Common use of Rent Abatement Due to Casualty Clause in Contracts

Rent Abatement Due to Casualty. If, as a result of any Casualty Damage Tenant is unable to gain access to or conduct business in the Premises, Tenant shall be entitled to a proportionate abatement of Base Rent and any Expense Increases from the date of the Casualty Damage through the date the Lease is terminated or the earlier of (i) the date Tenant occupies the Premises; or (ii) the date Landlord’s and Tenant’s Restoration Work is Substantially Completed (or, in the event of any Tenant Delay, the date all such work would have been so completed in the absence of such Tenant Delay). The amount of such abatement shall be equal to the Base Rent and Expense Increases payable during the restoration period, multiplied by a fraction, the numerator of which is the RSF of that portion of the Premises which is rendered unusable (including, without limitation, due to the inability to gain access thereto or to conduct business therein) by the Casualty Damage, and the denominator of which is the RSF of the entire Premises. Except as otherwise expressly provided in this Lease, Tenant’s right to an abatement of Rent as described in this Section 16.5 shall be Tenant’s sole remedy in connection with any Casualty Damage described in this Article 16 and the repair thereof, and Tenant shall have no claim for, and hereby releases Landlord and all Landlord Parties from all Claims arising out of any Casualty Damage to the Premises, the Building or the Project or the repair or restoration thereof, including any cost, loss or expense resulting from any loss of use or any inconvenience or annoyance thereby occasioned.

Rent Abatement Due to Casualty. If, as a result of any Casualty Damage Damage, Tenant is unable to gain access to or and conduct business in the Premises, Tenant shall be entitled to a proportionate abatement of Base Rent and any Expense Increases Additional Rent payable by Tenant under Section 4.7 from the date of the Casualty Damage through the date the Lease is terminated or the earlier of (i) the date Tenant occupies substantially all of the PremisesPremises subject to the Casualty Damage; or (ii) the date Landlord’s and Tenant’s Restoration Work is Substantially Completed (or, in the event of any Tenant Delay, the date all such work would have been so completed in the absence of such Tenant Delay) (the “Restoration Work Completion Date”). The amount of such abatement shall be equal to the product of the Base Rent and Expense Increases payable during the restoration period, multiplied by a fraction, the numerator of which is the RSF of that portion of the Premises which that is rendered unusable (including, without limitation, due to the inability to gain access thereto or to conduct business therein) by the Casualty Damage, and the denominator of which is the RSF of the entire Premises. Except as otherwise expressly In the case of any temporary space provided in by Landlord pursuant to this LeaseArticle, such abatement shall be equal to the amount by which the Base Rent plus Tenant’s Share of Expense Increases payable for the Premises from the Casualty Notice Date through the Restoration Work Completion Date exceeds the fair market Base Rental value of such temporary space plus the equitably adjusted (based on rentable square feet) Tenant’s Share of Expense Increases for such temporary space for such period of time. Tenant’s right to an abatement of Base Rent as described in this Section 16.5 shall be Tenant’s sole remedy in connection with any Casualty Damage described in this Article 16 and the repair thereof, and Tenant shall have no claim for, and hereby releases Landlord and all Landlord Parties from all Claims arising out of any Casualty Damage to the Premises, the Building or the Project or the repair or restoration thereof, including any cost, loss or expense resulting from any loss of use or any inconvenience or annoyance thereby occasioned.

