Rent Abatement. Except for the negligence or willful act of Tenant or its agents, employees, contractors or invitees, if all or any part of the Premises are rendered untenantable by fire or other casualty and this Lease is not terminated, Monthly Base Rent and Rent Adjustments shall xxxxx for that part of the Premises which is untenantable on a per diem basis from the date of the casualty until Landlord has Substantially Completed the repair and restoration work in the Premises which it is required to perform, provided, that as a result of such casualty, Tenant does not occupy the portion of the Premises which is untenantable during such period.
Rent Abatement. Notwithstanding anything to the contrary contained in Section 12.4 above or elsewhere in this Lease, provided no Event of Default shall have occurred and be continuing, in the event that Tenant is unable to use all of the 1270 Space, all of the 50 Rock Space or all of the Retail Space (each, an “Affected Space”), for the conduct of Tenant’s business due solely to the failure of an Essential Service (as defined below) and (a) after Tenant furnishes a notice to Landlord (the “Abatement Notice”) stating that Tenant’s inability to use the Premises is solely due to such condition and such condition continues for a period in excess of (x) 10 consecutive days if the failure to provide such Essential Service results from a circumstance within Landlord’s control or (y) 20 consecutive days if the failure to provide such Essential Service results from an Unavoidable Delay, (b) Tenant does not actually use or occupy the entire Affected Space during such period and (c) such condition has not resulted from the negligence or willful misconduct of Tenant or any Tenant Party, then Fixed Rent, the Retail Operating Expense Payment and Tenant’s Tax Payment shall be abated on a per diem basis with respect to the Affected Space (but not as to the balance of the Premises) for the period commencing on the 11th day (or the 21st day, as applicable) after Tenant furnishes the Abatement Notice, and ending on the earlier of (i) the date Tenant occupies any material portion of the Affected Space which is the subject of such abatement for the ordinary conduct of its business or (ii) the date on which such condition is substantially remedied. An “Essential Service” shall mean only, with respect to each Affected Space, (i) the provision of electricity pursuant to Section 17.1, (ii) the provision of water and steam (when seasonably required) in accordance with the terms set forth in Section 12.1(d), and (iii) Landlord’s failure to provide chilled water during the time periods provided in, and in accordance with the provisions of, Exhibit D-1 and Exhibit D-2 annexed hereto. Notwithstanding the foregoing, if Landlord shall fail to provide chilled water to the Affected Space or the Music Hall and such chilled water can be provided by Tenant by operation of Tenant’s Refrigeration Plant, then in lieu of any abatement pursuant to this Section 12.5, from and after the 10th day of such failure (or the 20th day of such failure, if such failure was due to an Unavoidable Delay), Landlord shall pay to...
Rent Abatement. If Landlord fails to perform the obligations required of Landlord under this Lease and such failure causes all or a portion of the Premises to be untenantable, or if the negligence or willful misconduct of Landlord causes all or a portion of the Premises to become untenantable, Tenant shall give Landlord notice (the “Initial Notice”), specifying such failure to perform by Landlord or such negligence or willful misconduct (referred to herein as a “Landlord Failure”). If Landlord has not cured such Landlord Failure within five (5) business days after the receipt of the Initial Notice (the “Eligibility Period”), Tenant may deliver an additional notice to Landlord (the “Additional Notice”), specifying such Landlord Failure and Xxxxxx’s intention to xxxxx the payment of Rent under this Lease. If Landlord does not cure such Landlord Failure within three (3) business days of receipt of the Additional Notice, Tenant may, upon written notice to Landlord, immediately xxxxx Rent payable under this Lease for that portion of the Premises rendered untenantable and not used by Tenant, for the period beginning on the date five (5) business days after the Initial Notice to the earlier of the date Landlord cures such Landlord Failure or the date Tenant recommences the use of such portion of the Premises. Such right to xxxxx Xxxx shall be Tenant’s sole and exclusive remedy at law or in equity for a Landlord Failure. Without limiting the generality of the foregoing, Tenant hereby waives the provisions of California Civil Code Section 1932(1) or any other applicable existing or future law permitting the termination of this Lease due to a service or utility interruption or failure. Except as provided in this Section 6.4, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Rent Abatement. Provided that the Tenant is not then in default of the Lease (as hereby amended) and is then in occupancy of the entire Premises, then during the period beginning on second (2'd) month of the Lease Term and ending after the third (3`d) month of the Lease Term (the "Rent Abatement Period"), Tenant shall not be obligated to pay any Base Rent otherwise attributable to the Premises for such Rent Abatement Period (the "Rent Abatement"). Tenant acknowledges and agrees that during such Rent Abatement Period, such abatement of Base Rent shall have no effect on the calculation of any future increases in Base Rent, Operating Costs or Landlord's Taxes payable by Tenant pursuant to the terms of this Lease, which increases shall be calculated without regard to such abatement of Base Rent. The foregoing Rent Abatement has been granted to Tenant as additional consideration for entering into this Agreement, and for agreeing to pay the rent and performing the terms and conditions otherwise required under the Lease, as amended. If Tenant shall be in economic default or material non-economic default under the Lease and shall fail to cure such economic default or material non-economic default within notice and cure period, if any, permitted for cure pursuant to the Lease, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under the Lease, one or both of the following remedies: (i) that Tenant shall immediately become obligated to pay to Landlord all Base Rent abated hereunder during the Rent Abatement Period, with interest as provided pursuant to the Lease from the date such Base Rent would have otherwise been due but for the abatement provided herein, or (ii) that the dollar amount of the unapplied portion of the Rent Abatement as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Second Extended Term and Tenant shall immediately be obligated to begin paying Base Rent for the Premises in full.
