Common use of CESSER OF RENT Clause in Contracts

CESSER OF RENT. If during the Term the demised premises or any part thereof or all means of access thereto shall be destroyed or damaged by any of the risks against which insurance is effected pursuant to the Head Lease so as to render the demised premises or any part thereof unfit for occupation or use then (if the Tenant shall have duly carried out the Tenant's obligations under sub-clauses 3.1 and 3.2 hereof and if no insurance of the demised premises or rents payable hereunder shall have been vitiated or payment of the policy moneys refused in whole or in part by some act or default of the Tenant his servants agents or visitors) the rents hereby reserved or a fair and just proportion thereof according to the nature and extent of the damage sustained shall be suspended and cease to be payable as from the date of such destruction or damage until the demised premises shall have been rebuilt or reinstated and made fit for occupation and use and any dispute as to the extent proportion or period of such suspension shall be determined by a single arbitrator to be appointed by the Landlord and the Tenant and in case of difference by the President for the time being of the Royal Institution of Chartered Surveyors in accordance with the provisions of the Arbitration Acts 1950 to 1979 or any statutory modification re-enactment or replacement thereof for the time being in force

CESSER OF RENT. If during In case the Term the demised premises Demised Premises or any part thereof or all means of access thereto shall at any time during the Term be destroyed or damaged by any of the risks against which insurance is effected pursuant to the Head Lease Insured Risks so as to render the demised premises or any part thereof Demised Premises unfit for occupation or and use then (if the Tenant shall have duly carried out the Tenant's obligations under sub-clauses 3.1 and 3.2 hereof and if no insurance of the demised premises or rents payable hereunder shall have been vitiated or payment of the policy moneys insurance monies shall not have been refused in whole or in part by reason solely or in part of some act or default of the Tenant his its servants agents or visitors) licensees the rents rent hereby reserved or a fair and just proportion thereof according to the nature and extent of the damage sustained shall be suspended and cease to be payable as from the date of such the damage or destruction or damage until the demised premises Demised Premises shall have been rebuilt or reinstated and made be again rendered fit for occupation and use or until the expiration of the period of loss of rent insured by the Landlord from the date whichever shall be the earlier and any dispute as regarding the said cesser of rent shall be referred to the extent proportion or period award of such suspension shall be determined by a single arbitrator Arbitrator to be appointed by in default of agreement upon the Landlord and the Tenant and in case application of difference either party by the President for the time being of the Royal Institution of Chartered Surveyors in accordance with the provisions of the Arbitration Acts 1950 to 1979 1996 or any statutory modification re-enactment or replacement thereof for the time being in forceforce Provided always that under no circumstances shall the amount of rent which ceases to be payable hereunder exceed the amount received by the Landlord in respect of loss of rent under the policy referred to in Clause 5.2 hereunder

CESSER OF RENT. If during In case the Term the demised premises Demised Premises or any part thereof or all means of access thereto shall at any time during the Term be destroyed or damaged by any of the risks against which insurance is effected pursuant to Insured Risks so that the Head Lease so as to render the demised premises Demised Premises or any part thereof are unfit for occupation and use and the policy or use then (if the Tenant policies of insurance shall have duly carried out the Tenant's obligations under sub-clauses 3.1 and 3.2 hereof and if no insurance of the demised premises or rents payable hereunder shall not have been vitiated or payment of the policy moneys monies refused in whole or in part by in consequence of some act or default of the Tenant his or the Tenant’s servants or agents or visitors) anyone in the rents hereby control of the Tenant the rent first and thirdly hereinbefore reserved or a fair and just proportion thereof according to the nature and extent of the damage sustained shall be suspended and cease to be payable as from the date of such destruction or damage until the demised premises Demised Premises or the relevant part thereof shall have been rebuilt or reinstated and made be again rendered fit for occupation and use or until the expiration of three years from the date of the damage or destruction whichever shall be the earlier and any dispute as regarding the said cesser of rent shall be referred to the extent proportion or period award of such suspension shall be determined by a single arbitrator Arbitrator to be appointed by in default of agreement upon the Landlord and the Tenant and in case application of difference either party by the President for the time being of the Royal Institution of Chartered Surveyors in accordance with the provisions of the Arbitration Acts Act 1950 to 1979 or any statutory modification re-enactment or replacement thereof for the time being in forceforce PROVIDED AL WAYS that under no circumstances shall the amount of rent which ceases to be payable hereunder exceed the amount received by the Landlord in respect of loss of rent under the Policy referred to in Clause 4(2) hereof Provided that the Landlord has complied with its obligations as to insurance hereunder