Common use of Rent Abatement Clause in Contracts

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.

Appears in 3 contracts

Samples: Sublease Agreement (Locust Walk Acquisition Corp.), Standard Industrial Net Lease (CardioVascular BioTherapeutics, Inc.), Standard Industrial Net Lease (Genetronics Biomedical Corp)

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Rent Abatement. If Landlord repairs the Premises or the Building building(s) of which the Premises are a part after a Premises Damage damage or destruction as described in this Article 16, Minimum Monthly Rent and Additional Rent shall be equitably reduced payable by Tenant hereunder from the date of the Premises Damage damage until the repairs are completedcompleted shall be equitably reduced, 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 9.1paid for by Tenant. Landlord agrees to take reasonable steps to make a claim for and collect any rental income insurance proceeds that might be available.

Appears in 2 contracts

Samples: Sublease Agreement (Tenby Pharma Inc), Standard Industrial Net Lease (Avanir Pharmaceuticals)

Rent Abatement. If Landlord repairs the Premises or the Building building after a Premises Damage damage or destruction as described in this Article 16, Minimum Monthly Rent and Additional Rent shall be equitably reduced payable by Tenant hereunder from the date of the Premises Damage damage until the repairs are completedcompleted shall be equitably reduced, 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 9.1paid for by Tenant. Landlord agrees to take reasonable steps to make a claim for and collect any rental income insurance proceeds that might be available.

Appears in 2 contracts

Samples: Standard Industrial Net Lease (Mitokor), Standard Industrial Net Lease (Mitokor)

Rent Abatement. If Landlord repairs the Premises or the Building building after a Premises Damage damage or destruction as described in this Article 16Article, Minimum Monthly Rent and Additional Rent shall be equitably reduced payable by Tenant hereunder from the date of the Premises Damage damage until the repairs are completedcompleted shall be equitably reduced, 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 9.1paid for by Tenant. Landlord agrees to take reasonable steps to make a claim for and collect any rental income insurance proceeds that might be available.

Appears in 2 contracts

Samples: Standard Industrial Gross Lease (Inland Entertainment Corp), Standard Industrial Gross Lease (Scripps Financial Corp)

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 Claim for and collect any rental income insurance proceeds that might be available.

Appears in 2 contracts

Samples: Standard Industrial Net Lease (Mabvax Therapeutics Holdings, Inc.), Standard Industrial Net Lease (Mabvax Therapeutics Holdings, Inc.)

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 damage and/or repairs interfere with the business carried on by Tenant in the Premises, but only to the extent Landlord receives proceeds from such rental loss is covered by (or would have been covered by) the rental income insurance described in required pursuant to 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.

Appears in 1 contract

Samples: Standard Industrial Net Lease (Halozyme Therapeutics Inc)

Rent Abatement. If Landlord repairs the Premises or the Building building after a Premises Damage damage or destruction as described in this Article 16Article, Minimum Monthly Rent and Additional Rent shall be equitably reduced payable by Tenant hereunder from the date of the Premises Damage damage until the repairs are completedcompleted shall be equitably reduced, 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 all reasonable steps to make a claim for and collect any rental income insurance proceeds that might be available.

Appears in 1 contract

Samples: Office Lease (Evoke Pharma Inc)

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Rent Abatement. If Landlord repairs the Premises or the Building after a Premises Damage damage or destruction as described in this Article 16, Minimum Monthly Rent and Additional Rent shall be equitably reduced payable by Tenant hereunder from the date of the Premises Damage damage until the repairs are completedcompleted shall be equitably reduced, 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 9.1paid for by Tenant. Landlord agrees to take reasonable steps to make a claim for and collect any rental income insurance proceeds that might be available.

Appears in 1 contract

Samples: Standard Industrial Net Lease (Avanir Pharmaceuticals)

Rent Abatement. If Landlord repairs the Premises or the Building building after a Premises Damage damage or destruction as described in this Article 16,, Minimum Monthly Rent and Additional Rent shall be equitably reduced payable by Tenant hereunder from the date of the Premises Damage damage until the repairs are completedcompleted shall be equitably reduced, 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 9.1paid for by Tenant. Landlord agrees to take reasonable steps to make a claim for and collect any rental income insurance proceeds that might be available.

Appears in 1 contract

Samples: Standard Industrial Net Lease (Sgi International)

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 that such loss is covered or would be covered by the rental income insurance described in required to be carried by Landlord under 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.

Appears in 1 contract

Samples: Standard Industrial Net Lease (Jmar Technologies Inc)

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 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.

Appears in 1 contract

Samples: Standard Industrial Net Lease (Aethlon Medical Inc)

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