Tenant’s Offsets Clause Samples

Tenant’s Offsets. If Owner is required pursuant to the express provisions of this Lease to make any payment to Tenant or permit Tenant any offset against Base Rent, the payment or offset shall not be made or permitted if there is then a Material Event of Default, but shall be made or permitted within twenty (20) Business Days following the curing of the Material Event of Default (less any reasonable costs incurred by Owner in connection with the Material Event of Default). If Owner (or, pursuant to Section 3.7, a Senior Interest Holder) shall be required to make any payment to or for the benefit of Tenant under this Lease and shall fail to do so following twenty (20) Business Days notice of the failure by Tenant to Owner, Tenant may offset the payment against the next Base Rent due under this Lease which is not subject to an offset pursuant to this Lease, with interest at the Late Charge Rate from the date first due until offset.