Common use of No Reduction of Rent Clause in Contracts

No Reduction of Rent. Notwithstanding any other provision of this Lease, (a) if for any reason any Rent or any other sums payable to Lessor by Lessee hereunder (in this Section called the "Rentals") shall be diminished or subject to diminution to attachment, claim, lien, levy, process or other cause or will be subject to withholding or diminution at the source by reason of any income or other taxes, assessments, expenses, indebtedness, obligations or liabilities of any character incurred by or against any person or by reason of any claims, demands, charges or liens of any nature incurred by any person or against the Rentals, or (b) if the payment of the Rentals when due and payable will be delayed, prevented or adversely affected, or (c) if the use or application of the Rentals by the First Lien Noteholder pursuant to any provision of the First Lien Deed of Trust will be delayed or prevented or the right of the First Lien Noteholder so to use or apply the same will be adversely affected, or (d) if the First Lien Noteholder reasonably refuses so to use or apply the Rentals because of its determination that liability might be incurred if such use or application were to be made, or (e) if the First Lien Noteholder will be subject to any liability or obligation to refund or pay over the Rentals, then at the request of the First Lien Noteholder, Lessee will pay promptly as additional rent, and take any action and incur any expense that may be necessary for the proper application of, sums of money sufficient fully to pay and discharge the Rentals and to eliminate or nullify the cause of such attachment, claim, lien, levy, order, process, withholding or diminution and to eliminate or prevent any delay or obstacle in the payment of the Rentals when due and payable and in the use or application thereof by the First Lien Noteholder, and to protect the right of the First Lien Noteholder to use or apply the Rentals and will pay and indemnify the First Lien Noteholder against any liability which may arise from so using or applying the Rentals, and against any liability or obligation to repay, or any loss in repaying, any monies received from Lessee. It is the intention of the parties that the Rent will be received and enjoyed by Lessor or the First Lien Noteholder, as the case may be, as an absolute net sum, and will be available in full for application to the payment of principal of, and premium and interest on, indebtedness secured by the First Lien Deed of Trust when due.

Appears in 2 contracts

Sources: Lease Agreement (Celebrity Inc), Lease Agreement (Celebrity Inc)