Pandemic or Industry Down-Turn Sample Clauses

Pandemic or Industry Down-Turn. If there is a resurgence of the COVID-19 pandemic (or another pandemic) resulting in a government order that suspends film showings or limits occupancy of the theatre portion of the Building, or if other events cause box office revenue of U.S. movie theatre operators to decline significantly then, at Tenant’s request, the First Selectman of the Town and the CEO of Tenant will meet to discuss whether or not a change in Base Rent is appropriate. The meeting will be held within ten (10) days after Xxxxxx’s request in-person in New Canaan, unless an in-person meeting is prohibited, in which case the meeting will be held via Zoom or other mutually agreeable video conference format. Options to be discussed at the meeting may include a temporary abatement or suspension of Base Rent (which may be appropriate in the event of a total government shut- down, for example) or a reduction of Base Rent. The Town will negotiate in good faith and, as guidance, will give appropriate weight to information received about the arrangements negotiated by landlords and tenants in comparable facilities and information received pertaining to Tenant’s actual revenue. Until such time as Xxxxxx’s CEO and the First Selectman of the Town agree, or until such time as either Xxxxxx’s CEO or the Town’s First Selectman determines that agreement cannot be reached, Tenant’s obligation to pay Base Rent shall be suspended; however, Base Rent shall continue to accrue subject to any agreed upon reduction or abatement. Notwithstanding, it shall not be unreasonable for the Town to condition any change of Base Rent on Tenant’s cure of any Event of Default.
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Related to Pandemic or Industry Down-Turn

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