Reduction of Rent. When the Object and any part thereof is damaged or the Object becomes unfit for use or lease due to fire, severe weather, act of God, force majeure or other events not directly or indirectly caused by acts or faults of the Lessee (in this case, the Lessee shall timely notify the Lessor in writing), upon consensus between the parties, the Lessee may stop paying rent and property management fees in respect of the part of the Object damaged, until the Object is repaired and restored. When economically unreasonable and impractical, the Lessor has no obligation to repair or rehabilitate the Object; or, if the entire Object or the substantial part of the Object is destroyed or unfit for reuse and lease, in both cases, the parties hereto shall be entitled to terminate the Lease by giving to the other party a written notice, without prejudice to the rights and compensation available to either party in respect of any prior claim or violation of the Lease, or rights and compensation available to the Lessor in respect of rent, property management fees and other expenses payable hereunder accrued before the effectiveness of termination. In such case, the Lessor shall return the deposit for the premises.
Reduction of Rent. If clause 23.2 applies, a fair proportion of the Annual Rent and Outgoings will cease to be payable with effect from the date of the damage until the completion of the reinstatement. In calculating the amount of the rent reduction, the parties will take into account:
Reduction of Rent. Upon removal of a Property Location pursuant to Section 14.03 above, the Base Rent shall be reduced by the amount as determined in accordance with Exhibit B.
Reduction of Rent. If (a) after any repair, restoration or rebuilding required to be undertaken by Lessor as a result of a Casualty or Minor Condemnation or (b) as a result of Lessor’s or Lessee’s termination of this Lease as a result of a Casualty, there is a permanent reduction in the rentable square feet of the Property available to or occupied by Lessee, then the Base Rent shall be proportionately reduced from the date of determination of such permanent reduction through the end of the Lease Term. The proportionate reduction shall be computed on the basis that the rentable square feet of the Property from time to time available to Lessee after the Casualty or Minor Condemnation or partial termination of this Lease bears to the aggregate rentable square feet of the Property prior to the Casualty or Minor Condemnation or partial termination of this Lease. Any reduction in Rent shall become effective as of the determination of such permanent reduction. To the extent Lessee shall have paid any Base Rent for any period after such determination of permanent reduction in an amount which did not take into account the applicable reduction in Base Rent pursuant to this Section 13.1, Lessor shall remit the excess payment to Lessee and if Lessor does not pay Lessee the amount thereof, Lessee may offset such amount, together with interest thereon at the Prime Rate, against future Rent payments due hereunder.
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 Base Rent payable during the period commencing as of the date of the casualty and continuing for the period of time, as determined by Landlord, required for Tenant and Landlord to complete the repairs described in this Article Seven, due to 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 as of the date of the casualty as determined by Landlord. If any casualty is the result of the fault or negligence of Tenant or any of Tenant's agents, employees or invitees, the Base Rent hereunder shall not be diminished during the repair of such damage. Except for such possible reduction in Base Rent, Tenant shall not be entitled to any abatement, compensation, reduction, or reimbursement from Landlord as a result of any damage, destruction, repair, or restoration of or to the Premises. In the event this Lease is terminated pursuant to this Article Seven, such termination shall be effective as of the date of the casualty.
Reduction of Rent. If Landlord or Tenant does not so terminate, this Lease shall remain in effect as to such remainder, except that the Rent shall be reduced in the proportion that the rentable floor area taken bears to the original rentable total floor area. However, if circumstances make abatement based on floor area unreasonable, the Rent shall xxxxx by a reasonable amount to be determined by Landlord. In the event that neither Landlord nor Tenant elects to terminate this Lease, Landlord's responsibility to restore the remainder of the Premises shall be limited to the amount of any condemnation award allocable to the Premises, as determined by Landlord.
Reduction of Rent. If after any repair, restoration or rebuilding required to be undertaken by Lessor as a result of a Casualty or Minor Condemnation there is a permanent reduction in the rentable square feet of the Building located on the Property available to or occupied by Lessee, then the Base Rent shall be proportionately reduced from the date of determination of such permanent reduction through the end of the Lease Term. The proportionate reduction shall be computed on, as applicable, (i) the basis that the rentable square feet of the Building from time to time available to Lessee after the Casualty or Minor Condemnation bears to the aggregate rentable square feet of the Building prior to the Casualty or Minor Condemnation. Any reduction in Rent shall become effective as of the determination of such permanent reduction. To the extent Lessee shall have paid any Base Rent for any period after such determination of permanent reduction in an amount which did not take into account the applicable reduction in Base Rent pursuant to this Section 13.1, Lessor shall remit the excess payment to Lessee within thirty (30) Business Days.
Reduction of Rent. In consideration of payment by Tenant to Donaxx X. Xxxxx, x retired employee of Ulrixx'x Xxxks, Inc., Tenant's successor in interest, of the sum of $140.00 per month commencing August 1, 1980, for a period of ten (10) years, or until the death of the survivor of Donaxx X. Xxxxx xxx his wife, whichever event occurs first, Landlord does hereby reduce the monthly rental provided for in this Lease by the sum of $140.00 per month, continuing from August 1, 1980 for ten (10) years, or until the death of the survivor of Donaxx X. Xxxxx xxx his wife, whichever event occurs first.
Reduction of Rent. In the event of a Partial Taking, each installment of rent commencing with the first rent payment date following the Date of Taking shall be reduced by an amount representing the product of the number of acres taken multiplied by the current rent payable per acre.
Reduction of Rent. If, during the term of this Lease, title and possession of only a portion of the Property is taken under the power of eminent domain by any public or quasi-public agency or entity and Lessee does not or cannot terminate this Lease, then this Lease shall terminate as to the portion of said Property taken under eminent domain. The rent payable under this Lease shall, as of that time, be reduced by an amount equal to a fraction, the numerator of which shall be the fair market value of the Property after the taking and the denominator of which shall be the fair market value of the Property immediately before the taking, multiplied by the rent then in effect
