Common use of Rent Control Clause in Contracts

Rent Control. In the event the minimum rent and/or additional rent or any part thereof provided to be paid by Tenant under the provisions of this Lease during the demised 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, Tenant shall enter into such agreement(s) and take such other steps (without additional expense or liability to Tenant) as Landlord may reasonably request and as may be legally permissible to permit Landlord to collect the maximum rents which from time to time during the continuance of such legal rent restriction may be legally permissible (and not in excess of the amounts reserved therefor under this Lease). Upon the termination of such legal rent restriction, (a) the minimum rent and/or additional rent shall become and thereafter be payable in accordance with the amounts reserved herein for the periods following such termination, and (b) Tenant shall pay to Landlord promptly upon being billed, to the maximum extent legally permissible, an amount equal to (i) minimum rent and/or additional rent which would have been paid pursuant to this Lease but for such legal rent restriction less (ii) the rents paid by Tenant during the period such legal rent restriction was in effect.

Appears in 9 contracts

Sources: Lease Agreement (Jesup & Lamont, Inc.), Lease (Global Technologies LTD), Lease Agreement (TMP Worldwide Inc)

Rent Control. In the event the minimum rent and/or additional rent Minimum Rent or Additional Rent or any part thereof provided to be paid by Tenant under the provisions of this Lease during the demised 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 lawLegal Requirements, Tenant shall enter into such agreement(s) and take such other steps (without additional expense or liability to Tenant) as Landlord may reasonably request and as may be legally permissible to permit Landlord to collect the maximum rents which may from time to time during the continuance of such legal rent restriction may be legally permissible (and but not in excess of the amounts reserved therefor under this Lease). Upon the termination of such legal rent restriction, restriction (a) the minimum rent Minimum Rent and/or additional rent Additional Rent shall become and thereafter be payable in accordance with the amounts reserved herein for the periods following such termination, and (b) Tenant shall pay to Landlord promptly upon being billed, to the maximum extent legally permissible, an amount equal to (i) minimum rent the Minimum Rent and/or additional rent Additional Rent which would have been paid pursuant to this Lease but for such legal rent restriction restriction, less (ii) the rents amounts paid by Tenant during the period such legal rent restriction was in effect.

Appears in 3 contracts

Sources: Lease Agreement (Compass, Inc.), Lease Agreement (Urban Compass, Inc.), Lease Agreement (Relmada Therapeutics, Inc.)

Rent Control. 33.01 In the event the minimum rent and/or additional rent Fixed Annual Rent or Additional Rent or any part thereof provided to be paid by Tenant under the provisions of this Lease during the demised term Term shall become uncollectible or shall be reduced or required to be reduced or refunded by virtue of any federalFederal, stateState, county County or city 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 agreement(s) agreements and take such other steps (without additional expense or liability to Tenant) as Landlord may reasonably request and as may be legally permissible to permit enable Landlord to collect the maximum rents which which, are thereafter and from time to time during the continuance of such legal rent restriction may be legally permissible lawful (and but not in excess of the amounts rentals then reserved therefor under this Lease). Upon the termination of such legal rent restrictionLegal Requirement, (a) the minimum rent and/or additional rent Rent shall become and thereafter be payable in accordance with the amounts reserved herein for the periods following such termination, termination and (b) Tenant promptly shall pay in full to Landlord promptly upon being billedLandlord, to the maximum extent legally permissibleunless expressly prohibited by law, an amount equal to (i) minimum rent and/or additional rent the Rents which would have been paid pursuant to this Lease but for such legal rent restriction Legal Requirement less (ii) the rents Rents paid by Tenant to Landlord during the period such legal rent restriction Legal Requirement was in effect.

Appears in 2 contracts

Sources: Lease Agreement (Schrodinger, Inc.), Lease Agreement (Schrodinger, Inc.)

Rent Control. 33.01 In the event the minimum rent and/or additional rent Fixed Annual Rent or Additional Rent or any part thereof provided to be paid by Tenant under the provisions of this Lease during the demised term Term shall become uncollectible or shall be reduced or required to be reduced or refunded by virtue of any federalFederal, stateState, county County or city 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 agreement(s) agreements and take such other steps (without additional expense or liability to Tenant) as Landlord may reasonably request and as may be legally permissible to permit enable Landlord to collect the maximum rents which which, are thereafter and from time to time during the continuance of such legal rent restriction may be legally permissible lawful (and but not in excess of the amounts rentals then reserved therefor under this Lease). Upon the termination of such legal rent restrictionLegal Requirement, (a) the minimum rent and/or additional rent Rent shall become and thereafter be payable in accordance with the amounts reserved herein for the periods following such termination, termination and (b) Tenant promptly shall pay in full to Landlord promptly upon being billedLandlord, to the maximum extent legally permissibleunless expressly prohibited by law, an amount equal to (i) minimum rent and/or additional rent the Rents which would have been paid pursuant to this Lease but for such legal rent restriction Legal Requirement less (ii) the rents Rents paid by Tenant to Landlord during the period such legal rent restriction Legal Requirement was in effect.

Appears in 1 contract

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