Rent Concessions Clause Samples
A Rent Concessions clause defines the terms under which a landlord offers temporary reductions or waivers of rent to a tenant. This clause typically specifies the duration of the concession, the amount or percentage of rent affected, and any conditions that must be met for the tenant to qualify, such as timely payment or lease commencement. Its core practical function is to provide financial relief to tenants, often as an incentive to sign a lease or to address unforeseen circumstances, while clearly outlining the limits and requirements of such relief to prevent future disputes.
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Rent Concessions. Notwithstanding any other term or provision of this Amendment of the Lease, in the event Landlord has made any Rent concession of any type or character or has waived, reduced or deferred the payment of any Rent installment, should Tenant fail to take possession of the First Expansion Premises on the First Expansion Effective Date or should any Default occur, all such Rent concessions and waivers or deferrals of Rent installments shall be canceled and the unamortized amount of such concessions, waivers and deferrals received by Tenant, together with interest at the Default Rate, shall become immediately due and payable.
Rent Concessions. Whether Tenant is currently receiving any rental concessions, rebates, or abatements; and, if so, the terms of such concession, rebate, or abatement, including, without limitation, the date when this concession, rebate, or abatement shall expire. Tenant will also confirm whether it is entitled to any future rent concessions, rebates, or abatements under the lease; and if so, the terms of the future concessions, rebates, or abatements.
Rent Concessions. Provided Lessee is not in default under any of the terms and provisions of the Lease, Lessor agrees to modify the rent payable by Lessee in accordance Alternative "A" set forth in a letter dated May 8, 1997 annexed hereto as Schedule "B".
Rent Concessions. 8 Rent............................................................ 11
Rent Concessions. If and to the extent Seller has committed to give any future monetary rent concessions to tenants under existing Leases to which Purchaser would become liable as of Closing, then Seller shall credit Purchaser at Closing for the amount of any such concessions.
Rent Concessions. The LANDLORD and TENANT agree that LANDLORD will allow a credit to TENANT’S rent no more than 15% of the rental each year, which would take into consideration repairs to the existing structures and permanent improvements that would increase or preserve the value of the City’s property at the TENANT’S expense, unless a greater amount is approved by resolution of the City Commission. The said credit shall not be cumulative from year to year.
Rent Concessions. To Seller's knowledge, as of the Execution Date, no tenant under any of the tenant leases affecting the Property is entitled to any remaining free rent or similar tenant rent concessions pursuant to its lease, except as expressly disclosed in the schedule attached hereto as Schedule 12.1.9 (the "Rent Concession Schedule"), which shall be updated as of the Closing to reflect any new or changed lease terms entered into in accordance with the terms of this Agreement. Except for security deposits, and as expressly disclosed on the Rent Concession Schedule, no base rents under tenant leases ("Rents") have been prepaid more than one (1) month in advance. None of the tenant leases and none of the Rents have been assigned, pledged, or encumbered by Seller, except pursuant to financing encumbering the Property that will be paid off effective as of the Closing.
Rent Concessions. 13.1 Upon the following conditions are met at the same time, the Tenant is entitled to enjoy rent concessions granted by the Lessor, namely:
13.1.1 The Tenant shall make its best efforts to make its business and tax registration for all its business in BDA (the relevant procedures of submitting reports for approval shall be applied for by the Tenant and the expenses incurred shall be assumed by the Tenant), within six months from the date when the Lessor provides the Tenant with relevant licenses necessary for business and tax registration (including the Recording Form for the Final Checking and Acceptance of the Completion of the Construction Project of Rental Facilities and the proof that certification of real estate is being handled). However, in the case of any delay for any cause beyond the control of the Tenant, the Lessor agrees to defer a period of three month. If the Tenant has not yet make its business and tax registration for all its business in BDA upon the expiration of such three month, the Tenant is not entitled to enjoy any preferential conditions (including rent concessions) hereunder and the rent criteria shall be determined and implemented in accordance with the relevant provisions of Section 13.3 of this Article.
13.1.2 During the validity term of the Tenant’s license (for details of copy of the approval certificate of foreign-invested enterprises of the Tenant, see Annex 7 to “Build to Suit and Pre-Lease Agreement”), the Tenant shall not split or transfer in any way all its investments to Beijing or any other place in China, and shall register all its investments in BDA. Otherwise the Tenant is not entitled to enjoy any preferential conditions (including rent concessions) hereunder, and shall make up the rent hereunder in full to the Lessor in accordance with the provisions of Section 13.3 of this Article.
13.2 If all the conditions referred to in Section 13.1 of this Article are met, the Lessor shall, from the date of completion of the Tenant’s tax registration for all its business in BDA, grant the Tenant the rent concession period for 2 years and 6 months with exemption from house lease use fees of the rent (the criteria of house lease use fees is 37 Yuan / square meter / month). Such exemption for 2 years and 6 months shall be implemented from the first Payment Period after the date of completion of the Tenant’s tax registration for all its business in BDA, and shall apply for ten Payment Periods, during which the Tenant shall pay ...
Rent Concessions. Tenant shall receive a total rent concession of $ to be applied to the months of , through , .
Rent Concessions. Under the Illinois Rent Concessions Act, Landlord must display on the Lease the nature and amount of each concession granted.