Common use of Rent After Casualty or Taking Clause in Contracts

Rent After Casualty or Taking. If the Premises shall be damaged by fire or other casualty, except as provided below, the Annual Fixed Rent and Additional Rent shall be justly and equitably abated and reduced according to the nature and extent of the loss of use thereof suffered by the Tenant. If the fire or other casualty was caused by Tenant, such abatement shall be made only to the extent that Landlord is fully compensated therefore by any lost rent insurance. In the event of a taking which permanently reduces the area of the Premises, a just proportion of the Annual Fixed Rent shall be abated for the remainder of the Term.

Appears in 2 contracts

Samples: Praecis Pharmaceuticals Inc, Praecis Pharmaceuticals Inc

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Rent After Casualty or Taking. If the Premises shall be damaged or rendered untenantable or inaccessible by fire or other casualtycasualty to the Premises and/or the Building, except as provided below, until the Lease has been terminated or the restoration work has been completed, the Annual Fixed Rent and Additional Rent shall be justly and equitably abated and reduced according to the nature and extent rentable square footage of the loss part of use thereof suffered by the Tenant. If the fire Premises which is untenantable or other casualty was caused inaccessible by Tenant, such abatement shall be made only to the extent that Landlord is fully compensated therefore by any lost rent insurance. In the event of a taking which permanently reduces the area of the Premises, a just proportion of the Annual Fixed Rent shall be abated for the remainder of the Term.

Appears in 1 contract

Samples: Sublease (Viacell Inc)

Rent After Casualty or Taking. If the Premises shall be damaged by fire Casualty or other casualtysubject to a Taking, except as provided below, the Annual Fixed Rent and Additional Rent shall be justly and equitably abated and reduced according to the nature and extent of the loss of use thereof suffered by the Tenant. If , from and after the fire date of the Casualty or other casualty was caused by Tenant, such abatement Taking until the Premises shall be made only restored to substantially the extent that Landlord is fully compensated therefore by any lost rent insurancesame condition as immediately prior to such Casualty or Taking. In the event of a taking which permanently reduces the area of the Premises, a just proportion of the Annual Fixed Rent shall be abated for the remainder of the Term.

Appears in 1 contract

Samples: Lease (Voyager Therapeutics, Inc.)

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Rent After Casualty or Taking. If the Premises shall be damaged by fire or other casualty, except as provided belowor partially taken, until the Lease is terminated or the Premises is restored, the Annual Fixed Rent and Additional Rent shall be justly and equitably abated and reduced according to the nature and extent of the loss of use thereof suffered by the Tenant. If Tenant from the fire or date of such fire, other casualty was caused by Tenant, such abatement or taking until the Premises shall be made only restored to substantially the extent that Landlord is fully compensated therefore by any lost rent insurancesame condition as immediately prior to such fire, other casualty or taking. In the event of a taking which permanently reduces the area of the Premises, a just proportion of the Annual Fixed Rent and applicable Additional Rent shall be abated for the remainder of the Term.

Appears in 1 contract

Samples: Disturbance Agreement (Beam Therapeutics Inc.)

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