Common use of Rent Reduction Clause in Contracts

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 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. 113.1, 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.