further demand for any additional Turnover Rent following the audit and the Tenant must pay the additional Turnover Rent to the Landlord within [10 Business Days] plus interest at the Interest Rate calculated from the date that the Turnover Rent would have been paid had the Turnover Rent not been understated.
To preserve the operation of this Part of the Schedule and to enable the Turnover Rent to be accurately assessed, the Tenant must ensure that: any person other than the Tenant who contributes to Turnover is subject to the same obligations with respect to Records as are imposed on the Tenant in this Part of the Schedule; the Landlord has the same rights in respect of any such person(s) as it does in this Part of the Schedule in respect of the Tenant.
From 7 July 2010 to 6 July 2013 (the “Second Renewed Period”), provided the 2nd Option (as defined below) is exercised by the Tenant, at open market rent provided that the basic rent shall not be less than the basic rent paid for the last calendar month of the First Renewed Period or more than 120% of the basic rent paid for the last calendar month of the First Renewed Period, together with the Turnover Rent.
The Tenant must pay an On-Account Payment for each On-Account Period on account of the Turnover Rent.
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