Common use of Temporary Reduction of Rent Clause in Contracts

Temporary Reduction of Rent. If the Property is destroyed or damaged and Landlord or Tenant repairs or restores the Property pursuant to the provisions of this Article Seven, any rent payable during the period of such damage, repair and/or restoration shall be reduced according to the degree, if any, to which Xxxxxx's use of the Property is impaired. However, the reduction shall not exceed the sum of one year's payment of rent. Except for such possible reduction in rent, Tenant shall not be entitled to any compensation, reduction, or reimbursement from Landlord as a result of any damage, destruction, repair, or restoration of or to the Property.

Appears in 1 contract

Samples: Industrial Real Estate Lease (Gish Biomedical Inc)

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Temporary Reduction of Rent. If the Property is destroyed or damaged and Landlord or Tenant repairs or restores the Property pursuant to the provisions of this Article Seven, any rent payable during the period of such damage, repair and/or restoration shall be reduced according to the degree, if any, to which Xxxxxx's use Tenaxx'x xse of the Property is impaired. However, the reduction shall not exceed the sum of one year's payment of rent. Except for such possible reduction in rentBase Rent, insurance premiums and real property taxes, Tenant shall not be entitled to any compensation, reduction, or reimbursement from Landlord as a result of any damage, destruction, repair, or restoration of or to the Property.

Appears in 1 contract

Samples: Industrial Real Estate Lease (Amazon Com Inc)

Temporary Reduction of Rent. If the Property is destroyed or damaged and Landlord or Tenant Lessor repairs or restores the Property pursuant to the provisions of this Article Seven, any rent payable during the period of such damage, repair and/or restoration shall be reduced according to the degree, if any, to which Xxxxxx's use Lessxx'x xse of the Property is impaired. However, the reduction shall not exceed the sum of one year's payment of rentBase Rent. Except for such possible reduction in rentBase Rent, Tenant Lessee shall not be entitled to any compensation, reduction, or reimbursement from Landlord Lessor as a result of any damage, destruction, repair, or restoration of or to the Property.

Appears in 1 contract

Samples: Industrial Gross Lease (Gildan Activewear Inc)

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Temporary Reduction of Rent. If the Property is destroyed or damaged and Landlord or Tenant repairs or restores the Property pursuant to the provisions of this Article Seven, any rent payable during the period of such damage, repair and/or restoration shall be reduced according to the degree, if any, to which Xxxxxx's use Tenaxx'x xse of the Property is impaired. However, the reduction shall not exceed the sum of one year's payment of rent. Except for such possible reduction in rent, Tenant shall not be entitled to any compensation, reduction, or reimbursement from Landlord as a result of any damage, destruction, repair, or restoration of or to the Property.

Appears in 1 contract

Samples: Industrial Real Estate Lease (Corporate Property Associates 12 Inc)

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