Document ID: 14638

Text:
7.03Landlords failure to furnish, or any interruption, diminishment or termination of services due to the application of Laws, the failure of any equipment, the performance of maintenance, repairs, improvements or alterations, utility interruptions or the occurrence of an event of Force Majeure (defined in Section26.03) (collectively a Service Failure) shall not render Landlord liable to Tenant, constitute a constructive eviction of Tenant, give rise to an abatement of Rent, nor relieve Tenant from the obligation to fulfill any covenant or agreement. Notwithstanding the foregoing, if all or any portion of the Premises is rendered Untenantable (as defined below) solely as a result of the failure of any Essential Service (as defined below) due to Landlords negligence or willful misconduct and Tenant does not use or occupy the same during said period, then Tenants obligation pay Base Rent and Additional Rent hereunder shall be abated in proportion to the portion of the Premises rendered Untenantable until the date on which such Untenantability is cured, provided that such abatement shall not commence until the fifth (5th) Business Day after the date on which Tenant delivers written notice to Landlord of the interruption and an opportunity, within such five (5)Business Day period, to cure same. The rate at which Base Rent or Additional Rent may be abated under this Section7.03 in any one calendar month shall not exceed twenty-five percent ( 25% ) of the Base Rent payable for such calendar month, provided that any amount not permitted to be taken as an abatement as a result of such monthly cap shall be credited against the Base Rent or Additional Rent next thereafter due under this Lease, subject to such monthly cap. In the event that the foregoing monthly cap would have the effect of depriving Tenant of any portion of abatement to which it is otherwise entitled hereunder due to the number of calendar months remaining in the term, the monthly cap may be increased proportionately to the extent necessary to avoid such result.

Named Entities:
160
161
Rent
163
164
Rent
264
265
Percentage

Tokenized Text:
7
.
03Landlords
failure
to
furnish
,
or
any
interruption
,
diminishment
or
termination
of
services
due
to
the
application
of
Laws
,
the
failure
of
any
equipment
,
the
performance
of
maintenance
,
repairs
,
improvements
or
alterations
,
utility
interruptions
or
the
occurrence
of
an
event
of
Force
Majeure
(
defined
in
Section26
.
03
)
(
collectively
a
Service
Failure
)
shall
not
render
Landlord
liable
to
Tenant
,
constitute
a
constructive
eviction
of
Tenant
,
give
rise
to
an
abatement
of
Rent
,
nor
relieve
Tenant
from
the
obligation
to
fulfill
any
covenant
or
agreement
.
Notwithstanding
the
foregoing
,
if
all
or
any
portion
of
the
Premises
is
rendered
Untenantable
(
as
defined
below
)
solely
as
a
result
of
the
failure
of
any
Essential
Service
(
as
defined
below
)
due
to
Landlords
negligence
or
willful
misconduct
and
Tenant
does
not
use
or
occupy
the
same
during
said
period
,
then
Tenants
obligation
pay
Base
Rent
and
Additional
Rent
hereunder
shall
be
abated
in
proportion
to
the
portion
of
the
Premises
rendered
Untenantable
until
the
date
on
which
such
Untenantability
is
cured
,
provided
that
such
abatement
shall
not
commence
until
the
fifth
(
5th
)
Business
Day
after
the
date
on
which
Tenant
delivers
written
notice
to
Landlord
of
the
interruption
and
an
opportunity
,
within
such
five
(
5
)
Business
Day
period
,
to
cure
same
.
The
rate
at
which
Base
Rent
or
Additional
Rent
may
be
abated
under
this
Section7
.
03
in
any
one
calendar
month
shall
not
exceed
twenty-five
percent
(
25
%
)
of
the
Base
Rent
payable
for
such
calendar
month
,
provided
that
any
amount
not
permitted
to
be
taken
as
an
abatement
as
a
result
of
such
monthly
cap
shall
be
credited
against
the
Base
Rent
or
Additional
Rent
next
thereafter
due
under
this
Lease
,
subject
to
such
monthly
cap
.
In
the
event
that
the
foregoing
monthly
cap
would
have
the
effect
of
depriving
Tenant
of
any
portion
of
abatement
to
which
it
is
otherwise
entitled
hereunder
due
to
the
number
of
calendar
months
remaining
in
the
term
,
the
monthly
cap
may
be
increased
proportionately
to
the
extent
necessary
to
avoid
such
result
.