Is there a formula for determining the rent of a commercial lease?

In the context of a commercial lease, despite the absence of a formula for determining the rent, it might be possible to infer from the arbitration provision, as the chambers judge did, that the parties intended the lease to be at fair market rent. It might then be possible to infer the duty to co-operate in the arbitration process, the machinery for determining the price being subsidiary to the essential agreement to lease at such rent. The failure to fulfill the duty could in those circumstances be characterized as wrongful conduct, giving rise to the application of the principle that a wrongdoer cannot rely on a cancellation provision to repudiate a contract for a cause it has brought about. This is the principle underlying the decision on which the respondent primarily relies: Mason v. Freedman, 1958 CanLII 7 (SCC), [1958] S.C.R. 483.