Common use of Rent Reduction Clause in Contracts

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). 3.2 The provisions of clause 3.1 shall not apply if the insurers do not pay under the policy because of something done or not done by you or your agent. 3.3 Any dispute as to how this clause 3 applies will be settled in accordance with Chapter 15.

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). 3.2 The provisions of clause 3.1 shall not apply if the insurers do not pay under the policy because of something done or not done by you or your agent. 3.3 Any dispute as to how this clause 3 applies will be settled in accordance with Chapter 1514.

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). 3.2 The provisions of clause 3.1 shall not apply if the insurers do not pay under the policy because of something done or not done by you or your agent. 3.3 Any dispute disputes as to how this clause 3 applies will are to be settled in accordance with Chapter 15referred to arbitration.