Employment Lease Agreement With Option To Purchase In Riverside
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Standard in many commercial leases, an 'Option' is a clause in the lease agreement which grants the tenant the ability to renew the tenancy for an additional term or terms.
A break clause in a commercial lease (also known as 'an option to determine') is fairly common. It allows both parties flexibility if any issues or changes in circumstances occur, and provides the parties with a mechanism to terminate the agreement early if certain criteria are met.
For example, a tenant and landlord may agree to a five-year lease with a five-year option to renew. At the end of the first five years, the tenant is given the chance to continue the lease for another five years. If you think you may renew, be sure to bring up extension provisions with your landlord.
The standard lease agreement in California, whether for residential or commercial property, is a legal contract between the property owner and the prospective tenant. It outlines the terms under which the tenant can occupy and use the rental property.
A 'break option', 'break clause' or 'option to determine' is a clause in a lease which gives either the landlord, tenant, or both, a right in specified circumstances to terminate the lease before it's contractual expiry date.
A break clause (or a 'break option' or 'option to determine') is a clause in a lease which provides the landlord or tenant with a right to terminate the lease before its contractual expiry date, if certain criteria are met.
OPTION TO EXTEND. written notice no earlier than the date which is _______ (__) months prior to the expiration of the term of the Lease but no later than the date which is _______ (__) months prior to the expiration of the term of the Lease.
A lease, in the context of property, is a contractual arrangement wherein a tenant is granted the right to occupy a property for a fixed period, subject to certain terms and conditions. Lease determination refers to the end of this lease period, either by natural expiry or other specified circumstances.
