Temporary Abatement of Rent Clause Samples

The Temporary Abatement of Rent clause allows for a suspension or reduction of rent payments under specific circumstances, such as when leased premises become unusable due to damage or necessary repairs. In practice, this clause typically outlines the conditions that trigger the abatement, the duration for which rent is reduced or suspended, and any obligations the tenant or landlord must fulfill during this period. Its core function is to fairly allocate risk and financial responsibility between landlord and tenant when unforeseen events temporarily prevent normal use of the property.
Temporary Abatement of Rent. In the event of repair, reconstruction and restoration by Landlord as herein provided, the Rent payable pursuant to this Lease shall be abated proportionately with the degree to which Tenant’s use of the Premises is impaired during the period of such repair, reconstruction or restoration; provided that there shall be no abatement of Rent if such damage is the result of Tenant’s negligence or intentional wrongdoing: Tenant shall not be entitled to any compensation or damages for loss in the use of the whole or any part of the Premises and/or any inconvenience or annoyance occasioned by such damage, repair, reconstruction or restoration.
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Temporary Abatement of Rent. Subject to the terms and conditions set forth in this letter amendment, Performance Based Rent (“Rent”), which such Rent is in addition to the Taxicab Trip Fees charged under the Concession Agreement No. LAA-8562 between Lessee and the City, shall be One Dollar ($1) from July 1,2020 through July 30, 2020 per Taxicab Trip, from August through to December 31, 2020, Rent shall be One Dollar twenty-five cents ($1.25) per Taxicab Trip, and from January 1, 2021 through to end ofthe term ofthe Agreement, Rent shall be One Dollar, fifty cents ($ 1.50) per Taxicab Trip. Such Rent payable for the Duration Period shall be paid by Lessee pursuant to the current payment schedule in the Agreement. During the Duration Period, Lessee shall not be required to remit payment for Land Area Rent for Commercial and Auto Parking. Monthly Base Rent shall be abated until and upon the first month during the term of this 2nd Letter that Taxicab Trips reach Forty-Thousand (40,000) Taxicab Trips or more, at such instance Monthly Base Rent shall resume and be payable in the amount of Fifty-eight Thousand, Eight Hundred Seventy-five Dollars ($58,875) (for example, if hsi--1 September , 2020 Page 2 in February 2021, the number of Taxicab Trips are 42,999, $58,875 shall be due for the month of February and all months following until the end of the term of the Agreement).
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Temporary Abatement of Rent. Subject to the terms and conditions set forth in this letter amendment, the Monthly Base Rent for a four (4) month period beginning on March 1, 2020 and ending on June 30, 2020 (the “Duration Period”) is hereby abated. For the Duration Period, Lessee shall pay a Performance Based Rent (“Rent”) based on one dollar ($1.00) per Taxicab Trip. This Rent is in addition to the Taxicab Trip Fees charged under the Concession Agreement No. LAA-8562 between Lessee and City. Such Rent payable for the Duration Period shall be paid by Lessee pursuant to the current payment schedule in the Agreement. During the Duration Period, Lessee shall not be required to remit payment for Land Area Rent for Commercial and Auto Parking.
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Temporary Abatement of Rent. If the Property is destroyed or damaged and Landlord or Tenant repairs or restores the Property pursuant to the provisions of this ARTICLE 7:, 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 or access to the Property, including the parking areas, is impaired. Except for such possible reduction in Base Rent and Additional Rent, 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.
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Temporary Abatement of Rent. Landlord and Tenant acknowledge and agree that as of the date hereof the entire Premises is not ready for use and occupancy by Tenant due to in part to the completion of necessary improvements and repairs and in part to the fact that certain other tenants ("Third Party Tenants") continue to occupy space within the Demised Premises. Therefore, in order to reasonably accommodate both Landlord and Tenant, the parties agree to work cooperatively during the balance of the calendar year 2001 to enable Landlord to remove the remaining Third Party Tenants in a manner designed to minimize cost and expense and to allow Tenant to take over and pay for the additional space in the Demised Premises as that space is actually used by Tenant, all subject to the mutual understanding that no later then December 31, 2001 all Third Party Tenants shall have been removed by Landlord and Tenant shall commence paying rent on all the 39,485.6 usable square feet comprising the Demised Premises pursuant to rent rate set forth in Paragraph 3.01 hereof. Notwithstanding anything in Paragraph 3.01 to the contrary, however, until the earlier of December 31, 2001 or the date upon which Tenant is occupying all 39,485.6 square feet, Tenant shall pay monthly rent in accordance with this Paragraph 19. Effective as of the date hereof, Tenant shall continue to pay monthly gross rent at an annual gross rent rate of $5.38 per square foot on all space actually used by Tenant (currently 35,644.4 square feet) (including any area under renovation by Tenant). Each month until the Demised Premises is fully occupied by Tenant, Landlord shall submit a statement setting forth the square footage occupied by Tenant upon which footage the $5.38 is to be paid. Landlord shall continue to pay all operating expenses, utilities, taxes and insurance on the Demised Premises until the Premises is fully occupied by Tenant and the provisions of Paragraph 3.01 with respect to the rent payment due under Paragraph 3.01 become effective as provided herein. In addition Tenant shall pay to Landlord as additional monthly rent interest (at a 9.5% annual rate) on any portion of the $600,000 of the Renovation Allowance that Landlord has advanced to pay such renovation expenses as provided for in Paragraph 4.03 hereof. The parties also agree that any Third-Party Tenants, whose leases and possessory rights in the Demised Premises have not yet been terminated, shall be terminated by Landlord upon the receipt of sixty (60) days noti...
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Related to Temporary Abatement of Rent

  • No Abatement of Rent This Agreement shall remain in full force and effect and Tenant’s obligation to make all payments of Rent and to pay all other charges as and when required under this Agreement shall remain unabated during the Term notwithstanding any damage involving the Leased Property, or any portion thereof (provided that Landlord shall credit against such payments any amounts paid to Landlord as a consequence of such damage under any business interruption insurance obtained by Tenant hereunder). The provisions of this Article 10 shall be considered an express agreement governing any cause of damage or destruction to the Leased Property, or any portion thereof, and, to the maximum extent permitted by law, no local or State statute, laws, rules, regulation or ordinance in effect during the Term which provide for such a contingency shall have any application in such case.

