|rent abatement definition commercial lease||1.67||0.4||9332||24|
Rent abatement is the provision that in the event the property is damaged, the landlord will allow the tenant to suspend paying rent until the property is repaired and the tenant can resume operations.What is abatement of rent?
Defining Rent Abatement. Rent abatement is a term often found in leases which stipulates that a tenant will receive either reduced rent or not be required to pay rent at all in the event that the property they have rented cannot be used for reasons out of their control. For example, if a natural disaster occurs in the area and...What is base rent abatement?
Base Rent Abatement. Provided that Tenant is not then in default of the terms of the Lease, after expiration of any applicable notice and cure periods, Tenant will have no obligation to pay any Base Rent with respect to the Substitute Premises for the period for the first (1st) month of the Substitute Premises Term.