Common use of Temporary Reduction of Rent Clause in Contracts

Temporary Reduction of Rent. If the Property is destroyed or damaged, 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 Property is impaired. Except for such possible reduction in rent, including but not limited to Base Rent, insurance premiums, Real Property Tax and management fee, 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 Property.

Appears in 2 contracts

Samples: Lease Agreement (Genesis Direct Inc), Lease Agreement (Genesis Direct Inc)

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Temporary Reduction of Rent. If the Property is destroyed or damageddamaged and Landlord or Tenant repairs or restores Property pursuant to the provisions of this Article 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 Property is impaired. Except for such possible reduction in rent, including but not limited to Base Rent, insurance premiums, Real Property Tax and management fee, 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 Property.

Appears in 1 contract

Samples: Industrial Real Estate Lease (Maxwell Laboratories Inc /De/)

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Temporary Reduction of Rent. If the Property is destroyed or damageddamaged and Landlord or Tenant repairs or restores the Property, any rent payable during the period of such damage, repair and/or restoration shall be abated or reduced according to from the degree, if any, to which Tenant's use date of the damage in the same ratio that the portion of the Property is impaired. Except rendered for such possible reduction in rent, including but not limited to Base Rent, insurance premiums, Real Property Tax and management fee, Tenant the time being unfit for occupancy shall not be entitled to any compensation, reduction, or reimbursement from Landlord as a result of any damage, destruction, repair, or restoration of or bear to the entire Property.

Appears in 1 contract

Samples: Commercial Real Estate Lease (Coastal Financial Corp)

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