Paragraph 15 InterpretationF1

In this Schedule—

• “business tenancy” has the meaning given in paragraph 1;

• “business tenancy with a rent review” has the meaning given in paragraph 2.

In this Schedule, in relation to a business tenancy with a rent review—

• “elements 1 and 2” means element 1 and element 2 set out in paragraph 8;

• “inflation” means a change in prices or costs (including a change in certain kinds of prices or costs) whether or not calculated by an official index; and here “prices or costs” includes rents;

• “new passing rent” has the meaning given in paragraph 7;

• “particular rent review” means a particular occasion when the relevant rent review terms operate or are to operate;

• “reference amount” has the meaning given in paragraph 8(2);

• “rent review terms” has the meaning given in paragraph 2(2);

• “rent under review” has the meaning given in paragraph 2(2).

A reference in this Schedule to rent review terms that do not specify new passing rent has the meaning given in paragraph 7.