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. 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 Premises.

Appears in 1 contract

Sources: Office Lease (Insys Therapeutics, Inc.)

Temporary Reduction of Rent. If the Premises Property is destroyed or damaged and Landlord or Tenant repairs or restores the Premises 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 's use of the Premises Property is impaired. However, the reduction shall reduct▇▇▇ ▇▇all not exceed the sum of one year’s 's payment of Base Rent, insurance premiums and Real Property Taxesreal property taxes. Except for such possible reduction in Base Rent, insurance premiums and Real Property Taxesreal 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 PremisesProperty.

Appears in 1 contract

Sources: Industrial Real Estate Lease (Arterial Vascular Engineering Inc)

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 's use of the Premises is impaired. However, the reduction shall not exceed the sum of one year’s 's payment of Base Rent, insurance premiums Insurance Premiums and Real Property Taxes. Except for such possible reduction in Base Rent, insurance premiums 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

Sources: Industrial Lease (D & K Healthcare Resources Inc)

Temporary Reduction of Rent. If the Premises or Property is destroyed or damaged and Landlord or Tenant repairs or restores the Premises pursuant to the provisions of this Article Seven, 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 or Property is impaired. However, the reduction shall not exceed the sum of one year’s 's payment of Base Monthly Rent and Additional Rent, insurance premiums and Real Property Taxes. Except for such possible reduction in Base Monthly Rent and Additional 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 PremisesPremises or Property.

Appears in 1 contract

Sources: Lease Agreement (Hydro Environmental Resources Inc)

Temporary Reduction of Rent. If the Premises Property is destroyed or damaged and Landlord or Tenant repairs or restores the Premises 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 ill any, to which Tenant’s use Tena▇▇'▇ ▇se of the Premises Property is impaired. However, the reduction shall not exceed the sum of one year’s 's payment of Base Rent, insurance premiums and Real Property Taxesreal property taxes. Except for such possible reduction in Base Rent, insurance premiums and Real Property Taxesreal 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 PremisesProperty.

Appears in 1 contract

Sources: Lease Agreement (Seamed Corp)