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: Warehouse Space Lease Agreement (Excal Enterprises Inc), Warehouse 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 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.)

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: Lease (Cuisine Solutions Inc)

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