Rent Abatement. Rent shall be abated during the repair of any damage to the extent the premises are untenantable.
Rent Abatement. If all or any part of the Premises are rendered untenantable by fire or other casualty and this Lease is not terminated, Monthly Base Rent and Rent Adjustments shall xxxxx for that part of the Premises which is untenantable on a per diem basis from the date of the casualty until Landlord has Substantially Completed the repair and restoration work in the Premises which it is required to perform, provided, that as a result of such casualty, Tenant does not occupy the portion of the Premises which is untenantable during such period.
Rent Abatement. If Landlord repairs the Premises or the Building after a Premises Damage as described in this Article 16, Minimum Monthly Rent and Additional Rent shall be equitably reduced from the date of the Premises Damage until the repairs are completed, based upon the extent to which such repairs interfere with the business carried on by Tenant in the Premises, but only to the extent Landlord receives proceeds from the rental income insurance described in Section 9.1. Landlord agrees to take reasonable steps to make a claim for and collect any rental income insurance proceeds that might be available.
Rent Abatement. Notwithstanding anything to the contrary contained herein and provided that no default by Tenant occurs hereunder beyond any applicable notice and cure period, Landlord hereby agrees that Tenant shall not be required to pay monthly Base Rent for the second (2nd) month of the initial Term through the eighth (8th) month of the initial Term (the “Abatement Period”). The total amount of monthly Base Rent abated during the Abatement Period shall not exceed Five Hundred Twenty-Six Thousand Six Hundred Eighty and 00/100 Dollars ($526,680.00) (the “Abatement Amount”); provided that the Abatement Amount shall not be increased as a result of any increase in Base Rent arising from Landlord’s disbursement of any Additional TI Allowance in accordance with Sections 4.2 and 4.4 of this Lease. During the Abatement Period, Tenant shall still be responsible for the payment of all of its other monetary obligations under this Lease, including, all Additional Rent, including Operating Expenses the Property Management Fee and costs of utilities for the Premises. In the event of a default by Tenant under the terms of this Lease that results in termination of this Lease in accordance with the provisions of this Lease, then as a part of the recovery set forth in this Lease and in addition to any other remedies to which Landlord is entitled pursuant to Section 31 hereof, Landlord shall be entitled to the immediate recovery, as of the day prior to such termination, of the unamortized Abatement Amount that was abated under the provisions of this Section 8.
Rent Abatement. If the Premises and/or the Building shall be damaged or destroyed by fire or other casualty so as to render the Premises completely or partially untenantable, then the Rent shall be abated in the proportion that the untenantable area of the Premises bears to the total area of the Premises for the period from the date of the damage or destruction to the date that the repair or restoration shall be substantially completed; provided, however, that (i) if in Landlord's reasonable judgment the repair or restoration would have been substantially completed at an earlier date but for Tenant's having failed to reasonably cooperate with Landlord in effecting the same, then the repair or restoration shall be deemed to have been substantially completed on such earlier date and, accordingly, any abatement shall cease, and (ii) if Tenant or any of its subtenants shall reoccupy a portion of the Premises prior to the substantial completion of the repair or restoration, then the Rent allocable to such reoccupied portion (on a pro-rata rentable square foot basis), shall be payable by Tenant from the date of such occupancy. In no case shall Tenant be entitled to any compensation or damages for loss in the use in the whole or any part of the Premises and/or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration. For purposes herein, the term "substantially completed," or any variation thereof, shall have the same meaning as set forth in Section 3.02 hereof.
Rent Abatement. If any fire or casualty damage renders the Premises untenantable and if this Lease is not terminated according to Section 10.1, then Rent will abatx xxxinning on the date of such damage. Such abatement will end on the earlier of 30 days after the date Landlord has substantially completed the repairs and restoration Landlord is required to perform according to Section 10.2 or the date Tenant accepts the Premises for occupancy. Such abatement will be in an amount bearing the same ratio to the total amount of Rent for such period as the untenantable portion of the Premises bears to the entire Premises. In no event will Landlord be liable for any inconvenience or annoyance to Tenant or injury to the business of Tenant resulting in any way from damage caused by fire or other casualty or the repair of such damage, provided however that, to the extent Tenant remains in possession of a portion of the Premises, Landlord will take all reasonable steps to minimize the disruption to Tenant's business and use of such portion of the Premises during the period of repair.