Commercial Leases · glossary
The stopping of the Annual Rent and the service charge after insured damage makes the floor unusable. Under clause 7.3 they are suspended, in full or in a fair part, until the floor can be used again, for three years at most. The insurance rent keeps running. Lease 7.3 · Chapter 5 · see Insurance rent, Reinstatement
Explained in Chapter 5, Service Charge and Insurance, of Commercial Leases.
Suppose a fire leaves the first floor unusable. Without a clause, Linnet would go on paying full rent for a floor it cannot enter. Fellgate, meanwhile, holds a policy that pays it three years of lost rent.Read Chapter 5, Service Charge and Insurance →
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