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 xxxxx 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.
Rent Abatement. Notwithstanding anything to the contrary contained in Section 12.4 above or elsewhere in this Lease, provided no Event of Default shall have occurred and be continuing, in the event that Tenant is unable to use all of the 1270 Space, all of the 50 Rock Space or all of the Retail Space (each, an “Affected Space”), for the conduct of Tenant’s business due solely to the failure of an Essential Service (as defined below) and (a) after Tenant furnishes a notice to Landlord (the “Abatement Notice”) stating that Tenant’s inability to use the Premises is solely due to such condition and such condition continues for a period in excess of (x) 10 consecutive days if the failure to provide such Essential Service results from a circumstance within Landlord’s control or (y) 20 consecutive days if the failure to provide such Essential Service results from an Unavoidable Delay, (b) Tenant does not actually use or occupy the entire Affected Space during such period and (c) such condition has not resulted from the negligence or willful misconduct of Tenant or any Tenant Party, then Fixed Rent, the Retail Operating Expense Payment and Tenant’s Tax Payment shall be abated on a per diem basis with respect to the Affected Space (but not as to the balance of the Premises) for the period commencing on the 11th day (or the 21st day, as applicable) after Tenant furnishes the Abatement Notice, and ending on the earlier of (i) the date Tenant occupies any material portion of the Affected Space which is the subject of such abatement for the ordinary conduct of its business or (ii) the date on which such condition is substantially remedied. An “Essential Service” shall mean only, with respect to each Affected Space, (i) the provision of electricity pursuant to Section 17.1, (ii) the provision of water and steam (when seasonably required) in accordance with the terms set forth in Section 12.1(d), and (iii) Landlord’s failure to provide chilled water during the time periods provided in, and in accordance with the provisions of, Exhibit D-1 and Exhibit D-2 annexed hereto. Notwithstanding the foregoing, if Landlord shall fail to provide chilled water to the Affected Space or the Music Hall and such chilled water can be provided by Tenant by operation of Tenant’s Refrigeration Plant, then in lieu of any abatement pursuant to this Section 12.5, from and after the 10th day of such failure (or the 20th day of such failure, if such failure was due to an Unavoidable Delay), Landlord shall pay to...
Rent Abatement. 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 xxxxx 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.
Rent Abatement. If Landlord fails to perform the obligations required -------------- of Landlord under the terms of this Lease and such failure causes all or a portion of the Premises to be untenantable and unusable by Tenant and such failure relates to the nonfunctioning of the heat, ventilation, and air conditioning system in the Premises, the electricity in the Premises, the nonfunctioning of the elevator service to the Premises, or a failure to provide access to the Premises, Tenant shall give Landlord notice (the "Initial Notice"), specifying such failure to perform by Landlord (the "Landlord Default"). If Landlord has not cured such Landlord Default within five (5) business days after the receipt of the Initial Notice (the "Eligibility Period"), Tenant may deliver an additional notice to Landlord (the "Additional Notice"), specifying such Landlord Default and Tenant's intention to xxxxx the payment of Rent under this Lease. If Landlord does not cure such Landlord Default within five (5) business days of receipt of the Additional Notice, Tenant may, upon written notice to Landlord, immediately xxxxx Rent payable under this Lease for that portion of the Premises rendered untenantable and not used by Tenant, for the period beginning on the date five (5) business days after the Initial Notice to the earlier of the date Landlord cures such Landlord Default or the date Tenant recommences the use of such portion of the Premises. Such right to xxxxx Rent shall be Tenant's sole and exclusive remedy at law or in equity for a Landlord Default. Except as provided in this Section 6.4, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Rent Abatement. Rent shall be abated during the repair of any damage to the extent the premises are untenantable.
Rent Abatement. If Landlord repairs the Premises or the Building after a Premises Damage as described in this Article 16, Minimum Monthly Rent and Additional Rent shall be equitably reduced from the date of the Premises Damage until the repairs are completed, based upon the extent to which such repairs interfere with the business carried on by Tenant in the Premises, but only to the extent Landlord receives proceeds from the rental income insurance described in Section 9.1. Landlord agrees to take reasonable steps to make a claim for and collect any rental income insurance proceeds that might be available.
