Common use of Temporary Reduction of Rent Clause in Contracts

Temporary Reduction of Rent. If the PREMISES are damaged or destroyed, any BASE RENT and ADDITIONAL RENT payable during the period of such damage, repair and/or restoration (including a reasonable time for TENANT to reopen the PREMISES) shall be reduced in proportion to the amount of square footage damaged, destroyed or otherwise rendered unusable for TENANT’s use. In the event that, in TENANT’s reasonable business judgement, it is impossible or impractical to operate its business in the PREMISES in the ordinary course in that portion of the PREMISES not so damaged or destroyed, then all BASE RENT and ADDITIONAL RENT shall xxxxx until the PREMISES have been repaired and restored. ARTICLE EIGHT

Appears in 10 contracts

Samples: Lease (99 Cents Only Stores), Lease (99 Cents Only Stores), Lease (99 Cents Only Stores)

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Temporary Reduction of Rent. If the PREMISES or the COMMON AREAS are damaged or destroyed, any BASE RENT and ADDITIONAL RENT payable during the period of such damage, repair and/or restoration (including a reasonable time for TENANT to reopen the PREMISES) shall be reduced in proportion to the amount of square footage damaged, destroyed or otherwise rendered unusable for TENANT’s use. In the event that, in TENANT’s reasonable business judgement, it is impossible or impractical to operate its business in the PREMISES in the ordinary course in that portion of the PREMISES not so damaged or destroyed, then all BASE RENT and ADDITIONAL RENT shall xxxxx until the PREMISES and the COMMON AREAS have been repaired and restored. ARTICLE EIGHT.

Appears in 3 contracts

Samples: Lease (99 Cents Only Stores), Lease (99 Cents Only Stores), Lease (99 Cents Only Stores)

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Temporary Reduction of Rent. If the PREMISES are damaged or destroyed, any BASE RENT and ADDITIONAL RENT payable during the period of such damage, repair and/or restoration (including a reasonable time for TENANT to reopen the PREMISES) shall be reduced in proportion to the amount of square footage damaged, destroyed or otherwise rendered unusable for TENANT’s use. In the event that, in TENANT’s reasonable business judgement, it is impossible or impractical to operate its business in the PREMISES in the ordinary course in that portion of the PREMISES not so damaged or destroyed, then all BASE RENT and ADDITIONAL RENT shall xxxxx until the PREMISES have been repaired and restored. ARTICLE EIGHT.

Appears in 1 contract

Samples: Lease (99 Cents Only Stores)

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