ADDED TAX PAYABLE BY THE
TENANT UNDER THE PROVISIONS OF THIS LEASE IS RECOVERABLE BY THE TENANT IN FULL
AND WOULD BE RECOVERABLE BY ANY/EVERY PROSPECTIVE WILLING TENANT
THAT NO REDUCTION IS OR OUGHT TO
BE MADE TO TAKE ACCOUNT OF ANY RENT FREE PERIOD OR PERIOD OF RENTAL CONCESSION
OR DISCOUNT WHICH ON A NEW LETTING WITH VACANT POSSESSION MIGHT BE GRANTED TO
THE INCOMING TENANT IT BEING ASSUMED THAT ANY SUCH PERIOD HAS BEEN GIVEN TO THE
WILLING TENANT AND HAS EXPIRED AND/OR ANY SUCH DISCOUNT HAS BEEN GIVEN TO THE
WILLING TENANT
THERE being disregarded:
ANY EFFECT ON RENT OF THE FACT
THAT THE TENANT OR ANY UNDERTENANT HAS BEEN IN OCCUPATION OF THE DEMISED
PREMISES
ANY GOODWILL ATTACHED TO THE
DEMISED PREMISES BY REASON OF THE CARRYING ON OF THE BUSINESS OF THE TENANT OR
ANY UNDERTENANT
7
ANY INCREASE IN THE RENTAL VALUE
OF THE DEMISED PREMISES ATTRIBUTABLE TO THE EXISTENCE AT THE RENT REVIEW DATE OF
ANY IMPROVEMENT (SHOWN TO BE SUCH BY THE TENANT) TO THE DEMISED PREMISES AND
WHICH IS:
.1
COMPLETED NOT MORE THAN 21 YEARS BEFORE
THE RENT REVIEW DATE REGARDLESS OF WHETHER CARRIED OUT PURSUANT TO THE TERMS OF
THIS LEASE OR DURING THE TERM OF ANY PREVIOUS LEASE AND
.2
CARRIED OUT WITH THE CONSENT (WHERE
REQUIRED) OF THE LANDLORD BY THE TENANT OR ANY UNDERTENANT
THE EFFECT ON RENT OF THE WORKS
AUTHORISED BY A LICENCE TO UNDERLET AND TO ALTER DATED 9 JUNE 1995 AND MADE
BETWEEN (1) MESONGAGE LIMITED (2) BICC DEVELOPMENTS LIMITED (3) BICC PLC AND (4)
TERTIO LIMITED SHALL BE DISREGARDED AT THE RENT REVIEW DATE
3.2.2
ANY INABILITY OF THE TENANT
OR ANY/EVERY PROSPECTIVE WILLING TENANT TO RECOVER VALUE ADDED TAX
3.2.3
FROM AND AFTER THE RENT
REVIEW DATE THE YEARLY RENT PAYABLE HEREUNDER SHALL BE WHICHEVER IS THE HIGHER
OF:
THE YEARLY RENT RESERVED HEREUNDER
IMMEDIATELY BEFORE THE RENT REVIEW DATE AND
THE OPEN MARKET RENT
3.2.4
IF THE LANDLORD AND THE
TENANT HAVE NOT AGREED THE OPEN MARKET RENT BY A DATE ONE MONTH PRIOR TO THE
RENT REVIEW DATE THE OPEN MARKET RENT MAY AT THE OPTION OF EITHER THE LANDLORD
OR THE TENANT BE DETERMINED BY A CHARTERED SURVEYOR OF NOT LESS THAN TEN YEARS'
STANDING BEING EXPERIENCED IN THE VALUATION AND LEASING OF PROPERTY SIMILAR TO
THE DEMISED PREMISES IN THE LOCATION OF THE DEMISED PREMISES ("THE APPOINTED
SURVEYOR") TO BE AGREED UPON IN WRITING BY THE LANDLORD AND THE TENANT OR IN
DEFAULT OF SUCH AGREEMENT BY THE RENT REVIEW DATE TO BE NOMINATED BY THE
PRESIDENT FOR THE TIME BEING OF THE ROYAL INSTITUTION OF CHARTERED SURVEYORS (OR
HIS DULY APPOINTED DEPUTY OR ANY PERSON AUTHORISED BY THE PRESIDENT TO MAKE
APPOINTMENTS ON HIS BEHALF) UPON THE APPLICATION OF EITHER THE LANDLORD OR THE
TENANT
3.2.5
THE APPOINTED SURVEYOR
SHALL AT THE SOLE AND ABSOLUTE DISCRETION OF THE LANDLORD ACT EITHER AS AN
INDEPENDENT EXPERT OR AS