Rent Reduction. In case of a Taking of less than all of the Leased Property and if (i) this Lease shall not terminate as provided in Section 15.2 (a), and (ii) Restoration has been undertaken by Lessee pursuant to the provisions of Section 15.2(c), then commencing as of the Vesting Date, the amount of the Base Rent and Percentage Rent payable by Lessee under this Lease shall be reduced (and Lessee shall be credited for prior overpayments) by an amount reasonably determined by Lessor and Lessee. If Lessor and Lessee cannot, within 30 days, agree on the new Base Rent and Percentage Rent, either may require that the matter be submitted to Binding Arbitration as set forth in Section 25.1. The new Base Rent and Percentage Rent shall be established to provide Lessee and Lessor with the same economic return that each were entitled to prior to the Taking.
Rent Reduction. 3.1 If part or all of the property cannot be used for the business because of damage covered by insurance the rent and other charges under this lease shall be cancelled or reduced as appropriate during the relevant period (up to a maximum of 2 years).
Rent Reduction. 5.1. With effect from the Signature Date, the Landlord will allow the Tenant to pay a Rent Reduction as the Monthly Rental payments on each due date for payment of Rent under the Lease Agreement. The Rent Reduction will be either the specific agreed upon amount or percentage set out in item 1.4, and such Rent Reduction may be deducted from the Rent payable by the Tenant. The balance due to the Landlord after the Rent Reduction must be paid in full by the Tenant to the Landlord each Month during the term of this Agreement in accordance with the provisions of the Lease Agreement.
Rent Reduction. In the event of any damage or destruction or Condemnation of any Facility as contemplated in Article 15 and Article 16, respectively, the Base Rent shall be reduced to the extent provided in Section 15.2, Section 15.3 or Section 16.3, as applicable. In no event shall the Rent hereunder xxxxx in any manner whatsoever prior to the termination of this Lease in accordance with its terms, except as otherwise specifically provided by this Lease.
Rent Reduction. If the Lease is not fully terminated after any taking, then it shall remain in full force and effect as to the portion of the Leased Premises remaining; provided the Rent payable hereunder shall be reduced on an equitable basis, taking into account the relative value of the portion taken as compared to the portion remaining. Landlord shall, at its expense, restore the remaining portion to a complete unit of like quality and character as existed prior to the condemnation.
Rent Reduction. If Tenant does not terminate or if Tenant does not have a right to terminate this Lease in accordance with the foregoing, this Lease shall remain in full force and effect as to the portion of the Premises remaining, except that the rent shall be reduced in the proportion that the floor area taken bears to the total floor area of the building included in the Premises. Land areas taken shall not cause a reduction in rent. If this Lease is not so terminated, the condemnation proceeds shall be applied (a) first in satisfaction and discharge of all assessments, if any, for both principal and interest levied on the Premises or any part of the Premises for benefits resulting from the improvements for which or in conjunction with which the condemnation was effected; and (b) so much of the balance as is necessary to pay the cost of restoration of injury to, or damage to, the buildings or improvements located on the Premises resulting from the condemnation.
Rent Reduction. Minimum Rent (defined in the Amended and Restated Leases) for the Amended and Restated Lease which includes the Leased Properties known as the New England Rehabilitation Hospital and the Braintree Rehabilitation Hospital will, upon closing of the Term Loan, be reduced by an annual amount equal to $2,000,000 until the expiration or sooner termination of the Fixed Term (as defined in that Amended and Restated Lease).
Rent Reduction. If less than ten percent (10%) of the Gross Rentable Area of the Leased Premises is taken for any public or quasi-public use under any governmental law, ordinance, or regulation, or by right of eminent domain, or by private purchase under threat thereof, this Lease shall not terminate, or if more than ten percent (10%) of the Gross Rentable Area of the Leased Premises is so taken and the Lease is not terminated in accordance with Section 13. 1, then in either of such events the Base Rent (but not Percentage Rental) payable hereunder during the unexpired portion of the Term shall be reduced by the percentage which the area taken bears to the area of the Leased Premises prior to the date possession of such portion of the Leased Premises is taken by the condemning authority.
Rent Reduction. If the Premises are damaged or destroyed and as a result the Tenant cannot use or gain access to the Premises then from the date that the Tenant notifies the Landlord of the damage or destruction the Landlord:
Rent Reduction. From the Effective Date through and including ***, Tenant shall be entitled to a credit against the Base Rent otherwise due under the Lease, in an amount equal to $ per annum (i.e., a credit of $ per month against Minimum Monthly Rent).
