Common use of Temporary Reduction of Rent Clause in Contracts

Temporary Reduction of Rent. If the Premises is destroyed or damaged and Landlord or Tenant repairs or restores the Premises pursuant to the provisions of this Article 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 of the Premises is impaired. 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 or reimbursement from Landlord as a result of any damage, destruction, repair or restoration of or to the Premises.

Appears in 1 contract

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

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Temporary Reduction of Rent. If the Premises Property is destroyed or damaged through no fault of the Tenant, its servants or agents, and Landlord or Tenant repairs or restores the Premises Property pursuant to the provisions of this Article 7, 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 Premises Property is impaired. However, the reduction shall not exceed the sum of one (1) year’s payment of Base Rent and Additional Rent, which would otherwise be due and owing for the balance of the Lease Term, including any renewal term. Except for such possible reduction in Base Rent 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 PremisesProperty.

Appears in 1 contract

Samples: Lease Agreement (Bayou Steel Corp)

Temporary Reduction of Rent. If the Premises is destroyed or damaged and Landlord or Tenant repairs or restores the Premises pursuant to the provisions of this Article 7Seven, 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 Premises is impaired. However, the reduction shall not exceed the sum of one (1) year’s 's payment of Base Rent Rent, Insurance Premiums and Additional RentReal Property Taxes. Except for such possible reduction in Base Rent Rent, Insurance Premiums and Additional RentReal Property Taxes, 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 Premises.

Appears in 1 contract

Samples: Industrial Lease (D & K Healthcare Resources Inc)

Temporary Reduction of Rent. If the Premises or Property is destroyed or damaged and Landlord or Tenant repairs or restores the Premises pursuant to the provisions of this Article 7Seven, 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 Premises or Property is impaired. However, the reduction shall not exceed the sum of one (1) year’s 's payment of Base Monthly Rent and Additional Rent. Except for such possible reduction in Base Monthly 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 PremisesPremises or Property.

Appears in 1 contract

Samples: Lease Agreement (Hydro Environmental Resources Inc)

Temporary Reduction of Rent. If the Premises Property is destroyed or damaged and Landlord or Tenant repairs or restores the Premises Property pursuant to the provisions of this Article 7Seven, any rent Base Rent and recurring Additional 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 Premises Property is impaired. However, the reduction shall not exceed the sum of one (1) year’s payment of Base Rent Rent, and recurring Additional Rent. Except for such possible reduction in Base Rent and recurring 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 PremisesProperty.

Appears in 1 contract

Samples: Industrial Lease (Switch, Inc.)

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Temporary Reduction of Rent. If the Premises is destroyed or damaged and Landlord or Tenant repairs or restores the Premises pursuant to the provisions of this Article 7Seven, 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 Premises is impaired. However, the reduction shall not exceed the sum of one (1) year’s payment of Base Rent Rent, insurance premiums and Additional RentReal Property Taxes. Except for such possible reduction in Base Rent Rent, insurance premiums and Additional RentReal Property Taxes, 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 Premises.

Appears in 1 contract

Samples: Office Lease (Insys Therapeutics, Inc.)

Temporary Reduction of Rent. If the Premises is destroyed are made untenantable in whole or damaged and Landlord in part by fire or Tenant repairs or restores by other casualty insured against by policies of insurance carried by the Premises pursuant to the provisions of this Article 7Landlord, any rent payable during the period of such damage, repair and/or restoration as Basic Monthly Rent or Additional Rent shall be reduced according in proportion to the degree, if any, to which Tenant’s use part of the Premises which is impaired. Howeverunusable by the Tenant, as determined by Tenant, until repairs can be made or the reduction Lease terminated as provided herein provided that Landlord shall not exceed be entitled to that portion of Tenant’s business interruption insurance which covers the sum of one (1) year’s payment of Base Rent and Additional Rentpayable hereunder. 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 or restoration of or to the Premises.

Appears in 1 contract

Samples: Industrial Real Estate Lease (Pacira Pharmaceuticals, Inc.)

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