Rent Apportionment Clause Samples
The Rent Apportionment clause defines how rent is calculated and divided between parties when a lease begins or ends partway through a rental period. Typically, this means that rent is calculated on a daily basis for the portion of the month or period that the tenant occupies the property, rather than requiring payment for the entire period. This ensures that both landlord and tenant pay or receive rent only for the actual time the property is occupied, providing fairness and clarity in financial obligations when leases do not align perfectly with standard rental periods.
POPULAR SAMPLE Copied 2 times
Rent Apportionment. Upon the expiration of the Term, all Base Rent and Supplementary Rent and other items payable by Tenant under this Lease shall be apportioned to the date of termination.
Rent Apportionment. If either Landlord or Tenant terminates this Lease under this Article 11, Landlord will apportion Basic Rent and Tenant’s Share of Operating Expenses on a per diem basis and Tenant will pay Basic Rent and Tenant’s Share of Operating Expenses to either (a) the date of the fire or other casualty if the event renders the Premises completely untenantable, or (b) if the event does not render the Premises completely untenantable, the effective date of such termination (provided that if a portion of the Premises is rendered untenantable, but the remaining portion is tenantable, then, Tenant’s obligation to pay Basic Rent and Tenant’s Share of Operating Expenses shall ▇▇▇▇▇ as set forth above from the date of the casualty and Tenant will pay the unabated portion of the Basic Rent to the date of such termination).
Rent Apportionment. In the event of a termination of this Lease pursuant to this Article 11, Rent shall be apportioned on a per diem basis and paid to the date of the fire or other casualty.
Rent Apportionment. In the event of any taking or condemnation of all or any part of the Premises, if this Lease shall not have expired or been terminated Tenant shall be entitled to a proportionate reduction in the Minimum Annual Rent paid hereunder from and after the date possession is required by the condemning authority, based on the proportion which the floor area taken from the Premises bears to the entire floor area of the Premises immediately prior to such taking.
Rent Apportionment. In the event of any taking or condemnation, the then current Minimum Rent, Sales Break Point and the square foot floor area in the Leased Premises as determined pursuant to Section 1.1 shall be apportioned as of the date when possession of the Leased Premises is required to be delivered to the condemning authority or termination of this Lease, as the case may be, and, if the Term of this Lease shall not have ceased and have been terminated as of said date, Tenant shall be entitled to a pro rata reduction in the Minimum Rent payable and Sales Break Point hereunder, or, if Tenant has prepaid Minimum Rent, Tenant shall be entitled to a pro rata credit for the Minimum Rent paid hereunder, based on the proportion which the floor area taken from the Leased Premises bears to the entire floor area of the Leased Premises immediately prior to such taking.
Rent Apportionment. In the event of any act of eminent domain, Tenant’s Minimum Guaranteed Rental shall be reduced as of the date of vesting of title based on the proportion that the leasable area taken from the Premises bears to the entire leasable area of the Premises immediately prior to the vesture. Likewise, all additional rent under this Lease that is based on the leasable area of the Premises or the leasable floor area in the Shopping Center shall be adjusted accordingly.
Rent Apportionment. In the event of determination of this Lease for any reason before the expiry of the Term the Rent shall be apportioned to the date of termination.
Rent Apportionment. In the event of any such taking, condemnation or purchase in lieu thereof the Minimum Rent and Sales Break Point shall be reduced as of the date of vesting of title, based on the proportion which the floor area taken from the Leased Premises bears to the entire floor area of the Leased Premises immediately prior to such event, and all other charges hereunder that are based on the floor area of the Leased Premises and/or the leasable floor area in the Shopping Center shall be appropriately adjusted.
Rent Apportionment. In the event of any act of eminent domain, Tenant's Minimum Rent and Sales Breakpoint shall be reduced as of the date of vesting of title based on the proportion that the leasable area taken from the Premises bears to the entire leasable area of the Premises immediately prior to the vesture. Likewise, all Additional Charges under this Lease that are based on the leasable area of the Premises or the leasable floor area in the Shopping Center shall be adjusted accordingly.
Rent Apportionment. 24 Section 10.3. Temporary Taking................................................................25