Common use of Rent Reduction Clause in Contracts

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.