AN ARBITRATOR AND HIS AWARD OR DETERMINATION OF THE
OPEN MARKET RENT BY THE APPOINTED SURVEYOR SHALL BE FINAL AND BINDING ON THE
LANDLORD AND THE TENANT (AND WITHOUT RECOURSE TO THE PROVISIONS FOR ARBITRATION
CONTAINED IN THIS LEASE) AND THE FEES OF THE APPOINTED SURVEYOR SHALL BE BORNE
AS HE DIRECTS OR FAILING DIRECTION BY THE LANDLORD AND THE TENANT IN EQUAL
SHARES AND PAID WITHOUT UNDUE DELAY AND IF ONE PARTY PAYS THEM ALL THAT PARTY
SHALL BE ENTITLED TO RECOVER SUCH PROPORTION OF THEM (IF ANY) AS THE OTHER PARTY
IS TO PAY AS HEREIN PROVIDED
3.2.6
IF THE APPOINTED SURVEYOR
IS TO ACT AS AN EXPERT:
HE SHALL INVITE THE LANDLORD AND
THE TENANT TO SUBMIT TO HIM WITHIN SUCH TIME LIMITS (NOT BEING LESS THAN FIFTEEN
WORKING DAYS) AS HE SHALL CONSIDER APPROPRIATE A VALUATION ACCOMPANIED IF
DESIRED BY A STATEMENT OF REASONS AND SUCH REPRESENTATIONS AND CROSS
REPRESENTATIONS AS TO THE AMOUNT OF THE OPEN MARKET RENT WITH SUCH SUPPORTING
EVIDENCE AS THEY MAY RESPECTIVELY WISH
8
HE SHALL IF REQUIRED BY THE
LANDLORD OR TENANT GIVE WRITTEN REASONS FOR HIS DETERMINATION AND
IF THE APPOINTED SURVEYOR DOES NOT
GIVE WRITTEN NOTICE OF HIS DETERMINATION WITHIN TWO MONTHS OF HIS APPOINTMENT OR
IF HE SHALL DIE OR BECOME UNWILLING TO ACT OR INCAPABLE OF ACTING OR IF FOR ANY
OTHER REASON HE IS UNABLE TO ACT THEN EITHER THE LANDLORD OR THE TENANT MAY
REQUEST THE SAID PRESIDENT TO DISCHARGE THE APPOINTED SURVEYOR AND APPOINT
ANOTHER SURVEYOR IN HIS PLACE WHICH PROCEDURE MAY BE REPEATED AS MANY TIMES AS
NECESSARY
3.2.7
IF THE APPOINTED SURVEYOR
IS TO ACT AS AN ARBITRATOR THE ARBITRATION SHALL BE CONDUCTED IN ACCORDANCE WITH
THE ARBITRATION ACT 1996 EXCEPT THAT IF ANY APPOINTED SURVEYOR SHALL DIE OR
DECLINE TO ACT OR BECOME INCAPABLE OF ACTING THE PRESIDENT MAY ON THE
APPLICATION OF EITHER PARTY DISCHARGE THE APPOINTED SURVEYOR AND APPOINT ANOTHER
IN HIS PLACE
3.2.8
IF ON THE RENT REVIEW DATE
THE OPEN MARKET RENT SHALL NOT HAVE BEEN AGREED OR DETERMINED AS SET OUT ABOVE
THE YEARLY RENT RESERVED UNDER THIS LEASE IMMEDIATELY BEFORE THE RENT REVIEW
DATE SHALL CONTINUE TO BE PAYABLE UNTIL AGREEMENT IS REACHED OR THE
DETERMINATION OF THE OPEN MARKET RENT BY THE APPOINTED SURVEYOR IS MADE AND THE
DEMAND PAYMENT AND/OR ACCEPTANCE THEREOF SHALL NOT BE OR BE CONSTRUED TO BE A
WAIVER BY THE LANDLORD OF ANY OF ITS RIGHTS AND BENEFITS UNDER THIS CLAUSE 3.2
BUT SO THAT IMMEDIATELY ON DEMAND AFTER SUCH AGREEMENT OR DETERMINATION THE
DIFFERENCE (IF ANY) OVER THE AMOUNT ACTUALLY SO PAID AND THE AMOUNT WHICH WOULD
HAVE BEEN PAYABLE HAD THE AGREEMENT OR DETERMINATION BEEN MADE BEFORE THE RENT
REVIEW DATE SHALL BE PAID BY THE TENANT TO THE LANDLORD AS RENT RECOVERABLE IN
ARREAR TOGETHER WITH LOWER RATE INTEREST ON SUCH DIFFERENCE FOR EACH INSTALMENT
OF RENT DUE ON AND AFTER THE RENT REVIEW DATE (SUCH INTEREST BEING PAYABLE FROM
THE