Rent Abatement Due to Casualty. IfLandlord and Tenant agree that, as a if the Casualty was not the result of any Casualty Damage the negligence or willful misconduct of Tenant is unable to gain access to or conduct business in the PremisesTenant’s employees, contractors, licensees, subtenants or invitees, Tenant shall be entitled to provided with a proportionate abatement of Base Rent and any Expense Increases from based on the date Rentable Square Feet of the Casualty Damage through Leased Premises rendered unusable (due to physical damage to the date the Lease is terminated Leased Premises or the earlier unavailability of access to the Leased Premises) and not used by Tenant. That proportional abatement, if any, shall be provided during the period (a) beginning on the later of (i) the date Tenant occupies of the Premises; Casualty or (ii) the date Landlord’s and Tenant’s Restoration Work is Substantially Completed (or, in the event of any on which Tenant Delay, the date all such work would have been so completed in the absence of such Tenant Delay). The amount of such abatement shall be equal ceases to the Base Rent and Expense Increases payable during the restoration period, multiplied by a fraction, the numerator of which is the RSF of occupy that portion of the Leased Premises which is rendered affected by the Casualty, and (b) ending on (i) the date that the unusable portions of the Leased Premises, including the Tenant’s Alterations and improvements, are once again available for legal use by Tenant or (includingii) the effective date of termination under Part Ill, without limitationSection 15.7. Landlord shall not be liable to Tenant or any other person or entity for any direct damages unless caused by the gross negligence or willful misconduct of Landlord or Landlord’s employees, contractors, licensees, or invitees, due to, arising out of, or as a result of the Casualty. In connection with the preceding sentence, Tenant’s “direct damages” shall be deemed to include (a) all of Tenant’s relocation costs incurred in connection with Tenant’s moving to replacement premises in lieu of those portions of the inability to gain access thereto or to conduct business therein) Leased Premises affected by the Casualty Damagein order to permit Tenant to complete any production activities pending as of such Casualty, and the denominator of which is the RSF of the entire Premises. Except as otherwise expressly provided in this Lease, Tenant’s right to an abatement of Rent as described in this Section 16.5 shall be Tenant’s sole remedy (b) any occupancy costs incurred by Tenant in connection with Tenant’s leasing of such replacement premises in order for Tenant to complete any production activities pending as of such Casualty Damage described in this Article 16 excess of the Rent payable by Tenant hereunder; provided, further, that in no event shall Landlord be liable for any other “consequential” damages (including but not limited to lost profits of Tenant or loss of or interference with Tenant’s business) arising out of, or as a result of the Casualty. Notwithstanding the foregoing, to the extent that any of the Stages are damaged by a Casualty, in addition to the rent abatement Tenant is entitled to for the unusable Stage or Stages which are damaged, Tenant shall also be entitled to rent abatement for those portions of the production office space, for which Tenant has no use and the repair thereofdoes not use due to Tenant’s inability to use such Stage(s). Although Tenant is not obligated to maintain business interruption insurance, Tenant agrees that Landlord shall not be liable for any damages, losses, costs or expenses that would be covered by a commercially reasonable business interruption insurance policy, unless such damages, losses, costs or expenses are caused by Landlord’s negligence or willful misconduct, and Tenant shall have no claim for, and hereby releases Landlord and all Landlord Parties from all Claims arising out of any Casualty Damage then only for an amount equal to the Premises, the Building or the Project or the repair or restoration thereof, including any cost, loss or expense resulting from any loss of use or any inconvenience or annoyance thereby occasioneda commercially reasonable deductible under such business interruption insurance policy maintained by Tenant.

Rent Abatement Due to Casualty. If, as a result of any Casualty Damage Landlord Insured Casualty, Tenant is unable to gain access to or conduct business in the Premises, Tenant shall be entitled to a proportionate abatement of Base Rent and any Expense Increases from the date of the Landlord Insured Casualty Damage through the date the Lease is terminated or the earlier of (i) the date Tenant occupies the Premises; or (ii) the date Landlord’s and Tenant’s Restoration Work is Substantially Completed (or, in the event of any Tenant Delay, the date all such work would have been so completed in the absence of such Tenant Delay). The amount of such abatement shall be equal to the product of the Base Rent and Expense Increases payable during the restoration period, multiplied by a fraction, the numerator of which is the RSF of that portion of the Premises which is rendered unusable (including, without limitation, due to the inability to gain access thereto or to conduct business therein) by the Casualty DamageLandlord Insured Casualty, and the denominator of which is the RSF of the entire Premises. Except as otherwise expressly In the case of any temporary space provided in by Landlord pursuant to this LeaseArticle, such abatement shall be equal to the amount by which the Base Rent plus Tenant’s Share of Expense Increases payable for the Premises from the Casualty Notice Date through the Tenant Improvements Completion Date, exceeds the fair market base rental value of such temporary space plus the equitably adjusted (based on rentable square feet) Tenant’s Share of Expense Increases for such temporary space. Tenant’s right to an abatement of Base Rent as described in this Section 16.5 shall be Tenant’s sole remedy in connection with any Casualty Damage described in this Article 16 and the repair thereof, and Tenant shall have no claim for, and hereby releases Landlord and all Landlord Parties from all Claims arising out of any Casualty Damage to the Premises, the Building or the Project or the repair or restoration thereof, including any cost, loss or expense resulting from any loss of use or any inconvenience or annoyance thereby occasioned.