Example sentences of "time being of the essence " in BNC.
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| 1 | Example 4:4 Turnover rent YIELDING AND PAYING THEREFOR by equal quarterly payments in advance on the usual quarter days : ( 1 ) the annual sum of £ ( " the basic rent " ) ; and ( 2 ) such sum as is calculated in accordance with the Schedule hereto ( " the turnover rent " ) SCHEDULE ( 1 ) In this schedule the following expressions have the following meanings : ( a ) " gross turnover " means the aggregate of all sums : ( i ) received by the tenant in return for goods supplied or services rendered in the course of any trade or business carried on by him in the demised property or partly in the demised property and partly elsewhere ; and ( ii ) payable to the tenant by any person in consideration of the use or occupation of the whole or any part of the demised property ( b ) " a rental year " means a period of twelve calendar months beginning on ( c ) " net turnover " means the gross turnover less : ( i ) any sum actually paid by the tenant to HM Commissioners of Customs and Excise by way of VAT or other tax chargeable on the supply of goods or services ; ( ii ) any sum refunded by the tenant to his customers in respect of defective or unsatisfactory goods or services ; ( iii ) per cent of any sums received by the tenant in return for services for which orders are received at the demised property but are performed wholly elsewhere ( d ) " qualified accountant " means a member of the Institute of Chartered Accountants in England and Wales ( 2 ) The turnover rent for a rental year shall be : ( a ) per cent of the net turnover for the year immediately preceding that rental year exceeding £ but less than £ and ( b ) per cent of the net turnover for the year immediately preceding that rental year exceeding £ but less than £ ( 3 ) Within one month after the beginning of each rental year ( time being of the essence ) the tenant shall deliver to the landlord a certificate signed by a qualified accountant of the tenant 's gross turnover and net turnover for the year immediately preceding that rental year . |
| 2 | Example 4:6 Rent geared to subrents receivable YIELDING AND PAYING THEREFOR by equal quarterly payments in advance on 1 January 1 April 1 July and 1 October in each year per cent of the net rents which the tenant is entitled to receive for the whole or any part of the demised property and calculated in accordance with the schedule hereto SCHEDULE ( 1 ) In this schedule the following expressions have the following meanings : ( a ) " full rack rental value " means the best rent at which the demised property ( or as the case may be the part of the demised property in question ) might reasonably be expected to be let in the open market by a willing landlord to a willing tenant ( i ) in the case of property falling within paragraph ( 2 ) below on the terms ( other than as to rent or other pecuniary consideration ) upon which it is actually occupied ( ii ) in the case of property falling within paragraph ( 3 ) below on the terms ( other than as to rent or other pecuniary consideration ) of this lease ( iii ) in the case of property falling within paragraph ( 4 ) below on the terms ( other than as to rent or other pecuniary consideration ) upon which it was last occupied and in any case disregarding the matters set out in paragraphs ( a ) and ( b ) of section 34(1) of the Landlord and Tenant Act 1954 ( as amended ) and on the assumption that the rent so determined will be revised every five years ( b ) " qualified accountant " means a member of the Institute of Chartered Accountants in England and Wales or the Association of Certified Accountants ( 2 ) If the tenant lets or permits to be occupied the whole or any part of the demised property in return for any pecuniary consideration other than the full rack rental value thereof as at the date of such letting or permission or in return for no pecuniary consideration then he shall be deemed for the purposes of this schedule to be entitled to receive the full rack rental value thereof determined as at the date of such letting or permission and redetermined as at every fifth anniversary thereof ( 3 ) If the tenant himself occupies the whole or any part of the demised property then he shall be deemed for the purposes of this schedule to be entitled to receive the full rack rental value thereof determined as at the date on which he went into occupation and redetermined as at every fifth anniversary thereof ( 4 ) If the whole or any part of the demised property remains vacant for three months or more then at the expiry of such period of three months the tenant shall until the same is next occupied be deemed to be entitled to receive the full rack rental value thereof determined as at the date upon which the said period expired and redetermined as at every fifth anniversary thereof ( 5 ) The tenant shall one month before the beginning of each quarter ( time being of the essence ) deliver to the landlord a certificate signed by a qualified accountant showing a true summary of : ( a ) the gross amount of all rents and licence fees which the tenant is entitled ( or deemed to be entitled ) to receive in respect of the demised property and each part thereof for that quarter and ( b ) the amount of any sum included in ( a ) above which the tenant is entitled to recover from any subtenant or occupier of the whole or any part of the demised property either by way of VAT or by way of service charge in respect of services or works performed or to be performed ( 6 ) Subject to paragraph ( 7 ) below the net rents shall be the difference between the two amounts shown in the said certificate ( 7 ) The net rents shall be determined by a single arbitrator to be appointed by the President for the time being of the Royal Institution of Chartered Surveyors if : ( a ) the tenant fails to deliver a certificate in accordance with paragraph ( 5 ) above ( in which case the tenant shall pay interest on the net rents at the rate of … per cent from the quarter day in question until payment ) or ( b ) any dispute or difference arises between the parties in connection with the calculation of the net rents ( in which case the arbitrator shall determine the amount of interest if any to be paid by the tenant ) ( 8 ) The tenant shall permit the landlord or his agent to inspect and take copies of the tenant 's books or account or any other document or record ( and if necessary the tenant shall procure any computer print-out ) which in the opinion of the landlord or such agent is relevant to the calculation of the net rents and shall bear the costs of such inspection if there shall be any material discrepancy between the certificate delivered by the tenant under paragraph 5 above and the results of such inspection . |
| 3 | Example 4:10 Tenant 's power to make time of the essence ( 1 ) if the landlord fails to take any step in the procedure for rent review within a period of time prescribed by this lease ( whether or not that step could also have been taken by the tenant ) the tenant may give the landlord written notice : ( a ) referring to the step which the landlord has failed to take ( b ) requiring the landlord to take that step within such period of not less than 21 days as may be specified in the notice and ( c ) informing the landlord that if he fails to take that step within the period specified in the notice he will be precluded thereafter from taking it and that time is of the essence of the period so specified ( 2 ) if the landlord fails to take the step specified in a notice under paragraph ( 1 ) within the time specified in that notice ( time being of the essence ) he shall thereafter be precluded from taking it |
| 4 | 2.7 If at any time any Works are carried out otherwise than in accordance with the Building Documents and this fact might [ reasonably ] have been expected to be apparent on visual inspection to the Surveyors on the first occasion following the carrying out of the relevant Works on which they actually inspected the same pursuant to clause 2.5 ( " Relevant Inspection " ) then unless within [ 5 ] working days after the date of the Relevant Inspection ( time being of the essence ) the Surveyors have served on the Architect a Defects Notice in respect of such non-compliance the relevant Works shall be treated for all purposes of this agreement as having been carried out in accordance with the Building Documents This provision should be deleted . |
| 5 | 5.3 If at any time there has been any [ material ] noncompliance by the Landlord with any of [ its ] obligations under clause 2 or by the Tenant with any of [ its ] obligations under clause 3 and such default shall continue for or shall not be remedied to the [ reasonable ] satisfaction of the party not in default within [ 15 ] working days ( time being of the essence ) after service on the party in default by the other part of a notice specifying the default and invoking the provisions of this clause then the provisions of clause 5.4 shall have effect immediately upon the expiry of the relevant period |