Common use of Temporary Reduction of Rent Clause in Contracts

Temporary Reduction of Rent. If the Leased Premises is destroyed or damaged and Landlord or Tenant repairs or restores the Leased Premises pursuant to the provisions of this Lease, any rent payable during the period of such damage, repair and/or restoration shall be reduced according to the degree, if any, to which Tenant’s use of the Leased Premises is impaired. However, the reduction shall not exceed the sum of one year’s payment of Base Rent, Insurance premiums and real property taxes. Except for such possible reduction in Base 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 Leased Premises.

Appears in 2 contracts

Samples: Commercial Lease Agreement, Lease Agreement (Icop Digital, Inc)

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Temporary Reduction of Rent. If the Leased Premises is Property shall be destroyed or damaged by casualty and Landlord shall determine to repair or Tenant repairs or restores restore the Leased Premises Property pursuant to the provisions of this LeaseArticle Eleven, any rent Rent payable during the period of such damage, repair and/or restoration shall be reduced according to the degree, if any, to which Tenant’s use of the Leased Premises is shall be impaired. However, the Such reduction shall not exceed the sum of one year’s payment of Base Rent, Insurance insurance premiums and real property taxesReal Property Taxes. Except for such possible reduction in Base Rent, insurance premiums and real property taxesReal Property Taxes, Tenant shall not be entitled to any compensation, reduction, reduction or reimbursement from Landlord as a result of any damage, destruction, repair, or restoration of or to the Leased PremisesProperty.

Appears in 2 contracts

Samples: Industrial Real Estate Lease (Spinal Elements Holdings, Inc.), Industrial Real Estate Lease (Aspen Aerogels Inc)

Temporary Reduction of Rent. If the Leased Premises Property is destroyed or damaged and Landlord or Tenant repairs or restores the Leased Premises Property pursuant to the provisions of this LeaseArticle 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 Tenant’s use Tenaxx'x xse of the Leased Premises Property is impaired. However, the reduction shall not exceed the sum of one year’s 's payment of Base Rent, Insurance insurance premiums and real property taxestaxes if Tenant is doing the Repair. Except for such possible reduction in Base 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 Leased PremisesProperty for which Landlord is not otherwise responsible.

Appears in 1 contract

Samples: Industrial Real Estate Lease (Viasat Inc)

Temporary Reduction of Rent. If the Leased Premises Property is destroyed or damaged and Landlord or Tenant repairs or restores the Leased Premises Property pursuant to the provisions of this LeaseArticle 7, any rent payable during the period of such damage, repair and/or restoration shall be reduced according to the degree, if any, to which Tenant’s use Landlord receives the proceeds of the Leased Premises is impairedrental continuation insurance covering such period of time. However, the reduction shall not exceed the sum of one year’s 's payment of Base Rent, Insurance insurance premiums and real property taxes. Except for such possible reduction in Base 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 Leased PremisesProperty.

Appears in 1 contract

Samples: Industrial Real Estate Lease (Obagi Medical Products, Inc.)

Temporary Reduction of Rent. If the Leased Premises Property is destroyed or damaged and Landlord or Tenant repairs or restores the Leased Premises Property pursuant to the provisions of this LeaseArticle 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 Tenant’s use Landlord receives the proceeds of the Leased Premises is impairedrental continuation insurance covering such period of time. However, the reduction shall not exceed the sum of one year’s 's payment of Base Rent, Insurance insurance premiums and real property taxes. Except for such possible reduction in Base 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 Leased PremisesProperty.

Appears in 1 contract

Samples: Industrial Real Estate Lease (Xylan Corp)

Temporary Reduction of Rent. If the Leased Premises Property is partially, substantially or totally destroyed or damaged and Landlord or Tenant repairs or restores the Leased Premises Property pursuant to the provisions of this LeaseArticle 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 Tenant’s 's use of the Leased Premises Property is impaired. However, the reduction shall not exceed the sum of one year’s 's payment of Base Rent, Insurance insurance premiums and real property taxes. Except for such possible reduction in Base 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 Leased PremisesProperty.

Appears in 1 contract

Samples: Lease Agreement (Pc Mall Inc)

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Temporary Reduction of Rent. If the Leased Premises Property is destroyed or damaged and Landlord or Tenant repairs or restores the Leased Premises Property pursuant to the provisions of this LeaseARTICLE 7, any rent payable during the period of such damage, repair and/or restoration shall be reduced according to the degree, if any, to which Tenant’s use Landlord receives the proceeds of the Leased Premises is impairedrental continuation insurance covering such period of time. However, the reduction shall not exceed the sum of one year’s payment of Base Rent, Insurance insurance premiums and real property taxes. Except for such possible reduction in Base 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 Leased PremisesProperty.

Appears in 1 contract

Samples: Industrial Real Estate Lease (Qualstar Corp)

Temporary Reduction of Rent. If the Leased Premises Property is destroyed or damaged and Landlord or Tenant repairs or restores the Leased Premises Property pursuant to the provisions of this LeaseArticle 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 Tenant’s use of the Leased Premises Property is impaired. However, the reduction shall not exceed the sum amount of one year’s payment Insurance proceeds payable to Landlord by its insurance carrier to replace the loss of Base Rent, Insurance premiums insurance proceeds and real property estate taxes. Except for such possible reduction in Base 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 Leased PremisesProperty.

Appears in 1 contract

Samples: Purchase and Sale Agreement (SP Holding CORP)

Temporary Reduction of Rent. If the Leased Premises is shall be destroyed or damaged by casualty and Landlord shall determine to repair or Tenant repairs or restores restore the Leased Premises pursuant to the provisions of this LeaseArticle Eleven, any rent Rent payable during the period of such damage, repair and/or restoration shall be reduced according to the degree, if any, to which Tenant’s 's use of the Leased Premises is shall be impaired. However, the Such reduction shall not exceed the sum of one year’s 's payment of Base Rent, Insurance insurance premiums and real property taxesReal Property Taxes. Except for such possible reduction in Base Rent, insurance premiums and real property taxes, Real Property Taxes. Tenant shall not be entitled to any compensation, reduction, reduction or reimbursement from Landlord as a result of any damage, destruction, repair, or restoration of or to the Leased Premises.

Appears in 1 contract

Samples: Lease Agreement (Petco Animal Supplies Inc)

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