Common use of Tenant’s Right to Offset Rent Clause in Contracts

Tenant’s Right to Offset Rent. Tenant shall have the right to offset against Rent otherwise payable by Tenant pursuant to the Lease for the following limited purposes: (i) Any excess amounts prepaid by Tenant for Operating Costs and Real Property Taxes based on Landlord’s estimate, and Tenant’s monthly estimated installment payment, provided, such overpayment may be credited against Tenant’s next accruing Operating Cost and Real Property Tax obligations only (and not Base Rent), and provided Landlord has not timely paid such amount to Tenant pursuant to the terms of this Lease after notice and opportunity to cure; and (ii) Any allowance or credit to which Tenant is entitled pursuant to this Lease that is not timely paid by Landlord after twenty (20) days notice and opportunity to cure. (iii) If Landlord does not pay the Tenant Improvement Allowance in accordance with the terms set forth in the Work Agreement.