Rent Payable In Advance

Most commercial leases contain a requirement for the tenant to pay the annual rent by equal quarterly payments in advance. The Quarter Days being 25^th March (Lady Day), 24^th June (Midsummer's Day), 29^th September (Michaelmas Day) and 25^th December (no prizes).

During the term of the lease the payments fall due on the quarter day itself and the entire sum due, a full quarter's rent, must be paid on or by that date. But if, for some reason, the lease comes to an end during the quarter, say where a break clause takes effect, or where the lease is forfeited, the question arises whether the rent for that quarter can be apportioned to the break date or forfeiture date so that less than a full quarter's rent is payable.