ChD 3 February 1995. The plaintiff tenant holds the severed term of a lease at an apportioned yearly rent of £9,425. For every 21-year period after that the rent was to be a fair market rent set in accordance with clause 4 of the lease, which stated that it should either be £9,425, the rent payable during the previous rent period or 8% of the rack-rents receivable by the lessee. The landlords contended that as the premises were not sublet but occupied by one tenant the rent at review should be 8% of what would be a market rack-rent. It was held that rack-rents `receivable` meant the rents actually received by the tenant, therefore in this case that machinery for rent review had broken down. However neither could the court set an alternative valuation method as the parties had agreed an ad hoc means of arriving at ground rent and it was not clear what rental basis any implied term or machinery could be directed to.