Common use of Rent Apportionment Clause in Contracts

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 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, 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.