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 Article 6, the Base Rent payable during the period of such damage, repair and/or restoration shall be reduced according to the percentage of the Leased Premises that is rendered wholly untenantable. Except for such possible reduction in Base 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 Leased Premises, Building or Property.

Appears in 2 contracts

Samples: Space Lease Agreement (Excal Enterprises Inc), Space Lease Agreement (Excal Enterprises Inc)

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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 Article 67, the Base Rent any rent payable during the period of such damage, repair and/or restoration shall be reduced according to the percentage degree, if any, to which Tenant’s use of the Leased Premises that is rendered wholly untenantableimpaired. However, the reduction shall not exceed the sum of one (1) year’s payment of Base Rent and Additional Rent. Except for such possible reduction in Base Rent and Additional Rent, Tenant shall not be entitled to any compensation, reduction, reduction or reimbursement from Landlord as a result of any damage, destruction, repair, repair or restoration of or to the Leased Premises, Building or Property.

Appears in 1 contract

Samples: Industrial Real Estate Lease (Dynamic Health Products Inc)

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 Article 6Seven, the any Base Rent payable during the period of such damage, repair and/or restoration shall be proportionately reduced according to the percentage square footage of the Leased Premises that is rendered wholly untenantablenot able to be used. Except for such possible reduction in Base 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 Leased Premises, Building or Property.

Appears in 1 contract

Samples: Lease Agreement (iPower Inc.)

Temporary Reduction of Rent. If the Leased Premises is are destroyed or damaged and Landlord or Tenant repairs or restores the Leased Premises pursuant to the provisions of this Article 6, the Base Rent payable during the period of such damage, repair and/or restoration shall be reduced according to the percentage of the Leased Premises that is rendered wholly untenantableuntenantable or unsuitable, in the reasonable business judgment of both Landlord and Tenant. Except for such possible reduction in Base RentRent or except as otherwise specifically provided in this Lease, 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, Building or PropertyProperty (except as may otherwise be permitted hereunder).

Appears in 1 contract

Samples: Warehouse Space Lease Agreement (Body Central Corp)

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Temporary Reduction of Rent. If the Leased Premises is are destroyed or damaged and Landlord or Tenant repairs or restores the Leased Premises pursuant to the provisions of this Article 6Five, the Base Rent any rent payable during the period of such damage, repair and/or restoration shall be reduced according to the percentage degree, if any, to which Tenant’s use of the Leased Premises that is rendered wholly untenantableimpaired. However, the reduction shall not exceed the sum of one year’s payment of Base Rent and Additional Rent. Except for such possible reduction in Base Rent and Additional 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 Leased Premises, Building or Property.

Appears in 1 contract

Samples: Security Agreement (Cuisine Solutions Inc)

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 Article 6Seven, the Base Rent any rent payable during the period of such damage, repair and/or restoration shall be reduced according to the percentage degree, if any, to which Tenant’s use of the Leased Premises that is rendered wholly untenantableimpaired. 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, Building or Property.

Appears in 1 contract

Samples: Office Lease (VectoIQ Acquisition Corp.)

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