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 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 Premises is impaired. 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 Premises.

Appears in 1 contract

Samples: Office Lease (VectoIQ Acquisition Corp.)

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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 SevenXVII, 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 is impaired, as reasonably determined by Landlord. 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 Premises.

Appears in 1 contract

Samples: Lease Agreement (Central Coast Bancorp)

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 SevenXII, any rent payable during the period of such damage, repair and/or restoration shall be reduced according to based on the degree, if any, extent to which the destruction interferes with Tenant’s 's use of the Premises is impairedPremises. Except for such possible reduction in Base Rent, insurance premiums and Real Property Taxespayments required from the Tenant, 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.

Appears in 1 contract

Samples: Lease (Community Bancorp Inc)

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Temporary Reduction of Rent. If the Premises is destroyed totally or damaged and Landlord substantially destroyed, or Tenant repairs or restores if the Premises is damaged through no fault of Tenant, and the Premises is repaired pursuant to the provisions of this Article SevenPARAGRAPH 18, 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 is impaired. Except for such possible reduction in Base Rent, insurance premiums and Real Property Taxes, Tenant shall not be entitled to any other 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: Standard Industrial Lease Agreement (D & K Healthcare Resources Inc)

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