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 XIII, any rent payable during the period of such damage, repair and/or restoration shall be reduced by the amount payable under any rental income insurance paid to Landlord. Except for such possible reduction in payments required from the Tenant, Tenant shall not be entitled to ally compensation, 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 (Bank Holdings)

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Temporary Reduction of Rent. If the Premises is shall be destroyed or damaged by casualty and Landlord shall determine to repair or Tenant repairs or restores restore the Premises pursuant to the provisions of this Article XIIIEleven, any rent Rent payable during the period of such damage, repair and/or restoration shall be reduced by according to the amount payable under any rental income insurance paid degree, if any, to Landlordwhich Tenant's use of the Premises shall be impaired. Except for such possible Such reduction in payments required from the Tenant, Tenant shall not be entitled to ally compensationexceed the sum of one year's payment of Base Rent, reduction, or reimbursement from Landlord as a result of any damage, destruction, repair, or restoration of or to the leased Premises.insurance premiums and Real Property

Appears in 1 contract

Samples: Industrial Real Estate Lease (Petco Animal Supplies Inc)

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 XIII, any rent payable during the period of such damage, repair and/or restoration shall be reduced by the amount payable under any rental income insurance paid to Landlord. Except for such possible reduction in payments required from the Tenant, Tenant shall not be entitled to ally 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 1 contract

Samples: Standard Shopping Center Lease (California Independent Bancorp)

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 XIIISeven, any rent Base Rent payable during the period of such damage, repair and/or restoration shall be proportionately reduced by according to the amount payable under any rental income insurance paid square footage of the Premises that is not able to Landlordbe used. Except for such possible reduction in payments required from the TenantBase Rent, Tenant shall not be entitled to ally 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 1 contract

Samples: Lease Agreement (iPower Inc.)

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Temporary Reduction of Rent. If the Premises is are destroyed or damaged and Landlord or Tenant repairs or restores the Premises pursuant to the provisions of this Article XIIIArticle, any rent Rent payable during the period of such damage, repair and/or restoration shall be reduced by the amount payable paid to Landlord under any business interruption insurance and/or rental income insurance paid to Landlordinterruption insurance. Except for such possible reduction in payments required from the Tenant, Tenant shall not be entitled to ally 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.

Appears in 1 contract

Samples: Office Lease (First Virtual Holding Inc)

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