Rent Abatement. Notwithstanding any contrary provisions set forth in this Article 3 and in Section 4 of the Summary, Tenant shall not be obligated to pay the monthly installments of Base Rent or “Tenant’s Share” of “Direct Expenses” (as those terms are defined in Article 4, below) attributable to the Premises for the two (2) month period commencing on the first day of the second (2nd) full calendar month of the Lease Term and ending on the last day of the third (3rd) full calendar month of the Lease Term (the “Abatement Period”). In connection with the foregoing, the abatement of Base Rent provided to Tenant pursuant to this Section 3.2 during the Abatement Period shall not exceed an aggregate of One Hundred Four Thousand Seven Hundred Forty-Eight and 00/100 Dollars ($104,748.00). Additionally, notwithstanding the foregoing, except with respect to Tenant’s Share of Direct Expenses, Tenant shall be obligated to pay all “Additional Rent,” as that term is defined in Section 4.1, below, during the Abatement Period. The foregoing abatement of Base Rent and Xxxxxx’s Share of Direct Expenses has been granted to Tenant as additional consideration for entering into this Lease, and for agreeing to pay the rent and performing the terms and conditions otherwise required under this Lease. If Tenant shall be in economic or material non-economic default of this Lease and shall fail to cure such default within the applicable notice and cure period set forth in this Lease, then Landlord may at its option, by notice to Tenant, elect, in addition to any other remedies Landlord may have under this Lease, that the dollar amount of the unapplied portion of such abatement of Base Rent and Tenant’s Share of Direct Expenses as of such default shall be converted to a credit to be applied to the Base Rent applicable to the Premises at the end of the Lease Term and Tenant shall immediately be obligated to begin paying Base Rent and Tenant’s Share of Direct Expenses for the Premises in full.
Rent Abatement. If Landlord fails to perform the obligations required of Landlord under the terms of this Lease and such failure causes all or a portion of the Premises to be unusable by, or inaccessible to, Tenant and such failure relates to (x) the nonfunctioning of the Building HVAC system in the Premises, the interruption of electricity to the Premises, the nonfunctioning of the elevator service to the Premises, or (y) a failure to provide access to all or a portion of the Premises (including as a result of any work performed by Landlord in or about the Premises or the Building unless in response to Tenant’s request or as a result of Tenant’s breach of this Lease), Tenant shall give Landlord notice to the Building management office (the “Initial Failure Notice”), specifying such failure to perform by Landlord (the “Abatement Event”). If Landlord has not cured such Abatement Event within three (3) business days after the receipt of the Initial Failure Notice (the “Eligibility Period”), Tenant may deliver an additional notice to Landlord (the “Additional Notice”), specifying such Abatement Event and Tenant’s intention to xxxxx the payment of Rent under this Lease. If Landlord does not cure such Abatement Event within three (3) business days of receipt of the Additional Notice, Tenant may, upon written notice to Landlord, immediately xxxxx Rent payable under this Lease for that portion of the Premises rendered unusable or inaccessible and not used by Tenant, for the period beginning on the expiration of the Eligibility Period to the earlier of the date Landlord cures such Abatement Event or the date Tenant recommences the use of such portion of the Premises. Such right to xxxxx Rent shall be Tenant’s sole and exclusive remedy at law or in equity for an Abatement Event. Except as provided in this Section 6.4, nothing contained herein shall be interpreted to mean that Tenant is excused from paying Rent due hereunder.
Rent Abatement. During any periods of time during which the Applicable Assets and/or Additional Improvements are destroyed, damaged by a Casualty Event or are being restored or reconstructed under the terms of Section 7.4, Rent hereunder shall be abated in the proportion that the Relevant Asset Owner’s use thereof is impacted, on the condition that the Relevant Asset Owner uses commercially reasonable efforts to mitigate the disruption to its business caused by such event.
Rent Abatement. In the event that the provisions of Section -------------- 10.01 above shall become applicable as to any Leased Property, and subject to the last sentence of this Section 10.04, the applicable Base Annual Rent shall be abated or reduced proportionately during any period in which, by reason of such damage or destruction, there is substantial interference with the operation of the Business of Tenant in such Leased Property, having regard to the extent to which Tenant may be required to discontinue any Business on such Leased Property, and such abatement or reduction shall continue for the period commencing with such destruction or damage and ending with the substantial completion by Tenant of such work or repair and/or reconstruction. In the event that only a portion of any Leased Property is rendered untenantable or incapable of such use, the Base Annual Rent payable hereunder in respect thereof shall be reduced proportionately considering the extent to which the Tenant is unable to practicably use the Leased Property for Business. Tenant shall use reasonably diligent efforts to make the Leased Property tenantable and capable of such use. Notwithstanding any other provision hereof, such rental abatement shall be limited to the amount of any rental or Business interruption insurance proceeds actually received by Landlord under Article IV.
