Common use of Abatement or Adjustment of Rent Clause in Contracts

Abatement or Adjustment of Rent. With respect to all provisions of this Article 14, provided any fire or other casualty is not the fault of, caused by, or the result of any error or omission by, or failure of Tenant, if the Premises shall be damaged or destroyed by fire or other casualty after the execution of this Lease and before the termination hereof, then Fixed Rent and any other charges payable hereunder shall be abated as set forth herein. If the whole of the Premises shall be damaged or destroyed, or if a substantial portion thereof shall be damaged or destroyed to the extent that Tenant, in its reasonable judgment, determines that it cannot conduct business in the Premises, then Fixed Rent and any other charges payable hereunder shall be abated entirely until Tenant is obligated to recommence paying rent in accordance with Section 14.3 below. If less than a substantial part of the Premises shall be damaged or destroyed, then Fixed Rent and any other charges payable hereunder shall be abated in proportion to that portion of the Premises of which Tenant shall be deprived on account of such damage or destruction and the repair, restoration, rebuilding or replacement or any combination thereof until Tenant is obligated to recommence paying rent in accordance with Section 14.3 below.

Appears in 1 contract

Samples: Lease With Option to Purchase (Delcath Systems Inc)

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Abatement or Adjustment of Rent. With respect to all provisions of this Article 14, provided any fire or other casualty is not the fault of, caused by, or the result of any error or omission by, or failure of Tenant, if If the Premises shall be damaged or destroyed by fire or other casualty after the execution of this Lease and before the termination hereof, then Fixed Minimum Rent and any other charges payable hereunder hereunder, shall be abated as set forth herein. If the whole of the Premises shall be damaged or destroyed, or if a substantial portion thereof shall be damaged or destroyed to the extent that Tenant, in its reasonable judgment, determines that it cannot conduct business in the Premises, then Fixed Minimum Rent and any other charges payable hereunder shall be abated entirely until Tenant is obligated to recommence paying rent in accordance with Section 14.3 15.3 below. If less than a such substantial part portion of the Premises shall be damaged or destroyed, then Fixed Minimum Rent and any other charges payable hereunder shall be abated in proportion to that portion of the Premises of which Tenant shall be deprived on account of such damage or destruction and the repair, restoration, rebuilding or replacement or any combination thereof until thereof, of the improvements so damaged or destroyed, and Tenant is shall again be obligated to recommence paying rent in accordance with Section 14.3 15.3 below.

Appears in 1 contract

Samples: Lease

Abatement or Adjustment of Rent. With respect to all provisions of this Article 14, provided any fire or other casualty is not If the fault of, caused by, or the result of any error or omission by, or failure of Tenant, if the Leased Premises shall be damaged or destroyed by fire or other casualty after the execution of this Lease Commencement Date and before the termination hereof, then Fixed Annual Basic Rent and any other charges payable hereunder shall hereunder, may be abated as set forth herein. If the whole of the Leased Premises shall be damaged or destroyed, or if a substantial portion thereof shall be damaged or destroyed to the extent that Tenant, in its reasonable business judgment, determines that it cannot conduct business in the PremisesLeased Premises and Tenant closes for business, then Fixed Annual Basic Rent and any other charges payable hereunder shall be abated entirely until Tenant is obligated to recommence paying full rent in accordance with Section 14.3 belowArticle 10.3. If less than a such substantial part of the Leased Premises shall be damaged or destroyed, then Fixed Annual Basic Rent and any other charges payable hereunder shall be equitably abated in proportion to that portion of based upon the Premises of which Tenant shall be deprived on account impact of such damage or destruction and the repair, restoration, rebuilding or replacement or any combination thereof until upon Tenant’s ability to conduct business in the Leased Premises, and Tenant is shall again be obligated to recommence paying full rent in accordance with Section 14.3 belowArticle 10.3.

Appears in 1 contract

Samples: Office Lease (Textainer Group Holdings LTD)

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Abatement or Adjustment of Rent. With respect to all provisions of this Article 14, provided any fire or other casualty is not the fault of, caused by, or the result of any error or omission by, or failure of Tenant, if If the Premises shall be damaged or destroyed by fire or other casualty after the execution of this Lease and before the termination hereof, then Fixed Rent and any other charges payable hereunder hereunder, shall be abated as set forth herein. If the whole of the Premises shall be damaged or destroyed, or if a substantial portion thereof shall be damaged or destroyed to the extent that Tenant, in its reasonable judgment, determines that it cannot conduct business in the Premises, then Fixed Rent and any other charges payable hereunder shall be abated entirely until Tenant such restoration is obligated to recommence paying rent in accordance with Section 14.3 belowcompleted by Landlord. If less than a such substantial part of the Premises shall be damaged or destroyed, then Fixed Rent and any other charges payable hereunder shall be abated in proportion to that portion of the Premises of which Tenant shall be deprived on account of such damage or destruction and until the repair, restoration, rebuilding or replacement or any combination thereof until Tenant is obligated to recommence paying rent in accordance with Section 14.3 belowthereof, of the improvements so damaged or destroyed.

Appears in 1 contract

Samples: Lease (Mazel Stores Inc)

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