  • Abatement of Rent In the event that Tenant is prevented from using, and does not use, the Premises or any portion thereof, as a result of (i) any repair, maintenance or alteration performed by Landlord, or which Landlord failed to perform, after the Lease Commencement Date and required by this Lease, which substantially interferes with Tenant’s use of the Premises, or (ii) any failure to provide services, utilities or access to the Premises as required by this Lease (either such set of circumstances as set forth in items (i) or (ii), above, to be known as an “Abatement Event”), then Tenant shall give Landlord notice of such Abatement Event, and if such Abatement Event continues for five (5) consecutive business days after Landlord’s receipt of any such notice (the “Eligibility Period”), then the Base Rent, Tenant’s Share of Direct Expenses, and Tenant’s obligation to pay for parking (to the extent not utilized by Tenant) shall be abated or reduced, as the case may be, after expiration of the Eligibility Period for such time that Tenant continues to be so prevented from using, and does not use for the normal conduct of Tenant’s business, the Premises or a portion thereof; provided, however, in the event that Tenant is prevented from using, and does not use, a portion of the Premises, and as result thereof it is commercially impractical for Tenant to use all or a portion of the remaining Premises (i.e., the portion of the Premises that Tenant is actually able to use), and if Tenant does not conduct its business from the remaining Premises or portion thereof, then for such time during which it is impractical for Tenant to conduct its business therein, the Base Rent, Tenant’s Share of Direct Expenses, and Tenant’s obligation to pay for parking (to the extent not utilized by Tenant) shall also be abated for the remaining Premises (or portion thereof) that Tenant does not use. If, however, Tenant reoccupies any portion of the Premises during such period, the Base Rent, Tenant’s Share of Direct Expenses, and Tenant’s obligation to pay for parking (to the extent not utilized by Tenant) allocable to such reoccupied portion, based on the proportion that the rentable area of such reoccupied portion of the Premises bears to the total rentable area of the Premises, shall be payable by Tenant from the date Tenant reoccupies such portion of the Premises. To the extent an Abatement Event is caused by an event covered by Articles 11 or 13 of this Lease, then Tenant’s right to ▇▇▇▇▇ rent shall be governed by the terms of such Article 11 or 13, as applicable, and the Eligibility Period shall not be applicable thereto. Such right to ▇▇▇▇▇ Base Rent and Tenant’s Share of Direct Expenses shall be Tenant’s sole and exclusive remedy for rent abatement at law or in equity for an Abatement Event. Except as expressly provided in this Section 19.5.2 or elsewhere in this Lease, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.

  • Temporary Reduction of Rent If the Property is destroyed or damaged and Landlord or Tenant repairs or restores the 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. However, the reduction shall not exceed the sum of one year's payment of Base Rent, insurance premiums and real property taxes. 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 Property.

  • ABATEMENT OF RENT; LESSEE'S REMEDIES (a) In the event of (i) Premises Partial Damage or (ii) Hazardous Substance Condition for which Lessee is not legally responsible, the Base Rent, Common Area Operating Expenses and other charges, if any, payable by Lessee hereunder for the period during which such damage or condition, its repair, remediation or restoration continues, shall be abated in proportion to the degree to which Lessee's use of the Premises is impaired, but not in excess of proceeds from insurance required to be carried under Paragraph 8.3(b). Except for abatement of Base Rent, Common Area Operating Expenses and other charges, if any, as aforesaid, all other obligations of Lessee hereunder shall be performed by Lessee, and Lessee shall have no claim against Lessor for any damage suffered by reason of any such damage, destruction, repair, remediation or restoration. (b) If Lessor shall be obligated to repair or restore the Premises under the provisions of this Paragraph 9 and shall not commence, in a substantial and meaningful way, the repair or restoration of the Premises within ninety (90) days after such obligation shall accrue, Lessee may, at any time prior to the commencement of such repair or restoration, give written notice to Lessor and to any Lenders of which Lessee has actual notice of Lessee's election to terminate this Lease on a date not less than sixty (60) days following the giving of such notice. If Lessee gives such notice to Lessor and such Lenders and such repair or restoration is not commenced within thirty (30) days after receipt of such notice, this Lease shall terminate as of the date specified in said notice. If Lessor or a Lender commences the repair or restoration of the Premises within thirty (30) days after the receipt of such notice, this Lease shall continue in full force and effect. "Commence" as used in this Paragraph 9.6 shall mean either the unconditional authorization of the preparation of the required plans, or the beginning of the actual work on the Premises, whichever occurs first.

  • Rent Abatement Except for the negligence or willful act of Tenant or its agents, employees, contractors or invitees, if all or any part of the Premises are rendered untenantable by fire or other casualty and this Lease is not terminated, Monthly Base Rent and Rent Adjustments shall ▇▇▇▇▇ for that part of the Premises which is untenantable on a per diem basis from the date of the casualty until Landlord has Substantially Completed the repair and restoration work in the Premises which it is required to perform, provided, that as a result of such casualty, Tenant does not occupy the portion of the Premises which is untenantable during such period.