NOTES CLAUSE CONCERN/RISK MITIGATION none noted This clause creates a 1.4 Adjusted NABERS Rating none noted mechanism for the parties to If a party reasonably believes that the Target NABERS Rating for which it is responsible adjust NABERS Ratings cannot be achieved then provided: where parties have acted in that party gives written notice to the other party stating the reasons why the good faith and undertaken Target NABERS Rating cannot be achieved and requesting an Adjusted reasonable efforts to obtain a Target NABERS Rating. NABERS Rating (Adjustment Notice); that party has taken all reasonable measures to achieve the Target NABERS When deciding whether to use this clause, parties should Rating; determine their expectations the inability to achieve the Target NABERS Rating is not due to any in relation to the other party misrepresentation regarding the condition or capacity or the Building, the achieving a NABERS Rating. Services or the Premises or deterioration in or failure of relevant parts of the For example, Building, the Services or the Premises or to activities in the Building or the A tenant moving into a Premises; and building because it that or the parties together, has or have exhausted all reasonable avenues expects the landlord to to achieve the Target NABERS Rating, the Adjusted NABERS Rating will achieve a Base Building become the Target NABERS Rating. NABERS Rating may not want to to this clause. Once the Adjustment Notice is given, the other party may agree to the request for an A landlord may find this Adjusted NABERS Rating in writing within [insert #] days. clause acceptable if it If the other party does not accept the request for an Adjusted NABERS Rating, or satisfied that the tenant respond within the time period in clause 1.4(b), the request may be referred by either or will use its best both parties for resolution by an Expert appointed under the processes in the Lease. endeavours to obtain a Tenancy NABERS Rating.
NOTES CLAUSE CONCERN/RISK MITIGATION This clause creates a mechanism for the parties to adjust NABERS Ratings where parties have acted in good faith and undertaken reasonable efforts to obtain a Target NABERS Rating. When deciding whether to use this clause, parties should determine their expectations in relation to the other party achieving a NABERS Rating. For example, A tenant moving into a building because it expects the landlord to achieve a Base Building NABERS Rating may not want to to this clause. A landlord may find this clause acceptable if it satisfied that the tenant will use its best endeavours to obtain a Tenancy NABERS Rating. 1.4 Adjusted NABERS Rating If a party reasonably believes that the Target NABERS Rating for which it is responsible cannot be achieved then provided: that party gives written notice to the other party stating the reasons why the Target NABERS Rating cannot be achieved and requesting an Adjusted NABERS Rating (Adjustment Notice); that party has taken all reasonable measures to achieve the Target NABERS Rating; the inability to achieve the Target NABERS Rating is not due to any misrepresentation regarding the condition or capacity or the Building, the Services or the Premises or deterioration in or failure of relevant parts of the Building, the Services or the Premises or to activities in the Building or the Premises; and that or the parties together, has or have exhausted all reasonable avenues to achieve the Target NABERS Rating, the Adjusted NABERS Rating will become the Target NABERS Rating. Once the Adjustment Notice is given, the other party may agree to the request for an Adjusted NABERS Rating in writing within [insert #] days. If the other party does not accept the request for an Adjusted NABERS Rating, or respond within the time period in clause 1.4(b), the request may be referred by either or both parties for resolution by an Expert appointed under the processes in the Lease. none noted none noted
BBP-LEASING-STANDARD-TEMPLATE-CLAUSES-DOWNLOAD-ALL.docx