Common use of RENT CONTROL Clause in Contracts

RENT CONTROL. 33.01 In the event the Fixed Annual Rent or Additional Rent or any part thereof provided to be paid by Tenant under the provisions of this Lease during the Term shall become uncollectible or shall be reduced or required to be reduced or refunded by virtue of any Federal, State, County or City law, order or regulation, or by any direction of a public officer or body pursuant to law, or the orders, rules, code or regulations of any organization or entity formed pursuant to law, whether such organization or entity be public or private (a “Legal Requirement”), then Tenant shall enter into such agreements and take such other steps as Landlord may reasonably request to enable Landlord to collect the maximum rents which, are thereafter and from time to time lawful (but not in excess of the rentals then reserved under this Lease). Upon the termination of such Legal Requirement, (a) Rent shall become and thereafter be payable in accordance with the amounts reserved herein for the periods following such termination and (b) Tenant promptly shall pay in full to Landlord, unless expressly prohibited by law, an amount equal to (i) the Rents which would have been paid pursuant to this Lease but for such Legal Requirement less (ii) the Rents paid to Landlord during the period such Legal Requirement was in effect.

Appears in 2 contracts

Samples: Agreement (Schrodinger, Inc.), Agreement (Schrodinger, Inc.)

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RENT CONTROL. 33.01 In the event the Fixed Annual Rent or Additional Rent or any part thereof provided to be paid by Tenant under the provisions of this Lease during the Term shall become uncollectible or shall be reduced or required to be reduced or refunded by virtue of any Federal, State, County or City rent control or similar law, order or regulation, or by any direction of a public officer or body pursuant to law, or the orders, rules, code or regulations of any organization or entity formed pursuant to law, whether such organization or entity be public or private (a “Legal Requirement”), then Tenant shall enter into such agreements and take such other steps as Landlord may reasonably request to enable Landlord to collect the maximum rents which, are thereafter and from time to time lawful (but not in excess of the rentals then reserved under this Lease). Upon the termination of such Legal Requirement, (a) Rent shall become and thereafter be payable in accordance with the amounts reserved herein for the periods following such termination and (b) Tenant promptly shall pay in full to Landlord, unless expressly prohibited by law, an amount equal to (i) the Rents which would have been paid pursuant to this Lease but for such Legal Requirement less (ii) the Rents paid to Landlord during the period such Legal Requirement was in effect.

Appears in 1 contract

Samples: Lease Modification Agreement (G Iii Apparel Group LTD /De/)

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RENT CONTROL. 33.01 In A-15.01 If at the event commencement of, or at any time(s) during the Fixed Annual Rent or Additional Rent or any part thereof provided to be paid by Tenant under the provisions term of this Lease during Lease, the Term Rent shall become uncollectible or shall not be reduced or required to be reduced or refunded fully collectible by virtue reason of any Federal, State, County or City local law, proclamation, order or regulation, or by any direction of a public officer or body pursuant to law, or the orders, rules, code or regulations of any organization or entity formed pursuant to law, whether such organization or entity be public or private (a “Legal Requirement”), then Tenant shall enter into such agreements agreement(s), and take such other lawful steps (without additional expense to Tenant), as Landlord may reasonably request to enable permit Landlord to collect the maximum rents which, are thereafter and which may from time to time lawful during the continuance of such legal rent restriction be legally permissible (but not in excess of the rentals then amounts reserved therefor under this Lease). Upon the termination of such Legal Requirementlegal rent restriction prior to the expiration of the term of this Lease, (a) the Rent shall become and thereafter be payable hereunder in accordance with the amounts reserved herein in this Lease for the periods following such termination and (b) Tenant promptly shall pay in full to Landlord, unless expressly prohibited by lawif legally permissible, an amount equal to (i) the Rents Rent which would have been paid pursuant to this Lease lease but for such Legal Requirement legal rent restriction less (ii) the Rents Rent paid by Tenant to Landlord during the period period(s) such Legal Requirement legal rent restriction was in effect.

Appears in 1 contract

Samples: Agreement of Lease (Endo Pharmaceuticals Holdings Inc)

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